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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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GUEST OBSERVATION
Heightened competition among home lenders has prompted the banking regulator to issue a reminder of what constitutes prudent lending, but its suggestion that loans being generated by mortgage brokers should come in for scrutiny has not gone down well in some quarters.
The Australian Prudential Regulation Authority (APRA) released a draft prudential practice guide on residential mortgage lending in May, with <a href="https://www.apra.gov.au/mediareleases/pages/14_11.aspx" target="_blank">retiring chairman John Laker</a> saying that “in this environment, APRA is seeing increasing evidence of lending with higher risk characteristics and it does not want this trend to continue”.
Residential mortgages constitute the largest credit exposure in the Australian banking system and APRA has made it clear it wants to ensure prudential lending standards are maintained.
Lending standards apply to the loan origination process, the risk appraisal of the borrower and to the style of mortgage product – including standard mortgage loans, <a href="https://theconversation.com/reverse-mortgages-need-a-rethink-if-theyre-the-new-age-pension-26433" target="_blank">reverse mortgages</a>, home equity lines of credit and interest-only loans. APRA’s draft – which is still the subject of consultation – also provides guidance on hardship loans, “stress-testing” of loan exposures and on mortgage insurance.
The draft has triggered controversy among mortgage brokers, however, because the guidelines encourage banks to scrutinise loans that are originated by brokers. The Mortgage and Finance Association of Australia has questioned whether broker-originated loans are more risky than bank-originated ones.
Mortgage brokers generally assess the financial situation of borrowers, recommend mortgage loan products and lenders, and then manage the application process. It is common in Australia for banks to pay mortgage brokers upfront or ongoing fees for this “origination” of a loan.
Their remuneration is generally tied to the loan amount and is payable by the bank to the broker either upfront or over time. As a result, there could be an incentive for brokers to advise consumers to borrow a higher amount than they might need. Another common practice is for borrowers to be directed to interest-only loans, to be used in combination with a mortgage offset account.
As well as new loans, brokers also help consumers refinance existing mortgages often to purchase additional property. In this process, houses are revalued and consumers can take the opportunity to reduce their equity in a property – in effect, withdrawing cash.
Lenders are happy to originate loans at loan-to-value ratios of 80%, which implies equity funding of 20%. The risk of a mortgage loan decreases over time as the borrower builds up equity. Interest-only loans and loans made with the intention to cash out equity maintain the risk to the lending bank at a high level.
The recent global financial crisis has shown that real estate values and home loan defaults are closely related. Economic downturns can trigger house price devaluations and cause mortgage defaults.
Australian house prices have grown by double-digit percentages in recent years, and some people argue the property market is ripe for a correction. Some home owners would face negative equity if double-digit decreases were to occur and could have incentives to default on their loans. Such a scenario was realised in the US during the GFC, when there was a dramatic increase in default rates.
But the interests of brokers and banks are not necessarily aligned when it comes to the consideration of borrower risk. A broker may have a low incentive to consider risk if they are paid regardless of what happens to the loan in the future.
APRA says that “experience has shown that commissions paid upfront tend to encourage less rigorous attention to loan application quality”. Trailing commissions, which are paid over time, are on the other hand more likely to provide incentives for brokers to retain and monitor customers, it says.
APRA wants to encourage banks to link broker remuneration to mortgage delinquency risk.
There is limited academic research on the issue of whether broker-originated loans are more risky, partly because of the difficulty of accessing this information.
<a href="https://www.mitpressjournals.org/doi/pdf/10.1162/REST_a_00387" target="_blank">The research that is available</a> does confirm that broker-originated loans are more risky, but it also shows that about three-quarters of this additional risk can be explained by observable information such as higher loan to valuation ratios or lower credit scores.
In response, banks could charge higher risk borrowers an increased mortgage rate, or alternatively, reduce the remuneration it is prepared to pay the broker originating the higher risk loan.
<blockquote>
An economic shock affecting property prices or borrowers’ ability to repay could cause tremors in Australia’s financial system.
</blockquote>
This research is important because it highlights the need for a bank to include this sort of information on risk into its pricing, provisioning, capital and stress-testing calculations – something APRA aims to encourage with its guidance note. It is reasonable to include this cost differential in mortgage pricing and/or broker remuneration.
The current APRA initiative supports the resilience of the Australian financial system and are in line with actions by regulators in other countries, including the US. But more needs to be done.
Australian banks are exposed to mortgages to a larger degree than their international counterparts, with a high allocation to these loans versus other banking products. This means an economic shock affecting property prices or borrowers’ ability to repay could cause tremors in Australia’s financial system. We need to think of creative ways to limit the exposure of Australian lenders to mortgages.
This could occur, for example, by encouraging the internationalisation or diversification of bank assets, something that could be supported by further development of financial market instruments such as covered bonds, derivatives, insurance policies and asset securitisation.
Harry Scheule is associate professor of finance at the <a href="https://www.uts.edu.au/" target="_blank">University of Technology, Sydney</a>. He is a regional director of the Global Association of Risk Professionals. His expertise is in the area of banking, financial risk measurement and management, insurance, mortgages, prudential regulation, securities evaluation and structured finance.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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po-LsXgBTHBmX

