<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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SQM research director Louis Christopher says he agrees with TV presenter David Koch's dire assessment of the Gold and Sunshine coast markets and points out that three of the top four most discounted homes in Australia are in Queensland.
Christopher  recalls that <a href="https://www.propertyobserver.com.au/queensland/sunshine-coast-mayor-slams-kochie-for-catastrophic-warning-to-property-investors/2012012353114" target="_blank">like Kochie</a>, he also came under fire from local agents and media for his gloomy assessment of the Queensland market last year.
"Although this bleak forecast may have angered certain industry groups, it has indeed come to pass and Queensland – more specifically the Gold Coast and Sunshine Coast – have posted dramatic house price falls," Christopher says.
"David Koch from network 7's Sunrise also appears to have irritated some real estate agents and journalists recently by sharing a similar view to ours on the state of the Queensland market."
Kochie<a href="https://www.propertyobserver.com.au/residential/kochie-sets-his-sights-on-estate-agents-and-journalists-in-queensland-property-catastrophe-stoush/2012013053183" target="_blank"> recently hit back at his critics</a>, saying he was right to call the Gold and Sunshine coasts "catastrophic" for property investors and called into question the integrity of those who opposed him.
“In any survey of trustworthiness real estate agents and journalists always appear at the bottom of the list," he said.
1
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016">92 Beelong Street, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 608
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008940771">102 Fountain Road, Burpengary, Queensland, 4505</a>
On the market since: April 17, 2011
Initial asking price: $1.2 million
Current asking price: $699,000
Reduction: 42%
Days on market: 281
 
 
 
3
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 589
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106866439">329 Waterford Road, Ellen Grove, Queensland, 4078</a>
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 462
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106364068" target="_blank">22 Fenton Avenue, Christies Beach, SA, 5165</a> (pictured)
On the market since: March 6,  2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 686
 
6
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008729828" target="_blank">2/18 Campbell Crescent, Terrigal, NSW, 2260</a>
On the market since: December 11, 2010
Initial asking price: $1.99 million
Current asking price: $1.25 million
Reduction: 37%
Days on market: 406
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106990132" target="_blank">211 Jetty Road, Eaglehawk Neck, Tasmania, 7179</a>
On the market since: November 14, 2010
Initial asking price: $595,000
Current asking price: $375,000
Reduction: 37%
Days on market: 434
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614" target="_blank">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 540
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,327
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 756
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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cknowlton-QnEa6ntUYP

Kochie's right - stay away from the Gold and Sunshine coasts: SQM director Louis Christopher

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108 Ormond Road, East Geelong, VIC, 3219
<img src="/images/stories/ormondrd.jpg">
This two-bedroom house in East Geelong is tenanted at $280 per week until November 2012, and its high rental yield could make it a good prospect for investors.  Geelong has become an investor magnet in recent times, with hotspotting.com.au director Terry Ryder and Your Investment Property magazien picking the regional city <a href="https://www.propertyobserver.com.au/victoria/hotspot-geelong-s-on-the-ball-with-rising-yields/2011100451798" target="_blank">as a fast-growing hotspot</a>. Barry Plant Geelong agent Natalie Timonowicz<a target="_blank" href="https://www.barryplant.com.au/geelong/index.cfm?pagecall=property&amp;propertyID=1951591&amp;realestate=108_Ormond_Road_EAST_GEELONG_VIC_3219&amp;menuItemID=49535&amp;propertyIDList=1952986,1951591"> is marketing this property</a> with price hopes of $250,000 plus. If it sells for $250,000 that would be a gross rental yield of 5.8%, much higher than the indicative gross rental yield for East Geelong houses of 3.9%, 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 $3,000 and over five years to be $5,000. The house, on a 651-square-metre block, is close to shops and public transport. It is open for inspection on Saturday, February 4 at 1.45pm and will go to auction on Saturday, February 11 at 11am.
For more information about prices and yields in East Geelong, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
<hr class="system-pagebreak">
518 Smithfield Road, Prairiewood, NSW, 2176
<img src="/images/stories/smithfieldrd.jpg"> 
The tenants of this three-bedroom Prairiewood house are paying $1,600 per month and are on an expired lease. Ray White agent Graham Ball is <a target="_blank" href="https://www.raywhitefairfield.com.au/pol/property/search.asp?f_propertyID=1842105&amp;xsl=4861&amp;f_st=1&amp;f_ct=1&amp;f_ps=2&amp;p1=buying">marketing the outer-Sydney property</a> with price hopes of $450,000 plus, and if it sells for $450,000 that would secure an investor a gross rental yield of 4.3%. This is below the indicative gross rental yield for Prairiewood houses of 5%, 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 $3,000 and over five years to be $6,000. The property is on a large block of 1,248 square metres and is close to schools and transport. The property is open for inspection on Saturday, February 4 at noon and will go to auction on Thursday, February 16 at 6.30pm. 
For more information about yields and prices in Prairiewood, see the RP Data suburb page.
 
