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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There are few topics that cause as much debate among property pundits and housing economists as Australia’s potential property bubble.
It’s a divisive topic. Those who say that we are experiencing a housing bubble are often labelled scaremongers, while those who consistently deny the presence of a bubble are accused of spruiking.
Philip Soos is an economist and post graduate candidate at Deakin University. He has recently co-authored <a href="https://www.worldeconomicsassociation.org/files/Bubble_Economics_Egan_Soos.pdf" target="_blank">Bubble Economics: Australian Land Speculation 1830-2013 </a>with Paul D Egan.
Property Observer asked Soos to explain past bubbles in Australia’s economy and how Australian investors can cope with a potential bubble.
<img src="/images/2014/07/29/soos-profile.jpg" alt="" style="float: right;">
What is your new book about?
The book provides a conclusive answer to the debate that has been raging in Australia for the last decade – is there a bubble in the housing market? Paul D. Egan and I used a fairly conventional approach to investigate this possibility.
We examined the work of the small number of economists who identified the US housing bubble and predicted the GFC, analysed past real estate bubbles in Australia’s history going back to the 1830s, and used a paper published by the RBA in 1999 (<a href="https://www.rba.gov.au/publications/rdp/1999/pdf/rdp1999-06.pdf" target="_blank">Two Depressions, One Banking Collapse</a>) as a template for the book.
What we found is that Australia’s history is littered with real estate bubbles (really, land market bubbles) that later collapsed, pummelling the banking and financial system and repeatedly sending the economy into recession or depression. The stock market has often bubbled over as well, but the effects weren’t nearly as bad.
What is the difference between a bubble and a normal business cycle peak?
Every capitalist economy experiences fluctuations or business cycles, especially given its dynamic and chaotic nature. Business cycles are driven by a number of factors, particularly rapid industrialisation and urbanisation, mining and manufacturing booms, and the rise and fall of speculative asset bubbles. The former are typically based on fundamental movements in the domestic and world economy, but the latter is caused by irrational exuberance.
Due to the reasons mentioned below, mainstream economists pay little attention to the cycles in stock and land markets. If they did, they would notice that many business cycles throughout history have been strongly influenced by real estate booms, financed by private debts the banking and financial system extends to speculators. Controlling the regular pattern of asset bubbles would considerably tame the business cycle.
What are some big bubbles Australia's property market has seen?
The first land market bubble occurred during the 1830s. Speculators purchased enormous amounts of government-owned land, holding them in the hopes that prices would always rise. But fall they did, resulting in Australia’s first depression in the early 1840s, which the economy promptly recovered from.
The second bubble was insane, developing during the 1880s. Bank and non-bank lenders provided credit to everyone who wanted it, underpinning a period of mass speculative fervour, primarily in commercial CBD real estate. There were reports of Melbournian city blocks doubling in price within the space of several months in 1887. The bubble collapsed in the early 1890s, resulting in the worst depression on record, relatively worse than the ‘Great Depression’ of the 1930s.
The next bubble formed during the 1920s, though this was muted compared to the two previous bubbles. Banks were more cautious and adopted <a href="https://www.philipsoos.com/private-debt/">prudent lending standards</a> which ended up saving them during the depression. The movement in real estate prices were smaller relative to the previous land market cycle. The banks favoured lending to the business sector rather than households during these three bubbles.
The mid-1970s saw a commercial bubble, feeding into a smaller residential bubble which peaked in 1974. Both were financed by a sharp rise in lending by the banking and financial sector and eventually burst, bringing about a recession. The high rate of inflation and wage growth did, however, help to mitigate the large private sector debt burden.
During the late 1980s, another commercial bubble developed, centred in Melbourne, Sydney and Perth. After peaking in 1989, commercial real estate prices collapsed by 60% through to 1993, a thorough blood-letting. This produced the early 1990s recession and, to date, Australia has escaped a further recession.
The latest, and easily the largest, land market bubble in post-WW2 history began in 2001. This time around, the commercial property market is playing a backseat role, with the housing market severely overpriced by a range of <a href="https://www.philipsoos.com/housing-valuation">fundamental indictors</a>, indicating severe trouble will occur when it collapses. The illiquid, over-leveraged, under-capitalised, highly concentrated, foreign-funds addicted, and heavily over-compensated banking and financial sector is eerily reminiscent to that of the 1880s.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Are any markets in Australia currently in a housing bubble?
All capital city housing markets have experienced a <a href="https://www.philipsoos.com/housing-prices/">surge in prices</a> since the mid-1990s, with Melbourne posting the largest gain between the low in 1996 and apparent peak in 2010. Perth has also boomed, with prices doubling in a couple of years after 2004, peaking in the March quarter of 2007.
According to our <a href="https://theconversation.com/property-bubble-thats-the-theory-anyway-16814">preferred measure</a>s of a housing bubble - rising real (inflation-adjusted) prices, accelerating mortgage debt and aggregate net rental income losses - all capital city markets are in the bubble zone, though some are larger than others. Darwin has the <a href="https://www.philipsoos.com/rents-and-yields/">highest yields</a>, so it appears to have the smallest bubble.
What is the relationship between purchasing for capital gains and housing bubbles?
The crazy race for capital gains (paper gains or phantom wealth) is the cause of the bubble. Property investors accumulate huge debts to speculate on the future movements of housing prices, expecting continual rises. Fundamental metrics like household incomes, rents and yields are dismissed, as rapidly rising prices become the new norm.
To protect themselves from a crash, should investors be seeking rental returns rather than purely capital growth?
Yes! The fundamental value of a property is based on the income it produces, not what prices could be next year or the year after. Gross yields were around 7% during the mid-1990s, falling to 4% today. Those who have focused on positive cash flows rather than capital gain will come out ahead.
Housing prices can only rise so far given the staggering burden of household debts, currently around <a href="https://www.bis.org/statistics/credtopriv.htm">110% of GDP</a> as of 2013. This is a historical high and aligns with other nations having experienced a bubble: Ireland, Denmark and the Netherlands. Unfortunately, 67% of investors are negatively-geared as of 2012, up from 51% in 1994, indicating they are focused on capital gains, not rental income.
Why do you believe economists "get it wrong" when it comes to bubbles?
There are two primary reasons why the economics profession as a whole always fail to identify real estate bubbles and predict the subsequent economic downturns.
The first is the theory taught and practised is a <a href="https://www.amazon.com/Debunking-Economics-Revised-Expanded-Dethroned/dp/1848139926/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1405987428&amp;sr=1-1&amp;keywords=debunking+economics&amp;dpPl=1">pseudo-science</a> (neoclassical economics). It imagines a world where people can see into the infinite future, know all information and always make rational decisions. Furthermore, banks, debt and time do not play any role in these models. Economists assume housing and land markets operate efficiently by definition; therefore bubbles can’t exist by this logic. It’s a religious-like belief, but with <a href="https://theconversation.com/time-to-stop-rewarding-economists-for-bad-behaviour-5836">very dangerous consequences</a>, especially for middle and low-income earners.
The second reason is due to vested and conflicts of interest. It is almost impossible to gain the honest opinion of an economist, researcher or analyst into matters of real estate and banking. Economists, particularly those in senior and executive roles within government and industry, are unwilling to jeopardise their incomes and privileged status by pointing out the obvious. If they did, they would be kicked to the curb by their employers by the end of the day.
It’s also the reason why our book has been suppressed by the mainstream media, echoing the experience of other published authors who have come to the same conclusion, such as Australian businessman Lindsay David (<a href="https://www.australiaboomtobust.com/" target="_blank">Australia: Boom to Bust</a>). Our two books have a combined 1,000 plus pages of the most in-depth research on real estate, banking and mining available, but no mainstream journalist or reporter will review or cover them. This is to be expected, however, given the irrationality of the times we live in.
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jrichardson-uRX5hFdKfN

