<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

Joel Robinson

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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?

National Australia Bank (NAB) has brought forward the timing of the first RBA cash rate cut by three months.

NAB is now expecting a cut in February, in line with ANZ and Westpac, having initially thought a cut wouldn't come until May.

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB changed its call following the August monthly inflation figures that were released at the end of September, showing it had dropped to 2.7 per cent.

"The risk has been skewed to a first cut earlier in 2025, and today’s change acknowledges the balance of risks has likely shifted sufficiently for the RBA to feel comfortable cutting a little sooner than we earlier expected," NAB noted in its latest update.

They added that the cadence of the cuts may be faster than its central profile.

"Domestic inflation pressures are cooling, but only gradually, and we continue to expect the conditions for a cut will not be in place this year.

NAB believes the easing cycle will end at 3.1 per cent by early 2026, which is five cuts from the current 4.35 per cent cash rate.&nbsp;

CBA also thinks 3.1 per cent will mark the end of the cutting cycle, while Westpac is forecasting 3.35 per cent, and ANZ is the most pessimistic at 3.6 per cent, which would be just three interest rate cuts.

<h2>What would a rate cut in February look like for borrowers?</h2>

According to&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2vK2ujS77CHs9VRvSSXzLC" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.IVvjJ-2BPT0A8C3VxtqKc6e3bj5hBuw27WFEYqovsYs7kPsgFulYrdOzeP8gI7CybJOya3_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20hPXdLlPP9yD7DvFFDBM5yrTqxvcCiMfAsW1onD-2FcriL628eYdhNQE7bwzYrxcOYnmaYfRhGl-2FEHQ6eK2uQcLxs6Cbu6Dx0bYvpi5A6enmxMWU5TkcRYrP6Z8GbXZYtc5qSoKu6eWFBQR9K7fsjXwHMmby3D3X6Yx-2BxcDcdRruTG" target="_blank">Canstar</a>, if there is a cut in February, a borrower with a $600,000 loan today and 25 years remaining would see their monthly repayments drop by $92.&nbsp;

<table border="1" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td colspan="3">
			Impact of 0.25% pt cut in February 2025
			</td>
		</tr>
		<tr>
			<td>
			Current loan size
			</td>
			<td>
			Drop in monthly repayment
			</td>
			<td>
			New monthly repayment
			</td>
		</tr>
		<tr>
			<td>
			$600,000
			</td>
			<td>
			-$92
			</td>
			<td>
			$3,907
			</td>
		</tr>
		<tr>
			<td>
			$750,000
			</td>
			<td>
			-$114
			</td>
			<td>
			$4,884
			</td>
		</tr>
		<tr>
			<td>
			$1M
			</td>
			<td>
			-$153
			</td>
			<td>
			$6,512
			</td>
		</tr>
		<tr>
			<td colspan="3">
			Source:&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://link.mediaoutreach.meltwater.com/ls/click?upn%3Du001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL&amp;source=gmail&amp;ust=1727774368149000&amp;usg=AOvVaw2qVnp6oqATgqDUi2Frm22q" href="https://link.mediaoutreach.meltwater.com/ls/click?upn=u001.xWMOP9hChsvn-2BC9O-2FebBihXIZ4cEzbiuENdxm-2Bx3-2FYEEgYMhZlKWNj5Zzy1YZ56RuASD_RgrM7qq-2BfK-2FtAHeRBLv5Qrb-2Bii5fzjLeKcP4w-2FkNgJPXygpiRhVUan3WV3QEggcf617UC8Z60RjQJZAqx7PiO7FtVJQSn0D46Zc3iTVP0kAhTTzG51cPpa5hrqz1OkSA-2BiXAxUajQ686MTtiseWBIdMdknd83aB7cOVgXlVTeHCGf3-2BcMHwfvI8TYlkUovqEhn4dj0KXf2eJGpb9-2BBv20v2akwr6-2BqLyRrlEgkJ4J-2BCCyY0x189xEHZA4Ylf8c7ChBqNIkhmftZzoFuZKFn43pw3oJVg2o1gumrpdA-2B7MB-2FBtmL2rFCI-2FXORATQHySCLVOMg7Vywv-2BqnnQUAtDz6XkvpwxdHFXh70VwKazzhJsICilEYOvP4ju0sIfi5g6TL" target="_blank">www.canstar.com.au</a>. Starting rate is the RBA existing average owner-occupier variable rate of 6.36%. Assumes banks pass the cash rate cut on in full the month after the meeting.
			</td>
		</tr>
	</tbody>
</table>

