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>
Reserve Bank of Australia research has suggested that house prices would have to continue to rise at the same rate as over the last six decades for property owners to be as well off financially as renters.
Home ownership is more attractive the longer a house is owned, because transactions costs are amortised over a longer period, it concluded.
Assuming real house prices increased at the historical 2.4%, after inflation, buying beats renting when the owner held for more than eight years.
But with the 1.7% rate, after inflation, experienced over just the past 10 years, owning only beat renting over an ownership period longer than 30 years.
“Consistent with conventional wisdom, households expecting to move again in a few years’ time are better off renting, unless they believe they can sell the property for an unusually large capital gain,” the 45 page research paper said.
"We find that if real house prices grow at their historical average pace, then owning a home is about as expensive as renting.
"If prices grow more slowly, as some forecasters predict, the framework used in this paper suggests that the average home buyer would be financially better off renting.
"We decompose house prices into contributions from rents, interest rates and expected capital gains, which may help policy makers in the detection of housing bubbles.
"Recent data do not show signs of a bubble," the RBA researchers Ryan Fox and Peter Tulip suggested.
Given that individual circumstances vary, the paper noted that no-one should base personal investment decisions solely on the estimates. 
The key limitation within the paper, the RBA noted was that it focused on owner-occupied purchases, as investors in housing may be better off because of tax reasons.
The RBA also noted non-financial benefits such as security of tenure, pride of ownership and freedom to renovate.
Real house prices have increased at an average annual rate of slightly less than 21⁄2 per cent since 1955.
"If this rate of appreciation is expected to continue then our estimates suggest that houses are fairly valued.
"Forecasting house price growth is subject to considerable uncertainty.
"That said, many observers have suggested that future house price growth is likely to be somewhat less than this historic average.
"In that case, at current prices, rents, interest rates and so on, the average household is probably financially better off renting than buying."
It noted overfall prices were overvalued in the early 2000s, becoming undervalued in the second half of the decade, then switching back to overvalued following the global financial crisis. 
The discussion paper series is intended to make the results of the current economic research within the Reserve Bank available to other economists. Its aim is to present preliminary results of research so as to encourage discussion and comment. 
The views expressed are those of the authors and not necessarily those of the Reserve Bank. 
</body></html>

jchancellor-FAypfDUnLy

No property bubble, but RBA pinpoints the possible future wisdom in renting

<html><body>
Australia's top 20 hotspots for both population growth and residential construction have been identified by the Housing Industry Association Economics Group in their Population and Residential Building Construction report.
To make the list, suburbs were required to have a population growth rater faster than the national average, as well as approved residential building work in excess of $100 million, for regions in New South Wales, Queensland, Victoria and Western Australia, or in excess of $50 million for South Australia. The Northern Territory and ACT were required to record over $20 million. In Tasmania the threshold was $5 million.
The report notes that with such a high population growth at a national level, or 1.8%, just 698 suburbs came above this, with just 50 falling into the required building work level.
“In terms of building work approved, the Waterloo-Beaconsfield area in Sydney’s inner south recorded the greatest value of new residential work approved with $513.2 million during the year. Being an area with a relatively large population already, the 4.6% growth in the population in 2012/13 is impressive but is not sufficient to rank among the top 20 hot spots nationally,” the report explains.
“Three new suburbs in the ACT took out the top three spots on the list this year, with Crace leading the way followed by Bonner (top of last year’s list) and Casey. All three of these areas recorded population growth in excess of 40% in 2012/13. The high rate of growth reflects a stage in the emergence of a new suburb whereby households are moving into their new homes in an area which had previously been unoccupied vacant land.”
This is therefore an irregular situation seeing ACT take out the top three spaces, and if they had not then Victoria’s Brunswick East, Craigieburn-Mickleham and Queensland’s Clinton-New Auckland would have achieved bottom spaces on the top 20.
Their top 20 hotspots (Statistical Area Level 2):
<ol>
<li><a href="/news">Crace</a> ACT (58.1%) </li>
<li><a href="/news">Bonner</a> ACT (43.3%) </li>
<li><a href="/news">Casey </a>ACT (40.6%)</li>
<li><a href="/news">Melbourne </a>VIC (22.7%)</li>
<li><a href="/news">Abbotsford </a>VIC (19.7%)</li>
<li><a href="/news">Forrestdale</a>/<a href="/news">Harrisdale</a>/<a href="/news">Piara Waters</a> WA (19.1%)</li>
<li><a href="/news">Cranbourne East</a> VIC (16.5%)</li>
<li><a href="/news">Baldivis </a>WA (15.8%)</li>
<li><a href="/news">Docklands </a>VIC (15.3%)</li>
<li><a href="/news">Yanchep </a>WA (14.8%)</li>
<li><a href="/news">Parklea</a>/<a href="/news">Kellyville Ridge</a> NSW (13.3%)</li>
<li><a href="/news">South Morang</a> VIC (12.6%)</li>
<li><a href="/news">Truganina </a>VIC (11.0%)</li>
<li><a href="/news">Cobbitty </a>– <a href="/news">Leppington </a>NSW (10.8%)</li>
<li><a href="/news">Ellenbrook </a>WA (9.3%)</li>
<li><a href="/news">Homebush Bay</a>/<a href="/news">Silverwater </a>NSW (9.2%)</li>
<li><a href="/news">Epping </a>VIC (9.1%)</li>
<li><a href="/news">Deeragun </a>QLD (8.9%)</li>
<li><a href="/news">North Lakes</a>/<a href="/news">Mango Hill </a>QLD (8.8%)</li>
<li><a href="/news">Point Cook</a> VIC (8.7%)</li>
</ol>
Source: HIA
Interestingly, the report also notes that there have been strong leading indicators of activity in New South Wales and Western Australia, as well as improving signs for Queensland.
These developments, however, are past this report’s cut off and will perhaps alter the list in next year’s.
</body></html>

