<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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Many articles have been written about buying properties off the plan. Most are critical of this approach to buying and conclude that the numbers simply don’t add up. However, as with all investments, there are pros and cons that warrant a balanced analysis based on your own personal circumstances.
Developers sell off the plan because this is usually a requirement for them to secure upfront construction financing from a lender. A certain percentage of the development usually has to be pre-sold before the release of funds by the bank. Buyers would pay a deposit to secure the property, with the balance payable upon settlement.
Below I consider some of the pros and cons of buying off the plan in NSW.
Pros
•             Brand new. Everybody likes the feeling of “newness” – be it new cars or new houses.
•             Developer discounts. Developers may sell some units at a discount if they need to meet sales targets to get the construction underway.
•             Extended settlement period. With delivery usually over a year or two away, it gives you time to sell your place or to obtain financing (or even to increase your income before financing needed).
•             Stamp duty concessions. Over the last five years, various concessions on stamp duty have been offered in NSW such as for retirees and first homebuyers.
•             Customisation. It is often possible to provide input on final design if a property is purchased before construction (e.g. to merge two apartments into one large one or to choose certain fittings and fixtures).
•             Warranty periods. All builders are required to provide seven-year warranty on building structure (in addition to a preliminary period covering finishes defects). However, note that home warranty insurance (with a third-party insurer) is only required to be taken out by builders on residential projects valued over $12,000. Larger developments (buildings of more than three stories) are exempt and the purchaser must rely solely on the builders’ warranty. Clearly this presents a significantly greater risk to buyers. The certificate of insurance, when issued, must be attached to the contract of sale.
•             Lifestyle. Newer units are built to reflect today’s tastes and preferences such as open-plan living areas, larger balconies and amenities such as pool, gym and concierge services.
•             Potential for capital gains before settlement. Many investors are speculators and love to bank on off the plan properties going up in price before the property is even finished. Beware however, that the reverse is also possible.
•             Leveraged investment. The down payment is usually low for the construction period (i.e. it can be a leveraged investment without the need for bank financing).
Cons
•             Final product is unknown. Buying something on paper without having seen the item is a significant risk. The finished product may not live up to your expectations (e.g. aspect, quality, etc.)
•             Premium price for newness. Just like cars, brand new properties have a certain premium. This is partly due to the newness factor, but also due to Australia’s Foreign Investment Review Board (FIRB) regulation which stipulates that foreigners can only buy brand new properties and not second hand ones. There is a larger consumer base for new properties (as foreigners can also buy) and consequently new prices are higher than in the secondary market. When this property is later sold, it cannot be sold to foreigners (lowered demand possibly leading to a lowered price).
•             Lower land to asset ratio. New homes and units alike are usually built at much higher density than those built 25+ years ago. Since land value is the primary influence on capital gains for property, it is not uncommon for capital gains associated with a new property investment to be lower.
•             Developer bankruptcy risk. There is always a risk that the developer goes bankrupt before completion (with loss of deposit if the legal structure is not sound) or during the warranty period.
•             Expected financing may not be available in the future. While banks may be lending on attractive terms today, and while the buyer may have the capacity to borrow the required amount at the time of purchase, this may be very different in the future when the financing is actually needed.  At settlement, when the property is completed, banks may not be willing to lend the same amount (LVR), the valuation may be lower than the purchase price, or the buyer’s income and circumstances may have changed. In all these cases, the buyer would need to come up with a larger down payment than expected. In addition, the interest rates at time of settlement may be very different from those prevalent at the time of purchase.
•             Lower capital growth can be expected (at least in the early years) as depreciation is high. The new property will depreciate significantly in the first few years as it goes from new to second-hand – just like a car when you drive it off the dealership.
•             Defects can be extensive. There is often a 1-5 year period in which building defects materialise and become visible. In the best case scenario, a very good builder will address these with minimal inconvenience and hassle. A bad builder however, may not fix the defects properly. In which case extensive time and cost is required to address the defects through negotiation, mediation and possibly even court.
Tips for buying off the plan
•             Buy from trusted developers with a proven track record. Established developers obviously have much more experience and resources than small developers. Reputable developers tend to make fewer mistakes (which can be extremely costly in the long run) and when problems occur, they tend to be in a position to rectify it more effectively and efficiently. Although many new development projects have mandatory 7 years structural warranty with an insurer as back-up, it is not uncommon for developers to simply go bankrupt before this period is over. It then becomes much more complicated to claim for defects from the insurance company.
Where possible, try to inspect other properties which the developers have completed so you can gauge the quality of the workmanship first hand.
•             Understand exactly what you are buying. Read the fine print and seek legal advice before signing any documents. Don’t make assumptions as to quality based on promises made by the salesperson or model/showroom. If detailed specifications are not provided, don’t be afraid to demand more information in writing or to provide you own list of requirements/specifications.
For example, even if the shower screen for the bathroom is specified as glass, this does not tell you whether you will be getting 5mm thick semi-frameless glass screen or 10mm fully frameless ones. There is a significant difference both in quality and price. Most developers know that buyers look at the quality of the kitchen appliances and they tend to splurge on high-end brands. However, most buyers are not as educated or discerning when it comes to accessories such as tap ware, cornices, skirting boards, balustrades, etc. You need to understand whether your money is going towards quality German tap ware or cheaper Chinese ones, for example.
•             Understand your rights. What modifications or substitutions are possible without additional costs to you? Can the apartment be on sold by you prior to completion? Where is the down-payment being held (i.e. is it in a trust account? Can the builder use it for construction?). Are you able to get out of the contract if the property is not finished on time? Are you able to visit the site during construction? What is the process to ensure that defects are fixed in a timely manner?
•             Have a contingency plan. Few developments are completed according to schedule and you need to make sure that you will not be overly inconvenienced should this occur. In addition, make sure you are financially prepared and able to pay a higher strata levy (where applicable) than what the developers calculate in order to appeal to buyers during the sales process.
•             Consider your exit strategy. When it comes time to sell, will it be easy to offload your new property? Without the newness factor, will it still appeal to many buyers? Has the property been well designed to have a timeless appeal? Will there be lots of other similar properties to compete with yours (in the area) when you want to sell? Will buyers be attracted or put off when they find out who the developer is?
At the end of the day, the logic of buying an off the plan property is similar to other investments. You need to weigh the pros and cons as they apply to your life and circumstances. You will also need to understand your level of appetite for taking risks and your ability to mitigate them; because buying off the plan means that you are buying something you can neither see nor touch. You are essentially buying a promise.
Oliver Stier is the director of <a href="https://www.ohpropertygroup.com/" target="_blank" title="OH Property Group">OH Property Group</a>, a Sydney-based buyers agency. In addition to being a licensed real estate agent, Oliver also holds the Chartered Financial Analyst (CFA) designation. You can follow Oliver on Twitter at <a href="https://www.twitter.com/ohproperty">www.twitter.com/ohproperty</a>
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oliverstier-Cu9aF99VRm

