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.

Joel Robinson

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 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

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?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Opportunities are increasing for vendors to advertise and sell properties themselves online, bypassing the use of estate agents and potentially avoiding thousands of dollars in commission.
Earlier this month a new player entered the DIY space – Intouch Real Estate founded by former Wizard Home Loans’ Paul Ryan – which immediately sparked an expected outcry from real estate agents on industry website Real Estate Business.
Ryan says selling your home yourself is a challenge vendors need to be up for.
Some of the issues DIY sellers must deal with, Ryan says, include ensuring photos, floor plans and description are true and correct, that vendors don’t misrepresent the property or mislead potential buyers, the negotiation process, attracting enough interest in the property and being at the open for inspections.
“Some people don’t like the concept of meeting people attending inspections, answering questions or hearing negative comments about their property,” he says.
But he maintains the sale process is far more transparent.
“The vendor can accept the offer they wish to accept and not be coerced into waiting until the campaign finishes or the auction date and potentially lose a buyer,” he says.
“You obtain genuine feedback, not clouded by real estate agent talk,” Ryan says.
And if the DIY campaign does not prove successful, Ryan says the vendor still has the option of transferring the sale to an agent.
Lorri Baxter, operations manager from Commission Free Real Estate (crfe.com.au), which offers to assist DIY sellers, says most vendors who go it alone have no idea of how to present their property, have an over-inflated opinion of the worth of their property and don't know how to finalise a sale if they find a buyer.
CRFE's service includes a professional advertising script, helping with negotiation and getting DIY listings on websites like realestate.com.au.
"In years gone by, many people have felt they needed to list with a local real estate agent to obtain a successful sale. Let me tell you, those days are long gone! It has become increasingly popular to sell your own home, as this is the only way to avoid paying excessive agent fees," she says.
Among Australia’s most dominant online real estate listings providers – realestate.com.au, domain.com.au and realestateview.com.au – only Domain.com.au provides what it calls a “self-service” offering, and most estate agents, not surprisingly, are firmly against the idea.
Robert Larocca, policy and public affairs manager at the Real Estate Institute of Victoria (which runs realestateview.com.au), says the trend of DIY selling has become more obvious because of the internet but warns that it has always “represented a false economy and still does – regardless of the apparent ease of the internet.
“In the first place, it simply may not be cheaper; many of the websites are simply conduits for a range of service providers seeking to sell a range of services that are often included in the professional fees charged by estate agents.
“Secondly, by not utilising the professional services of agents, consumers can be left exposed. They are less likely to get the best sale price and face the likelihood of having to spend countless hours doing the work normally done by their estate agent. “It may seem cheaper, but will it really be cheaper when you take into account the cost of your time and a lower sale price?”
Despite the large number of online DIY sites (see our list below) DIY listings make up a tiny proportion of the overall market.
As an example, for the post code of 2000 (Sydney CBD), realestate.com.au has over 750 listings while Domain.com.au has nearly 950.
Buymyplace.com.au – which claims to be the no.1 DIY listings website - lists just six properties for sale in the same postcode.
The results are similar for other postcodes Property Observer tried such as 3000 and 2011.
Vendors who do wish to explore the DIY route have a number of online ventures that offer services tailored at this market.
Services range from simply providing a template to completing an online listing to providing a collection of services such as featured listings on sites like realestate.com.au, organising professional photographs, preparing property reports, providing open-for-inspection signs and providing a legal partner for conveyancing.
Most charge a base fee, which rises as more services and features are added to a basic agreement.
Aside from the challenge of marketing, promoting and dealing with buyers, there are also legal obligations and potential hurdles, which can land DIY sellers in trouble.
Vendors must engage a solicitor or conveyance to ensure the necessary legal documents are in place and to also hold the deposit in trust.
Other challenges include estimating a fair price, vetting potential buyers and determining a settlement period.
Despite these challenges, there are numerous well-known advocates for DIY sales
Hotspotting.com.au’s Terry Ryder published a book Real Estate Without Agents, while consumer advocate Neil Jenman also backs the practice as a way to avoid commission costs and the risk of dealing with an unscrupulous agent.
Property Observer has scoured the internet to come up with a comprehensive list of online DIY offerings:
<a href="https://www.intouchrealestate.com.au/" target="_blank">www.intouchrealestate.com.au</a> 
Cost: starts from $995
Services: Access to LiveOffer system which allows vendors to monitor offers on their property online and in real time, yard signs, in-house online listings, listing with realestate.com.au, domain.com.au, promotional flyers. A more expensive vendor-assisted offering is also available for $1,995.
<a href="https://www.buymyplace.com.au/" target="_blank">www.buymyplace.com.au</a>
Cost: starts from $270 to $599
Services: Listing on bymyplace.com.au, for sale sign, six photographs. Auctioneering services, property reports, sales contracts and price negotiation services can be purchased for an extra charge.
<a href="https://selfservice.domain.com.au/">selfservice.domain.com.au</a> 
Cost:  $250 - $499
Services: The ability to build your own listing online and then publish it on domain.com.au. Prices vary dependent on suburb location.
<a href="https://www.forsalebyowner.com.au/">www.forsalebyowner.com.au</a> 
Cost: starts from $699 
Services: Listing on forsalebyowner.com.au, realestate.com.au plus other smaller listings websites, for sale board, property report, printable brochure and ability to manage your own account.
<a href="https://www.noagentproperty.com.au/">www.noagentproperty.com.au</a>
Cost: $295 
Services: Listing on noagentproperty.com.au, 12 photos, unlimited description and time, listing on the Trading Post online.
<a href="https://cfre.com.au/">www.cfre.com.au</a> 
Cost: $699 for “value plus” package (also offers $299 “sell it quick” package)
Services: This is a vendor-assisted offering. It includes a six month listing on realestate.com.au and Domain.com.au, for sale sign and sold sticker, property brochure, solicitor/conveyancer advice form, how to negotiate kit.
<a href="https://www.propertynow.com.au/" target="_blank">www.propertynow.com.au</a>
Cost: $390 listing fee + $90 recurring monthly fee 
Services: Online listing on propertynow.com.au, plus option to buy for sale sign for $75
<a href="https://www.forsaleforlease.com.au" target="_blank">www.forsaleforlease.com.au</a>
Cost: $399 + $99 per month or $795 until sold 
Services: Listings on all major websites, ability to change ad yourself. Extras cost for for sale signs, photographs, a listing on domain.com.au, floorplans etc.
<a href="https://www.owner.com.au/" target="_blank">www.owner.com.au</a>
Cost: $0 - $110 
Services: Standard listing on site with one photograph. For $110 you get unlimited photographs and a pair of for sale signs. Listings are free to renew.
<a href="https://www.diyrealty.com.au/" target="_blank">www.diyrealty.com.au</a>
Cost: $169  
Services:  This covers standard listing on site. ptional services. Optional services that can purchased at an extra cost include additional signage, feature listings and the option of listing on other real estate sites.
<a href="https://www.smartvendor.com.au" target="_blank">www.smartvendor.com.au</a>
Cost: $0 -$2,299
Services: The free offer includes an online ad, five photographs. The top package includes a Google advertising campaign, a listing on domain.com.au, personalised for sale sign and 300 personalised flyers.
 
