Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

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.

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

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?

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

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Sydney's price growth this year will be between 5% to 8%, estate agent John McGrath forecasts.
"That would give us a collective 20% growth for the first couple of years of this cycle and that’s a significant – yet sustainable, rise in property values," he told the readers of <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert" target="_blank">his Switzer blog</a>.
He still expects further price growth in 2014 but says it will inevitably slow. 
John McGrath had earlier this year forecast up to 10% growth this year, so the upper range of his forecast has been adjusted slightly downwards.
"In Sydney, I think we will see 5% to 8% growth this year off the back of almost 15% last year," he said this week.
McGrath says the past year in Sydney real estate had been a "really exciting time."
"The market has been in full recovery mode and the hottest I’ve seen it in many years. 
"However, people are now starting to talk about it being all over," he recently noted. 
"I’ve been doing this for over 30 years and I can tell you recoveries never occur in a straight line. 
"We often have a bull run at the start; then after a period of great growth, it eases off. 
"Buyers become concerned they’re going to pay too much, others get sick of missing out and take a break. 
"Demand comes off the boil and price growth slows.  And that’s the key. It slows, it doesn’t stop or go into reverse.   It’s very healthy for markets to take a breather now and then during a new growth cycle. 
"That’s how price bubbles are prevented. 
"We saw 14.5% growth in 2013. At the start of this year, I was tipping 5 to 10% growth with an inevitable decline in the frenzied activity of 2013.  Sydney achieved 4.1% in the first quarter.  If we have just 0.5% growth every month for the remaining nine, we’ll end up with 8.6% for the year. That’s good, steady growth."  John McGrath said last year, the strongest segment in Sydney was inner city and beachside markets between $750,000 and $2 million. 
"Now, we’re seeing more activity in the higher price brackets and RP Data’s research confirms this trend." He said that as with most market recoveries in Australia, what happens in Sydney eventually happens everywhere else. 
"If Sydney is starting to slow down overall, other markets are probably about to heat up."
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John McGrath lowers his 2014 Sydney forecast to 5-8% price growth

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The BRW Rich-lister Mark Rowsthorn had sold one of Melbourne’s best-known CBD sites, the old Savoy Tavern on the Bourke and Spencer street corner.
It has been bought by the Fragrance Group, a Singapore-listed hotel and ­residential developer controlled by the property tycoon Koh Wee Meng who has been busy acquiring Australian sites.
The 1800-square-metre site was bought for $44.5 million.
It last traded in 2005 at $9.9 million, when bought from the Republic of Nauru who had approval for a 47-storey office tower.
The single-storey 1970s-era brown brick-veneer pub which on opening sold more beer than any other in the state long stood derelict for almost two decades until Mark Rowsthorn re-opened the pub in March this year.
The then Melbourne eyesore was described by the Melbourne Lord Mayor Robert Doyle as “a scab on the knee of the city.”
It is one of the first views of Melbourne that arrivals at Southern Cross station are greeted with. “Subject to obtaining all regulatory approvals, the group intends to redevelop the property into a high-rise mixed-use development,” Fragrance Group told the Australian Financial Review after its off-market sale by Colliers agent Matt Stagg.
Last week Fragrance secured 555 Collins Street from the developer Harry Stamoulis for $78 million.
Photo source: <a href="https://www.facebook.com/TheSavoyTavern" target="_blank">Facebook</a>.
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Mark Rowsthorn sells Savoy Tavern site on Spencer Street, Melbourne