Seven traps for unwary off-the-plan buyers

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5 Alex Place, Bligh Park, NSW, 2756
<img src="/images/stories/blighplace.jpg">
This property is currently rented at $400 per week and could make a good prospect for investors. The lease was negotiated about six months ago and has expired, but the tenant is keen to stay on. The three-bedroom, one-bathroom house is light and airy, close to schools and transport and includes a garage or shed with workshop. It is being marketed by <a href="https://www.vibeproperty.com.au/bligh-park-5-alex-place-2/" title="Vibe Property " target="_blank">Vibe Property Richmond</a> agent Michael Mahboub with price hopes of $399,000 plus. If it sells for $399,000 it would net investors a yield of 5.2%, about the same as the suburb's gross indicative yields for houses of 5.3%. It goes to auction on Saturday, August 13 at 11am.
For more information about prices and yields in Bligh Park, see the RP Data suburb page.
For other investment prospects going to auction this weekend, see pages 2 and 3.
 
<hr class="system-pagebreak">
64 Emu Parade, Jacana, Victoria, 3047
<img src="/images/stories/emuparade.jpg"> 
A rent assessment of this three-bedroom property estimates the potential for $310 to $340 per week in rent. The land size is 788 square metres, and it includes two carport spaces and one garage space. It is being marketed by <a href="https://www.raywhite.com/vic/jacana/643350/" title="Ray White" target="_blank">Ray White Tullamarine</a> agent Danny Coffey with price hopes of $320,000 plus. The property was passed in at auction on Saturday, August 13 at 11am. 
For more information about prices and indicative yields in Jacana, see the RP Data suburb page.
 
