<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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On March 30, 2010 Twitter introduced trending, which enables users to see why a specific topic got to be a trending topic. Wikipedia describes “a trending topic is a word, phrase or topic that is posted (tweeted) multiple times on the social networking and microblogging service Twitter. Trending topics become popular either through a concerted effort by users or because an event that propmpts people to talk about one specific topic. These topics help Twitter and their users to understand what is happening in the world”.
It did not take long for Google to jump onto this modern-day phenomenon when it launched Google trends. When our Australian parliament sits Question Time #QT is a very popular trend, where anyone wanting to make a comment about what is happening joins in the conversation. Trending is the new go-to word to best describe an event that in turn shapes our opinion(s).
Next week’s inflation numbers will determine the Reserve Bank of Australia’s next rate move – the RBA has had a difficult task in 2011 balancing the cash rate given its projections that Australia faces elevated inflation over 2011, 2012 and 2013. So a string of good data might stop RBA from cutting rates, although the RBA has concerns for our subdued housing market. So when the inflation data is released this will become a trending topic as to what can be expected when the RBA the following week meet to discuss the cash rate – which in turn will become another trending topic.
It is little wonder that our politicians have concerns about the rise and rise of social media, where more often than not the social commentators can be scathing at their actions – #stoptheboats, #apple4S, #property, #stevejobs, #realestate, #carbontax, #auspol, etc.
It is just not social networking that is shaping our opinions online shopping keeps setting new records each month and it is just not because of the strong Australian dollar. The Australian Bureau of Statistics recently revealed that the total value of goods and services sold by Australian online stores in 2009-10 was $143 billion. This figure was up 15% on the previous year, and one would expect that this would be significantly higher again once the 2010-11 figures are released.
A recent report Australia – Digital Economy – E-CommerceTrends and Statistics – revealed “While Australia has experienced rapid growth in online shopping; the lack of local big brand retailers selling online is enticing shoppers to buy from overseas competitors. Industry commentators say Australia is several years behind the US and UK, and Australian consumers are voting with their wallets when it comes to shopping online. “
“ Meanwhile in early 2011 about 25% of mobile users are shopping online with their mobile, with eBay reporting that an item is bought every 15 seconds. The online economy is booming for some online markets with revenues up 40% in 2010.”
So it appears that today our decision making process hinges significantly on what is trending. This would explain why our business confidence trending in Australia is all over the place given we are suffering from information overload.
So what are the most popular online marketing trends in 2011?
Mobile internet usage
Online video
Twitter
Businesses actively pursuing facebook
Blogging
It is the mobile phone network that is the most completive, and BlackBerry’s outlook in Australia is looking not so bright (who would have thought?). The corporate market in Australia is pure gold, and the latest release by Apple with its iPhone 4S looks set to set new phone records. Last week BlackBerry customers in Europe, the Middle East, Africa, Latin America, Canada and the US lost emails and messaging for almost four days. Historically the BlackBerry has dominated the Australian smartphone market – although with the 4S release this should become the Australian market leader.  Telstra’s new 4G network is boasting internet speeds 25x faster than the previous 3G so the phones with the most apps – another trending example.
The online technology market in Australia today resembles a debate much like that of Holden versus Ford (which both now offer the latest technologies in their vehicles).
Today there is anecdotal evidence that some brands are being disconnected by consumers, so keep watching the trending – it’s fascinating unless you’ve been disconnected. I’m not surprised as many have been saying this would happen for years, whenI remember a quote back in 2000 – “Get e-based of get e-rased.”
Many Australian businesses are guilty of “I hear what you’re saying, but I’m not listening”.
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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robertsimeon-hRNTwJyXkQ