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lschlesinger-FZcF9M3vE6

Selling the house by owner gets new website advocate assisting the DIY challenge 

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Greater financial incentives are being offered to first-home buyers in Victoria following the raising of the stamp duty discount for homes priced under $600,000 from 20% to 30%.
The higher discount kicked in on January 1, 2013, and applies to both existing homes and new homes, delivering first-home buyers additional savings starting from $600 to a maximum of just over $3,000 on a house price at $600,000.
First-home buyers can work out their stamp duty savings using this table provided the <a href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7" target="_blank">Victorian government’s State Revenue Office.</a>
Maximum stamp duty savings are now over $9,000. Combined with the existing first-home owners' grant of $7,000 there is nearly $16,000 in savings for those first-home buyers who are willing to venture into the property market in 2013.
The stamp duty discount will rise to 40% on January 1, 2014, and to 50% on September 1, 2014.
To qualify for the stamp duty discount, first-home buyers must also qualify for the $7,000 first-home owners’ grant.
All added up it means Victorian first-home buyers purchasing an existing home receive the highest amount of financial support from their state government.
South Australia, NSW and Queensland all offer higher total incentives and savings, but these are restricted to buying or building a new home.
This is what the other states are offering first-home buyers in 2013:
NSW
A first-home buyer who purchases a $550,000 new home will get $35,240 in assistance.
This includes a $15,000 grant for first-home owners who purchase or build a new home valued at up to $650,000. The grant is available until December 31, 2013, reducing to $10,000 from January 1, 2014.
Non-first-home buyers who buy a new home are eligible for $5,000 whether the new home is off the plan or newly built with a value up to $650,000, The $5,000 grant is also available to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
First-home owners are also eligible for a maximum stamp duty saving of $20,240 for homes up to a value of $550,000, with duty concessions for new homes valued between $550,000 and $650,000. The transfer duty exemption cap on vacant land is $350,000, with duty concessions for vacant land valued between $350,000 and $450,000.
Queensland
A $15,000 first-home owner construction grant (FHOCG) is available. The FHOCG applies to new property bought or built at a value under $750,000.
First-home buyers also pay no duty on purchases up to $500,000, with a phasing-out rebate applicable for values up to $600,000.
For non-first-home buyers, the Queensland government offers a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase. The buyer must occupy the home for a period of 12 months – an applicant may lose the concession if he sells or leases part or all of the home before moving in or within a year of moving in.
 