<hr class="system-pagebreak">
  
8/178 Kurraba Road, Neutral Bay, NSW, 2089
<img src="/images/stories/kurabnuetral.jpg"> 
This studio apartment is well located near ferries, parkland and shops and could appeal to tenants. It is within easy community distance of the city and North Sydney. Listing agent Simon Nakhla of <a href="https://www.mcgrath.com.au/buy/apartment-neutral-bay-nsw-2089/131845/?searchID=8202177" title="McGrath" target="_blank">McGrath Neutral Bay</a> says the property has generated a lot of investor interest. It is being marketed with $250,000 plus hopes. Indicative gross yields in the area are 2.5%, according to RP Data. It was passed in with a vendor bid on Saturday, August 13 at 9am. 
For more information about prices and indicative yields in Neutral Bay, visit the RP Data suburb page. 
<div id="_mcePaste" class="mcePaste" style="position: absolute; left: -10000px; top: 344px; width: 1px; height: 1px; overflow-x: hidden; overflow-y: hidden;">https://www.propertyobserver.com.au/data/suburb/bligh-park-nsw</div>
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cknowlton-QnEa6ntUYP

Friday Form Guide: Yields of up to 5.2% in Bligh Park

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Tuesday this week was the most volatile day for Australian share markets in 27 years, with shares down 5.6% at one point. Apparently, it was the only day where the market was down by such a significant margin, only to turn and finish in the black. Talk about a rollercoaster ride.
We are seeing very low consumer sentiment, in fact confidence has fallen for the past four months straight as everyone is spreading their doom and gloom thoughts.
This week, the Australian dollar fell below parity for the first time since March this year and the US Central Bank announced they would keep interest rates at zero for the next two years.
Retail spending across the country is growing at its slowest pace in 50 years. This is just some of the data I’ve been pondering today when writing this column.  It wasn’t hard to Google up the negative news, so when I was asked to write about my take on it all and how it may affect starting a new development, I really had to stop and think.
Because what is extremely interesting right now, as we see these turbulent times in the stock market and world economies, is that we are getting a lot of enquiry from people wanting to take the next step into developing property.  We’ve never been busier. You might think this strange as developing is often referred to as a ‘risky’ strategy. And if there’s one thing we don’t need now in these volatile times is more risk.
But is developing really that risky?  Not compared to what else is going around right now.  By developing, you are adding value to your property.  I’m not suggesting you build a block of 50 units, perhaps look at a simple dual occupancy development, creating two properties from one.  By doing just this, you can also create equity rather than wait for capital growth to come.  If you take it one step further and build three villas on your land, you will see the equity creation grow substantially with little further risk.  Three villas may take only a little longer to develop than two.  Minimise the risk by using a project manager to help you fast track your development.
Our clients at the moment are also holding investment properties.  They want to add to their portfolios quickly and they see opportunity in today’s buyers market.  Hmmm....on one hand there is the doom and gloom of what they are calling the ‘Second GFC’ and on the other hand we have clients lining up to buy development sites.
I think I know why.  Over the past few years, we’ve seen our rental markets tighten and tighten and keep tightening.  So those of us holding investment property have finally been able to reap the rewards of higher yields.   In the meantime, our access to credit has loosened up, a little bit anyway.  Most lenders are offering higher LVRs and softened serviceability criteria compared to the drastic changes that were made in 2008 as a result of the global credit crises.  Construction loans are becoming easier to obtain for multi unit developments and I’m working with one lender who is now lending on Tentative on Completion valuations, meaning developers can borrow against the end value of the development, maximising their finance and using less of their own cash.  As a result, investors holding high yielding investment properties can service a development.
Property Bloom develops property in the Hunter Region of NSW, but only in large towns where the government is spending up on major infrastructure projects and where there is growing employment.  The coal mining industry has an impact on most of our towns but we still like to develop where there is a diverse economy.  We choose towns that have already been earmarked for high growth to take up the area’s growing populations and where there is strong rental demand.  In fact, these towns are powering along, some are even opening retail stores, it’s like they are on another planet, oblivious to what is happening in some parts of Australia and other parts of the world.
So is property development a good strategy right now. It’s a yes from me, but only in the right areas.  I think we’re on the cusp of a growth phase that may be triggered when interest rates drop. The demand will come from mainstream investors wanting less volatility than the share market is offering.  If you are adding value to your property at the same time as the market moves up, it’s a double whammy.  I really think this is a window of opportunity rather than a gloomy dark place.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

