<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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Regional towns linked to the mining industry are expected to again be among the top-performing property markets in Australia in 2012, according to hotspotting.com.au director Terry Ryder.
Ryder has picked five mining towns (Port Hedland, Newcastle, Bowen, Whyalla and Darwin) among the best prospects for 2012 even though he warned investors to avoid mining towns in general on a list of No-Go Zones he compiled in August last year.
The 2011 no-go list included the mining towns of Kalgoorlie and Mount Isa.
“Mining towns have great allure for property investors because they often provide high rental returns and rapid capital growth,” Ryder <a target="_blank" href="https://www.propertyobserver.com.au/queensland/mining-towns-not-rivers-of-gold-terry-ryder/2011081051115">said at the time.</a>
“But mining towns are among the most perilous locations for investors. They sit at the extreme far end of the risk spectrum. Mining towns have volatile markets that depend on buoyancy in the resources sector,” he said in August 2011.
“Often the prices and rents in mining towns are sustainable only while a resources boom lasts.”
This time around he again warns that despite the “often spellbinding” appeal of resources boom-related towns for property investors, “there are risks to be heeded – most notably in locations that are dependent solely on the fortunes of a single project”.
In his current list Ryder also warns that the increasing trend of FIFO (fly-in, fly-out) workers poses growing potential risks for those investing in real estate in mining towns.
Despite this, he says the performance and future prospects of property investment in mining towns cannot be ignored.
Ryder has highlighted <a href="https://www.propertyobserver.com.au/hotspots/hotspot-newcastle-tipped-for-strong-growh/2011062950648" target="_blank">Newcastle, heart of the NSW coal-mining industry</a>, as Australia’s “most under-rated market” and Port Hedland in the <a href="https://www.propertyobserver.com.au/residential/pilbara-mining-rents-the-seven-most-expensive-wa-boom-towns/2011113052624" target="_blank">iron-ore rich Pilbara region</a> of northern Western Australia as Australia’s “most remarkable property market” in the January 2012 edition of The Ryder Report.
“While it has a lingering image of smoke stacks and hard times, in reality Newcastle is a prosperous city with a pumping economy and a great lifestyle, which presents as a viable affordable alternative to Sydney. Most Newcastle suburbs recorded price growth in 2011 and some delivered double-digit growth,” Ryder says.
The <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> director describes Port Hedland as having “the most extraordinary property market, with house prices rising an average 22% per year for the past 10 years and the median price now $1.04 million”.
“Just when you think they can’t go any higher, they do. The median price rose 11% in 2011. Despite these ridiculously high prices, you can still get 10% yields because typical rents are above $1,800 per week. There is no other market like this in Australia,” he says.
In Queensland, Ryder names <a href="https://www.propertyobserver.com.au/queensland/gladstone-queensland-s-top-performer-reiq/2011082451272" target="_blank">perennial hotspot favourite Gladstone</a> – location of some of Australia’s biggest long-term resource projects, including a $41 billion coal mining project scheduled to run from 2011 to 2020 – as the star performer of 2011 and Bowen, 1,100 kilometres north of Brisbane, as the state’s rising star of 2012 because of its “important role in the Queensland coal industry”.
“[Bowen’s] prospects were enhanced late in 2011 when the state government announced a super-sizing of Abbot Point. With six new coal terminals to be built, it will be one of the biggest export facilities in the world,” Ryder says.
In NSW, the <a href="https://www.propertyobserver.com.au/residential/mining-boom-drives-up-nsw-hunter-valley-rents/2011113052623" target="_blank">mining-rich Hunter Valley</a> is Ryder’s pick as the state’s top performer of 2011 while he believes Whyalla in South Australia will be the state’s star performer in 2012, labelling it the “Gladstone of South Australia”.
“It’s the largest regional centre in the state, it’s affordable and it will play a key role in the $30 billion expansion of Olympic Dam. A new export port is being planned there, as well as a $1 billion rare earths processing plant,” he says.
Both Ryder’s top picks in the Northern Territory have mining links, with the small regional town of Tennant Creek chosen because of its “cattle properties, tourist attractions and mining sites”. He also nominates the capital Darwin as the best territory prospect for 2012 on the back of the $30 billion Inpex onshore gas project almost certain to proceed after gaining both territory and federal approval. Ryder also says the decision to station 2,500 US military personnel in Darwin will boost market confidence. 
Regional towns not tied to the resources boom and suburban markets also make the January list including the unfashionable outer western Sydney suburb of Blacktown (his top NSW pick for 2012).
“Blacktown will continue its steady emergence as an underrated star of the Sydney market. First-home buyers are starting to return in numbers to the Blacktown LGA, which includes Seven Hills and Quakers Hill. It is also a population growth leader, has good transport links and is close to major jobs nodes,” says Ryder.
He also picks the Melbourne suburb of Melton as the rising star of the Victorian market of 2012, with the regional town of Ballarat the state’s star performer of 2011.
“A strong regional centre within commuting distance of Melbourne, Ballarat had a strong year while much of Melbourne was struggling. A number of Ballarat suburbs recorded double-digit growth in median house prices. The city’s prospects are set to get stronger, with the Regional Rail Link, multiple wind farms and a new cancer centre coming up,” he says.
He describes Melton as the most affordable region of the city housing market with good transport connections to central Melbourne and which will be boosted by urban renewal developments.
The southern Perth region of Murdoch is picked as the star performer of 2012 due to being a “cluster of middle-priced suburbs around a major university-hospital precinct”, site for the $2 billion Fiona Stanley Hospital currently under construction as well as the recently released eight-hectare mixed-use “Murdoch Mix” precinct which will include 220,000 square metres of commercial offices, allied health services, retail, residential and short-stay accommodation planned until 2031.
The full list is:
 
