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>
Hi Margaret,
I just settled and was having a look at the settlement and saw lender’s mortgage insurance (LMI) was charged as a lump sump straight out.
I would have preferred that LMI payment to be added on to the loan.
Can I change this now and how can I do this in future?
Should I wait next time so I don’t have to pay any LMI?
Kind regards,
B.
Margaret's answer on the next page. Please click below.
<hr class="system-pagebreak">
Hi B,
LMI, also known as lender’s mortgage insurance, is a policy which is taken out by the bank, on your behalf, on any loans where the amount of that loan is greater than 80% of the total value of the property you are buying.  
The purpose of LMI is for the protection of the bank – if for some reason you default on your loan and do not repay it, the insurer will pay to the bank any shortfall between the loan balance and the sale price of the property, and then pursue you to get it back.  This might occur if you just stop paying the loan, or if you have a forced property sale and the property sells for less than what you owe to the bank.
The reason it applies to loans of more than 80% of the property’s value is that loans where the owner starts out with little equity are the ones most at risk. Where you borrow less than 80%, there is a greater chance that any forced sale would still recover enough to pay off the debt.
Be aware that although the insurance policy covers the bank (and not you), you pay the premium.  LMI does not cover you for any inability to meet repayments – and so it is not a policy for you, and if you want to cover your mortgage payment in the event of your incapacity to pay, you would need a mortgage repayment protection policy as well.
Where LMI is concerned, you usually have two options – to meet the payment yourself, or add it to the loan. Note that if you add it to your loan, not only will you increase your mortgage repayments (and essentially pay interest on this premium), you reduce the equity you have in the property.  This means you own less of the property, and it would then take you longer to gain the equity you need to leverage into the next property.  It is for this reason that I always advise borrowers who need LMI to meet the payment themselves, if possible.
It’s unlikely that you will now be able to go back and simply add it to the loan without paperwork.  The bank may, however (and depending upon the loan type) go back and reapprove your loan at a higher amount to allow you to  repay yourself for the LMI.  This is known as a loan increase and is possible with many loan types these days.  A loan increase is easier as it does not require a discharge of mortgage to be put in place - it’s just an additional advance of funds.  Note that in doing this you are changing the loan to valuation ratio further (as LMI can be up to 2% of the loan amount) which incurs further LMI again.
Be aware though that if this is an investment loan and you choose to do this, the interest on the amount you ‘draw back’ will not be tax deductible. The tax office will consider this amount to be a payment to you, and therefore of a ‘personal nature’, and so they will not allow deductibility on that portion of your interest.
Regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
</body></html>

mlomas-KC9MUPZ6Ca

Do I have to pay LMI as a lump payment?

<html><body>
One can't help but feel for the City of Melbourne and their plans for Arden-Macaulay. If ever there were a redevelopment zone which has been battered and bruised by the state government, it's <a href="http://www.melbourne.vic.gov.au/buildingandplanning/futuregrowth/structureplans/ardenmacaulay/Pages/ArdenMacaulayStructurePlan.aspx" target="_blank">Arden-Macaulay</a>. Like all development structure plans, they are dependent on the private sector playing their part and as the old adage goes, the private sector invariably wants certainty over anything else. With Arden-Macaulay there's very little if you look at the state of play with regards to public transport, the great enabler for any redevelopment zone.

A heavy focus of the <a href="http://www.melbourne.vic.gov.au/BuildingandPlanning/FutureGrowth/StructurePlans/ArdenMacaulay/Pages/Information.aspx" target="_blank">Arden-Macaulay structure plan</a> rests on the addition, post 2025, of a new Metro station at the end of present day Queensberry Street in North Melbourne. This station was proposed as part of the Melbourne Metro Tunnel project from the Bracks/Brumby era and still favoured by the current opposition ALP.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/arden_macaulay_metro1.jpg" rel="gallery-all" title="Maps from the City of Melbourne Arden-Macaulay Structure Plan www.melbourne.vic.gov.au"><img alt="" class="image-article-full-width-580px" height="597" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/arden_macaulay_metro1.jpg?itok=X9tk-0zC" title="Maps from the City of Melbourne Arden-Macaulay Structure Plan www.melbourne.vic.gov.au" width="580"></a>

<figcaption>Maps from the City of Melbourne Arden-Macaulay Structure Plan www.melbourne.vic.gov.au</figcaption></figure>However as announced during the recent Victorian budget, the current government has walked away from the original Melbourne Metro tunnel project and stamped its own claim on new rail capacity in central Melbourne through the announcement of the Melbourne Rail Link project.

