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

Joel Robinson

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

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

<html><body>
GUEST OBSERVATION
Understanding the chain which leads to future property supply is an important consideration before deciding to invest in to a market.
Forecasting future property supply is arguably the single most difficult task for property analysts.
Analytically-minded property investors enjoy statistics. While statistics do play an important role for property analysts, some statistics have greater relevance than others. And then there's the skill in being able to interpret statistics. Building approval statistics play an important role in understanding property markets.
Building approvals are a lead indicator for future property supply. ‘Approved’ does not mean ‘built’. The property supply chain is such that lot owners must (first) apply to the local government authority and have the application approved, (then) secure the necessary funding, and (finally) begin construction. The time lag from building approval through to completion of construction often ranges from six months to two years.
Building approval statistics are relevant for property investors because they have a direct impact on that relationship between demand and supply.
<img src="/images/2014/07/16/building%20approvals.jpg" alt=""> 
Generally speaking, when there are a large number of buyers (demand) at a time when the levels of supply are low, increased competition is created; price growth then occurs. Conversely, when supply is high buyers have more choice and prices are discounted.
A lot of property investors don't understand the lag affect that building approvals have on property values. An investor might purchase in to a market a buoyant market and neglect to study the supply chain. Supply might be tight at the time of purchase however there might also be a large volume of new properties literally 'on the drawing board' and slated for construction completion in the near future. A much softer market might be just around the corner.
Take a look at Western Australia's building approval graph (remembering that 75% of WA's population is based in Perth). The volume of building approvals eased during 2010 and 2011. The lag affect of the declining number of new properties coming on to the market was one significant reason why Perth experienced above-average price growth in 2012 and 2013.
A significant rise in building approvals in Perth during 2013 means that a lot more supply is hitting the market this year.
Property developers will always find a way to build (their livelihood demands on it). A healthy construction industry generally means a healthy economy however there will always be a fine line to building too much. And statistics will only enable us to look so far in to the future.
Forecasting future property supply is arguably the single most difficult task for property analysts.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and Australia’s (REIA) Buyer’s Agent of the Year (2012+2013+2014).
</body></html>

spressley-sBoeMhannA

The property supply chain: The effect of building approvals on property values

<html><body>
Adelaide continues to deliver data suggesting a rising market – and further evidence that those who called the end of the so-called national property boom forget to look beyond Sydney.
The latest figures come from an analysis of Valuer-General’s data by the Real Estate Institute of South Australia. They confirm my own figures showing strongly rising sales volumes throughout Adelaide. The REISA report also provides evidence of the first signs of price growth.
This reinforces the findings of the Price Predictor Index, which suggest a rising Adelaide market in 2014.
I wrote <a href="/news/sa/adelaide-is-the-standout-market-and-opportunity-for-investors">on Property Observer last month</a>:
“The standout market for me at the moment is Adelaide. The South Australian capital has more forward momentum than most of the capital cities. Given that this has not yet translated into major price growth, it represents an opportunity for investors.
“South Australia is the only capital city which ended 2013 with sales volumes rising significantly and carried that into the early part of 2014. Some of our cities peaked, in terms of sales activity, in early or mid 2013. Some ended 2013 strongly but made a lukewarm start to 2014.
“But SA is really just beginning its run.”
The REISA report indicates a 6.2% quarterly rise in the number of houses sold in metropolitan Adelaide. It says the median price rose 4% to $415,000.
I would expect more growth to follow, given the strong pattern of rising sales volumes.
Adelaide and South Australia seldom get the credit they deserve. They only attract national headlines when something negative happens, like the deferral of the Olympic Dam resources project or the closure of a major manufacturing enterprise.
I think few investors realise how much is happening there, particularly in the area of new infrastructure spending and development of new property markets, such as urban renewal projects in the inner-city areas.
Adelaide has major infrastructure projects happening with rail links, road networks, hospitals, education facilities and sports infrastructure.
I commented about two years ago that Adelaide had more infrastructure developments under way than did Sydney. This is no longer true, as the NSW state government has initiated some major projects more recently, but Adelaide remains a significant centre for infrastructure spending, relative to its size.
As the year progresses, I expect to see more from the South Australian capital in terms of rising property markets and significant price growth.
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>.
</body></html>