<hr class="system-pagebreak">
 
South Australia
South Australian first-home buyers have the chance to secure $23,500 from the state government, provided they build a new home.
The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into on or after October 15 and up to a value of $575,000, plus a further $8,500 housing construction grant (HCG). The housing construction grant replaces the $8,000 first-home bonus grant.
The HCG is available to all builders of new homes for properties valued up to $400,000, phasing out for properties valued up to $450,000 where contracts are entered into between October 15, 2012, and June 30, 2013, inclusive.
Concessions could rise to $39,830 if first-tome buyers buy an apartment off the plan in the Adelaide CBD under $400,000, where a stamp duty concession of $16,330 applies.
This part of a new stamp duty concession scheme available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330.
An example where a $39,830 saving would be available to a first-home buyer is <a target="_blank" href="https://www.realestate.com.au/project-aria+on+gouger-sa-adelaide-600000551">Aria on Gouger Street </a>being developed by Brock Urban Projects, where two-bedroom apartments are priced from $335,750.
Up until June 30 2014, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
 
WA
A $7,000 first-home owner grant remains in place for a newly constructed or established home. It does not apply to vacant land purchased to build a new home. The total value of the home must not exceed $750,000 if the property is located south of the 26th parallel of South Latitude, or $1 million if located north of the 26th parallel of South Latitude. First-home buyers eligible for the $7,000 grant pay no stamp duty on homes valued up to $500,000 and up to $300,000 for vacant land.
ACT
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000.
Tasmania
A $7,000 first-home owner grant remains in place for both existing and new homes, with no cap on the value.
Tasmanian first-home buyers buying or  building a new home (including off-the-plan) are eligible for an additional $8,000 under the First Home Builder Boost Scheme, which applies from January 1 2013 to June 30 2014 if the qualify for the first-home owner grant.
Northern Territory
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000.
The NT government also offers first-home owners stamp duty concession of up to $26,730 (the duty owed on the first $540,000 value of a property).
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Victorian government offers bigger carrot to first-home buyers: Government housing incentives in 2013

