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

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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Buyers have shown strong interest in the R Corporation’s new Central Park development in the Melbourne suburb of Cheltenham, with just over half of the 52 townhouses sold just three days after the first stage of the development officially launched on Saturday, March 17.
About 120 groups went through the display centre during the weekend of the project’s launch. Ten of the townhouses were sold over the weekend. Pre-sales began for the development in November last year but ceased during the Christmas period. Pre-sales began again in February 2012.
<img src="/images/stories/cheltcentralpark1.jpg">
Central Park will offer six styles of townhouse, all named after flowers. They range from the two-bedroom, 121-square-metre Jasmine, which is priced from $530,000, to the three-bedroom, 170-square-metre Orchid, priced from $825,000. All styles come with carports or garages, with the Orchid including a double garage. The first stage of the development offers five styles, with Jasmine the only two-bedroom model available. All models have two bathrooms.
There will be four stages of 52 townhouses each.
<img src="/images/stories/cheltcentralpark2.jpg">
“For us it’s about delivering a design-focused townhouse that truly caters to the modern lifestyle our customers lead,” says R Corporation marketing manager Rohan Ames.
“We take our knowledge and heritage of the designer apartment market and apply this approach and ability to design efficient living spaces for the townhouses. The benefit now is that with townhouses we have more room to play with and there isn’t a need to compromise on space. Bathrooms can be more spacious and accommodate double showers and dual basins, living spaces are large, bright and open, and bedrooms feature walk-in robes,” Ames says.
<img src="/images/stories/cheltcentralpark3.jpg">
Central Park is aimed at upgraders who are buying their second or third homes.
“R. Corporation has recognised there is a largely ignored market that have outgrown their small apartment, but are not at the stage in life where they are considering, or can afford a large detached family home on a quarter-acre block,” Ames says.
The development’s target demographic is younger buyers who want the convenience of an inner-city lifestyle without being forced to live in tiny units.
<img src="/images/stories/cheltcentralpark4.jpg">
“The modern home buyer wants the design aesthetic of an inner city apartment, but with more space for entertaining and relaxing, and which also gives them more options for the next phase of their life,” says Ames.
“In many suburbs the only alternative to an apartment in their price range is a dated existing home. These often require renovations to cater to a modern lifestyle, and they’ll find themselves spending their weekends maintaining the garden, mowing the lawn or worrying about whether the roof will leak. Instead they want a modern home that they can enjoy with friends and family but is also easy to maintain.”
 
 
 
 
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Upgraders showing strong interest in Cheltenham townhouse development Central Park

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1/102 David Street, Dandenong, VIC, 3175
<img style="border-style: initial; border-color: initial; max-width: 480px;" src="/images/stories/davidst.jpg"> 
This two-bedroom unit is currently rented until November this year at $1,227 per month, meaning it could be a good prospect for investors. It has been recently renovated and has hardwood floors and a carport. 
It was passed in at its weekend auction on a vendor's bid of $240,000. There were three bidders at the auction.
McDonald Real Estate agent Trevor Mendis <a target="_blank" href="https://mcdonaldre.co/details/?pid=531205">is markeing the property</a> with price hopes of $260,000. Before auction Mendis provided a price guide of $240,000 plus. If it sells for $260,000, that would secure an investor a gross rental yield of 5.7%, far higher than the indicative gross rental yield of 4.8% for Dandenong 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 $4,000 and over five years to be $8,000.
The median unit price for Dandenong fell by 1.4% in the past year, according to RP Data.
For more about prices and yields in Dandenong, see the RP Data suburb page.
 
 
 
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Investor form guide wrap: Yields of up to 5.7% in Dandenong

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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 results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
This week most properties in the competition sold under the hammer or just after auction, with two of five Brisbane properties passed in and all five in Melbourne and Sydney finding buyers.
<img src="/images/stories/bastings.jpg">
The Melbourne property featured on Property Observer, 32 Bastings Street, Northcote (pictured above) sold just after auction. 
"In Melbourne a huge crowd came out to see the auction of 32 Bastings Street, Northcote. Initially no one wanted to be the first to bid but eventually two bidders came out from behind the trees, literally," says Mark Armstrong of Property Tycoon.
"The property was passed in for $1.5 million and sold shortly after for $1.6 million. A great result for the owner given they purchased the property for just under $1 million six years ago."
<img src="/images/stories/boyce.jpg">
The Sydney property featured on Property Observer, 7 Boyce Street, Glebe (pictured above), "enticed three bidders into the auction, and the property sold under the hammer for $1.65 million," says Armstrong.