Real estate businesses must make the most of the web or be left behind

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Developer Australand has released the fifth building in its materplanned Discovery Point development, about 10 kilometres from Sydney CBD, following strong buyer demand for the fourth stage.
<img src="/images/stories/discovery2.jpg">
Arc is the latest building to launch in the development, which is in Wolli Creek, and comprises 88 units, of which 31 have been sold. Of the ones remaining, 24 are one-bedroom units, 29 are two-bedroom units, 13 are  two-bedroom units with studies, and one is a three-bedroom penthouse. Arc launched on September 26.
It follows the success of stage four, called Linc, where 102 of 126 apartments sold within 24 hours of the official launch.
Arc’s one-bedroom apartments are priced from $405,000, two-bedrooms are priced from $610,000, and the penthouse has an $800,000 price tag.
<img src="/images/stories/discovery3.jpg">
Discovery Point includes many outdoor leisure areas around the Cooks River foreshore and Discovery Point Park.
Australand NSW general manager of residential Nigel Edgar says the outdoor lifestyle and the convenience of transport options have struck a chord with buyers.
“The extremely convenient location just five stops from the CBD by train, coupled with a high-quality, low-maintenance apartment means that apartments at Discovery Point have had a consistently low vacancy rate,” Edgar says. “This is reflected in the high percentage of apartments bought by investors.”
<img src="/images/stories/discovery4.jpg">
Each of Arc’s apartments will include a balcony with full-height glass sliding doors for climate control, and Edgar says sustainability and convenience are big considerations for the developer.
“Australand is responding to demand for new apartments close to the city that embrace sustainability initiatives and take advantage of established transport links and infrastructure,” Edgar says. “Discovery Point’s success to date reflects our infill development experience in delivering quality masterplanned residential product at an attractive price.”
For advice on buying off the plan download our free e-book.
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cknowlton-QnEa6ntUYP

Sydney Discovery Point development launches fifth stage after previous successes

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It was like any other Toorak property auction.
Indeed five of the attendees drove off in silver Mercedes.
But as Justice Tim Ginnane noted, the occurrence had considerably greater significance than of merely displaying the buying patterns of particular prestige property consumers.
Bidding had stopped at $2.1 million at the RT Edgar onsite auction, with a $2.6 million vendors' reserve.
The top unsuccessful bid had been placed by an undisclosed associated party of the Toorak plastic surgeon and neighbour Dr Chris Moss and his wife, Andrea John.
The couple also had another undisclosed associated party, who sought to make post-auction offers.
The underbidder who resided opposite on Toorak Road, Tom Kartel, had also hovered after the auction, having had his pre-auction $2 million offer declined.
There was much toing and froing by the agent, Greg Herman, with discussions with interested parties and the vendors.
After the auction, Herman went and spoke to Kartel, who was standing next to his silver Mercedes. Kartel indicated he wasn’t prepared to go higher and at $2.35 million not at all.
A bid was made on behalf of the doctor at $2.4 million.
The agent then advised he had already received an offer of $2.6 million. Pressed, he said it was from the underbidder who'd been seen driving a silver Mercedes.
Herman gave evidence that John asked him many times what the bidder’s name was. She placed him under considerable pressure. He said that he was reluctant to give the bidder’s name, because of privacy considerations. Herman gave evidence that he eventually plucked the name “Tom” at random, because John was screaming. He could have selected “Dick” or “Harry”. He said that Tom was driving a silver Mercedes, because that was a common car in Toorak.
Moss was advised that “Tom” the underbidder wearing a pink shirt, had been through the property many times and was thought to be a property developer. Herman told Moss that he had received the offer from “Tom” after the auction by a telephone call received on his mobile telephone.
Herman stated that if Moss did not buy the property, “Tom” would.
John showed Herman a photograph of Kartel on her iPhone and said, “Is this Tom in the pink shirt?”
Herman said, on his evidence to placate her, either “yes, it could be” or “yes”.
She asked him, “Is this his car”? and again he said, “yes” or “it could be”.
Herman said that he was colour-blind and did not recognise pink.
The doctor then offered $2.7 million, which was accepted.
Moss then attempted to write into the special conditions that “you’ve had an offer from the guy in the silver Mercedes” in the contract, but Herman stopped him, stating “Don’t do that. The lawyers won’t like it that, we can’t alter contracts.”
Moss told the court he said to Herman: “Greg, do you give me your absolute word that you received an offer of $2.6 million.” Herman said that he did.
As Ginnane noted,  "the outcome of the auction may well have ended there had not events intervened."
By chance, the doctor’s wife saw the underbidder driving past the property in a silver Mercedes a short time after the contracts had been signed.
She flagged him down then knocked on the window.
She asked him how much his final offer was, and he told her that it was $2.2 million.
She stated that “we’ve been told that you’re a Greek developer and you offered the property of $2.6 million”.
Kartel denied that that was the case.
And then it was on with proceedings started in March 2010.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/plastic-surgeon-wins-court-case-against-deceptive-toorak-estate-agent/2011102052011">It ended up in a 14-day trial in the Victorian County Court with Ginnane ruling the property was only worth $2.5 million and he awarded Moss the $200,000 difference.</a> The couple had claimed damages of $475,000.
The purchasers won their claim that they were misled and deceived into bidding $2.7 million by a representation that a person identified as “Tom” had made a post-auction offer of $2.6 million, when in fact that was not the case.
The vendors submitted that they had not themselves engaged in misleading or deceptive conduct, which Ginnane accepted.
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jchancellor-FAypfDUnLy