Property a window of opportunity in dark times

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You often hear that Australian housing is more expensive than, say, <place><country-region>UK</country-region></place> or US housing, if not the dearest in the world.
Wild fluctuations in currencies make international comparisons hard, to say nothing of profound differences in house price data, household formation and population growth rates, the availability of new housing supply, the urban structure of nations, interest rates, and the legal, tax and institutional features of housing markets around the world.
By way of example, the rate of home ownership in Germany is about 40%, compared with circa 70% in Australia, the UK, Canada, and New Zealand.
In the US there is capital gains tax levied on the owner-occupied home while mortgage repayments are tax-deductible. In contrast, the owner-occupied home is CGT-exempt in Australia, the UK, Canada, and New Zealand, but this comes with a cost: mortgage repayments are not tax-deductible.
One country Australia does share strong commonalities with is, naturally, the UK. The UK also has the benefit of very good housing data that is not plagued by “sample selection biases” (i.e., when you only get a fraction of the total population of home sales, as you do with US house price indices).
So today I wanted to address two simple questions.
First, have Australian housing costs risen more rapidly than their UK equivalents during the last couple of decades?
And, second, how far did UK house prices fall during the GFC, given the near complete disintegration of its banking system, with the whole or partial nationalisation of many of its largest lenders? (UK taxpayers ended up owning 100% of Northern Rock, 83% of RBS, and 41% of Lloyds.)
I ask this question because the correspondence between the Aussie and UK banking systems, which are both dominated by a <personname>sma</personname>ll number of big institutions, and their housing markets (both have near-identical approaches to tax and similar demand and supply fundamentals) makes a study of the UK downturn a credible guide in the event that something – god forbid – catastrophic were to happen here.
That is, it gives us a reasonable indication as to how far Australian house prices might decline if our banking system imploded, the economy careened into an acute recession with soaring unemployment and default rates.
For the purposes of this analysis we have taken the broadest possible <country-region><place>UK</place></country-region> house price measure, which is produced by a group called <a target="_blank" title="Acadametrics" href="https://www.acadametrics.co.uk/">Academetrics</a>. We then compare this with our standard RP Data-Ri<personname>sma</personname>rk Hedonic Combined Capital Cities Index.
The results, which are illustrated in the two charts below (click to enlarge), are fascinating.
First, in the 15 or so years before the GFC, UK housing costs actually increased at a substantially greater rate than their Antipodean counterparts.
Of course, the cataclysmic economic and financial collapse subsequently experienced in the <country-region>UK</country-region> in 2007-08 resulted in a very significant contraction in <country-region><place>UK</place></country-region> dwelling prices.
Specifically, on a peak-to-trough basis, <country-region><place>UK</place></country-region> home values fell by 13.6%. This compares with a <personname>sma</personname>ller 3.9% peak-to-trough decline in Australian dwelling values, which did not have to contend with big increases in unemployment (or arrears).
<a href="/images/stories/joyeaugust111x.jpg" rel="shadowbox" title="Click to enlarge"><img style="border-style: initial; border-color: initial;" src="/images/stories/joyeaugust111thumb.jpg"></a>
Monetary policy also works differently in <country-region><place>Australia</place></country-region>, with almost all borrowers on “adjustable rate” loans. In the UK, the split between variable and fixed-rate loans has historically been around 50:50. This makes it harder for the <country-region><place>UK</place></country-region> central bank to deliver cash-flow relief to borrowers in the event of a crisis.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyeaugust112x.jpg"><img src="/images/stories/joyeaugust112thumb.jpg"></a>
The circa 14% drop in UK house prices is noteworthy, but perhaps not as big as some might have expected. For example, the Aussie share market (as measured by the ASX/S&amp;P200) has fallen further in the last month or so. 
And based on a far less-accurate benchmark for US housing costs, the S&amp;P Case-Shiller Index, which unfortunately excludes about 40% of all US homes, the correction on the other side of the Atlantic was twice as steep. This might be partially explained by the fact that <country-region>US</country-region> default rates were nearly three times higher than comparable <country-region><place>UK</place></country-region> arrears (and about 10 times higher than Australian defaults). 
 