QUEENSLAND:
Star performer of 2011 – Gladstone
Rising star in 2012 – Bowen
 
NEW SOUTH WALES:
Star performer of 2011- The Hunter Valley
Rising star in 2012 – Blacktown
 
VICTORIA:
Star performer of 2011 – Ballarat
Rising star in 2012 – Melton
 
WESTERN AUSTRALIA
Star performer of 2011 – Port Hedland
Rising star in 2012 – Murdoch precinct
 
SOUTH AUSTRALIA:
Star performer of 2011 – Ceduna
Rising star in 2012 – Whyalla
 
NORTHERN TERRITORY:
Star performer of 2011 – Tennant Creek
Rising star in 2012 – Darwin
 
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lschlesinger-FZcF9M3vE6

Mining towns could be 2012 property hotspots: Terry Ryder

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In spite of the battering that the residential market has taken of late, many Australians still aspire to own investment property. 
When considering whether to buy new versus older property, price is only ever part of the equation. 
And buying a new dwelling has numerous benefits over buying a second-hand property. 
One important benefit that new homes offer investors is great capital depreciation, with up to 60% of the built cost being tax-deductible over time. 
When considering a brand-new investment property, and in particular, when deciding to build or purchase off the plan, it is wise to obtain advice from a depreciation specialist as early in the planning stages as possible. 
That way, an investor will be aware of the best choices to make in order to maximise depreciation benefits. 
For example, when a property is being built, the selection of fittings and fixtures will determine their dollar value in terms of depreciation deductions. 
And this, in turn, will make a difference to the cash flow potential of a new investment property. 
Let’s look at floor coverings by way of an example – carpet versus timber floorboards versus tiles.   For depreciation purposes, each of these is deemed to have an effective life.  Carpet – 10 years; timber floorboards – 15 years; and tiles – 40 years. 
A $2,000 outlay on floor coverings, for example, would result in the following depreciation benefits in the first year:  Carpet – $400; timber floorboards – $267; and tiles – $50. 
Similarly, for a $2,000 expenditure on lighting, ornamental lights with a five-year effective life would incur an $800 depreciation benefit in the first year, versus down lights with a 40-year effective life and a $50 depreciation benefit in the first year. 
And naturally, depreciation benefits continue in subsequent years until all amounts are exhausted. 
Armed with this sort of knowledge, an investor might find it financially viable to upgrade a level of finish from, say, low to medium or medium to high. 
But it takes an expert in the field to keep up with the machinations and new methodologies of the ATO, and to structure depreciation schedules that will maximise benefits for owners. 
These days, for example, renovating is on the rise.  And what some new or would-be investors may not know is that they can claim deductions for an old property that is scrapped. 
When building a new investment property and tearing down an old home, items that are scrapped or removed, such as carpet, air-conditioning units, stoves, etc, may have left over value that can be claimed as a tax deduction in the year of removal. 
The same applies to the qualifying structural element of the property.  But the important thing is to obtain a tax depreciation report pre-demolition, in order to be eligible for any savings at tax time. 
Depreciation is basically a numbers game, but with a twist.  Broadly speaking, most of a building is claimed at 2.5% per year for 40 years, however, up to 25% of the total construction cost can be written off more quickly. 
Good luck with that investment.
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 href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
For more advice on investing off the plan, <a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-investing-off-the-plan" target="_blank">download our free eBook.</a>
 