"While this price is $150,000 more than the owner paid in 2008 it represents an annual growth rate of under 3% and illustrates the downside of holding property for a short period of time."
But unusually, it was the Brisbane property, 17 Pauline Street, Tarragindi (pictured below) that had the most interest. 
<img src="/images/stories/pauline.jpg">
"Brisbane's market continues to show pockets of strength, with a massive auction for the large seven-bedroom home at 17 Pauline Street, Tarragindi," Armstrong says.
"Ten parties were keen to call this place home, but only one was prepared to pay the $1.32 million that was required."
 
 
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Strong results for weekend auction tipping, with most properties selling at or after auction

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There are 47 suburbs currently offering property investors gross rental yields of 6% or more with list headed by the remote Queensland mining and agricultural town of Roma, analysis of Smart Investor magazine’s top 601 suburbs list has revealed.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
NSW has the highest proportion of high-yielding suburbs with 13, followed by 12 in Queensland, 10 in Victoria, six in Tasmania three in South Australia, two in Western Australia and one in the Northern Territory.
Roma, a town in the western Darling Downs area of south-west Queensland, 515 kilometres west of Brisbane, is currently offering the highest gross rental yield of all 601 suburbs on the list.
Houses in Roma have a gross rental yield of 8.7% with a median price of $300,000 and a median weekly rent of $300.
Next on the list is the small town of Queenstown (just 5,000 people) in the western coast region of Tasmania, where the median house prices is under $90,000.
Weekly median rents in Queenstown are $150, equating to a yield of 8.2%. The town is the home of the West Coast Wilderness Railway, a 35-kilometre journey to Strahan on a 100-year-old steam-powered locomotive as well as a thriving arts community.
NSW’s top-yielding location is also extremely remote – Broken Hill in the NSW outback, where the median house price is just $127,500, the median weekly rent is $200 and the median gross rental yield is 7.5%.
NSW suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Broken Hill houses
</td>
<td width="154" valign="top">
$127,500
</td>
<td width="154" valign="top">
$200
</td>
<td width="154" valign="top">
7.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Warwick Farm units
</td>
<td width="154" valign="top">
$226,000
</td>
<td width="154" valign="top">
$280
</td>
<td width="154" valign="top">
7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Moree houses
</td>
<td width="154" valign="top">
$231,500
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6.9%
</td>
</tr>
<tr>
<td width="154" valign="top">
Lakemba units
</td>
<td width="154" valign="top">
$256,000
</td>
<td width="154" valign="top">
$320
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
West Kempsey houses
</td>
<td width="154" valign="top">
$215,000
</td>
<td width="154" valign="top">
$250
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Fairfield units
</td>
<td width="154" valign="top">
$260,000
</td>
<td width="154" valign="top">
$315
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Wiley Park units
</td>
<td width="154" valign="top">
$270,000
</td>
<td width="154" valign="top">
$315
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Kurri Kurri houses
</td>
<td width="154" valign="top">
$257,500
</td>
<td width="154" valign="top">
$290
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Gunnedah houses
</td>
<td width="154" valign="top">
$269,000
</td>
<td width="154" valign="top">
$285
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Glenn Innes houses
</td>
<td width="154" valign="top">
$199,000
</td>
<td width="154" valign="top">
$200
</td>
<td width="154" valign="top">
6.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
Young houses
</td>
<td width="154" valign="top">
$235,000
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Roselands units
</td>
<td width="154" valign="top">
$323,500
</td>
<td width="154" valign="top">
$330
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Minto houses
</td>
<td width="154" valign="top">
$318,500
</td>
<td width="154" valign="top">
$350
</td>
<td width="154" valign="top">
6%
</td>
</tr>
</tbody></table>
 
