<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

<html><body>
It was the height of the boom in 2004, and as we walked our little girls around Glenwood, watching new houses being built, we discussed whether they will ever be able to afford a house when they grow up. In our suburb alone, prices were conservatively in the high $600,000s. During this walk we had a discussion that changed our lives. John knew a fellow policeman who was investing in property – so if they could do it on a policeman’s wage, why couldn’t we?
Not long after this conversation, on my regular train commute to work, my thoughts were consumed with property. I looked up and saw a ‘for sale’ sign on a property that was located literally opposite the Harris Park train station.
When I tried to search for that particular property on the internet, I couldn’t find it, but the first listing that popped up grabbed my attention. It was in dire need of help – bright blue, smoke-grimed walls, crappy carpet and hodge-podge kitchen – and it was cheap at $190,000.
At the time, prime-time TV was all about renovation rescue shows and I was caught up in the hype of it all. I thought, “Let’s go and renovate!” It wasn’t the thought of making lots of money that was driving me – just the idea of renovating.
I just really wanted to buy something and when I viewed the property, I saw the renovation potential. I perused the local newspapers to see how many other properties were on offer in that price range and to see how much a one-bedroom unit rented for. There wasn’t much to go by, so I called the agent to view the property and subsequently made an offer of $180,500, and it was accepted.
Before I put any money down, though, I had to convince John that it was a good buy. He came down and viewed the unit. I don’t think he was that enthused – he knew I just wanted to buy something for the sake of buying something. Still, he gave me the green light. Even my mortgage broker tried to talk me out of it, but I was adamant: this was going to be our first step towards financial freedom through property investing. I just knew it!
So where did we go wrong?
This renovation-rescue, one-bedroom unit was under 50 square metres, which made it more difficult to secure funding. Banks prefer to see properties that are at least 50m2 in size, as it means that a wider pool of people – including singles and couples – could potentially live in the property. We paid approximately $2,500 in lender’s mortgage insurance for the privilege of buying under 50m2. It was also in a 1970s red brick building and we purchased at the top of the <city><place>Sydney</place></city> boom, which crashed all of two months later.
We spent $5,000 on renovations, including replacing carpet, painting, light fittings and kitchen cupboard handles. John’s nightmare renovation task was to the paint the very 70s vermiculite ceiling – as he learnt, that stuff has limitless potential to soak up paint and our money.
As it turned out, it wasn’t the most astute investment decision we could have made. Over the past five years, the property actually decreased in value by about $5,000 – even with the renovations. Only in the past six months have we seen capital growth. But every cloud has a silver lining and in this instance, our mistakes have been softened by the property’s strong performance in the rental market. It’s always had good tenants and it takes care of itself, so we don’t have to think about it. Utopia would be for a developer to knock the whole block down, so there could be further potential there.
The facts
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="95">
Purchase Price 2004
</td>
<td valign="top" width="95">
Current value 2010
</td>
<td valign="top" width="91">
Rental start
</td>
<td valign="top" width="90">
Rental current
</td>
<td valign="top" width="90">
Yield current
</td>
</tr>
<tr>
<td valign="top" width="95">
$180,500
</td>
<td valign="top" width="95">
$200,000
</td>
<td valign="top" width="91">
$150
</td>
<td valign="top" width="90">
$290
</td>
<td valign="top" width="90">
8.35%
</td>
</tr>
</tbody></table>
This is an exerpt from  <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.ipip.com.au/" title="Journeys Along the Property Path" target="_blank">Journeys Along the Property Path: 12 real life stories of 12 property investors</a>, published by Inspirational People in Property. Two of the authors are fighting breast cancer, and IPIP has aligned with the McGrath Foundation to raise money to fund McGrath breast care nurses in communities across Australia and raise awareness of breast cancer, particulary among young women. The <a style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;" href="https://www.facebook.com/inspirationalpeopleinproperties" title="Keep up with the campaign" target="_blank">initiative </a>aims to sell 9,000 books to raise $90,000 to support the McGrath Foundation. 
</body></html>