How can investors cope with a property bubble? Q&A with Philip Soos

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The McGrath agency secured Sydney's cheapest weekend auction sale.
Not the $370,000 two bedroom house sale at Marayong in Sydney's Blacktown district, but $368,000 in Centennial Park.
It was a 25 square metre studio apartment at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-centennial-park-nsw-2021/231241" target="_blank">37/80 Cook Road</a> in the 1970 block, Gardinia (pictured below).
<img src="/images/2014/07/29/centennial%20park_0000_1.jpg.jpg" alt="">
<img src="/images/2014/07/29/centennial%20park_0001_2.jpg.jpg" alt="">
It last sold at $298,500 in 2006, reflecting 2.5% annual growth, while the Marayong house last traded also in 2006 at $265,000, so reflected 4.3% annual growth.
By coincidence John McGrath commented recently on a RP Data report that worked out where the bulk of capital city sales takes place.
Sydney’s top price brackets
<ul>
<li>$400,000 to $600,000 – 29.6% of sales</li>
<li>$600,000 to $800,000 – 20.5%</li>
<li>$200,000 to $400,000 – 17.3% 
</li>
</ul>
Melbourne’s top price brackets
<ul>
<li>$400,000 to $600,000 – 33.9%</li>
<li>$200,000 to $400,000 – 29.1%</li>
<li>$600,000 to $800,000 – 17% 
</li>
</ul>
Brisbane’s top price brackets
<ul>
<li>$400,000 to $600,000 – 38.8%</li>
<li>$200,000 to $400,000 – 37.7%</li>
<li>$600,000 to $800,000 – 13.1% 
</li>
</ul>
Canberra’s top price brackets
<ul>
<li>$400,000 to $600,000 – 51.7%</li>
<li>$200,000 to $400,000 – 20%</li>
<li>$600,000 to $800,000 – 18.1% 
</li>
</ul>
Perth’s top price brackets
<ul>
<li>$400,000 to $600,000 – 43.2%</li>
<li>$200,000 to $400,000 – 19.8%</li>
<li>$600,000 to $800,000 – 19% 
</li>
</ul>
Adelaide’s top price brackets
<ul>
<li>$200,000 to $400,000 – 48.4%</li>
<li>$400,000 to $600,000 – 30.1%</li>
<li>$600,000 to $800,000 – 9.2% 
</li>
</ul>
Darwin’s top price brackets
<ul>
<li>$400,000 to $600,000 – 41.5%</li>
<li>$600,000 to $800,000 – 23.3%</li>
<li>$200,000 to $400,000 – 19.8% 
</li>
</ul>
Hobart’s top price brackets
<ul>
<li>$200,000 to $400,000 – 54.3%</li>
<li>$400,000 to $600,000 – 23.3%</li>
<li>$600,000 to $800,000 – 5.8%</li>
</ul>
Putting the capitals together, estate agent John McGrath noted that 9.2% of homes were sold between $1 million and $2 million compared to just 2.5% some 10 years ago. 
2% sold for $2 million-plus, which is the greatest proportion on record. 10 years ago it was 0.7%.
"If I told you there were more homes sold between $200,000-$400,000 in Sydney than $800,000-$1 million, would you believe me?," John McGrath <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/most-popular-price-points/" target="_blank">blogged on Switzer</a>.
"I thought this particular stat was interesting given how much we hear about Sydney being ‘unaffordable’ these days. 
"It’s certainly fair to say Sydney is expensive, but by no means is it impossible – as this data clearly proves.
"Many buyers today can still afford a range of suburbs, but the closer they get to the city and lifestyle locations such as beachside areas, the more likely they are to have to compromise on property types.
"This is why RP Data has measured the most popular price brackets for houses, townhouses and apartments combined.
"These days a lot more buyers are comparing apartment and house prices when deciding where to buy.
"If the location is more important than having a house, plenty of buyers will settle for an apartment."
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jchancellor-FAypfDUnLy

