Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<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]

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

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?

<html><body>
Mortgage Choice has welcomed Senator Nick Xenophon’s plan to introduce legislative changes to allow first home buyers to access their superannuation savings for a house deposit. 
Mortgage Choice chief executive officer Michael Russell said he believed the proposal would help make a difference to thousands of Australians each year.
The changes to the Superannuation Act 1976 will be debated during the spring session of parliament.
The proposed changes are similar to a scheme, called the Home Buyers’ Plan operating in Canada.
Under the Canadian scheme, home buyers can access up to $25,000 for a first home.
Allowing these buyers to jump onto the property ladder sooner rather than later, the amount borrowed is then required to be paid back into the super fund within 15 years.
Michael Russell advocated the Xenophon scheme as likely to reduce the need for lenders mortgage insurance.
“While lenders mortgage insurance has a crucial role to play in assisting first home buyers into the property market, if the premium can be reduced by lowering the loan to valuation ratio, then this would seem to be in the best interests of buyers," Michael Russell said.
“First home buyers should be allowed to invest part of their super in their own bricks and mortar.”
Mr Russell said the money ought be reimbursed into the homeowners' super account either at the sale of the property or within 15 years – whichever comes first -  and include gains based on an appropriate index.
</body></html>

jchancellor-FAypfDUnLy

Xenophon first home buyer super scheme supported by Mortgage Choice

<html><body>
Divergent trends are apparent in the housing market of late, with investors continuing to show momentum, while credit to owner-occupiers has consolidated since the end of last year.
Andrew Hanlan, the Westpac senior economist was commenting after investment property loan growth accelerated sharply last month, at the fastest year-on-year growth since the first quarter of 2008.
<img src="/images/2014/08/01/wp-aug-1-one.gif" alt="">
The surge in investment loan lending to pre-GFC levels saw loans to investors in June jump 0.9%, according to Reserve Bank of Australia data published Thursday.
Annual investment loan growth has now hit 8.7%.
<img src="/images/2014/08/01/wp-aug-1-two.gif" alt="">
Loans to households – including owner-occupiers – rose by a more modest 0.6%, taking the annual gain to 6.4%.
"Notably, low and falling interest rates in 2013 triggered a sharp lift in new lending for housing," Andrew Hanlan noted.
</body></html>

Investor property loan growth back to pre-GFC levels: RBA

<html><body>
The Calder Freeway, which makes its way through central Victoria’s has contributed to a increase in capital growth and compared to other regional centres towns along this transit corridor are showing the strong appreciation.
For those unfamiliar with Victoria the Calder Freeway is the main road between Melbourne and Bendigo and links <a href="/news">Macedon</a>, <a href="/news">Kyneton</a>, <a href="/news">Gisborne</a>, <a href="/news">Woodend </a>and <a href="/news">Castlemaine</a>. There is also a matching rail service and both have been upgraded over the past decade.
House values in these areas have outpaced Melbourne, Ballarat and Geelong over the past five years.
The best growth was recorded in the Macedon Ranges Shire which includes Macedon, Kyneton, Gisborne and Woodend. Over the past five years house values have grown by 46.2%.
Following Macedon Ranges Shire was Mount Alexander Shire which is centred on Castlemaine. There house values have risen by 39.5%.
The further away from the Melbourne the area is the lower is the growth, presumably as there is less of a flow on from the metropolitan market.
In the City of Greater Bendigo values have risen by 38.4%, lower than Macedon Ranges but still well above the 28.4% recorded in Melbourne.
Interestingly values in Ballarat, with a rise of 33.9% have also exceeded Melbourne.
For many people, the attraction to these areas is highlighted by the availability of more affordable property coupled with a country lifestyle. The data shows that as a result of additional transport options in these areas it has made it more and more possible for people to maintain employment and undertake a tree change.
There are 573 auctions scheduled this week in Melbourne compared to 600 for the same time last year. This is a rare but minor 4.5% fall which does not reflect the fact that in the first eight months of the year there have been 29.5% more auctions than the same time in 2013.
The current regional variation in auction numbers should be taken into account when analysing the auction market as many sellers in the inner east appear to avoiding winter.
The main auction activity in Melbourne remains outside the inner eastern suburbs with 16 homes scheduled to go under the hammer in <a href="/news">Reservoir</a>, 11 in <a href="/news">St Kilda</a> and 10 in <a href="/news">Essendon</a>, <a href="/news">Melbourne</a> and <a href="/news">Preston</a>. For buyers looking in the more expensive inner east volumes are rising slowing with six expected in <a href="/news">Camberwell</a>, <a href="/news">Kew </a>and <a href="/news">Hawthorn East</a>.
The average time on market for houses sold last month rose slightly from 43 to 44 days. Vendor discounting contracted from -5.2% the previous week to -5% last week.
Key data
<ul>
<li>Clearance rate week ending 27 July: 68.5%</li>
<li>Melbourne auctions expected week ending 3 August: 573</li>
<li>Melbourne private sales time on market week ending 27 July: 44 days (houses)</li>
<li>Melbourne vendor discounting market week ending 27 July: -5% (houses)</li>
<li>Listings being prepared for market are 0.7% higher in month ending 27 July (seasonally adjusted)</li>
</ul>
Photo courtesy of Richmeister/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>.
</body></html>

