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?

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It’s commonly said that property buyers, particularly those in Gen Y, are not keen to compromise on their lifestyle.
However, if you wanted to get your foot into the property market what would you be willing to sacrifice?
The recently released realestate.com.au Housing Affordability Sentiment Index (HASI) conducted by independent research company Research Ink, asked broadly what home buyers would be willing to sacrifice in order to afford a property.
They found that 65% would be willing to sacrifice a pool, consistent with previous years.
Meanwhile, 44% would not be willing to buy/build further than 10 kilometres from their selected ideal locality. Fascinatingly, investors were more likely to consider purchasing 50 kilometres or farther from their ideal investment location.
One in two of Gen Y respondents were willing to increase their debt level to achieve their desired standard of living.
Over a quarter of current/previous property owners surveyed received financial assistance for their first property, with the majority of the help coming from their parents.
{module What features of your ideal home would you be willing to sacrifice?}
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What would you be willing to sacrifice to afford your next home?

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The Housing Industry Association has said that it’s time to allow young buyers access to their superannuation savings to assist with a deposit in getting into a new home, saying that it would also assist them in retirement.
HIA executive director, industry policy and media, Graham Wolfe, said that superannuation contributions are a form of forced savings to assist in retirement.
“Owning a home delivers the same result, but with the added benefits arising from home ownership throughout their working lives,” said Wolfe.
“Many young people are busy working, renting, repaying their education costs and in many instances, raising a family,” he said.
“Saving for a deposit at the same time is a significant challenge.”
He noted that enabling access to a portion of their superannuation will allow many first home buyers to accumulate a deposit, redirect their rental payments to their own financial security and allow home ownership sooner.
“Accessing superannuation for a home deposit would provide temporary access to their personal savings. Provided it was repaid to their superannuation accounts over a period of time, similar to university HECS repayments, their retirement savings would be assured,” he said.
“HIA urges all stakeholders to support measures aimed at improving access to home ownership for first home buyers, including assistance in breaching the deposit gap.”
Allowing first home buyers access to their superannuation is something that has been previously encouraged by the Real Estate Institute of Australia for some years, including <a href="/news/reia-urges-government-to-allow-fhbs-to-dip-into-superannuation-for-a-home">in their submission to the last government budget</a>.
It would follow <a href="/news/act/australia-could-learn-from-new-zealands-first-home-buyers-super-scheme-reia">New Zealand</a> and <a href="/expert-insights/investing/reia-lobbies-for-canadian-style-first-home-buyer-scheme">Canada</a>, who currently allow this.
However, last time Property Observer<a href="/news/exclusive-should-australia-follow-canadas-home-buyer-plan-the-experts-have-their-say"> surveyed our panel of experts about whether following Canada’s first home buyer schemes would work</a> for Australian first time buyers, most said that there are other fundamental issues that should be addressed before allowing them to tap into their superannuation.
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Time to allow first home buyers access to superannuation: HIA

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One of Australia's biggest property lobbies has called for an end to stamp duty, claiming that the move will create a more mobile workforce.
The Property Council of Australia (PCA) has commented on the latest report from the Business Council of Australia, the Building Australia's Comparative Advantages report, which notes a need for higher mobility among workers.
According to the PCA's chief executive Ken Morrison, the report supports their call to end land taxes and stamp duties.
“Today’s report by the BCA reinforces what we have been saying for years – stamp duty is a ball and chain that deters many Australians from relocating for work," said Morrison.
"Workforce mobility is essential as the national economy transitions from the mining investment boom to a new phase of growth.
“As new areas become employment hubs, we need to make sure we have the right people in the right places and that means assisting Australians to relocate to where the jobs are.
“Unfortunately, there are many impediments to relocating, which makes an already daunting decision harder."
He cites stamp duty as a major deterrent to relocation.
“Stamp duty in particular not only increases house prices but means a significant loss of capital for many families seeking to move.
"For people already feeling the pinch, particularly those looking for work, the additional hit to savings of stamp duty costs makes the decision to relocate a last resort," he said.
“The Property Council has consistently argued that stamp duty is a handbrake on workforce participation and locks many Australians into housing and locations that do not suit their needs.
“Abolishing stamp duty is essential to encouraging greater productivity in our changing economy and must be considered as part of the Federal Government’s tax reform agenda," said Morrison.
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jrichardson-uRX5hFdKfN