Making matters worse, <a href="/news/planning-minister-approves-eastern-section-of-east-west-link" target="_blank">the Planning Minister has waived through the section of the East-West Link</a> project which will see the footprint of CityLink expand across the Moonee Ponds creek, when the East-West Link planning assessment committee recommended deferral while other design options were reviewed. The CityLink barrier is going to get wider.

One could argue the region's public transport infrastructure is already conducive to supporting increased densities - especially around the existing train stations at North Melbourne, Macaulay and Flemington Bridge - however the political ping-pong that has become public transport planning in this state does not provide much certainty for anyone. New projects, frequencies and routes will help the region develop quicker and likewise improve the attractiveness for private investment.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/arden_macaulay_metro2.jpg" rel="gallery-all" title="Maps from the City of Melbourne Arden-Macaulay Structure Plan www.melbourne.vic.gov.au"><img alt="" class="image-article-full-width-580px" height="406" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/arden_macaulay_metro2.jpg?itok=TlKca4pQ" title="Maps from the City of Melbourne Arden-Macaulay Structure Plan www.melbourne.vic.gov.au" width="580"></a>

<figcaption>Maps from the City of Melbourne Arden-Macaulay Structure Plan www.melbourne.vic.gov.au</figcaption></figure>If we take the state opposition's rhetoric on face value and should they win the Victorian election in November, the original Melbourne Metro Tunnel and Arden Central station would be built at some point in the future alongside their promise to grade separate 50 level crossings.

If the current government manages to hang on, despite recent polls painting a very dire and soul-searching picture, the significant rail capacity increase through the area will be borne out of the Sunbury line being diverted through the Melbourne Rail Link and frequencies are increased on the Upfield and Craigieburn lines.

While the Arden-Macaulay Structure Plan was adopted in February 2012, what this region and many other redevelopment zones in Melbourne need is a decisive victory at the state election.

And a decisive new or re-elected state government is required to lock in major transport project plans very early in the term so the work of the private sector, public and social housing and local government sectors can begin in earnest and focus on the principles in the structure plan: regenerating the public realm, creating a culturally and socially engaged community and creating local liveable neighbourhoods for people from a diverse and inclusive range of income levels.
</body></html>

Alastair Taylor

Long live Arden-Macaulay?

<html><body>
Consumers are increasingly looking online for bathroom products for renovations, but little is available that offers high quality at a low price, according to a supplier that hopes to fill the gap in the market.
The sanitary wear and bathroom fixtures market in Australia is worth about $1.4 billion a year but major competitors in the sector do not have a significant online presence, said Calvin Ng, director of Disruptive Investments Group which recently bought a 50% stake in <a href="https://www.allurebathrooms.com.au/" target="_blank">Allure Bathrooms</a>.
“The internet has become where consumers are starting their researching journey particularly in the home renovation market,” Ng said.
Studies show that 51% of consumers research prospective purchases online before visiting a store to buy; 44% research and buy online; 32% research online, visit a store to view the product and then return online to buy; and 17% visit a store first before buying online.
“The line between physical and online is blurring and that’s one of our big strategies,” Ng said. “We intend to have showrooms and distribution centres in every state but we think the bulk of [customers’] research will start on the internet.”
Television programs like The Block and House Rules were helping to fuel a mini boom in the renovation market, while declining housing affordability was encouraging people to renovate rather than buying new homes, Ng said.
Allure Bathrooms started in 2010 designing and selling high-end bathroom fittings, vanities and accessories via eBay, and subsequently through a dedicated online store.
The first physical store opened about 12 months ago in Collingwood, Victoria. Although the supplier has only one store, Ng said it was already receiving orders from all over the country from both wholesale and retail customers.
“There isn’t too much in this space that is well-priced and high quality and that’s a huge gap in Australia,” Ng said.
He added that some of Allure’s products cost half to a third of comparable products from larger suppliers such as Harvey Norman and Reece.
“That’s typical of a market that is ripe for disruption,” Ng said.
Similar trends had already occurred in the markets for home electronics and white goods, with businesses such as electronics supplier Kogan, furniture retailer Milan Direct and white goods retailer Appliances Online, taking market share.
Allure plans to open more stores and franchise the business to develop a wider reach across Australia.
The business is already cash-flow positive and profitable. Disruptive Investments Group reported Allure’s revenue in the six months to January 2014 grew by about 65% compared with the previous six months. 
</body></html>

