Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

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.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

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.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<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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A brand new luxury residence in Sans Souci was sold for $3.3 million at auction last weekend.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-sans+souci-132779778" target="_blank">9 Newcombe Street</a>, the property was sold by Stone estate agent, Ray Fadel.
The holding was previously sold for $1,305,000 in 2018. The current abode was constructed in 2020.
 <img src="https://www.urban.com.au/images/2020/2/1_FRONT.jpeg" alt="">
The four-bedroom home features two levels with five bathrooms, built in wardrobes, vacuum systems, and air-conditioning throughout. 
<img src="https://www.urban.com.au/images/2020/2/1_WALKIN.jpeg" alt="">
The master suite has access to a private balcony.
<img src="https://www.urban.com.au/images/2020/2/1_BEDROOM.jpeg" alt="">
The home's design is sleek and fresh. It has an open layout for in/outdoor living, and flexible dining and entertainment. 
This is ensured with the level access to a covered dining patio, outdoor entertainment space, landscaped garden, and swimming pool.
<img src="https://www.urban.com.au/images/2020/2/1_OUTDOOR.jpeg" alt="">
The swimming pool features spa jets and a waterfall which can be admired from the dining area.
 <img src="https://www.urban.com.au/images/2020/2/1_ENTERTAINMENT.jpeg" alt="">
For indoor entertainment, there is a separate theatre room with high quality equipment, and a lounging room with an open fireplace. 
<img src="https://www.urban.com.au/images/2020/2/1_THEATRE.jpeg" alt="">
The kitchen features stone benchtops and a butler's pantry.
The residence is also secured with an alarm system, video intercom, CCTV cameras, data cabling system, and parking space for two cars.
The home is of walking distance to the waterfront, local shops, cafes and transportation to the city. 
A similarly designed five-bedroom residence at Marx Avenue, Beverley Park was recently sold for $2,738,000.
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j.ballantyne1990-6AQqhLzZaK

Luxury Sans Souci trophy home sold for $3.3 million at auction

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National residential property listings surged 2.2 per cent in January, according to figures released by SQM Research.
Numbers rose from 288,966 in December to 295,295 in January, an increase of just over 6,000 listings.
Figures were still 10 per cent down compared to last year however.
All capitals saw listings increase. The largest jump was in Sydney, whose listings grew by 5.1 per cent, closely followed by Hobart up 4.9 per cent.
<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/2020/2/4/SQM%20Jan%20listings.jpg" alt="">
SQM Research managing director Louis Christopher said the rise in listings was a surprise.
"The month of January traditionally records small falls in properties listed for sale as the market is still in a summer holiday mode however, the positive start in new listings shows vendors are now keen to sell and we could see further increases in the coming months.”
Asking Prices
Capital city asking prices dropped by 0.4 per cent for both houses and units in January.
The average asking price for a house is now $973,500, compared with $575,100 for units.
Housing asking prices are 5.5 per cent higher than they were this time last year, but unit asking prices are down 0.1 per cent.
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Residential property listings surge in January: SQM Research

