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

Joel Robinson

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

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

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?

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Stockland Group has accepted Frasers Centrepoint’s offer to acquire its 19.9% holding in Australand.
Stockland will sell its holding of 113 million Australand shares at $4.48 a security.
The property group will net more than $80 million from the transaction.
It comes eight days after Frasers secured its effective takeover of Australand with around a 56% acceptance when the initial deadline fell.
“We have been disciplined with our investment in Australand with a clear strategic intent and view of value, and are pleased to have achieved a significant profit,” Stockland chief executive Mark Steinert told the stock exchange today.
The group plans to reinvest back into medium density residential and mixed use projects, and to grow its string of logistics and business parks.
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Mark Steinert recently announced the appointment of two new executives to its executive committee, with its Chief Investment Officer, and Group Counsel and Company Secretary, elevated to the executive team.
Darren Rehn has been appointed Group Executive and Chief Investment Officer with responsibility for capital transactions, capital partnering and business development activities. 
Mr Rehn joined Stockland as Chief Investment Officer in October 2013. 
Katherine Grace has been appointed Group Counsel and Company Secretary, coming with over 15 years’ experience including several years at Westfield Retail Trust. 
Phillip Hepburn, who has served as Stockland Group Counsel and Company Secretary since 2001, will be leaving Stockland.
Stockland’s executive committee will now comprise Mr Steinert and the following executives: 
<ul>
<li>
  Stephen Bull – Group Executive and CEO Retirement Living 
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  Katherine Grace – Group Counsel and Company Secretary 
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  Tiernan O’Rourke – Chief Financial Officer 
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  Darren Rehn – Group Executive and Chief Investment Officer 
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<li>
  Michael Rosmarin – Group Executive and Chief Operating Officer 
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  John Schroder – Group Executive and CEO Commercial Property 
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<li>
  Simon Shakesheff – Group Executive Strategy and Stakeholder Relations 
</li>
<li>
  Andrew Whitson – Group Executive and CEO Residential 
 
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jchancellor-FAypfDUnLy

Stockland accepts Frasers' Australand offer

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PARTNER CONTENT
In discussions regarding buying property the question of what type of property to purchase invariably comes up. People have predispositions towards one type or another, although generally it’s toward a house. But in today’s property market, is a house a smarter option over a strata-titled property such as an apartment or townhouse?
The two main objections encountered regarding strata property come down to not wanting to pay strata fees (or levies), and land accruing value faster for capital growth. The concern regarding strata fees could be considered as understandable, until you look into what they actually are.
Strata fees cover the daily costs and maintenance of the common property within the complex. This includes your parking, gardens, stairs and lifts, exterior walls and recreational facilities (pool, spa etc.), amongst others. It also covers the insurances and rates for these areas, as well as any electricity and water costs. A sometimes unknown component of a strata fee is the compulsory savings plan, also known as the sinking fund.
The sinking fund is there for any expected, and unexpected, repairs within the complex’s common areas. This could range from new carpets in the entry foyer, to damage as a result of structural movement. Overall, the components that form strata fees can generally be aligned to similar costs involved with holding non-strata titled property, sometimes less due to the number of owners contributing to the potential expense.
With comparative expenses regarding ownership costs, the issue of land having greater capital growth should be looked at. Unlike apartments, houses generally have useable land that contributes towards rising values. Established dwellings in good suburbs are fetching higher prices, however with block sizes shrinking nationally, the likelihood of a new house creating growth by being improved (subdivided, developed or renovated) is growing slim. This restriction of use, as well as a social shift in lifestyle choice, is changing the way houses are being viewed. In fact, <a href="https://www.rpdata.com/research/monthly_indices">RP Data</a>’s Home Value Index shows that apartments, rather than houses, have experienced higher growth in the past 12 months in all major cities except Sydney, Melbourne and Darwin.
Strata titled properties are also generally located closer to commercial and retail centres, and include amenities that are not found in comparably priced houses. Rather than leaning toward a specific property type, consider whether that type of property is suitable for the demographic of the area. Each location is going to have a type that will appeal and support levels of growth better than others, especially if there is an employment node within the area that also supports that demographic. In some areas a house may be suitable, in others a townhouse or an apartment.
Overall, don’t rule out apartments or strata-titled properties despite your predisposition towards a house. Because the next generation of buyers is also here: The hard-working, time-poor, social and inter-connected Gen-Ys that want to be near cafés, transport and amenities are looking to buy. They want to continue the lifestyle they lead and to them, that means strata living.
ANDREW HERBERT is partner of <a href="https://myfirstplace.com.au/Property-Observer" target="_blank">My First Place</a>.
My First Place is offering a buyers club to support buyers in finding their property.
For First Home Buyers there’s a package worth $4,200 that covers solicitor fees, mortgage application fees, building inspection, insurance and utilities.
For investors the package is worth $3,350 and it covers solicitor fees, mortgage application fees, building inspection, landlord insurance and a depreciation schedule.
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po-LsXgBTHBmX

House v apartment: What's the best option for your first investment?

