<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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The first two of the six auction offerings that precede the October finale of the Channel Ten series The Renovators have been put to auction. The other four houses also face the auction reality test this week. 
The Century 21 listing agents are under confidentiality agreements until the October 9 auction screening finale. 
And even those who attended the onsite auctions have been asked to keep the prices under wraps. 
The sale amount over the undisclosed reserves goes into the collective prize pool for the eventual winner to keep. 
While the auctions were underway some 803,000 viewers were tuned into the latest elimination.  Melbourne’s audience was the highest at 302,000, followed by Sydney’s 164,000 and Brisbane’s 162,000. 
SPOILER ALERT 
Suggesting Sydney’s spring sales market is a pricing test, both did sell, but barely above cost price. 
The weatherboard, at <a href="https://www.realestate.com.au/property-house-nsw-parramatta-107820796" target="_blank" title="51 Franklin St">51 Franklin Street, Parramatta</a>, was sold at an auction with 100-plus attendees for $575,000. 
It had been bought at $460,500, with stamp duty taking it to $478,000. It had been in the same family for five decades. It is now a modern family home with three bedrooms, two bathrooms with an entertaining space and backyard area. Its renovation budget was $95,000, making the breakeven point before its auction campaign conveyancing costs $573,000.
The 1915 Marrickville offering also sold last night at its onsite auction. It fetched $700,000 in a one-bid auction. After costing $572,000 in March, or $595,000 after stamp duty, the shop, at <a href="https://www.realestate.com.au/property-house-nsw-marrickville-107822406" target="_blank" title="146 Addison St">146 Addison Road, Marrickville</a> was transformed into a three-bedroom, one-bathroom abode. Its renovation budget was $119,000. It had previously sold at $68,000 in 1985.
The Glebe and St Peters properties have also found buyers at their Wednesday night auction. 
<a target="_blank" title="DIY price estimations on Renovators" href="https://www.propertyobserver.com.au/renovating/diy-price-estimates-for-the-renovators-six-offerings/2011091351521">None of the agents would provide price estimations for the properties before auction.</a>
For expert commentary and analysis on lessons to be learnt from property reality TV, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our e-book Lights, Camera, Auction!</a>
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jchancellor-FAypfDUnLy

Channel Ten's Renovators meet reality and ambitiously seek secrecy on Sydney auction results 

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Four blocks totalling 42 units in Bankstown have been listed for October 19 auction.
Set in Sydney’s south west, the offering will be in one line through CB Richard Ellis agents Harry Bui, Frank Oliveri and Peter Vines.
The blocks have already been strata titled.
Their current gross income is $665,000 and their anticipated market rent is $762,000.
The complex has $66,000 operating expenses plus $111,000 in statutory charges, making its annual net operating income $486,000.
Its statutory charges include $33,000 council rates, $45,000 water rates and $32,000 land tax.
Three of the blocks were built in 1984, and one constructed in 2006, with none having undergone any significant upgrades or modernisation.
With rental demand rising in the Bankstown market and rent growth projected by Residex at 5% to 6% a year for the next few years, Bui says the 42 multi-housing collection is “a prime real estate investment opportunity”.
According to Residex, the residential house market in Bankstown experienced capital growth of 11% over the year to June 2011.
The median value for Bankstown units during the June 2011 quarter was $306,000.
The Bankstown residential sales of individual strata-titled apartments have totalled 661 apartments in the past 12 months, with a $239 million total transaction volume at an average of $270,000 to $310,000 for one-bedroom apartments, $300,000 to $360,000 for two-bedroom apartments and $330,000 to $465,000 for three-bedroom apartments.
According to Residex, apartments within the 2160 to 2249 postal code range are forecast to have about 2% to 3%-plus growth a year over the next five years.
“As a broader outlook for the local residential apartment market, we expect apartments in Bankstown to continue to be popular amongst private investors and owner-occupiers,” Bui says.
“There could be further yield compressions for a quality asset in a prime location as there are more first-home buyers and investors coming to the market.”
The median weekly Bankstown rent for a two-bedroom unit is $385 per week.
Its vacancy rate remains tight and rental yield for apartments has outperformed, Bui says.
According to SQM Research, the suburb of Bankstown had a vacancy rate of 0.6% at June 2011.
Its rental yield was 6.45% reflecting a 1% increase over the last decade.
“This offering is a unique opportunity to secure a low-risk investment with very strong foundation for future growth,” Bui says.
“There’s a value creation opportunity and a safe exit strategy. There’s significant scope to enhance capital immediately through various cosmetic enhancements with select interior upgrades,” he notes.
He suggests smaller strata-titled apartments for under $400,000 were highly sought after by smaller investors and owner-occupiers in the local market.
The apartment sizes range from 68 square metres for one-bedroom units to 131 square metres for two-bedroom units. They average 100 square metres.
The current rents range from $275 a week to $340 a week.
Whole-block sales have been rare in Bankstown in the past 12 months. The most notable transaction was the sale of the whole 21 two-bedroom apartment block leased to Housing NSW at 2-6 Bungalow Crescent in Bankstown, which fetched $6.04 million in April.
The next highest sale was a block of 12 units sold for $3.35 million in mid-2010. Its sale price reflected $279,000 per unit. It’s leased to NSW Housing returning $191,000 a year.
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Bankstown blocks comprising 42 units slated for October auction