Canstar Data Insights Director, Sally Tindall, says if core inflation continues to track in the right direction, or unemployment starts to accelerate significantly, we could well see a cash rate cut as early as February of next year.

“All four big banks now believe the RBA will be ready to cut the cash rate in just over four months’ time, if not before, in the case of CBA.

“However, the outlook for both inflation and unemployment is still highly uncertain. A couple of wobbly sets of inflation data could see the RBA holding for longer, particularly if unemployment remains relatively steady."

&nbsp;

Commonwealth Bank, the nation's largest lender, still thinks the first cut will come in December.

NAB bring forward first RBA cut to February 2025

<html><body>
National Australia Bank (NAB) is set to run advertisements that will correct their claims about home loan rates, after ASIC started a crackdown on false and misleading promotions in financial services.
The initial NAB promotional material, a wrap around on The Sydney Morning Herald and The Age, claimed that they had “the lowest standard variable rate for more than five years”.
This was incorrect. They failed to explain that this was out of the four major banks and outside of this they have not had the lowest standard variable rate for this time.
Advertisements will run in tomorrow’s Sydney Morning Herald and The Age to correct this.
ASIC deputy chairman Peter Kell said that it’s crucial all firms ensure financial promotions are clear, fair and not misleading.
“Buying a home can be a very big step in someone’s life and claims about the cost of a home loan can dramatically impact that decision, so it is vital that these are accurate and truthful,” said Kell.
</body></html>

jduke-EHk3XBmHkn

NAB misleading home loan rates in ASIC spotlight

<html><body>
Macquarie Group research suggests Westpac was the most exposed to the property investor market, with investor lending accounting for 44% of its mortgage book.
Some 34% of CBA's book is investor lending, 29% at the ANZ and 28% at the NAB.
Westpac has the greatest exposure to the New South Wales property investor market.
The introduction of macroprudential policy to slow growth in parts of the residential property market could result in a decline in credit growth of as much as 7%, according to the Macquarie Group research.
It also concluded macroprudential policy could result in a 1% fall in big bank earnings, the banking website <a href="https://www.bankingday.com/nl06_news_selected.php?act=2&amp;stream=1&amp;selkey=17628&amp;hlc=2&amp;hlw=" target="_blank">BankingDay</a> reported.
UBS analyst Jonathan Mott recently said that after the financial system inquiry, it was inevitable the major banks will be required to hold more capital; with the requirement in the form of higher mortgage risk weights and additional capital buffers. 
Macquarie is expecting ANZ to report a net profit of $6.9 billion (up from $6.3 billion), when it releases its 2013/14 financial report this week. 
It expects Westpac to report a net profit of $7.5 billion (up from $6.8 billion).
And it expects NAB to report a net profit of $4.9 billion (down from $5.4 billion). NAB has already announced a $964 provision relating to UK conduct charges.
Macquarie analyst Mike Wiblin said the banks would ultimately pass on the costs of higher capital to customers by reducing the interest rate paid on their deposits.
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jchancellor-FAypfDUnLy

