<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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NSW Treasurer Mike Baird will consider the Sydney Business Chamber proposal that City of Sydney rates fund the necessary light rail and the ferry services for the Barangaroo development.
Lord Mayor Clover Moore says she yet to consulted about the plan, which she suggests would put other planned city improvements in jeopardy.
Sydney Business Chamber executive Patricia Forsythe suggests that procuring council rates through a special act of Parliament could fund <a href="https://www.propertyobserver.com.au/news/barangaroo-must-proceed-even-with-wynward-woes-lord-rogers/2011070750739" target="_blank">public transport to the site.</a>
Public transport is traditionally funded by state, not local government, so Moore has suggested without those rates, the council’s capacity to offer some $180 million to fund its preferred transport initiatives would be called into question.
“Our promise to the government of $180 million for transport and light rail in the CBD included rates forecast right across central Sydney,” Moore says.
Sydney Business Chamber executive Patricia Forsythe says getting transport right for Barangaroo is “the next big challenge”.
She told SMH reporter Josephine Tovey that in an era where credit was tight, where funds becoming available for infrastructure are not as freely given as they were in years past, it is necessary to find  a solution ensuring that transport remains a number one priority.
Construction has recently started on the Barangaroo project, which has been estimated to net $7 million plus annually for the council in rates on completion.
Earlier this year the Barangaroo project's lead architect, Lord Richard Rogers, affirmed the project ought to proceed despite any public transport deficit surrounding the project.
“You have to go ahead, even without it, as otherwise the precinct will be even less sustainable,” Rogers said in an interview proceeding the release of the NSW Auditor-General's report that suggests an extra 13,000 commuters a day would pass through Wynyard station to get to work at Barangaroo within a decade.
The Auditor-General's report highlighted the transport challenge of delivering 22,700 people to Barangaroo, with the former government lacking any specific transportation initiatives.
“It was a pity they [the Labor government] haven’t done more and I hope [the Coalition government] go ahead now, especially with the light rail,” Rogers says.
He says all he could assume was if the density were increased “then ideally a visionary government will put the public transport”.
“It will all help – using the harbour more would be wonderful. I don’t understand why it’s used so little,” he said.
Rogers describes the renewal of the 22-hectare stretch of concrete and East Darling Harbour wharves as ''turning Sydney's back door into another front door''.
Rogers says: “You have to fill in the holes.
"This is a classic hole... It's a big piece of concrete on the potentially most beautiful promontory.
"I sense the new NSW government is very pro strengthening the city," Rogers says.
A report by The Australian in June indicated the new NSW Treasurer, Mike Baird, who has an investment banking background, was one senior figure in the new government who was an unashamed proponent of Barangaroo as a financial services hub for the Sydney CBD.
"Done well and incorporating community concerns, this is our chance to have the Canary Wharf of the Asia-Pacific," Baird suggests.
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Sydney Council baulks at funding Barangaroo transport links

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The Sydney residential auction market held firm at 54% during its busiest weekend auction since autumn.
There were 600 properties for auction, 200 more than the previous weekend and 2011’s third-highest total.
Of the 442 reported auctions, some 280 found new owners.
Melbourne’s clearance rate was 53% of the 362 auction results reported to the Real Estate Institute of Victoria. The outcome of another 70 scheduled sales was still unknown.
Due to the spring racing carnival distraction, the Melbourne stock level was down by half from last weekend's ''Super Saturday'', when 53% of properties sold.
The dearest sale in Melbourne was a four-bedroom timber cottage on a 460-square-metre Chatsworth Road, Prahran block, which fetched $3,137,500.
Melbourne’s $128 million weekend tally was divided between $97 million of houses at a $659,000 median price and $31 million in units at a $458,500 median.
Dr Andrew Wilson from Australian Property Monitors suggests the Sydney results are a sign of market resilience.
Although the previous weekend’s adjusted clearance rate was 53.8%, having initially been put at 56.3% on the Saturday night tally.
Some $226 million of Sydney property sold under the weekend auction hammer at an $807,000 average. The median price for houses was $862,000, and for units it was $600,000.
Continuing his strong month of sales, the most expensive property sold at auction was a four-bedroom house at Saratoga that fetched $3.5 million through Stuart Gan at PRDnationwide Ettalong.
Buyer activity in the southeast Queensland auction market rebounded, according to Jason Andrew Auctioneers.
The number of buyers registering at auction more than doubled and the number of registered buyers making a bid remained above the year-to-date average.
However the overall clearance rate rose only marginally to 38%, Andrew adds.
“The spike in buyer registrations was an encouraging sign, but that the activity was by and large limited to properties with clearly motivated vendors.
“At one auction of a deceased estate, we recorded a crowd of 40 people with five registered bidders.
“The property sold under the hammer, just above the vendor’s adjusted reserve.
“There are an increased number of buyers who are ready and willing to act, but unwilling to pay a premium.
“This remains a market where serious vendors who want to secure a sale must take note of current market value and adjust their price expectations accordingly,” Andrew suggests.
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Sydney auction clearance rates seemingly holds steady on 600-strong Super Saturday

