<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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Consumers appear far more willing at present to buy a new house than a new car following the Reserve Bank cutting interest rates on November 2, according to the latest Westpac Red Book. 
Westpac’s “time to buy a dwelling” sub-index rose 6.5% to 125.8 to be in “strongly positive territory” and above the long-run average of 122.3 and the 10-year average of 110.4. 
In comparison “time to buy a vehicle” fell 3% in November to be unchanged since August and slightly below its long-term average.
<img src="/images/stories/redbooknov171.gif">
Source: Westpac
According to Red Book editor and Westpac senior economist Matthew Hassan, the strong rise in the time to buy a dwelling index “could be the cue for a housing upturn”.
“However, as with the headline sentiment results, there are some important caveats,” he says.
“Firstly, the rally needs to be sustained. As with headline sentiment, that will depend at least partly on how follow-on moves from the RBA stack up against consumers’ expectations.
“The last three rate cut cycles saw total cuts of 425 basis points, 200 basis points and 250 basis points. Westpac expects the current cycle to see a total of 100 basis points with a steady tempo rather than rapid easing.
“Secondly, job loss fears will need to ease further. A simple model of finance approvals based on the ‘time to buy a dwelling’ index and unemployment expectations suggests the current mix will see soft demand well into 2012.
“We suspect more rate cuts and improvements in both buyer perceptions and/or job security will be required to establish a housing upturn. Even then debt/risk aversion may mute the response”
According to the Red Book, the drop in the ‘time to buy a vehicle’ index, while not too dramatic (the index points to a 2% decline in sales over the next 6mths), is curious “given the backdrop of rate cuts, attractive financing offers from many carmakers and continued falls in vehicle prices (–2.8% in the year to June)”. 
An aversion to new car purchases was particularly strong in Victoria where consumers registered a sharp 11% drop. 
“The state series are very volatile but it seems notable that Victoria consumers have seen less of an improvement in unemployment expectations in recent months compared to their peers,” says Hassan.
Overall, the November Red Book finds that the change in interest rates has delivered “some genuine positives” with a sharp turnaround in consumers’ unemployment expectations noteworthy. 
Lingering anxiety about jobs remains “but there is no longer the sort of escalating fear that in the past has marked the start of significant cut -backs in discretionary spending”. “As such, one of the key downside risks to the near term outlook for consumer demand has improved considerably,” says Hassan.
“The latest retail data has also held up better than expected. We remain very sceptical about the solid growth in total spending shown in the second quarter national accounts, but a milder consumer slowdown than previously envisaged now looks likely.”
<img src="/images/stories/redbooknov17.gif">
Source: Roy Morgan Research
In the shorter term an estimated 625,000 Australians intend to buy a new car in the next 12 months (excluding fleet, government and rental nuyers). Although this is down marginally on the August 2011 figure of 640,000, it remains 14,000 above the short-term average2 of 611,000.
Norman Morris, industry communications director of Roy Morgan Research, says: “Since hitting a record high of more than 2.2 million in March this year, long-term new car buying intentions have declined for the past five months. It’s not surprising to see that consumer confidence has also declined over this same period and therefore great news for the Automotive Industry to see both metrics back up again in September. 
“Of the mainstream brands, Honda has improved the most over the short term, with the Accord Euro driving much of the brands recent gains. 
“Amongst the luxury brands, both Mercedes-Benz and BMW have improved over the recent term, with BMW posting their highest result for 2011. Conversely, after hitting their best result in August this year Audi has declined to 1.5% of total intentions. 
“With many of the luxury marquees having new models destined for our showrooms over the next 12 months (including the Audi Q3 and BMW’s all new 3-Series) it will be very interesting to see if any of the luxury brands can take market dominance away from BMW over the coming 12 to 18 months. 
“The complete Roy Morgan Automotive Leading Indicators Report delivers detailed coverage of the health of the Australian automotive market.”
 
