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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GUEST OBSERVATION
It is not difficult to establish the case for the importance of financial advice.
With an ageing population, increasing longevity, higher expectations of post retirement living standards, the complexity of financial products and services, more scams and spruikers, financial illiteracy and money stress… getting quality financial advice has never been more important. Indeed, wealth management is seen as a key area of future growth for the economy.
Given this, one has to wonder how financial planning in Australia finds itself mired in regulatory uncertainty and persistent distrust by the community. This is fuelled by high profile failures such as Storm Financial, Commonwealth Financial Planning and Opes Prime.
These failures led (under the previous Labor government) to the Future of Financial Advice (FoFA) reforms which aim to improve the trust and confidence in financial advice while improving availability, accessibility and affordability.
<a href="https://theconversation.com/resist-efforts-to-water-down-fofa-to-protect-all-australians-26822">Central elements of this</a> included the banning of conflicted remuneration, a duty for advisers to act in the best interests of clients, an obligation to renew ongoing fee agreements with clients, and further powers to the regulator (ASIC).
A long path to change
The Abbott government has since moved on pre-election views that the laws were too restrictive and would unreasonably increase the cost (and therefore limit access to) advice.
After <a href="https://theconversation.com/sinodinos-stands-aside-during-corruption-inquiry-24571">the replacement</a> of the relevant minister, Arthur Sinodinos, a <a href="https://theconversation.com/call-for-commonwealth-bank-asic-to-face-royal-commission-28509">Senate inquiry</a>, <a href="https://theconversation.com/the-governments-financial-advice-regulations-are-in-the-senates-firing-line-29116">a move to regulate rather than legislate</a>, Labor’s disallowance motion and finally a <a href="https://theconversation.com/fofa-deal-encourages-government-to-humour-palmer-29237">government deal with the minor parties</a> in the Senate to vote down said motion, this is still not finalised.
The government now has a further 90 days to produce the revised regulations. And do not forget the ongoing <a href="https://theconversation.com/infographic-the-financial-system-inquiry-at-a-glance-29210">Financial System Inquiry (FSI)</a> and the newly established Parliamentary Joint Committee <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and_Financial_Services/Financial_Adviser_Qualifications">Inquiry into proposals to lift professional, ethical and education standards</a> in the financial services industry.
It appears however that the best interest duty, the ban on conflicted remuneration (including on general advice) and increased transparency will also be maintained. And a register of financial advisers will be created.
So, what does all this mean? Will the amended FoFA deliver on the stated aims?
First, it must be noted that there are many planners in Australia that have been and will continue to provide outstanding service to assist all manner of clients in all manner of situations. This is often lost in this debate and we would be well served to learn from how they operate.
Second, the inherent conflict in FoFA must also be acknowledged. The difficulty of achieving both an increase in quality and an increase in access/affordability is almost impossible through a political process. FoFA was always going to be a difficult balancing act.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
FoFA will not fix the trust problem
Third, the limited scope of FoFA means it will not in and of itself deliver quality advice and consumer trust. Critical issues not dealt with include the financial capability of consumers, the training requirements (both entry level and ongoing) for financial planners and remedies for aggrieved clients.
The management of vertically integrated business models, the different forms of advice (product advice vs personal advice), codes of professional/ethical conduct for advisers, and the role of the regulator are also not addressed.
Finally, when considering these issues the fragmented nature of the industry becomes apparent.
On one hand a financial planner may sign up to an enforceable code of conduct, have tertiary and professional qualifications in financial planning, undertake ongoing professional education, have professional indemnity insurance and experience gained within a professional practice environment. Another planner may meet ASIC requirements to give advice with only a few weeks of training, no adherence to a code of conduct and no related experience. FoFA does not deal with these issues.
So who wins and losses from the Senate deal? No one that matters - FoFA is a step in the right direction but the details of the regulations have not been produced. The key elements of FoFA appear to remain, yet it still ignores key issues, and the regulatory uncertainty remains.
Ironically, some sections of the industry have enhanced professional standards by addressing many of these issues without the long running political and regulatory intervention. This is a lesson for all.
The government might consider an alternative approach that partners with the industry to develop and foster professional behaviour, culture and standards. A more facilitative approach would pick up where FoFA fails to deliver and build upon the great work done in some sections of the industry already. If the revised FoFA, the new PJC Inquiry and the FSI start to support and cooperate in this regard, the future for Australians may be brighter.