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Real estate experts, commentators and industry members are regularly listened to carefully for tips and information on where to invest next and how the market is performing, among other advice.
However, every expert had to start somewhere. Property Observer asked a number of industry experts about their first homes, where they were, when they bought them and why. The results, which span across Australia, are a fascinating insight into their first step on the property ladder.
TERRY RYDER - <a href="https://www.Hotspotting.com.au" target="_blank">Hotspotting.com.au</a> <img src="/images/authors/fullbody/Terry-Ryder.png" alt="" style="float: right;">
<ul>
<li>Location: <a href="/news">Bundamba</a> in Ipswich City in the south-west of the Brisbane metropolitan area.</li>
<li>Price purchased for: $25,000</li>
<li>Year purchased: 1981</li>
</ul>
 Do you still own the property? 
No, I sold it in 1984 for $40,000 (which was 60% growth in three years, proving that ugly real estate in downmarket suburbs can show exceptional capital growth). I then bought a house in the eastern suburbs of Brisbane for $50,000, which I later sold for $110,000.
Why did you buy that property? 
It was what I could afford at the time: a small weatherboard box on a noisy road in a fairly dismal suburb, but it was affordable and it was close to a commuter train station.
Did you renovate?
No, no renovations.
Why did you want to buy? 
I was fed up with being mistreated by landlords, so I decided to buy my own place.
TODD HUNTER - <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup<img src="/images/authors/fullbody/hunter-profile-2.png" alt="" style="float: right;"></a>
<ul>
<li>Location: <a href="/news">Cronulla</a>, Sydney NSW</li>
<li>Price purchased for: $112,000</li>
<li>Year purchased: 1993</li>
</ul>
 Do you still own the property? 
No I don't, it sold for $256,000
Why did you buy that property? 
It was my first home, a one bedroom unit very close to the water with a tandem car space. It started a love for property for me that is still there.
Did you renovate? 
Paint and carpets only.
Why did you want to buy? 
It was my first home and my parents instilled the property bug in me early as I purchased when I was 19 (after much saving for the 20% deposit is set up costs with my girlfriend... There was no first home owners grant then either).
ANDREW WILSON - <a href="https://apm.com.au/" target="_blank">Australian Property Monitors<img src="/images/authors/fullbody/Andrew-Wilson.png" alt="" style="float: right;"></a>
<ul>
<li>Location: <a href="/news">Camberwell</a>, Victoria</li>
<li>Price purchased for: $95,000</li>
<li>Year purchased: 1986</li>
</ul>
 Do you still own the property? 
No. Good growth as purchased at bottom of the cycle before the 1988 boom.
Why did you buy that property? 
Great location, big block in a sleeper street - but in original condition (plenty of upside potential).
Did you renovate? 
I completely renovated and rebuilt.
Why did you want to buy? 
I’m Australian – the aspiration for home ownership is in our DNA.
MICHELLE COLEMAN - <a href="https://www.wfinancial.com.au/" target="_blank">W Financial<img src="/images/authors/fullbody/coleman-uly24-profile.png" alt="" style="float: right;"></a>
<ul>
<li>Location: <a href="/news">Quinns Rock</a>, WA</li>
<li>Price purchased for: H&amp;L for $95,000</li>
<li>Year purchased: 1995</li>
</ul>
 Do you still own the property? 
No, I bought it with my partner at the time.  He does actually still own the property and it is estimated to be now worth around $550,000 to $600,000.
Why did you buy that property? 
It was what we thought we could afford at the time (that was closest to the beach of course), but also we thought the area would have good growth.
Now I look back with all my knowledge with finance and investing and wonder how we could have made our decision that way!
Did you renovate? 
We had to do some landscaping as it was house and land.  
At one point I really wanted a spa - it wasn't ever fully installed (when I was there) but I'd sit in it anyway.
We didn't have fences though at the time, so random people in the neighbourhood would wander by to have a chat.
Why did you want to buy? 
It's the great Australian dream; I wanted that like everyone does. That property didn't quite go to plan, but it did give me an appetite that has made me the investor I am today.
Article continues on next page. Please click below.
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BRAD BEER - <a href="https://www.bmtqs.com.au/" target="_blank">BMT<img src="/images/2014/08/15/Bradley-beer-aug-15-profile.png" alt="" style="float: right;"></a>
<ul>
<li>Location: The property is located slightly to the west of the main city of Newcastle in a suburb called <a href="/news">Georgetown</a>, NSW. It’s quite close to the Newcastle Knights stadium and the University of Newcastle, right near a bus stop and 300 metre from a Coles.</li>
<li>Price purchased for: The property is a four bedroom, one and a half bathroom house on 400 odd square metres of land with a big shed in the rear. I purchased it for $170,000. The current rental of the property is around $440 per week.</li>
<li>Year purchased: 2002</li>
</ul>
Do you still own the property? 
I still own the property, which has been well-performing since the day I purchased it. In fact, I’m generally a believer in not selling property, particularly when it has demonstrated a great deal of growth. I haven’t actually sold a single house to date.