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EXPERT OBSERVER
Australia’s job market remained resilient at the turn of the year, despite the bushfire crisis impacting large swathes of the country. In January, ANZ’s job ads measure rose by almost 4 per cent – the biggest gain since June 2019. The pick-up follows the creation of 67,000 new jobs in November and December, pushing the jobless rate back down to 5.1 per cent – near 8-year lows.
Aussie unleaded petrol prices fell to 5-month lows last week. Pump prices are averaging a smidgen over $1.40 a litre across the nation. In the more competitive retail fuel markets on the east coast, prices at the bowser are currently averaging around $1.30 a litre – at the lowest levels since September 2019.
So why are petrol prices so low? The retail petrol price discounting cycle is keeping a lid on prices in Brisbane, Sydney and Melbourne. But motorists should fill up now. Pump prices are close to the bottom of the cycle - now 20 days old – and will begin lifting by the weekend.
Concerns about China’s oil demand due to the coronavirus impact on economic activity are another factor pushing down Aussie petrol prices. In fact, the US Nymex crude oil price plummeted by 16 per cent in January – its worst start to a year since 1991. And the Singapore benchmark gasoline price - the largest component of fuel prices paid by motorists - fell to 8-month lows of US$66.25 a barrel last week. In Australian dollar terms, the Singapore gasoline price fell by $2.90 or 2.9 per cent to $98.53 a barrel or 61.97 cents a litre – also an 8-month low.
What do the figures show? Petrol prices
According to the Australian Institute of Petroleum, the national average price of unleaded petrol fell by 8.3 cents to 140.3 cents a litre last week. The metropolitan price fell by 12.0 cents to 137.0 cents a litre and the regional price fell by 1.1 cents to 146.8 cents a litre.
Average unleaded petrol prices across states and territories over the past week were: Sydney (down 14.0 cents to 133.1 c/l), Melbourne (down by 12.9 cents to 138.5 c/l), Brisbane (down by 12.6 cents to 135.1 c/l), Adelaide (down by 22.2 cents to 138.2 c/l), Perth (down by 1.9 cents to 140.0 c/l), Darwin (down by 1.1 cents to 138.7 c/l), Canberra (down by 0.2 cents to 146.4 c/l) and Hobart (down by 0.2 cents to 155.5 c/l).
The smoothed gross retail margin (2-month rolling average) for unleaded petrol rose from 15.06 cents a litre to a 7½-month high of 15.29 cents a litre (24-month average: 13.2 cents a litre).
The national average diesel petrol price fell by 0.4 cents to 149.8 cents a litre over the past week. The metropolitan price fell by 0.4 cents to 148.4 cents a litre and the regional price was down by 0.4 cents to 151.0 cents a litre.
Today, the national average wholesale (terminal gate) unleaded petrol price stands at 127.5 cents a litre, down 2.9 cents over the week. The terminal gate diesel price stands at 131.5 cents a litre, down by 3.5 cents over the past week.
MotorMouth records the following average retail prices for unleaded fuel in capital cities today: Sydney 129.5c; Melbourne 132.0c; Brisbane 130.4c; Adelaide 146.7c; Perth 129.6c; Canberra 146.3c; Darwin 138.4c; Hobart 155.3c.
The key Singapore gasoline price fell by US$3.20 or 4.6 per cent last week to 8-month lows of US$66.25 a barrel. In Australian dollar terms, the Singapore gasoline price fell by $2.90 or 2.9 per cent to $98.53 a barrel or 61.97 cents a litre – also an 8-month low.
Building Approvals - December
Council approvals to build new homes fell by 0.2 per cent in December to 14,752 units. But approvals are up by 2.7 per cent from a year ago – the strongest annual growth rate in 19 months.
House approvals fell by 0.1 per cent and apartment approvals were down by 0.3 per cent.
In trend terms, overall approvals rose by 2.1 per cent in December – the biggest increase in over 2 years.
Over the past year 172,510 new homes were approved, below the decade average of 196,675 units.
Dwelling approvals across states/territories: NSW (down 30.5 per cent); Victoria (up 34.0 per cent); Queensland (down 5.7 per cent); South Australia (down 20.1 per cent); Western Australia (up 5.4 per cent); Tasmania (down 8.9 per cent). In trend terms: Northern Territory (up 4.7 per cent); ACT (up 1.0 per cent).
The value of all commercial and residential building approvals rose by 13.4 per cent in December. Residential approvals rose by 2.6 per cent with new building up by 3.2 per cent, but alterations &amp; additions were down by 1.8 per cent. And commercial building rose by 30.9 per cent.
Over the year to December, building approvals totalled $115.4 billion, 15.5 per cent above the decade average.
Job advertisements - January
ANZ job advertisements rose by 3.8 per cent in January - the biggest lift in 7 months. But ads were still down by 11.8 per cent over the year to 149,544 in seasonally adjusted terms.
Inflation gauge - January
The Melbourne Institute monthly headline inflation gauge rose by 0.3 per cent in January. The annual growth rate lifted from 1.4 per cent in December to 1.8 per cent in January. The smoothed 12-month annual average of the gauge is at 1.67 per cent in October – just above the slowest growth rate in 2½ years.
The trimmed mean gauge lifted by 0.4 per cent in January to be up 1.6 per cent from a year ago – below the Reserve Bank’s 2-3 per cent underlying inflation target.
What are the implications for interest rates and investors?
Aussie residential building activity is showing more evidence of stabilising. In fact, building approvals in trend terms rose by 2.1 per cent in December – the biggest monthly gain since September 2017. Apartment projects are driving volatile outcomes in NSW and Victoria. But the strong rebound in Sydney and Melbourne home prices, record-low borrowing costs and still-solid population growth could underpin demand and the eventual bottoming-out in the construction sector by late 2020.
Reserve Bank policymakers will be heartened that multiple interest rate cuts supported jobs growth in late 2019. While the impact of bushfires on the labour market is still unknown, ANZ’s leading indicator of jobs growth made a promising start to 2020.
Commonwealth Bank Group economists continue to expect another interest rate cut from the Reserve Bank in the coming months to support the economy.
RYAN FELSMAN is a Senior Economist CommSec
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Australia's job market remains resilient despite bushfires: Ryan Felsman