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There are about 600 Sydney houses and apartments listed for auction this weekend. And the following weekend too.
But those volumes are down by about 8% on last year, according to Australian Property Monitors head of research Yvonne Chan.
There is one fewer auction than initially tallied however, as the Channel 7 Morning Show co-host Larry Emdur and his wife, Sylvie, have withdrawn their redundant Dover Heights residence from Saturday auction.
It remains listed for sale through private treaty negotiations.
Its listing followed their<a target="_blank" href="https://www.propertyobserver.com.au/residential/larry-edmur-says-good-morning-to-breathtaking-cliff-top-property/2011090251402"> recent $6.8 million upgrading to a nearby mansion with dramatic oceanfront cliff-top views</a> over the Pacific Ocean. The Emdurs have owned at Dover Heights since 1994, when they spent $770,000.
They then rebuilt what its McGrath listing agent Bethwyn Richards describes as a contemporary house remaining true to its classic P and O-style heritage. It is set on 417 square metres, whereas the Emdurs’ new home is on 1,062 square metres of cliff-top land.
Based on their nearby purchase price, it had been estimated more than $5 million could be reasonably expected.
But the residence they've just bought was bought from the Moss family who had paid $7.1 million in February 2007, showing the market’s weakness.
Melbourne’s auction tally is lower than last weekend due to the distraction of the Melbourne Cup racing carnival.
This weekend the Real Estate Institute of Victoria has 445 auctions. The same weekend last year had 410 auctions and in 2009 there were 338 auctions.
The number of auctions will increase again with 600 expected next weekend and 850 the weekend after, according to Real Estate Institute of Victoria chief executive Enzo Raimondo.
Melbourne’s year to date clearance rate is now 57% from 22,940 auctions. At this stage last year the clearance rate was 74% from 25,380 auctions and in 2009 there has been 16,555 auctions with an 81% clearance rate.
Last weekend there were 823 auctions with a revised clearance rate of 53% in Melbourne.</body></html>

Larry Emdur withdraws redundant Dover Heights holding from weekend auction

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The total number of active Melbourne apartment projects has fallen below 300 for the second successive quarter in September, a decline of just over 4% from the previous quarter, according to research by Oliver Hume.
The number of active projects is the lowest since the June quarter 2010.
If fully developed – and the majority are expected to be – the 284 projects will deliver about 41,400 apartments over the coming years, compared with about 293 projects and 33,450 apartments in the corresponding quarter 12 months ago.
Oliver Hume defines a “project” as those that are pre-selling off the plan, under construction or completed with available stock
Of the 41,400 apartments, just under 23,000 are in buildings already under construction or completed, with about 12,600 apartments released over the last year.
Five municipalities contain 60% of all metropolitan Melbourne apartment projects. The most active apartment market is still the City of Melbourne with 17,400 apartments, followed by Stonnington and Yarra. Boroondara and Port Phillip round out the top five.
<img src="/images/stories/melbapartments.gif">
The research reveals that developers are building bigger apartment complexes, with the average number of apartments per project now at 157, up 10% from 143 in the previous quarter and from 123 in the corresponding quarter 2010.
The median entry price for one- and two-bedroom apartments is $369,000 and $520,000 respectively, with the price differential between the one- and the two-bedroom units $151,000, up from about $115,000 when records commenced in 2008.
Since 2008, the entry-level price of a one-bedroom apartment in metropolitan Melbourne has risen at an average rate of 3.3% a year, from $335,000 to $369,000.
The entry-level price of a two-bedroom apartment has risen by 5% a year, from $450,000 to $520,000.
Despite the quarterly drop in apartment projects Melbourne remains the “Manhattan” of Australian cities, with the Victorian capital accounting for a record 44% of all Australian multi-unit approvals in 2010-11.
In 2010-11, multi-unit approvals fell just short of 23,800, according to Metropolitan Melbourne According to an apartment market report compiled by Oliver Hume this was almost a third more than the 16,400 approvals granted last year and three times the 6,600 approved in 2005-06.
The rise in apartment approvals in Melbourne is even more noteworthy when set against declining national multi-unit activity, which dropped 11% in the June 2011 quarter compared with the March quarter of 2011 and is now 5% lower than a year ago.
For advice on buying off the plan download our free e-book.
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lschlesinger-FZcF9M3vE6

