<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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Property developing can throw many different challenges at you, and one thing I have learnt in this industry is there is always a solution to a problem. The trick is to understand what possible problems may arise and preparing yourself for them. Unfortunately things don’t always go to plan, and as a project manager it is up to us to make sure the development gets through as efficiently as possible.
One of the biggest areas for problems is not allowing enough for building works.
When pricing a development and running feasibilities, it is important to understand that your building estimate is an organic creature. By this I mean the building estimate you start with will nearly always be different to the one you end with. It will evolve throughout the process as you obtain more and more details. Once you have all the fine details, the building estimate can be finalised to the fixed price builder’s tender.
If architecturally designing our villas, we generally follow this process:
<ol>
<li>Concept plan – this will show the number and size of villas on the land, but not much detail</li>
<li>Development Application (DA) – enough information is included on the plans to satisfy the council</li>
<li>Construction Certificate (CC) plans –more detail, including engineer drainage and slab design</li>
</ol>
The starting point for our build estimate will be based on similar projects that we have recently completed and an allowance for the different site.
This progresses to an estimate based on the concept plan. Still a very loose estimate, as there is usually not enough detail on the concept plan for the builder to have all information he needs. The build estimate we have at this stage will tell us whether we are tracking within budget. If not, we can make the necessary changes required, perhaps reducing the size of the villas working with both our builder and architect to design the right dwellings for our project to be successful.
Once the concept plan is approved, the architect will proceed to full DA plans. It is here that much more detail is added and we will have our builder price the DA plans. Again, this does not give us a final build cost but we will be getting closer to the expected outcome. Once approved by our client, the DA plans are finalised and the DA is prepared.
During the DA process, council may request some changes to the plans, so it is important to understand we are still ‘evolving’ at this stage. We also need to review the conditions of the DA consent before we have more detail to finalise the build costs.
Once the council has approved the DA, we will start to prepare the CC plans. Engineers will be briefed and a drainage and engineered slab design or footings for the foundations will be produced. More detail is added to the CC plans, finalising levels and double-checking schedules.
Before we lodge the CC plans with our private certifier we will have our builder issue a third costing. It is this costing that will give us the final build costs...well, almost. We still need to have the CC approved and ensure there are no further revisions to the plans required.
After we have the CC-stamped plans, our builder will issue his final tender and building contract. This will be a fixed price contract; however, there may still be a few items that will be provisional. They are usually some site works, removal of fill and retaining walls. The builder may mark these items as provisional as he won’t know until works proceed exactly what the cost is. For instance, if rock is hit during the site cut, this will increase the site costs. If the site cut differs slightly to the plans, this may impact on the height of retaining walls. So these provisional items will be charged at actual cost whether it is lower or higher.
So you can see how the build estimate must evolve through the development process and until your development is completed, you really won’t know the exact cost. It’s important you allow a contingency amount for any variations that may crop up along the way.
As a developer, you will embark on a challenging journey from start to finish and the path you choose can be simplified with the help of a project manager to guide you along the way. Always take the time to have full builder’s estimates done at each stage to avoid any nasty surprises.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" target="_blank" title="Property Bloom" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

