Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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

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Australian residential developer Crown Group has taken the next steps in its first move into the US market, where it plans to develop a US$500 million mixed-use high-rise condominium and hotel tower. 
Crown Group is progressing entitlements with Los Angeles City Hall for the proposed tower, which is earmarked for the southeast corner of South Hill and 11th streets at the convergence of Downtown’s financial, fashion and South Park districts.
Crown Group has formed a joint venture with a Singapore based company called Magnus Property Pte Ltd and one of Indonesia’s biggest property developers, ASRI.
The joint venture group settled on the Downtown site in November 2019.
The 43-storey tower has been designed by renowned Koichi Takada Architects and the project at 1111 Hill Street is expected to be completed in 2024.
The high-rise sections of the building will comprise 319 condominiums with an exclusive residents’ retreat over the top two floors and a façade design that references California’s gigantic ancient redwood trees.
Crown Group’s LA office is also in discussions to perhaps incorporate a 160-key hotel in the low rise of the building.
Crown Group CEO Iwan Sunito said the flourishing Downtown district of LA had experienced a significant transformation over the past decade. This is evidenced by LA Live’s expansion, Warner Music and Spotify establishing offices, headline retailers such as Apple, Vans and Paul Smith launching flagship stores, a bevy of iconic restaurants opening venues and numerous residential, hotel and commercial developments underway.
Crown Group Head of US Development Patrick Caruso said the development would offer an appealing point of difference for buyers in Downtown LA and bring a new version of condominium living to the district.
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j.ballantyne1990-6AQqhLzZaK

Crown Group secures land for its first USA project

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<h2>OPINION:</h2>

Recently due to the global pandemic caused by COVID-19, journalists and economists are flooding in with their own opinions about how the <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">property market</a> will fall to a certain degree. 

Martin North from Digital Finance Analytics even went to the extreme in claiming that house prices will suffer between 20-30% in <a href="/developments/sydney-nsw">Sydney</a> and <a href="/developments/melbourne-vic">Melbourne</a>. 

There is still so much noise in the property market at the moment and our confidence may be shaken, despite the fact that Melbourne’s house price has just surged to the record-high values in February 2020 exemplifying a huge turnaround in a relatively short period of time.

I would like to reiterate on why I am remaining highly confident in Australia’s property market, especially on the residential market. To me, investing in property is still one of the best investments that any Australian who has the ability to do so, can make in their lifetime to secure a better off financial future. <a href="https://www.businessinsider.com.au/how-people-get-rich-paths-to-wealth-2019-9">According to Thomas Corley</a>, who has spent 5 years analysing how wealthy people accumulate wealth, he found that there are generally 4 paths to wealth which are saver-investor, top corporate senior executive, virtuoso and dreamer-entrepreneur. Among the 4 paths, saver-investor is a path that more than 80% of people can take as Australia has the world’s highest minimum wage. Saver-investor requires enormous financial discipline and long-term commitment as you need to consistently save 20% or more of your income to invest.

Personally, I have known so many people who have become financially independent through investing in property. According to the BRW Rich 200 list, which is published each year, <a href="https://www.smartcompany.com.au/industries/property/four-property-lessons-australias-richest-people/">property has consistently been the major source of wealth for Australia’s multimillionaires</a> and it’s the same all over the world. Property investment is unlike investing in any other products like shares or funds, you need to work on borrowing from banks, manage the property (or find someone to do it) after you settle, and it may requires you to manage your cash flow very well. 

However, over the long term it pays off as you will get more experienced and you will find the process of building an investment property portfolio a fun act. 

Here are the reasons that keep me confident in Australia’s property market in this unprecedented time:

<h2>1. Continuous Population Growth
</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/4reasons-1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="281" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/4reasons-1.jpg?itok=OngVU_bD" width="580"></a>

<figcaption> </figcaption></figure>Australia has a high proportion of migrants. Our major capital cities like Melbourne, <a href="/developments/sydney-nsw">Sydney</a> and Adelaide are consistently ranked in the top 10 most liveable cities in the world. Therefore, Australia is very appealing for people around the world to consider migrating over. In the year 2018, the total net overseas migration was 237,224 people. Population growth is the most fundamental element in the property market as it is always about supply and demand when it comes to capital growth. Continuous population growth will ensure there is always demand for housing. After all, all of us need a place to stay. This will lead me to my second point which is supply.