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Nationally rents were up half a percent in January taking the annual change in rental rates to 1.3%, according to the latest CoreLogic report.
The report found that rental growth generally remains weak across most markets, however the recent trend has been towards a subtle rise in rental appreciation.
A year ago the national rental index was rising at an annual rate of just 0.4%. The improvement in rental rates can be attributed to a tightening in rental supply.
Housing finance data shows investor participation in the housing market is near record lows and new supply additions are tapering.
Hobart remains the tightest rental market, with rents up 5.8% over the past twelve months, followed by Adelaide (+2.0%) and Perth (+1.9%), while rents are still trending lower on an annual basis in Darwin (-1.9%) and Sydney (-0.6%).
CoreLogic's Tim Lawless said, "with housing values rising more rapidly than rental rates, gross rental yields are swiftly compressing. Across the combined capital cities the gross yield was tracking at 3.50% in January; the lowest yield reading since March 2018 and only eleven basis points away from record lows."
"Gross rental yields in Sydney, where housing values have surged higher against a backdrop of falling rents, remain at record lows, tracking at just 3.0% in January."
"Higher rental yields can be found in cities where rental conditions have been stronger relative to housing values. Despite overall weak housing market conditions, Darwin gross rental yields are the highest of any capital city at 5.8%, which is a reflection of housing values falling more than rental rates."
"The healthiest yield dynamic is in Hobart where overall tight housing conditions have pushed gross rental yields to 5.0%, providing a total return (gross yield plus annual capital gain) of 10.5%."
"Although gross rental yields are trending lower, so too are mortgage rates. At the end of December, the average three-year fixed rate for an investor mortgage was 3.48%."
"This is still slightly lower than capital city gross rental yields, implying that more properties will be showing a positive cash flow for investors, and paying off a mortgage may be more affordable than paying rent in many areas," he concluded.
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Rental growth remains generally weak across the nation in January: CoreLogic