rlarocca-zWhvjay44N

Calder Freeway provides drive for growth: RP Data's Melbourne auction preview

<html><body>
Since the onset of the global financial crisis, migration between Australia’s states and territories has slowed.  
Demographic data released by the Australian Bureau of Statistics (ABS) shows that overseas migrants arriving in the country’s mining states is easing, with most preferring to settle in New South Wales and Victoria.
Over the 12 months to December 2013, there were 235,797 net overseas migrants to Australia while the rate of natural increase was recorded at 160,357.  At a national level, interstate migration cancels itself however, looking at each state you can see that over recent years there are far fewer people moving between the states and territories.
By way of net migration, New South Wales continues to lose residents at a slower rate, while Victoria is the only state where there is a significant rise in the cross border inflow of residents.  
The mining states of Queensland and Western Australia have each seen a fall in both net interstate and net overseas migration over the year. This is a flow on from the slowdown in mining construction activity where activity on these projects move from construction to production which is resulting in lower worker demand.
New South Wales is still seeing a net outflow of residents from the state with a net 11,219 residents leaving the state in 2013.  Over the past 20 years, the outflow of residents has averaged a much higher 18,391 persons.  While the state is seeing some outflow to other states it is well and truly making up for it via the 71,446 net overseas migrants over the year.
<img src="/images/2014/07/31/kusher-july-31-one.gif" alt=""> 
Victoria has recorded an annual average net loss of citizens to other state and territories of 2,278 residents over the past 20 years. Victoria is now attracting a record number of net interstate migrants, with 7,528 new residents moving from other states last year.  Victoria also attracts a significant 62,337 net overseas migrants.
<img src="/images/2014/07/31/kusher-july-31-two.gif" alt=""> 
In Queensland the net inflow of residents from other states and territories is close to a record low. During 2013, Queensland’s net interstate migration was recorded at 6,897 persons compared to a 20 year average of 22,743 per annum. Although Queensland attracted 37,355 net overseas migrants, it is a sharp fall from the 46,161 at the same time in 2012.
<img src="/images/2014/07/31/kusher-july-31-three.gif" alt="">
South Australia has historically shown a much more stable level of population growth. Over the 2013 calendar year, South Australia lost a net figure of 3,994 residents to other states which was slightly higher than the average net loss of 3,263 residents over the past 20 years. Over the 12 months to December 2013, South Australia recorded net overseas migration of 11,872 residents which was slightly higher than the 11,203 over the same period the previous year.
<img src="/images/2014/07/31/kusher-july-31-four.gif" alt="">
Western Australia has seen a downturn in both net interstate and net overseas migration over the past year. Compared to the 20 year average net interstate migration, WA migration is still above average however; it has fallen by -56% over the year to 4,800 persons in 2013. Net overseas migration has also fallen from 56,580 in December 2012 to 45,401 persons in December 2013. 
<img src="/images/2014/07/31/kusher-july-31-five.gif" alt="">
Historically, residents have migrated from New South Wales and Victoria to Queensland and to a lesser degree Western Australia. Since the onset of the financial crisis the outflow of citizens to Queensland and Western Australia has slowed with fewer residents leaving New South Wales and Victoria.  
The sea change phenomenon was a big driver of this migration before the financial crisis. It now seems that when someone has secure employment, particularly in New South Wales and Victoria, they are less inclined to trade that in and move interstate.
With unemployment rising nationally and demand for workers in the resources sector slowing we would expect this trend to continue over the coming year.  In fact the net loss of residents from New South Wales may reduce further and the net gain of residents in Victoria may increase.
</body></html>