swarniecondon-aTY2bgqmPh

How a simple conversation sparked a property addiction

<html><body>
Once you have made the decision to sell your property, the next step is to determine whether you wish to hire a real estate agent to act on your behalf. An increasing number of sellers are choosing to go the ‘DIY’ route, also known as ‘for sale by owner’.
Both approaches have merits and require careful consideration. Regardless of which approach you choose, there are common pitfalls for all property sellers.
1. Hiring the wrong agent
One of the most critical decisions early in the process is the selection of agent (if you choose to have one). Not selecting the right agent can significantly affect the outcome of the sale.
Be careful not to select an agent based on commission alone. Afterall, the cheapest agent is the one who can get you the highest net selling price.
Sellers should also be wary of selecting an agent based on an inflated appraisal of the property. This practice is commonly known in the industry as ‘buying a listing’. Another common mistake sellers make is to select an agent who is out-of-area, usually due to a personal relationship or recommendation. Property markets vary greatly and out-of-area agents often lack local knowledge and the ability to interpret market nuances.
Look for an experienced agent who has a proven track record of selling properties in your neighbourhood. Ask for and personally verify references from past clients. Find out how many listings the agent will have in addition to yours and who will be present for the open inspections.
You must pick a selling agent you can trust and can communicate openly with. They are your representative and should work in your best interest at all times. If you don’t trust your agent, any negotiation with a buyer will be a three-way one and won’t lead to an optimal outcome.
2. Unrealistic price expectations
All properties can be sold. It is just a matter of price. Too often, sellers are fixated on a target price based on the net proceeds. This pricing strategy often leads to an overly ambitious price expectations. While a seller can have whatever asking price they want, buyers reserve the right to disagree. At the end of the day, the market value for a property comes down to what the buyer is willing and able to pay today – not yesterday and not tomorrow.
3. Not understanding your rights and obligations as a vendor
It is important that all sellers are educated about their rights as well as their obligations as vendors. Be thorough in reading the fine print in legal documents (such as the Agency Agreement) and don’t hesitate to seek advice from the Office of Fair Trading, or your legal representative if necessary.
4. Not selecting the appropriate method of sale
There are two main methods of sale: private treaty or auction. All sellers will have to make a decision on whether to put a sticker price on the property and sell it via private treaty or take the property to auction. Both methods have pros and cons and neither are foolproof. Much depends on the prevailing market dynamics, which may favour auction in a sellers’ market and private treaty during a buyers’ market, for example. Whether you choose to sell by private treaty or Auction also depends on the type of property being sold. Agents often have a preference for one method of sale over another and sellers should discuss both options with the appointed agent. At the end of the day, sellers need to make an informed choice and be comfortable with the chosen method of sale.
5. Not doing own research and homework
At every step of the process, sellers need to invest time and effort to do their own research. Prior to selecting an agent, go around to nearby open inspections and auctions and see how the agents conduct themselves. Interview at least three agents and be strategic with the questions you ask them. Throughout the selling process, attend as many open inspections and auctions as possible in your neighbourhood. This will help you to get timely first-hand information on market sentiment as well as enable you to analyse competing properties.
6. Not taking presentation seriously enough
When you are selling a property, you are not merely selling bricks and mortar. You are also selling a dream. Therefore, the property needs to be presented in such a way as to appeal to the targeted buyers (be they owner-occupiers or investors). While staging or styling is increasingly common and can be very effective, it is still possible to present a property nicely without a substantial budget. Some of the best return-on-investment can come from de-cluttering, mowing the lawn, improving the curb appeal of the property, painting, etc. Investing in strategic cosmetic fixes can also be rewarding. Be careful, though, not to over-capitalise on any pre-sale renovation.
7. Poor marketing
You can't sell a property if nobody knows about it. Marketing (of which advertising is one key component) is essential to getting people through the door and needs to be managed strategically according to your budget. The amount of money spent on advertising can often be indicative of how motivated the vendor is to sell. The more a vendor spends out-of-pocket on advertising, the more invested they are in the selling process.
Due to the costs, vendor-paid advertising can be a controversial issue as some sellers feel they are paying to promote the branding of the agent/agency. As advertising outcome can also be difficult to track accurately, many sellers are not convinced of the return on investment. The good news is that more and more people are searching for properties online and internet advertising is a cost-effective option.
Irrespective of whether you have a mansion, a unit, a renovator’s delight or just a piece of land, invest in professional photography to make sure your asset is shown in the best light.
8. Getting too emotional and not listening to market feedback
Every home owner thinks their property is better than their neighbours’. Sometimes the emotional attachment to the property can cloud your judgement as a seller and prevent you from listening to genuine market feedback. A property ceases to be a ‘home’ and becomes a commodity as soon as it is placed in the marketplace. It needs to be marketed as a commodity and priced relative to competing properties to be attractive to buyers.
While it is not possible to be entirely objective, sellers need to try to take a step back and assess their situation in a business-like manner and take into account opportunity costs involved with a drawn-out sale. Time is money and there can be significant costs if a property lingers on the market.
9. Not timing the sale
Many sellers want to sell their property when it is looking its best. Hence spring and summer often see more listings than winter. However, timing the sale is not just about picking the nicest season. Sellers also need to consider the level of competition for their property at any given time. Keep in mind that in peak selling periods, your agent is likely to have more listings to look after and may not be able to focus 100% on your property.
10. Not having a Plan B
Sellers are optimists and often make the mistake of not having a Plan B. Make sure you know what your options are if your property does not sell. Having a Plan B is all about control and can prevent you from getting too emotional and from making knee-jerk decisions.
Oliver J. Stier is the director of <a title="OH Property Group" target="_blank" href="https://www.ohpropertygroup.com/">OH Property Group</a>. In addition to being a licensed real estate agent, he is also a chartered financial analyst. You can follow Oliver on Twitter at <a target="_blank" href="https://www.twitter.com/ohproperty">www.twitter.com/ohproperty</a>.
</body></html>

