<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Joel Robinson

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

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

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

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

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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The remaining Crazy Clark’s and Sam’s Warehouse retail stores are expected to close by the end of August, after receivers KordaMentha were unable to find a buyer for the troubled discount retail chain.
As of next Sunday, 17 August, there will be just 15 outlets still operating in the Retail Adventures chain, the parent company of which, DSG Holdings, was <a href="https://www.smartcompany.com.au/growth/42635-jan-cameron-s-retail-adventures-goes-under-for-a-third-time" target="_blank">placed in administration at the start of July</a>.
But receiver Rohul Goyal said in a statement late last week “there has been no buyer for the group or any sizeable part of the group” and the last of the chain’s stores will close on 31 August.
While a spokesperson for KordaMentha told SmartCompany this morning it is possible someone may purchase one or a few of the remaining outlets, 90% of the chain’s stores have already been closed or are in the process of closing.
The latest round of store closures, <a href="https://www.smartcompany.com.au/finance/43189-another-round-of-store-closures-for-retail-adventures-optus-says-data-retention-will-cost-200-million-midday-roundup" target="_blank">announced on Thursday</a>, brings the total number of stores closures to 128 and the total number of employees affected to nearly 1,800.
KordaMentha has also closed the DSG Holdings distribution centre at the Port of Brisbane, where 30 people worked.
The receivers <a href="https://www.smartcompany.com.au/growth/43099-retail-adventures-sale-extremely-unlikely-say-receivers-as-another-22-stores-close" target="_blank">previously said</a> they hope to pay employee entitlements, amounting to $10 million, by the end of September.
While Retail Adventures has survived two previous administrations, with former BRW Rich Lister Jan Cameron <a href="https://www.smartcompany.com.au/growth/economy/30298-jan-cameron-buys-back-retail-adventures-for--58-9-million-but-may-face-legal-battle-with-creditors" target="_blank">buying the company out of administration on two occasions</a>, it appears the chain, which relied on a high-volume, low-price strategy, has come to the end of its line.
Brian Walker, chief executive of the Retail Doctor Group, told SmartCompany the result isn’t surprising, as general discount retailers such as Crazy Clark’s and Sam’s Warehouse rely on a “fragile model” of “high volume and low overheads, in good locations”.
While Walker says these chains may have had “some good performing stores with good numbers”, strong results in a few locations are often not enough to carry a whole chain.
“They have such thin margins to start with, and faced with rising costs, it is very hard to differentiate themselves against the big players with bigger advertising muscle,” says Walker.
Walker says the likes of Target and Big W have made “inroads” in the discount market through their pricing and merchandising strategies, in much the same way the supermarket sector is now dominated by Coles and Woolworths.
“And then we have the whole world of online,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Last of Jan Cameron’s Retail Adventures stores to close by end of August

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The Melbourne property market stumbled over its first hurdle at the weekend, as a rise in auction volumes saw the city post a relatively poor clearance rate of 63.9%.
The result pulled down the national average to 65.9%, after it <a href="https://www.smartcompany.com.au/finance/investment/43101-national-clearance-rate-lifts-as-spring-market-expected-to-still-bloom">lifted last week</a> to 69.7%.
Melbourne sold only 397 of the 738 properties that went under the hammer, according to RP Data.
RP Data Victorian housing market specialist Robert Larocca told SmartCompany the weekend was the first real test for Melbourne, with a rise in auction numbers in the all-important inner-east area.
“The first weekend with better volumes has created a cause for concern,” Larocca says.
Larocca says the announcement of unemployment figures last week detracted from consumer confidence in Victoria, which has lately been “middle of the road” in the state.
But he notes this is potentially good news for buyers, as vendors may lower their price expectations.
In contrast, Sydney scored a 75.5% clearance on its 530 auctions, with 332 properties changing hands across the city.
“Sydney is proving a consistent and strong market,” Larocca says. “It really is building a solid base for spring.”
Larocca says Sydney will be the market to watch from an auction perspective as spring approaches, if stock volumes remain as high as anticipated.
“It could be a spring like Sydney has never seen before,” he says.
Around the country, the smaller auction markets were mixed. Adelaide notched a 75.0% clearance on 55 auctions, while Brisbane lagged again with a 35.3% clearance on 121 properties.
New listing activity is up 2.5% on a seasonally adjusted month-on-month change, according to RP Data.
Larocca says this is to be expected at this time of year as the market heads into the full bloom for spring.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

A tale of two auction cities: Melbourne misses the mark as Sydney soars into spring