Mark Brimble is discipline head of finance and financial planning at Griffith University.
Mark Brimble receives funding from the Financial Planning Education Council research grants scheme. He is chair of the Financial Planning Education Council, co-chair of the Financial Planning Academics Forum and a member of CPA Australia, FINSIA and FPA Australia.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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FoFA a step in the right direction, but ignores key issues

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The housing shortage is a much-lamented problem and BIS Shrapnel’s latest Building in Australia 2014-2029 report suggests that we may continue to feel its effects for some years.
While a record-breaking recovery in housing construction was discovered to be underway and a new high of homes being constructed is expected to be reached – many of them in apartment towers – it will not close the housing shortfall until 2018 if their forecasts are correct.
BIS Shrapnel’s associate director Kim Hawtrey said that new housing starts are forecast to reach 190,000 in 2014/2015, surpassing 187,000 seen during 1994.
”In the next two years we’ll also see the recent emphasis on highrise units continue. Currently two highrise apartments are being built for every five detached houses, which is double the historical rate of one apartment for every five houses built,” said Hawtrey.
However, strong population growth has driven pent up demand, growing at 1.7% per annum.
“Home building has been punching below its weight for about a decade, and has not kept pace with population growth for some time now,” he said.
They estimate a deficiency of 100,000 dwellings at present. This is based on household formation per thousand head of population.
”We estimate that it will take the next five years to eliminate the unmet demand for housing. We therefore do not see this housing shortfall closing until 2018,” said Hawtrey.
This is even despite an expected slowdown in population growth.
”Investors and upgraders/downsizers are driving demand in this cycle,” said Hawtrey. “First home buyers are still largely on the sidelines.”
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jduke-EHk3XBmHkn

Record breaking housing construction can't keep up with demand: BIS Shrapnel

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A sell out of their latest release of 35 homes in CityVillage, in Queensland’s Robina, has seen Robina Group push forward another wave of properties.
The $200 million project has already seen almost $62 million in sales across their two Robina projects – <a href="https://www.cityvillage.com.au/" target="_blank">CityVillage</a> and Riverlily. After the 35 homes in CityVillage sold out in March, in two days for $16 million, they are pushing another 33 to market.
The Riverlily terrace homes, which were launched in April, also saw strong sales. Currently just a few terrace properties are left from $449,000. Meanwhile, this latest CityVillage stage – number four- includes 33 three-bedroom properties. This includes 20 that are waterside homes from $529,000.
The first tri-level homes in the development, with ground level courtyard and a balcony, are also being sold in this release.
<a href="/news">Robina’s median house price is $525,000</a>, while the median unit price sits at $410,000, according to RP Data.
Robina Group residential sales manager Azura Griffen said that many buyers missed out in the early stage.
"The level of interest in property in Robina is only continuing to rise and we've been fast tracking the design and construction of our developments just to keep pace,” said Griffen.
"Robina is a highly sought after residential address because of the unparalleled mix of amenities on offer literally at the doorstep, including Robina Town Centre, schools, Hospital, Bond University and Cbus Super Stadium, and its relative ease of access."
In total, CityVillage will have 130 terrace homes over four hectares.
If you're marketing off the plan, you should consider signing up to the <a href="/news">Property Observer/Investorist free webinar off the plan marketing masterclass</a>.
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CityVillage, Gold Coast extends release after sell out

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The Mortgage Choice network has taken its national franchise numbers to 405.
And in June Mortgage Choice approved more than $1 billion in mortgages – the eighth month in the past financial year.
Mortgage Choice chief executive officer Michael Russell said it was "a real milestone" for the network.
“This is the first time since January 2009 that Mortgage Choice has had more than 400 franchises,” Russell said.
In February 2013 it was at 386 franchises and 380 in August 2012.
He summed up the current scenario as having a strong property market, interest rates hovering around record lows, lenders competing aggressively for business and the Mortgage Choice network "expanding at a cracking pace."
"Given the ferocity of these prevailing tailwinds, we are hopeful of recording our biggest settlement numbers yet this year,” Russell said.
Russell also noted that broker usage was now over 50%.
Russell said the company had  significantly grown its network of loan writers following its recent Plus One initiative which offered Mortgage Choice franchisees a monetary incentive to bring a new loans consultant into their business. 