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House value growth in Sydney and Melbourne are showing no signs of slowing down, CoreLogic's latest monthly Home Value Index shows.
Sydney houses (+1.5%) just edged Melbourne again (+1.4). January was the sixth consecutive month where the two biggest property markets in the country saw house values grow by over one percent.
It was July 2019 when houses increased 0.2% in Sydney and 0.1% in Melbourne following the end of the 18 month downturn. 
Melbourne's overall dwelling value however was stronger than Sydney over January, down to their better unit value growth.
The Victorian capital saw 0.7 per cent unit growth, compared to Sydney's fairly modest 0.3 per cent.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/2/3/CoreLogic%20January%20results.jpg" target="_blank">click here</a>.
<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/2020/2/3/CoreLogic%20January%20results.jpg" alt=""> 
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Over December Sydney houses were up two per cent, while units posted one per cent gains over. Melbourne's houses saw 1.7 per cent gains, units 0.9 per cent.
CoreLogic head of research Tim Lawless said the positive year-end results mask what has been a year of two distinct halves.
"We saw capital city dwelling values fall by 3.8% over the first six months of 2019 and then rebound by 7.0% over the second half of the year.
“The housing value rebound was spurred on by lower mortgage rates, a relaxation in borrower serviceability assessments, improved housing affordability and renewed certainty around property taxation policies post the federal election. 
"Lower advertised stock levels persisted providing additional upwards pressure on prices amidst rising buyer activity.” 
</div>
</div>
</div>
</div>
Over December Sydney houses were up two per cent, while units posted one per cent gains over. Melbourne's houses saw 1.7 per cent gains, units 0.9 per cent.
January was a strong month across the board, with all capitals and territories seeing dwelling value gains, even the often problematic markets in Perth and Darwin.
Perth's 0.1 per cent gains was fairly evenly spread across houses and units, however Darwin was heavily reliant on their housing market, up 0.6 per cent, as the unit market declined -1.1 per cent over the month.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/2/3/CoreLogic%20January%20Dwellings.jpg" target="_blank">click here</a>.
 
<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/2020/2/3/CoreLogic%20January%20Dwellings.jpg" alt=""> 
It was the same case in Brisbane, where houses were up 0.7 per cent but units were down 0.6 per cent.
Hobart was the third strongest capital with a 0.9 per cent gain, evenly split across houses and units. The unit market drove Adelaide's total 0.2 per cent dwelling gains.
Sydney's house value is now 9.3 per cent up over the last 12 months, compared to Melbourne's eight per cent.
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“A nominal recovery in housing values implies home owners are becoming wealthier, which may also help to support household spending", Lawless aded.
"However, the flipside is that housing affordability is set to deteriorate even further as dwelling values outpace growth in household incomes, signaling a set-back for those saving for a deposit.” 
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Sydney and Melbourne house value growth surge continues, but units slow: CoreLogic