 
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michaelmatusik-49YzLvdmNv

New property has significant advantages for investors

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When the Reserve Bank of Australia lowered the official cash rate by 25 basis points on December 6 it was very interesting to watch how the major banks tried to handle the RBA’s decision on Twitter – which I believe was poorly handled. Here are their tweets.
December 6
@ANZ _AU: “Hi there, our rates are under review – we will keep you posted. Thanks ^LG.” This was posted a further seven times.
@nab: “rates are under review.” This was posted a further eight times.
@CommBank: “Our rates are under review and we’re carefully considering the impact of the RBA’s announcement on all our products.” This was posted a further 11 times.
@Westpac: No tweets
December 7
@ANZ –AU: “Hi there, rates are still being reviewed. We’ll let you know once a decision has been made.” This was posted a further seven times.
@nab: one update
@CommBank: 18 more updates
@Westpac: “Our rates remain under review, we know this has big implications for your home loan &amp; savings, we’ll let you know as soon as we do.” One update
December 8
seven more updates then @anz_media: “ANZ cuts rates for mortgages and small business lending by 0.25%”
@nab: seven more updates then “We’ve just confirmed a 0.25% cut to the variable mortgage rate and business loan rates.
@CommBank: two more updates then “We are lowering our Standard Variable Home Interest Rates by 0.25% to 7.31% effective for new and existing customers from 19 Dec 2011.
@Westpac: “We’re happy to pass on the full RBA interest rate cut for home and business lending by 0.25%
The Treasurer Wayne Swan @SwannyDPM was busy tweeting to his followers.
“A great early Christmas present for ANZ customers today. Heat is now really on NAB, Westpac &amp; CBA to do the right thing by their customers.” Then “NAB also doing the right thing by their customers with full 25 point rate cut. Heat just gone up another notch on Westpac and CBA.” Followed by “Good news for CBA home loan customers this evening too. Westpac customers deserve their bank to do the right thing as well.” Finally, “CBA has done the right thing for its home loan customers, that just leaves Westpac out there facing a massive backlash from its customers. “
ANZ then announced that it will now review its rates on the second Friday of every month, which prompted me to write on my final blog for 2012. “ANZ shifts to monthly rates review where it is now set to sever the long-standing link between official interest rates set by the RBA and the rates customers pay on their mortgages. This decision questions the relevance of the RBA, if banks are to decide independently, what their cash rate will be. This has the potential to become ugly, and I see ‘bank bashing’ alive and well in 2012. On the one hand we will have bank advertising campaigns of those warm and fuzzy happy family moments and on the other, journalists and social media beating the living daylights out of their reputations. The latter will win hands down.”
<a target="_blank" href="https://www.propertyobserver.com.au/trends/real-estate-businesses-must-make-the-most-of-the-web-or-be-left-behind/2011102352031">Social media is now a huge voice</a> where one only has to look at the #VileKyle trending on Twitter last month where over 30,000 signed an online petition demanding he be dumped following his ugly spray at a journalist. Online polls went into meltdown. The result? Mazda, Telstra, Harvey Norman, Fantastic Furniture, Blackmores, Crazy John’s, Vodafone and Good Guys withdrew their sponsorship.
This was the very first social media online protest march Australia has ever seen before where it worked wonders and yes – I did sign the petition, too. Absolutely no doubt the major banks took notice too.
Twitter Statistics 2011 reveal 1 billion tweets posted per week, three years, two months and one day the time in between the first tweet and the billionth tweet, 177 million tweets sent on March 11, 2011, 456 tweets per second (TPS) when Michael Jackson died on June 25, 2009 (a record at the time) and 6,939 current TPS record, set four seconds after midnight in Japan on New Year’s Day.
Our big four banks are not performing well on Twitter – @CBA has 2,284 followers with 234 tweets, @Westpac 8,658 followers with 2,944 tweets, @ANZ 1,746 followers with 1,000 tweets and @nab 8,279 followers with 4,444 tweets.
So I was interested to see this week when I received a direct message from ANZ_AU – “Hi, this is automated but we’re here to help 9 – 5.30 pm Mon – Fri (AEST) in accordance with our Twitter service terms.”
Now that is a first so watch the other three follow suit as they battle to attract followers given their ability to attract followers thus far can only be described as very ordinary.
In Twitter speak they may well be trending to be different – time and tweets will tell. Once upon a time we heard “the dogs are barking” today, it’s the customers are tweeting and reputations are on the line – just ask Kyle Sandilands.
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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robertsimeon-hRNTwJyXkQ

