<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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When I explain to people what I do and how I’ve made a business out of what I love – developing property – they often say, “I wish I could do something like that”.
My reply is always, “You can do it. If I can do it, you can do it.”  What I’ve worked out over time is the difference between someone who fails and someone who succeeds is the courage to act, not just once, but repeatedly.
Something else I’m often asked is: when is the right time to invest in property? In my books, the right time is now. I’ve seen so many people over-analyse the market and end up sitting on the sidelines for years because they’ve lacked the confidence to take action and invest. Then they look back and say, “If only I did buy that property back then...”   I’m not recommending you buy any old property, of course you must do your due diligence, but when you’ve ticked the boxes and the deal stacks up, have the courage to act.
An important element to help us act is to overcome fear. Fear is a powerful emotion and is described in the dictionary as “an unpleasant emotion caused by the awareness of danger or expectation of pain”, which I’m sure we have all felt at some point in our lives.
Any successful investor will tell you the journey has not all been plain sailing. They have all learned to overcome doubt, fear and uncertainty along with recognising the persistent drive to never give up.
To some of us, the thought of failing or making a mistake is traumatic. Others seem to be able to pick themselves up and keep going until they make the next mistake only to pick themselves up again. They learn from each mistake and see them as opportunities to improve.  This is the type of resilience needed to enable us to bounce back each time. Is it passed on from parents who have instilled this resilience into their children, or is it learned? From my experience, I believe it is learned over time. It’s like anything, if you want to be good you have to practise. Repeat the process time after time and keep refining it.
As a property development project manages this is exactly what we do. Every development is different, each piece of land brings challenges, but we can overcome them easily now because of our experience and yet we are constantly looking at ways to improve our process.
While reading a blog on the internet, I came across these tips, 9 Steps to Overcome Fear, which I’d like to share with you.  As a property developer and businesswoman I could really relate:
<ol>
<li>
Make the decision to succeed - Once you decide on success you rarely allow doubt to enter your mind. Your persistence, dedication and resilience are strengthened. You free yourself to do the uncommon and the impossible. 
</li>
<li>
Take risks – Chase your fear. Do what scares you. Make the dreaded phone call. Ask for what you want. When you experience rejection ask someone else. 
</li>
<li>
Be prepared – Anticipate your own needs. Don’t live in fear, create solutions in advance. Know how you will get out, get over, around and through what could go wrong. 
</li>
<li>
Let go of urgency and fear – Learn to relax and go with the flow. Our anxiety and stress are caused by living in the pain of the past or the far of the future. Life happens in the present moment. 
</li>
<li>
Focus on the benefits of your success – Become focused on what you will gain. Is your benefit financial freedom, travel, saving the lives of others or leaving a legacy you can be proud of? When the going gets tough, focus on your why. 
</li>
<li>
Calm your body – Find a quiet place and bring attention inward, notice where your fear resides in your body. Learn to calm and centre yourself. 
</li>
<li>
Create your own fan base – Your family and friends will be supporting you to succeed. When you are scared, imagine them all cheering you on. 
</li>
<li>
Participate in life – Turn off your television, electronics and the negative media. Take a guitar lesson, a skydiving or yoga lesson or swim in the ocean to basically feel good. 
</li>
<li>
You are enough – Accept who you are and where you are today. When you compare yourself to others, you create your own suffering.</li>
</ol>
When thinking about developing property, the whole process can be daunting. Stay focussed on the end result, make sure you take action and move toward your goal by taking one step at a time.
Tips from <a href="https://zenhabits.net/" target="_blank">www.zenhabits.net</a>
 Jo Chivers is director of <a target="_blank" title="Property Bloom" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
 
 
 
 
 
