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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Lara West, in the northern area of Greater Geelong, has been rezoned to include a 62-acre, 650 lot, subdivision called Manzeene Village.
Planning Minister Matthew Guy said that it will make a link between central <a href="/news">Lara</a> and the Lara West growth area, being one of the most significant in Geelong with forecasts of accommodating 10,000 people.
Earlier this year, in February, a 390-hectare Lara West precinct was approved.
"Manzeene Village completes the planning picture for the Lara West growth front, which will feature an employment precinct, a large neighbourhood activity hub, three new schools, community services, sporting facilities and parkland that can be enjoyed by everyone in the region,” said Guy.
A local commercial area will be built, as well as 5,000 square metres of local parkland.
"Development at Lara West will be undertaken gradually over 30 years to help meet the needs of the projected 500,000 extra residents in the Greater Geelong region by 2050," he said.
New suburbs Lovely Banks and Batesford South are the next planned for Geelong’s north.
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Greater Geelong rezoning includes new Lara West subdivision

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Channel 9 has revealed more information about the contestants of the latest offering from its renovation franchise.
In a series of videos introducing us to this season's would-be Steve and Chantelles, we get to know a little more about The Block Glasshouse's contestants and the "shock twist" of the season - the five teams will be judging each other.
The competitors-as-judges trope is a quick and dirty way to force the contestants to play to their assigned roles as heroes or villains, if the endless stream of criticism of Brooke and Grant's scoring in the recent House Rules is anything to go by.
Not that the producers need any help figuring out where everyone will fit - from the promos released, it looks like they have that all sorted.
<ul>
<li>Carlene and Michael </li>
</ul>
<img src="/images/2014/07/18/michael%20and%20carlene.jpeg" alt="">
Image courtesy of Channel 9.
Carlene and Michael (pictured above), the first of three blonde-woman-and-brunette-buff-guy couples this season, have been married for seven years, and have two young children. Michael certainly knows his way around a worksite, given his job as a construction manager. Carlene is a part time communications manager for Griffith University. 
The Gold Coast couple have renovated two houses in their 12 years together. Despite Michael's admission that he has a "short temper" and Carlene saying he can be "very snappy" and "has no patience and no tolerance", The Block Glasshouse producers have decided on a different story. 
In a two minute promotional video, host Scott Cam tells us that Carlene "always knows what she wants, and Michael knows she's always right". We're then treated to a laugh from Carlene, echoed to sound like a cackle. Chilling stuff.
<ul>
<li>Maxine and Karstan</li>
</ul>
<img src="/images/2014/07/18/karstan%20and%20max.jpeg" alt="">
Image courtesy of Channel 9.
Second in the blonde-and-brunette lineup are Maxine and Karstan, from Newcastle (pictured above).
The engaged couple, who are currently renovating their house, have been together for nine years without a single argument, we're told.
The greatest grievance they can come up with for their talking heads segment is something about laundry on the floor.
<ul>
<li>Darren and Dee</li>
</ul>
<img src="/images/2014/07/18/darren%20and%20dee.jpeg" alt="">
Image courtesy of Channel 9.
There's also Darren and Dee Jolly, from Melbourne, pictured above. Former AFL ruckman Darren won premierships with the Sydney Swans and Collingwood and has been studying to be a builder for the past two years, while Dee "loves interiors" and has a background in fashion.
"Australia will feel the full force of hurricane Dee", Cam tells us, forgetting that the producers have already designated a shrew for the season.
<ul>
<li>Simon and Shannon</li>
</ul>
<img src="/images/2014/07/18/shannon%20and%20simon.jpeg" alt="">
Image courtesy of Channel 9.
Simon and Shannon Voss, the apparent larrikins of the Glasshouse, run around shirtless on the sand for a bit before telling us that they're brothers and born in Tasmania in their introduction video.
"Cheeky brothers Simon and Shannon from Tasmania," says Cam. "Both good Aussie blokes, and both definitely trouble."
Despite the show's best efforts to paint the brothers as a bit of cheeky fun, in all their promo time so far they haven't managed to come up with more than a bit of car dancing - easily eclipsed in charisma and comedy by the final team, Chris and Jenna (pictured below).
<ul>
<li>Chris and Jenna</li>
</ul>
<img src="/images/2014/07/18/jenna%20and%20chris.jpeg" alt="">
Image courtesy of Channel 9.
Jenna, a 26 year old video editor, describes herself as "half Maltese, a quarter Aussie and a quarter Aboriginal", while cabinet maker Chris is Chinese-Indonesian. Chris says: "I want to put it out there - I'm Asian, and I want to break that stereotype, the Asians being dodgy and don't know how to drive, and stuff like that."
The married Campbelltown couple are certainly a change from the four brunette-and-blonde white teams. Even Cam's surprised.
"And...the biggest surprise of all..." says Cam.
But it turns out he's talking about their renovation skills. "...Glasshouse newbies, Chris and Jenna," he continues. "No experience, but they might just pack the biggest punch."
We'll have to wait and see. As the promo tells us: "THERE WILL BE GENIUS MADNESS TEARS TRIUMPH AND WOW"
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The Block Glasshouse promos released, series coming soon