zfielding-GvX3Uq9KTa

DIY-renovators heading online to snap up home improvement products

<html><body>
In what comes as an “end of an era”, the first ever Lord of the Fries store, on the corner of Elizabeth Street and Flinders Street in Melbourne’s CBD, closed yesterday.
After eight years of residence at shop 9/2 - 26 Elizabeth Street the Lord of the Fries franchise, specialising in vegetarian and vegan fast food for around the $15 a meal mark, is closing its doors.
“We couldn't come to an agreement with our landlord at this store so we must part ways,” the franchise’s official Facebook account explained. However, in the “not too distant future” they’ll be likely opening a replacement store just doors away. This should appease some of their almost 16,000-strong Facebook fan base - many of whom have taken to social media blaming a "greedy landlord" as the reason for the dispute. This has not be stated officially or unofficially by the franchisee.
However, they now have eight stores with a ninth opening at Melbourne’s Southern Cross station on the Bourke Street overpass. Advertisements for staff suggest this store was meant to open earlier this year.
The stores recently announced their potential expansion to India and the US, which seem to be logical choices given the popularity of vegetarianism in both locations. Just last year they expanded into Sydney, with a 537 George Street opening in August.
The Elizabeth/Flinders Street Lord of the Fries outlet was regularly busy, and held late night hours – 10am to 11pm Monday to Thursday, 10am to 4am Fridays and Saturdays and 10am to 10pm on Sundays.
The now defunct store is located next to Starbucks Coffee and Walkers donuts.
They opened the store in November 2005 having previously operated as a food van.
Since then, their stores have become strong cultural hang outs with eye-catching designs. For instance, their Northland and Chadstone outlets had Russell &amp; George design the alternative outlets with a "modern" theme. The Northland outlet is no longer in operation.
Other stores include Brunswick Street, Flinders Station, Chapel Street, Melbourne Central and Swanston Street.
The offices above the outlet at 276 Flinders Street, or Melbourne Square, have also recently been up for <a href="https://www.realcommercial.com.au/property-offices-vic-melbourne-5575685" target="_blank">vacant possession lease through Savills</a>.
Photo courtesy of Facebook.
</body></html>

jduke-EHk3XBmHkn

First Lord of the Fries outlet, Elizabeth Street, closes over landlord dispute

<html><body>
A preliminary weighted average clearance rate of 68.1% was recorded this week across capital cities compared to 65.4% last week and 66.9% this time last year.
Based on the auctions conducted in the first six months of this year volumes have risen by a remarkable 38% since 2013. More people are selling homes by auction this year and this is a sign of a market that is performing well and delivering results for sellers and buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3424" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Capital-city-580x425.jpg" alt="RP Data National Auction Comment" width="580" height="425"></a>
Sydney continues to see the highest rates of sale at auction. This week a preliminary clearance rate of 73.2% was recorded compared to 70.1% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3425" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Sydney-580x381.jpg" alt="RP Data Sydney Auction Comment" width="580" height="381"></a>
The improvements in the Melbourne market over the last few weeks have been sustained with a preliminary clearance rate of 69.3% recorded compared to 69.1% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3426" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Melbourne-580x382.jpg" alt="RP Data Melbourne Auction Comment" width="580" height="382"></a>
In Brisbane, a preliminary clearance rate of 43.9% was recorded compared to 32.2% last week.
Adelaide recorded a clearance rate of 66.7% compared to 59.7% last week.
In Canberra a clearance rate of 63.6% was recorded and in Perth there was a clearance rate of 50%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3427" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Brisbane-580x385.jpg" alt="RP Data Brisbane Auction Comment" width="580" height="385"></a>
 
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3428" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140629-Adelaide-580x385.jpg" alt="RP Data Adelaide Auction Comment" width="580" height="385"></a>
</body></html>