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jochivers-wq5Bp59R5a

Property development is daunting, but you must learn to master your fear

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Almost half of the 95 apartments in Abacus Property Group’s new Brighton development, 380 degrees, have sold since the project launched in February.
The $110 million development at 380 Bay Street will comprise five levels and is designed to appeal to buyers seeking luxurious, low-maintenance living options in the affluent suburb.
“With apartment living growing exponentially in recent years, 380 Degrees has been carefully designed to capture the epitome of contemporary Australian living,” says Abacus Property Group associate director John Bush.
He says the development appeals to “a broad range of buyers, including empty nesters, investors, corporate high flyers and first-home buyers”.
<img src="/images/stories/380degrees1.jpg">
About 40 of the apartments have been sold to date. Construction commenced in March this year and is set to be finished in late 2013.
There will be 42 one-bedroom apartments, which will range in size from 55 to 75 square metres and from $460,000 to $600,000. Of these, 31 will include a multipurpose room/study, and these start from $545,000. The 40 two-bedroom offerings will be between 80 and 117 square metres internally and will range between $639,000 and $995,000 in price. There will be 13 three-bedroom units of between 102 and 125 square metres, priced between $1.11 million and $1.27 million.
According to RP Data, 20% of the dwelling stock in <a href="Almost%20half%20of%20the%2095%20apartments%20in%20Abacus%20Property%20Group%E2%80%99s%20new%20Brighton%20development,%20380%20degrees,%20have%20sold%20since%20the%20project%20launched%20in%20February.%20The%20%24110%20million%20development%20at%20380%20Bay%20Street%20will%20comprise%20five%20levels%20and%20is%20designed%20to%20appeal%20to%20buyers%20seeking%20luxurious,%20low-maintenance%20living%20options%20in%20the%20affluent%20suburb.%20%E2%80%9CWith%20apartment%20living%20growing%20exponentially%20in%20recent%20years,%20380%20Degrees%20has%20been%20carefully%20designed%20to%20capture%20the%20epitome%20of%20contemporary%20Australian%20living,%E2%80%9D%20says%20Abacus%20Property%20Group%20associate%20director%20John%20Bush.%20He%20says%20the%20development%20appeals%20to%20%E2%80%9Ca%20broad%20range%20of%20buyers,%20including%20empty%20nesters,%20investors,%20corporate%20high%20flyers%20and%20first-home%20buyers%E2%80%9D.%20About%2040%20of%20the%20apartments%20have%20been%20sold%20to%20date.%20Construction%20commenced%20in%20March%20this%20year%20and%20is%20set%20to%20be%20finished%20in%20late%202013.%20There%20will%20be%2042%20one-bedroom%20apartments,%20which%20will%20range%20in%20size%20from%2055%20to%2075%20square%20metres%20and%20from%20%24460,000%20to%20%24600,000.%20Of%20these,%2031%20will%20include%20a%20multipurpose%20room/study,%20and%20these%20start%20from%20%24545,000.%20The%2040%20two-bedroom%20offerings%20will%20be%20between%2080%20and%20117%20square%20metres%20internally%20and%20will%20range%20between%20%24639,000%20and%20%24995,000%20in%20price.%20There%20will%20be%2013%20three-bedroom%20units%20of%20between%20102%20and%20125%20square%20metres,%20priced%20between%20%241.11%20million%20and%20%241.27%20million.%20According%20to%20RP%20Data,%2019.7%%20of%20the%20dwelling%20stock%20in%20Brighton%20comprises%20units,%20with%20about%2060%%20detached%20houses.%20The%20median%20unit%20price%20in%20Brighton%20fell%204.8%%20last%20year.%20Architecture%20firm%20Rothelowman%20is%20behind%20the%20striking%20design.%20%E2%80%9C380%20Degrees%20will%20be%20an%20excellent%20addition%20to%20the%20area.%20The%20building%E2%80%99s%20fa%C3%A7ade%20will%20feature%20perforated%20metal%20sliding%20panels%20to%20create%20a%20stylish%20winter%20garden%20effect,%E2%80%9D%20says%20Interiors%20Rothelowman%20associate%20Clementine%20Inglis.%20%20%E2%80%9CSpacious%20balconies%20and%20terraces%20have%20been%20designed%20to%20capture%20indoor%20and%20outdoor%20living,%20whilst%20creating%20a%20sense%20of%20sanctuary%20and%20privacy,%20which%20is%20perfect%20for%20entertaining%20and%20escaping.%20Each%20apartment%E2%80%99s%20interior%20will%20reflect%20minimalist%20style%20with%20a%20sophisticated%20fit%20out%20%E2%80%93%20wide%20floorboards%20and%20modern%20cabinetry%20to%20polished%20fittings%20and%20flush%20surfaces%20throughout%20help%20ensure%20a%20prevailing%20sense%20of%20openness,%20the%20perfect%20elements%20to%20create%20a%20home%20and%20a%20lifestyle.%E2%80%9D" target="_blank">Brighton </a>comprises units, with about 60% detached houses. The median unit price in Brighton fell 4.8% last year.
<img src="/images/stories/380degrees2.jpg">
Architecture firm Rothelowman is behind the striking design.
“380 Degrees will be an excellent addition to the area. The building’s façade will feature perforated metal sliding panels to create a stylish winter garden effect,” says Interiors Rothelowman associate Clementine Inglis.
<img src="/images/stories/380degrees3.jpg">
“Spacious balconies and terraces have been designed to capture indoor and outdoor living, whilst creating a sense of sanctuary and privacy, which is perfect for entertaining and escaping. Each apartment’s interior will reflect minimalist style with a sophisticated fit out – wide floorboards and modern cabinetry to polished fittings and flush surfaces throughout help ensure a prevailing sense of openness, the perfect elements to create a home and a lifestyle.”
 