Westpac most exposed to property investor mortgage market

<html><body>
It’s not uncommon for lenders to increase their stable of products, reduce rates or even offer cash back incentives to appear more attractive to consumers.
Now online lender loans.com.au is in on the act, launching their value pack, which includes free property reports, financing planning and a conveyancing voucher with their home loan, which was named Australia’s cheapest in 2014 by Mozo.
The pack includes a 4.54% interest rate, with 4.56% comparison rate, a $150 conveyancing voucher, 100% offset facility, “Loan Tracker” service, $500 worth of financial planning and competitive home and contents insurance rates.
Kim Cannon, managing director of Firstmac, who are behind loans.com.au, said that the market has been flooded by borrower incentives in recent months, making it difficult to identify good value.
“The true cost or value of a home loan shows in the comparison rate, so borrowers should always look for the lowest interest rate and the comparison rate should be very close to the interest rate,” said Cannon.
Despite this, he doesn’t consider their new value pack to be a gimmick “like cash back that coincides with the date”.
“The value pack offers customers tangible benefits in a timely way, with property reports to help make the purchasing decision with confidence, discounts and vouchers to make conveyancing and insurance cheaper, Loan Tracker to streamline the application process, and financial planning to keep financial goals on track.”
Previously, <a href="/expert-insights/finance/competition-among-lenders-heats-up">Property Observer reported that six lenders have cash-back offers for home loan customers</a>. These include NAB, Newcastle Permanent and Commonwealth Bank, which are all offering up to $1,000 cash back. Heritage Bank and Homeloans.com.au are offering $600 and Austral Mortgage is giving back $500. A further 11 offer to waive fees.
</body></html>

Lenders add whistles and bells to remain competitive

<html><body>
The Real Estate Institute of New South Wales has called on the Reserve Bank of Australia to avoid restricting the property market by pushing up interest rates and expressed their disappointment at RBA governor Glenn Stevens’ property warnings.
REINSW president Malcolm Gunning said that six months ago Stevens was encouraging investment in real estate.
“Now that the public is buying properties with confidence the RBA has changed its mind and is being critical, giving warnings about investing in an over inflated market,” Gunning said.
“We are very disappointed that RBA Governor Glenn Stevens is trying to restrict investment in property by sending out warnings about buying property.”
He said that they are not only disappointed that the RBA is providing this advice, but also that they have “singled out” property.
“The fact is that investors are more confident about putting their money in Australian property compared to the uncertainty of the share market and the underlying mistrust of this sector following on from the GFC,” he said.
Gunning said that they admit that low LVRs of 95% are dangerous, but notes that the practice should be curbed by asking banks to be more responsible with their lending, rather than turning to interest rates to restrict the market.
“Using a broad tool such as interest rates to affect one sector of the market is unjust on all areas of the market and is inappropriate,” he said, noting they’ve regularly been used as a quick fix.
</body></html>