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Another of the six apartments in The Block Sky High block in South Melbourne has become are available for rent through Hocking Stuart agent Jacob Davis.
The fifth floor penthouse (pictured above)<a href="https://www.hockingstuart.com.au/UNIT_501_142_PARK_STREET_SOUTH_MELBOURNE_VIC_3205_RENTAL" target="_blank"> is available at $1,495 a week</a> which reflects a reduction in its asking rents. 
<a href="/news/south-melbourne-block-sky-high-penthouse-available-for-1-600-weekly-rental">Last July, Property Observer wrote</a> that the penthouse apartment - Trixie and Johnno's renovation -  had been listed for rent. It <a href="https://www.hockingstuart.com.au/UNIT_501_142_PARK_STREET_SOUTH_MELBOURNE_VIC_3205_RENTAL" target="_blank" style="line-height: 1.3em;">was available at $1,600 a week</a>, reflecting a 5.1% gross rental yield.
The fully furnished apartment sold at $1.605 million at its televised late July 2013 auction.
Three of the six apartments in The Block Sky High block in South Melbourne were recently available for rent. The furnished apartments were pitched at the corporate relocation market.
The offering included the second floor apartment renovated by indie-pop duo Matt and Kim and the third floor apartment renovated by the Melbourne couple, Bec and George.
Designed by architecture firm Brenchley Architects, the building at 142 Park Street in South Melbourne is a conversion from a 1960s motel building. It comes with with shared rooftop entertainment facilities.
The second floor, full floor 220 square metre had a $1600 weekly asking price through Lina D’Ambrasio at City Residential Real Estate Docklands. It is now longer available.
It has three double bedrooms all with ensuites.
The 201/142 Park Street, South Melbourne apartment has electronic blinds throughout and a television in every room.
The apartment at 301/142 Park Street (pictured below) - undertaken by Bec and George in the 2013 series of The Block Sky High - was also available at $1,600 a week rental, but is now no longer available
<img src="/images/2014/05/15/south%20melbourne%20may%2015%20two.jpg" alt="">
It was listed through Arlette Humphry at Interface Property Group Armadale.
The third apartment recently for rent was the garden apartment which was renovated during the final week challenge, and then retained by the Watercress production company.
It had a $1,450 weekly asking price <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413086599" target="_blank">through Dingle Partners leasing agent Daniella Ferraro</a>, but is no longer available.
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Block Sky High, South Melbourne penthouse up for rent for less

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GUEST OBSERVATION
Tax audits are practically a rite of passage for Australian business owners, with as many as 1,000 businesses audited every financial year.
Apart from the disruption to ‘business as usual’ that an audit can cause, there are significant stress levels to factor in, too.
So, how can we ensure that our relationship with the taxman remains a positive one?   
The audit lottery
The audit process can sometimes feel a bit like the lottery – not the exciting kind where you can win a lot of money, but in the sense that anything can happen at random.
The most important way to appease the taxman is by maintaining tidy and compliant books and records.
Of course, this requires a commitment by the business owner from day one. Setting an organised and thorough foundation early on empowers business owners to better manage performance. There are so many tools these days to help us create efficiencies that enable business growth – the right software can truly become a business owner’s best friend and can easily be programmed to comply with the ATO’s GST and tax requirements, as well as any bookkeeping requirements specific to an individual business’ needs. The chart of accounts and tax codes in the software are also set up to ensure accurate reporting.
The technology behind today’s accounting software has also advanced to offer features like bank feeds which update instantly and constantly stay up to date, so you are ready to submit your year-end results well before the due date.
A little bit of due diligence at set up ensures you have nothing to fear if you ever hear the ATO knocking on the door!
Lodge on time, every time
Another way to stay friendly with the taxman is by lodging all of your Business Activity Statements, Instalment Activity Statements and tax returns on time, every time.  
Late returns and unpaid balances are essentially a major red flag and call unwanted attention from our friends at the ATO, potentially triggering a request to audit. Of course, the accounting software you’re using should have the tools to easily prepare your BAS and IAS and track the amount owed to the ATO.
Businesses that update their records regularly are able to monitor business performance and identify issues before things spiral out of control. Successful businesses are those that monitor their cash flow on a regular basis, manage their debtors, creditors, stock control, set budgets and plan for future growth. By doing this, business will avoid the cash shortages that make it challenging to pay the ATO their debts – and duck under the ATO’s spotlight in the first place.
Industry benchmarks
Another way to avoid the taxman’s eagle eye is to make sure that your business falls within the benchmarks for your industry.
Each year the ATO releases small business benchmarks to compare like-type business performance against their ratios. The ATO publishes benchmark information on its website, and it derives benchmarking information from business activity statements and tax returns lodged by businesses.
This isn’t to suggest that you lower the bar set for performance and successes, but it is worth noting that if your income or expenses fall significantly outside of the parameters of these benchmarks, it’s a pretty likely bet that the ATO will take a special interest in your business activity. Be prepared to give them a status check if you’re in this situation!
What can cause you to fall outside the benchmarks?
Claiming personal expenses as part of your business, inflating deductions or underreporting incomes will distort your results compared to other businesses in your industry. Here are some examples of common mistakes that can distort business results:
<ul>
<li>Topping up the fuel of family member’s cars and claiming it as business car usage.</li>
<li>Claiming mobile phones that are private.</li>
<li>Claiming personal trips as business related.</li>
<li>Expensing capital items purchased.</li>
<li>Over-claiming on GST – by claiming on items that are exempt of GST like donations, bank fees, drawings etc.</li>
<li>Not reporting cash income</li>
</ul>
While nobody rolls out the welcome mat for an ATO audit, it goes without saying that business owners that keep their books tidy, up to date and compliant can breathe a sigh of relief if the taxman ever knocks on their door.
Pam Madytianos is director of <a href="https://www.twopeas.com.au/" target="_blank">2 Peas</a> and a certified MYOB consultant. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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po-LsXgBTHBmX

