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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Choosing an apartment that is best suited to your personal lifestyle or investment goals is now about much more than just price.
Apartments today deliver an ever more urbane choice, where buyer demand has lead to a revolution in quality and design. As discussed in my last post, <a href="/expert-insights/buying/how-mixed-use-developments-will-continue-to-benefit-a-wide-range-of-mixed-users">the shift in user demographics plays a major role</a> and for many people apartments clearly tick the box for quality, design excellence and innovation. But this has not been achieved overnight.
Apartments from the 1970s may well reflect what is sometimes described as ‘the decade that taste forgot’. The 1970s brought us open plan living, colour – think orange and lime green – terracotta tiles, shag pile wall to wall carpets, big windows, indoor plants and one trend in particular, the use of exposed brick that still dominates some areas of our near city suburbs.
In the mid 1970’s apartment prices in Sydney hovered near $22,000 a decade later $66,000 and then in 1993 apartment prices started to rise and demand also increased for what was starting to become a more all-embracing product. Today the median price for a two bedroom apartment is around $850,000 but these bear no relation to any 1970s ancestor.
But even though some apartments can typically still cost less than a similar-grade house (although that gap is fast closing), in 2014 price alone is not the main consideration driving demand. While the decision to buy a particular type of dwelling is tied to demographics, shrinking household sizes, our ongoing housing shortage and a growing population are all factors.
The reality is that today, apartments are the home of choice for many people and first-class design, I think, is one key reason that can over-reach issues of affordability.
In February 2000 the then New South Wales Premier Bob Carr criticised the quality of the design of residential flat buildings. He challenged architects, the development industry and Local and State governments to do better.
“Australians can lead the world on how to balance urban densities with environmental comfort … The government, with councils, developers and architects, must work together on how to lift our game and create better, more liveable and sustainable suburbs.” (Premier Bob Carr, Sydney Morning Herald, 16 Feb 2000.)
Now almost 15 years after Bob Carr made those remarks has the industry faced up to his model and has the challenge been met?
I think we are well on our way to meeting, and in fact going past the ambitions. There will always be pressures to deliver enough housing in a high-growth future. But we also need to ensure that developments are well located and history shows that the arrival of new projects in some areas is not always welcomed.
However, this should not be allowed to frustrate or diminish the quality of medium or high-density residential buildings. In fact just the opposite. Because as design and quality improve new developments can add value to an area, boosting local demand and delivering sought after homes.
New apartments in our sought after suburbs are in high demand but there is only a limited supply of land, as for example, former commercial and industrial sites are regularly transformed. Understanding that sites are increasingly rare developers are now more than ever aiming to deliver exceptional projects to the market, from a marketing perspective I know that buyers now have ever higher expectations, and rightly so.
Picture of Woolooware Bay development: Supplied.
You can read Peter's discussion with Woolooware Bay architects, Kevin Driver and Angus Henderson from Turner Architects at Peter's blog, <a href="https://www.projectagenda.com.au/" target="_blank">Project Agenda</a>.
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pchittenden-eLqUUC8TWW

The design dividend: First-class designs make apartments the home of choice for many buyers