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A more interesting finding speaks to relative value. Because of the much stronger run-up in UK house prices prior to the GFC, the overall change in housing costs over the last 18 years has been virtually identical to Australia’s, notwithstanding the sharp recent correction. 
This can be seen in two ways. First, the levels in the charts are similar after accounting for a couple of decades’ worth of value changes. Second, the compound annual growth rates between 1993 and 2011 are statistically indistinguishable (7.3% in the case of <country-region>Australia</country-region>, and 7.0% for the <place><country-region>UK</country-region></place>). 
If we plot the two house price benchmarks on a so-called “logarithmic scale” we can also evaluate their changes on a truly like-for-like basis. A log scale transforms the first chart such that movements in the two lines represent the same percentage change. As you can see in the second chart, the two lines look like one. 
As a final test, we can compare house price-to-income ratios. Luckily the economists at ANZ, which happens to have a British CEO, have done this for us (see the third chart below). It turns out that the <country-region>UK</country-region> house price-to-income ratio is actually higher than <place><country-region>Australia</country-region></place>’s, which suggests that Aussie housing may actually be better priced.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/joyeaugust113x.jpg"><img src="/images/stories/joyeaugust113thumb.jpg"></a>
Based on the analysis above, residential property in <country-region>Australia</country-region> looks to be just as good value as <country-region><place>UK</place></country-region> housing today. Indeed, with demonstrably superior economic and household income prospects, and faster household formation rates, one might reasonably project superior returns in future. 
Christopher Joye is a leading financial economist and works with <a target="_blank" title="Rismark International" href="https://www.rismark.com.au/">Rismark International</a>. Rismark and RP Data provide house price analytics products, and solutions that enable investors to go long and/or short the housing market. The above article is not investment advice.
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chrisjoye-JYhJsTrNRC

Aussie housing showing up the Brits with all their woes

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The “time to buy a dwelling” sentiment dropped by 3.9% in the latest Westpac-Melbourne Institute Index of Consumer Sentiment.
But the level interest still sits as above the index lows of earlier this year. The index tracking views on whether it was time to buy a car fell by an even sharper 6.2% to register the lowest point since 2008.
The overall Westpac-Melbourne Institute Index of Consumer Sentiment fell by 3.5% in August from 92.8 in July to 89.6 in August.
“Coming after a fall of 8.3% in July, this latest fall is sending a significant message,” Westpac chief economist Bill Evans says.
The Index is now at its lowest level since May 2009 based on the survey conducted over the period August 1 to 6.
Some 76% of respondents had answered the survey before Friday, August 5, when confidence was jolted by turmoil in global financial markets with the reported 4.3% fall in the Dow Jones Index of US shares and the 4.2% fall in the Australian Index.
For the period before August 5 the Index was at 91.4 and for respondents in the period of August 5 to 6 the Index stood at 83.9.
“The index had fallen by 1.6% even before the financial turmoil,” Evans notes.
“As expected this financial turmoil has added another dimension of risk to consumers over and above those issues associated with interest rates, house prices, carbon tax, and potentially, jobs.”
The modest fall in sentiment is despite the Reserve Bank holding rates steady at its recent meeting and (until recently) a surging Australian dollar. It comes after an 8.3% fall from already low levels and clearly points to the consumer remaining cautious.
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jchancellor-FAypfDUnLy

Houses perhaps but certainly cars off the shopping list as consumer sentiment falls