Banks will have to hone their social skills in 2012

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Just in time for Christmas we’ve received the results of the National Housing Supply Council’s State of Supply Report 2011. 
The <a target="_blank" href="https://www.nhsc.org.au/supply">council’s report</a> provides independent and consistent data on housing supply, underlying demand and the supply-demand gap, as well as affordability. The report has become a trusted resource for both government and industry. 
With <a target="_blank" href="https://www.propertyobserver.com.au/residential/michael-matusik-dismisses-housing-undersupply-findings-as-spin/2011122152932">so much debate going on with whether there actually is an undersupply of housing</a> or not, this report gives some real weight to the argument. In fact, it’s pretty clear. 
The council projects that there will be a shortfall of more than 600,000 dwellings nationally in the next 20 years. 
Wow. That’s a lot of housing that will be required despite “weaker market conditions” that are being touted right now.  But I’m not really seeing “weaker” conditions. In the areas Property Bloom develops things have started to move.
Just this week we found a fabulous development site.  It is a solid three-bedroom house on 1,012 square metres with two street frontages (there’s the twist).  This potential development site had plenty of interest, so much so that we had to race to exchange in order to secure it and take it off the market before Christmas.  The agent received more than 30 enquiries in under a week.  On this site we’ll build a three-bedroom duplex – two attached three-bedroom villas – for our clients.  So we’ll create three properties from one. 
This is where I make the familiar reference to the two-speed economy.  You will find that in any large region where there is lots of employment opportunities – as we see in the Hunter region of NSW – there will be strong demand for housing. 
But it’s not just any housing that’s required. We need to tailor to the needs of the community.  The State of Supply Report uncovers that the numbers of households comprising couples without children and lone-person households are projected to grow much more rapidly in all regions than are the number of households that are families with children.  With an aging population this all points to a need for smaller dwellings. The projections suggest that most regions can expect a greater relative increase in demand for flats than for separate houses. 
Here’s an important point:  “Demand for private rental dwellings may well increase more sharply than is projected, due to social housing stock not increasing in proportion to increased underlying demand.”  What is that telling you, investors?  Rents will continue to increase, combine this with interest rates dropping, buy in the right area and you should end up with a very strong yield. 
With affordable housing in great demand, Property Bloom addresses this by developing properties, renovating houses and then building a granny flat. This strategy can be turned over very quickly and we basically double the housing capacity for that property and create a 9% gross yield for our clients.
By building villa developments in large regional towns like Muswellbrook, Cessnock and Maitland we are also providing good-quality, affordable dwellings. These are quickly snapped up in the rental market.
So if you are looking for to give yourself a Christmas present, consider developing property, or at least purchasing one, in areas where there is an under supply and strong demand. You’ll not only be doing yourself a favour, but also the communities you are investing in and assisting with the shortfall of housing.  Merry Christmas!
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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All I want for Christmas is some new housing