Development costs can be difficult to predict

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Over the last three weeks a number of articles have been published in The Age that have raised some questions about the integrity of our collection method, the clearance rate and the number of sales. As a result some people are concerned that the results published may not be representative of what is occurring in the market.
While we welcome scrutiny of the sales results collected and the clearance rate calculation, it is important that we set the record straight. The REIV provides all the sales results we collect each weekend to the media, this weekend we will collect approximately 1000 sale results. While we make every effort to collect each and every sale, there are some, around four a week, are not reported to us. It has been reported that some sales are reported with an undisclosed price. The vendor has a legal right to request that their sale price is not reported.
It is important to understand there is no legal requirement on agents to report for publication any sales results; the REIV encourages members to report to us so that the public can form their own view on the market.  In fact it was the REIV that started collecting and reporting both auction results and private sale results in 2004, this had not been done before.  Some other companies, including RP Data and APM, also collect results, but the REIV has the highest rate of collection which is why it is used by the media.
These results are first published on Saturday evenings on the <a href="https://www.reiv.com.au/Property-Research/Latest-sales.aspx">REIV website </a> and <a href="https://www.realestateview.com.au/propertydata" target="_blank">propertydata.com.au</a>. They are also published in the Sunday Age and Sunday Herald Sun.
The clearance rate is available on <a href="https://twitter.com/REIVictoria" target="_blank">twitter </a>at around 6.30pm on Saturday.
Due to the need to meet newspaper printing deadlines, the collection of results closes at 5pm on a Saturday and 4pm on a Sunday. Results of auctions that the REIV understands to have occurred that are not received at that time are classified as "no result". On Monday the REIV contacts these agencies and updates the clearance rate with these additional results on a Wednesday and produces a revised clearance rate.
The REIV is committed to providing transparent information about the Victorian property market and will continue to do so to help buyers, sellers and our Members.
How the clearance rate is calculated
Each week the REIV calculates the expected number of auctions to be held based upon the number of properties advertised for sale.
First calculated on a Saturday and then updated on a Sunday and Wednesday, the clearance rate is calculated by dividing the total of those sold before, sold at auction and sold after by the number of reported auctions.
Auctions that are postponed or withdrawn are not included because they have not been subject to a full campaign. In the last four weeks there has been an average of five postponed and four withdrawn per week. Over the same time there has been an average of four results where we have not been able to obtain the result.
Classifying results
Over the past seven years the REIV has adopted the same methodology for classifying results.
<ul>
<li>Sold Before: Sold Before describes homes listed for auction but sold before the auction.  Depending on market conditions around 20 per cent of all homes offered at auction are sold before auction day. </li>
<li>Sold: Sold describes homes that are sold to the highest bidder at the auction or after the auction on the same day. </li>
<li>Sold After: Sold After describes homes sold the day after the auction and which are subject to auction conditions. This occurs for only a few homes each week. </li>
<li>Passed In: Passed In describes homes that are not sold. In this case, the buyers have not met the price expectations of the seller. </li>
<li>Passed In on a Vendor Bid:  Describes homes that are passed in but when the last bid was a vendor’s bid. It is a legal requirement that this information be disclosed if the result is published. </li>
</ul>
Example
<ul>
<li>A home is listed for auction at 3pm on Saturday. </li>
<li>If the home is sold on Friday, it is classified as Sold Before. </li>
<li>If the home is sold to the highest bidder at the auction it is classified as Sold. </li>
<li>If the home is sold by negotiation after being passed in on the Saturday it is classified as Sold. </li>
<li>If the home is sold on Sunday under auction conditions it is classified as Sold After. </li>
<li>If the home is sold on Monday it is classified as a Private Sale.</li>
</ul>
Enzo Raimondo is the CEO of the<a target="_blank" title="REIV" href="https://www.reiv.com.au/"> Real Estate Institute of Victori</a><a href="https://www.reiv.com.au" title="REIV" target="_blank">a.</a>
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enzoraimond-7fvRFHPR52

