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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GUEST OBSERVATION
It is often <a href="https://theconversation.com/factcheck-does-building-hospitals-schools-and-airports-cost-more-in-australia-than-in-the-us-16540" target="_blank">argued</a> that Australia’s construction sector productivity is lower than most other developed countries, such as the US.
While there are many factors involved, Australia’s overall productivity growth is declining, something that is not economically sustainable.
A 2010 Australian government-funded <a href="https://www.acilallen.com.au/cms_files/acgbuildingsproductivity2010.pdf">report</a> concluded that accelerating the adoption of Building Information Modelling (BIM) in the building sector could improve productivity by between 6 to 9%. It also found that concerted government support for the use of BIM by architects, engineers, builders, contractors, owners and facility managers involved in a building’s life cycle would increase BIM adoption in 2025 by 6 to 16% and produce an economic benefit equivalent to A$5 billion added to Australia’s GDP.
More recently the Productivity Commission, in its draft <a href="/news">report</a> on public infrastructure, recommended government clients look to BIM to help lower bid costs, and require tender designs to be submitted using BIM to reduce overall costs.
What is BIM?
Building Information Modelling has a wide range of definitions depending on its application, but one <a href="https://www.canbim.com/about-canbim-0/faq-1">agreed</a> definition is: "a digital representation of physical and functional characteristics of a facility. BIM is a shared knowledge resource for information about a facility forming a reliable basis for decisions during its life-cycle; defined as existing from earliest conception to demolition."
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/50213/width668/zpsnqtf2-1401858403.jpg" alt="">
A Building Information Model linking 3D with the project schedule leads to 4D. 5D consists of 4D together with cost modelling. More dimensions such as facility management, safety and environmental impacts can be added to create nD. Xiangyu Wang
BIM offers a shared platform where people can collaborate with each other horizontally and vertically along the different stages of the project lifecycle. It allows all members of a construction team to generate the characteristics and functionalities of their building, plant or road network virtually, so as to pinpoint errors before they happen on the real construction site.
The construction process at some level can be regarded as an information flow process. This is especially true for mega-construction, such as hospitals, highways, and LNG facilities.
In Australia, there has been successful use of BIM for <a href="https://www.adelaidenow.com.au/news/south-australia/new-royal-adelaide-hospital-will-help-to-build-south-australias-future/story-fni6uo1m-1226828337517">hospitals</a>, tunnels, highways, airports, petrochemical plants, and office and residential buildings. But there is an identified industry need for BIM guidelines and case studies in the infrastructure sector in Australia, and these are currently being developed by the Australasian Joint Research Centre on BIM.
BIM has the potential to become more innovative and powerful by being integrated with other technologies such as RFID, barcode, laser scanning, augmented and virtual reality, energy and structural analysis tools, GIS/GPS, and mobile and cloud computing, Big Data analysis, and so on.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
How is BIM being used in Australia?
Australia is a laggard in terms of using BIM in the building and infrastructure sector, but we are catching up quickly. For oil and gas, we are leaders, as the oil and gas sector adopted 3D engineering and modelling decades ago, and has been continually improving its understanding and use of BIM over time.
A good example is Project Echo.
Initiated by Woodside Energy, Project Echo is a collaboration between Curtin University, Woodside and about 20 other partners representing government, clients, contractors, consultants and technology providers, with the aim of enhancing technology-enabled productivity for the entire (LNG) industry.
Through the research and innovation, it is envisaged a productivity improvement of 30% is very achievable. While Project Echo is focused on the energy sector, the research will also provide flow-on benefits to mining and infrastructure construction.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/50204/width237/f5fzyx5v-1401857603.jpg" alt="">
Woodside Smart Tag. Xiangyu Wang
One example of how Project Echo is making an impact right now is the Woodside Smart Tag project. The new Smart Tag is not just an ordinary RFID tag, but a tag that can be integrated with other technologies including augmented and virtual reality technologies, allowing a user to communicate with equipment for the first time. The technology displays a 3D model of the component and where it fits in the construction path.
It also allows the user to locate any item, obtain background information about that item, how to assemble it, inspect it, or if necessary order a new item on the spot. This is break-through technology, because by interacting with an intelligent tag the user can communicate with each component. Each component can speak for itself, so to speak, thereby creating a smart work site.
Xiangyu Wang is professor, Woodside Chair at Curtin University.
Xiangyu Wang received funding from Australian Research Council (ARC) Linkage Grant (2013-2016): "Transforming liquefied natural gas (LNG) plant construction productivity through mobile computing technologies." Chief Investigators: Xiangyu Wang, Kok Lay Teo, Ryan Loxton, Martijn Truijens, awarded amount $500,000.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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jake-cSmGT7VXVf

What is BIM and is it the future of construction?