"We set ourselves a target of recruiting 50 additional loan writers for our franchisees by the end of September and we are currently on track to exceed that goal."
Mortgage Choice has been offering home loans since it was established in 1992, in the wake of the deregulation of the Australian banking industry in 1985.
 
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jchancellor-FAypfDUnLy

Mortgage Choice tops $1 billion monthly loan approvals again

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GUEST OBSERVATION
Everyone wants to buy in a “hotspot” area that becomes trendy and popular in the near future and allows investors to take advantage of some good capital growth over a shorter time period.
Here are 10 of Melbourne’s suburbs that we believe have the potential to give investors good returns in the coming years.
Click on the suburbs names to find the latest property data, mapping tools and demographic information, from RP Data.
<ul>
<li><a href="/news">Reservoir</a></li>
</ul>
Reservoir is located 12 kilometres north of the CBD. Bounded by the Merri Creek in the west, and the Darebin Creek in the east, Reservoir is a mixed use suburb in Melbourne's north.
The suburb has significant industrial areas in the west and a commercial focus around the railways station and along Broadway.
Reservoir is well represented by the Italian population and also features the Reservoir Private Hospital and Edwardes Lake Park.
<ul>
<li><a href="/news">Frankston</a></li>
</ul>
Frankston is located 41 kilometres south of the CBD.
Frankston is the major commercial; retail, educational and transport centre in Melbourne's outer south, servicing a large hinterland including the Mornington Peninsula.
The major commercial area is located between Nepean Highway and the railway station, although Karingal Hub Shopping Centre is located in the east of the suburb. Frankston also features Monash University Peninsula Campus, the Peninsula Institute of TAFE and Frankston Hospital as well as a number of golf courses.
<ul>
<li><a href="/news">Footscray</a></li>
</ul>
Footscray is located 6 kilometres west of the CBD. Located in the inner west of Melbourne, Footscray is a multicultural community with a significant Vietnamese population.
The suburb has a combination of residential, industrial and commercial land, with retail activity centred on Barkly Street and industrial activity in the east and north. Footscray also features the Whitten Oval, the Victorian University of Technology, a major rail junction for the St Albans and Werribee Railway lines, the Western Hospital - Footscray Campus and Footscray Park.
<ul>
<li><a href="/news">Preston</a></li>
</ul>
Preston is located 9 kilometres north-east of the CBD. Bounded by the Merri Creek in the west, and the Darebin Creek in the east, Preston is a mixed use suburb in Melbourne's north.
The suburb features a significant commercial district along High Street, while the eastern regions feature a significant amount of light industry. It is also a multicultural suburb, with large Greek and Italian communities. Preston also features Northland Shopping Centre and the Northern Melbourne Institute of TAFE - Preston Campus.
<ul>
<li><a href="/news">Sunshine</a></li>
</ul>
Sunshine is located 12 kilometres west of the CBD. Sunshine is the major commercial, industrial and transport centre for the middle and outer western suburbs of Melbourne.
It is a highly multicultural suburb, comprising a significant Vietnamese community. Although there has been a decrease in manufacturing employment since the early 1980s, it still provides a quarter of all jobs for Sunshine's workforce.
Sunshine is the railway junction for the Ballarat and St Albans railway lines and features the Footscray TAFE - Sunshine Campus and the Sunshine Centre Plaza.
Five more of Frank Valentic's Melbourne hostpots on the next page. Please click below.
<hr class="system-pagebreak">
<ul>
<li><a href="/news">Kingsville</a></li>
</ul>
Kingsville is located 8 kilometers west of the CBD.
Kingsville is a small residential area located in Melbourne's western suburbs. It is multiculturally diverse, well represented by people from the countries of the former Yugoslavia and Vietnam.
Kingsville's labour force is concentrated in the manufacturing sector, providing a significant labour base to adjacent industrial suburbs. The suburb also features commercial areas along its boundaries.
<ul>
<li><a href="/news">Thornbury</a></li>
</ul>
Thornbury is located 7 kilometres north-east of the CBD. Located between the Merri Creek in the west and the Darebin Creek in the east, Thornbury is a residential suburb, with significant areas of commercial activity, especially along High Street.
It is a multicultural community, with the Italian, Greek and Chinese communities being well represented.