terryryder-YECXbqmri2

The data is in: Adelaide's on the move and I expect significant price growth

<html><body>
Over the last 12-18 months investors have become an important part of the target market for most project marketers.
The 2012-13 Annual Report of the NSW Rental Bond Board gives some keen insights to the character of the Sydney rental market. The insights are well worth sharing with investors, developers and marketers alike.
It is estimated that there are some 2.47 million private dwellings in NSW of which 703,158 (when last counted by the Board) are private sector rental properties and there’s a general trend suggesting that soon this will account for almost 30% of housing stock. By any measure the residential rental accommodation is key and seemingly ever more important.
In 2009/10 the Board held some 648,141 bonds or $840 million but in 2012/13 it held 703,158 bonds or $1.043 billion, and since the GFC the number of people in rental accommodation has been on an upward trend with the biggest increase being seen in 2012/13. It is also reasonable to expect that this trend will continue as affordability remains tight and as more new stock is completed and becomes available to rent.
There also appears to be a trend towards longer lease terms. This may in part be directly related to the improved quality of apartments that are now being developed. Investors are now very keen to purchase apartments that offer good quality, this applies to SMSF investors who are looking for long-term income and tenant stability. The sometimes termed ‘rental quality’ is no longer acceptable, as any sort of dumbing down in a development will fall short of investor expectations.
The trend towards longer leases, and hence more security for investors, is seen in some of the Board’s figures. These show that lease terms of between 13 to 24 months are the fastest growing sector of demand and that lease terms beyond 37 months are a very stable part of the market.
Two-year terms are now around 33.5% – a big increase from the level of 23.3% in 2001/02. It also appears that investors are also on a winning trend with more than 91% of bonds returned in full or only with part deductions and only 9.3% of bonds claimed by landlords. Again, I think that this points to an evolving and longer-term rental market, which for some tenants means that renting is less of a stop-gap measure and longer lease terms may also help people save for their own home, while flat-sharing of more expensive properties is also a popular option.
</body></html>

pchittenden-eLqUUC8TWW

Sydney’s residential rental accommodation is more important than ever

<html><body>
The Bexley vendor and their estate agent who publicised their $570,000 reserve price ahead of its weekend auction secured a $613,000 sale.
The unusual tactic garnered a result at 7.5% above reserve, which suggests it was a tad conservative in its initial appraisal although recent surveys typically put sold prices at around 12% above price guidance.
Its web marketing didn't actually give the reserve price, with inspectees of 15A St Georges Road advised of it when they turned up or rung the agent.
The LJ Hooker listing agent confirmed to Property Observer that there was no marketing of the reserve price as he needed to engage possible buyers in a conversation which might not happen if the reserve price was publicly available.
<a href="https://www.realestate.com.au/property-house-nsw-bexley-117327823" target="_blank">The $570,000 disclosed reserve price was for a two bedroom, two bathroom property</a> which traded at $400,000 in 2004.
The buyers’ agent Patrick Bright attended the auction saying it was a test case for a fully transparent and successful auction for vendor and buyer alike by disclosing the reserve price prior to auction.
“Speaking with the under-bidder after the auction, she said she only bid on the property because the reserve price had been published in advance and she knew the property was truly within her budget," Bright suggested.
Though she did miss out.
Bright noted the underbidder "claimed 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 well over the price guide provided by agents".
Patrick Bright is currently petitioning the NSW government to disclose reserve prices prior to auction to stamp out underquoting.
</body></html>