To tackle risk, address how mortgage brokers are paid

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GUEST OBSERVATION
Al, my business partner, and I were recently out at one of the secondary schools talking to the students about the basics of investing and property as an investment option.
But I decided to start my property section a little different from usual and I think it really woke them up.
I wanted to provide them insight to the property world that most Australians never get.
Here’s how it went…
I started explaining to them that I had a friend named Leigh, who when growing up was mesmerised by Hollywood. He loved film making and a bit over 10 years ago wrote a movie script for a little film called Saw. When Leigh and his mate James landed in Los Angeles the first time they were swept off their feet by Hollywood executives and were promised the world. They rejected all offers to purchase their script and decided to hold onto the movie rights. They made Saw and have now gone on to make other films like Insidious, The Conjuring, and James currently directing the latest Fast and Furious film. So yes these boys made it big time.
Hollywood is called 'tinsel town' for a reason. There are lots of bright lights but these lights are only there to cover up the rotting core. Talking to Leigh over the years he explained to me that Hollywood is very similar to the way I describe one part of the property industry. The part I relate to Hollywood is what I call the property advisory or seminar circuit.
The thought of making it big time seems fantastic, but something in your gut just doesn’t feel right. This is how Leigh felt about Hollywood and this is how I felt about the property industry.
Wherever there is large amounts of money there will be sharks. So I told the kids I was going to do an exercise and if they participated they would see the advisory or seminar circuit for what it really was. They would hopefully then be able to remain safe as they ventured into the property investment world.
So Al and I split the room up in two. We put on some pumping music and started throwing $20 notes into the crowd. We worked the kids up to a frenzy getting them to yell ridiculous things back and forth at each other. They had an absolute ball and pocketed some quick cash in the process. Al and I joined in the yelling and ran around high fiving all the kids.
I then turned the music off and asked them to sit down. I asked them if any of them had been to a property seminar.
None raised their hands.
I told them that they all had now just been to a property seminar and went on to discuss that the majority of property seminars are design to follow on with charging you for overpriced education or over-inflated property purchases.
Here are some of the points we then discussed.
The dictionary defines a scammer as the following: "Swindler / Scammer: a person who swindles you by means of deception or fraud."
When it comes to buying property we are talking about large sums of money. We are not buying lollipops. Sadly this brings in the sharks.
Signs that the sharks are circling.
<ul>
<li>Pumping music aimed at getting you hyped up. Smart investors do not buy on emotion.</li>
<li>Visuals of money or luxury items.</li>
<li>The presenter positions themselves as a saint. They tell you about the charity that they support. Philanthropists do not promote the fact that they give their money away. If someone promotes the fact that they are a philanthropist this is a big tell-tale sign that they want to take more than they give.</li>
<li>Questions asked multiple times like ‘Are you ready to change? Are you ready to take action? Are you ready to make the sacrifice?’ If you hear this you’re about to be the sacrifice.</li>
<li>Act now, price reduction offers during or at the end of seminars.</li>
<li>No discussion on the risks of investing. This should be the centre of an education session. I always find it amusing that risk is either skimmed over or never discussed.</li>
<li>The promise of getting rich quick. Remember smart investors get rich slow.</li>
<li>Promises of above average returns.</li>
</ul>
I told the kids that they should always question and advisors motivation. To understand why someone is promoting a certain product or service, you need to firstly understand how they are paid. 
These were pretty smart kids so hopefully this lesson will keep them safe in the years to come. 
Cam McLellan is a successful property investor, businessman and the founder and CEO of <a href="https://openwealthcreation.com.au/" target="_blank">Open Wealth Creation</a>. 
Open Wealth Creation advise, coach and guide people through the property investment process including arranging finance and choosing property to finding tenants and portfolio management.
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cmclellan-94LEvYTinN