 
 
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cknowlton-QnEa6ntUYP

Brighton development 380 Degrees about half-sold two months after launch

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Viking apartments, the $80 million, 10-storey, 108-apartment block at Green Square, is now being completed by Iwan Sunito’s Crown Group.
Construction is anticipated to begin on the new landmark building to be known as Viking by Crown in June, with completion expected in 18 months. Located at 30-36 O’Dea Avenue, the final 24 apartments have now been released for sale.
The prices range from $490,000 to $575,000 for one-bedroom units and from between $740,000 and $900,000 for the two-bedroom offerings. Its three-bedroom units range between $997,000 and $1.3 million. The penthouses start at $1.23 million and hit $1.75 million.
Viking by Crown has been designed by MPRDG architects – headed by Brian Meyerson – to give all apartments floor-to-ceiling glass, a wide loggia and views to the CBD and adjoining parklands.
Its coloured panel louvres are expected to create an ever-changing hue on its façade.
Inspiration for the design was drawn from the work of internationally renowned Israeli artist Yaacov Agam, founder of the post-war kinetic art movement and creator of ground-breaking sculpture, paintings and architecture
The building, to be set on a narrow wedge shaped island site, was initially proposed by Simon Skibsted’s Feheni Pty Ltd, which has owned the 5,050-square-metre Waterloo site since 1987.
In late 2010 CBRE Residential secured 77 red-dot sales within six week.
The 2010 prices were 41 one-bedroom apartments, up to 66 square metres with balconies up to 12 square metres, priced from $465,000 and levies from $500 a quarter.
Its 41 two-bedroom apartments, some with studies, up to 108 square metres with balconies up to 40 square metres, 2010 prices from the mid-$600,000s, with levies from $700 a quarter.
The 26 three-bedroom apartments, up to 133 square metres with balconies up to 100 square metres, had 2010 prices from $895,000 and levies from $900 a quarter.
The eight three-bedroom penthouses with internal areas of up to 165 square metres had prices in late 2010 from $1.2 million to $1.695 million and levies from $900 a quarter.
 