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The Members Equity Bank's findings from its fourth Quarterly Property Sentiment Report reveals that the rising house prices are yet to crush the home ownership dreams of First home buyers.
The survey of 1,000 Australians in the property market took place in at the start of the month - the first quarter of 2020. 
Compared to the second quarter of 2019 where only 38 per cent of FHBs intended on buying property, FHBs' hopes of breaking into the market have jumped dramatically with 51 per cent of FHBs planning to buy property in the next 12 months. 
ME’s general manager Andrew Bartolo said, “Rising property prices carry the risk of squeezing first-home buyers out of the market, however they also signal a healthier market that presents a worthwhile long-term investment. 
“In the case of FHBs, the recent property price recovery has likely nudged them to get in while they can – as though it’s ‘now or never’ – and has created a sense of FOMO.
“Low interest rates and commentary in the market for the support of FHBs may have also contributed to an increase in home-buying intentions.” 
Over half predict house prices will continue climbing.
Recent property prices across Australia’s key property markets aren’t expected to halt any time soon, according to Australians in the property market. 
55 per cent of respondents expect prices to rise over the next 12 months. This is a massive leap from the mere 38 per cent who predicted price rises in the third quarter of 2019 when the market first began to turn. 
Strong house value growth is predicted by Victorians more than any other state, with 67 per cent of Victorian respondents predicting prices to go up. This is a 10 percentage point jump from last quarter’s prediction, and a 34 percentage point jump from their prediction for the second quarter of 2019.
All other major cities had a more optimistic outlook on prices than last quarter, including WA where more were predicting price falls than rises in the last quarter.
Positive house price expectations were seen across owner occupiers, FHBs and investors. 
Overall property market sentiment improves.
The report shows sentiment towards the property market has improved for the third quarter in a row, increasing to net positive 21 per cent. This is 3 percentage points up from the fourth quarter in 2019, and up 14 percentage points from the second quarter in 2019 when the report first started.
“Considering a combination of market factors including the buzz of home value growth, a solid spring selling season, plus rate cuts and signs from the RBA that rates will stay lower for longer, it’s no surprise overall property sentiment has improved,” said Bartolo. 
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Investor optimism has dipped slightly and is now on par with that of owner occupiers, as rising prices present a potential barrier to this cohort. 
Spending habits take another hit.
ME’s report revealed price positivity and overall market sentiment isn’t flowing through to spending habits. 
Recent property price movements have negatively impacted ‘willingness to spend on discretionary items’ for another quarter in a row. It remains the only area of personal finances that has stayed net negatively impacted - sliding deeper from net negative three per cent to net negative eight per cent over the past quarter. 
All other areas of personal finances analysed such as sense of wealth, financial confidence, savings behaviour and debt situation, remain net positively impacted by recent price movements. 
“Despite market positivity and a stronger sense of wealth, there’s less willingness to spend on discretionary items – a trend that bucks the wealth effect theory. Much broader economic dynamics are obviously at play,” said Bartolo. 
Growing optimism eases financial worries, but affordability remains an issue 
Growing optimism over the past quarter has eased most financial worries, but housing affordability still tops the list. 
Ninety-two per cent of respondents agree that ‘housing affordability is a big issue in Australia’, up from 89 per cent in the forth quarter of 2019. 
ME’s report explored level of personal worry towards affordability, as well as acknowledgement of the issue, for the first time and found net 14 per cent agree with the statement ‘I’m worried about property becoming unaffordable’ – making it the top worry. 
All other perceived worries in ME’s report have eased to the lowest point since the survey began in the second quarter of 2019. 
Tight credit policies are becoming less of a concern with only net six per cent agreeing it’s a worry, which is down from net agree 16 per cent last quarter. 
Concern over negative equity has dropped dramatically to net disagree 34 per cent, from net disagree 12 per cent last quarter. Likewise, worry about being forced to switch to interest only payments also slid to net disagree 30 per cent from net disagree 12 per cent last quarter.
Not enough choice in the market 
The report also compared the perception of choice in the property market. Forty-six per cent of respondents believe there is not enough choice, with this figure jumping to 57 per cent among FHBs. 
“Housing supply has picked up slightly, but with prices rising and demand outweighing supply, there’s no wonder that almost 1 in 2 Aussies don’t think there’s enough choice available,” said Bartolo. 
“With so many FHBs planning to buy in 2020, yet most stating choice in the market is a barrier, addressing this issue should be a focus in the year ahead.” 
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Rising prices yet to crush first home buyers ownership dreams in 2020: ME Bank

