<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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Farm income during 2011 and 2012 is expected to be double the average of the previous two decades due to a combination of high food prices and bumper crops, according to Philip Lowe, assistant economic governor with the Reserve Bank.
Speaking at Australian Farm Institute Agriculture Roundtable Conference, Lowe said in an uncertain global financial environment the outlook for Australian agriculture was good.
According to IMF figures, global food prices have increased 40% since 2004 and other figures show commodities such as wool, beef, wheat and sugar experienced similar boosts.
These increases have had an impact on the costs of inputs for farming, like fuel fertiliser and seed, but overall Lowe says the rise in prices is good news for domestic producers.
Lowe says the near-record-breaking expected winter wheat crop of around 40 million tonnes follows a good harvest last year. Farm output has increased by about 70% since the mid-1990s.
“This combination of generally high prices and high output has provided a substantial boost to aggregate income of the farming sector over the past financial year, and another favourable outcome is expected this year,” Lowe says.
“After adjusting for inflation, farm incomes over these two years are expected to be almost double the average of the previous two decades.”
Lowe says the increase in global demand for food comes from the rising food consumption in Asia as well increased meat consumption, which demands large amounts of grain, as well as an increase in the use of foods for non-consumption purposes like bio-fuels. This comes with a modest expansion in the global supply due to urbanisation in Asia and an increase in extreme weather.
Ivan Colhoun from ANZ Research says: “While the speech is mainly focused on the medium-term positive outlook for agriculture, there was some guidance about monetary policy. It's currently neutral, and it seems increasingly dependent on how things play out in Europe.”
“The European situation remains grim… there is likely to be considerable uncertainty about the global economy for an extended period.
“Encouragingly, the US economic data has generally been better than expected recently, corporate balance sheets remain strong and there are few signs that the financial turbulence has led to the significant deferral of spending on capital goods that caused so much damage in 2008 and 2009. At the same time, while Asian growth has slowed, growth remains firm and is increasingly domestically sourced (something that needs to continue to increase across time),” he says.
He also notes: “The downward trend for global food prices over the past 100 years appears to have ended.”
 
 
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Bumper crops and increased demand to increase farm income to near record levels: RBA 

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{yoogallery src=[images/stories/november10melton]}
A Townsville mansion owned by the founders of collapsed Storm Financial Services, Emmanuel and Julie Cassimatis, has been listed for auction next week.
The eight-bedroom home has failed to sell at the family’s asking price of $3.8 million ever since first being listed in 2006.
The sale highlights the demise of the couple, who oversaw the loss of $3 billion of investors’ money in 2009. They have since sold their private jet and a similar property in Brisbane, which went for $2 million this year. The Cassimatis couple are charismatic socialite figures in Townsville, with the mansion once representing the financial success of Townsville business.
This 900-square-metre property, which sits on an 1,854-square-metre block, features a $75,000 Waterford crystal chandelier, lifts, two swimming pools, four bathrooms and has views over Magnetic Island, Cleveland Bay and the Townsville CBD.
Its listing agent Garry Byrnes from Ferry Property Townsville has had the Melton Terrace listing on and off the market since 2009. 
It has been reported the current price guide is now about half the original asking price of $3.8 million, although Byrnes has been responsible for the town's most recent prestige house sale.
The agent's marketing says " Under strict instruction from the owners, this property is to be sold."
The property has not been lived in for many months. 
It was originally bought for $280,000 in 1997. 
It has been reported the current price guide is now about half that, although Ferry Property agent Garry Byrnes has been responsible for the town's most recent prestige house sale.
 It was a three-level Stanton Terrace property sold for $2.85 million in 2010. 
The ASIC website notes ASIC's investigations into the collapse of Storm continues.
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Cassimatis property for auction three years after Storm collapse

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The definition of a developer’s nightmare is: hearing that your builder is going into liquidation.  So what happens when a builder you’re using does go into liquidation? 

With the announcement of Cosmopolitan Homes in NSW going into liquidation last week, I thought I’d share what I know about this topic. 

When your builder raises a contract, it also needs to raise insurance. The policy that is most important is the home warranty insurance.

[smartcode_project:default project_id=6284]

Home warranty insurance is issued to the developer/homeowner to protect them against loss due to non-completion, defects and breach of statutory warranties by the builder. It is legally required and is only triggered if a builder dies, disappears or becomes insolvent before completing the home or fixing the defects.