 
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jchancellor-FAypfDUnLy

Crown Group to begin construction on Viking apartments at Green Square, Waterloo

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Given the spread of ROI (registration of interest) marketing campaigns, I think it is important to look at the key setting in greater detail. First up, before starting any ROI campaign it is important to have clear goals and expectations to make sure the idea fits the market circumstances.
The key expectations that need to be agreed would always include clear targeting – otherwise the process will lack focus – such as:
<ul>
<li>Launch day sales target by number, percentage and total value</li>
<li>Number of paid expressions of interest (EOI) to convert to sales</li>
<li>Number of required ROI enquiries to convert to EOI requirement</li>
<li>Number of individuals contacted about the project through all the various mediums to reach the ROI target</li>
<li>The marketing mediums identified and what volumes of enquiries they will bring</li>
</ul>
This is not a process of testing the waters, because once you enter the market there needs to be clear intentions to engage the market in a defined sales path.
They key aim will be to build a quality database. This outcome will and can not only rely upon the raw volume of respondents. In today’s market there could well be a hurdle, as securing a strong response is never certain. Quality registrations will only result if the entire process is well managed every step of the way – if a medium is bringing in low-quality leads changes to the marketing message, sales conversation or marketing spend needs to happen and quickly, to ensure the project stays on track to its required numbers.
Access raw numbers with care
Care must be taken in the collection and use of data; simply collecting a great deal of useless information is a waste of time and could well backfire by creating foolish expectations. It is easy for anyone to fill in an email form and these forms can look good on paper but unless there is a qualifying process behind them they may be of little even negative value to the sales process.
Subsequently as the process moves to the point of commitment a poorly qualified database will soon reveal flaws if few sales are converted, or a poorly supported launch takes place. However, if the ROI campaign targets the desired markets then the campaign will secure solid results.
One result of a successful campaign will be the ability to build prices, where prices can be increased, if the demand in these early stages is solid. This is not to suggest that prices can or should be over-heated as a result of early interest, but this is the ideal time to keep prices under review and in line with buyer demand.
A good result from an ROI campaign will assist to leverage higher sales rates early in the development cycle and this solid demand will underpin prices as the project moves forward.
This will also be a positive when dealing with finance from any perspective given how lenders can be in meeting today’s lending criteria.
Against this background of possible results it is easy to see why ROI campaigns are popular. However despite all of the positives, ROI campaigns are not, as has already been suggested, automatically suitable for all developments and they can and have failed. Why this usually happens is because the raw data collected is not sourced from well-targeted activity, thoroughly checked, qualified and managed throughout the entire campaign leading up to launch – you only get one chance.
The qualifying process is essential; it’s the foundation to the entire campaign. The time and resources to do this always needs to be factored into the ROI campaign through an experienced project sales and marketing team who understand the importance of providing detailed and accurate reporting.
Even where existing databases are used do not take for granted that these lists are current, always ask the question. A quality database is built upon constant quality engagement. Otherwise this data, so important to the ROI process, is suspect.
The buyer’s perspective
This brings us to the buyer’s perspective. In any ROI campaign the client’s outcome and involvement must always be a central consideration, so again we are back looking at the quality of data.
Genuine and qualified targets secured during an ROI campaign will naturally have their own expectations and they will have been driven by varied intentions and motivations.
This is not a lottery process and must be well managed. It’s an essential part of one of my re-occurring themes – that is the quality of the buyer’s experience at every stage sales path.
Above all when any consumer registers they must receive a response, immediately (even if automated although this is not ideal) but always within 24 to 36 hours, and that response needs to be of value adding to the level of information the person may already have about the project. Many campaigns still manage to get this simple step wrong or simply rely upon an automated process and leave it there. That’s not good enough!
Consumers who respond to an ROI campaign do so for a reason, and if that is not respected it can damage the project and the developer’s brand. If a consumer goes to the extent of giving over personal information this must be acted upon.
The collection of personal data is an increasingly sensitive area, and even with the backing of privacy legislation there is a need to respect the process.
All of the data collected must be used as constructively as possible. If the data is well structured it also helps qualify and establish valuable demographic information. As a possible starting point even the most basic market profile can be built up, simply by the accurate collection of postcode details as a minimum.
Because of the structure and nature of the marketing, ROI campaigns are frequently most appealing to apartment buyers. This is due mainly to the frequently longer lead times and in some markets very long lead times of one, two or more years before completion.
With such long-term plans, for the developer there is an obvious benefit in securing early sales and many buyers also see these timeframes as an ideal way to manage their aspirations, finances and their varied and changing needs.
The targeted use of ROI campaigns can, when correctly executed, help lock in the benefits for buyers and developers alike.
Timing is an important element
ROI campaigns will almost always be managed over shorter periods of time from six weeks to possibly several months. However beyond two or three months ROI campaigns are usually not that affective because the reasonable expectation of a benefit to the buyer is always diminished by time.
If the campaign is in the market for a protracted time it reduces the urgency. The implied advantages evaporate and the target market will stop seeing the opportunity to register as being of any value to them.
In some markets potential buyers might not only be time driven, they may be happy to register their details and then wait for the product to be on-sale. However the time scales involved and release of information needs to be carefully managed, otherwise consumers will lose interest in the project.
Even when the buyers are not in a hurry, the life of the campaign must still be for a limited time. The advantage of being early into the project will always remain a key attraction to buyers.
Even if some buyers might have been looking around the market before they register, once the ROI campaign is over those who register must be kept up-dated. If a project is being developed over a long period there must be a strategy to keep in touch with anyone who does register on a very regular basis. But this contact needs balance; not too much contact to be harassing and avoiding long periods of no contact.
Given that the main aim of the ROI campaign is, at least in the short-term, to create a qualified and ‘ready-to- buy’ database. Ideally ahead of any formal release or mainstream marketing those who can should be moved to a level of commitment and where possible move to exchange contracts.
ROI campaigns have become very popular and it is important that this step in the project marketing mix be thoroughly managed. The next part of this post will look in detail at the content and planning of ROI campaigns. This will include how the varied steps can be managed and how different creative solutions can be used from private client or whisper campaigns to an open market approach.
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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Before starting a registrations-of-interest campaign, outline clear goals: Peter Chittenden