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As stories go, there won’t be many bigger this year than the offshore investors who appear to be buying Australian real estate without Foreign Investment Review Board (FIRB) approval.
Back in March 2014 I wrote: <a href="/expert-insights/investing/the-end-of-the-great-chinese-property-splurge">The end of the great Chinese property splurge?</a>. This was gathering momentum as I heard that the federal government was about to announce an inquiry headed by federal MP Kelly O’Dwyer – probing offshore sales in Australia. In fairness I have watched this for quite a few years now and it was just not adding up – well not until now anyway.
The House of Representatives economic committee report has suggested that lawyers and relatives have been provided a passageway that bypasses FIRB approval as foreign investors believe the $85,000 fine for such a breach is simply the “cost of doing business in Australia”. It should be noted that since 2010 there have been no prosecutions, which is understandable as prior to this inquiry the government had absolutely no idea that this new Australian real estate acquisition method actually existed, let alone had become widespread.
Over the past 48 hours we are starting to get a clearer picture –<a href="/news/firb-powerless-to-identify-or-stop-illegal-residential-purchases-as-chinese-investment-surges"> FIRB powerless to identify or stop illegal residential purchasers, as Chinese investment surges.</a> 
This is not the first time the federal government has been found wanting. I remember back in the early 1990s when the Australian Taxation Office (ATO) wrote to every real estate agency in Australia demanding a comprehensive list of every landlord transaction, rents received, tenants names, full disbursements together with every sale we had made dating back five years (the government back then was then moving into the computer era.)
There are a number of interesting points that I have observed in recent times; the first of which is that each and every property enquiry is actually home-grown. The suggestion that Chinese buyers are looking at China’s largest international property website <a href="https://list.juwai.com/?ag_kwid=504-3-1d922c23cb56ad27.0b2639f826f4bfa3&amp;gclid=CjgKEAjwn-WcBRD61NHM-uqDrm4SJADrP4tPf9IcWh5ZVBKDht7Df4L3GWPa66SNUdaaWJ-tGCWYC_D_BwE" target="_blank" title="Juwai">Juwai</a> simply does not stack-up. We have been paid subscribers to the Juwai website for a few years now and have never yet received a single enquiry – I have also spoken to a number of other agents/agencies who all say the very same.
To try and put this into perspective it’s vital we look at exactly what’s happening here given some agencies have spruiked that such an overseas market exists when the vast majority all confirm the actual contact comes from residents here in Australia – via the Australian property portals. I am yet to speak to an agent who has received an enquiry from a Chinese property portal so that should dispel that myth of where vendors should be redirecting advertising monies.
Another factor that requires consideration is that earlier in 2014 the Canadian government immediately axed its 28 year old visa scheme designed to attract wealthy foreigners to the country. Maybe it’s just a coincidence. However, Treasury advised the Inquiry that there is currently a surge in applications – 10,244 in the nine months to March 2014, compared with 6,567 in the entire 2012/13 year. When you’re buying a multimillion dollar home a fine of just $85,000 is insignificant when one looks at the big picture.
Given these recent revelations, many would now argue the fine should be a proportion of the purchase price, should the Abbott government decide to act on these revelations.
<a href="https://www.rwm.com.au/files/2014/06/12-06-2014-11-38-49-AM.jpg"><img class="aligncenter size-full wp-image-21002" src="https://www.rwm.com.au/files/2014/06/12-06-2014-11-38-49-AM.jpg" alt="12-06-2014 11-38-49 AM" width="567" height="357"></a>
Yesterday the International Monetary Fund (IMF) announced that Australian house prices are among the top five most expensive in the world. This leads me to another observation.
Following “the recession we had to have” in the early 1990s we saw the emergence of a powerhouse new business model that drove our property markets through to the global financial crisis (GFC) – namely merchant banks.
Over the period of the GFC top-end property values dropped by up to 30% given the bankers were effectively removed from the property markets. In the interim we did see an accelerated entry into the prestige property markets by the mining fraternity albeit quick. The banks have re-calibrated and back into a better space in terms of profitability although there is serious doubt they will again dominate these markets again.
It has become very clear that the emerging new player in our top-end property markets has been the Chinese and up until now we all believed this was through the correct government channels. No doubt the vast majority did follow this process, but following what has been revealed in this inquiry the government now must fully investigate this matter.
I don’t believe the overseas investors are the main reason why we have seen a total collapse of first home buyers in Australia. Whilst they are an obvious contributing factor, we are forgetting that we are seeing unprecedented low interest rates where local and overseas investors have taken full control of this market demographic.
With governments across Australia now focused on building new infrastructure it is imperative that as a result of this inquiry a full investigation is launched immediately, as infrastructure drives property markets.
Last week the Premier Mike Baird announced that next week’s NSW budget will reveal a billion dollar plan to <a href="https://www.dailytelegraph.com.au/newslocal/north-shore/nsw-premier-mike-baird-confirms-a-military-rd-tunnel-is-the-best-solution-to-daily-traffic-woes-for-sydneys-north/story-fngr8h9d-1226950408944" target="_blank">overhaul Spit and Military Roads</a>. Now nothing has happened to these areas since they started construction on the Spit Bridge in 1952. The northern beaches are easily the most under-valued prime real estate in Australia because of this antiquated transport system. A vastly improved transport infrastructure would in all probability see top-end property prices potentially escalate by as much as fifty (50)%.
Based on this announcement this is the next Sydney boom area so it would be nice to see that those investing into these markets are 100% approved by the Australian government.
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robertsimeon-hRNTwJyXkQ

