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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The subtly marketed Sydney Olympic Park Opal Tower has selected Bates Smart to undertake the architectural design.
The 30-level apartment <a href="https://www.propertyobserver.com.au/Opaltower.com.au" target="_blank">Opal Tower</a> from developer Ecove will have green walls and elevated communal courtyards every five levels.
It is the fourth residential building from Ecove and will be the most prominent of the Australia Avenue set.
 Bates Smart had previously designed stage two and three – Australia Towers II and One Australia Avenue, which are scheduled for completion in late-2014 and mid-2015 respectively.
Australia Avenue II is 25 storeys, while One Australia Avenue is 30 storeys. All three of the towers have so far sold out, with 216, 287 and 320 apartments for the three stages.
Opal Tower will bring large four-bedroom apartments to market of around 160 square metres internally, and on the upper levels with views to Homebush Bay, Sydney CBD and Bicentennial Park.
Marketing director of Ecove, Sue Ballesty, said that they are an alternative to a family home and that these are something in retrospect they would have built previously.
“We will be one of the few apartment developers in Sydney catering for families,” said Ballesty.
First tower, Australia Towers, currently has more than 600 residents since its 2012 completion.
“The influx of residents has made Sydney Olympic Park into a fully functioning suburb,” she said.
“There is a real sense of community here, and residents appreciate the benefits of living in the sporting and entertainment heart of Sydney and having 430 hectares of parklands as their backyards.”
Marketing isn’t <a href="/expert-insights/buying/subtle-marketing-but-opal-tower-not-expected-to-see-bad-luck">expected to start until later this year</a>.
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jduke-EHk3XBmHkn

Sydney Olympic Park’s Opal Tower selects architect

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GUEST OBSERVATION
On Saturday, I witnessed two auctions that were marketed in two different ways and which resulted in very different outcomes.
The first property was advertised with a fairly typical auction marketing campaign which included the usual underquoting. The price guide that was provided throughout the marketing campaign was $1,050,000. At auction the bidding ran out of steam short of the reserve. The agent came and told me he needed more money to get it on the market as the reserve was $1.25 million. I said, "best of luck as you won't be getting that out of me".  
Frustrated the agent went inside to talk to the vendor again before coming back outside to tell me that he had convinced the vendor to reduce the reserve to $1,225,000.  He then told the auctioneer and it was called on the market at $1,225,000. No further bids were made and it sold for $25,000 under the vendor’s reserve to us.  
Anyone who did detailed research and looked at the comparables would know that the property was worth $1,250,000 to $1,275,000 but the underquoting attracted people with a budget closer to the guide of $1.05 million rather than those with a budget of $1.25 million or more. More than likely many of those people with a budget around the $1.25 million mark were attending auctions that had price guides around that point but reserves and values that were maybe closer to the $1.45 million mark?   
The fact is my clients loved the property so much that they gave me a budget of $1,330,000 to spend if needed to secure the property. Yes we purchased the property $105,000 below what my clients were prepared to pay for it which they are very happy about. However they are even happier we purchased it for $50,000 below what the comparables indicated the property was worth up to. 
In comparison at the second property auction I attended the vendor had decided to be transparent with the market. Whether he decided to do this of his own accord or read about my petition to make it mandatory to publish reserves and decided to take the idea on board, I don’t know.  What I do know is that he was transparent with buyers and attracted bidders who could actually afford the price he wanted for the property. He set and published his reserve at $570,000 and <a href="/expert-insights/buying/a-7-5-premium-above-disclosed-reserve-at-bexley-auction-experiment">the property sold for $613,000, some $43,000 over the reserve</a>.
The buyer was ushered into the house to sign the contract and so I spoke to the under bidder. I asked her if the publishing of the reserve price influenced her decision to bid on the property.  She said she would not have even attended the auction if the reserve price had not been disclosed as she was ‘fed up’ with attending auctions that had reserves set well over the price guide provided by agents.
The bottom line here is that transparency won the day.
Let’s hope it catches on for not only all the vendors’ sake but for all the buyers who keep wasting money and time attending auctions every week where the reserve is set in excess of the guide when in fact they should be one in the same.  
If you think my idea of publishing reserves prior to auction is a good move then simply <a href="https://www.change.org/en-AU/petitions/the-honourable-matthew-mason-cox-mlc-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">sign my petition</a> which is calling on the NSW state government to make it mandatory for all property auctions to have the reserve price advertised seven days ahead of a scheduled auction. 
Feel free to make your comments as to why you signed the petition in the comments box.
Patrick Bright is the founder of Sydney-based buyer’s agency <a href="https://%20www.epspropertysearch.com.au/" target="_blank" rel="nofollow">EPS Property Search</a>.
Patrick is the author of four best-selling real estate books known as “The Insider’s Guide to Buying Real Estate Series”.
<a href="https://www.change.org/en-AU/petitions/the-honourable-matthew-mason-cox-mlc-nsw-government-make-it-compulsory-to-advertise-auction-reserve-prices-to-stamp-out-underquoting-and-dummy-bidding" target="_blank">Visit change.org to sign the petition</a> calling on the NSW state government to make it mandatory for all property auctions.
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pbright-aNtgvRfvJN

