<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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We’re coming to the end of a year many agents will be pleased to bid farewell.  Turnover has been down in most states – and prices ordinary at best. Last month should have been one of the busiest of the real estate yearly cycle, but turned out to be one of the quietest.  This has placed a strain on many of the smaller real estate agencies that need to bank enough commission to last through the quieter Christmas months.
Therefore the majority are celebrating the official drop in interest rates and it was widely spruiked during the weekend auction pre-ambles as being the stimulus needed to re ignite the market. However, a 25-basis-point drop will have no noticeable effect on prices – certainly not in the short term. Although there is hope, it will mark the beginning of a change in sentiment. 
The Melbourne market is a mixed bag.  There are plenty of buyers looking, but most are reluctant to step into the arena unless necessary.  Those who need to buy are often struggling to find suitable choices – quality has been meagre across the board all year.  In some respects it’s similar to 2008 – investors who need to sell will shed their poorer assets first, owner-occupiers will only sell if personal circumstance demands – and discretionary vendors will only sell if they can get their “wish price”. 
In such circumstances overpriced property will often linger on the market for months at a time, equating to large volumes of sub-par stock, much of which does not fulfil the needs of current home buyers.  Some investors have been brave enough to act against the tide and purchase, but most are cautious enough to wait and see.  If we have a second interest rate drop it may push prices. However it would be premature to make such suggestions while there are still serious global jitters. 
Clearance rates in Victoria have been stuck in the 50s for a number of months, but many vendors are still opting for the auction system over private treaty.  In bullish markets it can be a remarkably successful way to escalate the price to levels buyers wouldn’t have otherwise stretched to, however in a flat market the effect is reversed.  If a buyer sees no one else bidding, he will naturally lose confidence and tighten the wallet strings – in such cases it will take a skilled negotiator to fulfil vendor expectation. However whatever the outcome, it’s a daunting experience for any buyer – and of course seller – full of hope, anticipation, emotion, and drama. 
Melbourne auctions are advertised as a fair, transparent way to sell real estate, and on the face of the process sounds very simple.  Everyone lines up outside the property and providing the bids reach the reserve, the person still holding their hand up when the agent shouts, “sold” is the winner! Right?  Well, not exactly. 
The real estate agent shouting “sold” loudly in your direction and masterfully thrashing the contract into his hand does not complete the sale of real estate.
At this stage the buyer has offered nothing but a verbal promise, which – in real estate – is not enforceable and does not count as a successful sale.  Until the purchaser and vendor have signed the contract, the property is not sold. There’s good reason why sales agents rush the winning bidders inside to sign the contracts after the auction, avoiding excessive chatter or distractions.  Those who have been through the process will also be aware they won’t meet the vendor until the ink is drying on the paper.  It’s not been unknown for arguments to occur between the two parties and as a consequence, the sale to be thwarted. 
In fact if truth be known, the auction process works in the best interests of the sales agency who get their day in the sun performing to the local vendors. With flags on display and a street full of spectators, it provides a fantastic chance to source other prospective buyers and sellers – any agency worth their salt will use the opportunity well. 
Auction rules vary across the states, however in Victoria every agent is obligated to state that the auction will be conducted in accordance with the REIV bidding conditions on display before the event. Following this will be an explanation that no late bids will be conveyed to the vendor and at the fall of the hammer the property will be effectively sold to the “winner”. However this information can be somewhat misleading to the inexperienced ear and it’s important for prospective purchasers to understand exactly what is legally required to complete the purchase. 
Firstly there is nothing that requires the winning bidder to sign the contract.  In other words, they are allowed to change their minds if they suddenly notice something they don’t like on their walk inside the property before pen hits paper! As I said above, the verbal agreement to purchase only takes effect once in writing. 
Secondly – the vendor can also change her mind or sell to a higher bidder.  For example if she overhears someone shout out after the hammer has fallen that they’ll pay $20,000 more there is nothing to stop her instructing the auctioneer to “re-open” the auction – the rules only state that the auctioneer is not allowed to take or convey bids to the vendor after the property has been knocked down.  She can also decide she doesn’t want to sell if she doesn’t like the look of the potential purchaser. Both these situations have occurred more than once, and shouting “unfair” won’t change things one iota.  In other words, the show that has just taken place outside the property essentially offers nothing but  good street theatre. 
What about dummy bidding?  Illegal, right?  Technically yes – however in practice no! The dummy bid has simply been re-termed “vendor bid”.  It serves no purpose what so ever except enable the agent to shout out a bigger number.  It’s neither statement of the reserve, a counter offer, or a realistic idea of the property’s market value.   It’s simply the agent attempting to get the bidder to increase their offer in a vain attempt to get to get closer to announcing the property “on market” and reaching reserve. 
Considering the information above, what is the real goal of an auction in Melbourne? It’s certainly not to get the highest price – after all, the successful bidder is only going to offer one bid over what the under bidder is willing to pay. It can however be very successful when two buyers have a similar amount to spend – although there is no easy way to assess this before the event. In fact a skilled negotiator will stand a better chance of getting a purchaser’s highest price through a private negotiation process than he will at auction.  Get two potential bidders in separate rooms – each not aware of the other’s budget – and you’d be surprised what good negotiation can achieve! 
Auctions can be great street theatre, and on occasion will obtain prices well above expectation.  However as a method of sale, they are nothing more than an elaborate show – publicising the estate agency, and satisfying the vendor that their property has been marketed well enough to attract a range of spectators to the event.  It’s time we started putting more emphasis on other methods of sale and celebrating the many good negotiators in the industry who achieve excellent results without the need for a public show. 
Catherine Cashmore is senior buyer advocate and property consultant. With extensive experience in all matters regarding real estate, she is a regular commentator in the media for numerous outlets providing a broad range of expertise.
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Melbourne auctions offer little more than good street theatre