 
 
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lschlesinger-FZcF9M3vE6

Consumers intend to buy a house but holding off on a car: Westpac Red Book

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If you are a property investor looking to take the next step into developing property, then there’s never been a better time.  Just take a quick look at the current market conditions and you’ll see what I mean.
Australia’s housing shortage is likely to get much worse before it gets any better because construction of new housing continues to fall well behind the number of properties required. We are seeing Australia’s population growing although the ABS reports that at March 2011 growth had slowed slightly over the previous year.  But we still grew by 312,400 people. In contrast, there was a 7% decline in new dwelling commencements (nationally) over 2010-11 to 154,877.
Then there is the continually rising demand for rental properties. The national vacancy rates are now 1.8% and a lot lower in most of the areas of the NSW Hunter Region, where Property Bloom is developing. There is massive demand for new rental stock, and tenants will pay a premium for brand new.
And here’s a tip for what to build:  The changing demographics of Australia – particularly a smaller proportion of couples with children and ageing of the population – is likely to increase underlying demand for smaller dwellings proportionally more than demand for separate houses.
The government’s National Housing Supply Council’s 2010 State of Supply report concludes:
<ul>
<li>Underlying demand has continued to grow since the last report (by more than 200,000 households) and is projected to increase further by 2029 (by 3.2 million households to 11.8 million);</li>
<li>Supply is not responding to this increase in demand (and that the impact of the global financial crisis on residential development in 2008-09 is likely to reduce dwelling completions in the next few years);</li>
<li>State and territory data on future infill and greenfield supply may be higher than actual delivery of lots (contributing to a larger gap);</li>
<li>The gap between demand and supply has continued to increase and will continue to increase without any changes to demand and/or supply;</li>
</ul>
So the writing is on the wall. We need more housing and depending on where you are developing, villas or units will be in demand.  It’s a perfect time to step up and become a developer.  But if it’s your first time, you should use a project manager to guide you through the development process.
At Property Bloom we start by finding suitable and affordable development sites for clients in the right locations where there is good demand for new dwellings.  Then through a detailed process, we’ll guide the project to a result of building anywhere from two to six new villas, more if clients can finance larger developments.  In some areas we are building larger houses, as this is what is in demand right now.  The total cost of a typical development is $650,000, around the price of a two-bedroom unit in Sydney. 
While all the hard work is taken care of, clients can be as involved as they like in the process.  We have some clients who are first-time investors and need their hand held through the process. Others want to learn the development process so they can do it themselves next time. At the other end of the scale there are experienced investors who work in demanding jobs who don’t have time to source development sites for themselves, let alone manage the entire process.  Property Bloom has managed over 45 developments, so we have a tried and tested system in place. 
Using a project manager to handle your development means you are handing over all the detail to someone with the experience needed to successfully manage your investment.  Some of the responsibilities of a project manager include:
<ul>
<li>locate suitable sites</li>
<li>run feasibilities on potential development opportunities</li>
<li>brief designers and work with them ensure the site is optimised through good designs</li>
<li>consult with architects, engineers and other technical workers to make sure that design intentions are met.</li>
<li>interpret plans, estimate costs and recommend reliable suppliers</li>
<li>manage the planning phase to ensure the fastest possible approvals</li>
<li>study building contract documents and negotiate with building owners and subcontractors </li>
<li>manage construction methods and procedures </li>
<li>co-ordinate the supply of labour and materials </li>
<li>direct site managers and subcontractors to make sure standards of building performance, quality, cost schedules and safety are maintained </li>
<li>control payment to subcontractors by valuation of completed works </li>
<li>communicate effectively and report accordingly</li>
<li>keep project budgets</li>
</ul>
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
 
<ul></ul>
 
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jochivers-wq5Bp59R5a

Property development is needed to address the housing shortage

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SQM Research's top 10 discounted properties list includes a distressed Queensland property that is now being offered for $250,000 below its purchase price. It's been listed as mortgagee in possession, having failed to sell at its May auction. It was first listed in April 2010 at $590,000, which remained its asking price until April this year. 
"There is one in particular that we would like to draw to your attention to - number two on this week's list, 92 Beelong Street Macleay Island - an off shore location in Queensland. Yes, a large discount in price is not entirely surprising for a property in such a remote location. What is quite shocking however, is that this property is recorded to have last sold for $590,000 in December 2007,$250,000 more than its current asking price," SQM director Louis Christopher says.
"Although SQM Research have been predicting house price declines in certain areas, a discount of this degree is not expected nor common, even in isolated areas such as Macleay Island.
"We can only assume that with a price slash of this nature coupled with the mortgagee being in possession of the property that this is a simple case of the vendors wishing to meet the market and sell as soon as possible."
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a href="https://&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 532
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016" target="_blank">92 Beelong Street, Macleay Island, Queensland, 4184</a> (pictured)
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 531
 