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Just 793 first-home buyers took advantage of the revised NSW first-home owners' grant in December last year.
There were 4,233 recipients in the prior December.
The numbers were also down in November last year with 1,763 recipients.
There had been a 2,920 monthly average over the past two financial years.
The December figure was the lowest since the <a target="_blank" href="https://www.osr.nsw.gov.au/lib/doc/stats/fhog_apps_received.pdf">first-home buyers' grant was introduced in 2000 </a> as a measure to offset the introduction of the GST.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/01/fhbjan15.gif" title="Click to enlarge"><img src="/images/stories/2013/01/fhbjan15thumb.gif"></a>
However the NSW opposition has accused the NSW government of "locking young people out of the housing market after the state recorded the lowest numbers in two decades".
The acting opposition leader Linda Burney blamed the drop on the government's decision to scrap the all encompassing $7,000 first-home owner grant along with stamp duty exemptions worth up to $17,990 for first-home buyers purchasing existing homes.
Only buyers of new apartments and houses now qualify for the grant. The $15,000 first-home owner grant (new homes) started in October last year. The grant will reduce to $10,000 in January 2014.
The data was confirmed by the Australian Bureau of Statistics (ABS) showing only 1,383 loans for first-home buyers were approved in November last year.
This is the lowest ABS figure since February 1992, Burney says.
"These figures show Barry O'Farrell has locked first home buyers out of the property market," she said in a statement on Tuesday.
"The premier's decision to dump first-home buyer grants and stamp duty exemptions has been nothing short of devastating for young people trying to buy their first home."
Burney said first-home buyers buying an existing $500,000 home in November 2012 were forced to pay $24,990 more than they would have a year earlier.
"The O'Farrell government has created the worst environment in 20 years for first home buyers trying to enter the housing market," she said.
Acting Treasurer Greg Pearce told Fairfax Media the fall was due to a period of transition to the new grant. 
"This was a difficult decision. However, we believe this is necessary to make buying a new home or apartment relatively more attractive than buying an existing dwelling."
Murray pointed out that Queensland, which made similar policy changes also taking effect in October, suffered a 33% fall in loans taken out by first-home buyers in November.
"I think it's too early to tell what impact the NSW grant is having," he said. "Clearly, during the periods of transition you get some strange things happening."
The Housing Industry Association economist Geordan Murray also said it was appropriate to wait for a few more months' data before drawing conclusions.
Westmead and Liverpool, with about 550 recipients, were the suburbs with the highest uptake during 2012. 
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jchancellor-FAypfDUnLy

NSW first-home buyer numbers fell to 20-year lows in late 2012

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Queensland-based bank Suncorp financed 6.1% of all first-home buyer loans arranged by AFG mortgage brokers over December, according to new AFG figures.
It was the top-ranked lender outside the major banks with nearly 40% of all first-home buyer home loans processed in December either financed by the Commonwealth Bank or its subsidiary Bankwest, the latest AFG’s quarterly Competition Index shows.
Second on the non-major bank list was AFG’s own mortgage products, which accounted for 5% of all first-home buyer loans, up from 1.9% at the start of the year.
The other non-major bank lenders to appeal to first-home buyers were WA government-owned lender KeyStart with 4.9% of the market, recording the “most dynamic performance among non-major lenders” growing market share from just 0.1% in January.
ING Direct (2.1%) and South Australian government lender Homestart (1.1%) were the only other non-major bank lenders to pick up more than 1% of the first-home buyer market.
According to the index, the CBA accounted for 29.6% and Bankwest for 9.3% of all first home loans in December with the major banks taking 77.5% of the first-home buyer mortgage market.
The Commonwealth Bank’s success with first-home buyers has helped it pick up overall mortgage market share, which has risen from 17.4% in January to 20.7%
Despite accounting for nearly one in 10 first-home buyer home loans in December, Bankwest’s share of the total mortgage market has fallen from 7% to 4.2% over the past 12 months.
AFG bills itself as Australia’s largest mortgage broker, with its brokers writing one in 10 home loans in Australia.
NON MAJOR LENDER MARKET SHARE FIRST HOME BUYERS DECEMBER

Suncorp 6.1%

AFG 5.0%

ING 2.1%

Citibank 0.7% -

Macquarie 0.2%

Circle 0.2%

AMP 0.4% -

ME Bank 0.8%

Liberty 0.4%

Pepper 0.1%

Homestart 1.1%

Wide Bay 0.8%

Adelaide 0.1%

Heritage 0.3%

Rock 0.1%

Keystart 4.9%

Other 0.3%

All Non 22.5%

 
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Suncorp ranks as top non-major bank first-home buyer lender as Commonwealth Bank grabs lion’s share of market: AFG