At what price are the bulk of sales taking place? John McGrath's capital city sweetspots

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GUEST OBSERVATION
Buying a property is one of the most important financial decisions you will ever make.
It's easy to get swept up in emotions when you think you've found "the one", especially when you're a first home buyer or you've been searching for ages. But it's very important to carefully consider the legal and financial implications before you sign a contract. Thorough research could save you a fortune and ensure you avoid a serious mistake.
From the hundreds of real estate contracts I've read during my career, below are my top five legal tips to keep in mind when you're considering a purchase:
<ol start="1">
<li>
Carefully inspect the property and check the condition of everything before you sign the contract. A standard clause in the contract makes the vendor (or seller) only responsible for delivering the property to you at settlement in the condition it was on the day of sale, fair wear and tear excepted. So if the central heating wasn't working on the day you signed the contract, bad luck. Turning on all appliances and checking all light fittings beforehand will give you an accurate picture of the state of the property; you may be able to negotiate on price if something like an oven or garage door isn't working. 
</li>
<li>
Understand the zoning of the land and how it may affect your use of the property. Beware of flood paths or special building overlays, especially if there is a basement car park involved. It is prudent not to purchase a lower basement level car park in a flood zone (keep in mind that some apartments are sold with particular car parks allocated). The zoning of the land can prevent commercial or business activities being conducted. If you'd like to run a business from home, whether it's a professional service, childcare, wholesaling or anything else, always check if the planning scheme will allow it. You may require a permit or your proposed use may even be prohibited. Check with the local council if you're in any doubt. 
</li>
<li>
Beware of water easements. It is illegal to build on top of water drains and sewerage pipes without the permission of the water company. Look carefully at the water easement plan in the contract. You will not be allowed to build anything, even a deck, on top of a water easement and even if permission is granted, the water company can destroy any structure if they need access - and you are solely responsible for the cost. Look out for garages, carports and decks on the property: could they be built over water easements? If so, has permission been given? If not, the Council and water company could come knocking in the future and you'll be responsible, not the previous owner, unless you negotiate the wording of the contract. 
</li>
<li>
Don't be seduced by display units and rent guarantees. Spacious and well-lit display units are not a representation of your finished off-the-plan apartment. The fine print of the contract will make it very clear that you cannot rely on what you see in a display unit. Rather, carefully check the plans for your chosen apartment that are included in the contract. Use a tape measure to actually measure out the size of the apartment. How does it compare to your current home? What is the orientation of the apartment? Will it have enough natural light? North-facing properties are always preferable. And as for rent guarantees: these often aren't worth the paper they're written on. These guarantees are often provided by companies that are financially worthless or are wound up and closed by the time any purchaser may want to enforce a guarantee. Instead, do your homework about the rental market in the area. What rent could you achieve if all or most of the apartments in the building were all released onto the rental market at the same time? Always budget for conservative rent receipts. 
</li>
<li>
Don't rush, get advice and read the fine print. Resist any pressure from the real estate agent to quickly sign the contract. Never sign on the spot without getting advice – if possible, legal advice but at the very least advice from someone experienced in the property market. Remember that real estate agents are looking out for the vendor's best interests, not yours. If it's a private sale, take the contract home and 'sleep on it'. If there's an upcoming auction, request the contract at least a week in advance, to give you enough time to properly consider everything. Speak to your accountant and lender: can you afford it? Are there tax implications? Read the fine print and never assume that it's straight-forward. One hour of your life spent checking or consulting with a lawyer may save you an enormous amount of grief and money. Remember, buying a property is a life-changing decision.</li>
</ol>
Note: the above is general information and should not be considered as legal advice.
Kate Ashmor is president of <a href="https://www.australianwomenlawyers.com.au/" target="_blank">Australian Women Lawyers</a> (AWL) and a commercial lawyer for the Victorian government.
This article originally appeared on <a href="https://www.womensagenda.com.au/personal-freedom/investment/top-five-legal-tips-for-buying-property/201407234364#.U9GUM-OSy0d">Women’s Agenda</a>. 
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kashmor-ge4wELXMKp