How to stay safe from the property sharks

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Renovations to add value are all about being visual and this is especially true when it comes to the concept of renovation ‘cosmetically’.

The clue to what this means is really all in the word ‘cosmetic’. It’s like makeup for your property – you’re providing a visual uplift without doing any of the hefty structural work.

However, the extent of what counts as cosmetic is pretty broad. While some wouldn’t consider replacing a kitchen as cosmetic, some may believe that replacing the doors and handles and re-tiling does count as cosmetic.

As a rule of thumb, cosmetic renovations are generally cheaper than structural renovations and usually offer more bang for your buck. They involve things that are visually apparent, and not hidden fixes such as re-wiring or plumbing.

The following are usually considered part of a cosmetic renovation:

<ul>
<li>Painting (from the walls, to the house’s façade to the driveway)</li>
	<li>Fixing minor cracks in walls</li>
	<li>Light fittings and window furnishings</li>
	<li>Flooring (such as new carpet)</li>
	<li>Re-colouring (such as the surfaces of a bathroom)</li>
	<li>Updating basic household hardware (such as a towel rack, toilet seat or new door handles)</li>
	<li>External flourishes (new house number, letterbox etc)</li>
	<li>Light landscaping (sometimes even adding new fencing)</li>
</ul>
Renovating for Profit’s Cherie Barber says that a 10% spend is the amount required for a cosmetic renovation.

[smartcode_project:default project_id=92985]

If you’re unsure whether what you’re undertaking is cosmetic or not, then it’s worth asking yourself whether you require a particular planning or building permit for the job. That usually suggests that the project is slightly more extensive than a cosmetic upgrade, which is typically a “surface” fix.

If you’re changing a floorplan or knocking down walls (particularly load bearing), you’re firmly into structural renovation territory.

However, just because cosmetic renovations are typically quicker, smaller and cheaper (although not always) than their counterparts, it doesn’t mean that you can rest on your laurels. There’s still scope to overcapitalise, to get the renovation wrong and to make crucial mistakes.
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jduke-EHk3XBmHkn