No more excuses: Publishing the reserve price prior to auction works

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The Pace Development Group has secured the Smith Family headquarters in Collingwood.
The prominent 1,139-square-metre site, will now get an apartment complex, Nina, named after the Nina Proudman character in Channel 10 series Offspring, which is filmed around Collingwood.
Pace directors Shane Wilkinson and Cameron Yates, who presumably are fans of the Asher Keddie-played role, expect to start off the market marketing the apartments next year.
The Smith Family bought the Collingwood building 15 years ago with plans to now relocate to smaller, leased premises and use money from the sale of 73-77 Wellington Street for statewide education programs.
The building was built in the 1970s so showing its age and is no longer appropriate to The Smith Family’s needs.
The Smith Family’s Victorian general manager, Anton Leschen, said the sale reflected the charity’s desire to make sure its resources weren’t tied up unnecessarily.
The site is bound by Cambridge, Langridge and Wellington streets.
<a href="https://www.realcommercial.com.au/property-land+development-vic-collingwood-501171563" target="_blank">It sold through CBRE for $8.8 million earlier this month</a>, so apartment design plans are yet to become available.
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jchancellor-FAypfDUnLy

Offspring's Nina set to tower in Collingwood

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Yabba dabba don't. The primitive Sydney outskirts offering - an open air stone cottage on 16 hectares at Glenorie - has been withdrawn from sale.
Buyer's baulked at the asking price, so the owner has decided to keep their long-time Flintstonesesque offering.
Under its thatched roof, there is shelter with no floor, door or windows. Some stone lounges and benches, but no bathroom. The kitchen comes simply with fireplace.
Its listing agent Ian Campbell from Ray White Elizabeth Bay described the Smallwood Road property as just one step up from camping.
He took over the listing which had begun in May last year with $668,000 hopes.
Offers above $500,000 were being initially sought by Campbell, then more recently adjusted to $450,000 plus, until its recent withdrawal.
Purchased more than 30 years ago by the Moriceau family, 411-469 Smallwood Road, Glenorie, served as a weekend escape.
It last traded in 1977 at $13,000.
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No sale of Flintstones-style open air Glenorie stone cottage

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Over the weekend I attended the Sydney Home Buyer and Property Investor Show, at Sydney’s Olympic Park. Having visited the show every year since 2011, I was on the lookout for any new trends and shifts in booth exhibitor types.
Below are some observations I made about the 2014 show in comparison to recent years. Of course, the types of companies that were exhibiting may not be reflective of overall market demands and shifts. However, it does offer an insight into to the changes year on year and this variety of show booths helps as a measuring stick of the trends emerging in the Sydney/NSW markets, from both a home buyer and residential property investor perspective.
 