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Singapore-based developer Frasers’ enormous Central Park residential development on Sydney’s Broadway has helped drive the number of apartment projects being built by offshore developers in Australia to a 20-year high, according to research by CBRE.
Dominated by Asian firms, offshore developers now have almost a third of the new apartment market, with more than 13,000 apartments either planned or in the marketing/construction phase in 37 separate projects across the country.
Based on average apartment completions in Australia in 2011 this represents a market share as high as 32%.
According to CBRE, developers from Singapore are proposing or building more apartments in Australia than developers from any other foreign country at present, and by a big margin.
<img src="/images/stories/offshoreinvest.gif">
Singaporean developers are responsible for almost 5,000 apartments presently planned or underway, with 58% by Frasers Property, and 65% of these in the Central Park project in Sydney.
To date, more than 500 apartments have been sold off-the-plan for the first residential stage, One Central Park, which is due for completion by mid-2013 with prices ranging from $460,000 to $1.25 million.
In October, Frasers and Japanese joint venture partner Sekisui House secured $550 million in funding for the 5.8-hectare mixed-use Central Park development.
The next most significant source of development capital is Hong Kong, with a single developer (Far East Consortium) behind 2,700 apartments in two Melbourne projects.
Malaysia (12%), China (9%), Korea (9%) and India (6%) make up the balance of what is a broad spread of Asian sources presently facilitating apartment projects in Australia.
According to CBRE executive director of global research and consulting Kevin Stanley,  foreign developers had not been this active in Australia since the building boom of the late 1980s/early 1990s, when mostly Japanese companies were active in developing offices, shopping centres and hotels.
The level of offshore investment in residential apartments mirrors the dramatic increase in the participation of <a target="_blank" href="https://www.propertyobserver.com.au/commercial/offshore-investment-in-australian-commercial-property-at-20-year-high/2011122052916">overseas investors in Australian commercial property</a>, which has also reached a two-decade high.
Like commercial property, overseas developers view Australia as a safe and steady market to diversify their activities and grow their businesses and one where there is steady occupier and investor demand for apartments.
Sydney and Melbourne account for four out of five apartments projects (79%) with the Gold Coast (10% of total), Brisbane (6%), Perth (3%) and Adelaide (2%) also popular destinations for offshore developers.
<img src="/images/stories/offshoreinvest2.gif">
“In a surprising result, Melbourne has a greater number of apartments proposed by foreign developers than Sydney, despite being a city with 450,000 fewer people,” says Stanley.
Earlier this week, <a href="https://www.propertyobserver.com.au/developments/chinese-developer-snaps-up-south-yarra-site-for-%2418-million/2011122052909">Chinese developer acquired a South Yarra residential development site for $18 million.</a>
Stanley says reasons for Melbourne’s appeal include its long-term connection to Asian countries through education and tourism; the greater availability and lower relative price of sites; and the city’s national reputation for the ease of conducting property business.
Melbourne is experiencing the highest concentration of CBD projects of any of the major cities while Sydney has a much more balanced distribution of apartments between the CBD, city fringe and suburban submarkets.
“This is a function of the tightness of site availability and the expense of land in the CBD, along with a growing acceptance of high-density living in suburban nodes, especially near railway stations,” says Stanley.
“In Brisbane, the city fringe has been much more popular with foreign apartment developers than the CBD, although there is a much smaller relative penetration by foreign developers generally into the Brisbane market to date, with a greater focus on nearby Gold Coast instead.”
Stanley says the impacts of foreign involvement in the apartment market were many and were mostly positive.
“Critically, it’s providing a stimulus to the construction sector at a time when development activity is generally at a low level,” Stanley says.
“Second, it’s providing new ideas, standards and designs to broaden the product range in Australia and introduce fresh competition in these areas. Coupled with development by local companies, it’s also leading to the urban renewal of precincts of Australian cities that have previously been underdeveloped and activating these areas with a new range of quality facilities, often in a mixed-use environment. The northern fringe of the Melbourne CBD and the southern area of the Sydney CBD stand out in this regard.”
 