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The property at 99 Windsor Crescent (pictured below), in the Melbourne suburb of Mont Albert, drew a big crowd at its weekend auction, with the vendor securing a strong result.
<img src="/images/stories/windsorcres.jpg">
It was one of the properties featured on website <a target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
“In Melbourne a big crowd turned out to watch the auction of 99 Windsor Crescent, Mont Albert, and it was clear from the very beginning that the opening bidder wanted the property,” says Mark Armstrong of Property Tycoon.
“She stuck with the auction from start to finish before securing the property for $1.46 million, more than $100,000 over the average tip.”
But it was a different story for the Sydney property featured on Property Observer, 77 Annandale Street, Annandale (pictured below).
<img src="/images/stories/annandalest.jpg">
The property sold for just above its price quote, says Armstrong.
“The property was purchased in 2007 for $870,000 and has had a major renovation.”
 
 
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Melbourne auction tipping competition property fetches high price at auction, but Sydney fails to deliver significant competition

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Estate agents suggest the weekend auction result provided a clear indication that further interest rate increases by the banks are negatively impacting on demand and confidence in the residential property market.
The ANZ Bank decision on Friday to raise interest rates again dampened the mood at some capital city weekend auctions, with participants understandably increasingly confused about market conditions and direction.
Buyers' agent Catherine Cashmore, of National Property Buyers, says the two recent rate rises have been worrying buyers, especially investors.
Cashmore notes that owner-occupiers continue to target good properties.
Melbourne’s auction clearance rate was 55%, compared with 61% pre-Easter Saturday result.
No clearance rate was published last weekend due to Easter.
Sydney’s clearance rate was 55.5% which bettered the 53.8% of the pre-Easter weekend.
Both clearance rates have improved since the end of last year, but the Melbourne result was down on the same weekend last year, when it was 61% in Melbourne, while Sydney’s result matched the same Saturday last year.
Dr Andrew Wilson from Australian Property Monitors says the data might suggest a growing gulf between the economic outlook for Melbourne and Sydney.
“The trend is for a deteriorating jobs market in Victoria and an improving one in NSW,” Wilson says.
“This will affect confidence, especially when we are seeing mortgage rates increase.
“The bite of the multi-speed economy is starting to kick in,” Wilson told Fairfax Media.
Buyers who were the highest bidders for a property passed in should know how to “play the game” in the aftermath of the auction, according to the Real Estate Buyers’ Agents Association of Australia (REBAA) president Warwick Brookes.
“Just because a property has been passed in does not mean that this is market price – it’s simply a price point for further negotiation,” Brookes has advised.
Keep a cool head was important, Brookes says, with the key being to work within the predetermined price range and not waiver from it.
His tips for negotiation at auction are:
1 Stay outside the property
Unless it’s pouring rain, don’t follow the agent inside. Position yourself outside where you can assess your competition.
2 Determine the reserve
Most times, the reserve is not the price at which the vendor will ultimately sign a contract. What’s the lowest price the vendor will sell for?
3 Decide on your strategy
Do your research and estimate what the property is worth under low competition and at the upper end, where there’s intense competition.
4 Deliberate and minimise the outcome
The extent of any negotiations will depend on how much the property is passed in for. Don’t be frightened to drive a hard bargain. If there are no other buyers in sight and everybody has left, reassess how much you’re willing to counter-offer.
5 Keep a poker face
It’s a fact that 90% of all communication is conveyed through eye contact and body language. Keep a poker face – it can save you thousands.
 