 Queensland suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Roma houses
</td>
<td width="154" valign="top">
$300,000
</td>
<td width="154" valign="top">
$480
</td>
<td width="154" valign="top">
8.7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Emerald houses
</td>
<td width="154" valign="top">
$412,250
</td>
<td width="154" valign="top">
$550
</td>
<td width="154" valign="top">
7.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Calliope houses
</td>
<td width="154" valign="top">
$447,000
</td>
<td width="154" valign="top">
$550
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Spring Hill units
</td>
<td width="154" valign="top">
$388,500
</td>
<td width="154" valign="top">
$450
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Brisbane units
</td>
<td width="154" valign="top">
$430,000
</td>
<td width="154" valign="top">
$295
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Nth Mackay houses
</td>
<td width="154" valign="top">
$350,000
</td>
<td width="154" valign="top">
$432
</td>
<td width="154" valign="top">
6.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
S. Gladstone houses
</td>
<td width="154" valign="top">
$395,000
</td>
<td width="154" valign="top">
$370
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Glen Eden houses
</td>
<td width="154" valign="top">
$463,000
</td>
<td width="154" valign="top">
$550
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Slade Point houses
</td>
<td width="154" valign="top">
$380,000
</td>
<td width="154" valign="top">
$400
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Clinton houses
</td>
<td width="154" valign="top">
$450,000
</td>
<td width="154" valign="top">
$520
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
W. Gladstone houses
</td>
<td width="154" valign="top">
$410,000
</td>
<td width="154" valign="top">
$430
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Sth Mackay houses
</td>
<td width="154" valign="top">
$360,000
</td>
<td width="154" valign="top">
$390
</td>
<td width="154" valign="top">
6%
</td>
</tr>
</tbody></table>
 Victorian suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Red Cliffs houses
</td>
<td width="154" valign="top">
$173,500
</td>
<td width="154" valign="top">
$180
</td>
<td width="154" valign="top">
7.9%
</td>
</tr>
<tr>
<td width="154" valign="top">
Morwell houses
</td>
<td width="154" valign="top">
$165,000
</td>
<td width="154" valign="top">
$180
</td>
<td width="154" valign="top">
6.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Morwell houses
</td>
<td width="154" valign="top">
$165,000
</td>
<td width="154" valign="top">
$180
</td>
<td width="154" valign="top">
6.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Moe houses
</td>
<td width="154" valign="top">
$160,000
</td>
<td width="154" valign="top">
$190
</td>
<td width="154" valign="top">
6.7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Maryborough houses
</td>
<td width="154" valign="top">
$185,000
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Horsham houses
</td>
<td width="154" valign="top">
$214,000
</td>
<td width="154" valign="top">
$225
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Eaglehawk houses
</td>
<td width="154" valign="top">
$234,250
</td>
<td width="154" valign="top">
$270
</td>
<td width="154" valign="top">
6.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
White Hills houses
</td>
<td width="154" valign="top">
$274,000
</td>
<td width="154" valign="top">
$275
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
California Gully houses
</td>
<td width="154" valign="top">
$227,500
</td>
<td width="154" valign="top">
$260
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Norlane houses
</td>
<td width="154" valign="top">
$203,000
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
</tbody></table>
 Tasmania suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Queenstown houses
</td>
<td width="154" valign="top">
$89,500
</td>
<td width="154" valign="top">
$150
</td>
<td width="154" valign="top">
8.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
Bridgewater houses
</td>
<td width="154" valign="top">
$177,000
</td>
<td width="154" valign="top">
$245
</td>
<td width="154" valign="top">
7.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Ravenswood houses
</td>
<td width="154" valign="top">
$163,500
</td>
<td width="154" valign="top">
$200
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Rokeby houses
</td>
<td width="154" valign="top">
$209,000
</td>
<td width="154" valign="top">
$248
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Glenorchy houses
</td>
<td width="154" valign="top">
$255,000
</td>
<td width="154" valign="top">
$290
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Invermay houses
</td>
<td width="154" valign="top">
$216,500
</td>
<td width="154" valign="top">
$250
</td>
<td width="154" valign="top">
6%
</td>
</tr>
</tbody></table>
 South Australia suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Ceduna Houses
</td>
<td width="154" valign="top">
$265,000
</td>
<td width="154" valign="top">
$270
</td>
<td width="154" valign="top">
6.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Roxby Downs houses
</td>
<td width="154" valign="top">
$415,000
</td>
<td width="154" valign="top">
$460
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Elizabeth Downs houses
</td>
<td width="154" valign="top">
$197,000
</td>
<td width="154" valign="top">
$240
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
</tbody></table>
 WA suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Kalgoorlie houses
</td>
<td width="154" valign="top">
$312,000
</td>
<td width="154" valign="top">
$370
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Boulder houses
</td>
<td width="154" valign="top">
$263,000
</td>
<td width="154" valign="top">
$320
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
</tbody></table>
 