3
<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: 204
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903" target="_blank">3 Boolari Road, Gosford West, NSW, 2250</a>
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 850
 
<h2 style="font-size: 18px; line-height: 21px;">5</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: 385
 
<h2 style="font-size: 18px; line-height: 21px;">6</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: 463
 
<h2 style="font-size: 18px; line-height: 21px;">7</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: 450
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a href="https://&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107366585" target="_blank">146 Maddington Road, Maddington, WA, 6109</a>
On the market since: April 30, 2011
Initial asking price: $5.5 million
Current asking price: $3.5 million
Reduction: 36%
Days on market: 189
 
<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%3D2007217761" target="_blank">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,236
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317" target="_blank">3 Zelma Court, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $380,000
Current asking price: $250,000
Reduction: 34%
Days on market: 531
 
SQM Research also offers a list of the <a href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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cknowlton-QnEa6ntUYP

Distressed Queensland property makes debut on SQM Research's top 10 discount list

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<img src="/images/stories/haven1.jpg">
Abbotsford is becoming a development hotspot, with a new 148-unit, 11-storey development 30% sold after launching on November 5.
Haven is the second stage of a three-stage project by developer Hamton, after stage one of the Abbotsford development, the 201-unit Eden, sold out. The three together are set to have 560 apartments.
They join other recent residential building in the suburb, such as<a href="https://www.propertyobserver.com.au/developments/trenerry-abbotsford-development-brings-residential-to-the-riverfront/2011091451544" target="_blank"> the Trenerry development</a>.
<img src="/images/stories/haven2.jpg">
Haven will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Of the apartments that sold, 18 were over $1 million. 
Hamton joint managing director Paul Hameister says the previous development drew well-heeled owner-occupiers from the neighbouring high-end suburbs of Hawthorn and Kew. Prices for Eden apartments ranged from $320,000 to $2,665,000.
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site,“ Hameister says.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
<img src="/images/stories/haven3.jpg">
Haven will include resort-like features to cater for high-end owner-occupiers, including a hotel-like lobby with concierge service, bar and lounge, a panoramic rooftop with landscaping and plots available for resident gardening, a heated rooftop pool and spa, indoor cinema, gym and outdoor adventure gear available for hire.
“We are pleased that our extensive research into the empty nester market and the steps we have undertaken to accommodate their needs has been validated with these results,” says Hameister.
Architecture firm RotheLowman is designing the inside and outside of the building, designed to emulate the curves and contours of the neighbouring Yarra River.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street.
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
Construction is expected to begin in early 2012 and is expected to be finished in early 2013.
For advice on buying off the plan download our free e-book.
 
 
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Abbotsford development Haven 30% sold in first fortnight of marketing