Melbourne apartment offerings contract from 2010 exuberance

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2/14 Hewlett Street, Granville, NSW, 2142
<img src="/images/stories/hewlett.jpg"> 
This two-bedroom apartment in the Sydney suburb of Granville includes a car space and is tenanted at $340 per week. The lease is currently expired but the tenant is keen to stay on, and a relatively high yield could make the property attractive to an investor. <a target="_blank" href="https://www.runproperty.com.au/buying">Run Property</a> agent Rebecca Hall is marketing the property with price hopes of $285,000 plus. If it sells for $285,000 that would secure an investor a gross rental yield of 6.2%, about the same as the gross indicative rental yield for Granville apartments of 6%, 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 approximately $224 per quarter, Sydney Water rates are approximately $157 per quarter, and strata levies are approximately $479 per quarter. <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000. The property is close to schools, shops and the train station. It was passed in on a vendor's bid of $280,000 at auction on October 29 and is in negotiations. 
For more information about yields and prices in Granville, see the <a target="_blank" 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">
402/2 Jones Bay Road, Pyrmont, NSW, 2009
<img src="/images/stories/jonesbay.jpg"> 
This one-bedroom apartment with Harbour Bridge views is tenanted at $500 per week and includes a car space. <a target="_blank" href="https://www.khoandlee.com.au/properties/505522/details">Kho and Lee Property Group</a> agent Sami Yildiz is marketing the unit with price hopes in the "early $500s", about $510,000 or $520,000 plus. If it sells for $510,000 that would equate to a gross rental yield of 5.1%, about the same as the indicative gross rental yield for Pyrmont apartments of 5%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. <a 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 $13,000 and over five years to be $40,000. The building includes a gym and a swimming pool, and it is within walking distance of Darling Harbour. The unit was withdrawn from auction shortly before it was due to go under the hammer on October 29 and is in negotiations. 
For more information about prices and yields in Pyrmont, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
<hr class="system-pagebreak">
5 Oakton Close, Wheelers Hill, VIC, 3152
<img src="/images/stories/oaktonclose.jpg">
In a cul-de-sac, this two-bedroom, two-bathroom property is tenanted at $380 per week until the end of the year. <a href="https://mcdonaldre.co/details/?pid=503104" target="_blank">McDonald Real Estate</a> agent Brian Grace is marketing the property with price hopes of $585,000 plus, and if it sells at that price it would secure an investor a gross rental yield of 3.5%, about the same as the indicative gross rental yield for Wheelers Hill houses of 3.2%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. <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 $5,000 and over five years to be $12,000. The property is within easy walking distance of Wheelers Hill Secondary Collegeand is close to Brandon Park and Waverley Gardens shopping centres. The property was passed in on a vendor's bid of $565,000 at auction on October 29. It had an earlier bid of $540,000 and had a reserve of $585,000. The property remains for sale.
For more about prices and yields in Wheelers Hill, see the <a href="/news">RP Data suburb page</a>.
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Weekend yield watch: Yields of up to 6.2% in Granville as none of Form Guide properties sell