NT suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Katherine East houses
</td>
<td width="154" valign="top">
$335,000
</td>
<td width="154" valign="top">
$380
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
</tbody></table>
</body></html>

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The 47 brightest localities for rental yields on Smart Investor's list of 601 suburb hotspots

<html><body>Australian Property Monitors (APM) has released a list of results from 358 auctions in Sydney for the weekend of March 17. The clearance rate was 58%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 358 Sydney auction results showing a clearance rate of 58%

<html><body>
The inner-Melbourne suburb of Abbotsford is becoming a development hotspot as the suburb sheds its industrial past and buyers look for inner-city living on the Yarra River.
Some developers are revamping the existing factory and warehouse buildings to create contemporary designs with a nod to the past, while others are going the more modern route.
<img src="/images/stories/trenerry-river.jpg">
One example of the former is the Trenerry project (pictured above and below), a 109-unit development in a heritage industrial building.
“It also features a chimney stack, giving Trenerry a look and feel that is unmistakably Abbotsford,” says Rob DiCintio, director of Trenerry Property Group.
<img src="/images/stories/trenerrycar.jpg">
Builder Hamilton Marino has begun construction on the development, which is due for completion in mid-2013.
The apartments went on sale in October last year, and so far developers Trenerry Property along with the Victor Smorgon Group and the Kanat family have sold 65% of the units, or $42 million in pre-sales.
Its one-bedroom, one-bathroom apartments are priced from $465,000, with the two-bedroom, two-bathroom apartments from $530,000. Both configurations come with one car park. Some 92 of the two-bedroom apartments will have two-bathrooms, along with all the three-bedroom apartments.
The average apartment size will be 75 square metres internally, plus all apartments come with balconies, offering riverfront, CBD or Studley Park views. The development comes with easy access to the Capital City Trail.
It has been designed by Carabott Holt Architects.
<img src="/images/stories/greensquare2.jpg" style="border-style: initial; border-color: initial;">
A developer taking the opposite approach in Abbotsford is Salta, whose Green Square development (pictured above and below) is ultra-contemporary with an emphasis on sustainability.
Far from an industrial focus, the appropriately named Green Square aims to embrace the natural environment, with numerous open spaces for residents.
<img src="/images/stories/greensquare1.jpg" style="border-style: initial; border-color: initial;">
“The architectural vision for Green Square is to bring together the energy of contemporary urban living with the calm and gentle amenity of the adjoining Yarra River that will imbue the green open spaces permeating the project,” says Charles Justin of SJB Architects, which is designing the project.
The development will feature 467 one- and two-bedroom apartments across four buildings, 210 one-bedroom units and 257 units with two bedrooms. Of the two-bedders, 222 will include two bathrooms.
One-bedroom apartments will range in size from 47 square metres to 57 square metres and start from $369,000.
<img src="/images/stories/greensquare5.jpg">
Two-bedroom apartments, which start from $525,000, range in size from 63 square metres to 92 square metres. All of the units come with outdoor areas.
<img src="/images/stories/greensquare6.jpg">
The development launched in February 2011, and thus far 62.5% of the apartments have been sold. Construction is due to begin in June of this year and finish in May 2014.
So far, two-thirds of buyers who have been owner-occupiers.
Jack Merlo of Jack Merlo Design says buyers are drawn to a sense of community fostered by the project.
<img src="/images/stories/greensquare7.jpg">
““The importance of recreational space is often overlooked when designing residential apartments – we have been fortunate to set a new precedent with Green Square. The combination of semi-secluded and open spaces encourages people to indulge in private and public amenities including an edge pool, barbecue areas, day beds and shaded spaces,” Merlo says.