Offshore investors buying property without FIRB approval - it's time for a full government investigation

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A preliminary weighted average clearance rate of 66.6% was recorded this week across capital cities compared to 60.6% last week and 63.3% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3366" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Capital-city-580x426.jpg" alt="RP Data national auction comments - Capital cities" width="580" height="426"></a>
Sydney has returned a result consistent with its performance over the year and Melbourne has seen a strong week with another 1,000 plus weekend and a clearance rate above trend.
In the Sydney market a preliminary clearance rate of 71.7% was recorded compared to 67.3% last week.
<img class="aligncenter size-large wp-image-3367" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Sydney-580x381.jpg" alt="RP Data national auction comments - Sydney" width="580" height="381">
In Melbourne there was a preliminary clearance rate of 69.6% recorded compared to 62.4% last week. The traditional winter slowdown is more akin to the spring market in some recent years.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3368" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Melbourne-580x384.jpg" alt="RP Data auction comments - Melbourne" width="580" height="384"></a>
In Brisbane a preliminary clearance rate of 44.7% was recorded compared to 37.3% last week.
Adelaide recorded a clearance rate of 50% compared to 59.4% last week.
In Canberra a clearance rate of 42.9% was recorded and in Perth there was a clearance rate of 25%.
In Tasmania three homes sold from 14 auctions.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3369" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Brisbane-580x381.jpg" alt="RP Data auction comments - Brisbane" width="580" height="381"> </a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3370" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140615-Adelaide-580x387.jpg" alt="RP Data auction comments - Adelaide" width="580" height="387"></a>
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rlarocca-zWhvjay44N

Demand in Melbourne auction market rises: RP Data's national auction market wrap

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A new group executive, enterprise services and chief information officer has been appointed, according to Ian Narev, Commonwealth Bank’s current chief executive officer.
David Whiteing has been appointed to take the role, and is an internal promotion, according to Narev.
“David is a highly experienced business and IT executive with a track record of delivering technology and process transformation in many industries, including financial services, both in Australia and overseas,” Narev said.
Technology and productivity are noted as the long-term strategies priorities, looking to build on their current “extensive investments” in technology.
Whiteing joined CBA in September 2013, as team lead for the Architecture and Planning team in Enterprise Services.
He was previously vice president of enterprise systems at BP in the UK.
His new role commences on 14 July 2014.
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jduke-EHk3XBmHkn