What is a “cosmetic renovation"? Investment terms explained

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Stocktake sales have enticed Australian shoppers to open up their wallets after the May budget, with retail sales up 18.4% in the past two weeks.
While retail sales took a hit after the <a href="https://www.smartcompany.com.au/federal-budget-2014/765-finance/41935-budget-2014-small-business-reacts-to-not-a-bad-budget" target="_blank">Abbott government’s first budget</a>, data from the Australian Retail Index shows the sector finished off the 2013-14 financial year on a strong note with 4.1% growth in June.
“After a slump in sales post the release of the federal budget, shoppers were quick to forget their concerns, and return with confidence,” said Simon Scalzo, national retail lead partner of BDO, one of the firms behind the Australian Retail Index.
Russell Zimmerman, executive director of the Australian Retailers Association, told SmartCompany he has seen a similar recovery in sales since the budget.
While Zimmerman says it is hard to say for sure which factors caused lower retail sales in May, he says it is fair to say “consumers kicked back” against the budget. Shoppers were also less likely to purchase winter goods in May due to unusually warm weather, he says.
“What we are hearing is that it has come good in the past few weeks and that is in part due to the return of the cold weather that retailers were looking for,” says Zimmerman.
“I think some consumers are also realising the budget was not as bad as they initially thought.”
“But I would caution it is not across the board,” he says. “Some retailers have said it hasn’t been as strong, including some SMEs and those in the hardware sector. Some have said it has been tough.”
Nevertheless, Zimmerman says the sector had “generally not a bad finish” to the end of the financial year, led by the department stores which appear to have benefited from their traditional mid-year stocktake sales.
While Zimmerman says stocktake sales might not be as popular as they were 20 years ago, he says they “absolutely” still make a difference to the country’s retailers.
“People still believe in the stocktake sale. It’s the same with Boxing Day,” says Zimmerman.
The Australian Retail Index, which was <a href="https://www.smartcompany.com.au/marketing/sales/41642-new-retail-sales-index-to-give-shop-owners-daily-data" target="_blank">launched in April</a>, also tracks fluctuations across different retail categories, including furniture and homewares, fashion and accessories, sporting goods and other general retail.
Scalzo says the furniture and homewares category proved the most stable throughout the 2013-14 financial year, while fashion and accessories and other general retail proved the most volatile.
But while the retail sector appears to be well-placed heading into the new financial year, Scalzo says retailers should brace themselves for the winter months.
“If history is anything to go by, retailers should expect activity to be short-lived over the remaining cooler months, with historic consumer confidence showing a dip in sales between August and October,” says Scalzo.
<img src="https://www.smartcompany.com.au/images/retail%20story%20graph%20070714.jpg" width="548" height="463">
Source: Australian Retail Index
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Retail sector finishes financial year on a high: Spend recovers after budget slump

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Realestate.com.au has released a list of 10 suburbs that are most in demand by potential buyers, based on the most people looking per listing.
Balgowlah, New South Wales, which secured top spot in the last list has fallen spectacularly to number nine on this quarter’s seller’s list.
Ormond, Victoria, which appeared for the first time on the last ranking, has vanished again from the list.
Of the total, Victoria secured two spaces, South Australia netted three top suburbs, New South Wales scored four and Queensland managed to scrape in one suburb at number 10 on the list. It’s notable that the Queensland suburb, Holland Park, is down two places from its last ranking.
<ol>
<li>
<a href="/news">Albert Park</a> (Victoria) Median house price: $1,380,000 
</li>
<li>
<a href="/news">Parkside</a> (South Australia) Median house price: $614,000 
</li>
<li>
<a href="/news">Freshwater</a> (New South Wales) Median house price: $1,362,500 
</li>
<li>
<a href="/news">Belair</a> (South Australia) Median house price: $511,500 
</li>
<li>
<a href="/news">Blackburn North</a> (Victoria) Median house price: $692,000 
</li>
<li>
<a href="/news">Kirrawee</a> (New South Wales) Median house price: $765,000 
</li>
<li>
<a href="/news">Cherrybrook</a> (New South Wales) Median house price: $880,000 
</li>
<li>
<a href="/news">Norwood </a>(South Australia) Median house price: $800,000 
</li>
<li>
<a href="/news">Balgowlah</a> (New South Wales) Median house price: $1,312,500 
</li>
<li>
<a href="/news">Holland Park</a> (Queensland) Median house price: $544,750
</li>
</ol>
Of those on the list, Cherrybrook, Norwood, Balgowlah and Holland Park have actually decreased in demand over the last quarter, while Albert Park was the only suburb that calculated an increase.
General manager of sales and operations at realestate.com.au, Arthur Charlaftis, said that the position indicates increased buyer interest.
“Top Sellers’ Markets look at supply and demand in each suburb and ranks the suburbs based on ratio of buyer demand. A position in this list suggests that it could be a good time for property owners in these areas to consider selling as there are a high number of buyers looking for property in that area,” he said.
Greg Hocking Real Estate’s Greg Hocking said that Albert Park’s attraction remains its “village like” atmosphere.
“For families, the primary schools are bursting at the seams because they’re so highly regarded. Albert Park Secondary College is attracting lots of people who are keen to be in the school zone. Parents are deciding to send their kids there rather than sending them to private schools across town,” Hocking said.
Property Observer wonders if The Block has had any influence on Albert Park’s ranking, clearly driving some interested parties to this suburb. Whether or not they’re prospective buyers is less easy to ascertain.
Albert Park did get a mention in second place <a href="/expert-insights/investing/the-top-10-most-viewed-suburbs-realestate-com-au">on the previous quarter’s list</a>.
Tom and Joy Williams, who bought Kyal and Kara's apartment on The Block Albert Park television series, sold their nearby home in May. The<a href="/expert-insights/buying/albert-park-former-1896-bakery-listed-in-the-block-aftermath"> former 1896 bakery at 1a College Place snapped up $3,705,000 at its May 21 auction</a> – having been tipped to fetch “more than $2.9 million).
Here are some <a href="/news/what-are-the-block-albert-park-contestants-up-against">more examples of offerings in Albert Park</a>.
Albert Park has, however, always been a list topper. Back in October 2012 it ranked number one as one of the<a href="/news/vic/albert-park-heads-top-10-rental-growth-suburbs-in-melbourne"> top 10 rental growth suburbs in Melbourne</a>.
Picture courtesy of Tim Serong/<a href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">Creative Commons</a>.
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The 10 most in-demand markets, Albert Park tops list: REA