I’ll repeat: you can only claim on this policy if your builder dies, disappears or becomes insolvent.  These are pretty drastic outcomes for the builder, but can also have dire consequences for you.

I think we all understand what ‘dies’ means.  ‘Disappearing’, well I’m not sure how this is legally defined, I couldn’t find an explanation. How long does he have to be gone for?  Does a three-month trip to Vegas count?  What I do know more about is the process of ‘becoming insolvent’, and it can be quite drawn out.

If you find yourself in the situation where your builder has gone into voluntary or court-appointed liquidation, the good news is you are most likely covered by home warranty insurance. The bad news is your cover may not be enough to complete your building works. 

I’m going to let you into a little-known fact:  Your home warranty insurance policy only covers 20% of the builder’s contract and up to a maximum of $300,000 for incomplete work.  So the stage your builder goes broke is very important, but totally out of your control. I’ll come back to this.

Going into liquidation is not easy for anyone. For voluntary liquidation the builder needs to acknowledge that he just can’t keep trading. There can be a period of denial as he comes to terms with this. He should not be trading while insolvent because that’s against the law.  Signs of distress may include: delays in completing the stage of build and disgruntled tradies who have not been paid or are continually having to chase payment and the builder being over anxious for his next drawdown. So when the builder finally faces reality and goes into liquidation, he needs to appoint an accounting firm to manage this process.  They will be known as the liquidators. Their job is to notify all “creditors” of the situation.  A creditor will be you if you are under construction with the builder and anyone else he owes money to like staff, contractors and suppliers.

The builder may be put into court-appointed or official Liquidation. This is when someone applies to the court that a company should be wound up in insolvency. If this happens the court will appoint a liquidator.

Either way, before you can make a claim under the home warranty insurance policy, the status of the company must change from “registered” to “under external administration and/or controller appointed” on the ASIC website. Once the company’s status has been changed, you can lodge your claim.

When you make your claim, you’ll be asked to complete a schedule of payments you’ve made to the builder up to this stage. You’ll know how much you have left in your construction loan account. So then it’s a roll of the dice to see if you can complete the works with the insurance payout.

The insurance company will appoint an assessor who will inspect the site and put a building schedule together for the works that are outstanding. This is sent out for tender to builders on the insurance company’s panel and you can also get your own quotes.  This is when you may discover that the works required to complete the project may not be covered by the claim and what’s left in your construction loan.  With just 20% of the original builder’s contract to play with, there really isn’t a good time for your builder to shut down.

How can you avoid the situation of a builder going broke? Well you can certainly do your research on them before signing up. Get a list of their tradies and talk to them about how they are treated by the builder. Does he pay on time? Is he good to work for?  How long have they been working with him? Talk to past clients and ask how their experience was.  Check the Department of Fair Trading website for any past complaints and the ASIC website to see how long the builder has been trading and his status. 

At the end of the day, you will need to trust yourself and go with how you feel about a builder. After all, we cannot know everything that is going on with a company. When you find a good builder, stick with him! 

Interesting links: 

<a href="https://www.propertyobserver.com.au/https://homewarranty.nsw.gov.au/portal/server.pt/community/a%3Bhome/255">https://homewarranty.nsw.gov.au/portal/server.pt/community/a%3Bhome/255</a>  

<a href="https://www.fairtrading.nsw.gov.au/">https://www.fairtrading.nsw.gov.au</a>  

<a href="https://www.search.asic.gov.au/gns001">https://www.search.asic.gov.au/gns001.html</a>

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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jochivers-wq5Bp59R5a