Time to abolish stamp duty: PCA

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While some commentators have been discussing a slowdown in the significant rate of property price growth in some Australian cities, HSBC Global Research has suggested that this is not the case.
In fact, they’re expecting double digit growth to be realised by year end with the risk of a bubble increasing in cities such as Sydney.
“We expect housing prices to rise by around 10% this year, supported by low mortgage rates,” their research summary explains.
However, they went on to say that they remain of the view that Australia does not have a housing bubble “but the risk that a bubble forms is rising, particularly in the Sydney market”.
“Signs of exuberance are most acute in Sydney, where housing prices are already rising at twice the pace of elsewhere and the investor share of market has reached record new highs in recent months,” their research explains.
Prudent action on behalf of the Reserve Bank was also said to be becoming more critical with the risk of leaving interest rates too low for too long having the potential to drive excessive risk taking in the housing market.
With this in mind, they also suggested that further rate cuts would not be materialising – with hikes to contain growth the more likely scenario.
They noted that in May, there were indeed signs that activity in the housing market is slowing down. However, subsequent activity in June and July have proven this to be a temporary lull with auction clearance rates and prices bouncing back over this month and seasonality perhaps being part of the reason for the slowing.
Despite their overall view that it’s not crisis mode yet, and no bubble has yet been inflated, they did call Sydney’s market “worrisome”.
“The current pace of housing price growth in Sydney seems likely to be unsustainable. Over the past year, Sydney’s housing rices have risen by 15 year on year, while the weighted average of the other capital cities has increased byonly 7% year on year,” they noted.
The pick up in Sydney was attributed to some fundamental factors, including slower supply response and restrictions on land release, but also noted that there are more worrying signs as well.
“In this regard, Sydney’s housing market is starting to show signs that the merely the expectation of rising housing prices may be starting to drive housing price gains, which is worrisome,” they explained.
“One such sign is the investor share of new housing loan approvals, which has reached a new record high in recent months, exceeding the levels reached during Sydney’s 2002-03 housing boom.”
They also pointed to the proliferation of property buying seminars, particularly those aimed at SMSF property purchasing, as a worrying sign.
In 2002/2003, the boom saw Sydney race past Australia’s national growth averages, and after this a significant increase in mortgage defaults was seen.
“It is fair to say that if any part of the national market had the characteristics of a bubble in 2002-03, it was the Sydney market,” they noted.
However, they said there are clear differences this time round. For instance, in 2002/2003, exuberance had spread from housing to the broader economy, housing credit growth was running at over 20% annually and equity withdrawal was a significant driver of household consumption.
At present, signs this exuberance is spreading beyond the housing market are limited.
YOU MIGHT ALSO WANT TO READ
<a href="/expert-insights/buying/how-can-investors-cope-with-a-property-bubble-q-a-with-philip-soos">How can investors cope with a property bubble? </a>Q&amp;A with Philip Soos
Pessimism threatening further price growth: July state of the market analysis
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Sydney bubble risk increases as house prices expected to boom by 10%: HSBC