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One of oldest clichés in journalism is that they never let the facts get in the way of a good story. And we’re seeing that shallow principle in play daily as media hammer the myth that first-home buyers are being squeezed out of the market.
All the available facts say otherwise.
Last week two new reports were added to the great pile of evidence that affordability is particularly strong right now. Some of the regular indexes have affordability at its best in 10 years. The one published quarterly by the Commonwealth Bank and the Housing Industry Association showed further improvement in the September quarter, with all capital cities benefiting.
Financial ratings firm Canstar published research showing that while the national average mortgage is today four and a half times bigger than it was in 1990, affordability is much better today than then because interest rates are much lower and wages have risen. Repayments as a proportion of income are considerably lower than they were in 1990.
We can add that to the ABS report which found that average house prices, relative to average incomes, are today at the same level as they were in 1995; and to the affordability index published by the Adelaide Bank and the Real Estate Institute of Australia, which basically concurs with the Commonwealth Bank report.
The thing that appears to conflict with all that evidence is that first home buyer numbers are low at the moment. Far too many attention-seekers are leaping to the erroneous conclusion that the only possible explanation is that young people cannot afford to buy.
The real explanation has nothing to do with affordability. It has to do with choices. Many recent surveys have found that today’s twenty-somethings are not prioritizing home ownership the way previous generations did. They are opting for lifestyle and travel. Home ownership can wait.
The surveys indicate many young adults prefer to rent in an inner-city suburb rather than moving to the suburbs and taking on a mortgage. Some are renting in the city while getting on the property ladder by buying an investment property in a cheaper location, often a regional centre.
It’s a major demographic shift, similar to the one that has Australians delaying parenthood. We no longer live in a nation where young adults move automatically to marriage, children and a suburban mortgage.
But someone seeking a bit of media limelight can always generate some cheap publicity by declaring the ‘Great Australian Dream’ dead. Media will always run that and in a nation of 23.3 million people you can always found a twenty-something malcontent willing to have a public whinge about how hard it is to save a deposit.
Journalists seem to think we’re all desperate for news about the sad plight of the wannabe first home buyer. They apparently imagine Australians are gathered in pubs and homes across the country talking about nothing else. What else could explain their obsession for this story line?
I have to confess I’m not interested in first home buyers. Even at their peak they have never been a major force in real estate and their importance to the property market and to the nation is greatly over-rated.
Buying a first home today is what it has always been: really hard. It’s a massive commitment and you have to really want it. It takes compromise and sacrifice. If you want it badly enough, you’ll go get it. It has always been thus.
The nation offers everyone shelter. But no one has a divine right to own the shelter. And certainly no one has a right to achieve ownership in their dream location as a first purchase.

<hr>
Terry Ryder is the founder of <a rel="nofollow" href="https://www.hotspotting.com.au/" target="_blank" style="font-size: 14px;">hotspotting.com.au</a> and you can contact him via <a target="_blank" href="https://mailto:%20ryder@hotspotting.com.au">email</a> or on <a target="_blank" href="https://twitter.com/hotspotting" style="font-size: 14px;">Twitter</a>.
 
 
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terryryder-YECXbqmri2

First home buyer affordability is as good as it has ever been

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Hi Margaret,
I'm a new investor and I'm about to invest in a property in Broken Hill. The property is vacant at the moment but the real estate has advised a potential rent of $200.
I'm also yet to do a building and pest inspection. 
Would you be able to give me some advice?
Kind regards,

Ashis
 

When new investors begin the process of choosing their very first investment property, usually they are motivated and guided by the desire to get something as affordable as possible.  In doing so, they consider a price range within their budget, and then go looking for a house to match.  Next, they usually find out the rent return and if it seems as if it will provide a reasonable cash flow, they believe they have a good buy on their hands.
The problem with this approach is that, while it means that you will buy something within your comfort zone in terms of price, with a rent return likely to cover most costs so that your weekly personal cash flows are not too badly impacted, it completely ignores one of the most important features of successful investing – and that is buying a property which will grow and so increase your net worth.  While getting a neutral or positive cash flow is indeed of considerable importance (as highly negative cash flows can cause financial distress and potential early exit), owning property which never grows (or grows very little) will do no more for you than never owning property at all!.
Broken Hill, in my opinion, falls within the category of an area which has affordable housing  and rental yields of over 6%.  However, it has a population which is only not growing; in 2011 it lost 80 people!  There are over 500 properties currently listed, with only four people looking per property available, as compared to a state average of 20.  Combined with a lack of employment opportunities, these facts indicate that there are simply no drivers for property price growth and you’re likely to be left with a property which does nothing in the short and medium term, and likely in the long term too.  You will essentially buy yourself a headache (which most properties are, at some time), with no capacity for a reward at the end!
While I am definitely not a proponent of spending up big when it comes to buying investment property, I believe there is far more risk in buying a cheap property with no demand drivers than there is in buying a more expensive property in an area where you have confirmed employment opportunities, population growth and suitable provision of infrastructure.  Such an area can still have a rental yield sufficient to cover your costs and not stress your budget today,  and in addition to this it can provide growth of your asset and the capacity to leverage into more properties, and thus build a larger portfolio.
Regards,
Margaret
 
<hr>
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News.
She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
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Should I buy my first investment property in Broken Hill?