<ol>
<li>
Lender exhibitors shift focus Every year, the major Tier #1 and Tier #2 lenders exhibit and 2014 was no exception. What I did find interesting this year was the promotional shift towards ‘service’ loan product features over others like rate and inclusions/features. In a low-rate environment this makes sense for lenders as it may become hard to discern and differentiate mortgage products based on rate alone. 
</li>
<li>
Exhibitor stands providing bilingual signage is on the up This has been present for many years; with traditionally a number of developer and ‘off the plan’ sales stalls printing their signage and leaflets/info packs in both English and <a href="https://www.translatorscafe.com/cafe/article84.htm" target="_blank">Simplified Chinese</a>. However this year, in my observation (and I wasn’t counting precisely), the uplift of bi-lingual signage stands was substantial. Almost every developer and/or property sales stall was bilingual, with some of them even being Simplified Chinese-only. Also, several of the major and minor lenders featured bilingual signage. 
</li>
<li>
More focus on ‘first timer’ small scale developments Peter Koulizos gave a lecture on small-scale developments 101, and it was easily one of the biggest crowd-drawers during the show. Small developments have been a minor focus of previous shows however there was a clear sustained interest in this topic during this show. Similarly, Cherie Barber’s Renovating For Profit show also drew large crowds, as they often do each year. Several magazines have given extra attention to small developments in the last six months and this could indicate a market shift towards development versus passive investment. 
</li>
<li>
Homes with attached granny flats and second dwellings at the back Detached granny flat companies have been consistently prominent in the last couple of years at the show, however this year there was a clear dominance of developers and builders offering home builds that come complete with an attached granny flat/second dwelling at the back of the property. Think of these as duplexes where the second dwelling is hidden away behind the first. The clear difference was that these properties, unlike duplexes, sit on one title, on one block. From an investor perspective this might be a little unappealing, however for home buyers/builders, this approving could offer a handy value-add. 
</li>
<li>
Off the plan apartments ever prominent Another observation consistent with previous years was the prominence of off-the-plan apartment developers selling their product. Many of these are in high density residential towers being built in most eastern seaboard capital cities around Australia. I did observe a number of international developers too; with offerings in Indonesia, Great Britain, and New Zealand. Interestingly, USA-based property spruikers were lower in volume this year compared to previous years. Below are some photos taken of some of the major speakers who presented during seminars and lectures on the day.
</li>
</ol>
 
<img class=" wp-image-698 aligncenter" src="https://www.propertycorrespondent.com.au/wp-content/uploads/2014/07/Sydney-Home-Show-2014-1.jpg" alt="Sydney Home Show 2014 - 1" width="576" height="346">
<img class="aligncenter wp-image-696" src="https://www.propertycorrespondent.com.au/wp-content/uploads/2014/07/Sydney-Home-Show-2014-4.jpg" alt="Sydney Home Show 2014 - 4" width="576" height="346">
<img class="aligncenter wp-image-695" src="https://www.propertycorrespondent.com.au/wp-content/uploads/2014/07/Sydney-Home-Show-2014-3.jpg" alt="Sydney Home Show 2014 - 3" width="576" height="346">
Photos: Author.
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cmcevoy-Go82SmsJA9

Five observations from the Sydney Home Buyer and Property Investor Show

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GUEST OBSERVATION
Are you a house buyer, a position buyer or a money buyer?
Knowing the answer to this question before you start searching will help when it comes to the pointy end buying your next home by providing you with clear direction as to why you are doing what you are doing and potentially help understand the risks versus the rewards.
A focused mind is far more likely to stick to the plan than one that is fraught with unanswered questions.
How do you know what sort of buyer you are?
Answering these questions may provide some insight:
<ul>
<li>Are you attracted to homes with a pretty façade?</li>
<li>Are you attracted to homes with the most current fixtures, fittings and colours?</li>
<li>Is it essential that you can walk to the station?</li>
<li>Do you mind if there are flats or townhouses in your street?</li>
<li>Are you looking for neighbours who are at a similar stage in life to you?</li>
<li>Do the <a class="st_tag internal_tag" href="https://marketnews.com.au/tag/children/" title="Posts tagged with Children" rel="tag">children</a> need to walk to school?</li>
<li>Do you only like <a class="st_tag internal_tag" href="https://marketnews.com.au/tag/new-homes/" title="Posts tagged with New Homes" rel="tag">new homes</a>?</li>
<li>Is it more important to be close to the shops on a busy road, or further away on a quiet road?</li>
</ul>
A house buyer is a buyer focused on what is inside the boundary of the <a class="st_tag internal_tag" href="https://marketnews.com.au/tag/property/" title="Posts tagged with Property" rel="tag">property</a>. The house, the flow, the condition, the style, the garden, the spaces etc.
A position buyer is a buyer who may be prepared to compromise on the house for a location that meets their needs – i.e. within 500 metres of the beach, shops, station, schools and transport.
A money buyer can be someone who only wants to buy something that is perceived to be cheap, however, it may also be someone who is focused on financial growth and outcomes.
Many buyers are a combination of all three, however, unless they have a lot of flexibility with their budget, for many the house may be more important than the position or vica versa.
It is important to clarify what type of buyer you are before you start searching as there may be risks emotionally and financially if you are unclear. You may find yourself purchasing a home that doesn’t work, potentially resulting in the need to move or renovate which can be both emotionally and financially challenging.
Buyers may also wish to consider what type of buyer they may be up against at auction. Understanding the competition and having an appropriate strategy planned before the day will help you achieve your goals.
If you are unprepared before you enter negotiations to buy your next home, it may stop you from doing what needs to be done to achieve your goals.
Kristen Hatt is principal buyer advocate at <a class="company-profile-public" href="https://au.linkedin.com/company/james-buyer-advocates?trk=ppro_cprof" target="_blank" style="line-height: 1.3em;">James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Weekly auction reports, advice and in-depth market analysis are available on James' website.
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khatt-NFnzuhDNoP

House, location or price: What's the most important factor for you?