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GUEST OBSERVATION
"Property investing is risky – do you really want to do that?"
I am sure you will have heard this before. I know I have, and so have many of my clients.  Deep down you have this urge that you should do something about your financial future but you are constantly getting all these “expert opinions” from family or friends that have lost money, or heard about someone that has.
But you still find yourself wondering whether property investing is safe. Are they right?
The truth is all forms of investing have an risk component.  From shares, to businesses, property or even simply investing in yourself – they all come with an element of chance. You may lose your money or even worse, they might cost you more money than you originally put in!  
Personally, I would run in the opposite direction from anyone that tells you that they have a foolproof investment because there is no such thing.  However, there are provisions you can put in place to help reduce your risk exposure, and they might not be what you think.
What’s one of the top provisions I suggest to my finance clients weighing up the ‘riskiness’ of any property investment opportunity?
In case of emergency, have a buffer. 
Always factor in a buffer to your figures to lessen the impact of unexpected events you may be affected by. These may include things like being without tenants for some time or abrupt shifts with your employment.  No matter the income you earn, or debt level you have, having a buffer is vital to your portfolio’s existence.
Depending on your situation you may want to consider applying for more than you need.  Banks like to give you money when you don’t need it so much, not when you do.  You don’t pay interest on the funds you don’t spend, so if you are able to, get more than you need for your purchase so it’s there if you need it.  
On the other hand, if you’re really pushing your limits for your purchase and don’t have room to do this, it may be time to reconsider the investment opportunity.  Investing is great, but if it has the potential to put you and your family under financial strain, or dramatically affect your lifestyle in the face of unexpected events, it’s not going to be beneficial at all.
Another way of incorporating a buffer into your finance strategy is to use lenders mortgage insurance (LMI).  This insurance protects the lender, not you as a borrower, but can allow you to borrow more than you could without it.  LMI can be a contentious issue, as many mortgage brokers don’t believe in utilising it, even for more dynamic investors. In truth it is quite a complex area but using LMI, if properly considered, can be a great tool for creating buffers and thus reducing risk exposure.  
It seems counterintuitive to borrow more to reduce your risk, but if you can safely do so it really is a game changer. Of course, it is always best to discuss the pros and cons of your own situation with a broker before making this kind of decision.
Finance can be tricky but it’s not a mystery by any means.  It’s through taking a step like incorporating a buffer that you are able to start to structure your finances and your mindset around risk in a different way, easing the pressure around starting to build a property portfolio.  This not only helps you feel more comfortable taking control of your financial future, but in some cases can be very liberating for property investors.
Michelle Coleman is an award winning finance broker and managing director at <a href="https://www.wfinancial.com.au/" target="_blank">W Financial</a>.
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mcoleman-u4QTxPRvfF

Weighing up the risks of buying an investment property

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Back in February 2012, I published a post on the subject “smaller apartments to be the norm, not the exception”. 
Now almost two and a half years later we are starting to see projects that were then on the drawing board either finished or mostly sold off the plan.
As was already apparent back in 2012, today the reality is that generally apartments have in fact gotten smaller. However, via skillful design and by responding to buyer feedback, smaller now also generally means better. While size is still important, it’s not the most important factor.
Over the same time frame Sydney has also retained it’s place (which depending upon your circumstances and point of view is either a good or bad thing) among the world’s most expensive cities to buy a home. In 2012 there was the certainty that new apartment designs were set to be smaller but also hopefully more efficient with changes being driven mainly by price ceiling constraints and lifestyle demands.
What we have seen over the intervening years has been a remarkable shift in design standards and buyers have also shown little or no resistance to smaller apartments. From a marketing perspective this shift has been driven by a number of factors, mainly quality, good planning and lifestyle shifts. But there has also been the expectation that smaller did not mean inferior.
Smaller Apartments, Big on Design
Apartment buyers are a pretty smart bunch, developers know this and as marketers we also respect how much more engaged buyers have become. When buyers approach off the plan projects they do so with confidence but that is also matched by a much more discriminating buyer.
There have been a number of key facts driving this trend. Higher prices are key; this applies to all buyers as investors are no less demanding of quality. There has also been greater competition for the best locations.
I get constant feedback that in a nut-shell goes like this: Buyers are looking for well-designed, carefully planned projects, that are well located, close to local shops (and that is within walking distance), with access to good public transport. Most buyers are willing to move down in apartment size, but they expect location and services to be top rate. They also have a clear checklist of what they expect internally.
I also think that this has a lot to do with market education that comes via reality TV. There are now so many home renovation shows and I think this has been a factor in educating buyers. They are more aware of good design.
Like the food revolution that has in part grown out of the saturation of cooking TV shows, I think the same can be linked to a cultural shift that has buyers thinking about the design and function of apartments. This also extends more than ever to the reputation of the developer and builder.
First Impressions
One of the most telling ways to judge how people are reacting to smaller and smarter projects is to see how they first respond, what questions are generally top of mind and what first impression is created at a sales and display centre.
They are very keen to see how the space is used; they look beyond the finishes to how the space will function and what the developer has done to make the space work.
I have also noticed buyers are keen to see how the project sits within the neighbourhood and what sort of brand message does the exterior design of the building broadcast. They are quick to spot gimmicks, but there is an appetite for themed buildings that reflect the local environment.
It’s fairly clear that a good project team has to work hard to get the mix just right, this is now essential as apartments are not seen as a stepping stone any more, they are home to more and more of us. Between 2009 and 2012 the supply of new apartments increased by 56% and over the same period the numbers of new detached dwellings fell by 13%.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Some Trends
Looking at one of our most recent developments, Woolooware Bay, near Cronulla, in Sydney’s Sutherland Shire, there’s a variety of one, two and three bedroom apartments which range in size across an assortment of designs which include: (internal) 59 square metres for a one bed, 78 square metres for a two bed and 114 square metres for a three bed. These apartments being developed by Bluestone help highlight how good design is being delivered.
Some of the features include; a multi-purpose or shared zone, which might have been a media-nook or study, but has now evolved to a shared space for work, study or pleasure. Apartment kitchens have also evolved, perhaps more than any other area, kitchens are now almost a ‘piece of furniture’ with varied surfaces, textured finishes, display cupboards, recessed lighting, and so just having stainless steel appliances no longer makes the grade.
Other design features include the use of windows and balcony access to create good air circulation, and balconies even, when they are small, are now more private, attractive ‘rooms’. Most of the larger three bed apartments at Woolooware Bay provide balcony access from all main rooms and all bedrooms. The use of high-set windows and privacy screens are now more common features, and there’s a deliberate aim to create separation and privacy for bedrooms.
Another area of design, and this might well help make smaller apartments even more functional, is the use of technology to create ‘smart apartments’ where the push of a button might one day do much more than switch on the lights and TV.
We aren’t fully there yet, but at almost every consumer electronic show manufacturers now display even more smart-home devices. The spread of smart-phones and tablets could soon see apartments online and residents able to switch their lights on or off, tweak the air conditioning, order in dinner, and make sure those houseplants and pets are looked after.
Buyers are skeptical when it comes to ‘gimmicks’, but this does not mean that as apartments are smaller there is not a need for well-planned building facilities. Alongside better interior design these facilities have also evolved and in addition to lap pools and well-equipped BBQ areas. We now have contemplation gardens, wine cellars, common rooms, a library and indoor and outdoor cinemas. However, when these facilities are included, buyers are still keen to see strata levies at manageable levels alongside the focus on quality management.
The end result of all of these trends is the ready comprehension among developers and buyers that smaller apartments are workable and popular, but this needs to be balanced with really assiduous design, great quality and the continued quest for well thought-out locations and buildings with sought-after facilities.
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pchittenden-eLqUUC8TWW