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Arden Group has chosen Hutchinson Builders to build Jade, their $200 million development in Queensland’s Albion.
<a href="/expert-insights/buying/arden-group-launches-200-million-albion-development">Jade</a>, located on Burdett Street, is expected to be completed by 2015, and includes one, two and three bedroom apartments from 60 square metres to 160 square metres, from $392,000 to $990,000.
Arden Group director Steven Walsh said that the commencement of construction indicates the beginning of the urban renewal of the inner north suburb precinct that will grow in lifestyle and residential attractions.
In total there will be 350 apartments across the Sage, Fern, Jasmine and Lotus buildings.
“We are delighted to have Hutchinson Builders on board and are looking forward to working with them to deliver the high quality and affordable apartment product in Albion,” Walsh said.
It includes a 22 metre lap-pool, three park areas, a spa and a gym, and spans a 1.4 hectare site.
Each apartment has at least one car parking space, some have two, and 50 or more visitor parking spaces will be included.
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jduke-EHk3XBmHkn

Builder chosen for $200 million Albion, Brisbane development

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Mooloolaba's Pink House sold at weekend auction for $3.8 million, when offered for the first time in 100 years.
Set on Queensland's Sunshine Coast, the Pink House is among the last freestanding homes remaining in the locality.
Sunshine Coast Next Property agents<a href="https://www.realestate.com.au/property-house-qld-mooloolaba-117375011" target="_blank"> Loren Wimhurst and Karen Jones marketed the property</a> as "one of the last development opportunities on the Mooloolah River never before offered to the market".
The former fishing shack on the Mooloolah River, north of Brisbane, has a glamourous history given its association with old world Hollywood stars.
Cary Grant, Jean Harlow and Errol Flynn stayed at the holiday home of the Eager car dealership family. 
Fred Eager was the son of the cigar-smoking businessman from Ohio, E.G. Eager who was responsible for the the introduction of the Overland car in 1911 to Australia. The family were later the representatives of General Motors Holden.
Fred Eagar died in 1949 at his home, Craigston on Wickham Terrace, Brisbane, aged 62. 
His skill as a big game fisherman and yachtsman was undisputed. He held the Queensland shark record with a 1941 catch of a white shark weighing 1324 lbs. 
Fred Eager actually had two holiday houses on the Mooloolah River, Tangalooma and four doors away, Terrawina. Property Observer believes it was Tangalooma which was the weekend offering.
Among his fleet of water-craft was the luxury yacht, Tangalooma which was commandeered by the Navy in the second world war. 
Part-owner Jillian Chalmers told the Weekend Australian it was sad to sell the home which had been passed down to friends and family over the generations. It was also co-owned by the Hooper and Knobel family. 
"Originally built as a fishing shack, legendary stories still circulate in reference to the size of the fish and the catch, to this day," the marketing said.
"Many similar shacks surrounded this one, and the Pink House is the last one standing." 
The 1,012 square metre property at 63 River Esplanade boasts 37 metres of Mooloolah River frontage within a 350 metre walk to the Mooloolaba Surf Club.
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jchancellor-FAypfDUnLy