How to stay friends with the taxman

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There are many measures of affordability in the marketplace, sadly I believe that many of these measures fail to accurately depict the affordability or otherwise of housing in Australia.  
The main reason being that housing affordability is an extremely complex issue and many factors drive the affordability of housing. In my future posts I am going to investigate some of these factors and tell you what you should really be asking yourself about affordability when purchasing a home.
Can I start by stating that simplistic means of comparing property prices between countries I believe are ineffective. 
Due to different tax regimes, standards of housing and attitudes to property and wealth accumulation there may be perfectly good reasons why a household is prepared to spend more on housing in Australia for example than they are in the United States.  I think common measures such as the median multiple (ratio of household income to property prices) are not necessarily a good way to measure affordability or otherwise, there are a lot more factors at play.
Interest rates
Interest rates are obviously an important component in determining housing affordability.  When interest rates are lower, interest repayments on home loans are lower and as a result ‘affording’ the repayments on a mortgage should be easier.  Of course, as we are seeing at the moment, lower mortgage rates often encourage higher property values. 
So while it’s true that lower interest rates make housing relatively more affordable, if values are rising and sales increase then it can somewhat off-set the affordability benefit of lower mortgage rates.
Furthermore, the typical home loan in Australia is 25 years and the vast majority of home loans are on a variable rate.  As a result, as the Reserve Bank adjusts monetary policy there is virtually an instant effect on household budgets and balance sheets.  For example, at the moment the standard variable mortgage rate sits at 5.95% however, over the past 10 years the variable mortgage rate has averaged 7.27%, over the last 20 years it has averaged 7.45% and over the past 25 years (the typical home loan length) it has averaged 8.47%. Over the past 25 years, standard variable mortgage rates have been as high as 17.0% and as low as 5.75%.
The point is that interest rates can vary greatly over 25 years and over the life of the loan the current interest rate is not a great means of measuring the cost of a mortgage over its lifetime.
Wages / Income
If you are going to take out a mortgage on a home (as most purchasers do) you are going to need an income and you are going to need some savings.  In Australia there are a number of measures of wages/income and it is difficult to know exactly which one is best to use to measure housing affordability.
The National Accounts measure the ‘Real net national disposable income – chain volume’.  This measure does have a number of shortcomings in that it is not an individual measure and that it includes items that one can’t really spend such as superannuation.  Additionally this data is only available from a national standpoint. 
The Australian Bureau of Statistics (ABS) publishes its wage price index each quarter however, it measures wages only and doesn’t measure income captured from other sources.  The Census is undertaken each five years and does report on the median weekly household income however, the shortcoming here is that it is only updated every five years. 
We also have the Household Income Survey from the ABS however it is only undertaken bi-annually and takes a fairly macro view of household incomes
Unfortunately all of these measures have significant shortcomings which need to be considered when looking at any housing affordability measure.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Labour force / unemployment
Paying off a mortgage eats up a significant portion of a family’s wage.  Undoubtedly if home values weren’t so high and mortgages weren’t so large disposable incomes would be much greater.  Although labour force data or unemployment statistics need not necessarily be an input into any housing affordability measure they are a key consideration for someone looking to purchase. 
The threat of unemployment means that despite the fact housing may seem affordable it is less likely someone would purchase. Obviously if you are unemployed it is going to be difficult to purchase a home.
Another factor to consider is although measures of income show that over recent years wages and disposable income have increased, what they don’t take into account is how many more women are working nowadays.  Labour force data shows that in May 2014, 54.1% of the workforce was male and 45.9% was female, 30 years ago 62.3% was male and 37.6% was female.  Today, 35.5% of full-time workers are female compared to 28.9% 30 years ago. 
The point here is that although household incomes have increased, a big proportion of the increase is due to the structural change associated with a greater number of women in the workforce.  
The rising prevalence of dual income households means that whereas 20 to 30 years ago couples could afford mortgage repayments on a single wage, today they largely require dual incomes.
Home values / prices
Most measures of housing affordability look at median prices or median values. 
The important thing to remember here is that a median is just the middle value so there are just as many homes worth more and less than that figure.  In fact the median price looks only at the middle value of properties which have sold over a period.