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So you’ve just received your development application and construction certificate consent and it’s almost time to start building.  Just how long will the construction phase of your development take? Or more importantly, the question is how long before you start making a return on your investment?  I guess this is like asking, how long’s a piece of string?  Because the answer will depend on many factors:
-   The number of dwellings you are building – single house or multi-unit development?
-   The type of construction process: slab and brick, timber floor and walls, partially prefabricated materials, etc.
-   The size and degree of difficulty of the structures
-   The weather: how many rainy days will delay progress?
-   Material and contractor availability
-   The builder’s ability to manage his contractors – his relationship with his trades and communication skills
-   The knowledge and experience of those managing the project
-   Any issues that may arise during the development process i.e. hitting rock when excavating
Generally speaking, the build phases on Property Bloom projects range from a dual occupancy being completed within four months to a four-villa project being completed in six months.  Our granny flat developments are only two months from receipt of approval to completion of building works.
Now you have an idea on how to estimate your build time, is there a way you can save on holding costs too?  The answer is yes and it’s all about analysing your building drawdown schedule.  A simple revision to a builder’s drawdown schedule can end up saving a considerable amount of money in interest holding costs.
Typically, my builder’s drawdown schedule would go something like this for a dual-occupancy development:
Deposit – $5,000 due when signing the tender (before DA is lodged)
Slab less deposit paid – 20%
Frame and trusses – 20%
Lock up – 25%
Mould out – 25%
Completion – 10%
By requesting a change of just a few percentages over each phase we can save thousands of dollars for our clients.  This was our proposed change to the schedule:
Deposit – $5,000 due when signing the tender (before DA is lodged)
Slab Less deposit paid – 15%
Frame and Trusses – 20%
Lock up – 20%
Mould out – 25%
Completion – 20%
This is a much better schedule for our clients as there is more to be paid towards the end of the build.  Not only does this save on interest costs, but it keeps the builder ‘in the game’ as there is more for him due at the back end of the build.
If I was really good at maths, I could calculate the exact amount saved be tweaking the percentages....but alas, I’m not that clever.  So here is a challenge for all you clever readers...
Assumptions:
Build cost and construction loan is $500,000,
Total build time frame is five months from slab down.
An equal amount of time between each phase, although not likely, just to make it easier to calculate.
Interest rate 7%.
Can you tell me what would be the difference in interest payable for each scenario?  I look forward to hearing from you. Please email your answers to: <a href="mailto:jo@propertybloom.com.au">jo@propertybloom.com.au</a>
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
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The amount of time a development takes will vary

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Property developer Stockland is upbeat about the outlook for new residential housing after it achieved 499 net deposits in September for its residential community projects out of a total of 1,092 deposits taken for the three month to September 30.



The September result was the best monthly result since October last year and follows Stockland’s annual spring marketing campaign.



The figures reflected strong sales in recently launched projects at <a target="_blank" href="https://www.stockland.com.au/home-and-land/vic/allura.htm">Allura </a>in Melbourne, <a target="_blank" href="https://www.stockland.com.au/home-and-land/qld/vale.htm">Vale </a>in Queensland and<a target="_blank" href="https://www.stockland.com.au/home-and-land/wa/whiteman-edge.htm"> Whiteman Edge </a>in Perth. In addition, Stockland says there is “strong interest in its Brooks Reach development in NSW, to be launched next week. 



“Improved momentum has continued this month and while two months doesn’t represent a trend, the figures are encouraging,” the developer reported at its AGM in Sydney.
It also highlighted a “positive shift in market sentiment”, which started in late August, “particularly in the key south-east Queensland market, which was soft following the floods earlier this year”. 
Stockland says the Queensland government $10,000 Building Boost Grant (available to anyone building or buying a new home in Queensland under $600,000 between August 1, 2011 and January 31, 2012) had improved sentiment and activity in this market.  



“While sales in Victoria are down from the very high levels of a year ago, they seem to be stabilising,” it adds.



Managing director Matthew Quinn says the first-quarter figures firstly demonstrate a recent general improvement in customer sentiment and buying activity at Stockland projects and secondly shows that the focus on high-quality, affordable products is bearing fruit with outperformance against key benchmarks.  

“Our goal is to cater for diverse groups [of customers], providing affordable housing solutions built around community hubs with high-quality retail centres, social infrastructure and employment generating facilities,” he told shareholders.
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September uptick for Stockland residential offerings

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A new development in the western Melbourne suburb of Maribyrnong is two-thirds sold three months after marketing began, mostly to investors.
The 27 apartments in the complex comprise three one-bedroom and 24 two-bedroom units, some with one bathroom and some with two. Nine units are left, all with two bedrooms. All 27 have car parks.
One-bedroom units are 51 square metres internally (plus eight-square-metre balconies) and ranged in price from $369,500 to $379,500. Two-bedroom apartments range in size from70 to 83 square metres internally (plus 12-square-metre balconies) and are priced between $475,000 and $535,000.
<img src="/images/stories/tropezinside.jpg">
Avion Properties director Phillip Osmond says the company began marketing the units about three months ago but did not have an official launch date.
Osmond says about 60% or 65% of the sales were to investors and adds that the area has a strong rental market.
“You got Victoria University within walking distance, Highpoint’s only walking distance, and it’s only seven kilometres from the CBD,” he says.
Avion Properties estimates that unit 202, a two-bedroom apartment priced at $480,000, would rent for between $455 and $465 per week. That would secure an investor a gross rental yield of about 5%. 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. According to RP Data the indicative gross rental yield for Melton apartments is 5.4%.
Tropez is within the Riviera Estate, which primarily comprises house-and-land packages but also includes several other unit developments.
Osmond says construction will begin in the next two to three weeks and is due to be finished by late 2012.
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Maribyrnong development Tropez two-thirds sold