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It seems last Tuesday’s mild Reserve Bank interest rate cut has triggered the prospect of buyers with bigger pockets, but had no immediate impact on weekend auction buying numbers.
Melbourne’s weekend clearance rate stands at a provisional 53% with 72 of the 525 results yet to come. The previous weekend’s revised 50% was the poorest since 2004, according to the Real Estate Institute of Victoria.


Sydney’s weekend result was 55%, the same as the previous weekend, for which there is still an unknown 10% plus of results for both weekends.
But on the financing front Mortgage Choice’s website has experienced a 357% increase in unique page visits since Tuesday’s Reserve Bank’s decision to cut the cash rate.
Potential buyers’ interest in their borrowing capacity surged according to Australia’s largest independently owned mortgage broker, when compared with the preceding week in October.
The activity centred on Mortgage Choice’s <a href="https://www.mortgagechoice.com.au/calculators/how-much-can-i-borrow.aspx" target="_blank">‘How much can I afford to borrow’ website calculator</a>.
“The difference only one interest rate cut has made to our online calculator hits is impressive,” Mortgage Choice spokeswoman Kristy Sheppard says.
“It is terrific to see potential borrowers are on the ball with market condition improvements, already actively researching their new financial potential.
“It looks like the recent interest rate drop was the signal many buyers were waiting for to spur their property purchase plan into action.
“I’d say a number of them are especially eager to make a move now to take advantage of grants and concessions due to expire early in the new year.
“Lenders are poised to battle each other to attract and retain these market entrants, offering appealing interest rate discounts and other incentives.”
But Sheppard says borrowers may be surprised to hear that despite lenders’ willingness to loan money, the approval process involves much more than accepting a deposit from someone who can afford repayments.
“Applicants are required to have a healthy income and financial history, limited debt, a steady employment record and realistic expectations about their borrowing capacity.
“Attempting to cutting corners on these aspects of your property purchase will only hinder your hopes at loan approval,” Sheppard notes.
Wakelin Property Advisory director Richard Wakelin suggests the November rate cut was "too little too late" to rally this year's market.
"Buyer confidence has been severely dented. The cut is too little too late for this year, but buyers will be breathing easier going into next year," Wakelin adds.
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jchancellor-FAypfDUnLy

Lacklustre weekend auctions, but clicks suggest buyers loom with bigger pockets after RBA rate cut