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Collingwood is no longer a centre of factories and manufacturing, but its industrial past is attracting Melbourne buyers in a new development.
The Islington Silos, a conversion of heritage-listed grain silos that used to serve the James Hood &amp; Co malt house, have been popular with Melburnians, with all 21 apartments selling off the plan within three months of their pre-sales launch in April. The neighbouring warehouse is being converted into 27 apartments, and all but five of these have sold as well.
<img src="/images/stories/silos1.jpg">
The silo apartments, which are all three bedrooms and 130 square metres, have curved exterior walls from their previous life. Melbourne Real Estate agent Steven Marks, who is marketing the properties along with Georgina Mellick and Peter Hooymans from the same agency, says the point of difference was a “key selling point”.
The 130-square-metre silo apartments ranged in price from $825,000 to $1.35 million for the penthouses.
<img src="/images/stories/silos2.jpg">
The warehouse comprises 20 two-bedroom apartments, which range in size from 66 to 80 square metres, and seven one-bedroom units. Prices for the warehouse units range from $525,000 to $680,000.
Marks says the warehouse apartments maintain their heritage façade, and the complex’s history and unique design have appealed to buyers. James Hood &amp; Co built the silos in 1878, and Hood &amp; Co supplied malt to local breweries including the Victoria Brewery.
<img src="/images/stories/silos3.jpg">
The silo apartments are all fitted with state-of-the-art kitchen gadgetry from Italian homewares designer Bontempi, and bathrooms come with Rogerseller fittings and fixtures.
Marks says the buyers have been well-heeled Melburnian owner-occupiers, with an average sale price for the silo apartments of $1 million.
<img src="/images/stories/silos4.jpg">
“They appeal to the more sophisticated buyer,” Marks says. “They have hardwood floors, really nice fit-outs – that was well received on the marketplace.”
Developer Blue Earth Group is undertaking the $35 million project, which is expected to be finished in October 2012.
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cknowlton-QnEa6ntUYP

Collingwood malt silo development hops to it

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8/174 Esplanade East, Port Melbourne, VIC, 3207
<img style="border-style: initial; border-color: initial;" src="/images/stories/esplanadeeast.jpg"> 
This one-bedroom apartment with a car space in Port Melbourne is one block away from the bay and within walking distance of Port Melbourne's shops and attractions. It is currently owner-occupied but could prove appealing for tenants. <a target="_blank" title="Hocking Stuar" href="https://www.hockingstuart.com.au/">Hocking Stuart</a> agent Justin Holod estimates that the property would rent for $400 per week, and it has price hopes of $390,000 plus. If it sells for $390,000 and is rented at $400 per week, that would be a gross rental yield of 5.3%, far higher than the indicative gross rental yield for Port Melbourne units of 4.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, September 24 at 11.30am.
For more about indicative gross rental yields and prices in Port Melbourne, see the RP Data suburb page.
For other investment prospects going to auction this weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
 
 
17/93-103 Euston Road, Alexandria, NSW, 2015
<img style="border-style: initial; border-color: initial;" src="/images/stories/euston.jpg">
This dual-level townhouse-style apartment could appeal to tenants, as it is within walking distance of St Peters and Erskineville train stations. The two-bedroom, two-bathroom unit comes with a car parking space, and it is close to King Street and Erskineville village. <a target="_blank" title="Sydney Boutique Property" href="https://www.sydneyboutique.com.au/pol/property/search.asp?f_PropertyID=1765181&amp;f_AgentID=4331&amp;xsl=4331&amp;f_st=1">Sydney Boutique Property</a> agent Tom Scarpignato has completed a rental analysis of the property and estimates it would secure about $600 per week in rent. The property sold at auction on Saturday for $625,000. A $600-per-week rent would secure an investor a gross rental yield of 5%. The indicative gross rental yield for units in Alexandria is 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.
For more about indicative gross rental yields and prices in Alexandria, see the <a target="_blank" title="Alexandria" href="/news">RP Data suburb page</a>.
 