ckusher-ujnxiKuFQs

Interstate movements remain low, but Victoria attracting a record number of interstate migrants

<html><body>
One of the joys of my job is listening to people's investment stories - how they've achieved what they have so far and where they are heading.
One of our female clients has six children, is an accountant and owns eleven investment properties after completing two property developments with Property Bloom. To state the obvious, she's time poor, I've written about Rachel in the past...
<a href="/expert-insights/buying/focus-determination-and-drive-are-key-to-property-investment-success-jo-chivers">How does a mother of six come to accumulate eleven investment properties?</a>
Another client is a family man and fellow soccer coach, man does he loves his football! We met years ago as our sons played for the same club, but he didn't know what I did until he read an article in a property magazine that I'd written. Busy with work, soccer and family commitments and with no development experience, he asked me to manage a project for him. Then he embarked on a long-term holiday; we organised the builder to pre-invoice his drawdowns so we could manage the bank payments while he toured Europe.
Another lovely couple recently completed a three villa development with us, she works at a university and he's an engineer, both highly educated. They referred their daughter, a law (and soon to be medicine) graduate to us for her first property investment - a dual occupancy project. She was our youngest ever client. When we completed villas, the parents signed up for another project; they had little spare time and I think most importantly, we'd earned their trust.
We managed one development for a client who we are very proud to say served our country in the Australian Army in Afghanistan. She was there right through the duration of her development. I really cherished the updates we would get from this lady, when she had email access, and was amazed at some of the conditions she had to endure. No running water for days – how is a girl to wash her hair!  Needless to say, she had important things on her mind and could not have managed her own development from an active war zone. I've written about her story before too:
<a href="/expert-insights/investing/don-t-let-a-war-get-in-your-way-when-investing-in-property-jo-chivers">Don't let a war get in the way</a>
All our clients are different - they come from varying backgrounds, cultures and employment and we love working with such diverse clientele.  
But there is a common thread I have noticed.
All of our clients are highly driven and time poor.  They are conscious that there is a limited amount of time available in which to build their wealth.  They've told me, that to outsource the management of their property development to someone more experienced and capable was a no brainer. They openly admit that whilst passionate about property development, there is a knowledge gap and for them to come up to speed would take years.
To handover this responsibility to us lets our clients keep doing what they do well, earn a salary to support their financing and spend precious time with those they love.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
</body></html>