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<img src="/images/stories/dutruc.jpg">
Silverton, fashion designer Lisa Ho’s 1890s Italianate residence at Randwick in Sydney’s east, was withdrawn from its weekend auction. The four-bedroom freestanding Dutruc Street property, with elegant French provincial adornments, cost $4 million when bought in early 2010 from the interior designer Ros Palmer. Palmer had paid $266,000 in 1985.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/title-tattle-whispers-that-coal-miners-boring-into-nicole-kidman-s-nsw-rural-neighbourhood/2011102052022">Ho has undertaken some renovations to the house on a 630-square-metre holding.</a> It's one of three original homes known collectively as the judges' houses in Randwick's sought-after northern precinct. It includes a stately English oak-panelled living room. There is also a detached teenagers' retreat. It’s listed through Pauline Goodyer at GoodyerDonnelley in conjunction with Alain Waitsman from LJ Hooker Double Bay.
The street's last sale was when Earlswood, the 1890s residence, sold in September last year for $4.3 million. With the top-end market conditions being less robust than 18 months ago, Goodyer was suggesting to buyers that Silverton could sell for less than its last traded price.
But Ho’s week hit new international highs when Kim Kardashian wore a Lisa Ho cream Flying Arches Dress With Back Neck Tie at the Sydney launch of the Kardashian Handbag Collection last week.
Ho, who was born in Albury, on the New South Wales and Victorian border, began sewing at age four inspired by her grandmother, a tailor. She later trained in fashion design at East Sydney Technical College, graduating in 1981, soon after going out on her own.
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Lisa Ho's weekend auction disappointment following Kim Kardashian frock high

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Developers Red.C and MAB Corporation are set to build affordable three-bedroom homes to a multimillion-dollar pocket of Essendon North.
<img src="/images/stories/canopiflicker.jpg">
Canopi Valley Lake will comprise more than 100 detached and semi-detached three-bedroom, two-storey homes on a 20,000-square-metre site, all with two bathrooms and two car spaces. The first release of 23 is set to launch in mid-November, and Red.C co-director Cameron Alderson says 220 people have already registered their interest.
Prices range from $575,000 to $599,000, which Alderson says is very affordable for the area, which is primarily made up of multi-million dollar properties. Block sizes range from 110 square metres to 210 square metres, and the houses will range from 150 to 200 square metres.
<img src="/images/stories/canopi.jpg" style="border-style: initial; border-color: initial;">
The median sale price for houses in <a target="_blank" href="/news">Essendon North</a> is $808,250, according to RP Data. In <a target="_blank" href="/news">Essendon</a> the median house sale price is $915,000, and in <a target="_blank" href="/news">Essendon West </a>the median sale price for houses is $735,000.
“Our homes will be priced quite competitively,” Alderson says. “It’s a brand-new price point for the area. Our homes are not as large, so we’ve put a lot of energy into making sure there’s no wasted space in the homes.”
“All the bedrooms are full size, but the living zone is one open plan area, and that’s where the efficiency is. They’re just compact, efficient, very liveable homes,” he says.
<img src="/images/stories/canopi2.jpg">
Canopi Valley Lake is located within VicUrban’s masterplanned Valley Lake Estate, comprising 550 land lots. Of these, about 200 are now occupied homes. VicUrban has built a lake, boardwalk and nearby parkland.
Red.C recently developed a similar project in Footscray called Canopi Lae Street, and Alderson says he expects the balance of buyers for Canopi Valley Lake to be evenly split between owner-occupiers and investors, as it was in Footscray.
“A lot of them are young professional families, start-up couples, single mums with kids or just a small family,” he says. “Tenants end up being a similar profile.”
The Canopi Lae Street properties sold for between $475,000 and $625,000 in late 2009 early 2010.
Canopi Valley Lake will have a display centre in mid-November. Construction is set to begin in March 2012 and is expected to be completed in the middle of 2013.
For advice on buying off the plan, download our free e-book.
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Canopi Valley Lake development to bring compact living to Essendon