What to do when your NSW builder goes into liquidation

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Confidence among mortgage holders has soared following the November rate cut by the Reserve Bank, according to the Westpac Melbourne Institute Index of Consumer Sentiment, which improved in November.
Westpac chief economist Bill Evans says the significance of the rates decision is most apparent from the breakdown in responses among home owners.
“Confidence amongst those folks which have a mortgage soared by 13.9%; and people who own their house mortgage free boosted their confidence by 6%,” Evans notes.
“The Index is now indicating that optimists slightly outnumber pessimists for the first time since June 2011 and this is the highest reading for the Index since May 2011.
“However it is still 6.7% below its level last year.”
Evans recalls that the index fell by 5.3% in response to the rate hike in November last year.
He says the changes follow the same pattern as 2008, when the Reserve Bank cut rates for the first time in that cycle.
When the bank stopped threatening rate hikes sentiment grew 9.1% and when the cuts were delivered that year sentiment went up another 6.3%.
In the past week the Westpac Melbourne Institute Index of Consumer Sentiment increased by 6.3% in November from 97.2 in October to 103.4 in November.
Although sentiment towards housing improved by a solid 6.5% in November, sentiment towards purchasing a motor vehicle was down by 3%.
The Reserve Bank Board next meets on December 6.
“Our view has been that the easing cycle which has now begun is likely to be much more measured than the one we saw in 2008, when rates were slashed by 300bps over four consecutive meetings,” Evans says.
“Accordingly, we would expect the next move to be in February next year when the Bank has had time to assess the impact of the first move; more information is available about the global economy; and further evidence is available on inflation.
“However, our interpretation of the bank’s recent statement on monetary policy is that it is troubled by developments in Europe and, due to a more downbeat assessment of the domestic economy, sees clear room to cut further.
“Developments overseas, as we saw in 2008, have the potential to move the next cut forward to December but, for now, our call remains that the next move will be 25bps in February with a further 50bps in cuts over the course of 2012,” Evans says.
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Mortgage holder confidence soars following November rate cut: Westpac

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Developers are optimistic about demand for new housing on the Gold Coast picking up over the next 12 months despite another lacklustre quarter.
Currently only two projects are selling more than eight lots per month, however 12 projects aim to sell at that rate next year, according to the latest Prodap report, a regular survey of over 150 active developers operating on the Gold Coast.
The projects to achieve sales of more than eight lots per month over the September quarter were Delfin Lend Lease’s Woodlands development at Waterford, which recorded 38, sales and Stockland’s Highland Reserve project in Upper Coomera, which recorded 25 sales.
One of the historically best-performing estates, The Observatory at Reedy Creek being developed by Stockland, recorded only 10 sales in the quarter, with plenty of stock remaining.
However a “surprisingly high number of developers expect to produce in excess of 100 lots over the next 12 months. This reflects an average sales rate of eight per month per project”.
The pick-up in residential land development is expected despite there being over 1,300 lots available for sale on the Gold Coast representing about 13 months’ worth of supply.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/gcchartlarge.gif"><img src="/images/stories/gcchart.gif"></a>
Click to enlarge
Developers expect to increase their supply of new lots over the next 12 months ending September 2012 to be equivalent to two and a half years of supply at the current take up rate.
“Perhaps the developers are anticipating a revival of sales, or perhaps they are just being optimistic about their own particular project,” says<a target="_blank" href="https://www.propertyobserver.com.au/leisure/queensland-tourism-industry-needs-government-help-midwood/2011100551817"> Bill Morris, author of the report</a>.
This rate of new development could be even higher if the Commonwealth Games bid is successful. The successful bidder will be announced on November 11.
“A Gold Coast win will have a huge impact on employment over the next six years, with a budget of $2 billion allocated by the state government for new facilities,” says Morris.
“The core of these facilities will be a competitors' village to house an estimated 5,000 competitors in studio apartments.
“The site for the village is to be at Parkwood on the existing trotting and greyhound club land.”
Currently though sales continue to wallow at record lows, stock levels are not oversupplied even at the low sales level, and packaged housing production is low, putting upward pressure on rents.
Low sales levels are attributed to low interstate migration into Queensland ( less than 10,000 per year), which is affecting the demand for Gold Coast housing generally.
The suburb of Upper Coomera, where Coomera Waters is being developed by Austcorp, achieved the greatest number of land sales over the quarter at 68 while Pimpama recorded the highest number of house and land package sales with 17.
For advice on buying off the plan, download our free e-book.
 
 
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Gold Coast developers optimistic, despite slow sales