 
 
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Melbourne weakening while Sydney steadies, and post-auction negotiations need to be cool-headed

<html><body>Australian Property Monitors (APM) has released a list of results from 218 auctions in Sydney for the weekend of April 14. The clearance rate was 55.5%. <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 218 Sydney auction results showing a clearance rate of 55.5%

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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. 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 <a target="_blank" href="https://maroubra.ljhooker.com.au/P9SFA0">is marketing the property </a>with price hopes in the "early $500,000s", and if it sells for $510,000 that would secure an investor a gross rental yield of 5.3%, 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.
<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.
The property will go to auction on Thursday, April 26 at 6.30pm and is open for inspection Saturday, April 14 at 1pm.
For more about prices and yields in Kingsford, see the RP Data suburb page.
For another investment prospect going to auction this weekend, see page 2.
 
<hr class="system-pagebreak">
14/13 Ormond Road, West Footscray
<img src="/images/stories/ormondroad.jpg">
The tenant of this one-bedroom West Footscray unit is paying $802 per month and is on an expired lease. The property includes a laundry and has a car park on its title. 
Sweeney Real Estate agent Ruby Sweeney<a target="_blank" href="https://www.sweeneyestateagents.com.au/profile.php?clientid=sweencp&amp;cat=sales&amp;propertyid=3824075"> is marketing the property</a> with price hopes of $180,000 plus, and if it sells for that price at its current rent it would secure an investor a gross rental yield of 5.4%, well above the indicative gross rental yield of 4.1% for West Footscray 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 median asking rent for West Footscray is $260 per week, or $1,127 per month.
<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 $4,500 and over five years to be $12,500.
The median unit price in West Footscray rose 10.5% in the past year, according to RP Data.
The property will be open for inspection on Saturday, April 14 at 1.30pm and will go to auction on Saturday, May 12 at noon.
For more about prices and yields in West Footscray see the<a target="_blank" href="/news"> RP Data suburb page</a>.
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Friday form guide: Yields of up to 5.3% in Kingsford

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Keeping with my past posts around holiday periods today’s memo doesn’t related exactly to residential property but looks through a wider lens.
Below are “20 rules of the road”, so to speak.  I like to collect such stuff and stick them in a folder for future use.  Most of the time, my two daughters have been the only ones to suffer my summations, but now I have a wider audience.
So here goes, 20 rules for a metamodern world.
<ol start="1">
<li>Drink plenty of water, eat breakfast like a king, lunch like a prince and dinner like a beggar.</li>
<li>Live the three Es – Energy, Enthusiasm and Empathy.</li>
<li>Sleep for seven hours; walk every day for 30 minutes – smile when you walk – and sit in silence for 10 minutes twice a day.  Plus, read more books this year than you did last year.</li>
<li>Never let the weeds get higher than the garden.</li>
<li>But find some time to dream more while you are awake.</li>
<li>Only you are in charge of your happiness.</li>
<li>Don’t compare yourself to others; don’t take yourself too seriously – no one else does – and forget your past (or at least make peace with it).</li>
<li>Everything cycles – however good or bad a situation is, it will change.</li>
<li>What people think of you is none of your business and people who don’t want to be in it (whatever “it” is to you) are not important.</li>
<li>Call your family often and spend more time with people over 70 and under 15.</li>
<li>Get rid of anything that isn’t useful, beautiful or joyful.</li>
<li>Live smart – you only have so many hours in your day, your week, your year and in your life.</li>
<li>Work and love are both verbs.  A verb is an “action” or “doing” word.  Love isn’t a feeling.</li>
<li>Build your own portfolio – personal brand, network and experiences.</li>
<li>Find time for a hobby.</li>
<li>Life really is a “hard contact” sport.  You have to get out there and mix it up.  Staying indoors just doesn’t cut it.</li>
<li>Determine why you are here – what is your purpose.  It doesn’t matter what it is, but it needs to be defined in under 10 words or counted off on three fingers.</li>
<li>No matter how you feel, get up, get dressed and show up. “Get behind the mule, every day, and plough” to quote Tom Waits.</li>
<li>Being alive must be much better than being dead.  Waking up every morning is a blessing.</li>
<li>Never give up – rest occasionally, reset if needed – but keep swinging.  To quote Waits again – “always keep a diamond in your mind”.</li>
</ol>
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 href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
 