Source: abr.gov.au

<h2>2. Sharp fall in number of dwellings
</h2>

In July 2017, the Australian government imposed a very strict and tight policy in Australia’s property market. The lending policy has been tightened so drastically in order to prevent the property market becoming bubbles like how the American did years ago. Besides that, the state government started to impose foreign stamp duty tax on all foreign investors. The government has also removed the benefits of stamp duty incentive for off-the plan properties. These changes had hit the property market very hard. New housing developments struggle to sell and get finance for construction. Many developers have put aside their projects as the foreign investors cooled off their interest to invest. Therefore the supply would be very limited in the coming years.

Source: Reserve Bank of Australia; ABS Building Approvals

<h2>3. 70% of residential market is owner occupiers
</h2>

According to ATO figures in April 2017, 91.53% of Australians do not invest in property. It has been estimated by Peter Waxman from the Department of Land Economics at Sydney’s University of Technology that the total value of all residential dwellings in Australia is about $2.5 trillion. However the owner occupiers own about 70% of these properties. Think about it, the rest of 30% of residential properties are owned by 8.47% of Australians and foreign investors. This means that the 70% home ownership is a huge advantage when things turn sour in the market. People will not simply sell their own house as it is a roof over their heads. They might sell shares, funds, but they will do whatever they can to protect their own home. The property price will not fluctuate easily like the share market does.

<h2>4. The government and banks are in this together
</h2>

No one will know the exact impact of what the COVID-19 pandemic will cause to our economy. Unemployment rates will soar, economic growth will halt, but the government will look to the housing market as an early driver of revitalising economies as we have seen that during GFC and back even in the 1980-81 recession where Bob Hawke introduced the <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">first home buyer grant</a>. Unlike all previous financial crises that we have witnessed, this time the government has put in so much economic stimulus to help people and businesses to get through the tough time together. Even the banks are standing by together by allowing people to defer mortgage repayment by 6 months. This has greatly prevented many people from panic selling mode. It certainly helps people with financial hardship to be able to hold on to their property. 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/4reasons-2.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="411" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/4reasons-2.jpg?itok=a3hVWNmZ" width="580"></a>

<figcaption> </figcaption></figure>At this point in time it is hard to imagine the potential outcomes of this global event. However it is worth remembering that investing in property is a long term approach. The fundamentals are still there to strongly support the property market. With the support from the government through various stimulus packages, the casualties can be expected to be kept at a low level. When the pandemic is over and the economy is back up and running, it will be business as usual and the market will reward those who have kept their faith.
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Melvie

4 Reasons To Have Faith in Australia’s Property Market for the long run

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In comparison to other outbreaks, for example, SARS in 2003, based on the swiftness of Government, The Reserve Bank of Australia (RBA) and the Bank’s responses; Australia and the world are in a better place to ride out COVID 19.

The <a href="/news/covid-19-how-the-world-previously-recovered-from-sars-and-whether-or-not-we-can-do-the-same-this-time-round">previous SARS</a> event caused a short term slowing in <a href="/guides/how-to-navigate-buying-property-during-the-covid-19-crisis">our property market</a>. China’s output slowed down for a few months. Its market bounced back up once the outbreak was under control and the introduction of economic stimulus.

Below is an extract from “<a href="https://repository.upenn.edu/real-estate_papers/64/">Has SARS infected the property market? Evidence from Hong Kong</a>” by Grace Wong Journal of Urban Economics 63 (2008) 74–95 (complete paper attached appendix 1)

“Several noteworthy results emerge from this analysis. A Hong Kong-wide price decrease of 1.6 percent above the preceding trend is identified after the start of the epidemic for all housing estates, as well as an additional decrease of less than 3 percent for the average SARS-affected estate, i.e., those that were publicly known to have had SARS cases or were mentioned in the newspapers  in relation  to  SARS.  The implied economic value of life, from $121,000 to just over $1 million, falls towards the lower end of the range based on studies of less extreme risks. Although the nature of the SARS risk limits the extent to which this value of life estimate can be generalized, it helps put the SARS-related price decline in perspective. Given the low implied values of life, I conclude there is no evidence for price overreaction.”