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The passing of the legislation repealing the carbon tax has been welcomed by the Housing Industry Association, who say they have been vocally opposed to the tax since its creation.
HIA chief executive industry policy and media, Graham Wolfe, said that it is a barrier for the industry. Previously, they had c<a href="/news/hia-urges-the-federal-government-to-scrap-the-carbon-tax">alled on the government to scrap it, calling it a “bad tax”, and asking for transparency over the costs added to a new home</a>.
"HIA has advocated against the carbon tax since its inception, as it represents yet another impost on one of the most heavily taxed sectors in the economy," said Wolfe.
"The repeal of the tax was a key part of HIA's 2013 federal election platform to help revive the housing industry."
He noted that it has had direct impact on energy production costs, which in turn had a flow-through effect onto manufacturing and fabrication phases for building material, product and assembly production.
Wolfe says that this drove up the prices of new homes, through manufacturing, jobs and material input costs.
In 2011, they had <a href="/news/carbon-tax-to-add-6-000-to-new-home-costs-hia">estimated the additional cost to a new home at $6,000</a>.
However, <a href="/expert-insights/investing/carbon-tax-wont-increase-housing-costs-much-stockland">Stockland had said that the additional costs would be closer to $2,500</a> – or just 0.6% of their house and land packages.
Property Observer is keen to see if any new home developers actually do reduce the costs of their developments' offerings as a result of the repeal.
RELATED STORIES:
<a href="/news/carbon-conscious-homebuyers-should-be-spared-tax-industry-bodies">Carbon-conscious homebuyers should be spared tax: industry bodies</a>
<a href="/expert-insights/investing/more-than-half-of-potential-home-buyers-put-off-by-spectre-of-carbon-tax">More than half of potential home buyers put off by spectre of carbon tax</a>
<a href="/expert-insights/investing/scaremongering-over-the-carbon-tax-just-a-lot-of-hot-air">Scaremongering over the carbon tax just a lot of hot air</a>
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Carbon tax repeal part of HIA plan to revive housing industry