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Children, grab your notebooks and gather around, I am going to tell you a story.
There were once two identical buildings – building A and building B.  They sat side by side and remember they were exactly the same.
They each had 50 nice little apartments in them.
Both building A and B started selling at the same time.  The apartments in both buildings sold for exactly the same price and attracted the same exact rent once completed.  They were both promoted as being affordable and were aimed at key workers.
Now children, a key worker is a local resident such as a nurse, school teacher, bus driver, police officer or firefighter, for example, and reflecting today’s society, baristas are included also.
Nearly all of the apartments in both buildings sold to investors.  Both projects each employed 200 people during their construction.
But this is where their similarities stopped.
And the moral to this story, like all good tales, comes at its end.  So best we listen carefully.
Building A was sold locally.  The developer built an expensive display suite and advertised in the traditional way via print advertising.  He staffed the display with a receptionist and several salespeople who all drew a wage and got paid the standard industry commission.  Only government rebates applied, such as the first-home buyers’ boost.
Building A took three and half years to sell, with the first tenants moving in a full five years after the first sale was made.
All of the apartments settled without much of a hiccup, with most of the buyers’ bank settlement valuations coming in within 5% of the purchase price.  And for the older (read smarter) children in the class, there was very little resale price or rental growth across the market between the first sale and settlement.
The developer, given the project took so long to sell, ended up spending close to 20% of his gross realisation (kids, ask one of your parents when you get home what GR is) on promotion and commissions.  He made very little profit – and the stress from such an arduous haul almost killed him – and he vowed never to do another property development again.
Building B was a completely different kettle of fish.  It sold out in under six months and was ready for tenants to move in within 18 months of the first sale.  The developer spent less than 10% of GR on promotion, sales commissions and rebates.
The 200 people employed during its construction all got paid and are now off working on another building job, making good money and helping house even more key workers.
But this developer, too, will not be doing another project any time soon.  Why?  Because only 35 out of the 50 little apartments have actually settled.  So the developer has made no profit and might have to sell her house to make ends meet. 
Now, in order to sell these apartments quickly, the developer offered a higher sales commission, targeted interstate and overseas buyers (as there are lots more of them than local buyers) and also offered to pay buyers’ stamp duties if they bought before construction started.
You see, children, these buildings were located in a backward state where electioneering, not sense, prevails.  In this dark place, full stamp duties are charged on presales and even things like 27c¹ still exist.
In order to make her marketing budget stretch, the developer of building B didn’t build a display suite, nor directly employ anyone, she was smart and promoted her project digitally and used the expertise of others to help make sales.
For building B it was a fight from the get-go with regards to buyer settlement valuations.  The same valuers were employed as in the case of building A.  They even used the same “comparable” resales to bench market value.
But because a higher commission rate was paid, sales weren’t made to yokels (oops, I meant to say locals) and rebates were offered, the apartments in building B were apparently worth much less, despite them attracting the same rent.
As a result, the buyers in building B had to find more money in order to settle.  Most did, some begrudgingly (and who could blame them), while several just couldn’t afford to do so.  Hence, 15 apartments have yet to settle.
So children, what is the moral to this story?
No, Jane – buying in Building A isn’t the answer I am looking for.  And no, Jimmy – we cannot get rid of valuers.
In fact children, there are two main messages here:
Firstly, an investment dwelling’s worth should be determined by income – that means rent – just like it does for offices, shops and factories.  It shouldn’t be determined by a “comparable” resale.
Secondly, how and where the developer spends his or her money on a project shouldn’t affect the market’s (nor valuers’) perception of value.
Now everyone get out your notebooks and write down these two things:
An investment’s value shouldn’t be determined by what a buyer once paid but by its income.
The distribution of costs has no bearing on the end value of a product.
¹ According to clause 27c, all agents in Queensland are required to list how much they charge for commissions.  Valuers on instructions from the mortgage insurers and banks are deducting the amount the agent is paid in excess of the standard Queensland sale fee of 2.5%.  The 27c is a product of the Gold Coast fly-in and fly-out marketing of 25-plus years ago.  It only applies to Queensland.
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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A tale of two Queensland buildings: An investment property's worth should be determined by income

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Lend Lease has been selected as the preferred Waterbank, East Perth redevelopment tender. The project will be staged over 10 years with an end development value of $1 billion, under a land management structure.
Waterbank is a key precinct in the state government’s Riverside project being overseen by the East Perth Redevelopment Authority.
The project is a<a href="https://www.propertyobserver.com.au/land/lend-lease-and-multiplex-vie-for-perth-waterbank-tender/2011092251649" target="_blank"> four-hectare mixed-use precinct on the banks of the Swan River </a>and is proposed to include more than 700 residential apartments, a hotel, commercial offices, retail and substantial public spaces for residents and visitors.
Lend Lease Group chief executive officer and managing director Steve McCann says the company’s selection reflects Lend Lease’s international experience and expertise in urban regeneration.
“This large-scale urban redevelopment plays to Lend Lease’s core strengths and enables us to leverage our integrated model, including development, construction and funds management,” McCann adds.
 