This obviously has significant shortcomings because what is predominately selling could be at the affordable or expensive end of the market and this could bias the median one way or another.  Remember that typically only 5% to 7% of total housing stock transacts in a given year.
Another important consideration here is that a national median measure doesn’t really tell you very much at a localised level.  In Australia, 66% of residents live in a capital city with around 55% in Sydney, Melbourne, Brisbane or Perth. 
Quite simply many residents don’t have a choice but to live in a capital city so if you are trying to determine affordability in Melbourne, the cost of housing in Mildura is of no valuable comparison whatsoever.
Rental rates
If you don’t own a home or pay-off a mortgage you have to live elsewhere, for the most part non-homeowners rent.  The cost of renting is an important consideration when trying to determine housing affordability.  If rents are increasing but home values are flat or falling purchasing a home may start to look a more attractive prospect. 
Once again the challenge with a measure which compares rents to house price (or mortgage repayments) is that it is not a localised analysis.  For example for the cost of renting in Paddington in Sydney you may actually be able to pay off a mortgage in Guildford but to the renter is the opportunity cost of owning their own home and being further away from the city centre, harbour and the beaches worthwhile? 
Who knows but for anyone looking to purchase these are the sorts of questions they need to be asking themselves.
The other key consideration is that the ongoing costs associated with owning a home as opposed to renting are difficult to determine, but they are much more than renting.  As a renter, the ongoing costs generally include: the rent, the bond, electricity, gas (if applicable), cleaning (if you move rentals) and the cost of moving if/when you move. 
As an owner of a home the costs incurred include: the mortgage, electricity, gas, council rates, stamp duty when you purchase, ongoing maintenance of the property, strata fees (if you own a unit) and agent fees if/when you decide to move.  The ongoing costs associated with owning a home are much greater than the ongoing costs of renting.
Who does housing affordability affect most?
Housing affordability affects everyone.  The high cost of housing acts as a disincentive for people to move to more appropriate locations, discourages people from upsizing and downsizing and discourages movement intra or interstate for employment.  The group most affected by housing affordability however is those who don’t as yet own a home.
Again if we think about many of the measures of affordability used they look at typical or median prices values and compare to interest rates and typical wages.  The problem with this approach is that very few people are actually typical.  As a generalisation, most people that rent are younger, starting out their careers. 
There is a high likelihood that their wage is currently lower than the median (although there is a good chance it will increase as they are promoted or move jobs).  If their wage is below the typical wage then they should not be looking to buy the typical (or median house).
Of course there are plenty of renters that earn above average wages but choose not to purchase as well but when trying to tackle the affordability question I think many of the measures that we look at are far too simplistic, but hamstrung by the quality and granularity of income data. 
Housing affordability is an individual thing and none of the measures really tell the true story about how affordable or unaffordable housing in Australia is.  When determining whether you can afford to buy a home I think the most important things to consider are:
<ol>
<li>What are current mortgage rates and at what higher level would I not be able to repay my mortgage?</li>
<li>How secure is my job and what would happen if I was to lose my job for an extended period?</li>
<li>Over the next few years what is the realistic expectations for my wage, will it rise and by how much?</li>
<li>What impact would it have if I found a partner or lost a partner on my ability to repay the mortgage?</li>
<li>If I plan to have children, children cost a lot what impact would that have on my ability to repay the mortgage?</li>
<li>Compared to my current rent and associated costs, how much more is paying off a mortgage and the other day-to day costs of home ownership really going to be and can I afford this?</li>
<li>What am I willing to sacrifice in order to buy a home; lifestyle, location, overseas travel etc?  What is the opportunity cost of buying a home?</li>
</ol>
I am sure there are many more questions to ask when looking to purchase but I think as a start these questions are essential.  I say that the measures of affordability which are readily available should be taken with a grain of sale. 
It’s more important to ask yourself some tough questions about whether or not you can really afford to be a home owner.  If you have any doubt you really need to consider whether it is worth the risk or not.
For what it’s worth, I think that housing affordability is a significant issue for young Australians, particularly those within our capital city markets.  he major problem is that most Australian’s choose to build wealth through property and 23 years of unabated economic growth has on exacerbated this. 
The challenge now is how can you deliver affordable housing for younger Australians without bringing down the cost of existing housing which politically and economically would be detrimental to the overall health of the Australian economy.
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ckusher-ujnxiKuFQs