<hr class="system-pagebreak">
 
 
14/239 Canterbury Road, St Kilda, VIC, 3182
<img style="border-style: initial; border-color: initial;" src="/images/stories/canterburyroad.jpg"> 
This studio apartment in fashionable St Kilda West comes with its own car park and is seconds away from a tram stop serving two lines. The property is currently tenanted, and the tenants are keen to stay. Similar properties in the area rent for about $290 per week. <a href="https://www.hockingstuart.com.au/" title="Hocking Stuart" target="_blank">Hocking Stuart</a> agent Simon Graf is marketing the property with price hopes of $240,000 plus. If it sells for $240,000 and is rented for $290 per week, that would secure an investor a gross rental yield of 6.3%, well above the indicative gross rental yield for St Kilda West units of 3.8%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property will go to auction on Saturday, September 24 at 11am.
For more about indicative gross rental yields and prices in St Kilda West, see the RP Data suburb page.
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Friday Form Guide: Yields of up to 5.3% in Port Melbourne

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{yoogallery src=[images/stories/september23flora]}
Retirees and empty-nesters with a flair for food have been drawn to a new boutique development in the well-heeled bayside Melbourne suburb of Brighton.
The Flora development, at 15 Well Street, Brighton, has sold five of 10 apartments in the year it has been on the market, and one more is under contract. Jonathan Hallinan, owner of Bayside Project Management developers, says all of the interest has come from people downsizing.
“All the buyers are downsizers, people who are moving out of family homes in the bayside area and are wanting a low-maintenance, very high-quality standard of living,” Hallinan says.
One of the main components of that high-quality standard of living is the kitchen fit-out in each of 10 units. Celebrity chef Guy Grossi, whose much-celebrated three-hat Grossi Florentino, two-hat Mirka at Tolarno and Grossi Trattoria draw foodies nightly, designed every aspect of the kitchens in the boutique block.
“I approached him he has been engaged to design the kitchens down to the very last detail, working with my architect,” Hallinan says. “He worked very specifically and chose all of the appliances.”
Hallinan says the Grossi-designed kitchens were a “huge selling point” for Flora buyers.
All of the apartments in the block have two bedrooms, and most also have a study. They range in size from 150 square metres to 180 square metres, and prices range from $1.7 million up to $2.1 million.
Design firm Hecker Phelan &amp; Guthrie designed the units, which have large windows to capture the light and either terraces or courtyards. The gardens have a Mediterranean feel, with lavender, olive trees and figs.
Construction finished last year.
Hallinan has recently purchased another development site in Brighton for $5.3 million, according to the Australian Financial Review. Hallinan intends to build another luxury block with Guy Grossi-designed kitchens on the 1,500-square-metre block.
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Foodies downsizing on space but not quality bloom in Brighton development