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EXPERT OBSERVER
Dwelling prices have reached the bottom in Adelaide as buyer confidence rises alongside auction clearance rates.
According to the latest RiskWise Property Research Risks &amp; Opportunities Report, housing finance in South Australia is showing signs of improvement with an increase of 8.6 per cent since February 2019 after a reduction of 6.6 per cent relative to August 2018.
In recent years the market had delivered modest capital growth for houses and poor capital growth for units.
While the labour market has improved in the past couple of years, the effective unemployment rate in South Australia is still above 9 per cent and the employment market is still soft.
This has a strong connection with low population growth (only 0.8 per cent per annum) and, therefore, low demand for dwellings.
While serviceability measures have improved due to the RBA’s interest rate cuts (with another expected sometime in the new year), the relatively high unemployment rate increases the risk of credit defaults.
That, combined with some properties that suffer from low demand, require special attention in relation to credit provisioning.
However, he said in some high-demand areas the housing market was showing some evidence of recovery, particularly those with steady recent price growth rates.
Buyer confidence has increased in South Australia, particularly Adelaide. This has also improved auction clearance rates and, consequently, it appears dwelling prices have reached the bottom.
However, while South Australia enjoys high levels of public and private expenditure, in the short term, the economic growth is projected to remain relatively low, around the 2 per cent mark.
Long-term economic growth will be a slow process and with a soft labour market no significant changes to demand are expected in the short to medium term, with less popular areas experiencing modest growth only.
He said despite low building approvals, demand for houses was projected to remain moderate with, therefore, only moderate capital growth forecast.
However, he said the growth rate was projected to vary greatly across the state with houses in areas close to the Adelaide CBD, such as Adelaide Central and Hills, likely to deliver better growth.
Houses in areas that do not enjoy good growth drivers still carry a risk of delivering poor / negative capital growth. For example, according to CoreLogic, the median house price in the Barossa - Yorke - Mid North area declined by 0.2 per cent in the past 12 months.
He said while South Australia offered healthy rental returns for both houses and units, demand for units among owner-occupiers, despite good affordability, was generally low.
In addition, units in some suburbs are subject to voluntary lending restrictions by the major lenders, such as lower loan-to-value ratio (i.e. higher deposit) due to oversupply,
Units are not considered a popular dwelling option among families especially off-the-plan units in high rises, and these carry the highest level of risk. Overall, units in South Australia are likely to deliver poor capital growth.
Adelaide Central and Hills has the highest rate of oversupply in South Australia with 2696 units in the pipeline (an 8.2 per cent increase to the current stock). This unit oversupply has led to a price decline of 0.3 per cent in the past year.
DORON PELEG is the CEO at RiskWise
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Adelaide house prices bottom out with growth projected: RiskWise's Doron Peleg

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A Crestmead, Queensland mortgagee home has been sold for $285,000, a $45,000 loss.
The three bedroom, two bathroom house last sold for $330,000 in 2009.
Situated at <a href="https://www.realestate.com.au/sold/property-house-qld-crestmead-132420382" target="_blank">135 Waratah Drive</a>, Griffiths and Gunn of Your Address Real Estate marketed the home.
Set on 600 sqm, the home was built in 1980.
Following an unsuccessful December 2019 auction, the holding was listed for $290,000.
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The median sale price for a home in <a href="/news">Crestmead</a> is $325,000, according to the latest CoreLogic data.
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Creastmead, Queensland mortgagee home sold for $45,000 loss

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A Rosbery, Northern Territory mortgagee has been sold for $300,000, an $80,000 loss.
The house was last sold in 2008 for $379,000.
It was unsuccessfully listed in 2010 when it sought $465,000 and this latest campaign ran from October 2018 to December 2019.
Michael Keith and Tim Mackenzie of O'Donoghues marketed the property.
Situated at <a href="https://www.realestate.com.au/property-house-nt-rosebery-129631770" target="_blank">1 Granites Drive</a>, the home was originally listed for $399,000 but after an unsuccessful October 2019 auction, sought $300,000.
Set on 801 square metres, the three bedroom one bathroom house was listed as a rental for $385 per week in 2013.
Built in 1988, it is located only a short stroll to the Rosebery Primary School as well as Palmerston College, there are also shops close by and just minutes drive to the new Bakewell Shopping Centre, as well as the Palmerston CBD.
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The median sale price for a home in <a href="/news">Rosebery, NT</a> is $502,500, according to the latest CoreLogic data.
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Rosebery, NT mortgagee home sold for $80,000 loss

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A Franklin, Australian Central Territory mortgagee apartment has sold for $280,000.
The January 2020 sale follows an unsuccessful November 2019 auction.
The one bedroom, one bathroom apartment was sold for its asking price.
Hugo Mendez Rauana Smith of LJ Hooker marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-apartment-act-franklin-132149578" target="_blank">31/92-98 Henry Kendall Street</a>, the apartment also features a parking space.
Built in 2012, the 50 sqm unit holds views over Franklin.
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The median price for a house in <a href="/developments/franklin-act-2913">Franklin, ACT</a> is $365,000 according to CoreLogic. 
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