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Frasers’ Central Park boosts offshore apartment projects to 20-year high: CBRE

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{yoogallery src=[images/stories/december22stamford]}
Prestige buyers have snapped up apartments in The Rocks’ latest luxury development, with only four of 122 apartments – plus the two penthouses – remaining in The Stamford Residences, which is now complete.
The development, by Stamford Property Services, includes high-end extras like a 24-hour concierge, 18-metre indoor pool and gymnasium.
The larger of the two three-storey penthouses  has four bedrooms (the master bedroom alone is 90 square metres), two terraces and 468 square metres of internal space, including a kitchenette, butler’s pantry and bar in the master suite. It is accessed by its own private lift and has its own internal lift in addition to the sweeping nine-metre-high staircase.  It comes with a $16.1 million price tag.
The smaller penthouse has 412 square metres of internal space and also includes two terraces. It has $13.4 million price expectations.
“The two penthouses offer an abundance of space rarely found in the CBD,” said Ron Keir of architects Kann Finch. “With an exclusive entry on level 28, they provide a sense of privacy and separation from the surrounding environment, while full-size windows allow occupants to reconnect with the surroundings.”
“The quality of the finishes is, of course, exemplary, and the ambience is assured through its classic understated style. Every appointment has been carefully considered to help make the penthouses bespoke homes,” Keir says.
Colliers is marketing the penthouses, along with the four remaining apartments.
The Stamford Residences and its attached townhouse complex, <a href="https://www.propertyobserver.com.au/new-south-wales/five-grand-terraces-built-within-heritage-reynell-development/2011061050463">The Reynell Terraces</a>, represent<a href="https://www.propertyobserver.com.au/developments/inner-sydney-running-out-of-space-for-off-the-plan-developments/2011110352209"> the last developments to be built in Sydney’s northern precinct</a> (stretching south from the Harbour foreshore to Market Street and east to Macquarie Street) until 2015.
“People appreciate that this is the last high-rise building in Sydney’s most sought-after precinct,” says Colin Griffin, director of residential project marketing for Colliers International. “It is a finite resource that will appreciate in value at the highest rate.”
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Only a handful of apartments remain in The Rocks' prestige Stamford Residences

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As new home sales decline to levels last seen in December 2000 (according to the Housing Industry Association) and residential construction remains in the doldrums, Australia’s biggest property developers are pointing the finger of blame at councils for halting the approval of new developments.
In the last few months developers’ displeasure in dealing with councils appears to be growing faster than weeds in an abandoned development site.
It’s not surprising the issue is such a hot topic (ranking alongside concerns about housing affordability and interest rates) since council planning committees are a major barrier to developers transforming their master-planned communities and apartments from architect plans into bricks-and-mortar reality.
At its November investor road show in Queensland at the end of November, Stockland residential CEO Mark Hunter highlighted overcoming “high [development] approval hurdles” as one of the key challenges facing the company.
According to Hunter, the hurdles are increasing, as are the “horror stories” about local council nimbyism (not in my backyard)” campaigns.
“In Sydney, councils are dictating the type of product they want. They are saying they want three-bedroom units. The fact market cannot afford them does not seem matter,” Hunter says.
Hunter’s complaints are echoed by Stockland CEO Matthew Quinn, who recently described the process of dealing with small councils in Sydney as something akin to a “nightmare”.
Two weeks later at a property lunch in Sydney, Meriton boss Harry Triguboff was beating a similar drum when talking about getting his new projects off the ground.
Asked what had changed most about the market in his many years in the business, Triguboff quipped: “The fact that it takes so long to get approval from council.”
According to these same developers, the solution to the problem lies in amalgamating councils into regional “super councils” as occurred with the formation of the Sunshine Coast Regional Council in 2008 and the much older Brisbane City Council, which dates back to 1925 and is Australia’s largest metro council.
In October, following a legal challenge, Stockland won approval from the Sunshine Coast Regional Council for its enormous Caloundra South community project, which will be home to 50,000 residents over the next 20 years. 
Quinn noted that Stockland had “improved relations with super councils such as on the Sunshine Coast”.
Speaking alongside Triguboff at the same Sydney lunch, Dexus boss Victor Hoog Antink remarked that he had been “fortunate to grow up in Brisbane, which has the largest metro council in the country”.
“It’s a very efficient way to go,” Antlink said, backing “super councils” as the best opportunity to administer for economies of scale and to deliver “better professionalism”.
Calls for super councils have the support of lobbying groups such as the Urban Development Taskforce, which has lamented the inability of Australia to build enough new houses to meet the needs of the population.
In September, then CEO of the Urban Development Taskforce Aaron Gadiel blamed local councils and the state government for Sydney’s failure to build enough houses to meet the needs of the community.
“Sydney is simply not producing enough new homes to accommodate even this low level of population growth. “In fact, no capital city produces less new homes per capita than Sydney,” he said at the time. 
“The NSW government and local councils need to tackle the systematic problems in our planning system which is preventing our housing supply from meeting the community’s clear need.”
Gadiel’s replacement Chris Johnson says “larger planning units servicing various councils could ensure sufficient skill levels”.
Of course councils, planning authorities and residents may not quite see the value in having decisions about the look and feel of their communities made by a larger body, which may not have same degree of empathy or understanding of local issues or concerns. 
And of course many may agree with this assessment made by the Planning Institute of Australia NSW in its submission to the state’s planning system review, where it called the system both “complex and dysfunctional”, but also one that rewards proponents "with the deepest pockets as opposed to those that propose change of the greatest merit".
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Held up by red tape, developers want to deal with 'super councils'