Fred Eager's Pink House, Mooloolaba sells for $3.8 million

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Last night, Australia was treated to the first round of bathroom reveals on The Block Glasshouse.
In one of the hardest tasks of the series (as host Scott Cam likes to remind us), each team was given one week to create the main bathroom of their office conversion apartment.
The week saw yet more delays, tradies in tears, and a particularly unsavory furniture upcycling challenge featuring a taxidermied deer head (the furniture world's Martin Margielas, our blockheads are not).
But it seems the hard work was worth it in the end, with the judges marveling at the bathrooms this season's  contestants managed to deliver.
Despite being cursed with a severed, taxidermied, hollowed out and illuminated deer head courtesy of Shannon and Simon, Chris and Jenna managed to wash the negativity away with their bathroom offering (pictured above, courtesy of Channel 9).
The Campbelltown couple, characterised as the "newbies" of The Block, earned a perfect score of 30 from judges Neale Whitaker (soon to join Vogue Living as editor-in-chief), Selling Houses Australia's Shaynna Blaze and interior designer Darren Palmer.
Some major tiling miscalculations saw the couple bring in a two metre wide mirror to cover up their error - a blessing in disguise, creating the illusion of an expansive space.
Continuing the theme set with the exposed beams in their guest bedroom, the team ran a metal pole (with a pipe tucked inside) across the entire length of their bathroom, which suspended their shower head (pictured below).
<img src="/images/2014/08/11/block2.jpg" alt="">
Picture courtesy of Channel 9. The second highest score of the night went to Darren and Deanne, whose bathroom was particularly popular with Darren (judge, not Jolly), pictured below.
<img src="/images/2014/08/11/blockd.jpg" alt="">
Picture courtesy of Channel 9.
Shaynna Blaze noted that their bathroom had a "provincial feel" translated to an urban setting, while Neale Whittaker said the bathroom held its own against some of the best bathrooms he's seen in his career as a magazine editor. The couple were awarded 28 points out of 30.
Their bathroom featured a medley of materials - with a plain plastered wall, a marble vanity, patterned floor tiles, a paneled wall and a wall covered with large white tiles. Maxine and Karstan redeemed themselves after failing to complete a room last week, scoring 26 points for their glossy grey bathroom, pictured below.
<img src="/images/2014/08/11/blockmax.jpg" alt="">
Picture courtesy of Channel 9.
Theirs was a particularly big space and Shaynna appreciated their extensive storage, which allowed access to the bedroom linen closet through the wall. However, the couple lost points for the lack of underfloor heating, which was seen in many of the other bathrooms.
Queensland couple Michael and Carlene coped with their pokey bathroom by building a raised platform with an in-built bathtub and open shower three steps above the floor level, pictured below. The judges all thought the couple's herringbone tile feature wall was worth the trouble (though their tiler who was pulling all-nighters alone for the majority of the week may not agree).
<img src="/images/2014/08/11/block%20michael.jpg" alt="">
Picture courtesy of Channel 9.
The raised shower was not so popular, with Shaynna concerned that wet, soapy steps would be unsafe for buyers and their children. Michael maintains that the tiles were fairly porous, and wouldn't be slippery. The couple was awarded 24 points for their effort.
Last week's winners took a tumble in the judges eyes - Simon and Shannon received the lowest score of the week, with 23 points. While their timber vanities were appreciated, there were a number of awkward points in the bathroom, including a hidden-but-not-so-hidden boxed-out cistern which reminded Shaynna of a public toilet (pictured below).
<img src="/images/2014/08/11/blockss2.jpg" alt="">
Picture courtesy of Channel 9.
The judges also noticed the absence of a bath in the main bathroom, noting that it felt more like an en suite (which is was, thanks to the door adjoining the bathroom to the guest bedroom, an idea the brothers pinched from Chris and Jenna).
This week, the teams will tackle two rooms - the second bedroom and study.
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jrichardson-uRX5hFdKfN

Block Glasshouse newbies reborn with perfect score

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A guarantor for your property is someone who signs on your behalf to help you get into the property market.
Using a guarantor can mean that you can purchase without saving a deposit and you may even be able to borrow the full purchase price and costs, although some lenders do require you to have some of your own equity to fuel into the purchase.
Essentially, they are a safety net for the lender, as they are expected to pay your loan if you default and if they do not then they will take their assets that may have been used as security – for instance, their home, which is usually the asset used. A mortgage is taken over their property by the lender.
The Commonwealth Bank explains that guarantors assist by helping you get into the market with a broader choice of home loan options. This may allow you to use more funds than you’d be eligible for without assistance and allows you to leverage off of their equity to buy your own property and reduces the likelihood of requiring LMI.
A guarantor’s ability to borrow is affected once they are standing for you, however the amount of the guarantee can vary from the full amount of the loan to just 20%. Discuss this with your broker, but often you can have the guarantee in such a way that the guarantor is only responsible for the % selected, in this case just 20%.
Mortgage Choice explains that a guarantor is involved in the loan until the guarantee is released. This may be done by building up equity in the property, and sometimes by paying some fees as well.
Who can be your guarantor?
Usually a guarantor is a parent, and many places require them to be an immediate family member. Some lenders extend this to grandparents, however there are a few lenders who allow non-family members, including ex-spouses, to stand in as guarantor. That individual will also need a healthy amount of equity in the property to be acceptable to the lender.
At St George, they call this a 'Family Pledge'.
They provide this example:
John is planning to purchase a $300,000 property with a $15,000 deposit (LVR of 95%), which means Lenders Mortgage Insurance (LMI) would be payable.
If John’s parents were existing St.George Bank Home Loan customers or had a freehold house and agreed to provide a family pledge guarantee of $56,500 as an additional security, the LVR would reduce to 80%.
This would result in the LMI premium requirement being waived, saving John up to $5,800.
Things to remember
Usually, a guarantor cannot help with a refinance and often just one guarantee is allowed per person. It is usually kept solely to residential property as well.
If you don't think you can repay the loan, or your concerned with how you will manage this, be open with the guarantor. They are also liable and you'd be wise to be transparent with them about your repayment abilities.
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What is a “guarantor”? Investment terms explained