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Raine &amp; Horne chief, Angus Raine, has said that the Reserve Bank of Australia should take a lead from Europe and meet every six weeks rather than once a month.
With a recent meeting of the Governing Council of the European Central Bank committing to the change, Raine said that it would be sensible for the Reserve Bank to follow their lead and move to this new six week cycle. The European Central Bank will be taking this step from January 2015, although their non-monetary policies will continue as usual.
Raine said that in the past, RBA decisions take a few months to wash through the system and to affect consumer confidence, business activity and the real estate market, however they continue to meet and make decisions on a monthly basis.
“Moreover, we've seen how the lead up to an RBA board meeting can be front page news and the hype and speculation leaves buyers and sellers holding their breath in the weeks before and after the outcome is announced, which stymies real estate activity,” said Raine.
“To be fair, the impact of the monthly meetings is not as emphatic in a bull run like we've enjoyed over the past two years but I'm more concerned about the effect when the RBA starts tightening monetary policy with a series of hikes, which is expected to begin later this year or early next.”
He noted that even if changes cause mortgage repayments to increase by as little as $50, it will take home owners a fortnight to calculate what they can afford.
“Longer intervals between meetings could give the RBA more time for its decisions to work their magic and minimise the impact that the meetings have on business and investment activity,” he said.
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RBA should turn to meetings every six weeks: Angus Raine