REIV authoritative source for clearance rate figures

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The 2261 postcode – on the Central Coast in New South Wales – dominates the list of the top 10 longest property listings produced by SQM Research.
The listings date back to 2008.
The listings are at Long Jetty and Magenta.
“SQM Research has explored this theme before and what we have found most interesting is that often the properties that have been sitting on the market the longest aren’t actually the most discounted,” says SQM director Louis Christopher.
“In fact, only one of the properties featured in the list has featured in our top 10 most discounted properties at Swan View.
“Most of the stale homes have only been discounted minimally if at all,” Christopher says.
Some of these properties might have been withdrawn temporarily and put back on the market at some point during the time they have been listed, he says.
“It’s almost considered common sense – not only to the astute investor that if your property is not selling after a considerable amount of time on the market, it may be a good idea to lower your asking price.
“When you have properties such as <a target="_blank" title="188 Liverpool ROad, Goolwa" href="https://www.domain.com.au/Property/For-Sale/House/SA/Goolwa-North/?adid=2006953157">188 Liverpool Road Goolwa</a>, which have been sitting on the market for over 1000 days yet only discounted by 16%, one can't help but feel very little sympathy for vendors who obviously can see that their current asking price isn't working for them and still refuse to bite the bullet and slash it,” Christopher says.
1
<a target="_blank" title="11 Ottiwell Street" href="&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007103693">11 Ottiwell Street, Woorim, QLD, 4507</a>
On the market since: April 19, 2008
Initial asking price: $560,000
Current asking price: $499,000
Reduction: 11%
Days on market: 1,192
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">2</h2>
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;"><a target="_blank" title="188 Liverpool Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006953157">188 Liverpool Road, Goolwa, SA, 5214</a></h2>
On the market since: April 24, 2008
Initial asking price: $950,000
Current asking price: $800,000
Reduction: 16%
Days on market: 1,187
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">3</h2>
<a target="_blank" 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, TAS, 7120</a>
On the market since: May 22, 2008
Initial asking price: $260,000
Current asking price: $205,000
Reduction: 21%
Days on market: 1,159
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">4</h2>
<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: 1,157
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">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" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">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: 1,145
 
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">6</h2>
<a target="_blank" title="4/57-59 Eloora Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007886563">4/57-59 Eloora Road, Long Jetty, NSW, 2261</a>
On the market since: June 5, 2008
Initial asking price: $379,000
Current asking price: $340,000
Reduction: 10%
Days on market: 1,143
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">7</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: 29%
Days on market: 1,131
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">8</h2>
<a target="_blank" title="15/57-59 Ocean Parade" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007897626">15/57-59 Ocean Parade, The Entrance, NSW, 2261</a>
On the market since: June 19, 2008
Initial asking price: $289,000
Current asking price: $259,000
Reduction: 10%
Days on market: 1,129
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">9</h2>
<a target="_blank" title="30 Charles Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006717702">30 Charles Street, Triabunna, TAS, 7190</a>
On the market since: June 22, 2008
Initial asking price: $235,000
Current asking price: $195,000
Reduction: 17%
Days on market: 1,128
 
<h2 style="outline-style: none; outline-width: initial; outline-color: initial; font-size: 18px; font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; line-height: 21px; padding: 0px; margin: 0px;">10</h2>
<a target="_blank" title="22 Beach Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491">22 Beach Street, White Beach, TAS, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,119
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Top 100 Biggest Bargains in Australia </a>for sale.
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NSW Central Coast dominates top 10 longest property listings

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A new development in the Brisbane suburb of Hamilton will challenge space-spoilt Queenslanders to live in cleverly designed smaller digs.
Foreshore House, being developed by Mirvac, comprises 263 one- and two-bedroom apartments, which range from 50 to 105 square metres.
“What Mirvac have done I think is quite different to what they usually produce in that the size will be smaller,” says Mirvac sales consultant Cecilynne Jurss. “They’re basically designing smaller units that are very liveable. They’re not compromising our quality in any way, but being clever in small space.”
The 145 one-bedroom apartments, which range in size from 50 to 58.5 square metres, begin at $345,000, and pricing for the 118 two-bedroom units, which range from 73 to 105 square metres, starts at $495,000.
Foreshore House will include a swimming pool and communal areas, and Mirvac Queensland chief executive Matthew Wallace says its design was inspired by the tony Soho House in London, which was founded in 1995.
“In the same way as Soho House operates, Foreshore House will be a sanctuary for residents and their families and guests, and in many ways provide an extension to their personal apartment’s living space,” Wallace told the Courier-Mail.
Jurss says the units in Foreshore House will appeal to both owner-occupiers and investors, but Mirvac is focusing on the local, rather than overseas, investor market.
“Rental markets continue to tighten resulting in improved yields for investors. This trend is likely to continue into the foreseeable future with vacancy rates remaining very low,” RP Data head of research Tim Lawless said at a Mirvac-sponsored forum before Hamilton’s launch.
“Unit markets have seen an upwards shift in demand levels as more buyers opt for medium- and high-density living.”
Jurss says the target demographic for Foreshore House ranges from young, single women through to couples with a child and retirees. She says the development will appeal to people who want “everything at their fingertips”, as the suburb of <a target="_blank" title="Hamilton" href="/news">Hamilton </a>has a range of entertainment and retail options.
Construction is expected to begin in January of next year, and is due to finish at the end of 2013.
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New Brisbane development to offer small but 'clever' units