jduke-EHk3XBmHkn

List of the day: Top 20 building and population hotspots

<html><body>
The median price of a house in Adelaide was $420,000 for the quarter to June, according to RP Data-Rismark.
Property Observer looks at the city's recent sales to see what exactly that sum will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-terrace-sa-woodville+west-115717987" target="_blank">14 Smith Avenue, Woodville West</a> <img src="/images/2014/07/14/1.jpg" alt=""> This house in Adelaide's western suburbs sold for $425,000 in May. With a 782 square metre plot, the listing information stated: "Build two and live in one! Sell the other! Divide the land and sell! Rent the current home out knowing you can develop later on." The existing house is a 1950s era three bedder. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-flinders+park-116815535" target="_blank">77 Hartley Road, Flinders Park</a> <img src="/images/2014/07/14/2.jpg" alt=""> This three bedroom brick house sold for $417,000. With carpeted bedrooms and tiled living areas, the house was described as "quirky and quaint" by the listing agent, who also suggested a subdivision, given the 600 square metre plot. Price: $417,000 Bedrooms: Three Drive to CBD: 12 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-marden-115839839" target="_blank">3 Glenbrook Close, Marden</a> <img src="/images/2014/07/14/3.jpg" alt=""> Sold for $423,500 in April, this Marden home has three bedrooms and one bathroom. It has floorboards throughout and a substantial backyard, with a carport. The home is located near Willow Bend Rserve along the River Torrens. Price: $423,000 Bedrooms: Three Drive to CBD: 14 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-semaphore+park-117081607" target="_blank">16 Third Avenue, Semaphore Park</a> <img src="/images/2014/07/14/4.jpg" alt=""> Described as a "good candidate to be demolished" by the selling agent, this two bedroom home sold for $420,000 in June. The two bedroom, one bathroom house has, according to the agent, "been in the family for many years". Price: $420,000 Bedrooms: Two Drive to CBD: 23 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-birkenhead-116866711" target="_blank">7 Mead Street, Birkenhead</a> <img src="/images/2014/07/14/5.jpg" alt=""> This 1870s era terrace near the beach sold for $425,000. The two storey home has a bay window, timber joinery, a cast iron balustrade and blue stone walls. There is a newly built extension on the house, with a tiled open plan living area and new bathroom, laundry and toilet. Price: $425,000 Bedrooms: Three Drive to CBD: 22 minutes</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

What can you buy for Adelaide's median house price?