CBA’s internal promotion sees new group executive 

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GUEST OBSERVATION
Here are the top four lessons learnt by Homely at AREC 2014: 
<ol>
<li>
Agents aren’t limited by talent  One of the main messages that was conveyed through the whole conference is that it isn’t about talent. Being a successful agent comes down to hard work and systems. Agents like James Tostevin spoke about having a routine and being dedicated. There was a strong consensus that doing the right thing and actively listening to customers is half the battle to being a successful agent. Tostevin ended his speech with the quote ‘Play to your strengths’ 
</li>
<li>
The art of prospecting  Key note speaker Jordan Belfort (aka 'The Wolf of Wall Street') was engaging and charismatic. Whilst some people <a href="/news/wolf-of-wall-streets-gold-coast-arec-2014-attendance-continues-to-provoke-debate">were not sure if he should be there</a>, he did leave some good points. His main lesson he wanted to reiterate was the four second rule. You have four seconds on the phone to be perceived as an expert and a quarter of a second in person to be taken seriously. If you miss your opportunity on your first impression, you won’t get another shot. Ensuring your appearance is impeccable and your opening lines are engaging is essential for success. 
</li>
<li>
We all have boulders in our lives. It’s how we deal with them  Engaging and charismatic speaker Aaron Ralston spoke about how every individual will encounter boulders in their lives. His choice of the term boulders was used in both a metaphorical and physical example after he was trapped and needed to set himself free by cutting his arm off. Ralston’s message was that you need to expect to be challenged, but challenges make us stronger and are there for a reason. How you approach them and ultimately overcome them shapes the type of agent you will be, but also human being. 
</li>
<li>
Priorities are the cornerstone to success By far a serious contender for the most engaging speaker of the conference was Chip Eichelberger. Eichelberger spoke about how priorities are the key to success. He mentioned that so many people get caught up in the minor details of things, whilst dismissing their true priorities. He mentioned that you need to listen to the support team around you “Sometimes a good coach doesn’t tell you what you want to hear, but what you need to hear” the importance of a good team around you and structure in your approach to business was the main message he imparted.
</li>
</ol>
Finally, one of the quotes that resonated with a lot of people was “Nothing is fun until you're good at it” stated by Eichelberger. In order to make real estate fun, it takes hard word, dedicated, and systems. The top agents will implement a true system that ensures efficiency and helps productivity.
Rocky Bartolotto is director, chief auctioneer at auction services and national sales director at <a href="https://homely.com.au/">Homely.com.au</a>.
<a href="https://homely.com.au/" style="line-height: 1.3em;"></a><a href="https://homely.com.au/" style="line-height: 1.3em;">Homely.com.au</a> is a free to list, banner-ad free, real estate website that helps people find their next home. You can submit your listing <a href="https://agent.homely.com.au/submit-your-listings/" target="_blank">here</a>.
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po-LsXgBTHBmX