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A lot of emphasis is put on clearance rates each week – particularly in Melbourne and Sydney (the two main capitals of Auction sales), however few people really understand what the clearance rate represents. The broad assumption is that “sold at auction” equates to sold “under the hammer” and a high clearance rate means the market is “flying” while low clearance rates depict the opposite. However, it’s not quite so simple.
The clearance figure released on a Saturday afternoon factors in every property that has sold “under the hammer” and also sold via post-auction negotiation. The difference between the number of homes that sell out in the public arena and those that sell via negotiation always tends to fall in favour of the latter. In other words, in our experience, more homes sell via negotiation.
Without attending every auction individually it’s impossible to assess which have sold via post-auction negotiation or reached their reserve with heated competition outside the property – however, it gives a snapshot of the number of homes which have sold on the day as a direct result of the auction’s marketing campaign.
A lower clearance rate can be a combination of many factors, such as high vendor expectation or low buyer activity. It can also be influenced by larger than usual number of listings being auctioned on a particular day resulting in a lower-level buyer competition around those that don’t stand out from the crowd.
Conversely, a lower number of properties auctioned on any weekend can have the reverse effect and produce a higher clearance figure than would be typically expected. It’s important to understand the clearance figure only relates to a small proportion of the market, because most homes are sold via private treaty (the ratio is approximately 70% private sale, 30% auction sale). It also only applies to the metropolitan market, as properties in outer-metro or regional areas generally aren’t marketed for auction.
The other problem with clearance figures is that their accuracy relies on independent agent reporting, which can obviously be manipulated when not audited. Selling agents are required to work in the best interests of their vendor. Therefore they will naturally not disclose prices if asked not to do so. Some are also less likely to report an auction as passed in on the day if lengthy negotiations are still ongoing with buyers who attended the auction (including those who chased up the reserve price post auction in the hope of securing a bargain). Therefore, if the property is sold via post-auction negotiation, there can be a delay in figures being reported.
Sometimes during an auction when there is not much heated competition, the vendor may decide to alter the reserve price, thereby encouraging the agent to pass the property. After all, without this additional negotiation, the vendor will only obtain a figure one bid higher than the under-bidder. The vendor is perfectly entitled to do this.
 
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Obviously the attraction of listing a property for auction is the hope heated competition will push the price over and above expectation. An auction campaign is generally a short four-week process – typically three weeks of marketing, with the auction taking place during the fourth week. It often results in a successful sale because by all intense purposes, it puts pressure on buyers to act within a short time frame. Also – under auction conditions – once the property is sold, the sticker goes up! There is no cooling-off period, no subject to finance – the buyers must do due diligence prior to auction day.
However, when vendors list a property, they also understand that the auction is essentially a three-stage process during which the property can sell before auction, under the hammer, or post auction. Those properties that fail to sell under the hammer or via post-auction negotiation generally sell within two weeks as a direct result of marketing. As any selling agent will tell you, once an auction has failed, there are usually numerous calls from buyers wanting to know the reserve price, assuming that the “failed” auction will result in added pressure for the vendor to sell and reduce price expectation.
So how important is it to monitor the clearance rate? When the RBA assess house price movements it takes into account a broad range of data collected from suppliers such as RP Data-Rismark, APM and the ABS. It also monitors monthly movements and clearance figures. If there is any doubt about the accuracy of reported clearance figures – or whether there should be some differentiation between properties that sell under the hammer, compared with those that sell via negotiation – it’s worth noting the graph on the RBA website, which shows a very close correlation between month –to-month price growth and clearance rates.
<img src="/images/stories/cashmoreaugust2.jpg">
The fact that both clearance figures are low and overall turnover is low indicates perfect conditions for those wanting to step in. However, caution prevents most buyers acting against the herd mentality and purchasing while there is apparent doom and gloom flattening expectation and providing better buying conditions.
This is understandable – after all, to the average Australian, the family home is not just a place for shelter, it’s one of the biggest purchases they’ll make in a lifetime, and their future security. For this reason, caution must always rule the heart and buyers cannot afford to enter the market on a whim without plenty of due diligence. However, if you are planning on purchasing, waiting for certainty to set in and the spring market to kick off is not necessarily the best answer.
We should however avoid making broad statements about real estate because the Aussie market is fragmented – despite the 12-month “correction”, some suburbs have continued to outperform overall flat conditions – and some have yet to fall. Each property has its own intrinsic quality, and part of purchasing well is understanding the long term value of what you’re assessing. 
You’d be woefully ignorant if you still live under the conception that purchasing real estate is a simple as paying the price listed on the price tag. There is more than one number involved in any negotiation and assessing a property’s worth takes into account a number of factors.
The agent is only interested in meeting vendor expectation. The buyer is only interested securing their dream property for the lowest price possible. The valuer only cares about market value... and so on. Therefore, if you want to place yourself ahead of the competition, employing a savvy negotiator with plenty of experience to understand these fractions is a step in the right direction.
Catherine Cashmore is senior buyer advocate for JPP Buyer Advocates – the largest dedicated buyer advocacy service in Victoria. With extensive experience in all matters regarding real estate, JPP successfully purchases and negotiates more than $100 million worth of property each year. <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.jpp.com.au/">www.jpp.com.au</a>
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There's more to clearance rates than meets the eye