Top five legal tips for buying property

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About 18 months ago I started including Wollongong in some of the Hotspotting reports which identify markets expected to out-perform in the future.
This was at a time when the <a href="/news">Illawarra</a> was generally expected to be a non-performer. Indeed, some had predicted recession and a collapse in the property market there, because of recent economic bad news.
But <a href="/news">Wollongong</a> is a quality regional centre and I’ve been charting real estate markets long enough to know that good regional centres always fight back.
<a href="/news">Newcastle </a>did so after BHP shut down operations in the 1990s, reinventing itself and coming back stronger than before. I expected Wollongong to do likewise (just as I am confident <a href="/news">Geelong</a> will survive industry shutdowns and thrive in the future).
<a href="/expert-insights/investing/too-late-to-buy-sydney-try-wollongong-or-dubbo-tamworth-and-gunnedah-and-newcastle">Earlier this year I wrote</a> on Property Observer: “Wollongong has defied predictions that it would lapse into recession following economic reversals such as downsizing by Bluescope Steel. One hysterical headline suggested property values would fall 50%.
“But the Illawarra is the latest example of a regional community fighting back from adverse circumstances. A lot of infrastructure and property development money is pumping into Wollongong and real estate markets are rising.”
<blockquote>
Much of Wollongong’s improvement is due to its inherent qualities as a regional centre and the extent of new investment there.
</blockquote>
Now we have seen price data published which confirms that Wollongong has defied the dire forecasts made a couple of years ago.
Australian Property Monitors’ quarterly housing report credits Wollongong with a 7.5% rise in its median house price in the June quarter and an annual rise of 14%. The median has risen from $439,000 to $500,000 in 12 months.
Nearby markets also delivered solid annual increases, including <a href="/news">Shellharbour</a> (7%) and <a href="/news">Kiama</a> (12%).
I attribute part of the increases to a ripple effect from Sydney. As expected, regional centres close to the state capital have caught the Sydney wave.
But much of Wollongong’s improvement is due to its inherent qualities as a regional centre and the extent of new investment there.
The place has a lot going for it. There’s a substantial and growing population (the Illawarra region has around 275,000 residents), the proximity to Sydney, the seaside location, the strength of spending on infrastructure (including $1 billion on hospital facilities and $500 million at Wollongong University), and the significant investment in new property projects by national development entities like Lend Lease and Australand.
Australand’s Shell Cove is a $1.5 billion project. The total value of all the infrastructure and property developments on our lists for Wollongong is almost $5 billion.
Nothing drives property values like infrastructure spending, which generates economic activity, jobs growth and ultimately demand for accommodation.
The Wollongong has that factor working for it on overdrive.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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terryryder-YECXbqmri2

Nothing drives property values like infrastructure spending and Wollongong is in overdrive