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Given the drop in approvals in 2009-10 and a lack of available development space, investors looking to get their hands on an off-the-plan apartment close to the Sydney CBD will need to act fast.
According to research by Colliers, there are limited opportunities not only for developers but also for individuals seeking to purchase a new apartment off the plan.
There were only 568 inner-city Sydney apartments for sale and 1,440 off-the-plan units for sale in 10 projects in the first half of 2011, according to Colliers, with only 384 apartments approved for development and 655 at the application stage.
Once the Stamford Residences and the Reynell Terraces (both in The Rocks) are completed there will no new supply in the northern precinct (stretching south from the Harbour foreshore to Market Street and east to Macquarie Street) until 2015, says Colliers.
East Exchange in Darlinghurst, which is being developed by the Maygood Group, is anticipated to be the next development completed in the eastern precinct, the zone incorporating blocks east of College Street, to the north of Oxford Street to William Street, west of Darlinghurst Road to William Street and the entire suburb of Woolloomooloo. Other projects due for completion in the short term in the east include the 87-apartment The Residences overlooking Hyde Park and being developed by Cbus Property and also Dominion, a 110-unit luxury apartment project being developed by Hilliers and Cbus Property
Within the southern precinct three projects are currently under construction including Parkview’s Inmark Tower, a 37-storey tower on George Street, which will have 217 apartments and is anticipated to be completed shortly.
This precinct is defined as south of Bathurst Street from Darling Harbour to Hyde Park, south of Liverpool Street (between Elizabeth and College streets), west of Wentworth Avenue, west of Elizabeth Street to Cleveland Street, north of Cleveland Street (between Elizabeth and Abercrombie streets), Broadway to the corner of Pitt and Hay Streets, north of Hay Street and west of Harbour Street.
The biggest CBD apartment project still selling off the plan is Fraser’s $2 billion Central Park project off Broadway. The first batch of 228 apartments, priced between $460,000 and $1 million, was sold off the plan within six weeks of being released in August 2010 followed by a second batch of 100 apartments released in October 2010 and a third batch of 150 apartments released in December 2010, with prices  between $610,000 and $1.25 million. Upon completion Central Park will comprise about 1,900 apartments, student housing, a hotel, a 16,000-square-metre multi-level retail centre and a 75,000-square-metre commercial office campus.
Colliers expects median apartment prices to continue to rise in the long term due to the scarcity of development sites.
As the new projects around Hyde Park and in Darlinghurst and Woolloomooloo settle in the coming years new price benchmarks are anticipated to be set.
Take-up rates from overseas-based buyers may decline in the short term while prospective purchasers wait to see if the strength in the Australian dollar is maintained.
However, the Sydney CBD’s demand drivers and limited development opportunities are likely to ensure this is a short-term trend.
“The potential level of future supply will continue to be impacted by the availability of funding and potentially some projects may not commence construction.  Future development prospects remain most prevalent in the southern precinct due to a number of brownfield sites,” Colliers says.
For advice on buying off the plan, download our free e-book. 
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Inner Sydney running out of space for off-the-plan developments

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3 Evans Street, Belmont, VIC, 3216
<img src="/images/stories/evansst.jpg" style="border-style: initial; border-color: initial;"> 
This three-bedroom property in the Geelong suburb of Belmont is tenanted at $18,200 per year until January 2012, and sold at auction on Saturday, November 5 for $379,000. There were three bidders. Listing agent Phillipa Gartland of <a target="_blank" href="https://www.gartland.com.au/index.cfm?pagecall=property&amp;propertyID=1878081">Gartland Real Estate</a> marketed the property with price hopes of about $370,000 plus (the vendor recently declined an offer of $350,000). That reflects a gross rental yield of 4.8%, which is at the indicative gross rental yield for Belmont houses, 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 house is within walking distance of High Street shopping precinct and is a 15-minute drive to the coast. <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 $6,000 and over five years to be $13,000. 
For more information about prices and yields in Belmont, see the <a href="/news">RP Data suburb page</a>.
For more investment prospects going to auction this weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
 
14/14 Crimea Street, St Kilda, VIC, 3182
<img src="/images/stories/crimeast.jpg">
The tenant of this one-bedroom St Kilda apartment is paying $265 per week and is on a month-to-month lease but is keen to stay. It sold in post-auction negotiations for $301,000 after being passed in at $275,000. Listing agent Rohan White of <a target="_blank" href="https://www.buxton.com.au/">Buxton Real Estate</a> marketed the property with price hopes of $270,000 plus before auction and says it would be perfect for investors. The sale reflects a gross rental yield of 4.6%, higher than the indicative gross rental yield for St Kilda units of 4.1%, 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 is within walking distance of trams, Windsor train station and Albert Park. <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 $5,000 and over five years to be $14,000. 
For more information about yields and prices in St Kilda, see the<a target="_blank" href="/news"> RP Data suburb page</a>.
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20 Betts Street, Parramatta, NSW, 2150
<img src="/images/stories/bettsst.jpg">
All five units in this block are tenanted, and their combined rent brings in $92,040 in total gross income per year. All five are two-bedroom units and include internal laundries. All but one are on month-to-month leases, according to <a href="https://www.randw.com.au/119011/" target="_blank">Richardson &amp; Wrench</a> agent Abraham Gench. The property was passed in at auction on a bid of $1.81 million on Saturday, November 5, and has a reserve of $2.1 million. If it sells for $2.1 million that would secure an investor a gross rental yield of 4.4%, slightly less than the indicative gross rental yield for Parramatta 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. Council rates are $4,273 per year for the property, and water fees are $5,502 per year. The property is only a short walk to Parramatta city centre. <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 $45,000 and over five years to be $145,000. 
For more about yields and prices in Parramatta, see the<a target="_blank" href="/news"> RP Data suburb page</a>.
 