jchancellor-FAypfDUnLy

A 7.5% premium above disclosed reserve at Bexley auction experiment

<html><body>
A preliminary weighted average clearance rate of 70.7% was recorded this week across capital cities compared to 67.2% last week and 64.1% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Capital-city.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3517" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Capital-city-580x430.jpg" alt="RP Data national auction comment" width="580" height="430"></a>
Demand in the Sydney market has pushed the national preliminary clearance rate over the 70% mark for the first time since the middle of March this year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Sydney.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3518" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Sydney-580x384.jpg" alt="RP Data national auction comment - Sydney" width="580" height="384"></a>
Low winter volumes are a factor as the clearance rate recorded its sixth consecutive increase. A preliminary clearance rate of 76.9% was recorded in Sydney compared to 75.6% last week.
A clear improvement was seen in Melbourne compared to last week, with a preliminary clearance rate of 69.6% recorded compared to 66.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Melbourne.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3519" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Melbourne-580x381.jpg" alt="RP Data national auction comment - Melbourne" width="580" height="381"></a>
In Brisbane a preliminary clearance rate of 54.1% was recorded compared to 43.3% last week. Adelaide recorded a clearance rate of 72.7% compared to 60.9% last week.
In Canberra a clearance rate of 71% was recorded and in Perth there was a clearance rate of 30%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Brisbane.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3520" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Brisbane-580x382.jpg" alt="RP Data national auction comment - Brisbane" width="580" height="382"></a> <a href="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Adelaide.jpg" rel="wp-prettyPhoto[g3516]"><img class="aligncenter size-large wp-image-3521" src="https://blog.rpdata.com/wp-content/uploads/2014/07/20140720-Adelaide-580x383.jpg" alt="RP Data national auction comment - Adelaide" width="580" height="383"></a>
</body></html>

rlarocca-zWhvjay44N

Market continues to strengthen: RP Data's national auction wrap

<html><body>
A Sunbury man appeared in the Melbourne Magistrates Court after the Australian Securities and Investment Commission alleged that he fraudulently obtained more than $1 million from investors.
Barry John Patrick, a 71 year old from Sunbury, Victoria, allegedly obtained the money from 14 investors between 2007 and 2010, telling investors it was to be used to fund a property development.
The Australian Securities and Investment Commission (ASIC) allege that Patrick took some of the funds for personal use, and used some of the money to pay interest payments to past and existing investors and to make loan repayments. According to ASIC, investors were persuaded to refinance their self managed superannuation funds and homes, take out additional loans or use credit cards to pay Patrick.
Patrick has been charged with eight counts of obtaining property by deception, five counts of obtaining financial advantage by deception, one count or theft and one count of running a financial services business without an Australian financial services license.
The charges relate to the three-year period between 2007 and 2010, in which ASIC alleges Patrick formed companies to purchase properties for development and consequently persuaded investors to refinance their homes or self-managed super funds, or take out additional loans or credit cards.
“ASIC allege the funds raised by Mr Patrick were not used to develop the properties, instead, they were used to pay interest payments to past and existing investors and to meet repayments on loans as well as for personal use,” said the regulator.
But this is not the first time Patrick has fallen on the wrong side of the law.
In 2010, Patrick <a href="https://www.asic.gov.au/asic/asic.nsf/byheadline/10-257AD+Melbourne+director+sentenced?openDocument" target="_blank">received a four-month suspended jail sentence</a> and a five-year good behaviour bond after pleading guilty to one charge of carrying on a financial services business without holding an AFS license and three charges of managing a corporation while disqualified.
According to ASIC, during August 2003 and December 2006, Patrick persuaded 40 investors to invest in three companies: E.K.B Properties, Sandgrove Specialised Securities and Cardinia Specialised Securities.
During the time, E.K.B Properties raised approximately $4 million, Sandgrove Specialised Services raised approximately $1.5 million and Cardinia Specialised Services raised approximately $1 million.
<a href="https://www.moneymanagement.com.au/news/superannuation/2014/victorian-charged-with-smsf-property-fraud" target="_blank">According to Money Management</a>, ASIC alleged Patrick and his associate Karl Heinz Veljkovic were pushing investors to roll over their superannuation into self-managed funds and then invest those funds into the three companies.
However, the companies, which were controlled and managed by Patrick and Veljkovic, were placed into liquidation by the Federal Court in 2007 following investigations by ASIC. As of December 2010, ASIC said none of the investors had been repaid.
In 2007, both men consented to Federal Court orders banning them from carrying on a financial services business; parting with any funds that have come into their possession by issuing, selling or offering a financial product; and managing corporations for a period of 20 years.
Graeme Colley, director of technical and professional standards at the SMSF Professionals’ Association of Australia, said these kinds of cases arise from time to time, and are the result of a “failure of the independence between initial advice given to individuals and where the money ends up”.
Colley says cases like this don’t preclude investing your self-managed super fund in property, but says “the hotter it gets, the closer you are getting to the fire”.
As a general rule, Colley says investors should only consider advice from advisers with AFS licenses. This way, if something goes wrong, the investor potentially has some recourse against the licensee and can use formal complaints arrangements.
Colley says it is also important to do your own research and be as thorough as possible. “Make some investigations into who owns the business, the relationship between the adviser and the organisation, and if there are any other real investors,” says Colley.
Patrick is next due to appear in court on 16 September. He faces a maximum 10 years in jail for each of the deception and theft charges, and a maximum jail sentence of two years if found guilty of operating a financial services business without an AFS license.
Parts of this article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