jochivers-wq5Bp59R5a

Even the most time poor people can create a property success story

<html><body>
Riva Vue, a masterplanned development in New South Wales’ Murwillumbah has reduced the price of 15 of the elevated blocks in the estate.
The 24.5 hectare estate includes new residential land located off Barnby Street. Within states one and two, there were 15 sloping view blocks with a range of degrees of site-fall that have views over the Rous River and out to Mount Warning. They have been reduced in price.
The blocks range from 683 square metres to 1,420 square metres and are ranged in price from $120,000 to $160,000.
General manager for Newland Developers, Stuart Campbell, said that they are trying to move existing stock to begin new stages that are planned.
“They are speciality view blocks, providing the perfect base to build a large, elevated designer home – each of which can be architecturally designed to showcase the magnificent tree-scape backdrop on offer at Riva Vue.”
“Our decision to reduce the price of these premium view lots is to appeal specifically to both builders and home buyers that understand the potential and value of building on elevated blocks.”
Meanwhile, Oliver Hume general manager Jilliam Sheridan said that buyers could choose a builder with a speciality in elevated home construction.
“We have seen interest come from local-based home designers, especially those with an architectural flair for creating a unique home that maximises the property’s idyllic outlook and positioning,” Sheridan said.
“This really is the sale of all sales and is a unique opportunity for buyers, who are able to take advantage of current pricing and secure one of the last remaining view blocks available in Riva Vue at reduced prices, to build their dream home.”
</body></html>

jduke-EHk3XBmHkn

Masterplanned Riva Vue, Murwillumbah, New South Wales, prices reduced on 15 blocks

<html><body>
Rams and ME Bank have both cut the interest rates on their fixed home loan products.
Following <a href="/expert-insights/finance/nab-and-westpac-meet-cbas-rate-cut">rate cuts by Commonwealth, NAB and Westpac</a> last week, the two smaller lenders have also dropped their rates, with ME Bank undercutting them all on its five year fixed rate loan.
ME Bank now offers its five-year fixed home loan at a 4.94% interest rate, a 45 basis point cut. They have also cut their three year fixed loan interest rate to 4.69%. According to ME Bank, they are the lowest rates offered for three and five year fixed home loans on the market.
Chief executive Jamie McPhee said ME Bank's rates are better than those offered by the big four banks.
“And borrowers don’t need to pay an extra package fee to get the lower rate – we’re offering 4.94% on our non-package five year fixed home loan," said McPhee.
“Our three year fixed rate has been under 5% for more than 18 months and at a record low of 4.69% since April 2014.
He advised borrowers to fix their home loans, "with variable rates not expected to go much lower - we’re either at or very close to the bottom of the current interest rate cycle”.
ME Bank's rates are available to members of eligible super funds and unions.
Rams cut the rates on their two, three, four, five and ten year fixed home loan rates. Their five year fixed loan product is now offered at 5.19% per annum.
How ME Bank and Rams stack up next to the big four on five year fixed loans: 
<table style="width: 460px;" border="0"><tbody>
<tr>
<td>Bank</td>
<td>Rate</td>
<td>Comparison Rate</td>
</tr>
<tr>
<td>ME Bank</td>
<td>4.94%</td>
<td>5.21%</td>
</tr>
<tr>
<td>Rams</td>
<td>5.19%</td>
<td>5.71%</td>
</tr>
<tr>
<td>ANZ</td>
<td>5.64%</td>
<td>5.86%</td>
</tr>
<tr>
<td>NAB (Choice package)</td>
<td>4.99%</td>
<td>5.56%</td>
</tr>
<tr>
<td>CBA</td>
<td>4.99%</td>
<td>5.62%</td>
</tr>
<tr>
<td>Westpac (Premier advantage package)</td>
<td>4.99%</td>
<td>5.52%</td>
</tr>
</tbody></table>
</body></html>

jrichardson-uRX5hFdKfN

Rams and ME Bank cut fixed year rates: How do they stack up against the big four?