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The latest price data tends to support my view that we have not had, to this point, a national property boom; and that we may be about to have one.
Australian Property Monitors’ price data for the June quarter suggests only Sydney has had exceptional pride growth, both for houses and for apartments. All other capital city markets have had growth ranging from negative to low to moderate.
The APM figures are generally (though not completely) in line with those published by RP Data.
Let’s look at houses first. In terms of annual growth to the end of June, both data sources report a capital city average a little above 10%. Economists have looked at that and perceived a national boom, which provides further evidence of how desperately dumb they all are, on property matters at least.
Looking city by city provides a different perspective. Only one city has achieved the city average growth rate. Sydney’s annual growth was 16% (RP Data) or 17% (APM). The property boom starts and ends there.
Both sources agree that Melbourne has grown close to 10%, Brisbane around 7% and Perth around 5%. Depending on which source you prefer, Adelaide has grown 3% or 5%, Hobart 2% or 6%, Darwin 5% or 1%, and Canberra has grown 3% or dropped slightly.
There’s a similar pattern with apartments. The capital city average is annual growth of 8.3% (APM) or 9.1% (RP Data). But the only boom figures have been in Sydney, up 12% or 13%.
Melbourne has risen 4% or 5%, Adelaide about 1% and Darwin 7% or 8%, while Perth is up 5% if you believe APM or more if you favour RP Data.
There’s conflict with the data on the other three capital cities: Brisbane is up 5% or down 1%, Canberra is up 4% or down 2%, and Hobart is up 7% or down 8% - for reasons I don’t understand, there is always this great contradiction about the Hobart unit market in the figures from the two competing sources.
The bottom line is that there is no boom in those figures, except for Sydney. There is evidence aplenty of solid markets in most cities, but the growth rates are low to moderate (and, in a few cases, negative). Keeping in mind that there were several years of falling values pre-2013, the data makes nonsense of the bubble arguments from those suffering from limelight deficit disorder.
So no national boom – but, if you look more closely, evidence that one may be brewing. Looking at APM’s annual growth figures for the cities, if you compare the 30 June 2014 numbers with those six months earlier, you find that the growth rates have improved in most cities.
Adelaide grew only 3% in 2013 but six months later the annual growth rate has doubled.  Brisbane’s growth rate is up from 5% to 7%. The annual growth rates for Sydney and Melbourne have both grown two percentage points. Hobart has improved from 5% to 6%. Perth, Darwin and Canberra have deteriorated, but the city average has risen from 9.8% to 10.9% in six months.
According to the APM figures, all capital cities except Darwin showed improvement in their median house prices in the June quarter.
Similarly, most of the cities delivered growth in their apartment markets in the June Quarter, with an average rise of 2.5%. Only Hobart and Canberra fell.
The overall picture, therefore, is growth rates that are moderate - but rising.
Housing finance approvals are up 10.7% for owner-occupiers (with all state and territories rising strongly except the Northern Territory) and 27% for investors (with five states/territories recording annual rises above 13% and six states/territories recording monthly rises of at least 14% in May, the latest month for which we have figures).
Residential building approvals rose 17.4% in the 12 months to the end of May, with five states or territories recording annual rises above 20%.
There’s a pattern there suggests growing national momentum in property markets. The national price boom that was incorrectly perceived by myopic economists, and then inaccurately declared dead by those who rush to judgment, may be only just beginning.
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