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Finance commitments are on the rise for those buying new homes, and it appears that first home buyers are making themselves seen again with the second consecutive rise now being recorded, according to Australian Bureau of Statistics data.
Master Builders Australia chief economist Peter Jones pointed to the 2.2% seasonally adjusted rise as something that will “inspire continuing confidence” in residential building.
“The latest housing finance data for June also means that the rate of growth is up 10% seasonally adjusted through the year,” said Jones.
“First home buyer commitments rose for the second consecutive month, a positive sign for the industry that may herald a continuing return of first home buyers to the market,” he said.
Meanwhile, Housing Industry Association economist Diwa Hopkins said that this follows significant declines in the December and March quarters, but that the June 2014 quarter is now recording an uptick – at a modest 1% pace.
“Over the full 2013/14 fiscal year new home lending increased by 12%. With lending rates remaining very low, turnover in the established home market has risen, as have home prices. The residential construction industry has responded strongly to these signals,” she said.
“In terms of new home lending being a leading indicator of residential building, today’s housing finance figures suggest home building activity should continue its strong recovery as we progress through the second half of the year.”
However, CommSec chief economist Craig James pointed to loans for new home building hitting a four year high, with first time buyers lifting to 13.2%, and also noted that the number of owner occupier commitments generally was up by 0.2% in June, but the value increased by 1.8%. He noted that this was the biggest rise in seven months.
First home buyers’ loan commitments are still below the long-term average of 20%. Across Australia, the average home loan was $327,000, or 7.4% up on one year prior.
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Loans to new homes on a high, first home buyers re-emerging

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The former Bank of Melbourne boss David Airey secured Melbourne's top weekend auction result when his renovated four bedroom South Yarra home sold for $3.8 million.
David Airey and his wife Sally acquired the two-storey home (pictured above) in 2011 for $1.83 million before extensive renovations.
The 710 square metre property had pre-auction expectations of between $3.3 and $3.5 million through Jeremy Fox and Sarah Sharp of RT Edgar Toorak when<a href="/news/former-bank-of-melbourne-chief-lists-in-south-yarra"> Property Observer wrote on </a><a href="/news/former-bank-of-melbourne-chief-lists-in-south-yarra">the</a><a href="/news/former-bank-of-melbourne-chief-lists-in-south-yarra"> listing last month</a>.
The former Templestowe home (pictured below) <a href="/news/architect-phillip-mannerheims-former-templestowe-house-listed">of Victorian architect, Phillip Mannerheim</a> fetched $3.35 million having been listed with $2.4 million hopes. It is not entirely original as the current owners have extended and renovated the original residence.
<img src="/images/2014/07/30/templestowe_0000_1.jpg.jpg" alt="Architect Phillip Mannerheim's former Templestowe house listed">
They are the third owners of the home purchased 11 years ago for $870,000. 
They doubled the internal size, keeping in style with Phillip’s original vision for <a href="https://raywhitemanningham.com.au/vic/templestowe/1163486/" target="_blank">4 Winifred Court, Templestowe</a>.
The four bedroom, five bathroom house on 3,986 square metres was sold by Carmen Stenta at Ray White Manningham.
Melbourne notched up a steady clearance rate of 72% on the weekend the same last weekend but slightly lower of the 74% on the same weekend last year.
There were 560 auctions reported to the REIV, with 402 selling and 158 being passed in, 73 of those on a vendor bid.
"So far this year, more than $10.8 billion worth of homes was sold at auction, which surpasses the $10 billion value achieved over the same period in 2010," Enzo Raimondo, the REIV chief said. 
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South Yarra then Templestowe top weekend Melbourne auctions

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Sydney's most expensive property sold at weekend auction was a three-bedroom Beauty Point home with Middle Harbour views.
The house at <a href="https://www.domain.com.au/property/for-sale/house/nsw/mosman/?adid=2011307063" target="_blank">12 Euryalus Street, Mosman</a> was sold by Simeon Manners Property for $3.23 million. 
"It was just above the reserve, though the reserve was ambitious," agent Michael Mahon told Fairfax Media.
However Property Observer notes it last sold at $3.1 million in June 2010, so not even 1% price growth during the past four years.
There were three bidders with it knocked down to a Mosman family.
RP Data indicated its pre-auction price guidance was $3 million to $3.5 million.
The <a href="https://www.onthehouse.com.au/reports/property_profile/10366737/12_Euryalus_Street_MOSMAN_NSW_2088/" target="_blank">onthehouse estimate for the property</a> was $3,466,400 to $3,908,400 in June and at $3,340,900 to $3,766,900 in August.
The bungalow property comes with approval to rebuild a three level family home on the elevated, north facing 773 square metre block.
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Mosman price shocker tops Sydney's weekend auctions