REINSW admits 95% LVRs are dangerous, but warns off inappropriate RBA rate hikes

<html><body>
Everyone knows Harvey Norman co-founder Gerry Harvey will want to mop up the last of his debt, but the Australian Taxation Office will also be watching closely when the first of former mining magnate Nathan Tinkler's four stud farm auctions gets underway this Thursday.
The Tax Office has taken the unusual step of registering two mortgages over the stud farms following their recent deed of settlement with the coal baron.
Title searches show one deed relates to a $20.1 million debt, signed last month between the Tax Commissioner and Tinkler himself (and witnessed by his sister Donna), five Patinack entities, and the companies that own the Newcastle Jets A-League team and formerly owned the Newcastle Knights rugby league team.
A separate deed over a $19.5 million debt, signed in May, is between the Tax Commissioner, the Tinkler group of companies and four Patinack Farm entities.
Tinkler reportedly owed Harvey about $40 million and was forced to break up his beloved Patinack Farm operation after a touted $130 million sale to a Middle Eastern consortium, led by <a href="https://www.crikey.com.au/2014/06/17/the-shadowy-bizarre-company-that-bought-tinklers-stud/" target="_blank">mysterious Dubai-based Cibola Capital</a>, fell through earlier this year.
A four-day total stud dispersal sale at Harvey’s Magic Millions auctions on the Gold Coast netted $34 million. Reports suggested Harvey has either been paid in full or was close to being extinguished. It is unclear whether the Tax Office ranks ahead of Harvey, or vice versa.
Listing agents expect somewhere between $43 million and $60 million is likely to be recouped in the four stud farm sales over the next fortnight.
The <a href="https://mail.privatemedia.com.au/owa/14.3.181.6/scripts/premium/redir.aspx?C=b6s5zWgaskCYAkXPp0B8zl_qmxN0wNEIQdGKzACICvDHDfRs7iuOVZDgKgu4U1-85jyRe4DvcX0.&amp;URL=http%3a%2f%2fwww.afr.com%2fp%2fbusiness%2fcompanies%2fcould_nathan_tinkler_get_rich_on_BxEbmluMbhwE6sxjmsXAyH" target="_blank">Australian Financial Review reckoned</a> the sales would leave Tinkler with a fortune of $50 million to “play with” but the tally does not include outstanding tax debts, or the other unpaid creditors lining up against him.
Auditors Ernst and Young filed a wind-up application against a number of the Patinack Farm entities in July, andCrikey is aware of numerous other claimants who say they are owed money by Tinkler.
Once a billionaire, Tinkler had hoped to use the proceeds of the Patinack Farm sale to fund a comeback in the coal industry, but <a href="https://mail.privatemedia.com.au/owa/14.3.181.6/scripts/premium/redir.aspx?C=b6s5zWgaskCYAkXPp0B8zl_qmxN0wNEIQdGKzACICvDHDfRs7iuOVZDgKgu4U1-85jyRe4DvcX0.&amp;URL=http%3a%2f%2fwww.crikey.com.au%2f2014%2f08%2f27%2ftinklers-last-roll-of-the-dice-to-get-back-into-the-coal-game%2f%3fwpmp_switcher%3dmobile" target="_blank">a deal to buy the mothballed Wilkie Creek mine</a> from American giant Peabody Energy collapsed in August.
A former mine electrician from the Hunter Valley, Tinkler struck it rich in 2008 when he sold his stake in the Middlemount coal project to Macarthur Coal, reaping a $442 million cash windfall. In a giant shopping spree he snapped up mansions, jets, supercars and football teams and blew an unprecedented $300 million to establish his own racing dynasty, Patinack Farm, fulfilling a childhood dream. Over the past two years, Tinkler has lost control of most of his assets. The NRL <a href="https://mail.privatemedia.com.au/owa/14.3.181.6/scripts/premium/redir.aspx?C=b6s5zWgaskCYAkXPp0B8zl_qmxN0wNEIQdGKzACICvDHDfRs7iuOVZDgKgu4U1-85jyRe4DvcX0.&amp;URL=http%3a%2f%2fwww.theherald.com.au%2fstory%2f2364195%2fgame-over-how-tinkler-lost-the-knights%2f" target="_blank">took ownership of the Knights in June</a>, and the Jets are for sale.
Patinack Farm, Canungra, Queensland, is the initial offering, with 447 hectares comprising four properties known as Wadham Park, Elysian Fields, Benobble and Sarahvale listed through LJ Hooker Surfers Paradise.
The price estimates for the four ­Canungra properties range from $18 million to $23 million in total.
LJ Hooker agent ­Cameron McPhie has advised at least five international buyers have inspected the property, with three from Hong Kong, and one from Europe and one from the US.
Next week, Patinack Farm's Hunter Valley ­complex, Richmond Grove Stud, a 1337-hectare property goes under the hammer, likely to fetch between $17 million and $25 million.
Patinack Farm's 1397-hectare Tremayne property in Broke will also go up for October 30 auction with sale estimates around $6-$9 million.
The final Patinack property Banoon, in Monegeetta, Victoria, has been scheduled for an October 31 auction with Keating Real Estate suggesting a sale between $2 million and $3 million, which would represent a loss.
*Paddy Manning is the author of <a href="https://mail.privatemedia.com.au/owa/14.3.181.6/scripts/premium/redir.aspx?C=b6s5zWgaskCYAkXPp0B8zl_qmxN0wNEIQdGKzACICvDHDfRs7iuOVZDgKgu4U1-85jyRe4DvcX0.&amp;URL=http%3a%2f%2fwww.blackincbooks.com%2fbooks%2fboganaire" target="_blank">Boganaire: The Rise and Fall of Nathan Tinkler</a>, published by Black Inc and available in bookstores now (RRP $29.99).
This article first appeared on <a href="https://www.crikey.com.au" target="_blank">Crikey</a>.
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po-LsXgBTHBmX