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There's no escaping the fact that currently it is a tough market to sell. We are finding that auction is a great method as it motivates buyers to make a decision to purchase in a set time frame and is achieving good price results for our vendors. 
Our auction campaign clearance rate over a three-phase campaign is 70% at present. 
At a recent auction in Parkside in South Australia, we had strong interest and three registered bidders. The three bedroom townhouse sold under the hammer for $340,000, which was a price we don't think we would have achieved if the property wasn't under auction conditions.
<ul>
<li>The merits of going to auction in the current market are that auction: </li>
<li>Gives vendors an opportunity of getting a cash unconditional contract.</li>
<li>Gives a time frame to purchasers to organise there purchasing position.</li>
<li>Allows the market to give indication on market price from feedback.</li>
<li>Even if property does not go on auction day, you will have three weeks of "gold" information to use when setting a price to take it to the market with so you don’t price it out of the market place.</li>
</ul>
 Properties with large buyer groups, development opportunities, family homes, and anything the agent believes is going to have good competition will be the best to market in the final stages of winter and into the onset of spring.
 Additionally a property that is hard to identify a true market value for would be good to list and sell now and quite simply leaving it up to the market to decide its price.
Michael Fenn is principal of<a target="_blank" title="LJ Hooker Greenwith" href="https://www.google.com.au/search?rlz=1C1CHKB_en-GBAU429AU429&amp;sourceid=chrome&amp;ie=UTF-8&amp;q=lj+hooker+greenwith"> LJ Hooker Greenwith, SA</a>
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Auctions motivate buyers, even in tough markets