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Carrying on from our last column, this week we'll look at what can be an area of contention for a property developer - team Selection.
Each week I receive phone calls from people who have started a property development and then fallen into trouble.  I can't help taking these SOS calls from fellow developers but I've noticed a pattern... there seems to be three different areas in which the issues fall:
<ol>
<li><a href="/expert-insights/the-three-most-common-first-time-property-developer-mistakes-site-selection">Site selection</a> </li>
<li>Team selection</li>
<li><a href="/expert-insights/the-most-common-first-time-property-developer-mistakes-not-understanding-the-development-process">Not understanding the development process</a> </li>
</ol>
Not selecting the right development team is the next most common cause of grief to developers.
Who do I need on my Development Team? 
<ul>
<li>Property specialist accountant and solicitor - don't scrimp on important advice.</li>
<li>Finance broker or personal banker - to get the best finance deal possible.</li>
<li>Surveyor - for your identification and contour surveys and to manage subdivisions.</li>
<li>Architect/draftsperson - look for a cost effective construction design.</li>
<li>Builder and other tradesmen; plumber, electrician, carpenter.</li>
<li>Consultants such as an engineer and private certifier.</li>
<li>Quantity surveyor for your depreciation schedules and cost reports.</li>
<li>Development project manager  – to guide you through the process, share their experience and bring savings to the project. </li>
</ul>
A lovely lady called Lily phoned me recently to tell me all about her incredibly bad experience with a builder she'd used on a large renovation project.
I was absolutely astounded by some of the things she told me. She'd reached the stage where the renovation was finished but there were so many ongoing issues that she decide to take the builder to court which was an expensive process. All the points she raised were very valid, however she did not win the case as she had 'insufficient evidence' to support her case. 
It is hard to know what builder to choose, and I have used a number of different builders over the years Property Bloom has been managing developments. Funnily enough, the very first builder I selected and used on our very first development project is still my builder of choice.
But over the years, I have tried a number of different builders and had numerous builders tender on our projects. The worst experience we've had was when one of the builders we used, on their fourth construction project with us, went into receivership without any warning.  That was not a great situation to have to manage.  In hindsight, there were warnings; slowing down on progress, disgruntled tradies and lots of vague responses to our investigative enquiries. We would turn up on site for our weekly site inspection only to find the site manger 'off sick'. When this happened twice in a row, we really started to hound the builder's head office, with most calls going to voice message.
I tracked down a carpenter I knew worked for the builder and asked if he'd seen the site manger lately or knew what was going on?  He very quickly let out a stream of obscenities and I soon gathered he had not been paid for the past four weeks!  
Now alarm bells were ringing in my head.
Sure enough the next week we were informed building company had collapsed. I could not get hold of the managing director who only a month before met me for coffee to see when the next project may be coming on.
It's hard to know what's going on inside a business but keep a look out for any small signals. Before you engage a builder, interview them not just about their track record in completing projects but ask about their financial position.  Ask what kind of 'float' they have in the bank and would they mind passing on their bank manager's phone number for you to make enquiries. These are very direct questions  and not many builder's will like it but the ones that have no issue with you making these enquiries in general should be OK to work with. Check they are an active member of the Housing Industry of Australia and check in with the Department of Fair Trading to ensure there has been no complaints lodged against them.
Also, ask the builder for a list of the current contractors or tradies and contact them to ask what the builder is like to work for? Does he pay promptly?  And are they planning to continue working for this builder?  If a tradie has been crossed, he will tell you all about it!
 After my bad experience with the liquidated builder many years ago, I rang my 'old tried and trusted' builder and said that I needed to know if they were OK financially. The next thing I know, there's an email in my inbox from the local Commonwealth Bank Manger just letting me know that this builder is in a good financial position. 
Our builder is like a business partner in a way. They offer our clients a good deal based on the volume of business we bring them and we know by working closely with them that their systems and processes are efficient. Our long standing relationship means we have open access to their entire team and we can always find an answer to a question or solution to a problem within a short time.
As project managers, our job is to manage our clients projects to bring in the best results. I know that nurturing relationships is important. By letting our team know how much we value working with them and continuing to nurture our ongoing relationship we get the best results for everyone.
<a href="https://www.propertybloom.com.au" target="_parent">www.propertybloom.com.au</a>
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The most common first time property developer mistakes: Team selection