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The interest in gyms and more active lifestyles has been emerging for many years and it’s unsurprising to see developers get in on the action. However, they’re increasingly offering stunning gyms with views.
We’ve gone through some of the most stunning developments to select six that have high-level gyms, or rooftop gyms, that any exercise aficionado would be happy to workout in (although perhaps not walk up all the stairs to) to bring you this list of six.
<img src="/images/2014/07/04/yellow-one.jpg" alt=""> <img src="/images/stories/2013/12/04/Ho-Bee-tower---artists-impression-cropped-one.jpg" alt="Ho-Bee-tower---artists-impression-cropped-one"> 
The first is <a href="/expert-insights/buying/overseas-investors-to-tap-into-surfers-paradises-first-highrise-in-five-years">Rhapsody</a> (pictured above), positioned between Surfers Paradise and Main Beach, from Singapore-based developer Ho Bee Land.
<ul>
<li>Total number of apartments: 223</li>
<li>Level of gym: 27th floor</li>
<li>Total levels: 41 levels</li>
<li>Prices: From $280,000 for a studio apartment up to $867,000 for two-bedroom apartments</li>
</ul>
It’s a $120 million development with rooftop gardens, and they decided to include a residents lounge, gymnasium and terrace on the 27th floor (pictured below). The rooftop will have ocean and city views, a barbecue and food preparation area, herb and vegetable garden and fruit treas.
On the 27th level, it will include teppanyaki barbecues, private dining, a function room, an executive meeting room, and a fully-equipped gym with ocean views.
A pool, spa and sauna are also available elsewhere within the development.
<img src="/images/2014/07/07/4.%20Rooftop%20garden.jpg" alt="">
<img src="/images/2014/07/07/3.%20Level%2027%20gymnasium.jpg" alt="">
<img src="/images/2014/07/04/yellow-two.jpg" alt="">
<img src="/images/2014/07/07/south%20yarra%20july%207%20one.jpg" alt="">
The second is South Yarra’s <a href="/expert-insights/buying/meet-and-greet-in-south-yarra-with-yarra-houses-architect-neil-de-la-coeur">Yarra House</a> (pictured above). The boutique apartment development on 18 Yarra Street comes from Michael L Yates &amp; Co, Red C, HASSELL and Bird de la Coeur Architects.
<ul>
<li>Total number of apartments: 114</li>
<li>Level of gym: Rooftop (level 26)</li>
<li>Total levels: 25 levels</li>
<li>Prices: One bedroom from $495,000, two bedroom from $580,000, three bedroom from $1,595,000</li>
</ul>
The rooftop gym is “members only” and includes a 15-metre lap pool, yoga space and landscaped garden. It has views of Melbourne High School, the city skyline and the Royal Botanic Gardens.
It also includes a bathroom and shower, a barbecue area and a dining area (floor plan below). <img src="/images/2014/07/07/south%20yarra%20july%207%20floor%20plan.jpg" alt="">
<img src="/images/2014/07/04/yellow-three.jpg" alt="">
<img src="/images/2014/07/07/north%20sydney%20july%207%20one.jpg" alt=""> Our third is North Sydney’s <a href="https://www.138walker.com.au/%20" target="_blank">Belvedere</a> by Winten Property Group, a $140 million project on 138 Walker Street (pictured above).
<ul>
<li>Total number of apartments: 195</li>
<li>Level of gym: Rooftop</li>
<li>Total levels: 22 levels</li>
<li>Prices: Studios from $375,000, one bedroom from $400,000, one-bedroom plus study from $490,000</li>
</ul>
Belvedere has <a href="/expert-insights/building/rooftop-pools-make-a-splash-as-developers-bring-penthouse-amenities-to-the-people">a 12.5 metre lap pool</a>, gym and relaxation areas on the rooftop terrace. It has harbour views.
The roof area also includes a sundeck and barbecue facilities. Photos available (below) show a running machine, an elliptical and a number of other smaller pieces of equipment inside a room on the rooftop.
<img src="/images/2014/07/07/north%20sydney%20july%207%20two.jpg" alt="">
<img src="/images/2014/07/07/north%20sydney%20july%207%20three.jpg" alt="">
Article continues on next page. Please click below.
<hr class="system-pagebreak">
<img src="/images/2014/07/04/yellow-four.jpg" alt="">
<img src="/images/2014/04/16/7.jpg" alt="Skye by Crown construction commences">
Another offering in North Sydney, Skye by Crown at 211-223 Pacific Highway, designed by Koichi Takada is a $200 million creation with another stunning gym option.
<ul>
<li>Total number of apartments: 242</li>
<li>Level of gym: Top floor</li>
<li>Total levels: 20 storey</li>
<li>Prices: From $499,000 to $2 million plus</li>
</ul>
One of the stand outs on the list, it includes a top-floor gym and <a href="/expert-insights/buying/skye-by-crown-construction-commences">an infinity edge rooftop pool with views over the North Sydney area</a> (pictured above). Sales appear to have done very well at this development.
<img src="/images/phocagallery/2014/04/north-sydney-april-16/north%20sydney_0005_6.jpg.jpg">
<img src="/images/phocagallery/2014/04/north-sydney-april-16/north%20sydney_0007_8.jpg.jpg">
<img src="/images/phocagallery/2014/04/north-sydney-april-16/north%20sydney_0010_11.jpg.jpg">
<img src="/images/2014/07/04/yellow-five.jpg" alt="">
<img src="/images/2014/03/17/portside-wharf-march-17-breakout.jpg" alt="Construction commences on Brisbane waterfront Portside Wharf’s Pinnacle">
The fifth on the list is <a href="/expert-insights/buying/construction-commences-on-brisbane-waterfront-portside-wharf-s-pinnacle">Queensland’s Portside Wharf development Pinnacle</a> (pictured above).
<ul>
<li>Total number of apartments: 162</li>
<li>Level of gym: Rooftop</li>
<li>Total levels: 16</li>
<li>Prices: $390,000 to $2.4 million</li>
</ul>
Pinnacle will have a rooftop terrace with an infinity edge pool, BBQ, gym, entertainment area and onsite guards and management. It has river and city views (pictured below).
Click to open in new window:
<a href="/images/2014/03/17/portside-wharf-march-17-big.jpg" target="_blank"><img src="/images/2014/03/17/portside-wharf-march-17-big.jpg"></a>
<img src="/images/2014/07/04/yellow-six.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20one.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20two.jpg" alt=""> <a href="https://platinumtower.com.au/" target="_blank">Platinum Tower, in Melbourne’s Southbank</a> (pictured above), is from Salvo Property Group and includes the highest of all the gyms.
<ul>
<li>Total number of apartments: 435</li>
<li>Level of gym: 52nd floor</li>
<li>Total levels: 53 levels</li>
<li>Prices: Two bedroom from $438,000, three bedroom from $785,000, four bedroom from $1.3 million</li>
</ul>
The entire 52nd floor is for leisure and health, and includes not only the highest pool in Melbourne, but a sauna, gym and floor-to-ceiling windows on three sides (pictured below).
<img src="/images/2014/07/07/melbourne%20july%207%20three.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20four.jpg" alt="">
<img src="/images/2014/07/07/melbourne%20july%207%20five.jpg" alt="">
 