 
 
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Lend Lease wins Perth's Waterbank tender 

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Stand by for November 26 as Melbourne get its super Saturday 1,000-plus auction weekend this spring after all.
It looked like vendors had been frightened off by the low 50% auction clearance rates and bearish headlines, and as a result that the benchmark would go wanting in 2011.
Melbourne typically can have five or so 1,000-plus auction weekends each year, but November 26 will be the first this year. There were some 950-auction weekends during late autumn.
There are 1,045 auctions scheduled for the last weekend of the month, according to Robert Larocca at the Real Estate Institute of Victoria.
It’s well short of Melbourne's biggest auction day, with a record 1,400 properties, which was in March 2008.
Sydney will have a 630-plus weekend on the last Saturday of November, according to Clinton McNabb at Australian Property Monitors.
There will be fewer auctions that weekend than Sydney's record 779 weekend in November 2010, the biggest auction day in the state's history.
In the meantime Sydney’s weekend clearance rate was 57% this past weekend, which was the highest for two months.
Melbourne’s clearance rate on the weekend was 54% compared with 50% on each of the past two weekends.
Next weekend the REIV expects about 815 auctions in Melbourne and APM expects 530 in Sydney.
Melbourne’s last 1,000-plus flurry was the December 12 weekend last year, with 1,235 auctions and a clearance rate of 57%.
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Melbourne gets its super Saturday test after all

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Rothesay, the very grand 1896 Victorian Italianate home in Bellevue Hill, was passed in at $12 million at its auction last night.
Ray White auctioneer James Keenan took just the one bid before passing the property in for private treaty negotiations.
In 1998 the founder and executive chairman of the St Hilliers group, Tim Casey, and his wife, Anne Marie, daughter of the legendary thoroughbred trainer Bart Cummings, bought Rothesay for $4,606,000 in 1998 from the Jagelman family.
Having since been extensively remodelled, Rothesay was listed with price hopes of more than $13 million.
The landmark five-bedroom Cranbrook Road mansion comes with separate self-contained staff quarters on its 2,008-square-metre block.
It’s undergone a revival with Thomas Hamel interiors and outside William Dangar landscaping.
It’s crowned by a classic Italianate turret with a sundrenched tower room.
The listing presented a rare opportunity to secure a landmark property of “true international stature,” says its Ray White Double Bay listing agent Craig Pontey.
“Rothesay is arguably Sydney's finest example of Italianate architecture,” its conjunctional Ray White agent Michael Finger adds.
 
 
 
 
 
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Rose Bay Italianate mansion Rothesay passed in for $12 million at auction

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<img src="/images/stories/sydneybridge.jpg">
Pricey apartments in the Goldfields House development site are being sold to multimillionaire Sydney buyers in a by-invitation-only marketing campaign. The coveted 25-storey Sydney property overlooking Circular Quay has some of the best views in town and has been mooted for a luxury residential redevelopment for the past few years.
It’s one of the oldest office blocks on Circular Quay. Property agents say the value of apartments in and around Circular Quay would be upwards of $34,000 per square metre.
Apartments overlooking the Opera House have sold for as much as $16 million.
<img src="/images/stories/onealfredinside.jpg">
The <a href="https://www.colliersvideo.com.au/emag/residential/onealfredstreet/" target="_blank">One Alfred Street, Circular Quay site</a> has been in Valad's development pipeline for some years. There have been delays, as Valad was among the harder-hit real estate investment trusts during the global financial crisis. The building is designed by Kerry Hill.
Before its takeover by the US firm Blackstone, Valad lodged a development application to redevelop Goldfields House into a $1 billion upmarket apartment block with new ground-floor retailing.
In 2008 the office tower faced the looming threat from developers wanting to turn key harbourside office skyscraper into luxury residential abodes.
Several buildings, including the Scullers Arms hotel, were demolished to make way for Goldfields House at 1 Alfred Street, which was designed by Peddle Thorp and Walker and completed in 1966.
The proposal has provisional approval from the NSW Heritage Council, given the works are within metres of the Tank Stream.
The Quay apartment block on Phillip Street was the first harbourfront residential venture following the slump in the city office market in the early 1980s.
But its developer, Trustees Executors, went into liquidation during the 1983 credit squeeze and John Lewis's Concrete Constructions took over the project.
There are now about 100 residential blocks throughout the city, up from 28 in 1994.
The Astor on Macquarie Street was Sydney's most prestigious high-rise block when it was completed in 1923.
<img src="/images/stories/alfred2.jpg">
Since the project received development approval in May from the state government, the One Alfred Street apartments have been quietly marketed to wealthy investors in Asia.
It compared the rarity of the offering to an original Ford GT40, a 19th-century Chateau d'Yquem or a 14th century Yuan dynasty vase.
The latest market campaign says One Alfred Street is a “once-in-a-generation opportunity.”  The viewing platform will be available on a strictly invitation-only basis from November 2011. 
In August it was reported that the <a href="https://www.propertyobserver.com.au/new-south-wales/luxe-london-developer-nick-candy-might-see-gold-fields-house-as-a-sweet-possibility/2011082451280" target="_blank">upmarket London developer Nick Candy, known for One Hyde Park, the world's glitziest apartment blocks in the well-heeled London suburb of Knightsbridge, met executives from US private equity giant at which the development was discussed.</a>
A Candy spokesperson has confirmed that he met Blackstone executives, but would not comment on "specific deals".
Previously local developers including Grocon, Lang Walker, Mirvac and Lend Lease had previously expressed an interest in joint venturing the site.
Valad bought it in 2006 for $274 million and sold a 40% stake to the Dutch pension fund APG in 2008.
In May, when Blackstone’s takeover offer was mooted, Valad said that the Sydney Local Environment Plan 2005 (Amendment No. 2), which was previously approved by the Sydney City Council, had been gazetted by the government.
''This enables Valad to pursue development approval for the redevelopment of Goldfields House,'' Valad's then acting chief executive Clem Salwin said.
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Shrouded in mystique, One Alfred Street seeks out wealthiest of purchasers