<hr class="system-pagebreak">
Developer Hamton is taking a slightly different approach in the suburb, with its Haven development (pictured below), aimed at prestige buyers. Haven is the second of a three-stage development in the area, and the first, 201-unit Eden, sold out. The three together are set to have 560 apartments.
<img src="/images/stories/haven1.jpg">
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site,“ says Hamton joint managing director Paul Hameister.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
The same demographic has snapped up Haven units, with 30% of the 148 units sold in the first fortnight of marketing in November last year.
Hamton sales director Cameron Yates says there has been in upturn in inquiries from and sales to high-end buyers since February this year.
<img src="/images/stories/haven2.jpg">
“We have seen a bounce in the market in the last month – particularly from the discerning owner-occupier looking for premium location and facilities,” he says.
<img src="/images/stories/haven3.jpg">
“Of the 24 apartments sold since the 6th February, 10 were priced over $900,000. Three penthouse suites sold for between $1.9 million and $2.3 million. Quality product and outstanding lifestyle amenity always have a place in the market.”
Haven will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street. 
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
All three developers are making use of Abbotsford’s riverside location and open spaces.
“The desire for waterfront living in city-fringe areas is an evolving trend in the Melbourne market,” says Rob DiCintio, director of Trenerry Property Group.
</body></html>

Inner-Melbourne suburb of Abbotsford becoming a development hotspot

<html><body>
Sydney and Perth suburbs, many of them in the cities’ outer rings, dominate a list of 42 top price growth hotspots for 2012.
The 42 suburbs have been cherry-picked from the “601 Top Suburbs” report compiled by Smart Investor magazine.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
Out of the 601 suburbs, only 19 are expected to show price appreciation of more than 5% with eight each in NSW and Western Australia and three in Queensland.
Indicating the subdued outlook for Victoria in 2012, only seven suburbs are forecast to deliver returns of 4%.
The NSW list is made up entirely of Sydney suburbs, with half of these in the outer west – a growth hotspot identified by the likes of <a href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164" target="_blank">SQM Research director Louis Christopher and Douglas Driscoll, CEO of Starr Partners</a>.
The WA list indicates a developing hotspot south of Perth, with median house price in Thornlie, Canning Vale and Willetton expected to grow more than 5% in 2012.
The Queensland list is made up entirely of remote mining towns.
NSW top growth suburbs in 2012 (5% plus)
<ol>
<li>Cremorne Point units (north shore)</li>
<li>Hillsdale units (eastern suburbs)</li>
<li>Smithfield houses (outer west)</li>
<li>Five Dock houses (west)</li>
<li>Condell Park houses (outer west)</li>
<li>North Rocks houses (outer west)</li>
<li>Villawood houses (outer west)</li>
<li>Marsfield units (north west)</li>
</ol>
WA top growth suburbs in 2012 (5% plus)
<ol>
<li>West Perth houses and units</li>
<li>South Hedland houses (mining, Pilbara)</li>
<li>Willetton houses (south Perth)</li>
<li>Bassendean houses (north east Perth)</li>
<li>Port Kennedy houses (outer south Perth)</li>
<li>Thornlie houses (south east Perth)</li>
<li>Boulder houses (west Perth)</li>
<li>Canning Vale houses (south Perth)</li>
</ol>
Queensland top growth suburbs in 2012 (5% plus)
<ol>
<li>Moranbah houses (mining, Isaac region)</li>
<li>Blackwater houses (mining near Rockhampton)</li>
<li>Emerald houses and Units (mining, central highlands)</li>
</ol>
Victoria top growth suburbs in 2012 (4%)
<ol>
<li>McCrae houses</li>
<li>Kialla houses</li>
<li>Maryborough houses</li>
<li>Portland houses</li>
<li>Horsham houses</li>
<li>Red Cliffs houses</li>
<li>Miners Rest houses</li>
</ol>
South Australia top growth suburbs in 2012 (4% plus)
<ol>
<li>Roxby Downs houses</li>
<li>Ingle Farm houses</li>
<li>MunnoParaWest houses</li>
</ol>
ACT top growth suburbs in 2012 (4% plus)
<ol>
<li>Gungahlin houses</li>
<li>Monash houses</li>
</ol>
TAS top growth suburbs in 2012 (4% plus)
<ol>
<li>New Town units</li>
<li>Queenstown houses</li>
<li>Lenah Valley houses</li>
<li>New Town houses</li>
<li>Blackmans Bay houses</li>
</ol>
NT top growth suburbs in 2012 (4% plus)
<ol>
<li>Roseberry houses and units</li>
<li>Bellamack houses</li>
<li>Parap units</li>
<li>Stuart Park houses</li>
<li>Bakewell houses</li>
<li>Gunn houses</li>
</ol>
 
 
 
<ol></ol>
</body></html>

The 42 brightest prospects for price growth on Smart Investor's list of top 601 suburb hotspots