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Developments look to high-level gyms: Six stunning workout views

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Victoria’s young Adam and Lisa have trumped West Australian couple Carole and Russell in the House Rules finale, thanks to the public vote.
The judges awarded Carole and Russell 19/20 for their final challenge, where they transformed Adam and Lisa’s back shed into a James Bond style bar and spa. Adam and Lisa trailed behind in the judge’s eyes, scoring 17/20 for their Balinese makeover of Carole and Russell’s dingy downstairs gym.
But it was the public who had the greater pull. Audiences had a say over 50% of the final score in an online poll, and Adam and Lisa won by an undisclosed margin. In <a href="/expert-insights/building/who-will-you-vote-for-in-the-house-rules-grand-final">Property Observer’s own poll</a>, our readers showed an overwhelming preference for the younger couple. 
The couple will now have their $546,000 mortgage paid off.
“This has just been unbelievable,” said Adam at last night’s live season finale.
“I couldn’t be more proud of Lisa. She came from not knowing anything to being absolutely stunning and amazing and I love her so much."
Dubbed the season's "dark horses" by Johanna Griggs, Adam and Lisa struggled in the first few challenges, receiving just 7/20 for their first makeover task, and forced to sleep in tents while carrying out renovations. Their fortunes changed when they renovated <a href="/expert-insights/building/swimwear-model-maddis-shoe-room-overhaul-as-house-rules-hits-tropical-pallarenda-townsville">Maddi and Lloyd's Townsville home</a>, receiving a first-ever clean sweep, with 10/10 scores from the judges and Maddi and Lloyd.
Lisa was just as Adam thrilled with the season's final result. “This means we can get married, start a family, and our life will be a little less stressful,” she said.
Adam told host Johanna Griggs that he didn’t initially know that Lisa had even applied for House Rules.
“I owe Lisa my life as far as I’m concerned,” said Adam.
Runners-up Carole and Russell thanked all the other contestants.
“Yeah we’re sad we didn’t win, but we’re so happy for [Adam and Lisa],” said Carole. “But look and what we’ve got – we’ve got this amazing home, it’s just sensational.
“We’re so lucky.”
At the beginning of the episode, Carole described her pre-makeover house as “an absolute dump”, which was now a “Balinese paradise”.
In the last challenge, the grandparents requested a “Balinese six star resort” for their spa and bar area. Despite almost running out of money, Adam and Lisa delivered, with a sunken spa, an outdoor shower and a bar featuring jarrah throughout.
They lost points for the poor functionality of their indoor corner seating, which backed onto stacked stone walls. Judge Wendy Moore awarded the team 9/10, while Joe Snell gave them 8/10.
Adam and Lisa received <a href="/expert-insights/building/the-wallpaper-house-rules-in-home-decorating-he-said-she-said">even more wallpaper</a> in their back shed after Carole and Russell pasted gold bullion patterned wallpaper all over the wall behind the bar. The judges loved their long bar set under the shed’s window, with Snell giving Carole and Russell 9/10 and Moore awarding them 10/10.
At the episode’s conclusion, Griggs announced that another season of House Rules will air next year. <a href="/expert-insights/building/house-rules-season-three-do-you-have-what-it-takes">Applications are now closed</a>.
Photo courtesy of Channel 7.
 Note: This article initially incorrectly stated that Wendy Moore gave Carole and Russell a 9/10, with Snell scoring them 10/10. It was in fact Moore that scored the team 10/10. The article has now been amended.
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jrichardson-uRX5hFdKfN