 The top four lessons learnt at AREC 2014

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GUEST OBSERVATION
It’s rare when something from Parliament obtains the obsessive attention of the real estate industry.
The Parliamentary inquiry into foreign investment in residential real estate is an exception. Since so many interesting facts have come to light through the inquiry, this post is a helpful cheat sheet to the most important ones.
Foreign Investment: It’s Actually Plummeting
One of the most interesting submissions to the inquiry comes from Urban Taskforce Australia. They pointed out that foreign investment in Australia is not increasing, but decreasing. (Read <a href="https://www.aph.gov.au/DocumentStore.ashx?id=d3eae632-8ae7-43b3-aff3-4680dc17993a&amp;subId=252519" target="_blank">their submission here</a>.)
That’s happening despite the greater number of buyers from China, who have been the salvation of any number of stranded vendors.
Overall foreign investment in Australian plummeted by 18%, according to official statistics, between 2011 and 2013. Some governments would consider such a large and fast drop to be a crisis in the making.
This is where the Chinese come in. In the context of rapidly falling foreign investment, the Chinese are the rare bright spot. I know this isn’t how things are usually presented, but it’s what the facts show.
The US, Singapore, the UK — these once-reliable friends have dramatically cut their investments in Australian property. With other friends deserting our real estate market, the Chinese are almost alone in sticking with us. 
Rather than abandoning our property market, Chinese have actually increased their investment. They haven’t yet reached the heights of $8.2 billion that the Yanks reached in 2012. However, with a 40% increase to $5.9 billion last year, the Chinese can hardly be accused of failing to pull their weight.  
Foreign Buyers Mean More New Buildings
The submission from Meriton, Australia’s largest apartment builder, showed that foreign buyers actually create new housing in Australia. (Read <a href="https://www.aph.gov.au/DocumentStore.ashx?id=a30eb4e3-146a-4a68-905e-06f75b083e13&amp;subId=252539" target="_blank">the Meriton submission here</a>.)
Meriton wrote that foreign investment "provides a significant contribution to the stock of new Australian housing," increasing supply for sale and rent.
Meriton founder Harry Triguboff says that foreign investors buy 13% of his new apartments – often off the plan. That provides "vital initial impetus” that makes possible the construction of Meriton’s new complexes. 
He also points to government data that shows that foreign buyers pay an average of $1.06 million for established homes and $646,000 for new dwellings. That’s much more than the national median and puts them in another league altogether than first home buyers.
While Foreign Buyers Spend More, They Pay Less
One submission to the Parliamentary inquiry involved actual new research. Lorenzo Casavecchia and Adrian Lee of the University of Technology in Sydney looked at about 74,000 established home sales. (You can <a href="https://www.aph.gov.au/DocumentStore.ashx?id=3e731a61-1f26-42c5-93ae-238064206991&amp;subId=252425" target="_blank">download their paper here</a>.)
They found that the number of Chinese buyers went up over time. That matches with the data we’ve already looked at, showing more Chinese investment in recent years.
What’s shocking, given what passes for accepted wisdom about Chinese buyers, is that the pair also found that, “on average, Chinese buyers pay 2.04% or $13,800 less than other buyers.”
I won’t get into every little detail of this fascinating research paper, so suffice to say that they controlled for just about every conceivable factor that could affect the price.
The low-down is this: while foreign buyers buy more expensive homes, they seem to get them at a bargain. That makes it unlikely that they are pricing other buyers out of the market. 
It’s hard to price someone out of the market when you’re paying less than the market price.
Perhaps the most poignant submission to the Parliamentary inquiry was from a Mr Kristijan Gjikoski. He wrote, simply and directly. Here are his own words, slightly edited for length (read <a href="https://www.aph.gov.au/DocumentStore.ashx?id=036c65fb-30ee-4a79-925d-1456f8b0a035&amp;subId=252269" target="_blank">his whole submission here</a>):
"Please don’t change any laws in relation to foreign real estate investment, [which is] creating jobs in manufacturing, trades and services. Long term overseas investment can been seen as a automatic stabiliser as when things go bad." 
Andrew Taylor is the co-CEO of <a href="https://juwai.com/" rel="nofollow">Juwai.com</a>.
Image courtesy of JJ Harrison/Wikimedia/<a href="https://creativecommons.org/licenses/by-sa/3.0/deed.en" target="_blank">Creative Commons</a>.
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ataylor-LB7AWVFTs9

The Parliamentary inquiry into foreign investment: A quick submissions cheat sheet

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Sydney’s inner and beachside suburbs, along with Darwin and Bunbury in Western Australia, boast the country’s lowest unemployment rates, <a href="https://www.theage.com.au/business/the-economy/sydneys-inner-city-joins-darwin-and-bunbury-with-lowest-unemployment-rates-20140612-3a0dg">Fairfax</a> reports.
While the national unemployment rate remained steady in May at 5.8%, rates for individual cities, suburbs and towns differ markedly.
The Sydney CDB, along with its eastern and inner-southern suburbs, hold the nation’s lowest unemployment rate at 2%, followed by Sydney’s northern beaches, Darwin and Bunbury at 2.3%.
Meanwhile, Ipswich in Queensland, south-eastern Tasmania and western NSW rank among the toughest places to find work.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Sydney’s inner and beachside suburbs have the lowest unemployment rates