<html><body>
Auction activity will pick up significantly in Melbourne this weekend and to a smaller degree in Sydney, with just two weekends to go until super Saturday on March 31.
The Real Estate Institute of Victoria says there are 700 auctions planned in Melbourne compared with just 183 last weekend, but still fewer than the 956 auctions listed for the same weekend last year, which had a clearance rate of 64%.
The highest number of auctions will be in Hawthorn, with 15 homes on offer followed by 12 each in Northcote and Richmond.
The REIV expects auction numbers to reach to 1,000 by the March 31 weekend.
“The number of homes on offer at auction so far this year is comparatively low, so the increase stock levels should be welcomed by buyers,” says the REIV.
“A review of clearance rates shows a clear regional trend emerging of the inner city, inner east, inner south and north eastern areas performing above trend.”
Australian Property Monitors says there are 466 auctions planned for Sydney this weekend compared with the 380 scheduled for last weekend. However, this is still 15% fewer than the same weekend last year. 
Strathfield is again a popular auction location, with eight listings. Abbotsford, Leichhardt and Turramurra have seven listings each. 
There are 432 auctions scheduled for the following weekend (March 24th) with a “big weekend” in store for March 31st (the week before Easter) with 732 listings.
</body></html>

Melbourne and Sydney auctions pick up in countdown to Easter super Saturday

<html><body>
Renters are growing increasingly concerned about their job prospects, analysis of the results of the March Westpac- Melbourne Institute Consumer survey has revealed.
Unemployment fears among tenants have been on the rise since about March last year.
Over the same period fears about the job market have subsided among those already in the property market – those who own their homes outright or have a mortgage.
As a result, the outlook about employment prospects between the two groups (renters versus property holders) is diverging.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch151.gif"><img src="/images/stories/westpacmarch151thumb.gif"></a>
Renters are most likely more sensitive to modest job growth due to feeling less financially secure then those who already accumulated wealth through property ownership. This graph shows how total employment has slowed recently:
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch152.gif"><img src="/images/stories/westpacmarch142thumb.gif"></a>
The survey also revealed that all sectors of the economy are worried about their job prospects.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch153.gif"><img src="/images/stories/westpacmarch153thumb.gif"></a>
And that concerns about employment have spread beyond Sydney and Melbourne to include states benefiting from the mining boom.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/westpacmarch154.gif"><img src="/images/stories/westpacmarch154thumb.gif"></a>
 