<html><body>
The third building in Parramatta’s $550 million Promenade development from Starryland Australia has been released, bringing 153 apartments to market.
On the northern bank of the Parramatta River, they follow Promenade’s first two buildings with 124 apartments, that sold out in May 2014 at launch.
The first two towers are currently under construction, expected to complete in late-2016.
It is expected that 11 towers will be built in total by Starryland Australia, which was <a href="/expert-insights/buying/chinese-developer-taking-550-million-step-into-sydney-with-11-towers-in-parramatta">established by the 23rd largest publicly-listed company in China, Fuxing Huiyu Real Estate Co Ltd</a>.
A display centre at 1/28 Macquarie Street has been built for Building Three.
Marketing the project is Savills Residential, who expect interest from investors and owner occupiers.
Director of Savills Residential Projects, Irene Lau, said that there had been many young couples making their first property purchase.
“For business people the close proximity to transport, dining, shopping and recreational facilities were influencing factors,” said Lau.
Each apartment will have a balcony or courtyard, with the entire development to have 1.2 hectares of landscaped open space, a pedestrian bridge over the river and a walking/cycling network.
There will be six one-bedroom apartments, from $440,000 with 44.2 square metres to 49.4 square metres. Those with studies, of which there are another 17, are from $465,000, and span 46.7 square metres to 69.9 square metres.
The majority will be two-bedroom apartments, with 125 up for sale from $585,000. They are sized from 63.1 square metres to 98.8 square metres. Lastly, there will be five three-bedroom apartments from 83.8 square metres to 112.4 square metres, and priced from $850,000.
Each apartment has one or two secure car spaces, with 70 visitor slots allocated.
Parramatta Lord Mayor John Chedid said that it’s an exciting development and called it a “welcome addition to our expanding skyline”.
<a href="/expert-insights/buying/slab-to-be-set-on-highest-residential-tower-in-parramatta-v-by-crown-today">Chedid previously was on site at nearby V by Crown development</a>, excited for the new developments in Sydney’s “second CBD”.
</body></html>

Third building released in $550 million Parramatta Promenade project

<html><body>
ACT real estate agent Mark Blinksell, ex-director of Grapevine Property &amp; Business, has been fined $10,000 after using a client’s deposit from a trust fund to pay down his own mortgage.
In February, <a href="/news/act/canberra-agent-s-license-cancelled-after-taking-trust-money-to-fund-home-loan">Property Observer reported that Blinksell had his license cancelled for five years</a> and had been disqualified for applying for a real estate of business salesperson’s registration for three years after he was found guilty of engaging in dishonest conduct by misapplying deposit monies received in 2013.
The deposit funds, that had been received around 7 January, 2013, in his role as vendor’s agent, were effectively stolen. He subsequently misrepresented and lied about where the funds were. He had been engaged by the vendor in October 2012, and received $22,000 in a deposit cheque from the buyers in the January.
Blinksell was given a six-month suspended jail sentence and a three year good behaviour bond. He had paid back the money with interest.
ACT Commissioner for Fair Trading Brett Phillips said that the ACT government takes real estate agents’ breaches of the law seriously.
"Real estate agents regularly handle large sums of money for their clients, and it is vital that they understand the gravity of such a responsibility," said Phillips.
Blinksell had operated Grapevine since 2009. He previously held positions at Mirvac and Capital Property Trust.
</body></html>

Agent fined for using client’s deposit to pay off own mortgage

<html><body>
Bankstown, 20 kilometres south-west of Sydney, is seeing the introduction of 54 apartment creation Bankstown Gardens, from architect Tony Owen and property developer JR Investment Group.
Aiming to be favourable to the investor crowd, and to owner occupiers, the <a href="https://www.cpmrealty.com.au/Buying/Search/Detail.aspx?id=3670&amp;wlid=274f147d-d2b9-4c0b-a8c7-73d07f77daab" target="_blank">Bankstown Gardens</a> development offers one, two, and three bedroom apartments spanning the eight storey block.
Sales commence this month, with one bedrooms from $385,000, two bedrooms from $466,000 and three bedrooms from $588,000. It appears the prices span to $670,000.
<img src="/images/2014/07/14/Bankstown%20Exterior.jpg" alt="">
The current median price for <a href="/news">Bankstown</a> units is $362,000 with median advertised weekly rent at $390.
Located on 6-8 Cross Street, they are a 10 minute walk from Bankstown Station.
Marketing the project is CPM Realty, with managing director Sam Elbanna noting that the idea is to bring city living to Bankstown. 
“There is a new level of sophistication spreading throughout Sydney and people are clamouring for a luxury style development in more affordable locations. This is what we are delivering in Bankstown Gardens,” said Elbanna.
The development has a completion expectation for early 2016.
In 2011, total works were expected to amount to $12,500,000. It appears it took some time to get approval from council.
</body></html>