Why did you buy that property?
I actually went to Newcastle University myself, so I was familiar with the area which I still think is quite a good area. I wanted to invest into property and someone I knew who was buying property was looking at the area and brought it to my attention.
It looked pretty rough when I bought it, so we negotiated hard because it was originally listed at $198,000. I also liked that it had a sizeable shed, because I thought I might have been able to use it in some way for storage purposes – every man needs a good shed in his life!
Did you renovate? 
I renovated it a couple of different times actually. When I bought it in 2002, I basically spent the first few months on a pretty decent internal renovation. I pulled the kitchen apart and discovered that it was full of cockroaches, it was an absolute mess, even the bathroom was a mess – it was all in pretty bad shape. So I got stuck into it and put together a new kitchen and a new bathroom.
I also had to put in new flooring and piers, and completely reline the bathroom. I polished floor boards, I painted, I basically just spruced up the whole of the inside. Even though I didn’t change any of the internal walls there was still a fair bit of work to be done, but I probably only spent about $20,000 because I did just about all the work myself.
I worked nights and weekends in the middle of winter in the freezing cold, but then about six months later we did a re-evaluation and it came in at about $240,000. This was great because I hadn’t done any exterior renovations by that point, so it had still gone up even though it still looked pretty bad from outside. There was probably also a bit of market movement around that time which would have helped, so I was able to leverage into my second property pretty quickly.
Then in about 2005, I did a fairly extensive external renovation also. It had those old forever boards on it, which I ripped off to put new weatherboards around the whole of the house. I painted the roof and did a fair bit of landscaping, adding in a picket fence, a new driveway – just basically renovated the whole of the exterior. In 2007 I revalued it at $425,000.
I’m still going on it. About three years ago I put on a new roof because it was old and needed replacing. It probably needed replacing when I bought it actually, but I’d just patched it up and put up with it for a while until I could do it properly.
Why did you want to buy?
I’d been at BMT for about three or four years by that point, and had the opportunity to learn a great deal about investing in property. I’d also been to a number of different property seminars then, and have been to a lot more since, and believed I wanted to invest into property based on what I’d learnt about investing in property to generate wealth. I’d also saved up my deposit by then and so was just ready to go.
Essentially, being at BMT and being surrounded by investors all the time, learning about investing in property and the fundamental ways to do that – I decided: right, now it’s my turn.
VICTOR KUMAR - <a href="https://www.rightpropertygroup.com.au/" target="_blank">Right Property Group<img src="/images/2014/08/15/kumar-aug-15-profile.png" alt="" style="float: right;"></a>
First home:
<ul>
<li>Location: <a href="/news">Currans Hill</a>, NSW</li>
<li>Price purchased for: $137,000</li>
<li>Year purchased: 1998</li>
</ul>
 Do you still own the property? 
Yes. It was valued by the bank last week at $420,000. I lived in this untill 2006 and it is currently rented at $410 per week.
Did you renovate?
Removed carpets and put in floating floorboards because of my allergies. Also starting painting the trims at one stage, following a Peter Spanns renovation seminar in 1999, they are still half complete! During tenancy the only works I have done has been to replace a powerpoint... having said that I will now probably jinx myself!
First investment property:
<ul>
<li>Location: <a href="/news">Campbelltown</a>, NSW</li>
<li>Price purchased for: $70,000 (two-bedroom unit)</li>
<li>Year purchased: 1999</li>
</ul>
 Do you still own the property? 
No, I sold it in 2001 to fund the business startup for $185,000.
On purchase it was rented for $130 per week, on sale it was rented for $230 per week with the same tenant. Under the current market value it would be around $290,000.
I wish I hadn't sold and had bought more of these units back then!
MARGARET LOMAS - <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank">Destiny</a><img src="/images/authors/fullbody/Margaret-Lomas3.png" style="float: right;">
My first investment property, a one-bedroom unit. It had a green shag pile carpet and a weird T-shaped lounge, which we sectioned off with a wall to make a second bedroom.
<ul>
<li>Location: <a href="/news">Cabramatta</a>, New South Wales</li>
<li>Price purchased for: $28,000</li>
<li>
Year purchased: 1980 
</li>
</ul>
Do you still own the property? 
Back then no one understood leveraging.  I sold it to buy a three-bedroom townhouse in <a href="/news">Macquarie Fields</a>. In the two years we owned it, it grew by $6,000. That's probably pretty good!
Why did you buy that property?
My dad said we had to get into the property market, I was 20 and engaged.  It was the only area we could afford.
Did you renovate? 
We painted it, and added a shower screen to the tiny bath but that was all.
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jduke-EHk3XBmHkn