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This week I was really excited to find a fabulous property that we could add value to.  “Add value? In what way,” I hear you say.  Perhaps you are thinking through renovation – new kitchen, new bathroom, paint throughout, perhaps a deck out the back or even maybe add another bedroom?  Yes, this kind of work would usually add value to a property.  But actually, I was thinking along other lines and two words had sprung to mind: granny flat.
By adding a granny flat to this property, we could literally double the rental return.
This four-bedroom house, in a Hunter Region of NSW town, was renting at $260 per week.  But as soon as I saw it, I knew it could achieve much more. It is a large block, more than 1,000 square metres, with dual access.  By building a 60-square-metre, two-bedroom granny flat on the property it could be rented for around $270 per week on its own, just for the flat.  But it does get better – the house is way under-rented.  You see, I’m finding right now that as rental markets have continued to tighten over the past few years, there are some owners and managing agents who haven’t bothered to increase rents. This house was being rented by a long-term tenant and quite frankly, she is on a very good wicket!  The market rent in this town for a four-bedroom house is actually up to $350 per week.  So the house is under-rented by a whopping $90 per week.
So if we spruce up the house a little, and this one only needs a paint and new carpet, we can increase the rent to $350 per week.  The purchase price is $250,000 and we may spend $8,000 of a cosmetic reno, so already that’s gives us a 7% gross yield. Not a bad return when the average yield for houses in Sydney, for instance is 4.18%.
The granny flat will cost us $92,000 to build, this includes the design and complying development application fees. It also includes separate service connections for the flat so that we can rent it to a different tenant to the house if we need to. Remember, the flat will rent for $260 per week.  If we add the cost of the flat to the purchase price of the house plus the small renovation costs, and include purchasing costs of stamp duty, legal fees, reports etc then we end up with a gross yield of around 9%.
Did I already mention that the average rental yield on houses in Sydney is around 4.18%?
OK, here is the twist. If you have a self-managed super fund or are thinking of setting one up, you may be able to do all this from within your fund.
On September 14, 2011 the ATO released draft Ruling SMSFR 2011/D1 clarifying its views on key issues surrounding borrowing arrangements (Limited Recourse) as they apply to self-managed super funds, allowing fund monies to be used to renovate property.
Importantly the ATO has given clarity to concerns of fund trustee’s in regards to repairs, renovations and improvements to properties held in SMSF’s under Limited Recourse borrowing arrangements. It is clear these can now be done within such arrangements. Borrowed monies cannot be used in all cases for such work; however other monies within the SMSF can be utilized.
This information comes from Nic Ellis, director of The 2020 Group, who tells me he’s had more enquiry than ever on this topic.  People want to utilize their Super to not just invest in property but to renovate and add value.  With such a volatile global situation and stock market, Australians want more security around their retirement funds.  Nick says he’s happy to see the draft Ruling as it falls in line with his company’s interpretation. The SMSF Limited Recourse borrowing for purchase of property has seen significant growth in recent years and this draft ruling will help turbo charge this sector of the market.
However, the area remains complex and care needs to be taken to ensure expert advice, appropriate structures and experienced administration of this process. Click <a href="https://go2020.com.au.tmp.anchor.net.au/index.php?pageID=10#sectionStart" target="_blank">here </a>if you want clarity on this.
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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How a granny flat can double your rental returns

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SQM Research has released a slightly different kind of top 10 discount list this week, reviewing properties that have been on the market for the longest time. The list includes properties that have been withdrawn and re-listed. With a few exceptions these are not the most discounted properties, as vendors hold out hope that they can achieve close to their price hopes, even after years on the market. 
"Properties from Tasmania and New South Wales Central Coast have dominated the list. However, similarly to the last time SQM Research examined homes that have spent a great deal of time on the market, our number one property is still 188 Liverpool Road in Goolwa, South Australia and interestingly enough, totalling only 16% in discounts," SQM director Louis Christopher says. 
"Hanging around on the property market for approximately 1,236 days and counting - this particular case all goes to show that even waterfront properties aren't all that that hot if their asking prices aren't either. 
"In other words, this flies against the notion that good properties will sell well in any market. They won't, especially if they have been mispriced."
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a target="_blank" title="188 Liverpool Road" href="https://www.realestate.com.au/property-house-sa-goolwa+north-104620957">188 Liverpool Road, Goolwa, SA, 5214</a>
On the market since: April 24,2008
Initial asking price: $950,000
Current asking price: $800,000
Reduction: 16%
Days on market: 1,236
Last sold for: $408,000
Date of last sale: May 12, 2007
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" title="5090 Tasman Highway" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007685342">5090 Tasman Highway, Buckland, Tasmania, 7190</a>
On the market since: May 18, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,213
Last sold for: $68,500
Date of last sale: May 30, 2003
 
3
<a target="_self" title="19 Wellington Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007854879">19 Wellington Street, Oatlands, Tasmania, 7120</a>
On the market since: May 22, 2008
Initial asking price: $260,000
Current asking price: $205,000
Reduction: 21%
Days on market: 1,208
Last sold for: $145,000
Date of last sale: November 22, 2003
 
 4
<a target="_blank" title="1403 Magenta Drive" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007162731">1403 Magenta Drive, Magenta, NSW, 2261</a>
On the market since: May 22, 2008
Initial asking price: $600,000
Current asking price: $535,000
Reduction: 11%
Days on market: 1,206
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" title="290 Viveash Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,194
 