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The proportion of loss making real estate re-sales has peaked, according to the latest RP Data report covering 64,518 residential property resales nationally over the first quarter of 2014. <div class="layoutArea">
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Nationally 9.8% of all homes which sold over the three months to March 2013 incurred a gross loss, just a tweak above the 9.7% in the December 2013 quarter.
It compared with a recent peak of 13.1% of re-sales over the three months ending January 2013.
With around 6.5% of all capital city re-sales recording a gross loss, capital city have had a lower proportion of loss making re-sales than the national average since early 2009.
The report coincides with record lows for subprime RMBS housing loans, as measured by Standard &amp; Poor's Performance Index (SPIN).
<img src="/images/2014/06/16/pain-june-16-one.gif" alt="">
Source: RP Data
The lowest proportion of loss making re-sales were in Sydney at around 3%.
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Over the three months ending March 2014, 6.5% of all capital city re-sales recorded a gross loss compared to 16.0% of sales at a loss across the combined regional areas. Loss-making re-sales are down from 9.4% a year ago across capital cities and down from 18.2% in regional markets. 
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Huge loss making re-sales are being recorded within the regional Queensland marketplace and in Tasmania.
Queensland’s Wide Bay region has recorded the largest proportion of loss making resales, with 30.6% of all March 2014 quarter re-sales transacting at a price lower than what the home was purchased.
The weakness in these two regions is mostly reflective of the conditions across the lifestyle markets where the correction in home values has been more significant, Tim Lawless at RP Data has previously advised.
Of those homes sold at a loss across Australia, those held for a short period of time have been more susceptible to loss despite home values having risen over the past year.
<img src="/images/2014/06/16/pain-june-16-two.gif" alt="">
Source: RP Data
Around 12% of owners who purchased and sold in the same year, sold at a gross loss, the RP Data Pain/Gain report noted.
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"Keep in mind that the actual number of homes re-sold in less than a year is very small," Tim Lawless noted earlier this year.
But a greater proportion of loss making sales has occurred across those homes re-sold after three to five years (19.4%). 
"If an owner wishes to double their initial outlay upon re-sale they generally need to hold the home for at least a decade," Tim Lawless advised earlier this year.
The December quarter report showed 55.1% of homes re-sold between 10 and 15 years after purchase sold for double the purchase price and 95.1% of resales after 15 years were for more than double the initial purchase price.
The gross value of losses on homes re-sold over the March quarter was recorded at $381.1 million and the average gross loss per loss making transaction was $60,544.
Some 90.2% of all re-sales over the March quarter of 2013 transacted at a gross profit, with 30.6% of all re-sales at least doubling their money compared with their original purchase price.
The gross profit on these re-sales was $12.2 billion and the average gross profit per profit making transaction was $225,088.
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jchancellor-FAypfDUnLy