Deceptive Toorak auction aftermath - and the silver Mercedes that almost got away

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A surprisingly high number of home owners sell then revert to renting, never to own again, says Professor Gavin Wood, director of the RMIT Research Centre of the Australian Housing and Urban Research Institute. The study reveals one in five home owners dropped out of ownership at some point during the period 2001 to 2009.
Using data from the Household, Income and Labour Dynamics in Australia survey, Wood tracked the housing histories of thousands of Australians over nine years from 2001.
During that time 1.65 million “episodes” of home ownership were terminated as people moved into rental housing. Among people under 50, the “survival rate” in home ownership was 77%.
“On the face of it these figures suggest a higher proportion of Australian home owners are precariously perched on the margins of home ownership than in the past,” Wood says.
He maintains the idea that housing careers progress smoothly from leaving the parental home through renting and then into ownership, with low housing costs matching lower income post-retirement, is losing its relevance in the 21st century.
“It's no longer necessarily true that buying a home sets you up for life,” says Wood.
He says it was not clear why so many fell out of home ownership but financial pressures and high housing prices had played a part.
It was noted while just over half the Australians later moved back into the property market, many became reliant on rental assistance or public housing.
The former owners who did not return quickly to the property market were more likely to enter public housing or qualify for Commonwealth rent assistance than long-term renters, the report suggested.
This suggests they were precipitated out of home ownership by adverse circumstances”' Wood says.
The report noted Australia had a healthy private rental market compared with Britain, allowing people to move more freely between ownership and renting rather than clinging on in penury to their homes.
The relative ease of renting in Australia might also be a factor in the low mortgage default rates. “People sell up before it gets to that point,” Wood told SMH reporter Adele Horin.
As a step towards lowering housing prices he suggests replacing stamp duties with a broad-based land tax, and establishing an income-tested housing allowance that would go to struggling home owners as well as renters, and abolishing subsidies for first-home buyers.
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One in five home owners quit property ownership, some not to return: Academic

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33 Charles Street, Brunswick, VIC, 3056
<img src="/images/stories/charlesst.jpg"> 
This two-bedroom house in the inner-Melbourne suburb of Brunswick is close to Sydney Road shops, Princes Park and transport links. <a target="_blank" href="https://www.tre.com.au/property.cfm?propertyID=1862600&amp;realestate=33_Charles_Street_BRUNSWICK_VIC_3056">GA Thomson </a>agent Jason Sharpe  has done a rental assessment on the property and estimates that it would rent for the "mid $400s". The property sold under the hammer for $623,000 in an auction with five bidders on Saturday, October 22. Its reserve was $570. If the new owner rents it out at $450 per week this would be gross rental yield of 3.8%, higher than the indicative gross rental yield for Brunswick of 3.5%, 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 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 $13,000.
For more information about gross rental yields and prices in Brunswick, see the RP Data suburb page.
For more investment prospects that went auction this past weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
137 Meadows Road, Mount Pritchard, NSW, 2170
<img src="/images/stories/meadowsrd.jpg"> 
This two-bedroom property has had a long-term tenant in place for many years, paying below market rent of $220 per week. <a href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=NSW3223144&amp;State=NSW&amp;SBRB=MOUNTPRITCHARD&amp;pcde=2170" target="_blank">Century 21</a> agent Ray Zeait is marketing the property with price hopes of $330,000 plus. If it sells for $330,000 and the current tenants are retained on the current rent an investor would secure a gross rental yield of 3.5%, below the indicative gross rental yield for Mount Pritchard houses of 5.3%, according to RP Data. The median asking rent for the suburb is $390 per week, and that would equate to a gross rental yield of 6.2%. 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 $10,000. The property was passed in at $320,000 at auction on Saturday, October 22. There were two bidders.
For more information about yields and prices in Mount Pritchard, see the <a target="_blank" href="/news">RP Data suburb page.</a>
<hr class="system-pagebreak">
4/89 Crown Street, Tamworth, NSW, 2340
<img src="/images/stories/crownst.jpg">
This tenanted two-bedroom unit in central western NSW could appeal to investors, as it has a high gross rental yield of 5%. <a href="https://www.propertyobserver.com.au/https://www.dcco.com.au/property/details/3739375" target="_blank">Davidson Cameron &amp; Co</a> agent Kylie Walsh is marketing the property with price hopes of $255,000 plus and says the current tenants pay $250 per week. Walsh says the tenants' lease is up but they would like to stay on. 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. Strata levies are $1,775 per annum, and council rates are $1,526 per annum for the property. <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 $18,000. The property was passed in at auction on Saturday, October 22 on a vendor's bid of $225,000. There were no other bids.
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Weekend yield watch: Brunswick sale secures yield of 3.8%