Thornbury also features many areas of open space, including the Hayes, Mayer, Penders and John Cain Memorial Parks and the Sir Douglas Nicholls Reserve.
<ul>
<li><a href="/news">Brunswick West</a></li>
</ul>
Brunswick West is located 6 kilometres north of the CBD. Bounded by the Moonee Ponds Creek in the west and Moreland Road in the north, Brunswick West is a primarily residential suburb.
The suburb is densely populated,featuring a young population, most notably 25-34 year olds.
Brunswick West also features a number of reserves and recreational areas, such as the Dunstan, the Denzil Don, Hudson, Shiels and Wylie Reserves.
<ul>
<li><a href="/news">Glen Huntly</a></li>
</ul>
Glen Huntly is located 12 kilometres south-east of the CBD. Bounded by Neernim Road in the south and Grange Road in the west, it is a small, primarily residential suburb in Melbourne's south-east. The suburb's retail activity is concentrated around the railway station. 
Glen Huntly also features parkland including Garden Avenue Reserve. The suburb's population includes a large number of renters and small households.
<ul>
<li><a href="/news">Mornington</a></li>
</ul>
Mornington is located 47 kilometres south of the CBD. Mornington is one of the larger commercial centres on the Mornington Peninsula to Melbourne's south.
This bayside suburb is traditionally a popular retirement area and has a number of aged care facilities.
Mornington also has a large number of families living in the area, especially in the new residential subdivisions on the eastern side of the Nepean Highway. The suburb features the Mornington Racecourse and the Mornington Country Golf Club.
FRANK VALENTIC is managing director of award-winning buyers' agency <a href="https://www.advantageproperty.com.au/" target="_blank" rel="nofollow">Advantage Property Consulting.</a>
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fvalentic-kJt4iZ5jDx

The top 10 Melbourne hotspot suburbs: Frank Valentic

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A generational shift may be coming that will substantially alter the property market, according to Club Plus Super. But what that shift is may catch you off guard.
Club Plus Super’s chief executive officer Paul Cahill says that the current structure of superannuation will see many Australians forced to sell the family home to fund their retirement – and move in with their children.
Modelling undertaken by the company has shown that a 65 year old person’s super balance will likely be dried up after just six years in retirement.
This matches an Association of Superannuation Funds of Australia report that saw the majority of Australians relying on modest levels of superannuation, with many retirees relying on the Age Pension. A Club Plus Super survey also discovered that while more than 50% of the 843 respondents understood the funds needed to retire, just one third were making extra contributions.
“This system and the sheer scale of Australia’s rapidly aging population will potentially see hundreds of thousands of retirees run out of funds and not be able to enjoy the retirement they envisaged,” said Cahill.
What will then potentially be seen is a system where retirees sell their large properties, unlock equity and then either rent, downsize or move in with their children.
“These trends could significantly change the dynamics of Australian families, the Australian property market and the Australian economy,” he said, pointing to moving in with children as the most cost effective option for many retirees.
He says that either Australians need to make additional contributions to grow their superannuation, or the government need to overhaul the system.
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The generational shift set to alter the property market: Club Plus Super

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It's the list every seller wants to see their home on - the most expensive sales of the week. 
According to RP Data, these were the 10 biggest sales this week. The list doesn't include <a href="/expert-insights/buying/petersham-boarding-house-fetches-3-3-million-in-sydney-weekend-auctions">the 12-bedroom 1888 Victorian Petersham trophy home sold at weekend auction</a> for $3.3 million, or the <a href="/news/backwards-at-2-000-a-day-millioniares-row-hedges-avenue-mermaid-beach-still-at-half-price">loss making Mermaid Beach home that sold on Sunday for $4 million</a>.