<html><body>
First home buyers are leaving the Australian residential market and the government must work to fix affordability, according to the Real Estate Institute of Australia.
The REIA’s CEO Amanda Lynch, at the Senate Economics References Committee Inquiry into Affordable Housing said that home ownership in Australia is falling and first home buyers are at record lows.
“Governments at all levels must address structural factors that reduce the responsiveness of supply to demand,” said Lynch.
“Projections from REIA’s recent roundtable at Parliament House showed the cumulative housing shortage is likely to increase from 100,000 dwellings in 2006 to 375,000 in 2015.
“Studies have found that the stability associated with home ownership ultimately contributes to positive social outcomes, such as improved education levels for children, better mental and physical health, and greater social connectedness and participation in local community and voluntary organisations,” she said.
Their recommendations include:
<ol>
<li>Assistance for first home buyers for both new and established property. 
</li>
<li>That international schemes, for instance releasing superannuation, be assessed and replicated. 
</li>
<li>Negative gearing be retained for investment to make the rental sector viable. 
</li>
<li>Conveyance stamp duties be abolished and replaced by a different source of revenue. 
</li>
<li>Time frames and release of land to be increased.</li>
</ol>
</body></html>

Government needs to stem “exodus of first home buyers”: REIA

<html><body>
GUEST OBSERVATION
<ol>
<li>
Buying new or off the plan properties Many investors make the mistake of chasing depreciation benefits offered to new properties or stamp duty savings that are available in certain states when buying off the plan. Many forget about the cardinal rule in real estate investing: buying well and buying property at or below what it’s worth. Most new properties are priced according to developer’s profit margin percentages and attract GST, which is paid by the developer and generally loaded into the purchase price. Often properties are overpriced and have limited capital growth as they are competing with newer apartments that are built every year. 
</li>
<li>
Buying properties that banks don’t like If the banks don’t like lending against certain properties, it is usually for a very good reason. Banks won’t want to risk their money and exposure as they might not lend against certain properties such as country/regional/mining town properties or only lend on lower <a href="/expert-insights/finance/what-is-an-lvr-investment-terms-explained">loan to value ratios</a> (LVRs of only 70%) for commercial properties which they see as harder to tenant or resell. Some properties that banks don’t like include high rise apartments in the CBD and surrounds, stratum title or company share properties, small apartments including studios and student accommodation, defence housing and serviced apartments. 
</li>
<li>
Buying property overseas or interstate Many investors make the mistake of buying properties overseas or interstate without really knowing those markets and doing their due diligence properly. They are often attracted to the cheaper entry level prices that these offer but they make the mistake of comparing prices in areas they know versus areas they don’t know. Many Australian investors have purchased property in America, having been attracted to low price tags of $100,000 promised rental returns of 10% per annum. One should ask the question - if the properties were so cheap, why aren’t the locals in America buying them all? Our advice is to do your due diligence and study comparable sales in one or a few areas so that you can purchase the right investment property at the right price. 
</li>
<li>
Buying non-investment grade quality properties A good investment grade quality property has a number of common fundamentals that set it apart from poor investment properties that miss a number of common fundamentals including being in a quiet but convenient location, car parking, street appeal, aspect or view and sunny orientation. Many investors make the mistake of buying a property that is cheap and are lured by a lower price but the problem is that this property will always be cheap and be limited in terms of capital growth prospects and future resale prospects because it doesn’t have key attributes such as an outdoor area or the appropriate floor plan or it is on a major highway. Investors should pay a bit more and get the “right” investment property, not the cheapest one. 
</li>
<li>
Procrastinating and waiting for the “Perfect” investment Many investors procrastinate as they talk themselves out of buying an investment property because they are scared of increasing their debt position and getting into further debt, even though buying the “right” investment property is getting into “good debt” not bad debt items that depreciate in value such as new cars, boats, and plasma televisions. There are not many perfect investment properties that can be rated 10/10 as most properties have some pros and some cons. Investors should definitely do their due diligence before purchasing but should not over analyse or become emotionally involved when buying an investment property.
</li>
</ol>
FRANK VALENTIC is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
</body></html>