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There will be a Senate inquiry into affordable housing this year.
Just a fortnight before Christmas, Queensland Senator Jan McLucas, Labor's Shadow Minister for Housing and Homelessness, secured the inquiry that will investigate private and public accommodation, both ownership and rental.
<a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Affordable_housing_2013/Submissions" target="_blank">The economics references committee, currently taking submissions, will report by 26 June.</a>
Of course it was only 2008 when a Senate select committee on housing affordability in Australia last reported.
So just how much this latest effort involves dusting off the prior submissions and the final report will be interesting to note. It might be optimistic to expect many new understandings emerge.
This inquiry will look at the biggest bugbear - the role of all levels of government in facilitating affordable home ownership and affordable private rental, especially the taxes and levies imposed by the Commonwealth, state, territory and local governments.
It will provide a timely look at the operation, effect and future of the National Rental Affordability Scheme.
The regulatory structures governing the roles of financial institutions and superannuation funds in the home lending and property sectors will be reviewed. 
Issues including appropriate, affordable and adaptable accommodation that  ensures emergency and essential service workers have access to affordable housing close to where they work will no doubt be addressed.
Also the important role of innovation in building materials and construction, including prefabricated and sustainable materials.
Alreeady three submissions have been lodged .. no none from our Monday morning columnist Catherine Cashmore. She's of the view that it could be just a repeat version of the 2008 report entitled “A good house is hard to find: Housing affordability in Australia” which was detailed in its content.
"It’s five years later and we seem to be no further forward," Catherine suggests.
I argue we are actually probably the poorer. And the Abbott Government's inexplicable axing of the National Housing Supply Council does create a void that can, inpart, be filled by the senate inquiry.
But not with any great hope for significant change. I am inclined to agree with economist Saul Eslake that politics – more than any other single factor – means that Australians are likely to have to live with a dysfunctional housing system for a long time yet to come.
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2014: Dusting off the Senate's 2008 housing affordability report or real progress?