rlarocca-zWhvjay44N

Capital city auction numbers rise 38%: RP Data's national auction wrap

<html><body>
The last financial year surprised many with strong economic results. 
Despite concern around the Australian economy’s dependence on the mining industry, shares, bonds and property have all done well over the last 12 months. Interest rates remain at record lows and the economy continues to grow. 
As businesses are now <a href="https://www.smartcompany.com.au/legal/42593-a-guide-for-small-business-the-legal-changes-you-need-to-know-about-for-the-new-financial-year" target="_blank">planning for the new financial year</a>, we take a look back on the highs and lows of the past year and asks experts what to expect for the year ahead.
Sharemarket
Chief economist for the NAB, Alan Oster, told SmartCompany he expects the sharemarket to continue to perform well after finishing the year up about 12%.
“Basically the economy behaved as expected, maybe a touch stronger,” he says.
“It’s all about export versus domestic demand, which is still quite weak.”
He is tipping another “moderate” 10% increase in the sharemarket for the year ahead. 
Consumer confidence
Consumer confidence <a href="https://www.smartcompany.com.au/growth/economy/42155-consumer-confidence-hits-gfc-lows-450-jobs-to-go-at-qantas-midday-roundup" target="_blank">took a hit after the budget in May</a> but Warren Hogan, chief economist at ANZ, says it is “slowly coming back in recent weeks”.
“The overall economy has been pretty good given the challenges we face and a lot of uncertainty still hanging around after the financial crisis,” he says.
Looking to the next financial year, Hogan says there is still “a lot of uncertainty” about how much traction the non-mining recovery will get in Australia.
“We are still watching that closely, all the signs are that it should happen. If we get a broader lift in non-mining business investment and the job creation associated with that it could be a very strong year for Australia.”
Property
Australia’s strong economy has received a big boost from new home building, according to Harley Dale, chief economist of the Housing Industry Association.
“We saw a recovery in new residential construction over the course of the year and that generated demand in parts of the retail manufacturing and supply distribution sectors that you wouldn’t have seen in the economy without that new home building recovery,” he says.
But Dale warns new home building can’t on its own successfully transition the Australian economy away from mining related investment towards more domestic-focused activity.
“The year ahead is another strong one for new home building, we appear to be on track to build the second highest number of new homes on record and hopefully maintain historically high levels of new residential construction in 2015 as well,” Dale says.    
Interest rates
The Reserve Bank of Australia has <a href="/expert-insights/finance/rba-keeps-interest-rates-on-hold-for-july">held firm on interest rates again today</a> and experts predict this approach will continue over the next 12 months.
“We believe interest rates will remain on hold until the middle of 2015 with a slight chance of a further interest rate reduction this core cycle,” Dale says.
Similarly, Hogan says “interest rates are unlikely to do anything”.
“The consensus is for a modest increase next year, but I wouldn’t be surprised if we see interest rates in the same place,” he says.
Dollar
The fate of the Aussie dollar is “one of the uncertainties” hanging over Australia’s economy for the next financial year, according to Hogan.  
“At the moment it is a little bit high compared to the underlying fundamentals,” he says.
Hogan says he would like to see the Aussie dollar come down over the next six to 12 months to the mid 80c mark, which would help the economy.
“One of the risk factors for the year ahead is that the dollar will go up because the rest of the world is in such poor shape that capital finds its way to Australia and pushes the dollar up,”
However, Oster predicts currency will only drift down to “90c maybe a bit below”. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

cwaters-YrtBR88nBe

The end of financial year: Experts tip strong year ahead

<html><body>
The Reserve Bank of Australia (RBA) has again chosen to keep the overnight cash rate at its record low level of 2.5%. The cash rate has not moved since August 2013.
The decision was widely anticipated by property industry commentators, with 18 surveyed industry experts recently <a href="/expert-insights/finance/experts-predict-rba-will-keep-rates-on-hold-for-july-finder">predicting the cash rate would stay on hold</a>.
RP Data’s research director Tim Lawless says that the cash rate is likely to stay on hold for the rest of the year.
“The RBA interest rate decision came at a time when value growth across the housing market continues to trend higher, albeit at a lower rate than in the recent past and the Australian dollar has remained stubbornly high around the ninety four cent mark,” said Lawless.      
“RP Data recently reported that dwelling values were down 0.2% over the June quarter, dragged down by a very weak May result and a partial recovery of values in June.  Policy makers, including the RBA, are likely to be reassured by the slowdown in housing market conditions, where the rate of growth earlier in the year was increasingly viewed as unsustainable.
“It is looking increasingly like the official cash rate will remain at its low setting, at least for the remainder of this year, which should continue to support housing demand.  Capital gains over the past financial year were recorded at 10.1% across the combined capital cities, however we are expecting growth rates to wind down over the coming financial year as natural affordability constraints and low rental yields in the largest capital cities work to slow the rate of capital gains.
LJ Hooker chief executive Grant Harrod said that a future increase is expected.
“The continued stability of rates will give buyers extra confidence, even with speculation an increase will eventually come,’’ said Harrod.
“We have seen property price growth soften as the market heads into winter but, even still, demand is strong as seen in the volume of sales and auction clearance rates around Australia’s various markets.’’
LJ Hooker national research manager Mathew Tiller said unemployment levels remain at a stable 5.8%, in spite of concerns over the retail and mining sectors, while inflation is within the RBA’s target band.
However, he said that international markets could affect local interest rates offered by banks.
“In the US and EU, rates are set at close to zero and are not expected to move till mid-2015, while the risk of deflation in Europe has seen the European Central Bank introduce negative interest rates for bank deposits,” said Tiller.
“Major lenders here may look to tap into this cheap source of debt.”
Photo courtesy of Newtown grafitti/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
</body></html>