Sydney at record low loss takers, with Queensland's Wide Bay the worst: RP Data

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Foreigners’ access to the $5,000 New Home Owner Grant will be scrapped in ­tomorrow’s state budget.
Foreign investors have been able to secure $5,000 for each new home purchase. They represented 1.3% of the scheme's take-up.
The decision, heralded in today's Daily Telegraph, follows <a href="https://www.dailytelegraph.com.au/realestate/buying/foreign-buyers-are-cashing-in-on-nsws-new-home-grant-scheme/story-fni0cate-1226817098977" target="_blank">a campaign by the The Daily Telegraph since February</a> which secured the support of Opposition Leader John ­Robertson.
The grant will be only available to individuals who are Australian citizens or permanent residents.
The Telegraph's state rounds reporter Andrew Clennell published previously unavailable data that showed some $2 million has been paid out to non-residents.
“We’re all about making sure these grants help those in our own backyard,” NSW Treasurer Andrew ­Constance told the News Ltd audience.
Since the New Home Owner Grant scheme was instituted in July 2012, there have been 429 ­recipients who are non-residents — or 1.3% of recipients.
The figures come despite NSW Premier Mike Baird expressing recent concern about the lack of official information on foreign investment residential purchases in NSW.
His concerns were made to <a href="/expert-insights/investing/nsw-treasury-in-the-dark-with-firb-foreign-buyer-data">the House of Representative inquiry into foreign ownership of residential property</a>.
The scheme began after the government scrapped first homeowner grants for existing properties and raised them for newer properties.
There have also been a small number of multiple applications.
From now on the New Home Grant will be restricted to one grant per person per year.
Opposition Leader John ­Robertson called in February for the government to change the New Home Grant scheme.
“The O’Farrell Liberal government is paying $5000 to overseas property investors to buy homes and land in Australia – that’s money taken straight out of the pockets of young first home buyers,” Opposition Leader John Robertson said at the time on the then O'Farrell government policy.
“Young couples doing the right thing and working flat-out to save for that deposit are paying the price for the O’Farrell Liberal government’s bungling of this scheme."
Last week John Robertson noted ABS figures showed that just 1,099 first home buyers received financing to purchase a home in April 2014 – down from 1,191 in March 2014 and less than half the level of the 2,415 who received financing in March 2011 before the Liberals came to power.
“Mike Baird has been patting himself on the back over the weekend for extending the threshold for first home buyers purchasing new properties – the ABS has confirmed that he is locking more young families out of owning their own home.
“First home buyers now represent only 7.6% of the NSW housing market – they have plummeted from 18.3% share of the market in March 2011."
The Shadow Treasurer Michael Daley accused the government of giving a leg up to overseas speculators – "and people buying their second, third or tenth property."
The grant is paid as a discount on stamp duty for properties worth up to $650,000 and vacant land worth up to $450,000. 
<a href="/expert-insights/building/nsw-first-home-buyers-can-buy-up-to-750-000-under-extended-fhog">The grant will be extended to new home purchases up to $750,000 in another pre-budget advisory</a>. 
The prospect of overseas non-citizens buying up newly built houses and apartments in bulk - all receiving multiple $5,000 grants under the NSW New Home Grant Scheme - was alarmingly raised in the Daily Telegraph.
<a href="/news/stay-calm-local-buyers-dominate-in-sydneys-sutherland-shire">It was wrapped within the now refuted suggestion that these Chinese investors were keeping first home buyers out of the property market</a>.
 
 
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Foreign buyers to be denied NSW new home owners grant