 
 
 
 
 
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Friday Form Guide: Yields of up to 5.8% in East Geelong

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Last month – yes it is February already! – the mainstream media ran headlines proclaiming that no jobs were created across Australia during 2011 and the result was the worst in 20 years.  No arguments there.  Our unemployment rate remains at 5.2%, but the participation rate fell as job seekers have given up the search for positions.
In addition, after holding staff levels steady for about 12 months or so, businesses are starting to lay people off.  So, too, is the public service.  But the real reason for the lack of job growth here has little to do with Europe or the global economy, and much to do with current government policies.
The modern award system under the Fair Work Act isn’t working.  In Queensland, regulation of retail trading hours is costing about 10,000 new jobs.  God knows what negative impact the carbon tax will have on job creation.
In addition, politics, rather than economics (yes, the more sceptical will say “what’s new?”), is motivating the federal government to get its budget back to surplus in time for the next election, which, in concert with softer tax revenues, requires public sector staff cutbacks.  There are way too many public servants for mine and I usually love a good PSC (public sector cull), but right now it is just adding to our woes.
And of course, there is the elephant in the room – a lack of leadership.  All parties are a joke.  There isn’t a statesperson amongst our current political set, Campbell Newman being the only exception.  Yes, I am biased, but really where is our Howard, Costello, Hawke or Keating?  It is too much to ask for another Menzies or Kennett?  I have a T-shirt with Howard’s face on it; underneath it says, “Missing me yet?”  Well maybe not exactly, but we definitely miss Howard’s budget surplus.
I remain hopeful that the world sorts out its mess and that we won’t enter a recession.  Investment in mining and energy projects is likely to keep our growth rate in the black.  But unemployment is likely to rise during 2012.  How far is uncertain, but as high a 6% isn’t out of the question.
We could improve our employment situation enormously and create many more jobs if we were to tackle our declining productivity, cut futile and costly regulations, abolish inefficient state taxes and embrace a much smaller government.
Official interest rates will now drop, and several times during 2012, but these might not work as well as they have done in the past.  Firstly, confidence is shot.  We need elections (and someone to believe in and vote for).  Secondly, the banks will dribble out only part of the cash rate cuts – they cannot afford to pass on all of the cuts.  Thirdly, we are saving more, due to economic uncertainty and our ageing demographic, so a drop in the savings bank rate is an income cut for many.  And finally, mortgage holders will use any cut in interest rates to help pay off their debt faster, so they will leave their repayments as they are.
Whilst we bemoan our flat job market, we can thank our lucky stars we don’t live in Europe, where unemployment is approaching 10% in many countries and is at 15% in places like Ireland.
The official labour force statistics make an interesting read.  Well, maybe that is taking it too far.  There are lots of anomalies and it pays to know what you are really looking at.  For example, Queensland’s unemployment rate, as at December last year, was 5.1%, which is down on the 2011 annual average of 5.5%, yet 1,300 jobs were lost during the year.
More enticing (yes, I am now pushing your interest to the limit) are the figures for the Gold Coast.  Unemployment across all of 2011 averaged 6.6% across the Goldie but was 4.6% by year’s end.  There were 7,100 jobs created across the entire Gold Coast last year, with 9,000 being created in the city’s southern flank and 1,900 lost across the northern suburbs.
Like all statistics, country, state or even regional averages don’t apply to every area.  Some places are always doing better than others.  It also pays to know that the ABS employment figures are based on place of residence and not place of remuneration.  The jobs “created” on the southern Gold Coast weren’t necessarily there.  More residents living there had jobs by year’s end.  Many actually work far away from the Gold Coast and commute.  Many now fly in/fly out of Coolangatta airport and work the mines.
Welcome to another new norm.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a title="Matusik's Missive" target="_blank" href="https://matusikmissive.wordpress.com/">Matusik's Missive</a>.
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Unemployment is on the rise - welcome to the new normal