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Twenty-one out of the 48 apartments in a new development in the Melbourne suburb of Blackburn have sold in the first three weeks since its launch.
Q2, which will comprise 48 one- and two-bedroom apartments, was designed by Hayball architects and developed by Kokoda property. Construction is expected to begin in late September and is expected to be completed by late next year.
<img src="/images/stories/blackburn1.jpg">
The development is at 2 Queen Street, close to <a target="_blank" title="Blackburn" href="/news">Blackburn </a>railway station and shops and cafes on the Maroondah Highway.
“At the end of Queen Street is the station and all of the shops, so convenience-wise it’s a great spot,” says David Howard, sales associate at Castran Gilbert, which is marketing the property. “You can walk to the end of the street, jump on the train and you’re off to work.”
<img src="/images/stories/blackburn2.jpg">
One-bedroom apartments, which range from 50 to 63 square metres, start from $345,000. Two-bedroom apartments, which range from 61 to 68 square metres, start from $475,000. 
According to RP Data, the median price for apartments in Blackburn is $550,000, and the gross indicative yield for the area is 3.3%.
<img src="/images/stories/blackburn3.jpg">
Howard says most of the interest has come from owner-occupiers who already live in the area.
“We’ve had some people downsizing who already live out in the eastern suburbs and no longer need the big family home,” he says. Howard estimates that most of the buyers come from a five- to 10-kilometre radius of Q2.
However, “you’ll always get investors as well”.
The development launched the weekend of July 16 and 17.</body></html>

Blackburn development 45% sold in three weeks

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There was no statistical weakening in weekend auction clearance rates after Friday’s rout on sharemarkets. But only the most optimistic expect any flight to property – as occurred a month or so after the October 1987 share market crash. It’s more likely to be a repeat of the aftermath of the initial 2008 global financial crisis.
Melbourne’s clearance rate remained steady, and Sydney’s picked up a tad in weekend results.
But agents did, however, sense a shift in mood, an anxiety among both among the buyers and the sellers.
SQM director Louis Christopher notes “perhaps sellers were more keen to offload”.
And Melbourne buyers’ agent Mal James concluded the top end of the market was tough, “but it was not an absolute shocker”.
There’s no way of telling whether the property herd will panic and flood the market this spring, but there’s not likely to be a flight of purchasers towards property.
There’s just too much despondency about the leading asset classes, except cash.
The best asset class for investors today was fixed interest, not real estate, property guru Mark Bouris told Friday’s Property Council of Australia lunch in Sydney amid plunging equities markets.
“If you’ve got some spare money, there’s only one place you should have invested,“ Bouris, the founder of Wizard Home Loans who now chairs listed wealth management firm Yellow Brick Road, says. “But the question is what’s the best asset to be in at the moment, and really right now, it’s fixed interest.”
Bouris suggested about 70% of a balanced portfolio should be invested in fixed interest, including term deposits and cash management trusts. The rest ought be divided between shares and property, he says.
The turmoil is quite likely to affect the top end of the market, mirroring the aftermath of the 2008 global financial crisis. And on the weekend the James Clearance Rate for $1 million-plus listings in Melbourne was 52% on the 25 auctions the group attended. But only three actually sold under the hammer, and buyer demand was at its weakest since 2008.
“There was not one $4 million-plus bidders’ auction in the 25,” James notes. “The choice of homes on offer was average at best.
“Right now is pretty much a nothing market – and again this weekend, nothing much happened. But nothing much has happened for several months,” James says, pointing out the traditional winter slowdown.
There were 19 sales with prices above $1 million in Sydney, according to Australian Property Monitors, with another four sold for undisclosed prices. There were 12 passed in at prices above $1 million. There were two properties with no bids and four were withdrawn. So a 56% success rate of the 41 $1 million-plus listings.
Uncertainty over the local and international economic climate is clouding what is currently a bright outlook, according to economist Dr Andrew Wilson at Australian Property Monitors.
“Weekend auction clearances rates continue to fluctuate, although they remain reasonably typical of the Sydney winter housing market. Although home buyer activity is set to increase through the usually buoyant spring selling season, the impact on buyer confidence of declining economic activity may prove to have a dampening effect,” Wilson notes.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/57per.jpg">
Melbourne’s weekend clearance rate from the preliminary 460 results compiled by the Real Estate Institute of Victoria. There were 510 scheduled auctions held in Melbourne. On the same Saturday last year the clearance rate was 67%. REIV chief executive Enzo Raimondo says there are about 500 auctions next weekend. After some further results came in from the July 30 auctions, Melbourne recorded a 57% clearance rate. “The falls recorded in the stock market do not appear to have impacted the residential auction market,” Raimondo says.
 