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Auctions are still the best way for committed sellers to attract buyers, no matter the state of the market. An auction sends a direct signal to buyers that a vendor is committed to selling a home, even in challenging times. It also gives people confidence they are paying fair market value for a home.
Raine &amp; Horne Crows Nest recently sold a two-bedroom, one-bathroom semi-detached home at 81 West Street, Crows Nest, for a price significantly above expectations at $1.125 million. David Hill, principal of Raine &amp; Horne Crows Nest, notes that the West Street auction was attended by 100 people, with six registered bidders. “We realised the property would be popular, while the owner’s commitment to sell, made this a good property to take to auction,” he says.
It is true auction campaigns are popular when the property market is robust, but it can also work in softer markets. This is because with an auction there is a defined timeline built around the sale of a property which is appealing to serious buyers.
This often makes the auction process a sensible choice when the market is dropping, because it restricts the selling timeframes.
Many auctions result in a sale, even if not immediately on auction day. Although a property may not always sell under the hammer, it is rare that we would not sell all of our auction listings within one or two weeks after the auction process. In fact, the best agents and auctioneers are working together with buyers to set a platform for the property to sell immediately after auction, and this is where we are seeing most of the activity at the moment.
In a market where agents face the challenge of matching sellers with buyers, auctions provide the vital middle ground. This is because many buyers are seeking a bargain, while a significant number of owners are still hoping their property is worth the same amount as 12 months ago. There are plenty of buyers in the market, and auctions can bring these buyers together with an owner to agree on a price. This doesn’t happen when you have one buyer and one owner, as is often the case with a private treaty sale.
Where properties don’t sell at auction, this is because the owner has set an unrealistic price, or there are some due diligence issues for buyers to sift through. However, those listings that typically sell well at auction include straightforward properties, such as freestanding homes in good streets with single tenants.
David Scholes is chief auctioneer for <a href="https://www.raineandhorne.com.au/" title="Raine &amp; Horne" target="_blank">Raine &amp; Horne</a> Auction Service
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Auctions still the best way to find committed buyers

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One of the biggest misconceptions about auction is that many agents think that if they auction a property buyers will compete and the property will sell above expectations. One of the great benefits of auction is that you give yourself the opportunity to create a competitive environment, but if you haven’t done the work leading up to the auction then no method of sale will save you.
You need to understand that auction is simply a method of sale. We use auction to reduce the number of days on market, create a competitive environment and gain maximum exposure for the property with a condensed marketing strategy. Essentially this means that by creating urgency around the sale and reducing the days on market we can sell more real estate.
Days on the market here are key. The longer a property sits on the market the more chance it has at selling at a reduced rate.
Valuing real estate can be quite difficult. It is difficult for an agent, but even harder for a vendor/seller. This is particularly the case in a changing market, like what we are in now. Auction removes price as a barrier and invites purchasers to make offers on auction day and the seller can either accept that offer or reject that offer.
Every seller thinks their home is generally worth more than what it really is, myself included. Because we build up an emotional attachment, we feel “it has to be worth ….”. The reality of any real estate transaction is that a property is worth what someone will pay. The role of the agent is one to market a property in such a way that will get buyers to the front door, it is the seller’s role to present the property in such a way that an emotional connection can be built between a purchaser and a property, and auction brings this to a close in a shorter period of time than any other method of sale.
One of the great fears a seller has is “what if it doesn’t sell?”. Simple, we move to the next stage of the selling process with either a price guide or for sale at a price. We now will have a much better gauge on what that price should be if we get to this point.
An owner who doesn’t want to pay for a marketing campaign in the majority of cases is not a motivated seller and one who will come on the market at an inflated fixed price.
It is essential that you choose the right auctioneer to represent your business and your sale. The auctioneer is your brand. The auctioneer represents your interests. The difference between a good auctioneer and a great auctioneer can be a good price or a great price.
This is the data we have put together for the first six months of the year. It is put together from 1,825 residential auctions that we have done from January 1 to June 30, 2011. The figures show us accurately when properties sell post auction.
 Damien Cooley is the founder of <a target="_blank" title="Cooley Auctions" href="https://www.cooleyauctions.com.au/">Cooley Auctions.</a>
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An auction won't save a badly marketed property