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Crown International Holdings Group enters the Year of the Dragon with ongoing projects that will generate apartments with an end value of more than $2 billion.
<img src="/images/stories/topryde.jpg">
Crown has also announced plans to set up a display pavilion in the heart of Sydney’s Chinatown later this year to better meet the needs of the Chinese community and visitors to Sydney.
Crown International Holdings chief Iwan Sunito says prospective buyers or investors will be invited to relax in very comfortable surrounds while they have the opportunity to converse with one of Crown’s international and multi-lingual sales consultants, who are fluent in a variety of languages including Indonesian, Korean, Mandarin and Cantonese.
<img src="/images/stories/topryde2.jpg">
“The vibrant and dynamic display pavilion will provide locals and international visitors with detailed information about the various Crown projects, as well as being able to experience a display apartment,” Sunito says.
“Crown understands it’s important to provide all of our clients with detailed information for each of our developments and we believe it’s important to provide this service in a person’s first language wherever possible.”
Crown Group’s signature Asian-inspired designs, which create private sanctuaries for residents to call home, continue to attract buyers from all around the world.
<img src="/images/stories/topryde3.jpg">
“Our properties are designed to incorporate principles of feng shui and the architectural features display a fusion of Asian influences.
“At Top Ryde City Living for example, residents can get some quiet time at the meditation platform, sit and read a book in the beautifully landscaped gardens, swim a few laps of the pool or head to the gym for some exercise or yoga”, says Sunito.
Crown Group’s $500 million Top Ryde City Living project, one of Sydney’s largest residential property developments, is currently being pre-sold, and Crown has launched marketing initiatives in Jakarta, Indonesia in 2011, with further roll-outs in Shanghai, China and Singapore planned for 2012.
<img src="/images/stories/topryde4.jpg">
Top Ryde City Living has been pre-approved by the Australian Government’s Foreign Investment Review Board to accept non-Australian resident purchasers, so foreign investors are assured there is no approval process required or uncertainty in being allowed to purchase.
Crown offers foreign investors a 5% rental guarantee for one year.
“We have had a great response to the first release of Top Ryde Living City with approximately 90% already sold and only 26 apartments remaining for sale in stages 1 and 2, which range from $500,000 for a one-bedroom plus study with car space to $875,000 for a three-bedroom plus study and two car spaces,” Sunito says.
The next launch will be in March with the release another 135 apartments, says Kym Rogers, head of sales and marketing.
For more on Asian investment in Australian property, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-foreign-investment-in-australian-property-markets">download our free eBook</a>.
 
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Crown Group seeks out Asian buyers for Top Ryde project