In Hong Kong during SARS, the average price decline was 1-3%  in SARS-affected estates and 1.6% for all other estates. The Australian property market had a slowing in transaction numbers. However, prices continued to increase (albeit at a slower pace) well into 2005. 
Our property prices didn’t suffer significant setbacks during the Swine Flu outbreak in 2009/2010. It stabilised, and there was little growth. However, the swine flu occurred between the Global Financial Crisis in 2008/2009 and the mining downturn 2011/2012. Other economic downturns that impacted, such as unemployment and housing activity.

With COVID 19, we are not even waiting a few months for the release of economic stimulus, and the Government is already taking action. COVID-19 may feel more ‘extreme’ due to the swiftness of the virus’s infected cases in Australia, the lockdown of many countries, requests of <a href="/guides/covid-19-how-apartment-dwellers-can-keep-themselves-safe-during-self-isolation">self-isolation</a> and cancellation of many significant events and restrictions on business operations (particularly small businesses). However, at the same time, there is an economic stimulus swiftly introduced to assist during these trying times, and there have been massive advancements in technology (compared to 2003 and 2009), that will allow many businesses to innovate their ways to do business.

The previous breakout of SARS caused a decrease of 1.6% to the Hong Kong property market, and this did not have the current Australian initiatives and factors to minimise any short-term consequences:

a.     Interest rates in Australia are low. 
b.     The current exchange rate of the Australian currency is low. 
c.     There was Immediate Government intervention with both short-term controls and $320.0 Billion of incentives. 
d.    One of Australia’s major exports is resources which continue (volumes have not been affected by demand or production) to show price increases across the board, other than lithium.

<h2>The trend of COVID 19</h2>

In the last nine days, the rate of COVID 19 infection as of the 9th April 2020 across Australia (refer graph below) has dropped across Australia and Victoria. There is a clear trend in comparison to the previous direction from early March.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/graph-1.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="338" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/graph-1.png?itok=rlN5sJGG" width="580"></a>

<figcaption> </figcaption></figure>     Australian new COVID 19 cases of infection as at 1/4/2020 across Australia sourced Australian Government

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/graph-2.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="143" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/graph-2.png?itok=xHNabjK_" width="580"></a></figure>     The ABC (Australian Broadcast Corporation) website

The previous graphs show a compelling trend that the rate of infection is dropping and most likely will continue to decline.

We have not seen the end of the COVID 19 infection rate, but the end is in sight.

In an article in the Australian Financial Review on the 7th of April, the Australian Prime Minister has already started to discuss the staged relaxation of the COVID 19 measures that they introduced.

<h2>Pent up demand, China’s recovery</h2>

China is further advanced in this COVID 19 recovery cycle. Last week there was a 5% increase in prices and activity in the top 30 tier-one cities in China. Pent up demand has been the nominated factor.

Rising land prices have the potential to drive up home prices in a market under close scrutiny by the country’s policymakers. In March, new home prices were up 4.2%, 12.2% and 11.4% year-on-year in 70 of China’s first-, second- and third-tier cities respectively, <a href="http://www.stats.gov.cn/tjsj/sjjd/201904/t20190416_1659685">according to data released</a> (link in Mandarin) by the National Bureau of Statistics (NBS) in mid-April.
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Opinion: Is the impact of COVID-19 a repeat of SARS for the property market?

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A deposit has been placed on a Rooty Hill mortgagee house.
Located at 58 Pimelea Place, the home features four bedrooms, two bathrooms, and a double lock up garage.
It is situated on a 300 square metre block, and is roughly 1 kilometre from Rooty Hill station.
This is the first time the home has come onto the market since in was built in 2008.
Rooty Hill’s median house price is $642,450.
Mark Comber and Vijesh Kumar, from LJ Hooker Rooty Hill, made the listing.
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wdavis-8cCN98p7xp

Rooty Hill mortgagee home under offer

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A three-bedroom, two-bathroom mortgagee apartment in Chatswood has been listed for $2,850,000 through Ray White
The <a href="https://www.raywhite.com/nsw/chatswood/1898211/" target="_blank">Post Office Lane property</a> sits on the 37th floor of the highly sort after Metro Residence that showcases vast 270 degree views of Sydney and the Pacific Ocean.
The open-plan living expanse connects to a north facing outdoor room welcoming both natural light and panoramic district vistas through a selection of picture windows. 
The Miele kitchen features a stone topped island bench and effortlessly interacts with the dining and living areas. 
Equipped with an abundance of storage, each bedroom boasts built-in robes in addition to three linen cupboards within the wide hallway. 
The apartment is easily accessible with multiple lifts linking to the secure double parking and a luxurious entry foyer positioned directly opposite Woolworths adjoining the Chatswood Train Station. 
The apartment last sold for $2,310,000 last February, and $1,370,000 in 2011. 
According to Realestate.com.au, 25 other three-bedroom apartments in Chatswood have recently been sold, with the latest being a three-bedroom, two-bathroom apartment on Katherine Street which sold for $2,350,000 on March 4, 2020. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/3_Chatswood%20Living%20Room.jpg" alt="">
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Chatswood mortgagee apartment listed for $2.85 million