Where the experts bought their first homes

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Buying your first property can be nerve-wracking and in the public arena of an auction, even more so.
While purchasing a home is a big deal, it doesn't need to be the source of sleepless nights and endless stress. Here's our step by step guide to buying a property at auction.
<ol>
<li>
Attend auctions - lots of them If you thought researching your first home was all about finding your dream home, in your dream area, within your dream budget, you were wrong. You also need to know how to go about buying your dream property.  There are only so many articles on how to bid at auction you can read (even if they're <a href="/expert-insights/buying/twelve-tips-for-bidding-at-property-auctions">really good ones</a>).  What you really need is to go out and watch some auctions. Not one or two, but many - at least a dozen. Get a feeling of what the buyers are in your prospective area. Are they all nervous first home buyers making it on their own, like you? Downsizers? Well dressed hipsters bidding on their first homes, with their mothers standing slightly behind them, to the left?  Take note of the bidders - they're your competition. Get familiar with the terminology - do you know what a reserve is? A vendor bid? Did you realise that the reserve can change?  Viewing lots of auctions will also allow you to see how far prices tend to go above the price guide, if they do. What looks like a $400,000 property on a listing website might look like a $600,000 one to some on auction day. Use the opportunity different styles of various auctioneers, too. 
</li>
<li>Set your limit It's good to know well in advance how much you can afford to pay on auction day. There are lots of online calculators provided by lenders that will help you determine how much you can afford to borrow and pay for your first home. Remember, when it comes to budgeting for a big purchase, it pays to be prudent - keep in mind future career changes and any babies that might be on the way. It's not a bad idea to build a small buffer into your maximum - don't lose out on your dream property because of a bid that's $1,000 over your "limit".  Keep an eye on the <a href="/expert-insights/buying/what-does-a-home-really-cost-for-a-first-time-buyer">hidden costs you might not have factored in</a> - there's more to purchase costs than just the deposit.  </li>
<li>
Identify your potential home Once you've done your research, figured out where you can afford, driven around lots of suburbs and probably adjusted your expectations a little, you've come across a home you really love at an open for inspection. Chat to the real estate agent and keep in contact. If there isn't a price guide listed on the advertising material, ask them for an indication of what the vendor wants. Go to subsequent open for inspections and arrange some private inspections too (more on that later). 
</li>
<li>
Secure your finance. Unfortunately, there is occasionally a discrepancy between what you think you can afford and what your lender thinks you can afford, after they've had a look at the property in question, your income and your credit history. Before putting in a bid at auction, you'll need to know how you're going to pay for your new house. No finance, no purchase, and when you place the winning bid, you'll need to put down a deposit - there's no backing out, unless there's a built in cooling off period (which is best avoided and may require you forfeiting part of your deposit). Decide on <a href="/expert-insights/buying/getting-your-first-loan-heres-what-you-need-to-know">the kind of loan</a> you want and<a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval"> get pre-approval for your loan</a> from the bank. While this isn't a guarantee that you'll get a loan, it's about as close as you can get. And while you're at the bank, get a cheque book. You'll need one to put down your deposit. 
</li>
<li>
Order an inspection. About a week out from the auction day, you should order a building inspection for the house. Just because it has four walls doesn't mean it's stable - there could be issues with the roofing, asbestos or structural damage. An independent <a href="/expert-insights/investing/the-importance-of-building-inspections-in-property-transactions">building inspector should be able to spot the things you can't</a>, and hopefully can save you from ending up with a dud.  Make sure you <a href="/news/how-to-choose-a-building-and-pest-inspector">choose a building inspector who is independent and reputable</a>. While you're at it, ordering a pest inspection can also be worthwhile - pest inspectors might spot termite damage that will cost you a lot of money down the track. 
</li>
<li>
Have a lawyer or conveyancer look over your contract. Seeing as this will probably be the first time you've seen a property contract, it's best to bring in the experts (actually, we recommend always getting a lawyer to look over your contract.) 
</li>
<li>Figure out your strategy Now you <a href="/news/understanding-auction-talk-patrick-bright">know your auction lingo</a>, it's time to prepare yourself on how and when you will bid. Part of this may be putting in an offer before the day. However, when you get to the auction, should you dive in with the early slam-dunk all-cards-on-the-table bid, or wait until close to the bidding has stopped? Much of this will become clear to you as you watch other bidders in action in step one. However, it'll make you feel that little bit better if you know when you'll be likely to bid and what the plan is if there are quite a few other keen bidders. If you're not entirely confident, you <a href="/expert-insights/investing/engaging-a-buyers-agent-will-level-the-playing-field">may decide to hire a buyer's agent</a> to act on your behalf, some of whom employ a number of strategic tactics they have learned over years of bidding at auction, such as bidding in unusual increments.</li>
</ol>
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jrichardson-uRX5hFdKfN