oliverstier-Cu9aF99VRm

Top 10 mistakes property sellers make

<html><body>
Investors have begun snaring some quality industrial properties, as rentals begin to climb following a reasonably static past five years.
<img src="/images/stories/lang-chart-cropped.jpg">
As you can see from the table, this increase in activity has been reflected in the dominance of developers bringing new stock onto the market.
Plus, you'll notice that private investors have emerged as the major category of buyers for industrial property.
The current wave of development is catering for a much larger office component, relative to what is normally provided by industrial developers. So much so, it is now often as high as 40% of the overall building area.
This trend is being driven by occupiers wanting to combine their administration building, in top-quality accommodation, with their distribution facility, rather than leasing an outer-lying warehouse, and having their head office in a more traditional office location.
The bottom line is: many of the larger developments are occurring by way of a fully-integrated business park environment, catering for small- to medium-sized businesses.
 And this is providing investors with the opportunity to acquire affordable industrial properties, surrounded by all the amenities needed by those tenants who occupy them.
Chris Lang is a commercial property investor and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" target="_blank" title="Chris Lang's blog">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
</body></html>

chrislang-EQKojcgJPV

Savvy investors cash in as industrial occupiers change tactics 

<html><body>
While first home buyer numbers decline, rent-to-invest property buying appears to be on the rise, according market analysts and commentators.
Renter-investors refer to generally younger buyers who choose to forgo the first home owner grant and purchase an investment property as their first home.
Mortgage broker Smartline has noticed a growing number of first-time buyers who are foregoing the grant in order to get into the property market.
Earlier this year, Terry Burke, professor of housing studies at Swinburne University, estimated 11% of all residential properties are purchased by people who rent their own homes.
Burke says the rise of young "renter-investors" mirrors the decline of first home buyers.
According to latest Real Estate Institute of Australia statistics, first home buyers have declined to just 16% of new finance commitments in the March quarter.
At the same time, the number of borrowers taking out investment loans continues to hold steady. According to figures for June 2011 compiled by AFG, property investors still account for more than a third of investment loans (36.2%) recommended by its mortgage brokers.
Chris Acret, managing director of Smartline Personal Mortgage Advisors, says the growing number of renter-investors is being driven by a desire to live nearer to suburbs that suit their lifestyle, with attractions such as beaches, cafés, and city proximity) and nearer to their workplaces.
“With the cost of properties located in these ‘lifestyle areas’ out of reach for many first-home buyers, they’re taking a more creative approach,’ he says.
There are also financial incentives: if properties are held for a longer period of time, investors can draw on the equity to fund a home or additional investment properties and avoid paying selling costs and capital gains tax.
“There are also a range of options available to minimise cashflow shortfalls when owning an investment property, such as making interest only payments, maintaining depreciation schedules, conducting regular rent reviews, and having tax adjustments paid back to you monthly,” Mr Acret explains.
McGrath Real Estate CEO John McGrath has also noted more first home owners entering the market as investors.
Faced with prospect of renting for life to live in desirable lifestyle locations, McGrath says they are choosing to invest in properties outside the CBD inner ring.
He says while they must forgo the first home owner grant, there are significant tax benefits in being negatively geared.
Furthermore, he says strong rental returns make it easier to manage repayments on an investment loan.
“I have long advocated home ownership as a cornerstone investment in people’s financial future. However, I would rather see young Australians buying an investment property than doing nothing at all,” he says.
McGrath says renting-investing is entirely do-able if a buyer is on a good income.
While mortgage broker Mortgage Choice does not have specific data on renter-investors, a survey of 1,000 first home buyers carried out in February suggests a growing number are thinking along those lines.
It found that 14.2% of first home buyers who will purchase a home in the next two years intend to rent out one or more of the rooms, compared with 7.8% of  recent first home buyers who already rent out a room in their homes.
</body></html>

lschlesinger-FZcF9M3vE6

One in 10 buyers choosing to “rent to invest”