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Analysis of changes in the median value of houses in suburbs within 20 kilometres of the CBD over the medium-term shows some interesting trends.
In order to smooth out some of the volatility present in the short-term this analysis focuses on median value growth over a five year period.
The data shows that owners at a range of price points and locations have recorded very healthy increases in value. There are three suburbs with median values in excess of $1 million in the top 10 list based on median value growth over the past five years. These three suburbs, <a href="/news">Hawthorn East</a>, <a href="/news">Middle Park</a> and <a href="/news">Ashburton </a>have all recorded a rise in median values of more than 45% over the five years to May 2014.
Hawthorn East tops the list with an increase of 78% over the past five years, but is followed by a much more affordable location in second place. <a href="/news">Watsonia</a> recorded a 63% rise and with a median house value less than a third of Hawthorn East, this shows good capital growth can be found at a range of price points.
Third on the list is <a href="/news">Derrimut</a>, however as a growth suburb underlying values are driven by new home development across the suburb.
Fourth on the list is <a href="/news">Pascoe Vale South</a> with a 54% rise. It is a suburb which is undergoing significant change and is seeing values boosted by the good transport options and well-sized blocks.
Other suburbs on the list can be seen below but it is worth highlighting <a href="/news">Northcote</a>, as it is representative of the gentrification underway in the inner north of Melbourne.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/vic-blog-best-suburbs-for-cap-growth.jpeg" rel="wp-prettyPhoto[g3494]"><img class="aligncenter size-full wp-image-3495" src="https://blog.rpdata.com/wp-content/uploads/2014/07/vic-blog-best-suburbs-for-cap-growth.jpeg" alt="Table - Best suburbs for capital growth within 20k of CBD" width="334" height="284"></a>
Melbourne Auction Market preview for week ending 20 July
There are 590 auctions scheduled this week in Melbourne compared to 519 for the same time last year. The highest number of auctions is expected in the northern suburbs where 16 are expected in <a href="/news">Reservoir</a>.
Seasonally low volumes are not only a factor in the auction market with the overall level of new listings also being lower than a year ago. In Melbourne there were 4.9% fewer homes listed for sale over the last month and 8.8% fewer homes overall on the market.
Fewer homes on the market than a year ago is a positive sign, especially from a sellers’ point of view, however the lower number of new listings may put pressure on prices if it persists and buyer numbers remain at current levels
The average time on market for houses sold last month rose slightly from 40 to 41 days. Similarly, vendor discounting increased from -5.3% the previous week to -5.4% last week.
Key data
<ul>
<li>
Clearance rate week ending 13 July: 66.4%
</li>
<li>Melbourne auctions expected week ending 20 July: 590</li>
<li>Melbourne private sales time on market week ending 13 July: 41 days (houses)</li>
<li>
Melbourne vendor discounting market week ending 13 July: -5.4% (houses)
</li>
<li>
Listings being prepared for market are 1% lower over the month ending 13 July (seasonally adjusted)
</li>
</ul>
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Melbourne's best capital growth suburbs: RP Data's weekend Melbourne auction preview

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North Ryde, Sydney’s Macquarie Centre’s $440 million redevelopment has seen the first stage open as part of the AMP Capital’s Shopping Centres $2.8 billion development plan.
The <a href="https://www.macquariecentre.com.au" target="_blank">Macquarie Centre</a> is located in a total trade area of 337,770 people that expects to reach $6 billion in retail spending by 2021, explained AMP Capital Shopping Centres’ managing director Byran Hynes. He noted that the north-west corridor is the new capital of household wealth in Sydney.
The project’s second stage, set to be complete for this Christmas’ shopping season,will see the centre increase by 38,000 square metres to a new 138,500 square metre total, or the largest shopping centre in suburban Sydney.
“Today we have unveiled, ahead of schedule and on budget, more than 37 food and specialty retailers, 29 of which are new to Macquarie Centre,” he said.
“The centre will offer our customers a one-stop-shop for fresh food, specialty Asian food stores and market-style restaurant options from local producers.”
The first stage includes a Fresh Food Market precinct with Coles, ALDI and a refurbished Woolworths in residence. Costis Seafood Market Macquarie, Inlakesh Living Foods and F &amp; L Gourmet are eateries available.
The centre has also been redeveloped to include a 21-metre curved digital panel, which they note is a first nationally, that is for advertising and other content.
“Consumers are savvier yet more time poor than ever before and are craving distinct experiences in unique environments where they feel special.  We’re transforming Macquarie Centre into a leading contemporary urban centre, offering diverse experiences to the students, residents and workers in the area,” said Hynes.
On completion, international designers and Australian designers, as well as David Jones, will be in residence.
{qtube vid:=yrkUzoGNdbE}
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Sydney's largest suburban shopping centre, AMP Capital's Macquarie Centre, now open