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Little-known Perth-based developer Finbar is making an impressive mark on the face of Karratha in the Pilbara.
The developer, which has made its name developing high-rise apartments with some office space around Perth, is shaping the future of accommodation in the mining boom town.
Its $225 million Pelago project on Sharpe Avenue, Karratha will have 292 residential apartments and 22 commercial lots.
In stage 1 – called Pelago West –  63 apartments have been sold for  $44.5 million. In another deal, nine apartments have been leased to CHC, one of the world’s largest helicopter transport companies. The leases are for five years with 4% or CPI increases annually. The average rent is $1,100 a week, and CHC has agreed to $16,000 per unit for furniture and equipment and the company pays all shire rates, management fees, land tax, water rates and strata levies.
Finbar is offering the nine one-bedroom apartments for sale for $609,300 – which includes a $16,300 furniture package – reflecting a net yield of 9.36%.
Pelago West has 114 one-, two- and three-bedroom apartments with eight commercial lots over eight levels. It is expected to be finished in the first quarter of 2012, and building is running to schedule.
Karratha, which is 1,500 kilometres north of Perth, is the important administration centre for resource companies operating in the region. It has a large population of fly-in fly-out workers, and a growing number of people live there. The WA government has targeted the town as part of its $300 million Pilbara Cities project, which is attempting to create a Dubai-style city in Karratha with satellites in Dampier and Port Hedland.
Finbar was first cab off the rank and is now turning its attention to the second stage of the project, Pelago East.
Regional Development and Lands Minister Brendon Grylls recently announced $30.4 million from the Royalties for Regions fund to build a village for workers in Karratha, including 100 houses to be developed by National Lifestyle Villages.
For advice on buying off the plan download our free e-book.
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Developer Finbar making an impact in WA desert

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This week I created a system.  My aim was simple: to achieve more in less time.
I had decided to set up a meeting with one of my builders.  The builder and I only started working together fairly recently when I introduced this particular type of development earlier this year, and  over a short period of time we were now up to our sixth project.  I knew we could fine-tune our process.  He’d had some recent staff changes so it was the perfect time to gently tell him exactly how I wanted my developments to run.
Before the meeting yesterday I’d prepared a draft procedures document, which was based on the way we had been doing things up until then.
But it wasn’t until I started documenting pretty much everything we did that I realised how much was involved in this somewhat basic development strategy.  What started in my mind as a one-pager has turned into four. It’s funny how we simplify in our minds a process because we’ve done it time and time again.  But when you really break it down in writing, you can see all the fine details.
Using a system or procedure keeps me on track with our projects. I now literally have a written system for everything I do.  It gives me something tangible to show to my clients and helps explain exactly what Property Bloom really does when managing their development.   It’s also an important tool to use when training new staff as they have a documented procedure to follow.
By the end of the meeting with my builder, we had agreed on a three very important changes that will impact the bottom line of my developments;
<ol>
<li>We changed our standard floor plan slightly to make it more cost effective to build, without reducing the size. Now I could offer my clients a cheaper build price that will not impact on the end value or rental return.</li>
<li>We changed the payment schedule so my clients would pay less in the first half of the build phase, saving them valuable holding costs.</li>
<li>We minimised choice to save time. By setting up standard inclusions plus a list of ‘”optional extras” it meant that clients would not feel overwhelmed by choice on fittings, fixtures and colour selections and we could manage this process faster moving to the next step and saving time.</li>
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I was happy with my new system and excited to put it into action immediately and already we are getting more done in less time.  Because as they say – time is money.
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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A systematic plan will help you organise your development