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A Chinese developer has acquired a South Yarra residential development site for $18 million.
The 2,393-square-metre site at 3-9 Claremont Street, which has an approval for 236 apartments plus office and retail accommodation, was bought by a “well-known developer linked closely to a city near Shanghai in China”.
It is situated close to South Yarra Train Station, the Chapel Street retail ship and the Woolworth's Shopping Centre.
The sale price translates to a rate of $7,521 per square metre of land and $76,271 per unit site based on the approved permit.
The deal was negotiated by Mark Wizel and Justin Clarkson from CBRE.
“This represents the strongest price paid for a development site in South Yarra or Prahran of this scale over the past two years,” says Wizel.
“We received several expressions of interest and short listed three parties all of whom were associated with interests from mainland China. This is further evidence of the underlying confidence that Chinese groups have in the Melbourne residential development sector as well as the underlying interest they have in divesting funds to Australia.” 
Wizel says the 10% decline in the value of the Australian dollar since August 2011 has helped drive Chinese developer interest in the Australian market. 
“In the case of Claremont Street, the added attractions were the approved planning permit and the strong end market for apartments in South Yarra,” he says. 
The property is the latest in a series of major inner-Melbourne residential sites to be acquired by Chinese developers over the past two years.
A year ago, the Deague family's Asian Pacific Building Corporation sold its 3,037-square-metre site at 10 Daly Street, South Yarra to the Lyz Property Group based in China's Jiangxi province for $28.5 million, equating to about $9,300 per square metre. The site, which included the neighbouring historic Arlie Mansion, the former home of prime minister Stanley Bruce, has approval for up to 426 apartments.
In September 2010, the China Ever Bright Group bought the 1.5-hectare Stonington Mansion development site in Malvern for just under $30 million – a $17 million discount to the previous price paid by property fund manager Ashington in June 2008. The site has approval for 31 apartments, 14 luxury houses, 22 townhouses and 12 "townhomes". 
“We estimate that mainland Chinese groups have spent in excess of $170 million on acquiring major inner city sites over the past two years with an additional $130 million in sites being sold to development companies with direct interests in Singapore and Malaysia,” he says.
Wizel says in CBRE’s experience developers from mainland China are generally more comfortable acquiring suburban - rather than CBD - sites in locations such as South Yarra, Prahran, Brighton, Balwyn and Doncaster while Malaysian and Singaporean developers tended to focus on more ‘core’ locations such as the Melbourne CBD and St Kilda Road.
The sale of the Daly Street site and Stonington Mansion site was part of an 18-month injection of Asian development capital into the Melbourne market following the Foreign Investment Review Board lifting its restriction in 2009 to allow 100% of a project to be sold to offshore buyers provided the development has more than 100 apartments.
 