When it comes to apartments, smaller really can be better

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Not for profit vegetarian eatery Lentil as Anything have expanded to a new Sydney address – 391 King Street, Newtown.
The unusual paying method sees patrons give what they think the food is worth, or what they can afford, as a donation – rather than having set costs – known as the “honesty policy”.
“We would like to let you all know that Lentils Sydney is moving to our own premises this coming Monday, July 28th,” the company recently announced. “Very excited to have a place to call our own, and still right in the heart of the inner west.”
The restaurant seems to be doing well despite facing hefty competition on the other end of vegetarian-friendly King Street, with popular Green Gourmet, Basils Pizza and Green Palace up the road.
After opening their first Sydney store further up the road at 531 King Street in April this year, the switch in venue brings them closer to highly trafficked Newtown Station.
Their tagline is ‘Food, Culture, Community’ and they have been operating for approximately 13 years.
Originally established in St Kilda in 2000, the chain offers hospitality experience to people in need. It was founded by former Sri Lankan refugee Shanaka Fernando.
They are currently fitting out the store and shared the news with their <a href="https://www.facebook.com/lentilasanything" target="_parent">Facebook fans</a> using the picture below.
<img src="/images/2014/07/29/newtown%20july%2029%20one.jpg" alt="">
Image courtesy of Facebook. 
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Newtown's Lentil as Anything upsizes to new address