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Sydney’s weekend clearance rate from the preliminary 217 results compiled by Australian Property Monitors. There were 264 scheduled auctions in Sydney. On the same Saturday last year the clearance rate was 60%. Clinton McNabb at APM says there are about 310 auctions due next weekend. After some further results came in from the July 30 auctions, Sydney recorded a 53% clearance rate.
 
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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/3mil.jpg">
 
The weekend’s highest recorded price across Australia was on South Road at Brighton. There was just the one bidder, who secured it after auction.
“The main road would be an issue but other than that, it is hard to fault,” James Buyer Advocates principal Mal James notes.
It was a good result, according to James, as it reflected just shy of a 10% increase in the two years since its last sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/auctionsaugust8.jpg">
Marshall White agent Madeline Kennedy listed the five-bedroom French Provincial family residence on 670 square metres (pictured above and below). Photo above courtesy of James Buyer Advocates.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/brightonauction.jpg" style="outline-style: none; outline-width: initial; outline-color: initial; padding: 2px; border: 0px initial initial;">
It was built in 2008 with a grand foyer with Swarovski chandelier and sweeping staircase, formal American oak study, marble kitchen and a heated pool.
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Weekend auction results appear unshaken, but uncertainty looms 

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Building construction activity is expected to pick up strongly in NSW over the next two years, according to forecasts by BIS Shrapnel. 
Growth of 15% and 14% is forecast in NSW over the next two years to 2013, compared with national growth of 8% and 1%. 
“Very strong growth” in residential construction and a strengthening of non-residential activity – both coming off a very low base – will drive the recovery in NSW, BIS Shrapnel estimates. 
In contrast, construction activity in Queensland will stagnate over 2011-12, growing by just 1% over the period, but will pick up over 2012-13, accelerating by 16%, according to the forecast. 
A drop in residential activity in Queensland 2011-12 will be followed by a “sharp rise in residential construction in 2012-13, with both detached house and higher density projects contributing” the research group has forecast. 
Alterations and additions will also support building in Queensland in 2011-12 as housing is refurbished after being damaged by floods and cyclones across the state in early 2011, the company says. 
Non-residential commencements in Queensland are anticipated to weaken in 2011-12 as spending on education and health projects winds back to more historically normal levels, before showing a small rise in 2012-13 as commercial and industrial building improves.
<img src="/images/stories/bisshrapnelaugust8.gif">
Source: BIS Shrapnel
BIS Shrapnel forecasts the value of new residential building commencements to rise by 10% over 2012-13 on the back of an accelerating economy. 
The research group attributes the 12% national decline in building activity over 2010-11 to the winding down of construction related to the “Building Education Revolution” program. 
This fall-off more than offset the emerging recovery in commercial and industrial building, which is forecast to continue to underpin overall growth in 2011-12. 
“The continuing recovery in commercial and industrial building – up 21% – will be a key driver of the improvement in building commencements in 2011-12, while increased construction in the health sector – up 73% – will also play a part,” says BIS Shrapnel managing director Robert Mellor. 
“With the Australian economy largely recovering since the GFC, the environment has become more conducive for commercial and industrial development. There is also $7 billion in new hospitals and other health care facilities due to commence in 2011-12, particularly in Victoria, Queensland, South Australia and Western Australia.” 
According to Mellor, the contribution from residential building is forecast to be minimal in 2011-12 after being negative in 2010-11 due to the decline in activity after the expiry of the first-home owner’s grant boost scheme, as well as the winding down of the federal government public housing stimulus. 
The decline is expected to more than offset an otherwise healthy rise in multi-unit residential starts. That rise is largely due to the improved financial environment that allows developers to be increasingly able to fund apartment projects. 
Despite a weakening in net overseas migration inflows, which have fallen from a record 300,000 people in 2008-09 to an estimated 165,000 in 2010-11, Mellor says “construction nationally still remains below the level of underlying demand, although in some states the market is closer to balance”.
Gains are expected to be roughly felt equally across new houses and multi-unit dwellings, with the upturn concentrated in Queensland, Western Australia and New South Wales. 
However, the residential building upturn is expected to be short-lived, with BIS Shrapnel forecasting the value of residential building starts to decline by 15% during 2013-14 and 2014-15.
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lschlesinger-FZcF9M3vE6