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A not-quite-knockdown five-bedroom Mona Vale beachfront house has been sold for $3.28 million.
The sale of the 808-square-metre Surfview Road holding was at Raine &amp; Horne auction where it was announced on the market at $3,225,000. Its selling agents Glenn Lee and Rebecca Lee noted that, with six registered bidders, the vendor had met the market.
It is understood to have been sold to a family who will use the property as a holiday home.
There had been $5 million hopes for it went to initial auction in October 2010 by H. Lindsay Thompson, a retired professor who was president of the AMA from 1982 to 1985, who bought the beachfront three decades ago.
<img src="/images/stories/monavaleaeria.jpg">
Just a few doors along,<a href="https://www.propertyobserver.com.au/new-south-wales/max-delmege-s-sydney-northern-beaches-property-finally-gets-over-the-line/2011102652087" target="_blank"> the resort-like Mona Vale beachfront residence of the veteran property developer Max Delmege and his wife, Narelle, sold earlier this month for a reputed $3.5 million</a>. Peninsula rumours suggest it may have been a tad less, but there’s no confirmation from the selling agents.
It was on its third mortgagee auction marketing campaign.
The house had been listed with $7 million-plus hopes on the same weekend in October 2010.
The two-level house sit on an 870-square-metre block which is surrounded by two apartment blocks.
Delmege, who bought the holding for $750,000 in 1994, rebuilt the house in 2009, after which he noted it secured a $9 million valuation.
Delmege's holding is surrounded by two apartment blocks, unlike the Thompson property, which has three delightful tall pines overlooking its grounds. 
The Thompson listing reflected $4,059 per square metre, compared with the Delmege sale at $4,022 per square metre.
There are no available guides to the Delmege construction costs, but estimates were around $1.4 million.
The Thompson listing represented a 34% discount on initial hopes in October last year.
The Delmege listing represented a 50% discount on initial hopes and a 60% discount on 2009 valuation.
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Land prices find their footing on Mona Vale beachfront

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Some 58% of Australians feel confident the economy will remain strong and stable over the coming year, believing Australia will fare better than the US and Europe, according to the latest CUA survey.
It noted any uncertainty Australians had towards the property market was only short term, with 58% feeling positive about it improving over the next five years.
Just 18% anticipate property prices will be below current levels in five years’ time.
Some 33% of those surveyed were intending to take out a loan over the next year, with half intending to do so to purchase either an investment or residential property.
The survey found that 63% of those looking at buying an investment property over the next year were totally new to the market.
Andrew Hadley, group general manager of strategy and marketing at CUA, suggests the findings provide a welcome contrast to the gloomy commentary that has been dominating recent headlines.
“The past few years have certainly been challenging economically and, while global economic uncertainty prevails, the continued strength and resilience of the Australian economy and financial system appears to be helping fuel a renewed sense of confidence and optimism among the Australian public.
“Undoubtedly, the recent cash rate cut announced by the Reserve Bank of Australia (RBA) will help to further drive this sentiment,” Hadley adds.
“As a nation we have been shoring up our savings and been cautious about making any major purchases and this has been particularly noticeable in the property market.
“It’s therefore encouraging to see that CUA’s Borrowing and Investment Intentions Survey highlights a positive attitude towards our property market over the medium term.”
Following the RBA’s latest rates announcement, CUA has cut 25 basis points off its standard variable home loan, pushing it to 6.97%.
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Strong new investment buying intent as most Australians think property will be pricier in five years: CUA

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Property group Metro Property Development has plans for another apartment and retail development in Brisbane’s Fortitude Valley after acquiring two adjoining sites measuring a total of 2,553 square metres. 
Settlement on the two sites at 1 Commercial Road and 977 Ann Street is due by November 2012, subject to appropriate development approvals. 
In the pipeline is a high-rise residential and retail development with more than 200 apartments and a total value of $105 million. 
If it goes ahead will add to more than a <a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">dozen residential projects under development or under construction in Fortitude Valley and Bowen Hills, adjacent to the Brisbane CBD</a> including Alex Perry’s 11-storey designer block being developed by Chrome Property Group. 
The 900-square-metre Anne Street site was occupied by a church organisation, which paid $522,500 in 1997. It had been recently listed for sale at about$3.6 million by Yong Commercial Sunnybank Hills.
The 1,450-square-metre Commercial Road car yard last traded at $1.97 million in 2003.
Both sales were negotiated by Elders Commercial’s Carl Charalambous. 
Charalambous says the sales are indicative of the strengthening market for new development sites in and around the Brisbane CBD. 
Metro founder and executive chairman David Devine says the latest acquisitions will take the company’s workbook of current and future apartment developments (including joint ventures) to 2,030 apartments worth $922 million and 800 residential development lots in Victoria worth $120 million. 
“Fortitude Valley has enjoyed strong capital growth over the past decade, with a median price growth rate of 5.5% from 2001 to 2010.  However, the suburb is still ranked as the fourth most affordable apartment market within the 21 suburbs that make up inner Brisbane,” Devine says. 
“We continue to see exceptional value in Brisbane’s inner-city suburbs like Fortitude Valley and Bowen Hills with the availability of high-quality sites, sustainable building costs and good demand from buyers.” 
Metro currently has three joint venture projects underway in Fortitude Valley and neighbouring Bowen Hills in partnership with Pearls Australasia, an Indian apartment developer. 
To date, all 195 apartments at The Chelsea in Bowen Hills have been sold while 200 of 285 apartments at the Madison Heights project in Bowen Hills have changed hands 
In the week following its launch, <a target="_blank" href="https://www.propertyobserver.com.au/developments/buyers-snap-up-20-of-fortitude-valley-s-brooklyn-offerings/2011101351911">40 apartments in the 141-apartment Brooklyn on Brookes’ development in the Valley were sold off-the-plan generating sales of $18 million</a> with buyers taking advantage of the Queensland Government’s $10,000 Building Boost. 
Colliers has forecast 1,800 apartments to come up for sale in the inner-Brisbane market over the next 12 months with a further 4,500 due to be released in 2013.
According to Metro Property an extra 22,000 people are expected to move to Fortitude Valley by 2030.
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Metro to add to Fortitude Valley apartment portfolio