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A stylish mortgagee apartment on level 44 of the iconic 'World Tower' in Sydney has been listed for sale by McGrath.
The <a href="https://www.realestate.com.au/sold/property-apartment-nsw-sydney-131090298" target="_blank">Liverpool Street two-bedroom, two-bathroom apartment</a> has unobstructed views of the city and Darling Harbour.
The cosmopolitan apartment has spacious interiors including open plan living and dining area, winter garden and balcony. 
The kitchen is fitted with stone benches, and Smeg appliances with a gas stovetop, and the contemporary bathrooms are fitted with stone vanities and an internal laundry. 
The World Towers offers secure entry and concierge as well as resort style facilities including a gym, pool, spa/ sauna and cinema. There is also level access to basement parking which can be accessed via lift. 
This property was last sold for $1,320,000, last July, and $800,000 in 2007. 
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Sydney CBD mortgagee apartment listed

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A waters-edge family mortgagee home in Lugarno has been listed for sale through McGrath estate agents Hayden Duncan and Olivia Duncan. 
The <a href="https://www.realestate.com.au/property-house-nsw-lugarno-133390202" target="_blank">Forest Road property</a> has been freshly painted, carpeted throughout, and afford home renovators or large families an opportunity to secure a large volume home at entry level pricing.
The 562 sqm house has five large bedrooms with built-in robes, large timber kitchen, an external laundry room, and spacious living and dining with a fireplace.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/14/1_Mortgagee%20Living%20Room.jpg" alt="">
Outdoors, there is a paved entertaining area with a secure grass yard, a tandem lock up garage, and abundant additional storage. 
Built in 1980, the house was last sold for $690,000 in 2010. 
According to Domain, ten other five-bedroom houses in Lugarno have recently been sold. 
Most recently, a similar five-bedroom, three-bathroom house on Booyong Avenue in Lugarno sold for $1,440,000, and another on Maple Street for $1,250,000, reports Realestate.com.au. 
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Lugarno water-edge mortgagee house listed

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EXPERT OBSERVER
The Westpac-Melbourne Institute Index of Consumer Sentiment plunged 17.7% to 75.6 in April from 91.9 in March.
This is the single biggest monthly decline in the forty seven year history of the survey, taking the Index beyond GFC lows to levels only seen during the deep recessions of the early 1990s (64.6) and early 1980s (75.5).
However, it is pertinent to note that the lows in previous recessions were reached after one to two years of continuous deterioration compared to the one month collapse we have seen here. Certainly we cannot rule out the Index dropping below the historic low of 64.6 we saw in November 1990.
The details of the survey which are discussed below are all very disturbing and reflect the large shocks to jobs and spending. However the most surprising message is the collapse in confidence in the housing market.
The survey comes after an extremely turbulent month in which the Coronavirus outbreak has evolved from serious concern to full-blown pandemic. Confirmed cases globally have soared from around one hundred thousand at the time of the last survey to nearly two million currently. In Australia, the number of cases has surged from just 76 a month ago to around 6,500.
Australian governments have instituted widespread shutdowns on movement and social activity that have effectively banned many forms of economic activity.
While the drop in confidence this month is severe, it could well have been worse. Despite the bleak and threatening backdrop, Australia’s pandemic experience to date has been much less debilitating than that of the hardest hit areas abroad.
The number of cases is high but has not overwhelmed Australia’s health system, with recent evidence showing a clear slowing in new cases that indicates policy measures are working to contain the spread.
These developments give some support to our view that the Australian economy will lift in the December quarter following three consecutive quarters of economic contraction.
We have also seen a swift and effective response from governments, highlighted by the Federal government’s $130 billion JobKeeper Payment scheme.
Westpac has estimated that without the Payment the unemployment rate would have soared to 17% by the end of June compared to a peak of 9% with the Payment scheme.
Note that previous recessions saw the unemployment rate peak at 11.2% (early 1990s) and 10.4% (early 1980s).
All five component sub-indexes fell in April. By far the biggest falls were in the near term outlook for the economy and in attitudes towards spending – reflecting the immediate effects of the shut-down.
The ‘economy, next 12 months’ sub-index recorded a spectacular 31% drop (the biggest monthly fall on record), taking it to 53.7. That compares to a low of 53.2 during the GFC and lows during previous recessions of 34.2 (early 1990s) and 42.1 (early 1980s).
Bill Evans is the Chief Economist at Westpac Banking Corporation
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Consumer sentiment plunges in April: Bill Evans