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The most exciting design feature in your home is the contrast between that white and neon chevron throw and your tasteful dove grey couch.
When you step into your house, you’re greeted by a sea of neutral tones. You’re sick of pretending to care about scented candles.
Perhaps you, like Manhattan resident Chris Kooluris, could do with a trip down memory lane. This used to be his bedroom:
<img src="/images/2014/06/13/nFtxZ07.jpg" alt="">
Some US$48,000 later, this is his bedroom:
<img src="/images/2014/06/13/NPPiq6k.jpg" alt="">
Chris and his home <a href="/expert-insights/building/fantasy-renovation-manhattan-gamer-turns-his-apartment-into-a-video-game-arcade">made headlines last week</a> when he revealed his home, which he transformed into a home arcade – complete with pinball machines, arcade games, and action figures. 
If you’re feeling a little jealous of Chris’s apartment, never fear. You too could one day live in your own video game arcade.
First, you’ll need to get rid of all that timber. Timber floorboards, desk, cabinet, bedhead – there’s no room for organic materials in a 1980s style video game arcade. Out it goes.
Next, paint those sandy beige walls over to dove grey, and move in your first arcade game. This one’s pretty special: it’s a Donkey Kong: Kong Off game.
Chris tells Property Observer that this game used to belong to Donkey Kong champion Steve Weibe himself, and is signed by Weibe and his supposed nemesis (and hot sauce purveyor), Billy Mitchell. For those who aren’t as well versed in their Donkey Kong battle mythology as they should be, it might be time to take a break from the renovations to sit down and watch <a href="https://www.imdb.com/title/tt0923752/" target="_blank">King of Kong: A Fistful of Quarters</a>.
<img src="/images/2014/06/13/sn17cfn.jpg" alt="">
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<li>Cost: US $3,000 (AU $3,184)</li>
</ul>
The next arcade game in Chris’s collection is the Punch Out!! (fully restored, of course)
<img src="/images/2014/06/13/3.jpg" alt="">
<ul>
<li>Cost: US $2,100 (AUD $2,229)</li>
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Then comes the flooring. Chris chose colourful carpet floor tiles for his home arcade.
<img src="/images/2014/06/13/PKPNQwl%20-%20Imgur.png" alt="">
<ul>
<li>Cost: US $1,200 (AU $1,274)</li>
</ul>
Time for some more games, courtesy of Disney. There’s Tron, which Chris tells us is an original, “in very good condition with new side art, control panel and plastics”.
Then there’s Fix It Felix Junior, which some might recognise from the movie Wreck It Ralph. According to Chris, as few as 30 Fix It Felix original units exist, with less than 10 in private homes. He also got a Ms Pac Man unit, which plays 60 different games.
<img src="/images/2014/06/13/fIvlU5W%20-%20Imgur.png" alt="">
<ul>
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Cost: Tron – US $2,500 (AU $2,652). Fix It Felix Junior – US $6,500 (AU $6,897). Ms Pac Man 60-1 – US $2,000 (AU $2,122)
</li>
</ul>
But of course, you don’t want to let your hobby make you anti-social. You’ll need a multi-player unit, like this Street Fighter II themed Dream Home Arcade Pedestal, which plays 25,000 different games.
And, of course, a television to go with it. And don’t forget the décor. It will look best surrounded by video game marquees.
<img src="/images/2014/06/13/eIm3hhl%20-%20Imgur.jpg" alt="">
<ul>
<li>Cost: Dream Home Arcade Pedestal – US $3,000 (AU $3,184). Sony 55 inch television – US $1,700 (AU $1,804). Video game marquees – US $500 (AU $531).</li>
</ul>
Even the most enthusiastic gamer has basic human needs. For that, there’s a vending machine. Look, it even has fruit.
<img src="/images/2014/06/13/pgif5x5%20-%20Imgur%201.png" alt="">
<ul>
<li>Cost: Rhino vending machine – US $350 (AU $371)</li>
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You tossed that bed, but you have to sleep on something. Chris went for a leather fold out futon, so there was plenty of room for game play in waking hours.  And, of course, a Teenage Mutant Ninja Turtles quilt.
<ul>
<li>Cost: Fold out bed - US $750 (AU $796). Teenage Mutant Ninja Turtles quilt - US $45 (AU $48).</li>
</ul>
<img src="/images/2014/06/13/xQwnhqo.png" alt="">
Any renovation show will tell you that details are everything. There’s Transformers artwork by Tom Whalen, stools, Twin Galaxies logo decal (apparently drawn up by Chris’s then fiancée) and Street Fighter action figures.
<ul>
<li>
Cost: Transformers artwork by Tom Whalen (framed) - US $350 (AU $371). Stools - US $300 (AU $318). Twin Galaxies Fat Head - US $120 (AU $127). Street Fighter SOTA Action Figures - US $600 (AU $637)
</li>
</ul>
But if you think that’s those constitute the finishing touches, you’re wrong. First, you’re going to have to lay down US $15,000 (AU $15,917) on a collection of Transformers. Property Observer, having a few Transformers collector contacts of our own, guesses that this collection (partially pictured below) took quite a few years for Chris to amass.
 <img src="/images/2014/06/13/nB8tKmo%20-%20Imgur.png" alt="">
<ul>
<li>Cost: Transformers collection - US $15,000 (AU $15,917).</li>
</ul>
Finally, there’s the pinball machine. While <a href="https://www.wired.com/2014/05/arcadia/" target="_blank">Chris told Wired </a>that he once promised to contain his hobby to a single room of his apartment, it seems that it’s spilled over into his living room, with this Lord Of The Rings themed pinball machine. 
<ul>
<li>Cost: Lord of the Rings pinball machine - US $7,000 (AU $7,428)</li>
</ul>
“Arcades are a gateway drug for a pinball collection,” Chris told Wired. While it looks like he'll press "A" to continue, the average person might put have put the controller down a long time ago.
All photos supplied by Chris Kooluris.
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