jrichardson-uRX5hFdKfN

Melbourne property developer charged with $1 million fraud

<html><body>
It was the Sydney Home Buyer and Property Investor show over the weekend.
It is indisputably one of my favourite yearly events as familiar faces are brought into the one room to speak to the people we write for and educate all year round.
Every time I attend, I am struck with how it reflects the trends in the housing market – a microcosm of what is currently happening on a wider scale. Each city reflects the confidence in that area, for instance this time round I was told by Right Property Group that they saw more activity on the first day of the Sydney show than they did the entire time of the Perth show, an observation that many others conceded to be correct. This is no exact art, and yet it proves surprisingly accurate each year.
The trends in what is “en vogue” for investing itself are also present for those keenly observing. Where mining towns were once the dominant theme of new exhibitors, and then the United States, China, granny flats and self-managed super funds, this year there was little of any particularly new theme. There remained one company that appeared to be pitching to Chinese investors only – speaking to them in their own tongue, and there remained a granny flat builder, selling it more to those interested in the services than pitching it as an investment solution.
I didn’t note a single US property guru. In fact, it seemed to be that the exhibitor list was slightly whittled down to a core of those who have been in the market for a long time. While I wouldn’t spend money with every person on the exhibitor list, for a number of reasons, there are many on there that I respect.
<img src="/images/2014/07/21/home-show-july-21-two.jpg" alt="">
While there are a huge number of new companies deserving applaud for the ground they are breaking in property, and their education offerings and ethics, the “test of time” is still one of the better gauges for success in the property industry – not in the least because property is a long-term asset, and it’s expected that good experts are able to retain a good name and deliver on their predictions and offerings over this time. We see many new companies and trends come and go, but solid investing principles and ethics see the same businesses stay in the game year after year as past exhibitors vanish or hang on with blackened names.
I was also struck by one other detail – the increasing concern and diligence of the public. Spending some time over at the Property Investment Professionals of Australia stand, where they have a petition for regulation of the industry, I heard people say that they felt ‘overwhelmed’ a number of times and sign the petition willingly.
<img src="/images/2014/07/21/home-show-july-21-three.jpg" alt="">
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
In the past, explaining the dangers of the industry, many attendees were surprised.
This time, it seems the message is getting through – be prepared, do your research, don’t hand your money over without your due diligence. The “splashy” sales pitches of the past, with huge price gain claims, seemed to be less common.
When listening to my editor-at-large Jonathan Chancellor’s speech on the resi stage, where he spoke about the difficulties of investing using mining town Zeehan in Tasmania as his example, the crowd furiously wrote down notes. He said that he wasn’t trying to put anyone off the property market, but rather off the idea that it is easy, that it’s fast money and that it doesn’t require hard work from yourself as a consumer.
<img src="/images/2014/07/21/home-show-july-21-one.jpg" alt="">
Providing his research tips, some of which he has taught myself and the editorial team for the way in which we look for stories (setting up alerts for announcements about infrastructure, for instance), I felt very proud of what the industry is achieving, and also for the increasing sophistication of investors and home buyers.
Now, more than ever, we are sent in detailed questions from readers who don’t want to just know “what” something is, but how to use it themselves. They don’t always want a hotspot list, or to be handed a property on a plate – although these are useful and fun in their own ways. They want to equip themselves with the skills to do the research themselves, or to at least ensure their investment team is doing the right thing.
We don’t suggest going it alone in the property field, but we do suggest undertaking your own due diligence and research. Test your own theories on property, for instance. After his talk, I overheard Jonathan speaking to one of the audience members and telling them to choose a suburb they know well to research and do a “practice run” with getting the latest information if they’re not experienced with getting it right the first time round. This will allow you to see any flaws in your process, and understand what to look for, before you start researching an area you do not know.
We all think we understand property better than everyone else. But it is time consuming, and you are expecting to dedicate some work into getting the information you need to save yourself the funds in the future from the market moving backwards. And, as RBA governor Glenn Stevens re-iterated in the much-discussed speech, the market can and does move backwards – it is by no means unheard of. We would hate any person to suffer through bad property choices, particularly when the situation could have been avoided through a little more education and effort - or through better choice of expert. Bad decisions happen frequently and, as we know, hindsight is 20/20 while foresight is basically a thick fog.
But is it possible to make money through property? Yes, it is. Is it certain or simple? No, it is not. To suggest it's easy is irresponsible. It’s not a sexy message, and it doesn’t make a good headline. The sales pitch “It’s hard work, not certain, expensive and you may not make as much money as you think” isn’t particularly enticing. No one was ever interested in writing about the suburb that is a ‘quiet achiever’ and growing just slightly above the national average. It’s a hard sell for us to write a story about a suburb that isn’t “booming”, it’s a hard sell for someone to push property there or to suggest someone invests there – and so these areas can often be ignored.
Jonathan told the crowd that this is actually exactly what they’re looking for.
The hotspot lists help you know where not to buy – where the herds are buying and everyone else is investing – instead, you want the quiet places that no one else is talking about yet. These are places that, while we do our best, aren’t always going to make it into our headlines. We write based on what we hear and what we're told by investors and experts, each with their own agenda, so you can understand where we come in during the process.
After everything, I found myself smiling and cheerful at the show – those with ethics, who are forward thinking and care for their clients, they will see long-term success and repeat business. And consumers who are the same, who are diligent and careful, do their research and educate themselves – they are putting themselves in a better position as well.
We can’t be naïve to think that another investment trend won’t be seen – that there won’t be another form of investing that hits a chord for a while (and, yes, makes some people plenty of money), but we can hope that by the time the next property sensation takes off the next wave of buyers are ready to truly analyse it and work out whether or not it’s for them.
</body></html>