<html><body>
Subdivision is one of the many ways you can develop property. It involves converting one piece of land or existing dwellings into several.
Raw land subdivision entails legally and physically converting raw, undeveloped land into developed land so that one or more buildings – residential, commercial or industrial – can be constructed.
As you will be changing the land’s usage and appearance, for example, perhaps from a rural zoned paddock into a residential land subdivision, you’ll also be building the infrastructure required, such as roads, paths, drainage systems, water, sewerage and perhaps even public utilities such as a park.
You can also subdivide developed land – much more easily – by simply splitting a block in half.
Subdivision of existing buildings is the conversion of a single title to multiple titles. For instance, a block of 10 units on a single title – often referred to as units ‘in one line’ – can be converted into individual titles, such a strata title. This is a great way to add value to the properties and allows you to sell them individually.
Subdivision is a great development strategy for current market conditions. It gives you flexibility to play it safe and sell off a newly created piece of land to reduce your loan, or to hold and add value to the property by registering the new lots and holding, or further developing, them.
The objective here is to have a creative outlook while searching for potential subdivision sites as it is this creativity that can determine the success of the development.
When to subdivide?
An investor might buy a dwelling on a large piece of land, where they can renovate a house and then subdivide, or perhaps it is a homeowner living on a potential development site where subdivision may be permissible.
The site will, however, need to adhere to the council regulations. The first thing you need to ask the council is the minimum lot size. You can find this out from your council’s development control plan for subdivision and their guidelines.
The minimum lot size will vary from council to council, and in different zonings. For instance, the residential minimum lot size will be smaller than rural-zoned land. One council I work with has a residential minimum lot size of 450 square metres – so we can subdivide a 900-square-metre corner block into two lots.
However, if we had a 900-square-metre piece of land that was not on a corner, we could not subdivide this, as we need to allow for a driveway to access the back lot and the area needed for the driveway is in addition to the minimum 450 square metres. So we would need a block of about 1100 square metres to be able to subdivide and allow for our access handle.
Another type of property to look for is land with two street frontages, so if it is 900 square metres, you can cut it in half and each lot will have its own street frontage.
Different types of subdivision
When looking to develop with subdivision, it’s important you understand the different types of subdivisions. Getting professional advice will help you to make the best decision for your site and also which potential purchase will make the process through the council the smoothest.
Strata subdivision is dividing a property into separate units, apartments or villas. Strata is land title based on the horizontal division of air space and may involve common areas shared by each title holder and usually managed by a strata manager.
Torrens subdivision is dividing one land lot into two or more land titles. This form of subdivision gives the owner autonomy with their land as they don’t have to answer to the strata manager or adhere to strata rules and regulations.
Community subdivision is a development with common property such as roads may be used by all residents.
The figures
When budgeting for your subdivision, you’ll need to start with a realistic target for how much the completed development will be worth, and then subtract costs, to calculate profitability. It’s important to run a feasibility analysis on the subdivision (covered in last week’s article) including possible costs for stamp duty, legal fees, surveyor services, council application and developer charges, civil works and service connections such as gas electricity and water.
Make sure you discuss your subdivision strategy with an accountant and understand the possible tax and GST implications if you are planning to sell. You will also need to estimate your holding costs, such as interest on your loan and rates. Remember, if it’s a straight land subdivision you won’t have an income from the property to help offset your holding costs, so time is money in this type of development.
Location
Getting the location right can make or break your development success. Research is vital here to ensure you are building a property where people in that area want to live. You have to totally remove yourself from the development as you won’t be living in it – your target market will be.
Inner cities are limited with the availability of land, so in this case strata division is being created through developments. Looking up to two hours outside the city allows you to be more creative in your development, plus you can usually create a Torrens subdivision. There may also be more room for growth in the outskirts especially if there is some infrastructure taking place in that area.
Choosing the right property
<ul>
<li>The first thing you need to properly assess a potential subdivision site is a survey. It’s amazing how many sales contracts I review that do not have a survey. So you may need to pay for this before exchanging as you need to be sure of the land size and whether there are any easements affecting it. </li>
<li>Get sewer diagram. You need to know where the sewer is located and if it is feasible, based on the slope of the land, to cost effectively extend it to service a new lot. </li>
<li>Check the slope of the site for drainage issues.</li>
<li>Check the aspect of the site and think ahead about where any new dwellings will sit to take advantage of the aspect.</li>
<li>Research the zoning regulations and read the council’s subdivision guidelines.</li>
<li>Compare market value – is vacant land in demand?</li>
<li>Check service connections – is there sewer available in the area, is there an electricity source close by?</li>
<li>Corner blocks are good for your first subdivision </li>
<li>Structure of property – this is important if you are developing a strata division as the building will need to be structurally sound to handle the requirements, such as firewalls, between units.</li>
<li>Have your solicitor check for restrictive covenants or easements. You may find land in a new estate has a covenant over it that does not allow for further subdivision.</li>
</ul>
 