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With the latest season of The Block underway, we already know the contestants are in for a tough 10 weeks.
They'll be competing with junk, budgets and each other to convert a Prahran office block into five luxury apartments.
Here's what each team will be working with:
<ol>
<li>
Karlene and Michael 
<img src="/images/2014/07/18/michael%20and%20carlene.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 236.8 square metres
Aspect: Southerly Rundown: Though they have an undesirable position, Karlene and Michael have the second largest terrace on The Block. 
</li>
<li>
Chris and Jenna 
<img src="/images/2014/07/18/jenna%20and%20chris.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 277 square metres
Aspect: No external windows Rundown: To make up for their lack of external windows, Chris and Jenna have been given the biggest of the five apartments. They plan to place a tree in the three-level void of their home. They are also the only team to have a rooftop terrace. 
</li>
<li>
Karsten and Maxine 
<img src="/images/2014/07/18/karstan%20and%20max.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 237 square metres
Aspect: North-westerly Rundown: Karsten and Maxine's apartment has city views and a desirable aspect. The couple has already locked in real estate agents from Buxton Albert Park, who auctioned Brad and Dale's apartment last season. 
</li>
<li>
Simon and Shannon 
<img src="/images/2014/07/18/shannon%20and%20simon.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 249 square metres
Aspect: Southerly Rundown: The brothers have the second largest apartment of the bunch, overlooking Prahran's High Street, on the front right side of the building. 
</li>
<li>
Darren and Deanne 
<img src="/images/2014/07/18/darren%20and%20dee.jpeg" alt="">
Image courtesy of Channel 9. Floorspace: 186.7 square metres
Aspect: Northerly  Rundown: Though they have the best aspect of any of the apartments, Darren and Deanne have a lot less floorspace - 90 square metres less than Chris and Jenna, who have the largest apartment.</li>
</ol>
Each apartment will also have 70 square metres of basement storage and two carspaces. The ground level of the building will be devoted to retail space, with the second floor to house the two bathrooms and three bedrooms of each apartment.
The varying sizes of the apartments in The Block Glasshouse will no doubt spur plenty of interesting discussions over whether floorspace or aspect counts most in an inner city apartment, though as we saw in Fans v Faves, auction order could play just as big a role in the final result.
Photo at top of article courtesy of Channel 9.
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The Block Glasshouse: How do the five apartments compare?

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High density urban redevelopment is needed to improve housing affordability and ensure community access to amenities is fairly distributed around Sydney as the city grows, according to the chair of the Committee for Sydney and director of Turnbull and Partners, Lucy Turnbull.
But local resistance to high density development is creating barriers to urban improvement, Turnbull said at the 2014 HIA Building Better Cities Summit in Sydney last week.
“There is a fundamental break down between professional and industry understanding, and community understanding, of the benefits of smart growth,” said Turnbull, who among other board and executive positions is Chair of the Committee for Sydney and former Lord Mayor of the City of Sydney.
“Communities often have the default position that doing nothing is the best thing,” she said.
Resistance to development was often based on a fear of a loss of access to services such as healthcare, car parking, childcare, local schools and public transport.
This was exacerbated by the small size of Sydney’s local government areas which led to attitudes at a local level that managing wider national and metropolitan population and economic growth was someone else’s problem, Turnbull said.
With a population of around 4.5 million, Sydney has 38 local government areas. In contrast, Brisbane has one local government area covering a population of one million. Overseas, London has a population of 8.2 million and one city council that sits above 33 local government areas. New York City, with 8.3 million people, has one city council and five boroughs.
Turnbull said higher density developments in Sydney could deliver benefits to the community by improving the vitality of town centres and access to public transport.
She said the Central Park development near Sydney’s central station and Stockland Balgowlah on Sydney’s northern beaches should be held up as good examples of urban development done well.
She identified Parramatta, Liverpool and Penrith as areas in which higher density centres should be developed.
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Resistance to high density development creating barriers to urban improvement: Lucy Turnbull