Nathan Tinkler horse stud farm sales come with ATO mortgages

<html><body>
Guest observation
Buying your first property, whether for yourself or as an investment, is arguably the most significant financial decision you'll ever make.
I've advised dozens of first home buyers and have seen how mistakes can be made due to inexperience and emotions. Some mistakes can have disastrous financial consequences.
So here are my top legal tips for first home buyers:
<ol>
<li> Never trust a real estate agent. They are not working in your interests: they are there to sell their client's property. While some of my dearest friends are agents, I'd never take anything they'd say about someone else's property at face value. If they claim pets are allowed, check with the Owners Corporation or Body Corporate. If they say an off-the-plan apartment will be a certain size, ensure it's written into the contract. If they tell you to hurry and sign the contract before "it's too late", make sure you're had a lawyer look at it first. While it can feel like you've found "the one" and your heart is set on it, there are new properties coming onto the market every day of the week. It's just not worth risking your financial security by being reckless and rushing. Take the leap when you're ready: not when the agent is. 
</li>
<li>Don't assume anything, check! You might have grand plans for the future, but don't assume this is legally possible. Do your homework in advance. If you are thinking about knocking down an old house and building a new one, check with the Council that this is permitted under the planning scheme and make sure you know if there any easements that you could be prevented from building over. If you are planning to run a business out of an apartment, check that the Owners Corporation or Body Corporate rules allow this. If you're buying an investment property, get an independent rental appraisal. Be armed with all the information you need in order to make an informed decision - and to avoid nasty surprises. 
</li>
<li>Be careful with off-the-plan apartments. Spacious and well-lit display units are not a representation of your finished off-the-plan apartment. The fine print of the contract will make it clear that you cannot rely on what you see in a display unit. Some smallish one bedroom apartments can be difficult to obtain finance for. Aim to specify in the contract as much detail as possible about the fixtures and fittings. The developer will have the right to substitute these for similar brands, which is why it is important to specify a quality baseline brand. Off-the-plan developments can take up to five years to finish and the contract will specify a "sunset" date. The agent might say "x months until completion", but be prepared for the full period to run as set out in the contract. 
</li>
<li>Thoroughly inspect the property first. With an existing home, the condition that the property is in on the day you sign the contract is the condition you should expect to receive the property in. If the oven wasn't working on the date of sale, bad luck. Turning on all appliances, checking all light fittings, flushing all toilets and turning on all taps will give you an accurate picture of the state of the property. Look closely for newly painted gutters and window sills: are they masking rot or rust? Jump up and down on wooden floors – are they squeaky and uneven, indicating stump damage? You may even engage an independent building inspector and/or pest inspector to check for invisible but expensive problems like terminate infestation. Knowing exactly what you're signing up to can be a handy price bargaining chip when negotiating a private sale, but at the very least you'll know what you'll need to budget for by way of repairs.</li>
</ol>
Knowledge is power: happy house hunting!
Kate Ashmor is the principal of her own law firm, <a href="https://www.ashmorlegal.com.au" target="_blank">Ashmor Legal</a>, focusing on conveyancing. She also serves as deputy chair of Caulfield Park Bendigo Bank and as a board member of Alola Australia. She's the immediate past president of Australian Women Lawyers and <a href="https://www.womensagenda.com.au/" target="_blank">Women's Agenda</a>'s chief legal columnist.
 
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The essential legal tips for first home buyers