</body></html>

Renters increasingly fearful of unemployment: Westpac

<html><body>
You’ve found what you think is a brilliant development site.  Now it’s time to jump on that roller coaster and start the ride of your life as you commence the analysis process.  Will the project be feasible?  What is feasible, anyway?
Let’s find out.  Feasible is really another word for “is it going to be financially worth it for you to spend your time, energy, money, blood, sweat and tears developing this site?”.
Some advice I can give you about property investing and anyone in property will also tell you, to stay emotionally unattached to the property, as this is where bad decisions can be made. I have seen it many times, and this is where it can all come undone.
Firstly, it’s important to determine your development strategy and your investing criteria prior to looking for a development site.  Your strategy may include:
<ul>
<li>Land subdivision</li>
<li>Renovating an existing dwelling</li>
<li>Dual-occupancy or low-density development</li>
<li>Renovating an existing dwelling and building new villas/units also on the land</li>
<li>Medium-density development</li>
<li>All of the above</li>
</ul>
Your budget will help to determine your development strategy. A simple land subdivision will be less costly (but not necessarily quicker) than a larger villa/unit development, for instance.
As part of your strategy, you will need to think about what profit margin you would feel comfortable making from a development.   You may have heard about the “20% profit margin” rule for developers?   Once all development costs are taken from the potential sale result of the properties, (when selling the properties) there will be a 20% profit margin.  Personally, I don’t always work back from a certain profit margin, as I find this restrictive.
Most of my clients are looking to boost their portfolios and hold the new properties long term, so we also need to meet other criteria.  By other criteria, I mean rental returns on completion.  For instance, if a client wants to create a positively geared development the end gross yield will need to be around 10% and we will actively search for development sites in very strong rental areas of the Hunter region of NSW to meet this objective.  Other criteria will include the amount of equity we can create from the project.  We strive to create over $100,000 in equity after our project management fee.
To determine the feasibility of a site, you will need to:
<ul>
<li>Talk to an accountant who specialises in property and one who preferably develops property him or herself as he or she can advise you on the best structure to purchase under and explain the tax implications when developing such as GST and CGT. </li>
<li>Meet with a financial lender or a bank to determine your budget and the best loan structure for your development.  It’s important to choose a lender that offers construction loans and find out what their lending criteria is around this, i.e. not all residential lenders will lend to you for a four unit site for instance.  Check interest rates on these loans.</li>
<li>Meet with solicitor to determine his or her costs. He or she will check for restrictive covenants or easements that may affect the land and will also make sure services are available and connected, especially if you are developing in a new area, as well as finalising the deal for you.</li>
<li>Read the local development control plan (DCP) and local environment plan (LEP) and speak with your council’s town planner to find out development application and CC (construction certificate) costs. Get friendly with the town planner to find out which developments the town wants to see in the area, as this could save you time and money by getting it right the first time. </li>
<li>Meet with an architect and builder to determine what you can build on the site.  Some builders offer standard designs which will save you design fees.  If they do this, then they will be familiar with the local planning requirements.  If you are not happy with a standard design, engage a local architect to design specifically for the site. Get a quote.</li>
<li>A surveyor will give you advice on the subdivision process. He or she will prepare your subdivision plan and estimate costs relating to the subdivision including sewer extension and service connection costs. </li>
<li>Once you have a concept design and before you lodge your DA, meet with builders to determine construction costs. Try to get three quotes and make sure they offer you a fixed-price contract.</li>
<li>Talk to real estate agents to determine the value of your development and rental returns on completion as this will have huge impact on the success of the feasibility.</li>
<li>Research other costs such as stamp duty, reports, insurance and interest payments.</li>
</ul>
The aim is to keep the above costs to a minimum so you will receive a higher profit margin. All this information can be kept in a spreadsheet, or there are software programs to help you with this process.
Below is a quick one-page analysis I do to determine if a development is going to be feasible. In this case the client is keeping the three properties we have created from one.
Purchase price three-bedroom house on 1,012 square metres of land: $210,000 Estimated set-up costs, stamp duty, legals, pest and building reports, survey: $8,500 Estimated renovation cost: $8,000 Build cost for a two-bedroom duplex (2 x villas) to be built behind existing house: $353,000 Contingency:  $20,000 Note: build costs includes all council, subdivision and other fees and charges. I always ask my builder to wrap all development costs into their contracts so my clients can maximise their lending.
Total development cost to create three properties from one in Hunter region of NSW:  $599,500 
Estimated end values:
Renovated three-bedroom house on 400 square metres:  $220,000
Two-bedroom villas $260,000 each:  $520,000
Total end values:  $740,000
Potential gross equity to be created: $140,500
Note: lending costs are not included at this stage:
 
Estimated rental returns:
Renovated house: $300 per week
Two-bedroom villas @ $280 per week each:  $560 per week
Total rental return: $860 per week or $44,720 per year
Gross yield on completion of development: 7.5%
 Gross rental yield: How it works One of the first calculations you will need to understand if you intend renting the properties on completion is the gross rental yield (GRY). To calculate the GRY you need the annual rent and the total cost of the development. If we use the above example:
Annual rent: $860 per week x 52 = $47,720pa Total development costs: $599,500 Gross yield: $47,720 divided by $44,720 =  7.5%
The yield on the above example of 7.5% is ideal at the moment, as anything over 7% is considered to be a strong yield.  Some of our developments are creating up to a 10% gross yield.
Once you have obtained the estimates for your development and the figures are looking good, you have some actual estimates to go back and speak to your lender about and ensure you can finance the project. There are various finance options so seek professional advice on the best one for your situation.  Then before you purchase, ensure you have discussed the best legal entity to be purchasing under for your individual circumstances with your accountant.
When your finance is preapproved, you can then start to negotiate the purchase. Always ensure you have a preapproval before making an offer so you can move quickly to exchange. This is a good negotiation tool.  Ask for a longer settlement and a lower deposit which will reduce your holding costs.
There are many more things to consider for your site selection, so it’s important you do your due diligence.  In the development game, time is money. So you will need to learn to assess a potential site very quickly. One way to fast track the analysis process is to engage other professionals to do this important work for you.  If it is your first development then work with an experienced project manager so you can learn from them as you progress through the complicated and challenging journey of your property development.  Enjoy the ride!
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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