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GUEST OBSERVATION
Market outlook: neutral with negative bias.
<ul>
<li>Renting is the more attractive accommodation option over buying (as at June 2014).</li>
<li>Purchase affordability is at a historically high level and steady (as at June 2014).</li>
<li>Confidence in the economy continues to deteriorate (as at July 2014).</li>
<li>Housing credit impulse is still growing, indicating continued demand for residential real estate (as at June 2014).</li>
<li>Actual prices are above what could be expected based on housing credit growth, although only marginally but the gap is not narrowing (as at May 2014).</li>
</ul>
National Real Estate Price Forecast
Pessimism about the state of the economy is threatening further price growth, despite purchase affordability remaining at a historically high level. Subdued growth in the Property Price Gauge in the last few months is the first tangible sign of market weakness.
If this situation prolongs, it has the potential to start impacting on demand and actual prices. We can therefore expect a period of slow growth, or even stabilisation, in property prices in the September 2014 quarter.
The current price level is well supported and there is still no indication that the prices have peaked in the current cycle.
Detailed Analysis
#1 optimal accommodation choice: renting more attractive than buying
 <img src="/images/2014/07/29/BRI_July2014.png" alt="">
The Buy-Rent Indicator (BRI) identifies how cost of buying is changing in relation to cost of renting.
BRI bottomed in June 2012 (indicating the lowest point in the current cycle) and it has been rising consistently since then. The indicator crossed the equilibrium line in March 2014 and continues on an upward trajectory.
This indicator is constructed based on the simple concept that renting and buying are substitute accommodation options, hence the optimal choice depends on which accommodation cost is rising in relation to the other. The practical use of this indicator is for identifying market cycles and for timing purchase and sale decisions.
The crossing of the indicator from buy to rent zone gives a signal that buying costs are starting to rise faster than rental costs.
In a market where property prices are rising, this marks the point in time when opportunities to purchase a property at attractive prices are limited.
For those intending to sell in the current cycle, it marks a time to start preparing for the sale - the optimal point for selling the property will be when the indicator peaks, which should coincide with a peak in property prices.
If prices continue to advance, buying costs will rise further in relation to rental costs and the value of the indicator will keep growing. However, stagnant or declining prices may flatten that growth.
#2 purchase affordability: at a historically high level, unchanged from last month 
<img src="/images/2014/07/29/PAI_July2014.png" alt=""> 
The Purchase Affordability Indicator (PAI) compares changes in the annual cost of buying to changes in average full time adult income, therefore it identifies how purchase affordability has changed over time.
PAI is at historically high level and June 2014 estimated value has not change in relation to the previous month reading.
Relative to incomes of Australians working full time, property prices are still very affordable. Since purchase affordability is not declining at the moment, the overall support for the current price level appears to be strong. If Australia were to experience a case a mild economic turbulence, property prices would be unlikely to fall by far, if at all.
Prices have still a lot of room to move before they can be considered unaffordable despite some prominent commentators declaring that Australian property market is in a bubble.
#3 perceptions about economy: negative
 <img src="/images/2014/07/29/EWI_July2014.png" alt="">
The Economic Wellbeing Index (EWI) is designed to reflect general perceptions of Australians about the current economic conditions.
The EWI is falling since June 2013. June 2014 estimate is in the negative territory and continues to fall. A more volatile raw measure is up for the second month in the row but by a very small margin.
The key premise behind this indicator is that people are generally less inclined to make big purchases when they are worried about the state of the economy.
Actual prices are not expected to advance strongly if there is no substantial rebound in the indicator.
If this situation continues, it is also possible that growing pessimism, as implied by this indicator, may soon start to affect demand and prices of Australian properties.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
#4 demand: still strong and well underpinned with housing credit growth
<img src="/images/2014/07/29/PHCI_July2014.png" alt="">
The Private Housing Credit Impulse (PHCI) provides an indication of the level of buyer activity in the residential property market in Australia, hence it reflects underlying demand for properties.
The June 2014 PHCI estimate is positive and the value of the indicator is at its highest since December 2011.
The June value of PHCI is subject to revision. Although the current value is revised down from previous month estimate it would take a significant decline in growth of housing credit to reverse the current trend.
The practical use of this indicator is to provide early warning about impending changes in housing credit uptake, and hence, changes in the underlying demand for residential property.
A positive and rising value of the indicator reflects continued strong demand for residential property. Consequently, market weakness observed on RP Data daily property price index in May and early June was only short lived and prices rebounded strongly in recent weeks. This was the most probable medium term outcome as outlined in the last month’s report.
#5 property price expectation: growth to slow or possibly even flatten 
<img src="/images/2014/07/29/PPG_July2014.png" alt="">
The Property Prices Gauge (PPG) is a proxy of a property price index. It becomes a leading indicator when combined with House Price Index (HPI).
PPG recorded almost no change in May 2014. Actual prices (March 2014 House Price Index) remain above of what could be expected based on housing credit growth and the gap between PPG and HPI is not narrowing.
Although the current price level appears to be well supported, a flattening PPG points to softer property prices in the coming months. In other words, unless there is a rebound in PPG growth in June and July, actual prices, as measured by the ABS’s House Price Index, are expected to record only minimal growth in June quarter and remain flat in September quarter.
Caveat
The information is provided in good faith and does not constitute financial advice. Use with caution and at own risk.
Background information
For more extended description of individual measures and how to apply this information please refer to the first report in this series: <a href="/expert-insights/buying/buying-more-advantageous-than-renting-yet-change-imminent-april-2014-state-of-the-market-analysis">State of the Property Market, April 2014</a>. 
Arek Drozda is an independent property market analyst.
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adrozda-Nq9GwoWWBW

Pessimism threatening further price growth: July state of the market analysis

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Sydney’s mid-winter auction market retained its recently renewed energy at the weekend recording yet another preliminary strong result around 77%, according to Australian Property Monitors.
The 77.1% clearance rate recorded was the third consecutive 77% plus result following a five week period of waning rates.  
"A moderation of unrealistic price expectations from vendors may be a contributing factor to rising clearance rates over recent weekends," the APM senior economist Dr Andrew Wilson suggested.
Some 506 homes were scheduled for auction at the weekend in Sydney which was well up on the prior weekend’s 404.
It was some 174 more or 52% higher than the 335 homes auctioned over the same weekend last year.
"Auction numbers will continue to gradually rise over coming weekends from its July lows as the market turns from its mid-winter trough and heads towards the spring selling season," he said.
The inner west recorded the highest clearance rate at the weekend of all the suburban regions with an exceptional 90.7% result.
"Next best was the lower north with 88.9% closely followed by the city and east with 88.7%, the upper north with 87.2% and the south with 83.1%.
"The strong upper north shore result follows last weekend’s relatively low result and reflects continuing strong underlying demand for property in that region."
The most expensive property reported sold at auction at the weekend was the five bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-croydon+park-117338283" target="_blank">23 Beaufort Street, Croydon Park</a> (pictured above) sold for $2,190,000 by Elders Inner West-Enfield agent Sebastian Bonaccorso. It came with lift servicing three levels including its basement garaging for eight cars.
Auctioneer at Property Auction Services Rocky Bartolotto told Property Observer that buyer numbers for the weekend across his Sydney auctions dropped by one buyer week to week, however the percentage of registered bidders who actually make a bid at the auction was still considerably up.
 "This traditionally is around 50% however at the moment is at approximately 70%," he said.
He noted that his auctioneers had detected a "handful of owners" had reserve prices set well above the agent opinion and what the buyer feedback has been throughout the marketing campaign. 
"These properties seemed to have lower registered bidders to bid on auction day. 
"In some cases this was evident with reserve prices set $100,000 over agent/buyer indication levels.
"It’s important for vendors that the feedback coming from agent/buyer is strongly considered for best outcomes."
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Occasional unrealistic vendor expectations hover around Sydney auctions: APM