Buying your first property at auction: A step by step guide

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One of the biggest hurdles for many prospective first time home buyers and first time investors is affording the initial deposit.
While those who already own a home or asset have the ability to either sell or use any equity they have built up, novice investors will be required to stump up a sum of money to get their foot onto the property ladder.
However, short of "buying a cup of coffee less a week" (which is real 'advice' doled out to first timers on a regular basis), what are the actual savings tips that will let you get ahead?
Here are some collected tips on how to boost your savings, push up that deposit and see yourself purchasing a property sooner than expected. There are two basic areas to improve here – earning more or spending less.
Earn
<ul>
<li>Sell unwanted goods</li>
</ul>
If you're an average person in your 20s or 30s you will likely have accumulated a lot of unwanted "stuff". That is, clothes that you don't wear (often with tags attached for the shopaholics), outdated mobile phones, laptops and other electronics, and gifts you never wanted or never used. A bit of time and effort online can quickly turn these into extra space in your current home and cash in your pocket. Websites such as eBay and Gumtree require you doing very little other than uploading a description and some decent photographs. Also try Twitter and Facebook shout-outs.
<ul>
<li>Use your skills wisely</li>
</ul>
While you may not be able to take on that second job, you can still use your skills for some cash. Whether it's writing a freelance article, or creating art to sell online, there are some ways to have sideline projects. Former Property Observer journalist Nicola Trotman has <a href="https://luluscandles.com/" target="_blank">Lulu's Candles</a> - an online vegan soy candle shop - and a number of staff write freelance articles.
You may also be able to fix computer problems, or even teach people (many Community Colleges are looking for people to teach short courses and the demand for private tutors rarely eases off) or perhaps you can bake cakes to sell them to friends or at stalls. Online sites such as etsy.com can be really helpful, as can different markets that often allow you to set up a stall for a small fee. Remember to use flyers in your local area to advertise your services.
<ul>
<li>Do odd jobs</li>
</ul>
While it can be tedious to go from person to person to find out if there's anyone who might be willing to part with a bit of money in return for someone to do the run to the shops, there's now an online solution. The website <a href="https://oneshift.com.au/" target="_blank">One Shift</a> is getting even more popular as a way to get quick short-term employment for a little bit of extra cash.
<ul>
<li>Rent out your space</li>
</ul>
If you have a spare room (or garage space), or you could bring another tenant into your rental to share costs, then either of these can be a practical temporary option.
Tips on how you can save money by spending less are on the next page.
<hr class="system-pagebreak">
Spend less 
<ul>
<li>Home brand/basic brand everything</li>
</ul>
From medicine to baked beans, and from iPods to clothes, there's a generic brand available. If you're in savings mode then you should take full advantage of these cheaper alternatives. While they may not be quite as nice, it's rare that the extra cost actually translates into the product truly being that much better. Make sure you weigh the pros and cons up first. 
<ul>
<li>Keep a coin jar </li>
</ul>
Take out your cash from the ATM (and avoid those pesky $2+ charges at 'other' ATMs) for the week and spend no more than you have. Try to leave the credit and EFTPOS cards at home when possible and limit online buying by having a separate card and separate account where you can limit the money that you put in. Keep access to funds at a distance and provide obstacles, and see yourself spend less.
<ul>
<li>Cancel your unnecessary costs</li>
</ul>
Do you really use that gym subscription? Be honest with yourself about what services you are using and what you can cancel. If having a gym membership is important to you, then keep it, but if you're going once a fortnight then question the cost. Also consider your memberships to organisations, costly subscriptions to titles you may not read and other money drainers. See if there's a way you can minimise these costs as well - are you on any plans that you can bring down a level (or increase, if you're going over every month)? 
<ul>
<li>Get gifts you need</li>
</ul>
If your birthday is coming up, ask for things you'll actually use. Maybe get them to pay for your gym subscription or thr sunglasses that you've needed instead.
<ul>
<li>Shop around</li>
</ul>
You likely hear this one all the time, but if you can give your shipping trip a bit of extra time it'll be worth it. Most shopping centres have a Woolworths and a Coles, so pick up both brochures and look for deals. Keep an eye out for reduced food, and when it gets reduced through the day. Remember to consider secondhand goods and books as well - just as we mentioned selling your secondhand items above, you can also pick up the things you need far more cheaply on these sites.
<ul>
<li>Rent or borrow, don't buy</li>
</ul>
Your library, DVD rental (or iTunes rental) and your acquaintances can be used to good effect when saving money. Instead of buying that DVD you'll watch once for $25, go and pick up a $5 rental. Sign up to your library for books, CDs and DVDs (they also have magazine sections and regularly host free events). And ask friends when you need a bigger item. Perhaps you need a steam cleaner or you find yourself needing an unusual kitchen appliance - ask around and see if anyone can lend you one for the task. Consider sharing items such as books and magazines among friends as well - circulating these luxury items can save you a significant amount in the long term.
<ul>
<li>Use less or use what you buy completely</li>
</ul>
It sounds hard, but it's often just a case of looking a little closer at how you go about your day. If you have food leftovers, see what you can feed to your animals (check for allergens and unhealthy items first - such as avocado, dairy, raisins and more being dangerous for dogs). You might be able to turn some of the food into "other dishes", such as turning a curry one night running into a pie the second night, or turning spaghetti bolognaise sauce into a lasagna. However, these tips do not just apply to food - have a look at your other costs too. Consider using a two-in-one shampoo/conditioner, or toothpaste/mouthwash (a new product we've seen) that can often cost substantially less than buying and using both.
Some further tips and suggestions are on the next page. Please click below. 
<hr class="system-pagebreak">
Extra suggestions
<ul>
<li>Make the most of rewards points</li>
</ul>
Keep an eye on rewards cards and free store cards that can get you access to deals and offers. Ensure there aren't any excess costs to sign up and be a 'member' that may outweigh the benefits. Ensure you only use coupons when you were already intending to buy the item (or when it turns out to be the more economical alternative). There are a number of decent loyalty cards that can provide some significant benefits.
<ul>
<li>Track your spending using an app</li>
</ul>
Keeping an eye on what you're spending and where can be half the struggle. Luckily, if you're a smart phone user, then you can just download an app that will help you keep an eye on it. Consider MoneySmart if you're unsure where to start. For non-smartphone users, a simple written diary of costs and every time you purchase an item will do just as well - as will an Excel spreadsheet that you can update.
<ul>
<li>Check if you're using the best savings account</li>
</ul>
You may be on an interest rate that's low, or an account that charges excess fees when you take money out. Ensure you know the fine print for your accounts, and always check with your banking institution to see if there's a product that may better fit your personal situation. Many have multiple savings-style accounts.
<ul>
<li>Look towards DIY first when you need to fix something</li>
</ul>
You'd be surprised how many YouTube videos and online tutorials there are explaining how to fix some of the most niche items. We've heard of people using online tutorials to build fireplaces, fix car windows and more. While you want to make sure it's not another example of a "false economy" and that you will actually save money (and won't put yourself in danger), it's always worth seeing if you can reduce labour charges by doing it yourself.
<ul>
<li>Check your tax</li>
</ul>
Are you claiming all the exemptions you are entitled to? Sometimes not using an accountant is truly a false economy, and you really want to make sure you maximise your tax return. See the <a href="https://www.ato.gov.au/Individuals/Income-and-deductions/Deductions-you-can-claim/" target="_blank">claimable deductions by profession</a> to ensure you have put everything on the list. Keep your receipts in order or recorded as you go.
<ul>
<li>Don't miss out on special offers</li>
</ul>
If you are looking to buy something online, the first thing to do is type the name of the shop or item into Google and search for 'coupons', 'promo codes' and 'offers' to see if anything comes up. Once or twice out of 10 you might net yourself a 10% decrease, an added bonus or even a free ticket. You might also want to sign up for free online newsletters (get yourself a 'dummy' email to send these to) for comedy clubs and different events and you'll often see significant reductions being offered to online members last minute. Just be wary that you don't buy anything you weren't initially intending to due to seeing the advertisement.
<ul>
<li>Don't forget to argue</li>
</ul>
If you have an unfair fine - put in a call (and take photos for evidence). They can only say no. And if you have done the wrong thing, pay it on time before it gets out of hand.
YOU MIGHT ALSO WANT TO READ <a href="/expert-insights/finance/getting-a-bigger-home-loan-seven-tips-to-boost-your-borrowing-power">Seven tips to boosting your borrowing power</a>
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Mastering your deposit: Tips to boost your savings