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Last year (according to the RP Data-Rismark Home Value Index), capital city home values rose by 9.8%, creating further affordability pressures for those segments of the market who are most price sensitive; the younger aged cohorts and first time buyers.  Our daily index data shows that home values have continued their strong pace of growth through the first month of 2014 with our combined capitals index likely to end the month slightly more than 1% higher.
Based on homes sold over the December quarter, the median price of a house across Australia’s capital cities is now $575,000; ranging from $775,000 in Sydney through to $350,000 in Hobart.  In the most expensive capital cities the challenge to buy a detached house within close proximity to where they work or socialise is simply out of reach for the vast majority of younger buyers.
<img class="aligncenter size-full wp-image-2844" alt="Chart 1" src="https://blog.rpdata.com/wp-content/uploads/2014/01/Chart-12.jpg" width="470" height="171" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;">
Housing finance data indicates that as a proportion of the owner occupier market, first home buyers are currently at a record low level, accounting for just 12.3% of all owner occupier finance commitments. 
If first home buyers aren’t entering the market now, at a time of historically low mortgage rates, one might consider how and when they will ever enter the market.  In my opinion it is not always a case of not being able to afford to enter the market, it is often that the sacrifices a potential buyer would have to make in order to enter the market are too great.
There are some clear reasons why housing in Australia is expensive, including::
<img src="/images/stories/2014/02/04/number-1.jpg" width="20" height="30" alt="number-1" style="float: left;"> Australian’s have high levels of personal wealth and high incomes relative to most other countries.
 <img src="/images/stories/2014/02/04/number-2.jpg" width="26" height="30" alt="number-2" style="float: left;">Australia’s population is heavily centralised with around 55% of the national population residing in either Sydney, Melbourne, Brisbane and Perth.
 <img src="/images/stories/2014/02/04/number-3.jpg" width="22" height="30" alt="number-3" style="float: left;">Job opportunities and employment availability tend to be most abundant within capital cities.
<img src="/images/stories/2014/02/04/number-4.jpg" width="22" height="30" alt="number-4" style="float: left;"> The supply of new housing within the capital cities has consistently been insufficient to meet the level of demand over the past decade or so.
<img src="/images/stories/2014/02/04/number-5.jpg" width="22" height="30" alt="number-5" style="float: left;"> Population growth is strong with relatively high levels of overseas migration and natural increase creating additional demand for housing.
<img src="/images/stories/2014/02/04/number-6.jpg" width="22" height="30" alt="number-6" style="float: left;"> The cost of vacant land has been driven to unaffordable heights due to the slow release of new residential land supply and the restrictions of urban growth boundaries in most capital cities.
<img src="/images/stories/2014/02/04/number-7.jpg" width="22" height="30" alt="number-7" style="float: left;"> Negative gearing (which is available on all asset classes) encourages many to invest in residential property as a way of reducing their tax liability which creates additional housing demand.
Although these factors all contribute to a relatively high cost of housing, it does not mean that purchasing a first home is unachievable.  An upcoming analysis which will be released by RP Data this month finds that as at the end of 2013, across the capital cities, 28.4% of all homes had a current value of less than $400,000. Even in a market which is considered significantly unaffordable such as Sydney, 17.5% (almost one in five homes) have a value below $400,000.  Of course most of these properties are not located in the desirable areas of the city, but they are available.
Many potential first home buyers either still live with their parents or rent within areas close to where they work and socialise. For those living with their parents, it’s likely that the home they are currently residing in was not their parents first home. I’m sure if you asked many of those parent’s they would say that their first home was vastly inferior to their current home (ie they upgraded when they could afford to). For those renting in inner city areas, the reason why property prices and rents are so high in these areas is that demand is very strong while supply is quite limited which in-turn results in the high prices you see within these areas.
Given this, the prospective first home buyer is, in most instances, going to have to make a sacrifice in order to enter into home ownership.  As I see it, first home buyers need to make one of two major sacrifices; either move away from their local area to an area where home values are more affordable in order to enter the market or buy something which is at the lower end of the local market (which will often be a unit rather than a house). The strategy for someone buying their first home should rarely be to buy at the  suburbs median selling price; it should be to buy an entry level property.  Of course varying levels of deposit and income will dictate what the purchaser can reasonably afford to borrow and repay.  Over time, the first home buyer should see some capital growth and it would also be reasonable to expect that they should also experience an improvement in their employment conditions (more pay/promotion/new role) which would eventually help in assisting them to upgrade.
Looking at my first home buying experience, the above scenario parallels my own. I have to admit, the home was pretty horrible but it was in the inner city location I wanted.
My first purchase was a two bedroom, one bathroom unit in Fortitude Valley in Brisbane.  The location was great but the unit was not so great.  The complex was largely utilised for short term accommodation and although the unit had two bedrooms and one bathroom, outside of those three rooms it had one further room which functioned as a kitchenette, lounge and dining room.  I purchased the property for $248,000 in July 2005 and sold the property in April 2010 for $334,000 effectively five years later.  At the time of purchase, the median unit price within the suburb was $309,240 and by the time of sale the median unit price in the suburb was $400,000.
The unit was purchased at a price well below the suburb median and upon sale the price had increased by 35%.  In comparison the median sale price across Fortitude Valley had increased by a lower 29%.  At the time I was single so I also had a friend come and live with me which assisted in making the mortgage repayments.
By the time I sold the property I had purchased a subsequent property which was a house, once again it was purchased at a price below the suburb’s median.  I had managed to make a profit on the sale of my first home and purchased a more expensive property, I had also benefitted from an increase in salary over the time which made repayments easier.
In my experience the choice to purchase a first home is never an easy one.  It is often the case that what you think you should be able to get for your money and what you actually can get are very different.  But having an understanding of your budget and doing your research to get a realistic expectation of what properties and in what location you can afford to purchase takes some of the pain out of the house hunting process and purchasing.
Undoubtedly some people will not be able or willing to purchase but bemoaning the high cost of housing in the local area is unlikely to change the situation outside of wide-spread changes to government policy(ies).
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
 
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Seven reasons Australia's housing is expensive; is it out of reach for first home buyers? 