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On the debut of The Block Glasshouse, host Scott Cam described the series' Prahran office block as "the worst house on the best street".
While that would be a good position to be in for most renovators, the five teams will be in a tough spot this season.
With 3,300 square metres of floor space over five floors, the building is almost double the size of Dux House, the site of The Block Fans v Faves.
The television show is milking the offbeat location for all it's worth, with contestants entering the building to meet Scott Cam, apparently believing the site to be Channel 9's headquarters. While the ruse was less than convincing, given the location was known by the media fairly early on, the show's set designers were certainly earning their keep, dressing the space as a sad but still functioning office.
After the true nature of their location was revealed, contestants went about choosing their respective apartments at random.
Queensland couple Karlene and Michael, a communications manager and construction manager, picked Apartment 1. Though stuck with a lesser position, with a southerly aspect, the apartment has one of the largest terraces. Their pick has a total of 236.8 square metres of floor space.
Chris and Jenna have Apartment 2, the only apartment of the five with no external windows. To make up for the significant setback, the apartment is the biggest on The Block, with 277 square metres of floor space. Theirs is also the only apartment with a rooftop terrace, a secret Jenna spilled but quickly downplayed.
Karsten and Maxine of Newcastle, who met online and are now engaged, have put their own renovations on hold to take on The Block Glasshouse. They picked Apartment 3, the third largest in the building with 237 square metres of floor space. The apartment has a northwesterly aspect, with city views.
Tasmanian brothers Simon and Shannon have Apartment 4, the second largest of the bunch. Located on the front right side of the building, looking over High Street, the apartment has 249 square metres of floor space.
Former AFL footballer Darren and his wife Deanne picked Apartment 5, which has the most desirable aspect, facing north. Unfortunately, it's the smallest apartment of the bunch, with just 186.7 square metres of space.
Each apartment will also have 70 square metres of private storage and two car spaces.
However, armed with just floor plans with no orientation details, the contestants struggled to figure out where their apartments would sit in the space. They also were treated to junk and debris all across the top level of the building, and rippling metal sheets on the roof coupled with strong winds kept them awake in their new accommodation in the office space downstairs.
With free cars, vouchers to sponsor-suppliers and $100,000 in their bank accounts, each team is tasked with renovating their apartment, to sell at the end of the season. Their first task was to find a builder, with each team but Chris and Jenna somehow finding a builder within a single day.
The first episode of The Block Glasshouse <a href="/expert-insights/building/kevins-devon-snail-shell-house-sneaks-up-behind-the-block-glasshouse-in-ratings">attracted 1.37 million viewers</a>  - however, much as been made of Channel 9's "roadblocking" strategy, with the network airing the premier across its flagship 9 platform, Gem and GO! simultaneously, despite previously advertising different shows for that slot on GO! and Gem.
Picture courtesy of Channel 9.
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Contestants in for a challenge on The Block Glasshouse 

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The weekend’s hot clearance rates have kept the property market unseasonably warm for winter, particularly in the big auction cities of Sydney and Melbourne.
RP Data’s preliminary figures show Sydney with a clearance rate of 75.9% for 657 <a href="https://www.smartcompany.com.au/finance/42971-13-tips-for-buying-at-auction">auctions</a>, the highest in the city for 17 weeks.
Melbourne notched a 66.1% clearance rate with 722 homes going under the hammer, while Adelaide sat at a healthy 62.8% off the back of 68 auctions.
The median price for house in Sydney was $635,000, while it was just $100,000 less for a unit. Melbourne’s house/units medians were similarly close, at $478,000 and $420,000 respectively.
Brisbane’s auction market continued its lukewarm performance, with 44.2% of its 159 auctions sold on the auction block.
The national clearance rate dipped slightly to 67.3% from 69% last week.
RP Data's senior research analyst Cameron Kusher told SmartCompany the results were strong for this time of year.
He said this was particularly evident in the number of auctions taking place throughout the traditionally quiet winter period.
“It shows that, particularly in Sydney and Melbourne, there is still a confidence in the market. People are still willing to sell their homes by auction,” says Kusher.
RP Data predicts auction volumes in August and September to be around 10-20% higher than last year.
While Kusher predicts similar market conditions for this spring as last year, he says the next few months will be the real test as buyers keep an eye on interest rates.
“It will be interesting to see how long the market can sustain this,” says Kusher. “At some point, the market will have to cool.”
Kusher says the growth phase has now been sustained for two years, traditionally the length of a property boom.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
 