Bankstown Gardens development bringing 54 apartments to market

<html><body>
Craigieburn was the outer Melbourne suburb with the most auctions in the first six months of this year.
There were 107 auction offerings with a subsequent 71% success rate under the hammer, according to the Real Estate Institute of Victoria.
"It did not even make it into the top 10 last year," the REIV chief Enzo Raimondo said.
Craigieburn is 26 kms north of Melbourne's central business district, in the local government area of the City of Hume.
There were three on the weekend, with two passed in, with a $380,000 pre-auction sale of 6 Tusmore Rise (pictured above). 
TOP 10 HIGHEST NUMBER OF AUCTIONS MELBOURNE OUTER SUBURBS – FIRST HALF 2014
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
Suburb
</td>
<td nowrap>
Total Auction
</td>
<td nowrap>
Sold at auction
</td>
<td nowrap>
Clearance rate
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">CRAIGIEBURN</a>
</td>
<td nowrap>
107
</td>
<td nowrap>
76
</td>
<td nowrap>
71%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">WHEELERS HILL</a>
</td>
<td nowrap>
95
</td>
<td nowrap>
70
</td>
<td nowrap>
74%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">PARKDALE</a>
</td>
<td nowrap>
91
</td>
<td nowrap>
69
</td>
<td nowrap>
76%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">RINGWOOD</a>
</td>
<td nowrap>
80
</td>
<td nowrap>
66
</td>
<td nowrap>
83%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">MORNINGTON</a>
</td>
<td nowrap>
71
</td>
<td nowrap>
40
</td>
<td nowrap>
56%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">NOBLE PARK</a>
</td>
<td nowrap>
71
</td>
<td nowrap>
45
</td>
<td nowrap>
63%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">RYE</a>
</td>
<td nowrap>
68
</td>
<td nowrap>
35
</td>
<td nowrap>
52%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">MULGRAVE</a>
</td>
<td nowrap>
67
</td>
<td nowrap>
56
</td>
<td nowrap>
84%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">ROSEBUD</a>
</td>
<td nowrap>
67
</td>
<td nowrap>
36
</td>
<td nowrap>
54%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">KEYSBOROUGH</a>
</td>
<td nowrap>
62
</td>
<td nowrap>
35
</td>
<td nowrap>
57%
</td>
</tr>
</tbody></table>
Source REIV
Recent results at Craigieburn included:
<img src="/images/2014/07/14/jc-july-14-one.jpg" alt="">
The REIV is expected about 540 auctions across 226 Melbourne suburbs this weekend.
There was a 74% success rate based on initial returns, up compared to 71% last weekend and 73% this weekend last year. 
"Aside from the clearance rate, the strength of demand from buyers can also be gauged from the share of homes sold before auction," REIV chief Enzo Raimondo said.
"In the year to date, about 14% of homes scheduled for auction have been sold before, which is the highest level since 2010.
"In some suburbs, such as <a href="/news">Wantirna</a>, nearly half of all homes scheduled for auction were sold beforehand," he said.
The top weekend auction locations were <a href="/news">Richmond</a> (9 auctions), <a href="/news">South Yarra</a> (9 auctions), <a href="/news">Mount Waverley</a> (8 auctions), <a href="/news">Doncaster </a>(8 auctions) and <a href="/news">Cheltenham </a>(8 auctions).
The clearance rate has been above 70% for the past four weeks, which is higher than the 10-year average of 69% for this time of year. 
Based on forward estimates, about 2,300 auctions are expected to be held in July which is higher than the decade average as auctions continue to be popular.
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Coming in from the outer, Craigieburn gets cracking with auctions

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The Housing Industry Association’s Housing Scorecard report has found that New South Wales is a strong performer, having rapidly turned around over the past six months.
HIA chief economist Harley Dale said that the rapid turn of fortunes for New South Wales is evident.
“Six months ago we noted there was momentum building in NSW and this has been confirmed by the latest analysis. NSW is now the second strongest residential building market in the country, having been ranked number five only six months earlier,” said Dale.
“Much of the recovery in NSW can be attributed to the surge in activity in the multi-unit sector, but the detached home market in NSW ranks among the strongest in the country. The renovations market remains a soft spot for NSW, but there are signs that conditions in this part of the market are improving,” he said.
Western Australia topped the overall ranking, ahead of New South Wales, and these two states hold the lead strongly.
However, while it’s positive news for New South Wales and Western Australia, it remains less so for Tasmania – recording the weakest residential building sector in the country.
“This is an unenviable position the state has now held for six consecutive quarters. There have been some signs of improving conditions in the Tasmanian economy, but we are yet to see this flow through into the residential building sector,” he said.
The ACT, Victoria and the Northern Territory are very close in the middle of the group, with South Australia and Queensland seeing improvement but remaining just slightly more subdued.
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New South Wales detached home building strongest in country: HIA