<ol>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f30_dawson_avenue_brighton_vic_3186%2f10009235" target="_blank">30 Dawson Avenue, Brighton, VIC</a> <img src="/images/2014/07/22/30-Dawson-Avenue-Brighton-VIC-3186-Real-Estate-photo-2-large-7196071.jpg" alt=""> This four bedroom house<a href="/expert-insights/buying/brighton-home-sells-for-4-68-million-as-weekends-top-auction-result"> sold for $4.68 million through Buxton Brighton this week</a>. Just a few doors down from the beach, the home is located in <a href="/news">Brighton</a>'s golden mile. With two storeys, the house has both formal and informal living spaces including a parent's retreat, a library and a "children's retreat" with a wet bar. The north facing backyard features a pool and spa, a covered dining area, spotted gum decks and a pool house or separate guest house. The vendor, prominent harness horse-breeder and construction company director Duncan McPherson, purchased the house in 2000 for $1.5 million. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f8_stack_street_balmain_east_nsw_2041%2f1262300" target="_blank">8 Stack Street, Balmain East, NSW</a> <img src="/images/2014/07/22/2.jpg" alt=""> Another four bedroom house sold at auction this weekend, with this <a href="/news">Balmain East</a> home securing $3.12 million through Cobden &amp; Hayson Balmain. Minutes from the harbour, the house is located within a gated community. The home has private covered courtyards, an al fresco dining area and a heated pool. The sale comes after two previous attempts to list the property - the vendors also attempted to move it in September 2010 and March 2012. They purchased the home in 2008, for $2,925,000. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f33_royalist_road_mosman_nsw_2088%2f4504281" target="_blank">33 Royalist Road, Mosman, NSW</a> <img src="/images/2014/07/22/3.jpg" alt=""> Raine &amp; Horne Mosman sold this home for $2.95 million this week. The renovated house with an easterly aspect has four bedrooms and three bathrooms. Located on the end of a quiet cul de sac, it is a short walk away from Mosman Bay. The single storey house was purchased by the vendors in July 2007, for $2,125,000.  </li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f71_irrubel_road_newport_nsw_2106%2f4872610" target="_blank">71 Irrubel Road, Newport, NSW</a> <img src="/images/2014/07/22/4.jpg" alt=""> This single storey waterfront home sold for $2,925,000 through L J Hooker Mona vale this week. The open plan house on Crystal Bay has its own swimming pool, boat shed, ramp and a shared deep-water jetty with a pontoon, fresh water and power. It has American Oak polished floorboards throughout and a sandstone fireplace. The vendors purchased the home in 2011, for $2.2 million. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f71_irrubel_road_newport_nsw_2106%2f4872610" target="_blank">347 Bronte Road, Bronte, NSW</a> <img src="/images/2014/07/22/5.jpg" alt=""> Dellcotta, a five bedroom semi-detached terrace in Bronte, sold for $2.67 million through McGrath Coogee. The 1881 era home has dual occupancy zoning, with the opportunity for the buyer to reside in one part of the home and rent out another. The property has two kitchens, separate dual level accommodation with two double bedrooms, and a cellar. The vendors purchased the home 23 years ago, for just $281,000. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f24%2f5_towns_place_millers_point_nsw_2000%2f4286471" target="_blank">24/5 Towns Place, Walsh Bay, NSW</a> <img src="/images/2014/07/22/6.jpg" alt=""> The only unit on this week's top 10 list secured $2.6 million when sold through McGrath Estate Agents Eastern Suburbs. The three bedroom penthouse overlooks Barangaroo Headland Park and across the harbour. The apartment includes access to a heated pool, gymnasium, sauna, spa and storage cage. The vendors purchased 24/6 Towns Place for $2,125,000 in 2006. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f11_hinkler_street_greenwich_nsw_2065%2f2634026" target="_blank">11 Hinkler Street, Greenwich, NSW</a> <img src="/images/2014/07/22/7.jpg" alt=""> This five-bedroom house sold at auction through Shead Property Chatswood for $2.39 million. With a formal lounge with fireplace, a home office, an open plan living room and a freestanding studio, the house offers plenty of living spaces for residents. Outside, there is a paved courtyard, a heated pool and lawns. The sellers purchased the house 15 years ago, for $925,000. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f172_paddington_street_paddington_nsw_2021%2f5273350" target="_blank">172 Paddington Street, Paddington, NSW</a> <img src="/images/2014/07/22/8.jpg" alt=""> Di Jones Real Estate Woollahra sold this terrace for $2.25 million this week. The 1890s terrace, which opens out to a north-east facing courtyard, has three bedrooms and two bathrooms. The listing agents suggest the home has potential for an attic conversion and a studio over the home's garage. Held for 27 years, the vendors originally purchased the home for $300,000 in 1987. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f21_austin_avenue_elwood_vic_3184%2f10909342" target="_blank">21 Austin Avenue, Elwood, VIC</a> <img src="/images/2014/07/22/9.jpg" alt=""> One of only two Melbourne homes on this week's top 10 list, this Elwood house is just a 20 minute walk from the Dawson Street home. It was sold at auction by Pride Real Estate St Kilda for $2.2 million. Sitting on 500 square metres of land, this Californian bungalow has been transformed by Jackson Clements Burrows, who have added a contemporary extension and revised the house's interiors. The home has four bedrooms and two bathrooms. It was purchased by the vendors in December 2007 for $1.17 million. 