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krobb-aCrRNnPq6D

Strong clearance rates keep auction market warm through winter

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While the real estate headlines are excitedly focusing on booming Sydney property prices let's instead take a look at what is happening to rents across Australia.
It is rare to see rents and dwelling prices firing at the same time or rising in concert strongly, and sure enough the June quarter inflation (CPI) data released this week revealed the trend in rental growth to be easing back across every Australian capital city.
The long run inflation data shows how on a national basis rents have never fallen in Australia.
Rents did fall slightly for several consecutive quarters in Perth (cumulatively by 8%) and Melbourne (3%) following the onset of the early 1990s recession.
And around the turn of the century rents fell by 8% over a period of more than a year in volatile Darwin, before then booming outrageously from 2005 to 2010 to levels that could not have been predicted by even the most wildly bullish of analysts.
The above instances aside, nationally rents have risen relentlessly for more than 40 years:
<img src="https://4.bp.blogspot.com/-8L4UHh_iLeo/U9ClZGroG4I/AAAAAAAAOuU/BjmW1SsfmXc/s1600/CPIRENT.jpg"> 
Zooming in the chart to cover the last five years in the major capital cities shows that rental growth is presently strongest in Sydney (+3.0% y/y) and Perth (+2.9%), but both cities have eased back after a strong half decade:
<img src="https://4.bp.blogspot.com/-l4t5KxDGsn4/U9ClLXumksI/AAAAAAAAOuE/nlWtZ51heSc/s1600/CPI+RENT+2.jpg">  
Rental growth is now quite weak in Melbourne (+1.7%) as an oversupply of certain property types begins to bite. 
The fundamentals of the Melbourne property market now appear relatively soft, but the market environment needs a trigger to expose them such as rising unemployment or higher interest rates.
According to the CPI data, Brisbane and Adelaide have recorded year-on-year rental growth of +2.2% and +2.9% respectively.
However, it is abundantly clear from the above chart that the trend is now down in all cases.
For the purposes of completeness, below is what has been happening of late in the other capital cities:
 <img src="https://1.bp.blogspot.com/-g9q-Xnqdz8A/U9ClLYQC5gI/AAAAAAAAOuI/ne0x87Ij72k/s1600/CPI+RENT+3.jpg">
Darwin continues to march to its own drum to some extent with some exceptionally strong rental growth over the past ten years due to its incredibly tight real estate market.
As at June 2014 Darwin's rents are still tracking at +4.8% year on year, although even in the Top End the trend is quite clearly now down.
Rental growth has been weak and has hit a prolonged plateau in Hobart (+1.2%), while Canberra is the most troubled of Australia's capital city housing markets.
With the labour market in mild disarray rents are sliding into negative territory in Canberra following on from negative house price growth over the past 12 months.
The Australian Capital Territory is the one location is been far better to be a tenant than a landlord over the last year.
Summary
In summary, rental growth is easing back or has eased back across all eight capital cities, but the compensating good news for property owners is that with fixed mortgage rates being slashed independently by the major banks, house prices are rising practically everywhere.
In Sydney's case, the market continues to boom, with house prices up by 17% in the last year and more than 25% since the market's most recent trough in 2012. 
Spring will soon enough be upon us agai,n so it will be interesting to see how much of that price momentum can be maintained into the traditionally more active time of year.
Renting v buying in Sydney on the next page. Please click below.
<hr class="system-pagebreak">
Robust inner Sydney rental growth
One of the factors which can begin to put downward pressure on dwelling prices is when renting property becomes comparatively more attractive than buying it.
A few commentators dropped the ball last week when the Reserve Bank released a conveniently-timed research paper discussing just that point: whether folk may sometimes be better to rent property than buy it in the absence of accelerating dwelling price growth.
In doing so pundits perhaps missed the underlying point that the Reserve Banks is likely attempting to jawbone some speculative heat out of the market ahead of a now likely further interest rate cut.
Futures markets are seeing a rate cut to just 2.25% as increasingly likely, and, frankly, so am I.
Rents and prices rising 
The stark reality for Sydneysiders over the past half decade is that life has been easier for property owners because while dwelling prices in the inner suburbs have been rising strongly, so too have rents.
<a href="https://petewargent.blogspot.co.uk/2014/05/rba-on-housing" target="_blank">As the RBA itself noted recently</a>, the inner and middle ring suburbs are adding jobs and are seeing population growth rates well in excess of the state average...and New South Wales is also now adding the greatest number of heads per annum, notching up a massive +110,300 in 2013.
Over the past year, while pockets always exist where rents have overshot and are now falling back into line, rents in many inner suburb locations are continuing to rise well ahead of income growth and the inflation rate.
This is true both for inner Sydney units and apartments:
<img src="https://2.bp.blogspot.com/-P2FeSKAIH0k/U8zAFw1UnDI/AAAAAAAAOn8/mId44SZwO6s/s1600/SYDUNITS.jpg">
...and for inner Sydney houses:
<img src="https://1.bp.blogspot.com/-BLz0c9a4sqI/U8y_4FmjpoI/AAAAAAAAOn0/sCLEZMAzCHA/s1600/SYDHOUSES.jpg">
The rental growth, like price growth, has largely been focused on suburbs closer to the Central Business District.
The RBA's research showed that a near identical trend has played out across every capital city over the past decade.
Renting has not become comparatively more attractive than owning over the past five years or so as borrowing rates continue to decline, dwelling prices are rising and so too are median rents.
In the inner suburbs of Sydney in particular, there is continuing upwards pressure on the housing market.
And, for the reasons noted by the Reserve Bank in their detailed research, this is set to continue due to dramatic demographic shifts towards inner city living.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
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pwargent-M4siyDbqQY