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For those who think houses will always outperform units, this week’s top 10 most expensive sales might offer some food for thought.
It was a three bedroom unit that took out the top sale in the country this week, clearing the second most expensive home, a four bedroom house, by almost $4 million.
These are the 10 biggest sales of the week, from RP Data.
<ol>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2/3_loftus_road_darling_point_nsw_2027/16165997">2/3 Loftus Road, Darling Point, NSW</a>
<img src="/images/2014/07/29/1.jpg" alt=""> This three bedroom unit sold for $6.4 million through 1st City Hasemer and Caldwell.Eyes and LJ Hooker Double Bay. The full floor, 326 square metre, residence in The Bower was designed by JPRA and Collins Vanguard.
The luxury apartment has an en suite for each bedroom, a family room that extends to a wrap around terrace and 21 metre frontage to the harbour. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_roslyn_street_brighton_vic_3186/10020852">4 Roslyn Street, Brighton, VIC</a>
<img src="/images/2014/07/29/brighton-july-29-one.jpg" alt=""> This four bedroom house in the Melbourne bayside suburb of Brighton sold for $2.475 at auction through Nick Johnstone Real Estate Brighton. The contemporary two storey home has three bathrooms and a powder room and three living spaces. Outside, there is a solar heated pool and spa. The vendors purchased the house for $1.58 million just last year.
</li>
<li>
 <a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/23_beaufort_street_croydon_park_nsw_2133/2031134" style="line-height: 1.3em;">23 Beaufort Street, Croydon Park, NSW, 2133</a>
<img src="/images/2014/07/29/3.jpg" alt=""> 
In Croydon, a five bedroom house was sold for $2.19 million by Elders Inner West Enfield. The full brick home has a formal living and dining area with a curved glass wall, a casual meals and family room and a lift servicing all three levels of the house. It sits on a 614 square metre corner plot.
The vendors purchased the home for $1,275,000 less than a year ago. 
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_sevenoaks_street_balwyn_vic_3103/9568809">28 Sevenoaks Street, Balwyn, VIC</a>
 <img src="/images/2014/07/29/4.jpg" alt="">
Another five-bedroom house, Balwyn offering secured $2.16 million for the vendor through Bekdon Richardson and Hawthorn. In a prime school district, the house sits on a 797 square metre block. The house has multiple living spaces, including a formal living and dining room and open plan family areas, with a sandstone wrap around terrace and a glass enclosed pool and spa with its own private bathroom. The house was purchased by the vendors in April 2006 for $1.73 million.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_tutus_street_balgowlah_heights_nsw_2093/1231539">18 Tutus Street, Balgowlah Heights, NSW</a>
<img src="/images/2014/07/29/5.jpg" alt="">
Sold on July 23 by Richardson &amp; Wrench Seaforth, this three bedroom house secured for $2.1 million. Adjoining a bush reserve, the house is set on a 701 square metre “gently undulating” plot with a North Easterly aspect. The house is a few minutes’ walk from Forty Baskets Beach. The house has been held by the same vendors for 23 years – they purchased it for just $262,500 in 1991.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/38a_crescent_road_mona_vale_nsw_2103/4381359">38A Crescent Road, Mona Vale, NSW, 2103</a>
<img src="/images/2014/07/29/6.jpg" alt="">
This five-bedroom house was sold at auction on July 24 by L J Hooker Avalon for $2,095,000. Overlooking Pittwater, the house has interconnected living spaces around a central outdoor terrace and a pool. Despite making the top 10 list, the vendors made a loss on the sale – they bought 38A Crescent Road for $2.2 million in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1_francis_street_naremburn_nsw_2065/4728487">1 Francis Street, Naremburn, NSW, 2065</a>
 <img src="/images/2014/07/29/7.jpg" alt="">
McGrath Real Estate Agents sold this four bedroom, three bathroom house for $2,053,000. A few minutes away from St Leonards Railway Station, the single level home sits on a 727 square metre block. It has floorboards through the living areas which transition to a north-east facing deck. The vendors purchased the house five years ago, for $1.73 million.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/116_fifth_avenue_windsor_qld_4030/8251326">116 Fifth Avenue, Windsor, QLD</a>
 <img src="/images/2014/07/29/8.jpg" alt="">
The only Queensland home to make the top 10 list this week, this house secured $2,005,000 when auctioned by Ray White Alderly. The four bedroom Queenslander has high cathedral ceilings and polished floorboards throughout. The property also features a salt water pool and three 3,000 litre water tanks on its 1,045 square metre plot. It was bought by the sellers for $1.14 million in November 2005.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/1/3_drummoyne_avenue_drummoyne_nsw_2047/2124490">1/3 Drummoyne Avenue, Drummoyne, NSW</a>
<img src="/images/2014/07/29/9.jpg" alt="">
The second unit on this week’s list, this three bedroom Drummoyne offering sold for $2 million through Patterson Rizzo Biviano. The renovated townhouse has panoramic water views from its large entertaining terrace. The complex comes waterfront gardens, a pool and pontoon. The vendors purchased the townhouse for $1,515,000 in 2007.
</li>
<li>
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/17_castle_street_randwick_nsw_2031/5744260">17 Castle Street, Randwick, NSW</a>
 <img src="/images/2014/07/29/10.jpg" alt="">
This two storey four bedroom house sold through Phillips Pantzer Donnelley for $2 million. Close to Centennial and Queens Park, the modern home has a northerly aspect, a swimming pool and secure parking. All the bedrooms are on a single level, freeing up the other floor for living spaces. The home also has a saltwater plunge pool.
The sellers made a loss on this house. It was bought for $2.15 million in 2009.
</li>
</ol>
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