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Today’s December 2011 house price index results make for some interesting reading.
As I have flagged here before, the “flash” or preliminary estimates around December and January can be difficult to interpret due to two factors: first, the volume of sales is seasonally much lower than normal, which makes measurement immediately following the month in question trickier; and, second, some cities’ valuer-generals’ offices can be a bit tardy is transferring transaction information over the holiday season, which gives rise to more volatile numbers that are subject to material revision.
While the flash estimate of the seasonally adjusted December month dwelling value index is -0.2%, this is being heavily influenced by two outsized (negative) results for Melbourne and Perth. It just so happens that these cities’ valuer-generals are probably the worst offenders when it comes to the timely transmission of data. What makes the Melbourne and Perth numbers especially suspect is that they come on the back of solid seasonally adjusted gains in November, which have been reconfirmed with RP Data-Rismark’s latest index analysis.
I expect to see future index revisions cast a more positive light on the price action in Melbourne and Perth over December, which could kick the national result back up into positive territory (following on from the encouraging November gain).
As an aside, a flash index estimate a few days ago did precisely that with more benign numbers for Melbourne, Brisbane and Perth generating a seasonally adjusted national gain. At this stage, however, the standard errors are two large to arrive at any definitive conclusions as to where the hard-to-handle December month data will actually end up.
Notwithstanding these wrinkles, the data does tell us some interesting things.
The November result for capital city dwelling values has revised up from +0.1% (s.a.) to +0.4% (s.a.) based on additional sales information. This marks the largest month-on-month improvement in Australian home values since May 2010.
RP Data-Rismark’s “rest-of-state” index, which covers all regional markets, has also revised up in November from +0.3% to +0.5% (s.a.). This is the most significant increase in regional house values since November 2010.
Australia’s biggest city, Sydney, currently has the largest volume of reported sales in December. In seasonally adjusted terms, Sydney dwelling values increased by 0.4% in the month of December. In the December quarter, Sydney dwelling values are up a total of 0.7% (s.a.).
So it would seem that Sydneysiders are leading the recovery.
There is also some good news for property investors. Weekly rents across the capital cities were up 1% over the December quarter and are now 6.3% higher than at the same time last year. These stronger rental rates combined with the recent correction in property values have improved investors’ overall yields. The average capital city apartment is now offering a gross rental return of 5.1% after a consistent trend upwards since mid-2010.
Over the course of last year, Australian capital city dwelling values experienced a total capital loss of about 3 ½%. Regional house values fared a little better, correcting by around 3%. This compares with the 14% to 15% decline in Australian shares. Adding in rents, the gross total return realised by Australian property investors was slightly less than 1% (up) over 2011.
Finally, we know that housing affordability in Australia has experienced a striking improvement. While disposable household incomes grew by nearly 7% over the year to September 2011, Australian dwelling values have declined by a total of 3.3% since May 2010. As a result of the RBA’s generous rate cuts in November and December, borrowers can today get fixed- and variable-rate home loans as low as 5.9% and 6.14%, respectively.  The bottom line is that Australian home loan rates are stimulatory.
Rismark’s research shows that disposable incomes per household have risen about 15% further than (hedonicall -measured) capital city dwelling values since the end of 2003. This helps account for the decline in Rismark’s national dwelling price-to-income ratio, which is as low as its been since 2003.
On the outlook for the year ahead, Rismark’s Ben Skilbeck commented, “We expect that the RBA’s interest rate cuts in the final two months of 2011 will lend further momentum to housing activity as transaction volumes pick up over February and March after the seasonally slow months of December and January. If financial market pricing for substantial additional RBA rate cuts proves accurate, we could see a stronger-than-expected bounce-back in housing conditions.”
RP Data’s Tim Lawless added: “While global uncertainty and a stagnant local labour market could weigh on the consumer’s mindset, we are nevertheless observing improvements in monthly housing finance commitments. RP Data’s leading indicators on average selling times and vendor discounts are also starting to look healthier. There is no doubt that additional interest rate relief in 2012 would afford a very welcome cushion to the housing market.”
Christopher Joye is a leading financial economist and a director of Rismark International and Yellow Brick Road Funds Management. The above article is not investment advice.
 
 
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Sydney housing streaks ahead of national market: Christopher Joye

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A <a href=""></a>58% clearance rate was secured from the 145 offerings at the weekend’s Ray White Gold Coast auctions.
<a href="https://www.propertyobserver.com.au/residential/gold-coast-prestige-sales-marked-by-stubbies-not-champagne-as-market-struggles/2012013053168" target="_blank">Some 55% of the listings were sold</a> in early estimates. It was reportedly a record clearance rate.
The joint chief executive of Ray White Queensland Peter Camphin described the investor market interest as strong.
“There were a significant number of Victorians, for instance, who purchased,” Mr Camphin said.
“It’s clear there was a lot of interest as well as caution on price," he added.
Mr Camphin said a number of units were sold to people who hadn’t seen them.
The listings included a presumed record of 35 mortgagee offerings.
It was the Ray White Surfers Paradise group’s 19th annual event.
Michael Willems sold 21 of his 25 listings.
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Sight unseen purchases assists Ray White's weekend Gold Coast auction 58% clearance rate