jduke-EHk3XBmHkn

Letter from the editor: Property investing isn't about the sexy sales pitch

<html><body>
More than half of the baby boomers surveyed by realestateVIEW.com.au believe today's generation "have it tougher" than they did when buying their first home.
In a recent survey, 56% of the 2,554 respondents aged between 50-59 thought today's first home buyers are having a tougher time than they did when purchasing their first homes in the late 80s and early 90s, despite interest rates reaching 17%.
According to Petra Spektros, general manager of realestateVIEW.com.au, baby boomers weren't facing the same affordability constraints experienced by today's first home buyers.
"I think certainly the current generation have it tougher," says Spektros.
"Interest rates were the biggest constraint for baby boomers," she explains. But Spektros says that non-housing related costs are contributing to the affordability issues faced by today's first home buyers.
"You just have to look at HECS, for example, and private health cover," Spektros says. "There's lots to pay for that just wasn't needed when the baby boomers were purchasing property."
She also noted population growth and increased competition as house price drivers.
Only 18% of those surveyed by realestateVIEW.com.au thought today's generation are finding it easier to buy their first home than they did.
The survey also revealed that despite the "cashed up" baby boomer stereotype, many are experiencing affordability issues of their own. The majority of baby boomers surveyed were seeking a property priced under $600,000, with 36.6% after a property that will cost them less than $400,000. Around a quarter of the respondents had been looking for a home for more than three years, a results realestateVIEW.com.au says reflects "rapid price growth and market competition in Australia's cities".
However, 51% of those surveyed said they were "comfortable" with current house prices, with 33.5% saying they are "uncomfortable with house prices" and 15.5% saying "I feel I am being priced out/outbid by other buyers".
Baby boomers in New South Wales appear to have a less rosy look than Victorians, with 39.7% of New South Wales respondents reporting that they are comfortable with current prices, while 51.7% Victorian respondents shared the same sentiment.
Most of the survey's respondents are looking to downsize, but 34.4% of the baby boomers intend to stay in the family home when they retire. Spektros says many are probably still funding their kids who live in the family home.
"A significant proportion are struggling and have affordability concerns. I think house prices today ahave a particular bearing on that," says Spektros.
"Some may not be working as hard or full time, as they used to. But they still have the family home bills to pay," she says. But there are other lifestyle factors at play as well.
"And of course this generation, because they have worked so hard, are waiting for their retirement to have their big holiday and dinners."
It appears retirement villages and communities are becoming less popular, with only 6.1% of respondents reporting a retirement village as their preferred option in retirement.
{module Do you think the younger generations have it tougher?}
</body></html>