 
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Weekend Yield Watch: Gross yields of 4.8% in Belmont

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With only eight weeks left in 2011 it is imperative to begin planning for the new year because those who are thinking of selling in February/March 2012 are thinking about it now. Many of our top-performing agents have set a goal to book in a minimum of five auctions for February before they go on holidays in December. This is an excellent attitude that will set them up for a terrific start to 2012 with great exposure in the marketplace.
The past few weeks have been a big test for the Sydney residential real estate market, which has held up relatively well. Given Cooley Auctions’ reach in the market place and our diversified client base we get to experience firsthand any confidence shifts in bidding and selling activity. We believe the shift is tightening to what we have already seen. One-off results and out-of-line sales do not determine a moving market. Days on market and clearance rates are a key indicator of market confidence, and we need to build confidence in the Sydney market. Our first interest rate cut since Melbourne Cup Day 2010 is good news for the industry. For the first time this year our clearance rate dropped below 50% for the month and the past three weeks have seen an on-site auction clearance below 50%. We are also seeing properties taking longer to sell and therefore days on market increasing.
So the question we need to ask a seller is how we differentiate their home from others on the market? Professional marketing and the urgency of an auction provides more reach in a marketplace and reduces days on market. Don’t be hard on yourself, be hard on the market. Properties are on the market to be sold. Trust is a key factor in a seller’s decision to accept an agent’s advice and trust is a key factor in the buyer’s decision to bid or sign a contract. So the real question is: do your clients trust you?
Market highlights
Residential sector
<ul>
<li>A two-bedroom semi with potential to extend and renovate (STCA) at 33 Noble Street, Five Dock sold for $890,000 through Shane Howley, Ray White Five Dock. Auctioneer: Charlie Powell </li>
<li>An original single level-home on a sundrenched 570 square metres approximately at 26 Eyre Street, Chifley sold for $900,000 through Cameron Airlie, Ray White Maroubra, South Coogee. Auctioneer: Ricky Briggs</li>
<li>A single-level home set on a generous 790-square-metre block with deck and landscaped pool at 14 Saunders Bay Road, Caringbah South, sold for $930,000 through Vanessa Gilbert and Chris Murray, Greg Gilbert Real Estate. Auctioneer: Andrew Cooley</li>
<li>An ultra-chic sun drenched north facing penthouse at 56/1 Murray Street, Pyrmont sold for $2,105,000 through James Crow, Morton &amp; Morton Real Estate. Auctioneer: Damien Cooley </li>
</ul>
Damien Cooley is the founder of <a target="_blank" title="Cooley Auctions" href="https://www.cooleyauctions.com.au/">Cooley Auctions</a>
 
 
 
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You must plan now if you want to sell in early 2012