jrichardson-uRX5hFdKfN

RBA keeps interest rates on hold for July

<html><body>
Governor Glenn Stevens' July Statement:
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China's growth slowed a little earlier in the year but remains generally in line with policymakers' objectives. Commodity prices in historical terms remain high, but some of those important to Australia have declined.
Financial conditions overall remain very accommodative. Long-term interest rates and risk spreads remain low. Emerging market economies are once again receiving capital inflows. Volatility in many financial prices is currently unusually low. Markets appear to be attaching a very low probability to any rise in global interest rates over the period ahead.
In Australia, recent data indicate somewhat firmer growth around the turn of the year, but this resulted mainly from very strong increases in resource exports as new capacity came on stream; smaller increases in such exports are likely in coming quarters. Moderate growth has been occurring in consumer demand. A strong expansion in housing construction is now under way. At the same time, resources sector investment spending is starting to decline significantly. Signs of improvement in investment intentions in some other sectors are emerging, but these plans remain tentative as firms wait for more evidence of improved conditions before committing to significant expansion. Public spending is scheduled to be subdued. Overall, the Bank still expects growth to be a little below trend over the year ahead.
There has been some improvement in indicators for the labour market in recent months, but it will probably be some time yet before unemployment declines consistently. Growth in wages has declined noticeably. If these and other domestic costs remain contained, inflation should remain consistent with the target over the next one to two years, even with lower levels of the exchange rate.
Monetary policy remains accommodative. Interest rates are very low and for some borrowers have edged lower over recent months. Savers continue to look for higher returns in response to low rates on safe instruments. Credit growth has picked up a little, including most recently to businesses. Dwelling prices have increased significantly over the past year, though there have been some signs of a moderation in the pace of increase recently. The exchange rate remains high by historical standards, particularly given the declines in key commodity prices, and hence is offering less assistance than it might in achieving balanced growth in the economy.
Looking ahead, continued accommodative monetary policy should provide support to demand and help growth to strengthen over time. Inflation is expected to be consistent with the 2–3 per cent target over the next two years.
In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.
</body></html>

po-LsXgBTHBmX

Strong expansion in housing construction underway: Glenn Stevens' July statement

<html><body>
There was a slight shift to higher required vendor discounting and a longer time on market during June, according to the latest Australian Property Monitors report from the Domain group.
Brisbane was the most telling reversal given its days on market jumped from 84 to 104 days. The discount required of Brisbane vendors to secure a sale rose from 5.5% to 6.2%.
<img src="/images/2014/07/01/apm-july-1-one.gif" alt="">
The Gold Coast still had the highest required vendor discounting but its 6.2% rate was well below the 15% peak in 2011. 
The Gold Coast also notched up quicker selling properties, down to 106 days - a marked improvement of the 180 days required in early 2012.  
<img src="/images/2014/07/01/apm-july-1-two.gif" alt="">
Sydney vendors typically need a 5.1% discount off their asking price to achieve private treaty sales, according to the APM report. It was the lowest of the cities, but the highest level since December last year.
</body></html>

jchancellor-FAypfDUnLy

Gold Coast on the mend, but slight shift to higher discounting in Brisbane: APM Domain Group

<html><body>
Latest home loan approval figures from Mortgage Choice suggest that it is variable rate home loan products that are continuing to prove popular.
In June, variable rate home loans accounted for 75.34% of all home loans written in the month – up 1.21% on May.
This comes as no surprise to Mortgage Choice spokesperson Jessica Darnbrough.
“The Reserve Bank of Australia has made it clear they are happy with the current setting of monetary policy and they could leave rates on hold for some time yet. With that in mind, more borrowers are opting for a variable rate home loan, rather than lock themselves into a fixed rate,” Darnbrough said.
Across the variable rate home loan offerings, ongoing discounts are currently the most popular – securing 39.62% of all loans written, with demand highest in Western Australia and New South Wales, 47.91% and 45.32% respectively.
“Australia’s lenders are hungry for business at the moment and, as such, have been offering some sensational variable rate discounts in a bid to attract borrowers and grow their market share,” she said.
Fixed rate demand was down in every state other than New South Wales and Queensland, where they were up marginally. Fixed rate demand dropped 10.44% in Victoria, and fell marginally across Western Australia and South Australia.
“While fixed rate demand has dwindled a little in certain states recently, the reality is borrowers can still secure themselves a very competitive rate – regardless if they opt for a variable or fixed rate home loan,” she said.
</body></html>

Latest Expert Insights

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

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

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

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News