Forget affordability measures and ask yourself some tough questions

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People who stare at graphs on computer screens and never get out of the office are lining up to declare that the national property boom is over.
I’d like to declare that we haven’t had a national property boom - but one is about to start.
Here’s what I mean. The only price boom so far has been in Sydney. A national property boom is when all the capital cities and many significant regional centres record double-digit annual price growth. We clearly did not have that in 2013: only Sydney among the major cities excelled last year. The last time we had a national property boom was a decade ago.
Those who think that we’ve had a significant national event – and one that has now ended – are making a series of mistakes ...
<ul>
<li>They’re looking at national data and failing to understand that Sydney is elevating all the national figures.</li>
<li>They’re extrapolating the Sydney situation nationwide.</li>
<li>They’re being swayed by monthly aberrations with median prices and other statistics.</li>
<li>They’re over-analysing auction data.</li>
</ul>
In other words, they’re stupid and they’re lazy.
Meanwhile, significant momentum is building in real estate around Australia. Home-buyers remain busy and investors are becoming increasingly active. Building approvals are continuing their upward trend (ignoring the occasional monthly distortion). The latest survey shows a rise in consumer sentiment towards real estate.
Above all else, there is a rising tide of sales activity in most parts of Australia.
Many markets in Sydney and Melbourne still have upward momentum. But, more importantly, other capital cities are stirring. In Brisbane, Adelaide and Hobart, which last year showed little in the way of price growth, have significantly rising sales volumes.
Darwin, which appeared to taper off in 2013, sparked back to life late in the year and early in 2014. Perth, which did well in late 2012 and early 2013, still has many markets with growing sales activity.
There is also a push happening in regional Australia. Sydney’s growth has rippled out to nearby regional cities, such as Gosford, Newcastle and Wollongong. There are also busy markets in Dubbo, Tamworth, Wagga Wagga, Goulburn, Albury, Tweed Heads, Port Macquarie and Coffs Harbour.
Perhaps the greatest centre of <a href="/news/qld/regional-queensland-back-on-the-growth-path-with-sustained-momentum">strongly rising regional markets is Queensland</a>. Cairns, the Sunshine Coast, the Gold Coast, Hervey Bay, Townsville and Toowoomba all have a major head of steam.
There are few major population centres in <a href="/news/sa/adelaide-is-the-standout-market-and-opportunity-for-investors">South Australia outside Adelaide</a>, but two of them are ascendant markets: Mount Gambier and Port Lincoln. A number of markets in Western Australia, notably south of Perth, are sparking to life, including those in Mandurah, Bunbury and Busselton.
My conclusion is that rumours of the death of the Australian property boom have been greatly exaggerated. In many ways, it’s just in its infancy.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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terryryder-YECXbqmri2