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In the wake of the coronavirus outbreak and the associated shutdown of economic activity, sentiment towards residential property and all sectors of commercial property declined sharply, according to the ANZ.
In their June Quarter ANZ property council survey in answer to new questions, specially set for this survey, they found that expectations of a negative impact from the coronavirus were broadly based and similar across the states. Nationwide, virtually all respondents expect to be negatively impacted by the pandemic, with all states recording similar responses.
10% of businesses report that the impact is already so serious it is affecting their viability. A large majority of firms reported that the virus was already impacting current construction schedules. Firms expect the impact of the virus to be largest on the tourism sector. 
In the residential sector, price expectations have turned around sharply and a net 36% of respondents now expect house prices to decline over the next year.
Employment in the sector is also expected to decline, but the outlook for construction activity is more balanced. The outlook for the residential sector is negative across all states and territories. 
In commercial property, across all sectors and states sentiment declined sharply. Confidence in the tourism and retail sectors was the weakest, but sentiment also declined sharply in the office and industrial sectors.
ANZ Senior Economist Felicity Emmett said, "after recovering through much of 2019, property sentiment has taken a hit from the coronavirus and the shutdown measures put in place by the federal and state governments to contain it."
"Just as the lockdown measures have been broadly-based, the deterioration in sentiment has been equally widespread. Sentiment across the residential, office, industrial, retail and tourism sectors have all been sharply impacted."
"Not surprisingly, the tourism sector has been the hardest hit."
"Across all sectors, price expectations have turned around sharply, employment prospects have deteriorated and the construction outlook has turned down."
"The construction sector is not subject to a shut-down at present, but the downturn in the outlook is concerning, and suggests that the impact of the virus may be more long lasting on the property sector. With long lags associated with construction approvals, commencements and completions, a quick rebound once the lockdown is eased seems unlikely"
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Coronavirus infecting property sentiment: ANZ

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<h2>OPINION:</h2>

This is a call for government, business and landlords to action new and creative measures to help small businesses get back on their feet again in late 2020 and beyond.

As an urban planner I am motivated by the opportunity to help create and manage successful cities, towns and communities. 

Australia's cities and towns are currently facing social and economic threats that have never been experienced before in the lifetime of its citizens.

Urban planners have a critical role to play in not only immediately responding to the <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">COVID 19 crisis</a> but we also must have plans for contributing to the rebuild of our economy once the immediate threat passes.

An immediate focus must remain on supporting the continuity of construction activity - pushing on with planning approvals, getting rid of red tape and fast-tracking applications where necessary to ensure a <a href="/developments">development-ready</a> pipeline of projects and the many jobs they create.

But we must also work on solutions now that can be deployed once the current lockdown requirements are lifted. This is likely to only be a matter of months away.

This article proposes some ideas to help the sectors that have been hit the hardest so far - retail, hospitality, tourism, the creative industries and arts, entertainment, recreation and many types of service industries.

These are enterprises who have had their revenues disappear in an instant, and the demand for these services will take time to build up again. Demand is likely to gradually re-emerge over maybe a 6-18-month period.

It will be a fragile time –the public will be wary about how they spend their time and money, and they will take a while to become comfortable with <a href="/guides/covid-19-is-it-possible-to-practise-social-distancing-at-home-absolutely">socialising </a>in the wider community again.

A mix of re-emerging, re-imagined, and new businesses will step forward to meet this demand.

These businesses will need to operate as start-ups <a href="/guides/covid-19-how-to-adapt-to-working-from-home">working off lean resources</a> for potentially extended periods. Many won’t have great access to capital or an established customer base, and many will be building (or rebuilding) their company/product brand. 