DA approval 
Getting a surveyor to manage your subdivision DA can save you a lot of time. If you’re researching a new area, start with a local surveyor. They can give you advice on the subdivision process and cost indications. You need to use a surveyor to prepare your subdivision plan.
Once you have abided by the council’s regulations, it is the residents you may need to win over. Generally if the land you’re subdividing meets zoning requirements and you comply with the subdivision development control plan, there should be little your neighbours can do about your subdivision, however it is always a nice gesture to talk to them about your plans.
I always look at the best way to subdivide as part of our development process; the way that will be most cost-effective and not hold up the development process. We have found in many instances it is not the most obvious way.
What may look like a simple subdivision can turn into months and months of complicated work. The plumbing and civil works alone can really blow out a budget, so it’s important to understand the entire process before you embark on your first subdivision.
There are many more things to consider when planning a subdivision, so make sure you engage professionals to assist if you’re a beginner. A development project manager will be able to work with you on every stage of the process and you’ll be amazed at how much you learn along the way.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
</body></html>

jochivers-wq5Bp59R5a

Subdivision: the most obvious option is rarely the best one

<html><body>
Lifestyle has always been a priority for young borrowers, but they’re now willing to explore options beyond the first home owner grant to balance property ownership dreams and lifestyle.
Renter-investors, a term coined by several leading property commentators, refers to generally young buyers who choose to purchase an investment property instead of their first home. It may be that while they can’t afford to buy in lifestyle areas, such as popular beach and inner-city locations, they don’t want to live where properties are cheaper.
These buyers are faced with opting out of property ownership and renting for the foreseeable future, or buying as an investor.
This shift in borrowers’ thinking is particularly strong in first home buyers, who are thinking outside of the square and, in some cases, foregoing the first home owner grant in order to get into the property market.
Not only do people want to live in areas that suit their lifestyles – near beaches or cafés or in inner-city suburbs – but they’re also keen to live close to their workplace so the commute to and from work does not eat into their valuable personal time.
With the cost of properties in these ‘lifestyle areas’ out of reach for many first homebuyers, it’s not surprising to see they’re taking a more creative approach.
Developing a strategy is critical
 
While all borrowers need to have a clear strategy, and structure their lending accordingly, it is particularly important for first-time renter-investors.
There are a number of considerations that first-time property investors need to think about.
For example, what is your strategy? Are you looking to buy and sell an investment property within five years or are you planning to purchase and keep it as an investment offering growth over a long period – say 10 or 20 years? Will you then draw equity from it to use as a deposit for a home or another investment property in the future?
It’s important to do your homework. Ask yourself why and where you’re going to buy your investment property, and what the expected capital growth rates and rental returns will be in the areas you’re looking to purchase.
The answers to these questions allow you to run projections of what sort of gains you could expect to make if you sell in the future.
Of course, you would also need to consider a range of costs, including buying and selling expenses, capital gains, tax implications and fees for professional advice.
Going it alone versus seeking advice
 
Property investors also need to consider a range of factors that are best discussed with your mortgage adviser, and then with your accountant.
For example, if you purchase an investment property with a view to selling it within, say five years, you will have to pay capital gains tax.
Conversely, if you’re going to hold the property for longer and draw on the equity to fund a home or additional investment properties, you won’t need to pay selling costs and capital gains tax and, as such, your mortgage broker can help you to structure your lending to suit.
There are also a range of options available to minimise cashflow shortfalls when owning an investment property, such as making interest-only payments, maintaining depreciation schedules, conducting regular rent reviews, and having tax adjustments paid back to you monthly.
Borrowers should discuss this with their mortgage adviser and accountant so they can structure their lending and finances to their advantage.
Apart from the convenience of having someone do all the investigation and legwork on your behalf, borrowers widen their choice of lenders and they receive credit advice from industry insiders – at no cost.
Mortgage brokers have access to a vast array of products and services across a panel of lenders so, unlike lenders, they’re not trying to sell their own products. Rather, they’re trying to tailor a solution that suits your personal requirements.
No two clients’ needs are alike and there is no such thing as a one-size-fits-all approach.
Renting-investing not just for first home buyers
 