fvalentic-kJt4iZ5jDx

The five mistakes every first time property investor should avoid

<html><body>
GUEST OBSERVATION
Looking to ensure a smooth property transaction? Congratulations, you’ve already taken the first step, which is to begin to learn about how property transactions usually work.
The more you know about the process, the easier it is on the blood pressure. Buyers, sellers and conveyancing solicitors all agree that the best surprise at settlement is no surprise at all.
Most property transactions go through six steps:
<ol>
<li>Financing 
</li>
<li>The execution of the contract of sale 
</li>
<li>Review of searches and removal of conditions 
</li>
<li>Preparation of settlement figures 
</li>
<li>Settlement 
</li>
<li>Post settlement matters</li>
</ol>
At each step there may be twists and turns, but these too are generally somewhat predictable. 
Step one – Obtain financing 
Finding the home of your dreams and only then going to look for money guarantees anxiety. 
Most buyers seek preapproval for a mortgage before they go house hunting. That way they know what they can afford.
First time home buyers should explore <a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">whether they are eligible for a First Home Owner Grant scheme</a> (FHOG scheme).  
Step two – Exchange of contracts
Supposing that buyer and seller have met and agreed upon a price, step two is the exchange of contracts. The seller’s real estate agent, conveyancer or solicitor generally prepares the contract, which will set out the description of the property, price, warranties, contingencies and other terms and conditions. 
The buyer’s solicitor will carefully review the contract and negotiate any changes before the parties sign and the buyer pays the deposit. This is known as the “exchange of contracts”.
During a <a href="/expert-insights/buying/what-is-the-cooling-off-period-investment-terms-explained">“cooling off” period</a>, of a few business days, the buyer may withdraw from the agreement, forfeiting the deposit but incurring no legal penalty. 
As an aside, we advocate retaining a conveyancing solicitor rather than a conveyancer because the solicitor has the legal background to evaluate any unanticipated legal issues that may arise in the course of the conveyance.
Step three – Searches and inspections 
The buyer’s obligation to buy the property is generally contingent on satisfactory results from things like pest inspections and property searches. The buyer’s solicitor will order and review the property searches.
In New South Wales, these include a title search, zoning search, strata plan search and a historical search. If there are termites or a problem with the title, for example, the parties may choose to re-negotiate or walk away.
Step four - Pre-settlement Process
This is where the number crunching begins. Smart clients ask for an itemised list of estimated costs before the work begins. In addition to fees for legal services, a buyer should anticipate charges for inspections, searches and building insurance. 
There may also be a category of fees associated with the mortgage, including mortgage insurance, establishment and registration of the mortgage and mortgage duty. Other miscellaneous costs may include photocopying, certificate fees charged by water, utility, roads and school authorities, adjustment for council and water rates, stamp duty and the goods and services tax.
Your job, as a client, is to make a complete pest of yourself at this point. Ask to be updated regularly on costs and ask for an explanation of what those costs are if they seem mysterious.
Step five – Settlement 
This is the exciting part – when the purchase of your property is finalised.
Your conveyancer or solicitor (known as your settlement agent) will meet with your lender and a seller's representative to sign and exchange documents and cheques. The documents will then be lodged with the Titles Office to register you as the new property owner.
Do not be alarmed if at the settlement the costs change to adjust for taxes, rental fees and fees for the release of an existing mortgage. In the spirit of being a nuisance, you should ask your solicitor to estimate these costs for you in advance.
Step six – Post settlement Matters
Remember that the job is not done until the paperwork is finished, so step six involves notifying relevant authorities of the change in ownership and lodging transfer documents with the Land Titles Office. This is often done by the buyer’s lending institution, but to be secure buyers should follow up to confirm with the lender.
Property transactions involve money, quite a lot of it. Where there is money, there can be complications. You can minimise these, however, by understanding the process and insisting that you be updated regularly on costs and progress.
Rolf Howard is managing partner of <a href="https://www.owenhodge.com.au/">Owen Hodge Lawyers</a>. 
Rolf concentrates on business planning and formation, directors’ duties, corporate governance, fund raising and business succession. His major interest is to assist business owners and their financial advisers plan and implement strategies to build and exit from successful businesses.<a href="https://www.owenhodge.com.au/" style="line-height: 1.3em;"> </a>
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News