NSW heads to recovery but others catch the construction blues: BIS Shrapnel

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1/57 Pechem Street, Glenroy, VIC, 3046
<img src="/images/stories/pechem.jpg">
This three-bedroom, two-bathroom house will appeal to tenants, as it is within walking distance of Glenroy train station. A rental analysis of the property carried out by selling agent Danny Coffey of <a href="https://www.raywhite.com/vic/glenroy/639854/" title="Ray White Tullamarine" target="_blank">Ray White Tullamarine</a> estimates the rental potential to be about $350 per week. The house is listed with price hopes of $410,000 plus. If it sells for $410,000 it will net an investor a yield of 4.44%, higher than the gross indicative yield for Glenroy of 3.5% for houses, according to RP Data. A result of $440,000, which Coffey says he is hoping for, would net an investor yields of 4.14%. The property goes to auction on Saturday, August 6 at 12.30pm.
For more information about gross indicative yields and prices in Glenroy, see the RP Data suburb page.
For more investment possibilities going to auction this weekend, see pages 2 and 3.
 
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11 Evergreen Circuit, Cheltenham, VIC, 3192
 
<img src="/images/stories/evergreen.jpg">
This three- or four-bedroom, two-bathroom house has a light-filled, airy interior and is close to Southland shopping centre. It includes blond-wood floors and a private courtyard. Indicative gross rental yield for Cheltenham is 3.5% for houses, according to RP Data. The property is being marketed by <a href="https://www.buxton.com.au/" title="Buxton" target="_blank">Buxton </a>agent Sam Upleger with price hopes of $610,000 plus. It will go to auction on Saturday, August 6 at 11.30am.
For more information about indicative gross rental yields and prices in Cheltenham, see the RP Data suburb page.
 
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119 Old Canterbury Road, Dulwich Hill, NSW, 2203
<img src="/images/stories/oldcantebury.jpg">
With three bedrooms, this light-filled property is in a quiet cul-de-sac off a main road and includes a courtyard and built-in barbecue. It is in an area popular with families and is within walking distance of a train station, buses and schools, which means it is likely to appeal to tenants. Gross indicative yield in the suburb is 3.5%. The property is being marketed by <a href="https://www.sydneyboutique.com.au/pol/property/search.asp?f_PropertyID=1712778&amp;f_AgentID=4331&amp;xsl=4331&amp;f_st=1" title="Sydney Boutique Property" target="_blank">Sydney Boutique Property</a> agent Tom Scarpignato with price hopes of $740,000 plus. The house goes to auction on Saturday, August 6 at 12.45pm.
For more information about gross indicative yields and prices in Dulwich Hill, see the RP Data suburb page.
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Friday Form Guide: Potential yields of 4.4% in Glenroy

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{yoogallery src=[images/stories/august4blackfriars]}
8 Blackfriars Close, <a target="_blank" title="Toorak" href="/news">Toorak</a>, VIC, 3142
This home is one of a kind. One could be mistaken for entering a country retreat with tranquil grounds and a variety of peaceful rooms to relax in. This is a home for someone wanting something different from the norm. If stairs are not a concern, it would work well for families with teenage children. There is no connection between the kitchen to the back yard, nor from the upstairs living areas, so it may not suit families with younger children and these are reflected in the rating. That being said, I liked it. Every opportunity for light has been brought in. The living rooms and bedrooms all face north. The home is extremely private and it's a short walk back to reality - with Toorak Village, transport, the M1 and schools all close by.
The house has been given a rating of 571 out of 1000 by James Buyer Advocates, which puts it in the category of the low end of average. The property is being marketed by <a href="https://www.marshallwhite.com.au/?pagecall=property&amp;propertyID=1797228" title="Marshall White" target="_blank">Marshall White</a> agents Justin Long and Susan McGlashan with price hopes of $3.25 million. It goes to auction on Saturday, August 6 at 12.30pm.
Kristen Hatt is principal buyer advocate of <a href="https://www.james.net.au/rating/8-Blackfriars-Close-TOORAK" title="James Buyer Advocates" target="_blank">James Buyer Advocates</a>. James provides market updates, home ratings and advice on its website.
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