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A recent poll of 6,000 folk in WA said they could experience mortgage stress if interest rates are ratcheted back up, with housing stress defined as spending more than one third of disposable income on a mortgage.
Usually one might treat such surveys with caution, but a look at data for WA over recent years does seem to back the point up to a certain extent.
Retail turnover, for example, went on a blazing run for half a decade from early 2008, but perhaps consumers are now 'tapped out', with WA retail sales growth having tapered off since late 2012 on a seasonally adjusted basis:
<img src="https://1.bp.blogspot.com/-WPy4jftppA0/U6lXKZYJyTI/AAAAAAAAODI/U_y1qb-Na1Y/s1600/WA.jpg">
Perth's property markets have been on a very strong  run over the past dozen years, and after a prolonged lull which broadly ran from 2009 to 2012, dwelling prices in many areas saw another 10% price uplift in 2013:
<img src="https://4.bp.blogspot.com/-leRz10fqeBU/U6lkfevZ3XI/AAAAAAAAOEQ/DPoVp8eOeSk/s1600/11+year+prices.jpg">
Western Australia is now in transition mode as the mining construction boom passes its peak and the less labour intensive production phase of the mining boom kicks in.
It's important to note that in the short term this is likely to result in an uptick in unemployment and a slowing of the economy, which is one of the reasons why our 2014 forecasts were only for a far more moderate 0% to 3% growth, which essentially looks to be about on track at this juncture:
<img src="https://4.bp.blogspot.com/-Yx1uPLpOLEo/U6lXRLmlWXI/AAAAAAAAODQ/mlPbLaVk2zo/s1600/Perth.jpg">
It's worth noting that some of the data reported to date needs putting in perspective.
While the state population growth of +71,300 in 2013 represented a significant slowdown from an romping annualised pace of 3.7% to 2.9% in Q4, this is still by far and away the strongest population growth rate of any state, even though the larger states recorded higher absolute population growth numbers:
<img src="https://2.bp.blogspot.com/-vABYA1a-56M/U6laOIp5jJI/AAAAAAAAODk/L-M9YAl-LYU/s1600/Population.jpg">
Similarly, while the unemployment rate has ticked up from its pre-crisis lows, the unemployment rate is still only 5%, which is comfortably the lowest rate of any state, and a world apart from the southern states of Tasmania and South Australia where unemployment rates are flirting with a 7% level or higher:
<img src="https://4.bp.blogspot.com/-qakZ_6v1Occ/U6lkD8xMonI/AAAAAAAAOEA/8baFNVl-0iY/s1600/UEby+state.jpg">
Jobs growth in WA has tapered off too of late, but the past decade has been an undeniably strong one in WA:
<img src="https://3.bp.blogspot.com/-yEuaK3IhBnc/U6lkEGbqLoI/AAAAAAAAOEE/I5Xq5W7RvJg/s1600/WAjobs.jpg">
Mining boom over or changing?
When commentators saw that the "mining boom is over", what they are really referring to is that the mining construction boom of the past decade has now passed its peak and will start to decline, representing a drag on economic growth.
Refer to the national figures for engineering construction below:
<img src="https://3.bp.blogspot.com/-ZQDm9Ohq790/U6n_cBNmdhI/AAAAAAAAOEw/hPGAhgm3XRo/s1600/CWD.jpg">
Mining boom over or changing?
When commentators saw that the "mining boom is over", what they are really referring to is that the mining construction boom of the past decade has now passed its peak and will start to decline, representing a drag on economic growth.
Refer to the natClearly, however, the whole point of constructing resources projects is to bring reserves to production, and in this sense, the mining commodity exports boom is only in its infancy, with exports to China in particular accelerating by the month.onal figures for engineering construction below:
<img src="https://www.rba.gov.au/chart-pack/images/16-17-balance-payments/16tr-bcomx-small.gif?accessed=2014-06-24-20-45-07" alt="Bulk Commodity Exports graph">
Take a look at what's happening in WA's Pilbara region for example.
Iron ore cargo shipped out by the Port Hedland Port Authority (PHPA) in the month of May totaled an extraordinary 36.05 Mt (million tonnes), a whopping 30% increase in volumes on the May 2013 figure, with some 85% of that cargo bound for China or Taiwan, and Korea and Japan mopping up the rest:
<img src="https://4.bp.blogspot.com/-IngIN3j-joE/U6lhHYbvm1I/AAAAAAAAOD0/EXb798ksuYk/s1600/PHPA.jpg">
It was announced recently that on Saturday 7 June 2014 the PHPA shipped out an extraordinary 1,270,271 tonnes of iron ore on only a single tide, crunching the previous record set in April by a whopping 160,000 tonnes.
The last time I checked there are two tides in day, you can see how this could potentially comfortably equate to new monthly and annual throughput records in June when the data are reported in a week's time.
Summary
Western Australia will continue to be Australia's exporting powerhouse in the decade to come.
Clearly, however, there will be a very strong level of interest in how the Chinese economy continues to fare, since it is China's demand for iron ore in particular which is driving the boom (although Port Hedland, for example, also exports salt, copper concentrate and manganese ore to China and Taiwan).
The key data to watch for WA will be the presently low unemployment rate and where that peaks, and the all-important Labour Force figures which are released monthly by the Australian Bureau of Statistics.
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pwargent-M4siyDbqQY