The property boom isn't over - it's only just beginning

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Well, more real estate baloney.
This time it is about first home buyers – or the lack of them.
The ABS statistics released today show that first home buyer activity, measured as the proportion of all owner-resident lending, is the lowest in 23 years.
You would have heard all about it on the news tonight or will read about in tomorrow’s papers.
But something is wrong here.
<blockquote>
The fact is, we should all question a lot more of the real estate data that is being fed to us.
</blockquote>
And like many things these days in the real estate world, it’s the figures that are incorrect.  The ‘official’ statistics are measuring only part of the whole, yet very few question the results.
In short, there is a hell of a lot of first home buying taking place.
Most first home buyers buy an established property, and in most places across Australia, first home buyer grants do not apply to established property, only new stock.  And where it does apply, it amounts to very little, and to many it isn’t worth the paper work.
So, for mine, the ABS (along with others) is not correctly corralling first home buying activity.
It is interesting to watch the property intelligentsia trying to explain the reasons for the fall in first home buyer interest, as shown in the first two charts below.
"Generation X are choosing to rent rather than buy – they are buying investment housing instead of homes for themselves – housing is unaffordable so they cannot buy – we need more grant monies"; and it goes on.
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-1.jpg"><img class="alignnone size-full wp-image-7359" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-1.jpg" alt="FHB #1"></a>
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-2.jpg"><img class="alignnone size-full wp-image-7360" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-2.jpg" alt="FHB #2"></a>
I think the statistics are wrong.
Why wouldn’t first home buyers be buying?
<ul>
<li>Interest rates are extremely low</li>
<li>Banks are keen to lend</li>
<li>Mum and dad are practically paying for the deposit to get rid of their ‘boomerang’ adult children (at 30, one wonders if ‘children’ should really apply)</li>
<li>Yet according to the same talking heads who claim low first home buyer take-up – housing affordability is the best in over a decade</li>
<li>And to prove that point, there has been little change in the size of the average first home loan in recent years – see my third chart below</li>
</ul>
<a href="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-3.jpg"><img class="alignnone size-full wp-image-7361" src="https://matusikmissive.com.au/wp-content/uploads/2014/06/FHB-3.jpg" alt="FHB #3"></a>
Late last year the ABS put out a great study – sadly it comes out only every five years or so – called Housing Occupancy and Costs (catalogue number 4130.0 for those who want to read the 92 page document).  This shows that first home buyer activity is much higher than the housing finance loan data suggests.
The HOC study shows that over the past three (3) years (and importantly, covering much of the recent first home buyer slump) just short of 1 million households (988,000) bought a property across Australia.
Of the 988,000 transactions over the last three years, 36% or 355,000 were first home buyers.  Eight out of ten first home buyers (289,000 or 81%) bought a second-hand or established home.  Just 19% bought a new property or something off-plan.
My conversations with real estate agents, including those selling new stock, indicate that first home buyer activity is much higher than the low levels officially reported.
I suspect that first home buying activity is close to the historic average – something around 35% of the total owner-resident market and around 20% of the total housing market, when including investors.  This is what I am seeing on the ground; and it explains the strong sales results across much of the country over the last 12 to 18 months.
First home buyers must be taking part; otherwise those upgrading or downsizing would not be able to sell as fast or as often as they currently are.  It is first home buyers that make up a significant part of the buying audience for their established homes.
It is good to see that others, too, are starting to question the results.
I note that the RBA, in their current chart pack (June quarter), have left off first home buyers in the graph outlining loan activity across the country.  See the last chart on page 6 of <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">this</a> document.  It has been included in previous RBA charts.
Michael Pascoe, too – thinking man that he is – has also questioned the results.  See <a href="https://www.smh.com.au/business/comment-and-analysis/first-home-buyer-statistics-not-adding-up-20140609-39sam" target="_blank">here</a>.
You should too.
The fact is, we should all question a lot more of the real estate data that is being fed to us.
The media – for the most part – aren’t interested in checking the statistics before they regurgitate them.
Much of what you read these days about property is sadly bunkum.
Ohh…….. and don’t get me started on the need for or accuracy of a daily price index or suburban median house/unit prices!
Visit Michael's <a href="https://www.matusik.com.au/" target="_blank">website</a>, read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">his blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