Our living circumstances can change for a host of reasons. As such, the renter-investor approach isn’t just for first home buyers.
You may have received a job offer that requires you to move to an inner-city location, or you may just want to live in a suburb that offers the lifestyle you and your family desire. As a result you may decide to rent out your home and make it an investment property.
Likewise, you may live in an area that is currently achieving good capital growth and yielding excellent rental returns for homes like yours, so you decide to rent a smaller property elsewhere in order to rent out your existing home.
There are a range of reasons for choosing to rent while putting your owner-occupier property on the rental market.
Lenders are also keen to capitalise on the renter-investor trend, with a number now offering investment loans on 5% deposits.
Regardless of your circumstances, the advice of a quality mortgage adviser can prove invaluable to help you structure your lending and get the most out of your investment strategy.
Becoming a renter-investor:
 
<ul>
<li>Do your own homework and establish your strategy, property purchase and investment goals</li>
</ul>
<ul>
<li>Discuss these with your mortgage adviser, and then your accountant</li>
</ul>
<ul>
<li>Make a decision about your strategy and seek advice from your mortgage broker to develop a lending structure to complement your investment strategy.</li>
</ul>
<ul>
<li>Conduct regular reviews with your mortgage adviser and accountant.</li>
</ul>
 Chris Acret is managing director of Smartline Personal Mortgage Advisers and has been involved with mortgage broking for almost 20 years.
</body></html>

cacret-sAn44jXij6

Homework the key for growing renter-investor group

<html><body>
With Little Bay Cove prices to start from $475,000 for apartments, the first soil sod has been turned at the 13-hectare coastal Sydney site, marking the beginning of construction of Sydney’s newest residential coastal community.
Little Bay Cove, set at the southern end of the city’s eastern suburbs coastline, is a $600 million master-planned community being developed by Charter Hall, through its fund, CHOF5, in a development partnership with Malaysian-based, TA Global Berhad.
The site was formerly UNSW’s Little Bay Campus at 1408 Anzac Parade, Little Bay. The university took over the site after sand mining concluded in 1959.
Little Bay hit international headlines when international artists Christo and his wife Jeanne-Claude came to Little Bay in 1969. Jeanne-Claude and Christo put Australia on the map of international art when they wrapped the Little Bay coastline in fabric – reputedly the largest artwork produced anywhere in the world. 
The site’s history dates back to the arrival of smallpox in Sydney in 1881, when the government set up a temporary quarantine station on a coastal bushland site at Little Bay on the La Perouse Peninsula.
The camp was officially commissioned as a hospital and in 1934 it became the Prince Henry Hospital of Sydney – much of which has now become premium coastal housing estates.
The 13.6-hectare community will include 570 dwellings, with a selection of apartments, courtyard homes and vacant land lots for buyers to build freestanding homes.
The architects engaged by Charter Hall include William Smart, SJB, Fox Johnson and Tony Caro.
More than half the estate is intended to be open space, with the public domain featuring parklands, walking trails, coastal lookouts and tree-lined streets. It adjoins the Coast Golf Course.
Upon its purchase the site had existing development consent for a 149-lot residential subdivision from a 2007 application.
Charter Hall joint managing director, David Southon, expects strong interest in the project. Sales are scheduled to begin in October, once formal Randwick Council approvals are secured.
TA Global Berhad’s executive chairman, Datuk Tony Tiah Thee Kian, says the company had been looking for a property development presence in Australia for some time, to add to its holdings in Malaysia, Singapore, China and Canada.
The group, one of the largest listed property development companies in Malaysia by market capitalisation, owns the Westin in Melbourne and the Radisson Blu Plaza Hotel in Sydney.
The current master plan was approved in 2009 by the Land and Environment Court’s Commissioner Murrell, who ruled the proposal was not an overdevelopment.
“There is a great deal of merit for a development that provides for a variety of housing types with a central core area of open space and the proposal will provide for interest and visual differentiation to provide for the identity that should be welcomed and embraced in this particular area,” Commissioner Murrell ruled.
The neighbouring 85-hectare holding, which was the official Prince Henry Hospital site, has been developed by Landcom, Stockland and other developer partners, with a developable 35-hectare area.
</body></html>