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With this week’s RBA interest rate cut, I found myself pondering on the impact this may have on the “property clock”. 
We’ve all heard the old saying that “property runs in seven-year cycles”.   While I agree property does run in cycles, the fact is we can’t make a generalisation for the entire property market and cycles vary in length. There is not one property cycle, but many. We need to study the areas we are interested to invest in to get an understanding of its individual property clock. In addition to micro events that will affect a cycle  like the opening of a new supermarket in the area for instance (the effect is an increase in jobs and people wanting to live there), there are also macro events that impact on the cycle.  An obvious example is the impact that the GFC had on property cycles. 
Part of my research process is to track specific postcodes in the areas we develop in closely. I collect the quarterly median price growth data and put it into a graph. I like to see a visual of what’s been happening.  So looking back on one of my graphs, I can see a distinct peak in growth that started in 2002 and continued through 2003.  Since then, we’ve seen this area’s median price plateau, and then small incremental growth spikes occurred, until a larger one in 2009 as a result of the government’s first-home owners grant, which enticed more sales. From 2009 until now, there has been some decent growth. In the past 12 months to August this postcode grew by 8.92% and right now the first-home buyers are back in the market encouraged by the RBA’s rate cut. This rate cut is physiologically representative of far more than the 0.25% cut we received.  We’d been told for a year or more to expect more rate increases. This had everyone sitting on their hands, and even saving while they watched and waited. Now the RBA goes the other way and a big sigh of relief blew over the country. 
If we now take a look at the Property Clock below, and I relate it to this particular postcode in the Hunter region, then I can guess that we’ll see some substantial growth in the median price soon.
<img src="/images/stories/jochiversnov3.gif"> 
Why?  Well this suburb (keep reading and I’ll reveal its name) has a very strong rental market so yields are increasing and there is an undersupply of rental properties. I’m expecting to see more investors coming into this market once they realise the strong returns.  You see the median price is just $238,000 and the median rent is $280 per week.  But Property Bloom completed projects in this suburb rent for $380 per week. 
I believe the Lower Hunter Region is around the 7.30 stage of the clock.  There is not a shortage of stock yet but the very good properties are selling quickly.  And there is certainly a new dwelling stock deficiency here. 
A Property Bloom development will typically takes 12 to 18 months to complete, and during this time demand is likely to strengthen and rents to continue increasing (due to limited rental stock).  And if we do see more rate cuts, then I believe we will move to 9 o’clock very quickly. So it is a great time to be developing and adding value to property. If you time it right, you can create some good equity then ride a wave of capital growth. 
Add to the mix the government’s NSW home builder bonus scheme, which waives stamp duty on off-the-plan purchases of new homes up to the value of $600,000 and on land up to the value of $400,000.  <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/nbb/">This bonus</a> is due to stop July 2012, so do not waste time if you want to take advantage of this bonus.
Savvy investors are always one step ahead of the general market. You can make an educated call on when you enter the market by studying the property clock – so are you savvy or mainstream?  By the way, the suburb I’ve been talking about is Cessnock.
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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Learn where your region sits on the property clock before you begin your development

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Developer Mirvac has sold more than three-quarters of the apartments in its latest Docklands residential tower, Yarra Point.
As of September 30, 2011, Mirvac had sold 77% of the apartments in the $200 million, 31-level tower off the plan, with a combined value of $140.1 million.
In its quarterly report, Mirvac said its new release projects are “at the right price points in the right locations”, with 54% of its 2012 financial year lot sales secured by settlements and exchanges. 
In total Mirvac secured 395 lot settlements over the three-month period and says it is on track to achieve 1,800 lot settlements for the 2012 financial year.
The Yarra Point sales figures show residential investors have not been discouraged by a spate of media reports criticising the Docklands development for its lack of community feel, with one describing the precinct as a “purpose-built suburb hugger-mugger with tower blocks and affluence, but lacking heart and soul”.
Yarra Point is located in Yarra’s Edge, the section of Docklands south of the Yarra River, being exclusively developed by Mirvac. 
The $2 billion, 14.5-hectare master-planned site is home to six completed apartment towers comprising more than 750 apartments and 39 river precinct homes. 
Yarra’s Point will feature 201 one-, two- and three-bedroom apartments with prices starting from about $500,000. Construction has commenced, with settlement due to occur in 2013. 
Mirvac has previously sold out all five of the already completed towers as well as its top-end river precinct homes.
It has also received 8,000 registrations of interest ahead of release of its Harold Park project in Glebe in Sydney’s inner west, a master-planned community, which will comprise up to 1,250 new homes on the site of historic Sydney race track.
Mirvac acquired the 10.5-hectare site from the NSW Harness Racing Club last December, with the first phase of 296 apartments and strata-titled terraces set to be launched for sale off the plan this month.
For advice on buying off the plan, download our free e-book.
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Docklands development Yarra Point three-quarters sold as Mirvac says the price is right 

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As developers it’s our duty to play our part in Victoria’s economic rebuilding, and restoring affordability for home owners is the first step in this process.
The affordability equation will now be further assisted by the RBA dropping interest rates by 0.25%. The average household will save just under $50 a month on a $300,000 mortgage.
Melbourne’s recent property price correction of roughly 5% to 10% helps restore affordability, coupled with yesterday’s interest rate drop, which  is equivalent to about a 4% drop in monthly mortgage repayments.
It’s now the responsibility of Melbourne’s developers to maintain this affordability and use the rate drop to further improve economic confidence and restore a healthy demand for housing, rather than use it as a chance to push prices up once again.
We’ve seen from experience that once new land allotments reach that $200,000 price bracket, it breaks through the barrier of what the average consumer deems affordable.
Rory Costelloe is executive director of <a target="_blank" href="https://www.villawoodproperties.com/">Villawood Properties</a>, a Melbourne-based developer that controls a land-bank of over 16,000 allotments across the eastern seaboard of Australia.
 
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