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Major infrastructure projects planned around the country could lead to a spate of compulsory property acquisitions and affected land owners are being warned to ensure they receive their full entitlements.
In one of the latest examples, Brisbane City Council announced in early October that it would resume 38 properties on Lytton Road as part of the Wynnum Road corridor upgrade.
Slater and Gordon practice leader Vincent Butcher said owners of affected properties on Lytton Road would know about the acquisitions by now and should already be seeking advice.
The acquisitions are scheduled to take place from mid-2016 through to 2017 with construction expected to begin in early 2018, according to Brisbane City Council.
"The acquiring authority is not going to hold their hand," Butcher said. "Land holders must be vigilant in getting the right entitlements. They can vary significantly depending on the acquisition and the timing."
Governments sometimes need to acquire, or resume, land owned by private individuals and businesses to make way for projects such as road and rail expansions, new electricity, gas or oil facilities, or public buildings like hospitals.
When this happens, the first step in the process is that the acquiring authority must serve a notice of intention to resume, which is an official document. That's not necessarily a letter of offer for compensation, Butcher explained.
Compulsory land acquisitions are subject to a legal process where affected owners have statutory and common law rights. They have three years from a specified date to come to a resumption agreement with the acquiring authority.
"It's better to get advice early rather than wait to a later time," Butcher said. "The reason for that is that once that [three year] statutory period expires they are exempt from making claims."
An acquiring authority can make an offer but typically the owner must obtain their own legal and valuation advice and put forward a compensation claim. That includes the market value of the property and also claims for extensive disturbance, which depend on each individual case.
Legal and valuation advice costs form part of the disturbance claim, so it makes sense to get the best advice available, explained Butcher.
One property owner may receive a different compensation figure from their next door neighbour even if the market value of their properties is identical, he said.
Butcher said land resumptions were a niche area that involved both valuation and legal advice, and it was important that land owners approached parties that specialised in the areas and worked well together.
"They need to get the right people to do the right job because you only get one chance," he said.
In one case Butcher worked on in Queensland, which concluded about 18 months ago, the land owner received eight times more than the initial compensation offer.
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What to do when you have to give up your property for new infrastructure

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Property fraud is one of the worst nightmares of home owners, with recent reports of unidentified third parties attempting to sell other peoples’ homes while the owner is abroad.
In July, an owner was living in South Africa and <a href="/news/act/absentee-macgregor-landlord-loses-act-home-to-south-african-fraudster">found that his Canberra house had been sold </a>after contacting his ACT property manager, having not received four expected rental payments.
The ACT Police became involved to rectifying the issue.
However, what can you do to ensure that things don't get that far for your property? The Office of Regulatory Services has 15 steps that all property owners can take to protect themselves.
They note that investment properties are generally more at risk than owner-occupied homes.
The 15 steps to take:
<ol>
<li>Before selecting an agent, ask questions about their procedures when dealing with overseas owners. 
</li>
<li>Keep in regular contact with your agent. 
</li>
<li>Pre-establish security questions with your property manager/agent, that only you will be able to answer, and requesting these security questions be used whenever the property manager/agent contacts you. The security questions should be established verbally and not written in an email, as emails may be compromised if the account has been hacked. 
</li>
<li>Regularly check that your property manager/agent has your current and correct contact details on file. 
</li>
<li>Ensure that your property manager/agent has a process in place to verify any requests to change your contact details, for example by sending notifications to both the old and new addresses, both electronic and postal. 
</li>
<li>Ensure that your property manager/agent has your correct signature on file and that they check all signed documents to confirm the signatures match. 
</li>
<li>If travelling overseas, ask a family member or close friend to keep an eye on your property and to keep in contact with your property manager/agent on your behalf. This person should be introduced to the agent by you and security questions should be established for them as well. 
</li>
<li>If possible, keep in touch with neighbours so they can advise you of any changes in the property. 
</li>
<li>Check rental statements regularly. 
</li>
<li>Protect personal information by using secured mailboxes for mail deliveries and shredding or burning letters before disposing of them. 
</li>
<li>Be wary of giving personal and/or financial information to third parties, either by phone or email. 
</li>
<li>When replying to an email, typing the known genuine email address rather than simply clicking the ‘reply’ button – an email may have a hidden address in it. 
</li>
<li>Regularly change passwords for email and banking accounts. 
</li>
<li>Never click on any links contained in emails from unknown sources. 
</li>
<li>Install anti-virus/anti-malware software on personal computers and keep it up-to-date.
</li>
</ol>
 Source: Office of Regulatory Services
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15 steps to avoid property fraud: Office of Regulatory Services