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Darren Lockyer, the 36-time Queensland State of Origin team hero, has listed his Brisbane house for August 6 auction in a big test of the city’s seriously challenged auction market.
Brisbane’s auction clearance rates have hovered around 23% so far this year, according to Australian Property Monitors.
The property has also been scheduled for auction six days after the Queensland government’s unpopular stamp duty increases come into effect in Queensland.
The contemporary Paddington property cost Lockyer $1.49 million in 2004.
The five-bedroom, three-bathroom place might be expected to fetch around $2 million based on the standard growth (and then decline) experienced in Brisbane over the past seven years. A nearby $2.15 million will have given Lockyer some comfort.
No public price estimate has been given by its listing agents Tim Douglas and Gail Miller at Place Estate Agents.
Naturally it comes with barbecue facilities that befit any Queenslander sportsman.
In 2007 Lockyer married Loren Pollock, his girlfriend of three years, who gave birth to their first child, Sonny James, in early 2010.
In March the Broncos captain announced he will retire from all forms of rugby league at the end of the NRL season, his 17th season in first grade.
Tim Lawless at RP Data says real estate professionals had reported some improvements in buyer activity in the Brisbane market leading up to the end of July.
Although only anecdotal, early sales information collected by RP Data suggests a surge in transactions as buyers bring forward their purchase decisions in order to avoid the stamp duty changes announced in the June 14 budget, which are due to take effect on August 1.
“The surge in buying activity was to be expected, with owner-occupier buyers likely saving themselves around $7,000 in stamp duty expenses if they purchased prior to August 1,” Tim Lawless, the RP Data head of research says.
“The improvement in sales activity leading up to the end of July is likely to be temporary: the result of buyers rushing to avoid the higher stamp duty costs for owner occupiers from August 1,” Lawless says.
“The higher stamp duty rate for owner occupiers comes at a time when transaction volumes are running about 30% below the five year average across Queensland and the duty changes are likely to act as a further disincentive for buyers to become more active. 
“The dampening effect of the higher stamp duty rate for owner occupiers may be partially offset by the $10,000 builders boost, however the grant is only available until the end of the year whereas the stamp duty changes are permanent.”
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Darren Lockyer's Brisbane house for sale in tough selling season

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1131 Plenty Road, Bundoora, VIC, 3083
<img src="/images/stories/plentyroad.jpg"> 
This four-year-old contemporary townhouse is currently leased to excellent tenants at $555 per week. It was sold by <a href="https://www.raywhitebundoora.com.au/buying/search/detail.aspx?id=RWB1546&amp;wlid=cdacf6e5-4900-446f-9f29-6c7b277291e2" title="Ray White Bundoora" target="_blank">Ray White Bundoora</a> agent Joshua Allison at auction on Saturday, July 30, for $402,500. It had price hopes of $390,000 before auction. It will net its new owner yields of 7.1%, far above the indicative rental yield for Bundoora houses of 3.7%, according to RP Data. The three-bedroom, three-bathroom house is well situated to appeal to tenants, as it is between La Trobe University and RMIT and close to the 86 tram and Bundoora's shopping district. 
For more information about indicative yields and average prices in Bundoora, visit the RP Data suburb page.
For other investment possibilities going to auction this weekend, see pages 2 and 3.
 
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52/1 Maddison Street, Redfern, NSW, 2016
<img src="/images/stories/maddison.jpg"> 
This light-filled three-bedroom apartment in Redfern is close to shops, transport and cafes and could be appealing to tenants. The building includes a pool, gym, sauna and rooftop terrace, and the 115-square-metre apartment has a large balcony. It is being marketed by <a target="_blank" title="Kho and Lee Property" href="https://www.khoandlee.com.au/properties/470085/details">Kho and Lee Property </a>agents Sami Yildiz and Patricia Kho with price hopes of $640,000 plus. The property has the potential to rent for $700 a week, which would represent a yield of 5.7% at the asking price. This is well above the indicative gross yield of 4.9% in Redfern, according to RP Data. The property went to auctino on Saturday, July 30 but was passed in. Its price expectation remains $640,000.
For more about indicative gross yields and average prices in <a target="_blank" title="Redfern" href="/news">Redfern</a>, see the RP Data page.
 
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71 Newton Road, Newton, SA, 5074
<img src="/images/stories/newton.jpg">
This three-bedroom property needs some work, but after renovations it could be a good investment property, as it is close to major shopping strips, transport and schools. Indicative gross rental yield is 4% in the suburb, and after an upgrade 71 Newton Road could be an attractive prospect for tenants. It was brought to auction by <a target="_blank" title="Elders Real Estate" href="https://www.eldersrealestate.com.au/residential/buy/property-house-sa-newton-463677">Elders Real Estate </a>agent Bill Gent on July 30 but was passed in. Its price expectations remain $350,000 plus. 
For more about indicative rents and prices in <a target="_blank" title="Newton" href="/news">Newton</a>, see the RP Data suburb page.
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