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Recently there has been some national media commentary about an apparent slump in the number of first home buyers, with commentators saying this is due to unaffordable prices and competition from investors.
It’s important to note that this speculation is very east coast based and bears little resemblance to what’s happening here in Western Australia. Let’s look at the facts.
When the First Home Owners Grant (FHOG) was introduced in July 2000, this mechanism became a good way to record this demographic in the market. There were 1,430 FHOG applications across WA in July 2000 and the median purchase price for established homes among entry level buyers back then was $122,000.
Thirteen years later in June 2013, there were 1,840 first home buyers paying a median price of $430,000 on established property.
After more than a decade the numbers are steadily growing despite the accompanying price growth for dwellings.
For the last couple of years first home buyers have benefited from historically low interest rates, a stable and recovering housing market and the ongoing exemption from stamp duty for homes under $500,000. They are also eligible for a $3,000 grant when buying an existing property or $10,000 if building a new one.
This combination of factors has prompted very strong first home activity, particularly through 2013.
In recent years the number of first home buyers each month has been fairly steady at around 1,500 each month. For the past year however, it was trending up with monthly figures closer to 1,600 and 1,700 applicants. In October last year there were 1,969 applicants seeking to enter the first home buyer market and in December there were 1,573.
Around 20,000 first home buyers made their move last year. The Office of State Revenue reports that the median purchase price on established dwellings for first home buyers across the state is currently $438,000. That’s up by $28,000 on the same time last year and by $43,000 on 2012.   Of course the median is only the middle price which means that half of all first home buyers are purchasing under $438,000 and there is plenty of stock under $400,000, including house and land packages.
The percentage of first home buyers as a proportion of the overall housing market has been above average for some time and last year was at times almost 30% of the whole market.
There is little evidence that first home buyers in WA are being frustrated by competition from investors, as they are weak in the current market due to soft rents. While home affordability itself has rarely been better and this is reflected in the significant numbers of FHOG applicants and swift turnover with homes under $450,000.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>
<a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx"></a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
     
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WA is booming for first home buyers, unlike the east coast

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The decision by the Napthine Government to scrap its first-home owner grant for established house and apartment purchases from July 1 is simply extraordinary.
They only have to look north to NSW and Queensland to see the folly of their new scheme that offers incentives only for first home buyers who make new home acquisitions.
The Victorian treasurer Michael O'Brien says ending the first home grant for established houses brought Victoria into line with other states.
And what's been their experience?
Certainly terrific one-off headlines about the importance of job creation in the housing industry...and then quite simply first home buyers have gone awol.
The decision by first home buyers in NSW actually leaves the O'Farrell Government with a budget savings windfall given the dramatically reduced take-up of new home acquistion by first time buyers.
The NSW $7 000 first home owner grant for established properties ended on 30 September 2012. The scheme established to assist first home owners instead to purchase or build a new home offers a $15 000 grant from 1 October 2012.
NSW first home grants recipients have fallen from 2631 securing $18.77 million in grants in March 2012, to this March when there was a record low 624 recipients securing just $6.77 million to assist in their purchasing.
The same experience in Queensland which ended its $7000 basic grant scheme last October, replacing it with a $15,000 grant for new homes.
With just 217 grants recorded in the December quarter, the government website argues it will take several months before the impact of the Great Start Grant (previously known as the first home owner construction grant) can be clearly assessed, allowing for the lag between signing a contract and construction to build a home.
There had been a typical 4500 recipients in prior December quarters.
Latest Queensland State Government figures show that in the six months to March 28, there were just 805 first-home owners who received a $15,000 helping hand.
Technically the Federal Treasurer Wayne Swan has abdicated his responsibility when it comes to bringing the states into line.
Last December Property Observer's senior reporter Larry Schlesinger <a target="_blank" href="/news">wrote the Federal Treasurer appeared happy to allow the state governments to break their commitment to offer “universal” first-home owner grants</a> following the decisions by the NSW and Queensland governments to only incentivise new home purchases.
These decisions, aimed at stimulating the residential construction sector, are in clear contravention of state government commitments to provide a “universal” first home owner schemes (FHOS) to all buyers".
Speaking to Property Observer in November, Ray White chairman Brian White said the new grants were distorting the market “and not in a healthy way".
“It’s no longer a first-home buyer’s grant but a builder’s incentive,” said White who labelled it deceitful to describe it as a first-home buyer’s grant.
Of course there are also plenty of commentators, like me, who'd suggest any first home buyer's grant was most likely mis-directed creating unnecessary market distortions - and creating a gift for vendors.
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