Western Australia: A state in transition

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Five years on since the US recession ‘officially’ ended in June 2009, urban land prices are rising, the pattern of history is repeating, and this time the players on the chessboard have changed.
But our governments are turning a blind eye. 
They have yet to acknowledge why the crisis happened, or put policies in place to prevent it happening again.
Expensive welfare systems, elaborate tax and transfer policies, and the financial ‘cures’ following the previous land induced crash in the early 1990s did nothing to prevent the swiftest and sharpest synchronised global downturn in human history.
Taxpayers were punished, bankers got a “get out of jail free” card, and the largest real estate investment trusts spent $50 billion purchasing 386,000 foreclosed homes, to rent out to previous owners who believed and acted on the lie “there is no bubble”.
The IMF and policy makers are now twisting themselves in economic knots trying to pin down a ‘cure’ for the dangers of excessive house price inflation they readily admit lead to most banking crises, with Australia featuring in the top five of each of their highlighted risk assessments;
“Our research indicates that boom-bust patterns in house prices preceded more than two-thirds of the recent 50 systemic banking crises,” an <a href="https://blog-imfdirect.imf.org/2014/06/11/era-of-benign-neglect-of-house-price-booms-is-over/" target="_blank">IMF blog post warned</a> last month.
The IMF claims the ‘neglect of house price booms is over’ but as the OECD ‘Post Mortem’ of the 2008 crises reveals, these economists can’t see. 
They ignore the role that rent (unearned income), debt and the financial sector play in shaping the economy. 
They have a colourful history of recurrent boom bust land cycles, all replete with rampant speculation and easy credit, spanning in excess of 300 years from which to study … and yet:
 “The macroeconomic models available at the time of the crisis typically ignored the banking system…”  (OECD Forecasts During And After The Financial Crisis: A Post Mortem – February 2014).
In other words, based on the aesthetic qualities of their equations, the 2006/7 bubble couldn’t exist. A story we hear repeated every year as prices continue to defy gravity and economist try and explain it away with ‘sound fundamentals’.
Neo-liberal policy made matters worst. 
Less government interference, protecting labour, redistributing wealth through taxing the rich, deregulation of capital markets, lowering trade barriers, and reducing state influence though privatization and fiscal austerity were termed by American scholar Robert Waterman McChesney as “capitalism with the gloves off”.
It promised to lead to efficient markets and lower unemployment.
But at the onset of the GFC, unemployment in developed nations rose above any previous recession of the past three decades, whilst wages, as a share of GDP plummeted to their lowest point since the Second World War.
<img src="/images/2014/07/14/cashmore%20july%2014%20one.png" alt="">
“This should be a wake-up call,”concluded the UN in their annual <a href="https://unctad.org/en/PublicationChapters/tdr2012ch6_en.pdf" target="_blank">Trade and Development report that revealed the findings</a>:
 “There must be something fundamentally wrong with an economic theory, that justifies the rise of inequality mainly in terms of the need to tackle persistent unemployment.”
In the UK, Bank of England has imposed a 4.5 times loan to income cap on 85% of mortgages, along with various ‘stress tests’ to please the regulators.
But the Council of Mortgage lenders show only 19% of recent London mortgages are at or above this ratio, whilst the national figure is a mere 9%.
By volume, London accounts for around a quarter of loans nationally, (Q1) so the 85% cap will do little to nothing, except perhaps eliminate home ownership for low-income groups.
But stemming inflation or deterring speculative activity is not, and never will be, <a href="https://www.theguardian.com/business/2014/jun/26/bank-of-england-limit-large-loans-housebuyers-mortgage-lenders" target="_blank">Central Bank policy</a>:
"These actions should not restrain current market housing activity … these actions will have minimal impact in the future if the housing market evolves in line with the Bank's central view."
In the U.S.A just five megabanks and their holding companies control a derivatives market worth hundreds of trillions of dollars, in Australia the ‘Big Four’ command 80% of the market and 88% of residential mortgages.
“These are the men who have the most economic power in the world’’ wrote British philosopher, mathematician and historian, Bertrand Russell, one of the 20th century’s leading logicians; “and they derive it from land, minerals, and credit, in combination.”