</li>
<li>
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=jIPiREyySEeCynWu5WdVSEYF81nQeNEIYYWzmmVK0FaNtaCI-4D4qvj35un_nURQ8wM4kiv9Znc.&amp;URL=http%3a%2f%2fwww.myrp.com.au%2fproperty%2f22_cleveland_street_wahroonga_nsw_2076%2f7188577" target="_blank">22 Cleveland Street, Wahroonga, NSW</a> <img src="/images/2014/07/22/10.jpg" alt=""> A four-bedroom house in Wahroonga sold through McConnell Bourn Wahroonga for $2.196 million. A single storey home set on a 930 square metre block, 22 Cleveland Street has north-facing living areas, with four double bedrooms and three recently-renovated bathrooms. Outside, there are two large entertaining areas and lawns. T he vendors purchased the house six years ago, for $1.52 million.</li>
</ol>
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The 10 most expensive sales of the week: RP Data

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Here at Property Observer we talk a lot about buying your first investment property or home, getting your foot onto the ladder and the mistakes you may make earlier on.
However, for many property buyers it’s about planning for a portfolio of properties – rather than just the first one.
For today’s Q&amp;A we spoke to Wakelin Property Advisory’s associate director Jarrod McCabe and asked about how crucial that first purchase is and where it fits in to building a portfolio.
If there are any questions you’d like to see answered, or experts you’d like to see asked, email us with your thoughts: <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>.
What type of property should first time investors be looking at?
Typically, a first-time investor has bought their own house and has some equity in that property. Usually they are employed and have identified some surplus income they feel they would like to invest rather than consume. Often the investor has time on their side – they have 10 or 20 years or more until their envisioned retirement date – and so they are investing for the long-term.
Under these circumstances, a first-time property investor should be seeking a property that is likely to deliver strong capital growth. It is the year-on-year compounding effect of this growth that will deliver the return they are after. 
How crucial is the first investment property to building a portfolio?
The first property is vital.  Get this right and in a few years it will generate sufficient equity to finance the addition of a second property.  Ideally the aim is to repeat this process a number of times.  But if the first property is a dud it won’t deliver the equity to go to stage two. Instead, the investor is stuck with a non-performing asset.  Their best move is then to recognise the error, sell this property quickly and start again. 
However, invariably it takes several years before the investor faces up to the reality of their situation. Not only do they lose thousands of dollars in transaction fees and forgone capital growth, but they lose the most valuable and irreplaceable resource of all – time.
What does the 'perfect' portfolio look like? 
A perfect portfolio would consist of a number of assets situated across a number of blue-chip suburbs in one or more of our larger capital cities. There would be a balance of one and two bedroom apartments in the portfolio as well as a number of single fronted period cottage or terrace homes. 
All the properties would be older-style and be situated on attractive, leafy residential streets with good proximity to local amenities. The apartments would be in smaller boutique blocks with allocated off-street parking.  There would be a range of architectural styles including Victorian, Edwardian, Art Deco, and 1950s through to 1970s.
What does it mean when people refer to “diversifying” their portfolio?
Diversification – not having all your eggs in one basket – is of course just as valid for property as it is for other asset classes. 
In the ‘perfect’ portfolio above, this is achieved in a number of ways: selecting both houses and apartments, selecting one bedroom and two bedroom properties; mixing up the architectural styles; and by selecting properties in different suburbs – and possibly different cities.
But you can over-diversify, if that means compromising on other investment criteria such as sticking to property with scarcity value. So I wouldn’t recommend buying a high-rise property just so I can claim diversification.  One also has to weigh up buying property outside your own state in order to achieve diversity against the increased uncertainty that comes with investing in a less familiar place.
See over page for more on building a portfolio, knowing when to stop acquiring properties and whether or not you should sell.
<hr class="system-pagebreak">
How quickly should a portfolio be built?