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Chinese developer snaps up South Yarra site for $18 million

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{yoogallery src=[images/stories/december13local]}
Australand has sold 33 of 116 apartments to be built in the inner-Melbourne suburb of Carlton.
The Local project, which launched in early November, will comprise two low-rise buildings, one designed by Fender Katsalidis architects and the other by Arm Architecture. Australand has sold 20 in the Fender Katsalidis building, and the remaining 13 in the Arm building. All were to owner-occupiers.
One-bedroom apartments will range in size from 44 to 54 square metres and cost between $350,000 and $450,000.
The majority of the development will comprise two-bedroom apartments ranging in size from 64 square metres to 74 square metres. Prices range from $500,000 to $670,000.
There will be six three-bedroom apartments of between 91 and 96 square metres. Prices start from $780,000 for these units.
Sarah Bloom, development director, built form, of Australand, says the inner-city location appeals to buyers.
“Located only 1.6 kilometres from the CBD, Local is at the very heart of what makes cosmopolitan Carlton the perfect inner-city lifestyle location,” Bloom says.
“Bounded by Palmerston, Canning and Elgin streets, residents will enjoy gracious tree-lined avenues, while stylish restaurants and cafés, great shopping, cinemas, and some of the city’s oldest parks and gardens are all conveniently located.”
Both buildings will have six green star sustainability ratings, with features such as water-efficient fixtures, solar-boosted hot water, rainwater harvesting and future-proofing for greywater supply.
The Fender Katsalidis building includes a communal rooftop with barbecue area and pizza oven.
For advice on buying property off the plan,<a href="http://propertyobserver.com.au/ebooks/free-ebook-10-tips-for-investing-off-the-plan" target="_blank"> download our free eBook.</a>
 
 
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Seven weeks in, Australand's Local Carlton development selling briskly

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The year has ended on a low note for the property sector, but some experts believe a pick-up could begin from early next year, bolstering prices.
Auction results from this past weekend showed clearance rates in Melbourne and Sydney in the 50s – as they have been for the last few months.
SQM Research managing director Louis Christopher says the year's results were "pretty much in line with expectations".
"We thought at the start of the year we would see a 5-10% decline in the capital cities, and although numbers are still coming in that's what has appeared to have happened."
"We have Sydney, which has down a little bit better than that, but certainly you would put other cities into that category including Perth, Brisbane and Melbourne. Those capital cities have fallen into that category."
Christopher says the downturn in the property sector has been around for 18 months, and warns it may take awhile before any recovery takes hold. However, he points to encouraging ABS data showing housing starts and finance has been improving over the past four months.
"We think there will be a decline in the March quarter next year as well, but that is where it's going to bottom out."
Everything depends on Europe, he says. "If all goes well, we should see a recovery in the June quarter of next year. We'll see some indicators before then of how the economy is going, and hopefully that will continue."
This past weekend is emblematic of the year's results in clearance rates. In Melbourne, the Real Estate Institute of Victoria said only 254 properties sold out of 482 on the market, with a clearance rate of 53%.
This time last year, the clearance rate was 62%.
"This weekend is the final one this year with a substantial number of auctions – there are only another 40 auctions scheduled to occur before the end of the year," chief executive Enzo Raimondo said in a statement.
In Sydney, the city recorded a 50.1% rate, while Adelaide and Brisbane recorded rates of 26% and 28% respectively.
Christopher says these results may continue for awhile, but assuming the European situation doesn't deteriorate, will improve over next year.
"We'll see clearance rates go up to the 50s in February, and generally they will pick up from there."
"It should be noted over the next few months we'll be getting a few mixed signals from the housing market, but over next year the situation should improve."
This article originally appeared on<a href="https://www.smartcompany.com.au/" target="_blank"> SmartCompany.</a>
 
 
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