But what they will have is a burning desire to succeed, a willingness to try new ideas, form partnerships and work hard, all on the smell of an oily rag.

<h2>So, what can urban planners do to help in this rebuilding process?</h2>

It is likely that there will be many vacant shops, cafes, restaurants, bars, offices and warehouses across our suburbs at the end of the lockdown phase. Landlords will be keen to get tenants back into these spaces as soon as possible, but there will be few tenants that will be able to take on the rent costs that existed in the pre-COVID 19 phase.

New businesses and those in a rebuilding phase alike will also be reluctant to take on rigid rent terms, particularly long leases. Even businesses that trade through the current period and negotiate the suspension of rent payments will be faced with significant debts that will affect their ongoing ability to trade once the grace period ends.

In this environment, the opportunity exists for planners, businesses, and landlords to work together on a '<a href="https://leanurbanism.org/">lean urbanism</a>' model for supporting new and re-emerging businesses to get going again. 

What I am proposing is that in designated locations, the State government, local councils and business associations work with landlords and businesses who are re-starting (or starting-up) to revitalise places suffering from (or at risk of) high vacancy.

This program would enable businesses to make low-risk and low-cost transitions from new and possibly interim operations into more sustainable and permanent arrangements during the recovery phase.  

The program would see urban planners, property owners and business associations band together to reimagine our suburban strip centres and industrial areas as places for the incubation and growth of new businesses. 

Such places can be designated as ‘enterprise zones’, experimental and opportunistic areas where start-ups can simply turn up and try new ideas in popup and temporary spaces, where they are supported by landlords and government to get up and running again.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/post_covid-19-2.jpg" rel="gallery-all" title="post covid-19-2"><img alt="" class="image-article-full-width-580px" height="339" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/post_covid-19-2.jpg?itok=_EdJJ35M" title="post covid-19-2" width="580"></a>

<figcaption>[Image Credit: www.millcastlemaine.com.au]</figcaption></figure>Whilst these ideas could potentially be applied to any business operating anywhere, there are particular benefits to be gained in concentrating the initial efforts on creating local business clusters, where a shared amenity and collective identity can be created, and where marketing, programming, and business development efforts can be shared.

The clustering of complementary types of businesses together can have a powerful effect on drawing customers and rebuilding the social and commercial value of such places.

Local business associations would market and curate such places with events, activities, and promotions, providing a level of activation that supports business and provides opportunities for the community to re-engage with the outside world. 

Landlords would participate by agreeing to license space for start-ups on a low cost and temporary basis. Incentives such as reduced land tax, municipal rates or other COVID 19-related recovery funding could be offered to landlords who agree to participate in the program.

All landlords know it’s easier to find a long-term commercial tenant when you’ve got an occupied, well-presented site in a location with strong branding and footfall. Several progressive commercial property developers are already providing below-market-rate rents to amenity enhancing smaller tenants as they see the value these tenants bring in attracting larger anchor tenants down the line.

The small businesses themselves would provide sweat equity in fitting out spaces, as well as working together to create a definable character and identity for their business precinct. 

<h2>It has been done before, so it can be done again.</h2>

There are precedents for this approach that we can draw from. 

Similar strategies were deployed in <a href="https://en.wikipedia.org/wiki/Re:START">Christchurch</a> after the earthquake, and in New Orleans after Hurricane Katrina. 

<a href="https://www.popbrixton.org/about/">Pop Brixton</a> in the United Kingdom is another successful example of a temporary project that has disused places into an event venue and a community of independent retailers, restaurants, street food start-ups, and social enterprises. With over 30 enterprises on-site (including 17 restaurants and cafes) it is huge population local destination in London.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/post_covid-19-3.jpg" rel="gallery-all" title="post covid-19-3"><img alt="" class="image-article-full-width-580px" height="327" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/post_covid-19-3.jpg?itok=7jRw5Cqj" title="post covid-19-3" width="580"></a>

<figcaption> </figcaption></figure><a href="https://www.holzmarkt.com/">Holzmarkt</a> in Berlin is another such example, where the community has worked with the government and the private sector to create a vibrant, self-built space for business, arts, and culture.

Locally the success of <a href="https://renewnewcastle.org/">Renew Newcastle</a> provides a homegrown example of how destitute shopping strips can be transformed by creative thinking and adaptable agreements between landlords and local enterprises.