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The first stage of Brisbane development Hamilton Reach is 40% sold, after coming onto the market in April.
Stage one of the development, called Watermarque, comprises 78 apartments across two five-storey buildings, and 32 of these have been sold.
<img src="/images/stories/watermar1ue.jpg">
Watermarque includes two one-bedroom apartments, priced from $350,000, 30 two-bedroom apartments priced from $535,000 and four three-bedroom units priced from $890,000. Units range in size from 56 square metres to 150 square metres, plus a 183-square-metre balcony.
<img src="/images/stories/watermarque2.jpg">
Australand Queensland residential division general manager Richard Fulcher says Hamilton Reach’s riverfront location and affordable pricing have been well-received by buyers.
“We believe Hamilton Reach offers the best value new riverfront apartments in the market, and the sales success to date has reinforced this,” Fulcher says.
“Buyers have been drawn to the project due to its lower density,” he says, adding that its river frontage has been a major selling point.
<img src="/images/stories/watermarque1.jpg">
Sales have included two three-bedroom apartments for $1.4 million each and the penthouse for $1.5 million.
Buyers of the first stage of the development include both owner-occupiers and investors.
Watermarque is designed by architectural firm Arqus Design and is close to transport links and entertainment and dining precincts at Portside Wharf and Racecourse Road.
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Brisbane development Watermarque 40% sold

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Little-known Perth real estate investment company FJM Property is part of the consortium of three behind the $580 million redevelopment of Perth’s Old Treasury Buildings.
Premier Colin Barnett has agreed to a 99-year lease with the Mirvac/CBus Property consortium, with the state paying a premium rent of $102 million over $25 years.
The Treasury buildings will be refurbished into an ultra-exclusive Aman Resort while a 35-level office tower will be developed at the centre of the site, which is part of the St George’s Terrace Cathedral Heritage Precinct. The development is expected to be completed in 2014.
“We are the equity investors behind the hotel, but the building will remain a state asset. To be converting something that was one of the most important state buildings in WA is very exciting both from the heritage perspective and that we are breathing life back into a building that has sat unloved for 15 years,” says FJM director Tim Mack.
While FJM may not be widely recognised, chief executive Adrian Fini brings much experience from his many years as executive director of development for Mirvac WA and then as a non-executive director until his resignation from the board last year.
Fini is involved in several smaller projects, including the addition of a hotel to Fremantle’s Little Creatures boutique brewery and restaurant in Fremantle, but the Treasury is the company’s highest-profile acquisition to date.
It has teamed up with uber-chic Hong Kong-based Aman Resorts to manage the site.
Singapore and Fremantle-based architect Kerry Hill, who has made his name by creating some of the world’s most beautiful resorts such as Amannusa in Bali and The Datai in Langkawki, will provide creative direction.
Already it has been decided that preservation is key. While keeping most of their unique shapes, two and three original offices will be joined together to create each of the 48 rooms that will range in size from 50 square metres to 150 square metres. The building will have all the trimmings expected of a six-star operation, including a private library for guests.
“It will have a very authentic and timeless style. Aman brings together indigenous culture, Asian simplicity and European comforts,” says Mack.
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