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More than half of the more than 4,000 apartments in the pipeline in Brisbane’s development hotspot of Fortitude Valley, Bowen Hills and surrounding northern fringe suburbs are yet to be sold, according to the latest figures from research group Oliver Hume.
During the months of September, October and November 2011, 146 apartments were sold in this precinct, the highest volume of sales in Brisbane.
About 2.3 years of supply remaining at current sales rates.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/fortvalley.gif"><img src="/images/stories/fortvalleythumb.gif"></a>
According to Oliver Hume, the variety of stock on offer contributed to the high level of sales.
The Vecchio Property Group’s The Rivé apartments at Breakfast Creek was the most successful project for the quarter, accounting for more than a third (56) of this total.
Of the 29 projects being marketed in the northern fringes area, 14 have sold more than 50% of their available residential stock while just seven have sold 75% of their stock.
Projects spearheaded by noted property developer David Devine have performed strongly to date.
The Chelsea, a New York-style project being developed by Devine’s Metro Property Group, is 98% sold, with 191 out of the 195 apartments snapped up. The development consists of two towers of 12 levels each with one-bedroom apartments priced at $295,000.
The Hamilton Harbour project on the Brisbane River being developed by Devine Limited and Leighton Properties has sold 98% of the 257 apartments in Harbour One and 85% of the 212 apartments in Harbour Two.
One-, two- and three-bedroom apartments have been priced from $422,000 and rise to $2.25 million.
Laing O’Rourke’s $250 million McLachlan  &amp; Anne (M&amp;A) project under construction at McLachlan, Connor and Ann streets in Fortitude Valley is 72% sold, with 163 out of the of the 234 one- and two-bedroom apartments now sold.
Other apartment projects in Fortitude Valley appear less successful.
At the end of November all 131 apartments in the Alex Perry Residential 11-storey designer block were still available for purchase.
According to a spokesperson for the project, five apartments had been sold in January, and the project is “performing well”.
Another Fortitude Valley project, Belise, was unsold up until the end of November, according to research by Oliver Hume.
Construction of the 199 apartments at the St Paul’s Terrace is due to commence in the second quarter of next year.
In September last year a spokesperson for this development told Property Observer about 50 had been sold off the plan since launching in October 2010.
Photograph by Michael Zimmer
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More than half of Fortitude Valley's new stock yet to find buyers