Property investment is not about how many properties you have. Rather it’s about building equity. Only invest in the next property when you have the equity to do so and the spare cash-flow to finance it.
How do property investors know when to stop acquiring properties?
Eventually investors recognise they have reached a point when they have achieved their financial aim or they are at a life-stage when they no longer wish to accumulate assets but reap the benefits of those assets.
Do you believe in 'never sell'?
‘Never sell’ is a good state-of-mind to have when investing. It’s the attitude that these assets are locked away for the very long term; that the investor won’t be selling if the property market has a cyclical fall and that they are determined to accept a lower disposable income today in return for greater rewards tomorrow. It is also a recognition of the very large costs involved in property transactions. Of course, this is all predicated on buying quality assets in the first place.
But naturally, life does not always go to plan, and there may be personal reasons why one would sell. 
How do you judge the success of a property investment portfolio?
It probably takes a few years before this can be done. A successful property investment portfolio is one that repays the sacrifices made in the early years of ownership to establish and nurture it. It does this by generating enough rent to not only cover all costs, but to pay out a healthy income on top. It also continues to grow in value every year. And it is so well managed by your advisers that it require little input from the owner.
Any ideas for a Q&amp;A you'd like to see? Email us: <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a> 
For more Q&amp;As, click here.
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Building a well-structured portfolio: Q&A with Jarrod McCabe

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City of Sydney Council has put forward plans to rezone industrial areas in the city’s south to allow a wider range of commercial uses.
Although the areas are close to Sydney’s CBD and near suburbs that are in demand for residential development, private housing will generally not be allowed on the land.
Large areas zoned for general and light industrial purposes around <a href="/news">Alexandria</a> and <a href="/news">Rosebery </a>are earmarked to be rezoned as Business Park (see figures 3 and 4).
The only places in which residential development will be allowed are a section of Botany Road that currently permits shop-top housing and senior housing, and two areas on the edge of the Business Park that are being considered as sites where affordable housing could be developed to accommodate lower paid workers.
Attitudes towards land zoning have changed, Council notes in the introduction to its planning proposal. In the past, land use planning sought to divide uses into zones to minimise conflict between uses. Now, there is recognition that benefits could flow from locating a range of activities together, as long as they don’t have an "unreasonable impact" on one another – including raising values to such an extent that industry is priced out of the market by residential development.
The Council expects restricting the land in the areas proposed for rezoning to mainly commercial uses will keep land values down.
The conversion of other commercial and industrial sites in Sydney’s south to residential dwellings has started to have a major impact on the industrial market, and consequently jobs in the area.
Knight Frank’s research shows 71 businesses in the South Sydney commercial sector have been displaced in the past 12 months due to land rezoning with these businesses forced to consider relocating.
Knight Frank’s Industrial South Sydney Manager, Brooke Railton says <a href="/news">Marrickville</a>, in Sydney’s inner west is a popular alternative, given its close proximity to the Port Botany, Sydney Airport, main arterial roads and the CBD.
Fireplace manufacturer Jetmaster recently bought a vacant freestanding warehouse in Marrickville for $3.3 million, after selling two of its properties in redeveloped areas to enable the business to operate out of one location. Knight Frank received close to 80 enquiries on the industrial property. 
Industrial land values in Sydney's south are on average $850 per square metre, Colliers International’s first half Industrial Research &amp; Forecast Report found. That compares with values of $250 per square metre in Sydney's south west and $330 per square metre in the western suburbs.
Residential property prices in suburbs near to the South Sydney employment lands are considerably higher.
In <a href="/news">Erskineville</a>, which borders Alexandria to the west, residential land values were around $520,000 for a 4x32 metre block in 2013, according to the NSW Valuer general. That equates to $4,062.50 a square metre.
In <a href="/news">Mascot</a>, adjacent to the southern end of the employment lands, residential land values rose by 10% between 2012 and 2013 to $665,000 for a 12 x 40 metre block, according to the NSW Valuer general. That equates to $1,385.40 per square metre.
CBRE recently negotiated the sale of a 947 square metre showroom/warehouse facility at 133-141 Botany Road in Waterloo with residential development potential to Advan Properties. The residential property developer intends to lodge a development application for the site’s redevelopment.
The sale price of $4.5 million represented a land rate of $4,751 per square metre, according to CBRE.