jchancellor-FAypfDUnLy

Wraps come off Sydney’s newest coastal community

<html><body>
From the mundane – housing market crash; mortgage defaults climbing; low housing affordability; interest rates set to rise; household costs skyrocketing; double-dip recession – to the catastrophic – Malthusian population explosions; peak oil everything; climate change; global warming; deforestation; urbanisation and over-consumption – all we hear these days is doom and gloom.
Janet Albrechtsen, a few weeks back in The Australian, titled these portrayers of gloom “apocaholics”. An apt description, indeed.
Let’s turn the tables on some recent reports of gloom and doom and see how they sound.
<ul>
<li>Australian dwelling prices fell just 2.3% over the last 12 months despite the pessimistic jawboning of expectant falls in excess of 10% to 15%. Brisbane’s values fell just 5.9% – a great result if you ask me given the floods, the ham-fisted governance and pending local/state elections.</li>
<li>Sellers are starting to get the message. They’re taking their dwelling off the market, with fewer new “for sale” listings this month across Brisbane compared to the same time last year.</li>
<li>It is a good time to buy a dwelling in Queensland, according to the Westpac-Melbourne Institute. Its June Queensland index is sitting at 134.4, up 11% on May, and a massive 52% on this time last year. Queensland not only has the highest “good time to buy a dwelling” index in the country, but also enjoys the largest monthly and annual improvement as well.</li>
<li>Queensland’s dwelling approvals have risen for the second consecutive month. ABS monthly approvals figures released this week show a 1.1% increase in Queensland activity. Not much, true, but an improvement nevertheless.  In contrast, across Australia approvals were down 7.9% in May. While the small rise in Queensland numbers was largely due to the volatile apartment sector, the monthly trend provides grounds for optimism.</li>
<li>Forty-nine out of 50 Queensland households pay their mortgage on time. Just short of 99% of other Australians do so, too.</li>
<li>Australians are now saving one-eighth of their take-home pay. It’s a massive plus for our economy as household balance sheets become stronger and more resilient to difficult times.</li>
<li>Official interest rates have been raised only once in the last fifteen months and actual mortgage rates are starting to fall. Three-year fixed interest rates are also starting to fall and are lower than the current variable rate of interest – suggesting interest rates could fall. Bank bills and government bonds are, at present, only slightly up on the current cash rate, suggesting any interest rate rise should be modest.</li>
<li>According to Rismark International, Australian homes are currently at their most affordable in almost a decade. Rismark’s work looks at all properties across the country, not just detached houses in our capitals; and also uses household incomes rather than average weekly earnings.</li>
<li>We are doing better, financially, than we think.  While the cost of certain consumer items has increased, real household incomes are rising faster than inflation.  Since March 2009, inflation has risen 6.3%, whereas real household income rose 7.3%. Real household incomes have grown by about 16% in the past six years.  Maybe John Howard was right after all – we have never had it so good.</li>
</ul>
Too optimistic? Was the last point a step too far? Well consider how long we have to work these days to earn an hour of reading light. On the average wage today, half a second of work will pay for an hour of light.  Just 50 years ago you had to work for 10 seconds.  In 1880 it took 15 seconds to burn a kerosene lamp, and more than six hours of work for an hour of light by a candle.
In 1750 BC your average Babylonian needed to work 50 hours to get 60 minutes of light from a sesame oil lamp. Little, obviously, happened at night before the birth of Christ.  How many TV screens, laptops, iPads and other mobile devices do you have at home?  We have 11 and neither of our children, at present at least, aren’t living at home.
Healthy economic growth doesn’t only have to be supported by government, and ideally, shouldn’t be that frustrated by perverse policies.
But increasingly, of late, that isn’t necessarily the case. Yet the greatest barrier to recovery is psychology – stubborn gloom – which is conditioning household and business spending decisions.
Foolish optimism led to the GFC by assuming things would work out for the best.  Now, automatic pessimism weakens growth by ignoring good news or believing it cannot last.  Our greatest challenge this financial year is to think and act more optimistically.  I will give it a serious try.  How about you?
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive" style="outline-style: none; outline-width: initial; outline-color: initial; text-decoration: underline; color: #6888b1;">Matusik's Missive</a>.
</body></html>