Russell understood only too well, that all productive gains, every improvement in society and the economy, would be capitalised into rising land values, enriching those who owned the assets but more so, those who created the credit and traded on the debt. 
Milton Friedman meanwhile tutored that societies are structured on greed. 
But greed means taking something from another, grasping for a larger slice of the pie (see <a href="https://en.wikipedia.org/wiki/Pareto_efficiency" target="_blank">pareto efficiency</a>).
Greed is not a natural feature of a well-functioning community; rather it’s a feature of a dysfunctional economy that allows a country’s wealth to gravitate into an elite nucleus of financially strong hands.
It remains that the economy is fuelled by what is termed the ‘FIRE’ sector – finance, insurance, and real estate.
The FIRE Economy is dependent on rising asset prices – on you and me buying houses - so it can extract economic rent.
The three sectors work together – they’re intrinsically linked.  
The banking sector pumps a colossal amount of credit into the system by way of a home loan. Real estate businesses sell the products – some trading as REITs - insurance companies underwrite the owners debt, property, and income, and as the interest payments compound – doubling and doubling again – the debt is recycled into more lending, more borrowing, higher house prices - making those who trade on the debt in an obscure concentrated market of derivatives, increasingly wealthy.
<img src="/images/2014/07/14/cashmore%20july%2014%20two.png" alt="">
Source: <a href="https://www.worldeconomicsassociation.org/books" target="_blank">Bubble Economics</a>: Australian Land Speculation 1830 – 2013, by Paul D. Egan and Philip Soos
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
The government, many members of which come directly from the industry itself, receive substantial payments from the FIRE sector.
For example, between 1998 and 2008 the banking industry spent <a href="https://newint.org/features/2011/01/01/10-worst-corporate-lobbyists/#sthash.nyyaPmr4.dpuf" target="_blank">$3.4 billion</a> lobbying the US government.
In Australia, the ICAC investigations into Illegal donations from developers and <a href="https://www.theage.com.au/comment/even-i-am-shocked-by-icac-revelations-20140516-zreh2" target="_blank">“wealthy property tycoons”</a> reveal tens of thousands of dollars have been used to influence decisions by local, state and federal governments.
It should therefore be of no surprise that ‘affordable housing policy’ always seems to work in reverse. 
Generous subsidies are handed over to investors – all of which are capitalised into land prices.
Restraints on supply are imposed, ‘rich neighbourhoods’ are protected from over development, land on the fringes is no longer dirt cheap, acreages are banked, <a href="https://www.prosper.org.au/2014/06/18/no-land-for-you-melbourne/" target="_blank">exempt from State Land Tax</a> until subdivision at the owner’s pleasure.
To survive, the FIRE sector must effectively sell the illusion that the economy can grow on rooftops, that we can all take part in an orgy of economic rent.
“Only the little people pay taxes” (i.e. work for a living) - we can all become wealthy through property investment, dining out and trading on leveraged gains, perhaps donating a little to charity, or taking part in some publicity-generating event to raise funds for homelessness along the way – as our politicians are fond of doing.
Of course, first home buyers suffering alarm at rapidly escalating costs are necessary oxygen for the system.
So their judgement is manipulated as housing affordability is now reclassified as mortgage serviceability – how far the pay cheque can stretch each month rather than highlighting the upfront cost, while young buyers are encouraged to enter the market as speculators, living off their parents, until they gain a ‘foothold’ from leveraging the equity.
Banks assist with an array of financial products – offset accounts, honeymoon rates, shared equity schemes – mortgages treated like credit card payments, where all that’s required is the interest and should the market collapse with money still outstanding, they’ll collect the house too.
The result is land is now used for greed rather than need, pushing city boundaries outwards, requiring an excessive use of durable capital, which eventually leads to a shortage of loanable funds. 
You will never be told the system can fail.
Instead you will hear that house prices can maintain a ‘high plateau’ – stagnate for a while until we all ‘catch up.’
However, the increase in the annual rate of growth is now part of the income that buyers pay for and lenders rely upon.