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Intention is the magic ingredient that dictates how a gain from subdivision is taxed, explains Property Tax Specialists’ Shukri Barbara.
If your intention is to realize the capital gain in a property then you will be taxed differently to if your intention is to make a profit in some fashion.
Barbara provides an example of a situation where the property is used as a main residence only. In 2013, the value has increased to $490,000 – when it was purchased in 2005 it cost $250,000.
They subdivide the block, and then sell the vacant land.
Barbara explains that for this specific situation, the gain is capital – with a 50% discount available as it is a “mere realization” of capital. In this case, the cost base of the vacant block would be based on the valuation from a valuer, the Development Application (DA) costs and any improvement required by council.
He suggests to only subdivide when ready to sell, as it allows the owner to maintain the capital gain exempt status for longest, as subdividing demonstrates intention as it is solely to realize capital gains.
Subdividing early and “waiting” is an indication of intention to a profit making undertaking, he warns.
It’s also worth noting that knocking down the main residence before selling significant changes the character of the asset, and may see capital gain tax (CGT) payable. Similarly, registering for GST can also be an indication of an intention to make profit.
Here’s another example:
A couple acquire a house in 2012 and lodge a DA in 2013 to knock down the existing houe, subdivide land and construct two townhouses.
The intention – that key word again – is to occupy one as the main residence, and sell the other one to help fund the main residence.
The owners have no background in building or associated industries and no history of development.
Barbara explains that in this situation it is likely the new main residence is exempt from CGT if it is established as main residence on purchase and is occupied for a period of, say, three months.
It must also be re-occupied within four years and the dwelling must be used for at least three months after completion.
If it is not treated in this way, CGT will be apportioned over time owned.
On the second part of the property, it will be taxed as business income.
GST implications include registration, GST on a portion of the sale price, credits on materials and services on purchase.
Barbara explains that if you sell the vacant block without development it is likely to be a capital 50% discount.
However, constructing and renting out the second block shows intention of investment, which on a later sale may access 50% discount but includes issues such as cash flow.
In fact, planning is critical. In some situations, Barbara notes that the numbers may actually find the after tax position preferably with the sale of the second block vacant rather than developed.
Barbara also warns that subdivisions cannot take place in a self-managed super fund for a number of reasons, mainly because it is high risk.
He notes that the intention is not required to be formally recorded anywhere, and the tax office bases intention on the way that the actions are taken out.
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Why CGT and subdivision is all about intention: Property Tax Specialists

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If you’re buying a property or renovating this spring season, it’s worth considering how depreciation plays into the equation. Even a couple of small decisions can have a significant pay off.
Tyron Hyde, chief executive of quantity surveying firm Washington Brown explains that there are some items that can be depreciated at 100%. Essentially, this allows you to maximise your return from the start.
“Depreciation is really about claiming the wear and tear on your property, from carpets and blinds to ovens and dishwashers,” Hyde says.
“It’s a way to reduce your taxable income and it’s perfectly legal,” he says.
He suggests new buyers remember that new properties have a higher rate of depreciation, and that higher developments can have more claimed on them due to lifts and structural requirements.
Developments with pools and gyms can also often see more claimed, due to a higher ratio of plant and equipment to the purchase price, and he notes that lower priced properties have a higher depreciation ration.
Here are his four tips to remember:
<ol>
<li>
Individual items under $300 can be claimed immediately. If you’re buying a microwave, buy one that’s $299 instead of $319. This is better than depreciating it at the prime cost rate of 10% per annum (or $30 in the first year). That’s a 1000% increase. 
</li>
<li>
Big ticket items can be claimed too. If your portion of an expensive item is under $300, you can claim it. For example, a garage door costs $2,500 in a building of 10 units therefore your cost is $250. This amount can be depreciated immediately. 
</li>
<li>
Items valued between $300 and $1,000 can be depreciated at a higher rate. Through the low value pool method, you can claim these at a rate of 37.5%. So if you bought an oven for $950 you can claim $356. 
</li>
<li>
Split your report to get more. If you have bought a property as a group, say with family or friends, as your Quantity Surveyor to split the depreciation report between the investors to get more bang for your buck.</li>
</ol>
“Depreciation is the only non-cash deduction available to property investors,” says Hyde.
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