 
 
 
 
<ol start="1"></ol>
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The 20 rules to live your life by

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As part of our property development project management process, after locating a suitable development site, we’ll then recommend to clients the type of design of villas that the development requires.  This is very important because there is a fine line between building for the market and overcapitalising.
We look at four things to determine the level of building investment required:
<ul>
<li>Demographics for the suburb</li>
<li>Surrounding properties to the site</li>
<li>Tenant demand in the area</li>
<li>Recent sales references in the suburb</li>
</ul>
Today I looked at a dual-occupancy site in a suburb that had a couple of different demographics: young families with one or two kids attending the local private school and retirees looking to downsize and live close to shopping facilities in low-maintenance properties.
I’d been given a build cost based on what had been built in this estate to date. It is an upmarket estate.  The build cost for a three-bedroom, two-bathroom duplex to the standard that had already been built in the suburb was around $400,000.
I knew we could build a similar duplex, slightly smaller without a walk-in wardrobe to the master bedroom (that the other duplexes have) for about $370,000. There were other small differences to the façade and finishes, but were they worth the difference of $30,000?  My take on it: nup, because tenant demand is high and we could get the same rent as the other, slightly “better” villas in the area.
A few years ago, I build some fabulous duplexes in an upmarket estate in the Lower Hunter region of NSW.  I wanted to build something of a standard above what was being offered in this estate. So I had the duplex architecturally designed with asymmetrical roof lines in lieu of a pitched roof and we included upgrades such as rendered external finish instead of brick, stone kitchen and vanity benches, shadow line finish to living areas, upgraded European appliances and smart-looking column fencing with aluminium slats.  I thought when the bank valuers see these villas they will see that they are higher in standard than the past sales references of three-bedroom, two-bathroom villas in the area.
Wrong.  The valuer looked at past sales of three-bedroom, two-bathroom attached villas and valued them at the same level.  The upgrades we’d included were not seen to be substantial enough, but of course they did add to the build cost.  A few years later the client decided to sell one of the villas, he was convinced by a local agent that the price was acceptable for three-bedroom, two-bathroom villas as that was what they had sold for before.   I’m sure if the client had “sold” the property to the agent, meaning he needed to emphasise all the points of difference that his villa had to the others, he may have sold at a higher price (mind you, a good agent would pick up on these “selling points”), but he didn’t and so his more upmarket villa did sell at the same price as the stock-standard ones.
So now I’m faced with the opposite opportunity. Can we build slightly below what is in the market, save on costs but end up with the same value on completion?   I reckon we can. Being a bit of a city slicker, I’d always thought higher cost means higher quality.  But I also have a “value for money” vein running through me.  I ran the numbers and our client is looking at making an additional $30,000 or so in equity out of this project for not much concession.
As a property developer, I think this can sometimes be a better option.  Look to build slightly below the market than the other way around.  But this is based on this particular location in a large regional country area.  It may be different in capital cities. My message today:  walk the fine line well and you could make more than if you pay for the fine upgrades.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" title="Property Bloom" target="_blank">Property Bloom</a>, which manages property development.
 
 
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