michaelmatusik-49YzLvdmNv

Automatic pessimism versus foolish optimism: making the right property call

<html><body>
In the current buyer’s market we all want to buy our new home or property investment at the lowest possible price. On the other hand, the vendor wants the highest price they can get.
You know that the asking price quoted by the selling agent will usually be more than the owner is happy to accept for their home. It's just part of the real state negotiation game.
If you’ve been reading that there are more properties for sale than ever, that properties are on the market longer and that vendors are needing to discount their asking prices to get a sale, you’re probably wondering how much should you offer when negotiating for your next property?
If you ask the selling agent what price you should offer, you're asking the wrong person. Remember, the agent is paid by the seller to represent them and to get the best price possible. Despite this, I would still ask them what they would consider a fair offer, and then ask them to justify it with a list of comparable sales.
But unless you use a buyer's agent to help you negotiate, you are going to have to rely on your own research to work out what the property is worth – not just what the selling agent tells you.
By the time you end up at the negotiation table, you should have looked at many properties and have a pretty good idea of what similar homes in the area have sold for. Remember, it's the final sale price – not the asking price – that you need to focus on when you're doing your pre-negotiation homework.
In the current market most properties sell for less than their asking price. There is no standard discount, but as everyone knows there will be some 'argy-bargy' about the price as agents tend to list the property for sale at an asking price usually about 5-10% more than the vendor will accept to sell their home.
This means the asking price is just a starting point for the negotiations.
If you pay what the seller is asking, you could be wasting money. The trick is to know how much less the seller will accept. Sometimes it's only a few thousand dollars. In a buyer's market like we’re experiencing, many vendors are prepared to drop their asking price, especially if their property has been for sale for some time.
Before deciding what price to offer, here are five questions you should consider asking:
1. How did the vendor come to the asking price for their home? Was it from the agent's suggestion or because that's how much they need to buy their next dream home? Some sellers are unrealistic and unlikely to come down from their asking price if they have to get a certain amount for a particular reason. Others are still hoping to get the price their neighbour achieved last year.
2. Have there been any other offers made? This lets you know if you have any competition and how serious the vendor is about selling their home for a reasonable price.
3. How long has the home been on the market? If it's just been put up for sale, the seller may not be anxious to accept the first offer. If the home has been on the market for several months it's more likely the seller would be ready to accept your offer.
4. Why is the vendor selling? Are they going through a divorce? Do they have to move interstate urgently? Have they already bought another home that would put them under pressure to sell their current home? This will let you know how motivated the seller is.
5. Has the asking price been reduced during the time the property has been on the market? This will tell you whether the seller is really keen to offload their home and also let you know that you might have a motivated seller on your hands, and perhaps greater bargaining power.
Good luck with your negotiations!
Michael Yardney is the director of Metropole Property Investment Strategists <a href="https://www.metropole.com.au/">https://www.metropole.com.au/</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the Property Investment Update <a href="https://www.propertyupdate.com.au/">https://www.propertyupdate.com.au/</a> blog.
</body></html>

myardney-DFoGhGbSJX

Five questions to ask before making an offer on property

<html><body>
The near-completion of the government’s $16.2 billion Building the Education Revolution (BER) project as well as the imminent end of other stimulus measures have contributed to a dramatic turnaround in sentiment among the building sector.
Peter Jones, chief economist at the Master Builders Australia, says the poor outlook generated from the June quarter survey is “ringing alarm bells”.
The building industry activity index has again fallen below the 50-point ‘neutral’ mark, meaning builders expect the overall industry to be lower over the next six months relative to the past six months.
“The BER was critical in terms of cushioning the industry,” Jones tells Property Observer.
“It has been extraordinarily positive and incredibly beneficial for construction and the wider economy,” he says.
Jones says the expectation has been that as the project neared completion, other sectors would take up the baton, but this has not happened.
“It has been a clunky gear change,” he says.
May ABS figures show new private sector home approvals have plummeted by a seasonally adjusted 7.8%, with NSW recording its second worst May approval figure in statistical history and Queensland’s worst May figure since 1987.
According the MBA, the commercial building outlook is weaker than residential.
The non-residential index measuring current conditions registered 43.3 in the June quarter, up on the previous reading but remaining well below the ‘satisfactory’ 50 level.
Furthermore, expectations about future building activity have fallen back in the June quarter after ticking higher in the previous two quarters. The index remains below the neutral mark and non-residential builders face the prospect of falling activity levels as government stimulus programs come to an end.
For the residential sector, conditions remain unchanged in the June quarter with builders expecting little change in residential building conditions over the next six months. The index fell back to 48.4 in the June quarter from 51.4.
The MBA survey of 470 builders across all sectors of the industry uncovered a concern that private sector demand will not be able to fill the gap left by the BER, social housing and other government stimulus programs.
The Building the Education Revolution project alone has generated 24,000 projects, according to government statistics.
Other stimulus programs that have been culled include the removal of stamp duty concessions for Queensland non-first home buyers (ending on August 1, 2011) and an end to stamp duty concessions for Tasmanian first-home buyers, which were removed on June 17, 2011.
Besides an expected drop in building activity, the survey revealed a host of other factors contributing to what Jones calls a “dramatic turnaround in builder sentiment”.
These include builders reporting a drop in their own-business activity fell in the June quarter (from 56.3 to 55.7 on the index and trending down for the last four quarters) and an overall decline in profitability.
Furthermore, builders do not expect profitability to improve over the remainder of 2011, with the profitability expectations index trending down and returning to a neutral position, following some improvement during the preceding year.
Profitability expectations are now “not far from lows reached during the GFC and well down on the much healthier levels of profitability achieved prior to the global crisis”.
</body></html>

Latest Buying Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News