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As we moved into the new year of 2012, I found myself celebrating another milestone.  Right now, the NSW planning system is undergoing the biggest change in 30 years. One of the councils we work under finally gazetted a new LEP – Local Environmental Plan.  The NSW government is changing the way that LEPs are developed and approved for our communities.  This means many councils are undergoing a change to their LEPs. 
One of the biggest challenges of a property developer is keeping up with council regulations.
If you’re thinking of renovating, extending, building new dwellings, demolishing or subdividing you will need to lodge a development application (or DA) with your local council.  But even before you are ready to put your DA together, you must have a good understanding of the council’s LEP.
Something very important you should ask your council is whether there is a draft LEP in existence. A simple search of its website should tell you what’s in the planning pipeline.
There are no general regulations that apply throughout Australia – so as a developer, you must contact your local council for specific details relating to what you want to do.  DAs allow councils to assess whether your plans are appropriate for the area based on their LEP and development control plan (DCP).
This brings me to share an interesting period we’ve had with several Hunter councils as they went through the process of introducing new LEPs.
A LEP is a legal instrument that imposes standards to control development. These plans determine the areas in which various types of development can be considered and which areas of open space and environmental sensitivity need to be protected.  These plans can have a profound and lasting impact on communities. 
A LEP generally comprises a written document and accompanying maps. LEPs apply to a particular area, generally the whole, or part of, a local government area. 
Most LEPs remain in force until they are amended or repealed by an amending LEP. The process to amend an LEP is massive.  We’ve been waiting for one council to draft and finally implement its LEP for five years!  There were many changes and each time a new edition of the draft LEP went on exhibition, we had to study it.  Finally, the LEP was gazetted. When the draft LEP is gazetted, it takes over from the current LEP as the primary environmental planning instrument. 
In the case of our Hunter council, the new LEP will provide more than 1,000 additional residential lots at eight sites across the local government area. In addition the LEP zones new employment land, which will encourage job creation in close proximity to the existing centre of town, while protecting the environmental values of the area.
The LEP also identifies planning controls for a major new town. For a developer, this is very important information. A whole new town will impact greatly on the economy and the demand and availability of housing, so you can see it’s crucial for you to know of any changes to your council’s planning process.
Importantly we’ve found that as the new LEP comes in there is a big grey area. DAs that were submitted prior to the date that the new LEP was gazetted will continue to be assessed under the old LEP and the old DCP, with due consideration of the new LEP. What the?
This may sound a bit confusing but as a developer it’s your responsibility to get a handle on the requirements of your council. I’d suggest you use a planning consultant with a strong understanding of your council’s requirements if you don’t have the time. Remember, the planning phase is just one of the many phases you’ll journey through as a developer. It’s a time-consuming pursuit but one that can bring many rewards.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
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What a new local environment plan can mean for your development

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The auction clearance rate in Sydney across 2011 was 53%.
It was down from 61% in 2010 and 65% in 2009 but up 47% in 2008, according to Clinton McNabb, research analyst at Australian Property Monitors.
The clearance rate fell gradually across the year from 59% in February to a low of 49% in December.
The highest auction clearance rate was in the week ending February 12 at 63%, and the lowest week was the week ending December 10 at 47%.
There were 25,435 auction listings in 2011, down 5.4% compared with 2010.
The total value sold in 2011 was $11.26 billion, down a considerable 20% compared with 2010.
There were 12,701 properties sold at auction in 2011, some 18% fewer than the year before.
APM advised the median price for houses sold at auction was $845,000, down 2.9% year on year.
The median price for units sold at auction was $580,000, down 0.9% year on year.
Alexandria headed the suburbs with the highest auction clearance rates at 77%, followed by Ashfield 74% and Dulwich Hill.
The suburbs with the weakest auction clearance rate were Avalon 30%, Kellyville 30% and Collaroy 36%.
The inner west, inner Sydney and south west had the best-performing auction markets, while the central coast, outer-western Sydney and northern beaches were the worst performing, McNabb says.
 
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Sydney early bird vendors got the auction buyers in 2011: APM

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The clearance rate for Melbourne auctions in 2011 was 56%.
It compared with 71% in 2010, 81% in 2009 and 63% in 2008, according to the Real Estate Institute of Victoria.
The highest clearance rate in any week was 65% in the week ending March 13 and the lowest was 49% in the week ending November 20, says REIV chief executive Enzo Raimondo.
There were about 28,800 auctions throughout the year. The number exceeded the number held in both 2009 and 2008 but was fewer than 2010, when there were 32,497 residential auctions across Melbourne.
The total value of auction sales was $11.6 billion compared with $16.8 billion in 2010, $12.1 billion in 2009 and $10.2 billion in 2008.
The highest clearance rate was recorded in Wantirna South, where 82% of homes sold. It was followed by Abbotsford, Balaclava, Gladstone Park and Warrandyte as the top five suburbs when ranked by clearance rate.
However Richmond had the most auction activity, with 336 sales at auction and a strong clearance rate of 73%. It was followed by Melbourne, Bentleigh East, Hawthorn and Reservoir as the top five busiest suburbs when ranked by numbers sold.
Four of the properties that went up for auction in Richmond in 2011 <a target="_blank" href="https://www.propertyobserver.com.au/victoria/the-block-auction-a-dose-of-reality-which-sydney-finally-loved/2011082251240">were the cottages featured on the reality TV show The Block</a>. 
 
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