Have first home buyers really gone missing?

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After being tasked with fixing a zone in their own home, South Australian couple Bomber and Mel were eliminated from Channel 7’s House Rules.
Each team was given 24 hours to return to their house and fix up a zone previously renovated by another team.
Bomber and Mel, who have been dating for the shortest time of the couples, were sent home after fixing up their home’s kitchen, dining room and their daughter Kaitlin’s bedroom.
The zone was originally renovated by Townsville couple Maddi and Lloyd, who installed a teal splash back, complete with black paint splashes in the kitchen, and painted Kaitlin’s room black. Although Bomber and Mel attempted to instil more of their “junk shop chic” sensibilities in their fix up, they couldn’t do enough, with judges Joe Snell and Wendy Moore awarding them just 10 out of 20.
Adam and Lisa were awarded the second lowest score of the night by the judges with a score of just 12 out of 20. They chose to fix up the laundry, hall and guest room that had been previously renovated by eliminated Tasmanian couple Brooke and Grant. Adam and Lisa were the underdogs at the start of the season, but it seemed that their luck had changed after they were awarded the first ever 10 out of 10 score for their renovation of Lloyd and Maddi’s kitchen.
Unfortunately they reverted back to initial form this week, with the judges declaring that they had chosen the wrong zones to fix.
Western Australian couple Russell and Carol took on the laundry and master bedroom of their home, which was originally renovated by Melbourne couple Candy and Ryan. They managed to uphold their house rule of “vintage lux”, tearing down a plywood bedhead that Candy and Ryan had installed and replacing it with an old Balinese door. The judges decided that though they excelled in their master bedroom makeover, their finishing touches weren’t up to scratch. They were given 14 out of 20 for their effort.
Townsville’s Maddi and Lloyd did their best to undo the Brooke and Grant’s work on their master bedroom, walk in robe, and deck. While the judges liked their bedroom and deck makeover, wallpaper woes continued when Townsville presented limited wallpaper options at 24 hour notice. Though the judges were glad the couple had taken down Brooke and Grant’s liquorice striped wallpaper in their walk in robe, their hastily applied mismatching wallpaper wasn’t much better. They scored 15 out of 20.
Previous challenge winners Candy and Ryan, armed with some extra cash, fixed up the zone completed by Adam and Lisa in the first week of the series. The couple tackled the much hated entry, the incomplete study and the family room of their house. They lost marks for barely making a change to the study (beyond purchasing and assembling a desk) but were rewarded for their bright and colourful living room. The judges even liked their glassless framed artwork, with Wendy Moore declaring that the matte finish gave the art an even more contemporary feel – not realising that the couple had accidentally smashed their frame’s glass when transporting the art into the house. Candy and Ryan also scored 15 out of 20 for their makeover.
Next week will see the couples enter the semi-finals of House Rules season two, with each team undertaking garden makeovers. The season’s winning team will have their mortgage repaid in full.
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jrichardson-uRX5hFdKfN