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Overpriced, or undervalued? Despite suffering the biggest price cuts in the country, some homes just won't sell.
<a href="https://www.sqmresearch.com.au" target="_blank">SQM Research</a> has gathered the 10 most heavily discounted homes in the country.
<ol>
<li>
<a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-ellen+grove-114951879" target="_blank">38 Considine Street, Ellen Grove, Queensland</a>
<img src="/images/2014/07/09/1.jpg" alt="">
38 Considine Street has the dubious honour of retaining top place on the discounted list this week. The brick house on a 1.57 hectare flat block has been on the market for 253 days now, despite a 43% price cut. It was initially listed at $1.4 million and now has a $799,000 price tag.
</li>
<li>
<a href="https://www.realestate.com.au/property-residential+land-wa-carabooda-200627671" target="_blank">292 Carabooda Road, Carabooda, Western Australia</a> 
<img src="/images/2014/07/17/caraboo.jpg" alt="">
Making its debut on the discount list, this 7.1 hectare farm has seen its price lopped by 37% from $1.65 million to $1,032,000. A three bedroom cottage sits on the property, with a big double garage, with water supplied by an on-property bore. In its listing, selling agent Thomas Massam of Harcourts Alliance Joondalup suggests buyers could grow fruit and veggies on the property, or "build a tennis court".
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-richmond-114883299" target="_blank">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
The historic Mill House in Richmond, Tasmania, sits along the convict-built Richmond Bridge. It seems vendors overestimated market demand by a clean million, with the price tag dropping 36% from $2.8 million to $1.8 million. The estate's main house includes four bedrooms and bathrooms, a formal living and dining area, sunroom and cellar. The listing agent advises that the house has a "convict brick feature wall", a formal living and dining area, sunroom and cellar. The vendors, who according to the listing information have experienced a "change of circumstances" which have "significantly increased [their] motivation", are also open to selling the adjoining plot.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-carabooda-114289451" target="_blank">219 Bernard Road North Carabooda, West Australia</a>
<img src="/images/2014/07/09/3.jpg" alt="">
This rural property has been discounted by 35%, with its asking price now $2,272,000, down from $3.5 million. The Bernard Road farming property shares a listing agent with its Carabooda cousin on the list, the heavily discounted 292 Carabooda Road. Set on 15 hectares of farm land, the property has a 36,000 kilolitre water license. The dual lot property features a brick and tile home and farm sheds on one plot, and a "home in disrepair" on another.
</li>
<li>
<a href="https://www.raywhite.com/nsw/michelago/668779/" target="_blank">76 Tinderry Road, Michelago, New South Wales</a>
<img src="/images/2014/07/09/4.jpg" alt="">
On the market for 988 days, this rural property near Canberra has had its price cut from $1.9 million to $1.25 million. The Michaelago creek supplies water to the property, with two dams on the land. An original 1925-era home, requiring significant renovations, stands on the property. The listing information states: "The property is ideally suited to run livestock with some areas having had some pasture improvement in previous years, although this was some time ago and would likely need to be revisited."
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-doubleview-116544475" target="_blank">1 Princess Road, Doubleview, West Australia</a>
 <img src="/images/2014/07/09/5.jpg" alt="">
This property in Perth’s Doubleview has been discounted by 33%, with its price now at $1.8 million (down from $2.7 million). Advertised as having subdivision potential, the current cottage and granny flat on the plot are described as “very rentable during the development phase” in the listing information.
The vendors purchased the 1,412 square metre plot 1 Princess Road for $150,000 in 1990, hoping now to secure more than 10 times what they paid.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank">21 Cotton Court, Strathalbyn, South Australia</a>
<img src="/images/2014/04/30/strathalbyn.jpg"> 
After a 32% price cut, the owners of this Strathalbyn home are now seeking $339,000. The house has been on the market for nearly three years. It was purchased by the owners for $118,000 in 1995.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-battery+point-108230936" target="_blank">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
The former Albuera Art School now houses this luxury renovated apartment, priced at $1.5 million. It's been on the market for more than two and a half years, with an initial asking price of $2.2 million. The three bedroom apartment has a combination of heritage and new features, with polished timber floors and pressed metal ceilings. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-green+point-114436679" target="_blank">99 Green Point Drive, Green Point, New South Wales</a>
<img src="/images/2014/04/30/green%20point%20drive.jpg">
This contemporary New South Wales home is a discount list staple. After 1,381 days on the market (more than three and a half years) and a 31% price cut, it still hasn't secured a buyer. The home on the Central Coast was originally listed at $1.15 million but vendors are now asking for $795,000. Originally designed as a bed and breakfast, the lakefront home now functions as a hair salon. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-bar+point-113991687" target="_blank">53 Kalinda Road, Bar Point, New South Wales</a>
<img src="/images/2014/07/09/9.jpg" alt="">
A two cabin offering set above a waterfront reserve on the Hawkesbury River has been on the market for 591 days. The steep property houses one two bedroom cabin with a kitchen and living area, and another with a bedroom and bathroom. Its asking price has dropped 30%, from $280,000 to $195,000.</li>
</ol>
</body></html>