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" title="1302 Birkdale Place" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $500,000
Reduction: 26%
Days on market: 1,180
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a target="_blank" title="6 Talbingo Court" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007982701">6 Talbingo Court, Collingwood Park, Queensland, 4301</a>
On the market since: October 27, 2008
Initial asking price: $349,000
Current asking price: $308,000
Reduction: 12%
Days on market: 1,049
Last sold for: $333,000
Date of last sale: December 22, 2007
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a target="_blank" title="19 Cathcart Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007517262">19 Cathcart Street, Swansea, Tasmania, 7190</a>
On the market since: November 29, 2008
Initial asking price: $350,000
Current asking price: $289,000
Reduction: 17%
Days on market: 1,018
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" title="90 Franklin Parade" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008048160">90 Franklin Parade,  Encounter Bay, SA, 5211</a>
On the market since: December 1, 2008
Initial asking price: $1.55 million
Current asking price: $1.39 million
Reduction: 10%
Days on market: 1,015
Last sold for: $675,000
Date of last sale: August 23, 2005
 
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" title="64 Cape Three Points Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008074820">64 Cape Three Points Road, Avoca Beach, NSW, 2251</a>
On the market since: December 2, 2008
Initial asking price: $2.1 million
Current asking price: $1.55 million
Reduction: 26%
Days on market: 1,015
Last sold for: $200,000
Date of last sale: December 2, 1999
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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Properties lounge on market for years if vendors don't price realistically: SQM

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Unfortunately, this missive has nothing to do with the state of the residential market.  It remains “dead, buried and cremated”.  This was originally written over a year ago.  The Brisbane market, at least, is in a better position now.
Back in Black, one of the best “comeback” albums of all time is 30 years old.  Thirty years!  There is nothing, apart from seeing your kid’s baby photos, that reminds you more of how old you are than the significant anniversary of a favourite record.
I was in year 11 when this gem came out – a bundle of bluster, testosterone, zits and bad dance moves (some things never change) and can still remember the excitement when first hearing that ominous introduction to Hell’s Bells, the opening track.  It was a competition in our neighbourhood, in western Sydney, to see who could play You Shook Me All Night Long the loudest.  I even went into hock and bought a fancy new graphic equaliser to enhance the sound.  Those were the days.
I went to see AC/DC the following year, supported by The Angels and Rose Tattoo, and last year went to see them again, with my eldest teenage daughter, at ANZ stadium.  I would have gone twice had I been able to get tickets.  It rained during Thunderstruck during the first concert, after all.
It then comes as little surprise to find out that Back in Black is on high rotation in my car or whenever I am at home by myself.  Julia, my wife, likes Foreigner, which goes some way to explaining why she married me.  No taste at all.
Back in Black is an album of power, asserting class values and music’s ability to invigorate attitudes that some might not find palatable.  It is sexist and selfish, but it’s also ironic and piss-taking.  It was, and still remains, wild colonial convict music; in a word – Australian.
It is the first album I would grab in a house fire or take to a deserted island.
Assuming one could actually play music on a deserted island, what record would you grab first?  Better still, next time the conversation starts tanking at a barbecue or dinner party ask your friends to name their top 10 albums.  No compilations or live CDS are allowed, just original works.
Heck, work is (was, that is) so slow at present; why not jot down your list right now.  I bet you will want to revisit it within the hour.  I did mine – see below – several days ago, and am still not happy with it – there is no Bob Dylan, Neil Young, Eagles, Cold Chisel, Steve Earle, John Mellencamp, Rolling Stones, The Who, Joe Walsh, Cowboy Junkies and only one album from Tom Waits.  It is much harder than you think.
<ol>
<li>
Back in Black, AC/DC</li>
<li>
Born To Run, Bruce Springsteen</li>
<li>
Mule Variations, Tom Waits</li>
<li>
LA Woman, The Doors</li>
<li>
I, Flathead, Ry Cooder</li>
<li>
Wish You Were Here, Pink Floyd</li>
<li>
Late For The Sky, Jackson Browne</li>
<li>
Some Days You Eat The Bear…, Ian Matthews</li>
<li>
Beneath This Gruff Stuff, John Hiatt</li>
</ol>
10.  Cosmo’s Factory, Creedence Clearwater Revival
Remember, rock ‘n’ roll ain’t noise pollution.
PS  This year, statistically at least, I reached my half-life.  I now have fewer days in front of the horse than riding in the back of my cart to paraphrase another favourite artist, John Mellencamp.  Also April, our eldest daughter turned 18 a few months ago, and she is “out and at them” down in the apple isle, and her sister – Savannah – who at just 16, is on a 12-month exchange in Finland.  Proud yes!  But sometimes you just feel old –  well, older at least. 
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
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michaelmatusik-49YzLvdmNv