National price boom may be about to begin

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Sydney's median house price has edged through the $800,000 barrier to an $811,837 record price, according to the Australian Property Monitors Quarterly House Price Report.
It was at $787,000 in the March quarter.
Sydney house prices were up almost $118,000 annually.
Sydney's overall 3.1% June quarter increase took the 2013-14 financial year house price growth to 17%.
With a $1.53 million median, Sydney's city and east region actually slipped back in the past six months, with a 0.1% dip in prices.
But after troubling times following the global financial crisis, the lower north shore showed signs of bouncing back with its house price median up  4.4% so far this year to a $1.67 million median, according to APM data published within its Fairfax Media publications. 
<a href="/expert-insights/buying/price-surge-for-south-west-fibros-and-northern-beaches-silvertails-sees-sydney-sprint-away-from-the-rest-of-the-capitals">The south-west Sydney housing market was especially strong</a> over the past six months, unlike the eastern suburbs. 
<img src="/images/2014/07/24/apm-chart-july-24-one.gif" alt="" style="line-height: 1.3em;">
Source: Australian Property Monitors 
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Sydney house price median surpasses $800,000 in June 2014 quarter: APM

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A 9% surge so far this year in Sydney's south-west helped the Sydney median house price edge through the $800,000 barrier to an all-time high of $811,837, according to the Australian Property Monitors June quarterly house price report. 
Sydney apartment prices outpaced house prices over the June quarter, up by 3.9% to a record high of $573,255, with the northern beaches the strongest region with prices up 9.4% so far this year.
For once there was no great divide between Sydney's so-called Silvertails and Fibros.
Sydney house prices were up almost $118,000 annually, or a $2,200 a week, without the eastern suburbs being on board.
Sydney's overall 3.1% June quarter increase took the 2013-14 financial year house price growth to 17%, well beyond the nearest capital rival Melbourne with a 10% rise in house prices to $607,700.
With a 13.3% annual hike, Sydney apartment prices were up $67,000 annually, or $1,300 a week.
While less than the December 2013 quarter high watermark for Sydney's current growth cycle, Dr Andrew Wilson, the APM senior economist with the Fairfax Media Domain group, said the Sydney housing market remained the "standout" capital city performer with another strong quarterly result.  
The national median house price increased by 1.9% over the quarter, the same result as the previous quarter to $627,940.
 The national median unit price recorded a sturdy rise of 2.5% to $473,385 which was higher than the 1.6% increase of the March quarter.
But while Sydney unit prices up 13.3% over the year, the Melbourne apartment market reported just a 0.7% increase over the quarter to be up by 4.0% over the year at $419,639.
Recording eight consecutive quarters of house price growth, the Brisbane housing market continues to gather momentum.
Over the June quarter, the Brisbane median house price increased by 1.5% over the quarter with the Brisbane median house price now at a new record level of $477,352.
Brisbane house prices increased by 6.9% over the year ending June which was the highest annual result for the city in four years. But Brisbane unit growth was no where near as strong.
The weakest apartment market in the country is Canberra.
The significance of the latest data is the increasing return of Sydney being the engine room of Australia's property price growth.
Back in 2003, Sydney's median house price was more than double Perth's, but the price gap narrowed to within 6% during late 2006. 
Perth's median was $491,000, in contrast, Sydney's median price at $520,000 in late 2006.
Then around late 2010 Melbourne was fast closing the gap on Sydney as Australia's most expensive city to buy a house, with its median price around $89,000 less.
There is now a $204,000 gap between Sydney and Melbourne, some 25% higher, and a $192,000 gap between Sydney and Perth, some 23% higher. 
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Source: Australian Property Monitors.
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Price surge for south-west fibros and northern beaches silvertails sees Sydney sprint away from the rest of the capitals

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The Commonwealth Bank has cut its five-year fixed mortgage rate to a record 4.99% low, an adjustment of 70 basis points from July 23.
 It is the first time the big bank has cut its five-year fixed rate below 5%. Within hours Westpac and NAB followed by matching the CBA's five-year rate. 
The NAB also cut rates on its three and four-year loans.
Meanwhile Australia’s headline inflation rate was up 0.5% in the June quarter.
There was an annual gain of 3%, according to the Australian Bureau of Statistics.
The ABS’s measure of core inflation sits near the top of the Reserve Bank of Australia’s target range of 2% to 3%.
Michael Blythe, chief economist at Commonwealth Bank of Australia, said the figures were a touch above market expectations and "are a reminder that not all inflation risks are to the downside".
"The QI underlying figures were revised a touch higher as well. Nevertheless, the message from the RBA is that they want a long period of stability in rates," he advised.
"In our view, the RBA can stay on hold till QI 2015."
Savanth Sebastian, economist at CommSec said at present inflation is not a threat to the economy, meaning that the Reserve Bank can comfortably keep interest rates at exceptionally low levels over the medium term. 
"Domestic inflationary pressures remain well contained and given the slow growth in wages it is unlikely to result in a change to the domestic inflation landscape." 
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