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Hi Margaret,
I am buying my first home at 30, having rented before this with a friend.
I have got about $50,000 saved as a deposit and some other money set aside for costs, and have been given the option to either buy on my own or with the friend I’m renting with.
What are the benefits of buying with him and should I be considering it?
Thanks,
G.
Margaret's answer on the next page. Please click below.
<hr class="system-pagebreak">
Dear G,
I am often asked by many investors whether or not they should be buying property with a friend, a sibling or with a group of other investors.  It’s a common thing for people to buy property with a spouse, and if you think about that, you are already taking the good with the bad when it comes to a life partner. Sharing real estate is only another facet in the complex fabric of life.
When it comes to a friend, you could be tossing up buying together for a number of reasons.  It could be that you can’t afford to go alone, or can’t save enough of a deposit.  Another reason may be that you feel more confident buying with someone else than you would alone.  Whatever the reason, it might seem like a good idea at the time, but like a lot of good ideas, it can all come apart later on.
If you are tossing up whether or not to buy with someone who is not your spouse or life partner, it can help if you go in with your eyes wide open. 
Here are just a few of the things you must know:
<ol>
<li>
You can trust yourself, but.... You probably know that you can afford to meet the repayments, and that in times of stress you have enough money to be able to see through until the good times.  You know that your job is secure, and so you will always have a steady income flow.  But can you be as sure about the person you are planning to buy with? It is easier when it is your spouse – when you get married or choose to live together it is always for better or worse.  And it may seem easy when we are talking about a brother or a sister, a mum or dad or son or daughter (although often that is not the case). However, when it comes to friends you can never be sure how much of what they are telling you is actually true.  It’s amazing how quickly someone’s circumstances can change, and the last thing you need is to be left holding all of the commitments on a property whose title you only half own.  
</li>
<li>
Difficult financing arrangements Where all parties are bringing in the same amount of money as a cash deposit, and a joint loan, secured by only the property in question (the one being purchased) is accessed, this may remain relatively simple. All parties pay their required portion of the debt, receive their share of the income and complete separate tax returns claiming their own tax deductions. Where differing amounts are provided by each person, or where the other party may be borrowing against the equity they have in another property and bringing in their deposit via another loan from elsewhere, things get tricky. All bills will then need to be divided up according to the original allocation and the tile will need to reflect the different proportions of ownership. The risk increases too, if one party is using a loan for their deposit – it creates a higher risk of that person not being able to manage their repayments. It is useful to note here also that, when you sign mortgage documents for a debt where another party is involved, you become jointly, and severally, responsible for the repayment of that debt.  If the other party takes off to Rio, you cannot call your bank and offer to repay only your half, or to keep repayments on only your half going.  You become responsible for the entire debt, while at law you still only own half (or your share) of the property. 
</li>
<li>
What’s yours is mine – including all your debt! Since you become jointly and severally responsible for any loan you take out with other people, the commitment for the entire loan, rather than half of it, may be considered when establishing your serviceability with a bank.  So, you may have a loan of $300,000 with two other people, and your share is $100,000, but a bank may consider that you have a commitment to the entire $300,000. Conversely that same lender will only consider the income on your third of the property, since you only own a one third share. This may limit your ability to borrow additional funds to undertake more borrowing to buy investments in your name only, and could hamper your ultimate progress. 
</li>
<li>
Using the growing equity Imagine if the equity in your shared property grew so quickly that you were ready to buy again soon – but you decided that you did not want to buy with that person again. Unless you are prepared to liquidate, lose a fair portion in capital gains tax and start again, unfortunately you may have difficulty using this equity to invest further. 
</li>
<li>
Time to get out – but do you both agree? Your life suddenly changes.  You meet the perfect partner and want to move to the country, you are offered a divine job overseas for 20 years, or you simply want to cash out and take a Harley around route 66.  If your timing does not coincide exactly with that of your fellow property owner, you may not be able to take advantage of this great new opportunity because you cannot realise your assets.  Unless you are both ready to make a major change, owning property with others can often prevent you from taking on a great opportunity which may come along out of the blue. 
</li>
<li>
When you are doing all the work. Owning a property is not without its hard work.  If you suddenly find yourself doing all the work, it may seem like an unfair thing that you are only accessing your title’s share of any growing equity.  You may believe you are entitled to a greater share, but at law, this is not possible.  You cannot really know the capacity of another person to do their bit until after the deed is done, and by then it may be too late.
</li>
</ol>
In summary:
If there is absolutely no other way for you to get into the market than to do it with another, non spouse person, then at least sign a partnership agreement at the commencement of the deal in which you cover every possible eventuality and agree to a procedure to manage it. Going in with your eyes open may prevent a major disaster in the long-term. So will not investing with others at all!
Regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Should I buy a property with a friend? Six things to consider first: Ask Margaret