Underdogs Adam and Lisa win House Rules season two

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Mirvac sold all 85 apartments when its launched its fourth Harold Park precinct, known as Altivolo over the weekend.
Construction of <a href="https://haroldparkbymirvac.com/altivolo" target="_blank">Altivolo</a> is expected to begin this year with a 2016 completion at the inner-Sydney Glebe project which is due to see its first precinct, Locarno opened at the end of this month.
Altivolo won the first race under lights at the Harold Park Paceway in October 1949.
Altivolo, bred by Edgar Tatlow in Tasmania for Harry Williams, was by a champion sire, Raider, from a Grattan Loyal mare named Attain.  
Altivolo will be positioned at the gateway to the Harold Park development. The building rises three storeys from street level shaped around a central courtyard.
Studios (40 square metres) were priced from $550,000, one-beds (48-56 square metres) from $615,000, two-beds (75-104 square metres) from $870,000 and three-beds (120-127 square metres) from $1,395,000.
Sales now total 900 across the various buildings on the former Harold Park race course.
Mirvac chief executive, residential, John Carfi told the Australian Financial Review that despite lot of competition in the market right now, the demand for Harold Park has not let up since the day it launched the first precinct in 2011.
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jchancellor-FAypfDUnLy

Harold Park Altivolo launch sellout as Mirvac trots to 900 sales

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About $875,000 had been tipped, but $1,055,000 was achieved at the weekend auction of a Surry Hills warehouse apartment in Sydney Mansions.
Behind the heritage brownstone facade, the three bedroom apartment in the former Mark Foy's warehouse has 113 internal square metre space.
It was converted in late 1999 and renovated in 2011. The strata levy sits at $2,267 a quarter.
The Ray White Surry Hills agency marketed it as "Manhattan-loft cool".
{qtube vid:=qPt_bFf-arI}
The two-level home has one bathroom plus plumbing for a second shower.
With an open design with 5.1 metre ceilings, 301/133 Goulburn Street had a northerly aspect through large windows.
There was one security car space. 
It had last traded for $815,000 in mid-2012 when <a href="/news">Surry Hills apartments median was $505,000</a>, against the <a href="/news">current $585,000 median</a>, according to RP Data.
It first sold in 2000 at $490,000 and then at $575,000 in 2004.
Property Observer gleans the warehouse for department store Mark Foy's had previously had eight sales above $800,000, with an $845,000 prior record. The most recent was a one bedroom loft style apartment sold at $800,000.
The most popular suburb for auctions on the weekend was Surry Hills with nine auctions, according to Australian Property Monitors.
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