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Multi-storey residential towers will be built in many parts of Sydney as numerous areas are being rezoned to allow for higher density development.
But development proposals are likely to face community opposition as residents resist changes they expect to increase traffic congestion and restrict access to amenities such as schools.
Three new areas along the future North West Rail Link in Sydney’s Hills district were announced by NSW Minister for Planning Pru Goward in August as Urban Activation Precincts.
These precincts will be rezoned to help NSW state government deliver on its policy to “substantially increase the supply of housing and employment, and improve housing choice and affordability”.
One of NSW government’s aims is to boost the supply of housing in areas with good access to infrastructure, particularly transport, to accommodate Sydney’s expanding population.
Forecasts suggest the city’s population will swell by more than 1.6 million people by 2031, requiring around 664,000 more homes, according to NSW government. As part of that anticipated expansion, the population in Sydney’s Hills district is predicted to swell by 100,000 people.
The Urban Activation Precincts around train stations being built along the $8.3 billion rail link at Bella Vista, Kellyville and Showground are expected to provide up to 12,000 homes, including townhouses, detached homes and apartments.
The Minister for Planning has allocated $15 million to the three areas for local infrastructure. Local communities will decide how the funds are allocated.
The announcement received mixed responses from Hills residents who <a href="https://www.facebook.com/TheHillsShireCouncil" target="_blank">took to Facebook</a> to air their views. Some support the changes while others complained of over-development and worsening traffic problems.
Hills Shire Mayor Dr Michelle Byrne said Council had debated where the forecast population growth could be accommodated.
“We need increased densities around town centres and transport hubs so that the rest of Shire can be preserved as single-lot housing,” he said in a statement.
More broadly along the North West Rail Link corridor, <a href="https://www.planning.nsw.gov.au/en-au/planningyourregion/northwestraillinkcorridorstrategy.aspx" target="_blank">28,800 new homes are expected to go up by 2036</a>.
The three locations in the Hills add to eight areas already identified as Urban Activation Precincts elsewhere in Sydney at North Ryde Station; Epping Town Centre; Herring Road, Macquarie Park; Randwick; Anzac Parade South; Carter Street, Lidcombe; Wentworth Point; and Mascot Station. Higher density development will be encouraged in each of these locations.
The Urban Taskforce is calling for even higher density than what has been suggested in the Hills’ Urban Activation Precincts.
“The proposed 12,000 new homes around three stations is a good start but more housing needs to be planned for,” Urban Taskforce chief executive Chris Johnson says.
The three new areas will need to incorporate residential towers in the mixed-use and high-density residential areas, he says.
“Taller buildings can help with affordability particularly if apartment sizes are kept to state government standards,” Johnson says. “The Urban Taskforce is concerned that the Draft Development Control Plan by the Hills Shire Council proposes apartment sizes well in excess of the state’s sizes and that this will make each apartment more expensive.”
Strong growth in capital values in the Sydney metropolitan area have contributed to a high volume of apartments being planned for development or under construction, according to Knight Frank Residential Research’s Sydney Apartment Market Update, released last week.
The market update reveals Sydney property values have been increasing by 12.15% annually to a median of $549,000, says Knight Frank Residential Research associate director Michelle Ciesielski. Rents have remained stable at $520 per week, with rental yields estimated at 4.95%.
Ciesielski says there are 26,680 apartments in metropolitan Sydney due for completion over the next three years. Almost 10,000 of these will be in the city’s North West including Parramatta, Macquarie Park, Sydney Olympic Park, Wentworth Park and Epping.
But extra development often meets with opposition, particularly in areas that have traditionally had few or no high-rise apartment buildings.
In Lewisham in Sydney’s inner west, for example, developers have faced battles since 2005 with local residents who are against proposals to build multi-storey residential towers at a site on Old Canterbury road near the Lewisham railway station and light rail corridor.
Several development applications have been knocked back and local residents formed action groups to block the development.
The site was sold to Meriton in 2012 for around $50 million and approvals have been now given for work to begin on the site. Meriton’s latest proposals include seven multi-storey buildings between four and 10 storeys tall containing 314 dwellings over two levels of basement car parking plus 128 square metres of retail space. These plans are going through Marrickville Council’s development application processes.
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