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Investment buying has ramped up in Queensland, according to estate agent John McGrath.
He says the typical house yield in Brisbane was 4.5% compared to Sydney’s 3.7%.
"Apartment yields are even more impressive at 5.3% compared to 4.5% in Sydney," he blogged on Switzer.
Noting Brisbane property values haven’t moved anywhere near the rate of Sydney and Melbourne in recent times, McGrath indicated Sydney’s current median house price of $745,000 and Melbourne’s $590,000 "makes Brisbane look seriously cheap at $475,000." 
"When you put affordable property values next to high yields and perfect timing in the cycle, that’s an ideal time to buy and investors are noticing," he said.
His comments came as mortgage broker AFG reported investment activity in Queensland had jumped from 33.5% in January to 38.7% in June. 
"A lot of that activity is in Brisbane but key regional centres are also attracting attention.  "For example, our office in Townsville estimates that 50% of investment sales are going to North Queenslanders and up to 40% are going to Sydneysiders."
McGrath said investors were attracted to newer houses around $350,000 to $450,000 and small sites with development potential.
It was May 2012 when McGrath Estate Agents opened in Brisbane. With the February 2014 opening at Townsville, it now has its first regional office in North Queensland and ninth in the Sunshine State.  
The coastal city of <a href="/news">Townsville</a> is about 1,300 kilometres north of Brisbane, close to the Great Barrier Reef. The Queensland government forecasts tipping the population to reach 300,000 by 2030, compared with 185,000 in 2012.
The McGrath column was written before the latest REIQ data that showed the vacancy rate jumped from March 2014 at 4.7% to June 2014 at 5.4%.
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Sydney investors hit Townsville: John McGrath