Rental growth easing but house prices are rising practically everywhere

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The latest Commonwealth Bank/RP Data Home Buyers Index (HBI) suggests the national property market conditions have moved to a buyer's market in March 2014 against the balanced market in December 2013.
But the most affordable localities remain regional areas as no capital cities made the top 10 buyer's markets. There are three capital cities, Sydney, Melbourne and Canberra, in the top seller's markets.
The top five best buyer's markets in Australia:
<ul>
<li>Wide Bay-Burnett, Qld;</li>
<li>Mersey-Lyell, Tas;</li>
<li>Far West, NSW;</li>
<li>West Moreton, Qld;</li>
<li>Central, WA.</li>
</ul>
The top five best seller's markets in Australia:
<ul>
<li>Central Highlands, Vic;</li>
<li>Sydney, NSW;</li>
<li>Melbourne, Vic;</li>
<li>Canberra, ACT;</li>
<li>Loddon, Vic.</li>
</ul>
Queensland’s Wide Bay region has regularly recorded the largest proportion of loss making resales, with 30.6% of all March 2014 quarter re-sales transacting at a price lower than what the home was purchased.
The weakness in these two regions is mostly reflective of the conditions across the lifestyle markets where the correction in home values has been more significant, Tim Lawless, national research director at RP Data, has previously advised.
"Prospective home buyers should consider the dramatically different conditions between metropolitan and regional areas," says Clive van Horen, general manager - home loans, Commonwealth Bank.
"The latest HBI shows while the metropolitan areas of Queensland and Tasmania provide good opportunities to negotiate on the sale price of a property, home buyers in the south eastern states should be cautious with their budgets and ensure they don't pay more than the true-market value when purchasing a property," he says.
He stressed the importance of all home buyers comprehensively researching the market to understand the conditions in their area and state. 
The latest HBI report noted mixed market conditions across the states and territories.
Individual state and territory market conditions on the next page. Please click below.
<hr class="system-pagebreak">
State/Territory: Market Conditions:
<ul>
<li>
New South Wales Balanced market - conditions stayed virtually unchanged in March 2014 as New South Wales remains a balanced market, while the Sydney market continues to strongly favour sellers. 
</li>
<li>
Victoria Balanced market - conditions in Melbourne have shifted slightly in favour of sellers in March 2014, however, conditions across the rest of the state are more balanced between buyers and sellers. 
</li>
<li>
Queensland Buyer's market - buyers still firmly have the upper hand in Queensland with Brisbane offering solid opportunities with the coastal region of Wide Bay Burnett, becoming the top buyer's market in the country in March 2014. 
</li>
<li>
South Australia Balanced market - state and capital city market conditions continue to be balanced in March 2014, with Adelaide showing a fairly equal level of power between both buyers and sellers. 
</li>
<li>
Western Australia Balanced market - while conditions in Western Australia shifted from a buyer's market in December 2013 to a balanced market in March 2014, the Perth housing market continues to remain balanced. 
</li>
<li>
Tasmania Extreme buyer's market - conditions remain unchanged in March 2014, with the state continuing to be more favourable to buyers than any other state or territory. 
</li>
<li>
Northern Territory Buyer's market - although market conditions were balanced in December 2013, in March 2014 the property market moved in favour of buyers. 
</li>
<li>
Australian Capital Territory Seller's market - with the state capital Canberra remaining one of the top five seller's markets in the country, conditions shifted from a balanced market in December 2013 to favour sellers in March 2014.
</li>
</ul>
Between December 2013 and March 2014, market conditions have remained consistent across the capital cities with the exception of Canberra, which has surprisingly moved from a balanced market to a seller's market.
The Central Highlands in Victoria also moved from the fourth best seller's market previously to the top seller's market in March 2014.
The index suggests the best buying opportunities are in regional areas of Tasmania and Queensland.
"By and large the best opportunities for home buyers are in regional areas, with particularly favourable conditions in areas outside of the metropolitan hubs of Queensland, Tasmania, South Australia and West Australia," said Lawless.
Image of Bundaberg courtesy of Wikimedia Commons. 
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