This is how real estate is sold – investors gravitate to areas that advertise ‘good capital gains’, calculating the land’s value based on both the rent a tenant will pay plus the projected annual increase (land rent).
Buyers live in fear of land values collapsing, yet, while prices trend higher, expectations over shoot the mark by no small degree.  Landowners treat their unearned increment as income, raising consumption, lowering saving, putting to upward pressure on inflation, which eventually results in interest rates rising.
Never, throughout the course of history, has such a process been economically sustainable.
At some point the productive capacity of the economy can no longer support the boom – and as Australia’s history of land induced financial crises reveal, the end is not always as kind as experienced in 2008. <a href="https://www.worldeconomicsassociation.org/books"> </a>
“House prices don’t always go up” warned the Governor of the RBA, Glenn Stevens at a recent speech in Hobart, just as he did in <a href="https://www.abc.net.au/worldtoday/content/2014/s3958842.htm" target="_blank">March</a>, - a message he has <a href="https://www.mywealth.commbank.com.au/property/house-prices-rises-cyclical--rba-s-stevens-news20131029" target="_blank">repeatedly</a> <a href="https://www.smh.com.au/business/the-economy/glenn-stevens-says-aussie-dollar-needs-to-fall-further-20131213-2zapf" target="_blank">reiterated</a> since appearing on Seven Network’s <a href="https://www.abc.net.au/worldtoday/content/2010/s2858942.htm" target="_blank">Sunrise</a> in 2010.
But Australian investors aren’t listening to Glenn – they’re reading the media headlines, covering the latest findings in the BRW Rich 200, which shows property to be the ‘single biggest source of wealth’, and entrepreneurs “piling into property faster than ever”.
Banks remain disturbingly under-capitalised. 
“I’ve had land that has doubled in value in the past 12 months,” <a href="https://www.brw.com.au/p/investing/brw_rich_fatter_profits_for_property_tBzXYYtLFJ8zKUsFclS3eJ" target="_blank">said Harry Triguboff</a>.
But while Triguboff paid a lot for his land, but he did not make his cheque payable to the local school, park, rail network, or the array of public and community services that yield his land a healthy source of locational revenue that grants such windfall gains.
His payment went direct to the previous owner of the land, who pocketed the profit, while the funding needed for maintaining the facilities and attracting workers to the city, come from an elaborate network of taxes, which fall primarily on income and productivity – ‘the little people’.
<img src="/images/2014/07/14/cashmore-july-14-three.gif" alt="">
Source: <a href="https://www.worldeconomicsassociation.org/books" target="_blank">Bubble Economics</a>: Australian Land Speculation 1830 – 2013, by Paul D. Egan and Philip Soos.
This is the kind of rent seeking most of us have some experience of, a process that effectively punishes and disheartens the priced out sectors of the community, whilst encouraging the hoarding of land as the road that leads to riches – thereby ignoring the social and ethical problems that result from the process. 
The effect is to turn us into a nation of speculators where moral judgement is subverted by the unearned yields one can receive.
Investigate most societal problems, wages, housing, health, poverty, the loss of jobs to off shore markets, and this will be found at the root.
No one is born into poverty or inequality – these things are not by-products of nature – in a modern society the extremes we experience that lead to protests and riots over cuts in expenditure to welfare (a requirement exacerbated by the process outlined above) are due to policy and political ignorance.
When the Henry tax review in 2008 concluded: “Economic growth would be higher if governments raised more revenue from land and less revenue from other tax bases.”
It was onto something important.
Lifting taxes off labour and restructuring our tax and supply policies is a good start, but alone it won’t do.  Removing the power embedded in the banking industry to create credit based on their own vested interests is equally important, it would free up the creative capacity of the community and move instead toward a society and culture that is able to provide for all.
However it remains, that every effort in history to effect the changes suggested above have been fought by the establishment.  In this respect, change can never come from the top down. It requires a system that can return democracy to the people through a slow process of re-education, and it’s a system we need to advocate if social and economic justice is the goal.
But until such a time, it’s business as usual – and in this respect, the date for the next financial crisis has been set. 
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