The role of the urban planner in all of this is to work with landowners and businesses to agree on a place-based plan for these activities and to remove the red tape by allowing businesses to turn up and start trading. It will also be necessary to remove or streamline various other forms of regulation relating to things like outdoor dining, liquor licensing and building regulations.

Urban planners within local government are perfectly positioned to take a lead role in coordinating the government input to such a program.

We can learn from the experiences of places like the City of Detroit in the use of lean urbanism. It has adopted an innovative ‘<a href="https://detroitmi.gov/departments/planning-and-development-department/zoning-innovation-and-historic-preservation/mix-tape-zoning">Mix Tape</a>’ planning ordinance to facilitate the revitalisation of 36 miles of commercial corridors across its municipality. This new ordinance allows for a wide mix of ‘as of right’ uses, and it eases parking requirements, and it sets a series of simple minimum design standards. It is accompanied by targeted streetscape improvements and the removal of other types of business regulation.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/post_covid-19-4.jpg" rel="gallery-all" title="post covid-19-4"><img alt="" class="image-article-full-width-580px" height="353" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/post_covid-19-4.jpg?itok=suEw2cPr" title="post covid-19-4" width="580"></a>

<figcaption> </figcaption></figure>We already have this type of tool available in Victoria - the <a href="https://www.planning.vic.gov.au/__data/assets/pdf_file/0021/391152/PPN85-Applying_the_Commercial_3_Zone-v3.pdf">Commercial 3 zone</a> was specifically developed with a nimbler, lower-barrier economy in mind.  

Whilst implementing this zone would be an outcome worthy of pursuing many locations, we need not wait for this to happen. Instead, we can trial new ideas via the temporary use of space, and/or by suspending certain planning and other regulations in designated locations. 

In the short term, it would be possible to make progress by designating places in Melbourne where uses are allowed to just start happening on an interim basis. Just like we allow markets and events as temporary uses, we could allow a range of other commercial activities to occur on an interim basis. 

The Queensland Government has already initiated legislative reforms along these lines in response to COVID 19, by creating <a href="https://www.statedevelopment.qld.gov.au/planning/planning-legislation-amendment">temporary use licenses</a> for certain types of businesses.

Sorting out the ultimate zoning and regulatory arrangements can be a job for another day.

It would even be possible (if there was enough will amongst regulators) to allow spaces to be temporarily used as live and work-spaces – so that the cost of living and working for start-ups was kept as low as possible. 

Of course, certain minimum standards relating to amenities, health, and human safety would have to be adhered to, but it would be possible to suspend the need for a change of use permits and many other types of approvals on the basis that the uses were temporary in nature.

<h2>Time for new ‘Neighbourhood Deals’ ?</h2>

In the great depression of the 1920s US President Franklin D. Roosevelt initiated the ‘New Deal’ – a series of programs, public work projects, financial reforms, and regulations aimed at getting that nation back on its feet.

In Australia today, the various State and Federal Government reforms are already taking on a similar character and magnitude to Roosevelt’s original New Deal. There will be more national and state-led recovery programs to follow in the coming months.

We can add to this effort at the local level by creating ‘Neighbourhood Deals’ between government and landowners whereby neighbourhoods are designated as special enterprise zones where the priority is to support and nurture start-up business activity. The Deal would be that the Government would agree to eliminate red tape and invest in local amenity and placemaking activities, and landowners would agree to make space available to re-emerging and start-up businesses on low-cost and flexible terms.

All signatories to the Neighbourhood Deal would sign on to the principle that decisions will be made that are in the best interests of growing local businesses ahead of other things.

These neighbourhoods would function for a time as temporary urban incubators of new enterprises, and after a period of re-establishment those enterprises that prove to be viable would transition into ongoing commercial leases, and the city would work with them to ensure that the necessary permits and licenses were put in place. 

Buildings could then be upgraded in a more substantial manner, backed by business banking loans and potentially government stimulus programs.

There is a pandora's box of complexity to be unpacked with an initiative like this. But recent events have shown that if there is a need and a will, there is a way. A crisis can provide clarity and promote creative ways in challenging old problems.

If we want to trial the idea of establishing this type of lean and nimble approach to supporting the recovery and growth of enterprise in Australia, then we need to start working out the details right now. 
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