The 10 most discounted homes in Australia: SQM Research

<html><body>
Richmond is Melbourne's most active inner ring auction suburb, according to the REIV.
South Yarra ranked second, nine auctions fewer, in the top 10 auction suburbs in inner Melbourne are as follows (as at 6 July 2014).
Last weekend Richmond's highest price was <a href="https://www.domain.com.au/property/for-sale/house/vic/richmond/?adid=2011253785" target="_blank">19 Charlotte Street</a> (pictured above) sold at $1,363,000.
The cheapest was $390,000<a href="https://www.domain.com.au/property/sold/apartment-unit-flat/vic/richmond/?adid=2011254550" target="_blank"> at 2/16 Rowena Street for a one bedroom unit</a>.
<img src="/images/2014/07/17/richmond%20july%2017%20two.jpg" alt="">
<table style="width: 460px;" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
Suburb
</td>
<td valign="middle">
Total Auctions 
</td>
<td valign="middle">
Sold at Auction
</td>
<td valign="middle">
Clearance Rate
</td>
</tr>
<tr>
<td valign="middle">
Richmond
</td>
<td valign="middle">
248
</td>
<td valign="middle">
193
</td>
<td valign="middle">
78%
</td>
</tr>
<tr>
<td valign="middle">
South Yarra
</td>
<td valign="middle">
239
</td>
<td valign="middle">
176
</td>
<td valign="middle">
74%
</td>
</tr>
<tr>
<td valign="middle">
St Kilda
</td>
<td valign="middle">
235
</td>
<td valign="middle">
145
</td>
<td valign="middle">
62%
</td>
</tr>
<tr>
<td valign="middle">
Glen Iris
</td>
<td valign="middle">
220
</td>
<td valign="middle">
172
</td>
<td valign="middle">
78%
</td>
</tr>
<tr>
<td valign="middle">
Preston
</td>
<td valign="middle">
210
</td>
<td valign="middle">
144
</td>
<td valign="middle">
69%
</td>
</tr>
<tr>
<td valign="middle">
Kew
</td>
<td valign="middle">
191
</td>
<td valign="middle">
144
</td>
<td valign="middle">
75%
</td>
</tr>
<tr>
<td valign="middle">
Hawthorn
</td>
<td valign="middle">
189
</td>
<td valign="middle">
140
</td>
<td valign="middle">
74%
</td>
</tr>
<tr>
<td valign="middle">
Northcote
</td>
<td valign="middle">
183
</td>
<td valign="middle">
152
</td>
<td valign="middle">
83%
</td>
</tr>
<tr>
<td valign="middle">
Brunswick
</td>
<td valign="middle">
180
</td>
<td valign="middle">
133
</td>
<td valign="middle">
74%
</td>
</tr>
<tr>
<td valign="middle">
Camberwell
</td>
<td valign="middle">
180
</td>
<td valign="middle">
154
</td>
<td valign="middle">
86%
</td>
</tr>
</tbody></table>
Source: REIV
</body></html>

jchancellor-FAypfDUnLy

Richmond tops ladder for most auctions: REIV

<html><body>
Australia Post boss Ahmed Fahour has sold his six bedroom Kew mansion.
Settlement documents show $7,072,500 was achieved for the Sackville Street home, set on a double block with court and pool.
<a href="https://www.sackvillestkew.com.au/gallery" target="_blank">The property was listed last August by </a><a href="https://www.sackvillestkew.com.au/gallery" target="_blank">Australia's highest-paid public servant</a>, settling earlier this year.
The three level mansion, built in 2006 after the subdivision of a former monastery site, was marketed with $7 million plus private treaty hopes through Paul Pfeiffer and Warwick Anderson at RT Edgar.
It was built by Montage Developments with "epic space and understated opulence" throughout the "resort style" estate, complete with outdoor kitchen, self contained cottage, swimming pool, spa, steam room and north/south flood lit championship court.
The estate covers 2,027 square metres. 
It is the fifth house on Sackville Street sold for $5 million plus, with the top sale being historic, La Verna at $12 million in 2007. 
La Verna, the 1880s Italianate-style residence now on 3,310 square metres, had been long owned by the Franciscan Friars who sold to developers several years earlier. 
Ahmed and Dionnie Fahour were the mystery buyers behind the $22 million sale of Invergowrie, the historic bluestone home in Hawthorn that was an exclusive finishing school for young women.
The off market sale of the imposing mansion made headlines in April 2013 on Property Observer with the buyer undisclosed using solicitors, Arnold Bloch Leibler as their intermediaries
The subsequent $22 million sale documentation has been through a holding company whose address and directors are from the office of the solicitors.
Peter Hill, the skateboarding Globe International co-founder and his wife, Angela sold the colonial-gothic style Invergowrie mansion that sits on 1.1 hectares.
It had cost $10.75 million in 2002. 
Invergowrie (pictured below) is listed on the Victorian Heritage Register.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/04/invergowrieapril24one.jpg" alt="invergowrieapril24one" width="470" height="303">
</body></html>