Another freestanding commercial property with residential conversion potential, located just south of the City of Sydney employment lands sold to technology solutions firm Crosspoint Telecom for $2.31 million.
CBRE noted in its Q4, 2013 Australian Industrial MarketView report that investors were highly active in Sydney’s industrial market and were prepared to sit patiently on inner-ring assets that might be rezoned for residential use in future.
“A new breed of buyers, comprising mainly of unlisted wholesale groups and syndicators, are targeting these typically smaller assets – priced sub $30 million – due to their close proximity to the city and future redevelopment potential for higher and better use,” CBRE senior director, industrial investments, Matthew Lee says. “These buyers are happy to wait it out on an asset in order to take advantage of retail or residential redevelopment opportunities down the track.”
Click through to the next page to see graphics of City of Sydney Council's rezoning plans.
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Employment lands in the City of Sydney Council area comprise three precincts:
(a) the southern employment lands – this area is about 265 hectares in size and stretches from the southwest corner of the Green Square Town Centre to the south west corner of the LGA. Generally the area is in the suburbs of Rosebery and Alexandria and is bordered by Gardeners Road to the south, McEvoy Street on the west and Mentmore Avenue and Botany Road on the east;
(b) the Moore Park employment lands – this area is about 3.6 hectares in size and includes a single large lot on which the Moore Park Supa Centa is currently located; and
(c) the Parramatta Road employment lands – this area is about 2.1 hectares in size and includes several small lots in Glebe. The area is bordered by Arundel Street and Parramatta Road and divided by Ross Street.
Source: City of Sydney Council
Click to open in new window:
 <a href="/images/2014/07/21/zoning-july-21-one.gif" target="_blank"><img src="/images/2014/07/21/zoning-july-21-one.gif" alt=""></a>
Source: City of Sydney
 <a href="/images/2014/07/21/zoning-july-21-two.gif" target="_blank"><img src="/images/2014/07/21/zoning-july-21-two.gif" alt=""></a>
Source: City of Sydney
Existing City of Sydney Southern Employment Lands in context
<a href="/images/2014/07/21/zoning-july-21-three.jpg" target="_blank"><img src="/images/2014/07/21/zoning-july-21-three.jpg" alt=""></a>
Source: City of Sydney Council 
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City of Sydney planning to rezone swathes of southern industrial areas

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Australand has reported a 49% rise in net profit and a 30% increase in operating profit after tax for the half-year.
Its residential division reported an increase in operating earnings.
The residential division achieved an operating EBIT result of $30.7 million for the half year up on the half year of $22.3 million. 
Aggregate sales revenue for the half year was $185.0 million (HY13: $191.8 million). 
Sales activity remains strong with the division holding 2,170 contracts on hand as at 30 June 2014 (13 December: 1,823 contracts on hand). 
Major projects contributing to the half year result included: 
<ul>
<li>
<a href="/news">Greenhills Beach</a> in NSW with 14 lots sold;
</li>
<li>
<a href="/news">Croydon</a> in VIC with 86 lots sold;
</li>
<li>
<a href="/news">Greenvale </a>in VIC with 74 lots sold;
</li>
<li>
<a href="/news">Clyde North</a> in VIC with 118 lots sold;
</li>
<li>
<a href="/news">Parkville </a>in VIC with 48 lots sold; and
</li>
<li>
Port Coogee in WA with 19 lots sold. 
</li>
</ul>
The Clyde North project is being marketed as <a href="https://residential.australand.com.au/land/vic/clyde-north/berwick-waters/#forsale" target="_blank">Berwick Waters</a> (pictured above) which is delivering homes within extensive wetlands and open spaces, along with shopping and community facilities complemented by additional schools
But despite the recent sales the developer’s overall revenue fell 15% according to its financial report for the half-year to 30 June.
Distributions per stapled security were 12.75 cents, up from 10.5 cents.
The group upgraded its earnings guidance in May noting if strength in the residential market is sustained, earnings per security were expected to grow 10-15% annually from 2014 until the end of 2016.
Australand is set to be taken over by Singaporean-listed Frasers Centrepoint Limited after Australian authorities approved the $2.6 billion deal earlier in July.
Property professionals are invited to sign up for <a href="/news">the upcoming Property Observer webinar on Off the Plan Marketing and Sales Masterclass</a>.
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