Back in Black: Welcome to your half-life

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Westpac continues to stick its neck out and forecast an interest rate cut before the end of the year following the release of the minutes from the September RBA monetary policy meeting.
Westpac chief economist Bill Evans says the minutes suggest an October rate cut is a possibility, but he believes December – the bank’s long-held and lonely position – to be the most likely date.
Evans notes the extensive use of the word “weak” when describing domestic economic conditions in the minutes – “for private non-residential building approvals; for the housing market; and for the demand for credit”.
“Financial conditions are described as tighter than normal,” he says.
In contrast to the Westpac position, Commonwealth expects a rate rise in the first quarter of 2012 while NAB expects rates to remain on hold until November next year.
Evans places particurlarly focus on the final line of the <a href="https://www.propertyobserver.com.au/economy/housing-weakness-highlighted-in-cautious-rba-minutes/2011092051619" target="_blank">minutes</a>: “For the present, however, members considered that the current setting of monetary policy left the board well placed to respond to evolving global and domestic economic conditions.”
“One way to look at this is to note that if the board was considering the possibility of lower rates then to have a monetary policy setting that is in the contractionary zone allows ample flexibility to act,” Evans says. “Indeed the wording of this line does not preclude a rate cut in October. That is not our view but we have to note that the Bank's language has evolved very quickly away from a very hawkish tightening bias over the last few months.”
Evans notes the prominent mention of the deteriorating global economic outlook in the minutes and the fact that RBA optimism about the medium term growth outlook is qualified by the statement "providing that the world economic outlook did not continue to deteriorate". “Commentary on the current economic environment is more downbeat than in previous minutes, "near term growth outlook looked somewhat weaker than had been expected earlier", "the broader economy was softer than earlier expected".
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Westpac sticks to its December rate cut forecast

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Only two apartments remain in a new development slated for the Flinders Street building that once housed Lou Richards’ Phoenix Hotel. The development will offer whole-floor apartments with uninterrupted city views.
Phoenix 82, named for Richards’ rough-and-tumble journo hotspot, will offer 28 two- and three-bedroom apartments over its 28 floors. All of the two-bedroom units have been sold, and only two of the three-bedroom units remain.
<img src="/images/stories/phoenix821.jpg">
Knight Frank agent Gerry Wang says most of the buyers have been local owner-occupiers keen to live in the Melbourne CBD.
Prices started from $645,000 for the two-bedroom apartments and from $1,865,000 for the three-bedroom units. All apartments from level 11 to leve 28 have three bedrooms, and those on the lower floors are two-bedroom units. The three-bedroom units are 131 square metres, and the two-bedrooms are about 80 square metres.
Former Collingwood footballer and footy commentator Lou “Louie the Lip” Richards operated the Phoenix Hotel at 82 Flinders Street after retiring from footy in the mid-1950s. He and his wife, Edna, sold the bar in 1993, and it was transformed from rowdy journo pub into a more businessman-centred bar.
<img src="/images/stories/phoenix822.jpg">
The Phoenix closed earlier this year, and the entire building will be demolished to make way for the Phoenix 82 development. Construction is due to start in the next two months and is expected to take between 18 months and two years.
The striking façade of Phoenix 82, designed by Fender Katsilidis architects (the firm behind Melbourne’s iconic Eureka Tower), will encompass a blue ribbon of light snaking around the building.
““The building itself will be wrapped by a light bar which curves like a ribbon around it and cascades around exterior walls and balconies. Made from steel plate and set above LED lighting, the blue bar will transform the structure and make a bold statement,” says Fender Katsalidis architect James Pearce.
Knight Frank project marketing director Tom Omerod says the fittings and fixtures will be second to none in the new project.
“Floor to ceiling windows, natural stone bench tops, reclaimed wooden flooring and Marc Newson designed Smeg appliances all come as standard,” Omerod says.
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