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Tenants and landlords are equally responsible for gas and appliances in rental properties, according to First National Real Estate’s Amanda Kohler.
Kohler warns investors not to be lulled into a false sense of security even as Winter ends, and warns that gas ovens, cooktops and hot water systems need a close watch to avoid potential injury and property damage.
State legislation varies, however safety and good repair should be ensured by the landlord and property manager.
“Managing agents should make sure they arrange periodic appliance checks, using qualified inspectors, in all managed rental properties. They should also educate their landlords regarding their legal obligations,” she said.   “Equally, tenants are obliged to use appliances in accordance with instructions and report any faults or suspected faults to their landlord or managing agent immediately.”
A qualified technician should ideally service the appliances once every second year, as faults can produce carbon monoxide – which can be lethal.
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Investor alert: Double check your gas and appliances this weekend

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The Block Glasshouse marketing has begun with Buxton's inviting private clients to an early September preview.
The High Street apartment is being offered <a href="/expert-insights/building/karl-gillon-takes-on-his-third-televised-the-block-sales-campaign">through veteran The Block agent Karl Gillon</a>.
<img src="/images/2014/08/15/block%20aug%2015%20one.jpg" alt="">
No public marketing has commenced for the auctions that appear scheduled for October auction.
Nor have $2 million plus price hopes been confirmed.
Buxton estate agent Karl Gillon is set to take on his third sales televised Block auction marketing campaign in the latest The Block Glasshouse series.
He will be marketing the sale of contestants Maxine and Karstan’s Prahan apartment at 3/121-127 High Street.
He's previously auctioned Brad and Dale’s property on last year’s Fans Vs Faves series in the O'Grady Street, Albert Park warehouse.
<a href="/news/at-506-000-above-reserve-brad-and-laras-1-62-million-south-melbourne-sale-secures-the-block-2012-prize-result">He also sold contestants Brad and Lara’s property in 2012</a>, achieving a winning price of $1.62 million in the South Melbourne terraces series.
In recent series contestants have taken to include their estate agent in the design planning stages to ensure the apartment matches the locality demographics.
Estate agent Anton Wongtrakun of Dingle Partners is also returning. Last year he handled twins Alisa and Lysandra’s Albert Park sale.
This time it is Chris and Jenna’s apartment at number 2.
The agent newbies are Matt White of Ray White Port Phillip selling Michael and Carlene’s property at number 3 and Andrew McCann of Jellis Craig Bennison Mackinnon with Simon and Shannon’s apartment at number 4.
The AFL premiership player Darren Jolly and his wife Deanne have gone with Biggin &amp; Scott Richmond.
The High Street Block auctions are likely to take place in October.
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The Block Glasshouse marketing begins in Prahran

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Offering VIP access for those registering in their “first time offered” marketing, North Sydney’s Lucent offers 211 apartments spanning 17 levels.
The $200 million <a href="https://lucentnorthsydney.com.au/" target="_blank">Lucent</a> development from Greenland Holding Group, marketed by CBRE, includes one, two and three bedroom apartments are available from $528,000, many of which have parking.
It has city and harbour views and has interiors from architectural firm Turner Studio.
Facilities include a rooftop infinity pool, a rooftop garden and an outdoor barbecue area. It also has a fully equipped gym and deck.
In April, Greenland <a href="/expert-insights/buying/greenland-centre-launches-second-sales-stage">launched the second sales stage of their Greenland Centre development</a> after all 300 apartments offered in the first sales release have been sold.
It was the <a href="/news/nsw/chinese-breathing-competitive-life-into-sydney-high-rise-scene">Chinese company's first development in Australia</a>, with Lucent representing their second Sydney offering.
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