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Sydney just pipped Melbourne during the neck-and-neck auction clearance rate race, with a 56% weekend clearance rate compared with Melbourne's 55%. But both results are still with the stewards, given an unusually high rate of unreported results. There are 165 results yet to be notified to Australian Property Monitors, of the 399 scheduled auctions in Sydney. Melbourne awaits 114 results of its 740 scheduled tally by the Real Estate Institute of Victoria, and initially the REIV had suggested there would be 875 auction results.
Even the reported Sydney results are seriously wanting because 64 of the published outcomes give no price outcome. Fair enough for the 14 withdrawn and/or no-bid auctions. But there were 34 passed-in results across Sydney where the agents have declined to give the passed-in price, and a further 16 sales where the price has been withheld from publication. And auctions are supposed to be an open transparent process?
Much attention was accorded to the $1 million-plus markets in both cities, especially after Melbourne buyers’ agent Mal James noted there were 150 in his bailiwick.
Given the Melbourne volumes were the highest since the pre-Easter rush, Saturday was dubbed Super Saturday. (Sydney's is next Saturday.)
But the superlatives didn't flow following the results, with indeed the headlines suggesting it was so-so, in a stupor or simply sucked.
James notes the Stonnington municipality had a 35% success rate above $1 million; the bayside suburbs were 45%; Port Phillip was 22% with the leafy east Boroondara the best-performing precinct at 65%.
There were only 20 known $1 million plus offerings in Sydney, and APM shows 16 selling.
The overall 56% Sydney clearance rate for houses and apartments mirrored the 56% of the same weekend last year.
But the 400 number was down by about 20% on last year, according to Australian Property Monitors research analyst Clinton McNabb.
Melbourne's clearance rate was well down on the 67% on the same October weekend last year, when 1,120 properties went to auction.
Melbourne volumes ease next weekend, given the spring racing carnival, to just 445 auctions.
But Sydney jumps to 600 plus for the last weekend in October. This falls short of Sydney's record 670 weekend in September 2009, the biggest auction day in the state's history. The 2009 record day was a combination of circumstances – the influx of early spring listings after inactivity for much of the previous 18 months after the global financial crisis; good weather; vendors getting in before the October long weekend and school holidays interruption, and also it was the last weekend before the First Home Owner Boost started to phase out.
Melbourne typically can have five or so 1,000-plus auction weekends but doesn't look like it will be getting one in 2011.
Melbourne's biggest auction day, with a record 1,400 properties, was in March 2008.
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Weekend auction wrap: Where the hammer fell

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With almost 900 auctions this weekend, 150 of which were properties above $1 million, it was clear that not all properties were going to attract competition. 158 Napier Street, South Melbourne was one of these properties, as a very small crowd looked on as the property was passed in on a vendor bid of $1.3 million. A negotiation commenced after the auction, with a sold sticker appearing on the board shortly after. 
Many tippers on <a href="https://www.propertytycoon.com.au">www.propertytycoon.com.au</a> predicted a stronger price with an average tip of almost $1.4 million. This result shows us that as supply grows in a spring market we see more opportunities to buy well. 
On the upside for the vendor, who only paid $300,000 for the property, it has shown a solid growth rate of almost 9%.
<img src="/images/stories/napierst.jpg">
<a href="https://www.propertyobserver.com.au/auctions/weekend-auction-tipping/2011101951997" target="_blank">168 Napier Street, South Melbourne </a>
Sale price: $1,300,000
Agent quote: $1.3 million to $1.35 million
% above agent quote:  0%
Bidders:  0
Last sold: June 1994 at $300,000
Growth since last sale:  8.82%
Median growth: 8.39%
Average tip: $1,419,305
% Correct tips  7.32%
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