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Price “optimists” still outnumber “pessimists” but the median view is now firmly for no housing price change over the next year, according to the Westpac-Melbourne Institute Consumer House Price Expectations Index.
The house price direction index showed a further cooling in October.
The overall Westpac–Melbourne Institute Consumer sentiment survey showed a slight improvement in October, holding onto September’s 8.1% rebound and edging another 0.4% higher.
However Westpac senior economist Matthew Hassan suggests the overall message is still downbeat and the vibe is “edgy”.
“The index remains firmly in pessimistic territory with the steady monthly result concealing powerful undercurrents pulling sentiment in both directions.”
Responses show a big influence from financial market turbulence – which remains extreme across both equities and the Aussie dollar – and the RBA’s continued shift to an easing bias on interest rates.
The survey detail also showed a mix of improvement – on views on family finances, economic prospects and jobs – and deterioration – on “time to buy” a dwelling, a vehicle or a major household item and on house price expectations.
Consumers continued to show mixed view on housing.
Hassan notes that attitudes towards “time to buy a dwelling” fell sharply by 10.4% in October but this had followed a surprisingly big 15.1% jump in September.
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Consumer sentiment shifts to no house price changes this year: Westpac RedBook

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Austcorp Group’s masterplanned 476-hectare Coomera Waters development on the Gold Coast has been listed for sale with price expectations of between $30 million and $40 million.
The Sydney property development company that built the 71-storey $1 billion Vision tower in Brisbane was placed in voluntary administration in May 2009 with debts of about $550 million.
The estate is located on the banks of the Coomera River, 18 kilometres north of the Surfers Paradise CBD and directly opposite Sanctuary Cove.
Once fully developed, the estate will comprise 1,556 lots surrounding an existing 17-hectare tidal lake, with private recreational clubs, retail and commercial space and a marina.
To date, 1,121 residential lots and six waterfront villas have been completed and sold while a further 47 titled residential lots and two waterfront villas are completed and on the market.
The expressions-of-interest campaign for sale of the balance of residential land, the marina shopping village and marina berths is being co-ordinated by CBRE’s Will Cameron, Mark Witheriff and Lachlan Harris.
The site is being market internationally, with Witheriff expecting the masterplanned residential estate to attract significant interest from both onshore and offshore development groups.
“The estate is located in a strong population growth corridor that is currently experiencing a significant level of urban development,” Witheriff says.
“The area is set to benefit from ongoing private and public sector infrastructure investment and from the future development of the adjoining Coomera Town Centre as a major activity centre.”
A three-bedroom waterfront villa on Kestrel Lane is currently being marketed by Mark Croudace from PRD Nationwide with a price tag of $699,000, and Jason Read from LJ Hooker Coomera is seeking offers of over $700,000 for another three-bedroom villa on the same street.
A further 75 residential lots are approved and are ready for release and construction in two stages, with prices starting from about $260,000 for a 1,130-square-metre block. A further 103 residential lots to be released in three stages have development applications lodged.
CBRE development director Will Cameron says 22 stages of the estate have been completed and sold, while a further three developed stages are available for sale. A further five stages and a number of medium-density parcels in various stages of approval form part of the sale.
“The sale provides an opportunity to acquire income producing assets including Marina Shopping Village, 70 berth marina and commercial offices.  This income will be available as the remainder of the estate is developed,” Cameron says.
“Another drawcard for buyers will be the fact that all the estate’s infrastructure is in place and the remaining development parcels are unconstrained, including a mix of waterfront sites and elevated dry lots with outstanding water views.”
The Marina Village retail commercial precinct comprises 1,548 square metres of retail commercial space and is currently 82% leased.
Expressions of interest close on November 24, 2011 at 4pm.
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Offers over $30 million sought for Austcorp's Coomera Waters Gold Coast development

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Western Australian property developer Port Bouvard Limited has now achieved settled sales totalling $72 million for its Oceanique apartments.
The total follows four recent settlements worth a total of $10.2 million.
Since Oceanique settlements began in July 2010, the group has reduced debt on its $101 million Oceanique facility to its current balance of $34.8 million.
Earlier this month Oceanique was announced as winner of a 2011 Perth Housing Industry Award for apartment project of the year.
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/calmer-waters-for-wa-s-luxury-oceanique-development-as-sales-pick-up/2011101151861">The remaining 30 unsold apartments continue to be marketed.</a>
Port Bouvard continues to pursue seven unsettled off-the-plan contracts.
For advice on buying off the plan download our free e-book.
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