Change of address as Ahmed Fahour sells Kew mansion for $7 million

<html><body>
The Reserve Bank has been giving a rolling seminar on why economists don’t get real estate.
This has taken the form of speeches by the Guv, Glenn Stevens, and press releases on RBA research and opinions.
The RBA view of residential real estate is a bible for economists, containing various commandments with which most economists comply. They include:
<ul>
<li>There is just one property market in Australia;</li>
<li>Sydney is Australia;</li>
<li>Australians are naughty because they like to invest in real estate;</li>
<li>They’re even naughtier when they borrow to do it;</li>
<li>When property prices rise we’re all very naughty and deserve a smack;</li>
<li>We’re all stupid because we think property prices always rise;</li>
<li>Buying a home is, or should be, a financial decision and emotion or culture shouldn’t intrude;</li>
<li>Financially it’s smarter to rent so how come we all don’t want to rent; and</li>
<li>We’re not building enough houses because that’s what our charts say.</li>
</ul>
Stevens has been getting out and about delivering his core message, which I suspect he lifted from the pages of Real Estate for Dummies. This is - wait for it, drum roll please -“property prices don’t always go up”!
Many media outlets have breathlessly reported that Stevens “has warned home buyers that people should not assume that prices always rise”. Just in case we haven’t got it, he drives home the message with this thunderbolt of wisdom: “Sometimes they fall!”
This is why Stevens earns the big money. He understands things the masses do not.
Seriously, is there anyone in Australia above the age of 11 who doesn’t know that property prices sometimes fall? Maybe someone who’s been meditating in a cave in the Himalayas might have missed the general decline in prices from 2010 to 2012. In my experience, most Australians have a hyper awareness of the value of their home, especially when it’s in reverse.
These days we have not only quarterly and monthly price monitors, we have attention-seekers claiming they can chart weekly price changes, even daily. Pretty soon we’ll have minute-by-minute price barometers.
And all these sporadic movements in prices, both up and down, have been reported ad nauseum by a gullible media.
According to some sources, prices have dropped three times in the past six or seven months.
Why does Stevens think none of us have noticed? He has intoned the “prices don’t always rise” sermon several times recently. Obviously he doesn’t get the emails I get, from people who bought five years ago on the Gold Coast and watched their investment steadily decline in value. Or from people who own Noosa apartments. Or from people who bought during the Gladstone boom and are now dismayed at the drop in values. Or from those who own real estate in Mackay, Moranbah, the Hunter Valley, Port Hedland, Karratha and Broome.
Or people who own a home in Canberra, where values in some areas are now going south.
Another offering of economist-centric advice from the RBA is that we might all be better off renting than investing. According to an RBA research paper, it’s only if prices rise 2.9% or more annually that it may be worth owning your home.
I wonder why they bothered with this research. Nothing better to do? It’s only when you understand that this is the work of economists that it makes any sort of sense.
This really is at the heart of why economists struggle to understand real estate. They think it’s about economics. They get a tad vexed when it doesn’t behave.
Most households don’t give a damn whether home ownership makes economic sense or not. It’s not about economics. It’s about culture. It’s about how they want to live.
According to the logic of the RBA research, unless values are rising around 3% a year on average it’s not worth owning. On this basis, nobody should own a home in Sydney, because it’s capital growth rate over 10 years has barely managed that level. How have so many people got it so wrong?
The RBA paper speculates that price growth in the future will be less than in the recent past, in which case we ‘d all be better off financially if we rented.
One question: price growth where? Everywhere in Australia? Price growth everywhere will be too low to justify home ownership?
This brings us back to one of my original points - that one of the great weaknesses of the RBA and economists generally is that they see Australia as one homogeneous market. That’s why they’ve looked at the national average price growth figure - not for Australia, mind you, but for the eight capital cities - and concluded that because the city average is 10% Australia has been having a real estate boom, oblivious to the reality - that only one city has had growth that big.
They really don’t get it.
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>

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