Baby boomers believe younger generation have it tougher: realestateview

<html><body>
Renovators and home builders can expect to be assisted under draft supporting regulations for new laws from New South Wales Fair Trading Minister, Matthew Mason-Cox.
Measures proposed by Mason-Cox as pat of the Home Building Act reforms include fast-tracking IPART reforms, that allow residential work under $5,000 to be done without a permit.
Also, property owners will be able to do work on their home up to the value of $10,000 without an owner-builder permit.
These are additions to amendments passed by the New South Wales Parliament in May that cleared up definitions around structural defects, and tightened licence eligibility to stamp out <a href="https://www.timebase.com.au/news/2013/AT644-article" target="_blank">phoenixing</a> (defined by ASIC as "the fraudulent act of transferring the assets of an indebted company into a new company to avoid paying creditors, tax or employee entitlements"). 
“For most consumers, building or renovating their home is one of the biggest financial undertakings they will ever make in life,” said Mason-Cox.
“Modernising the Home Building Act is absolutely essential to enhancing consumer protection and ensuring the ongoing viability of the building sector.
Other changes may include a review of the scope of some categories of work for licences and certifications. Feedback is also being sought on deregulating excavation work, cleaning work and some fencing so that licences and home warranty isn’t required.
“The reforms will reduce the cost of providing building and maintenance services and help ease the cost of living pressures for consumers across NSW, while still providing an appropriate level of consumer protection,” he said.
Stakeholders can <a href="https://www.fairtrading.nsw.gov.au">still comment on the reforms</a>, with a submission deadline of 15 August 2014. Resulting new laws are expected later this year. 
</body></html>

Draft regulations to assist renovators released: NSW Fair Trading

<html><body>
The Australian Business Roundtable has released a report that argues better risk management and preventative actions could save up to $14.6 billion a year in recovery costs following natural disasters.
The roundtable group was formed in late 2012 following an unprecedented number of floods, storms and bushfires across Australia. Its members are the chief executive officers of Insurance Australia Group, Investa Property Group, Munich Re and Westpac, as well as the Australian Red Cross and Optus.
The Roundtable released a white paper last year estimating that the economic cost of natural disasters would rise to $23 billion a year by 2050 from about $6.3 billion now.
Property insurance costs have already risen dramatically as insurers have reassessed the risks and costs of natural disasters over the past few years. In areas of North Queensland in particular, the costs of insurance have become too high for some property owners to afford.
The claims bill for tropical cyclone Ita in Queensland in April was around $8.4 million, <a href="https://www.insurancecouncil.com.au/statistics" target="_blank">the Insurance Council of Australia estimates</a>. Bushfires in Perth in January cost $15 million and bushfires in NSW in October 2013 cost $183.4 million.
The latest Australian Business Roundtable report, Building an Open Platform for Natural Disaster Resilience Decisions, argues that well-planned investment focused on risk minimisation could save between $12.7 billion and $14.6 billion a year in disaster recovery costs.
It found natural disaster research could be difficult and costly to access and incomplete, which hampered efforts to manage and reduce risks of natural disasters. In some cases research was duplicated or was unsuitable for organisations that would find the information useful.
The report recommends:
<ol>
<li>Developing a single point of access to national information on topics such as flood elevation, the location of assets, the resilience of building materials and long-term weather patterns that could be used to protect homes and property nationally from natural disasters.</li>
<li>Removing restrictive barriers on accessing data and research by standardising research and addressing concerns such as unnecessary restrictive licensing.</li>
<li>Prioritising investment in helping communities to become resilient to natural disasters, especially in the highest risk areas.</li>
</ol>
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News