House Rules: Bomber and Mel get the boot after own home challenge

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Retail magnate Solomon Lew has increased his stake in the department store David Jones by just short of 10%, in a bid to undercut the recent $2.2 billion Woolworths Holdings’ takeover or gain influence on the board, <a href="https://www.theage.com.au/business/retail/david-jones-war-heats-up-as-solomon-lew-emerges-from-the-shadows-to-grab-more-shares-20140618-3ack5">reports Fairfax</a>.
The bid confirms market watchers’ suspicions that Lew has been buying shares in takeover target David Jones since 9 May.
Lew’s owned Australian Retail Investments has announced on Wednesday that it now owns 9.89% of David Jones after buying 53.11 million shares for around $200 million.
This considerable stake in Lew’s command could give him the influence to vote down the Woolworths takeover when it is put to David Jones shareholders in 13 days’ time.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Stakes increased in retail battle for DJs as Solomon Lew grabs shares

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A new tender has been announced for the Bennelong, Sydney Opera House restaurant site which was vacated at the end of 2013 by the Paddington-bound chef, Guillaume Brahimi.
“We have scoped potential improvements to the venue and will work with the new operator on those plans, while being careful to respect our obligations as a World Heritage-listed site,” Opera House chief executive Louise Herron said in a statement on the trust website.
It is now more than three months after the Stokehouse plans by the Melbourne-based Van Haandel Group dissolved given their decision opting instead to concentrate on rebuilding their burnt-out Stokehouse premises at St Kilda.
It will be a new, two-part tender commencing late next month.
Chef Matt Moran's Aria Catering will run Bennelong until sometime in 2015 as a premium functions venue while the tender process is being conducted.
Opera House Trust chairman John Symond wants an operator with a concept that embraces Bennelong’s unique qualities and magnificent setting.
Chef Guillaume Brahimi ended his 10-year tenure declining to bid declaring his fine dining style was unsuited to the required seven-day operation. But Ms Herron has affirmed the venue needs to be open day and night, seven days a week. 
The Australian food columnist John Lethlean says those who expressed interest initially have gone "ice-cold" on the idea of an Opera House address where it has been suggested the trust was seeking a base rent of $700,000 to $900,000 a year as well as 5-8% of turnover.
A who's who of restaurant identities were believed to have vied initially for the opportunity including Vue de Monde's Shannon Bennett, <a href="/expert-insights/investing/bills-of-sydney-rides-wave-of-international-success-to-waikiki-hawaii">Bill Granger of Bills</a>, Maurice Terzini of Bondi Icebergs and the operators behind Quay, one of the tender finalists.
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<div class="layoutArea">
<div class="column">
As announced last year, the Opera House is conducting public tenders for all its expiring food and beverage contracts in accordance with NSW Government procurement policy. 
The Opera House received a strong response to the first expressions of Interest stage for the lower concourse bar and restaurant. It has now invited shortlisted applicants to participate in the second stage of the confidential tender process. Their offers will be finalised by late next month. 
The existing long-term contract for the lower concourse venue expires at the end of August. The successful applicant is expected to be operating before the busy summer season later this year. 
</div>
</div>
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