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1/41 Alamein Street, Noble Park, VIC, 3174
<img src="/images/stories/alamein.jpg">
This tenanted two-bedroom unit in Noble Park is currently leased at $520 per fortnight. The tenant is on an expired lease but is keen to stay, and this property could be a good investment. <a href="https://www.hallfn.com.au/index.cfm?pagecall=property&amp;propertyid=1868221" target="_blank">Hall and Partners First National </a>agent Ian Kerezovic is marketing the property with price hopes of $240,000 plus. If it sells for $240,000 that would be a gross rental yield of 5.6%, higher than the indicative gross rental yield of 4.8% for Noble Park units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property is within walking distance of the train station. <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 $8,000. The property was passed in at auction on a vendor bid of $220,000 on Saturday, November 12.
For more information about price and yields in Noble Park, see the RP Data suburb page.
For more investment prospects going to auction this weekend, see pages 2 and 3.
 
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6/7 Reynolds Street, Cremorne, NSW, 2090
<img src="/images/stories/reynoldsst.jpg"> 
A short walk from shops and transport, this one-bedroom unit comes with a rare car space. It is currently leased to tenants paying $380, and although the lease is expired, the tenants would like to stay on. <a href="https://www.totalrealty.com.au/?pagecall=property&amp;propertyID=1887332" target="_blank">Total Realty First National Crows Nest</a> agent Greg Lambert was marketing the property with price hopes in the "early $400,000s", according to the agency. If it sold for $410,000 that would secure an investor a gross rental yield of 4.8%, higher than the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The unit includes a balcony and a car space. <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000. The property was sold for an undisclosed price.
For more information about prices and yields in Cremorne, see the <a href="/news">RP Data suburb page</a>.
 
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46 Greenacre Road, Greenacre, NSW, 2190
<img src="/images/stories/greenacre.jpg"> 
This two-bedroom house was recently rented at $470 per week. Ian McGuire of <a target="_blank" href="https://www.professionalsgreenacre.com.au/details/?pid=507591">The Professionals Greenacre</a> marketed the property pre-auction with price hopes of $470,000 plus, and if it were to sell at that price it would secure an investor a gross rental yield of 5.2%, higher than the indicative gross rental yield for Greenacre houses of 4.8%, 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. It includes a sunroom or potential third bedroom. <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 $7,000. The house was passed in at auction for $470,000 on Saturday, November 12.
For more about prices and yields in Greenacre, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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