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Housing finance data for April 2014 was <a href="/expert-insights/finance/first-home-buyers-fall-back-to-record-lows">released this week</a> by the Australian Bureau of Statistics (ABS). 
The headline figure for the number of owner occupier housing finance commitments was flat over the month however, dig a little deeper and there are some differing trends emerging.
<img class="aligncenter size-full wp-image-3337" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-1.jpg" alt="Chart 1">
As mentioned, the number of owner occupier housing finance commitments was flat over the month following on from a -0.8% fall in March. This data is split into commitments for refinance purposes and commitments for non-refinances (or new loans). 
Refinance commitments rose by 0.6% compared to a -0.3% fall in non-refinance commitments.  Non-refinance commitments fell over consecutive months and it was the first time this has happened since December 2012. 
Given the number is a count it is important to look at the trend and it is clear from the first chart that the number of owner occupier commitments, whether it be for non-refinances or refinances is beginning to flatten. 
Year-on-year, refinance commitments are 8.6% higher compared to a 5.7% rise in non-refinance commitments.
<img class="aligncenter size-full wp-image-3338" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-2.jpg" alt="Chart 2" width="500" height="179">
The number of owner occupier housing finance commitments for the construction of new dwellings and the purchase of new dwellings have shown a strong rise recently however, as the above chart shows there has been some recent weakness in commitments for the purchase of new dwellings.
The number of commitments for construction of new is almost three times greater than the number for purchase of new nevertheless, the recent weakness is certainly something to keep track of.
<img class="aligncenter size-full wp-image-3339" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-3.jpg" alt="Chart 3" width="500" height="182">
The data on the number of commitments is important however it is narrow in its scope given it does not include investors. 
From a banking perspective, the value of the funds they are lending is arguably more important than the number of loans written. The total value of housing finance commitments (which includes investor commitments) increased by 1.7% in April and increased by the same amount if you remove refinance commitments.
Over the month, owner occupier refinance commitments were 1.6% higher, owner occupier non-refinance commitments were 1.3% higher and investment loan commitments increased by 2.3%.  As the above chart shows, investment and owner occupier lending is at record high levels whereas non-refinance loan commitments are still -5.7% lower than their previous peak. 
In terms of the value of finance commitments all three segments continue to record a rise and are trending higher. 
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Year-on-year the total value of housing finance commitments are 20.4% higher with owner occupier refinances up 19.1%, owner occupier non-refinances up 13.4% and investment loans 29.8% higher.
<img class="aligncenter size-full wp-image-3340" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-4.jpg" alt="Chart 4" width="500" height="179">
It’s also important to look at the make-up of lending across owner occupiers and investment loans. 
Over the month of April, 43.0% of all lending was to owner occupiers for non-refinances, 39.4% was to investors and 17.6% was to owner occupiers for refinances. As the above chart shows the proportion of lending to investors is high on an historical basis. 
In fact investment lending is sitting at levels not seen since late 2003. It is clear from the data that there is significant demand for housing from investment currently. 
The big question of course is how sustainable is that demand given there was a sharp slowdown in this segment of the market shortly thereafter lending last reached similar heights.
<img class="aligncenter size-full wp-image-3342" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-5.jpg" alt="Chart 5" width="500" height="182">
It is interesting to pair this data with recently released quarterly data from the Australian Prudential Regulatory Authority (APRA) about Authorised Deposit-taking Institutions’ (ADIs) exposure to property.  The latest data showed that interest-only loans accounted for 39.4% of all loans over the quarter (a similar proportion to these investor figures). 
However, the data also suggested that loans with a loan to value ratio (LVR) of more than 90% may be getting harder to find with 13.5% of new loans over the quarter with an LVR of more than 90% which was the lowest proportion since September 2011.
<img class="aligncenter size-full wp-image-3341" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-6.jpg" alt="Chart 6" width="500" height="183">
Focussing on lending to first home buyers, there were 6,074 housing finance commitments to first home buyers in April 2014.  This figure was -7.3% lower over the month and -12.7% lower year-on-year. 
As a proportion of all owner occupier housing finance commitments, first home buyers accounted for an equal record low of just 12.3% of the commitments over the month.
<img class="aligncenter size-full wp-image-3343" src="https://blog.rpdata.com/wp-content/uploads/2014/06/Chart-7.jpg" alt="Chart 7" width="500" height="264">
The RP Data Mortgage Index (RMI) which is an index of mortgage events across RP Data’s proprietary platforms has a strong correlation with housing finance data and is a weekly index.  The RMI predicted a softening of activity some six weeks ago and is indicating a sharp rebound in the housing finance data once the May data is released.  Note that the RMI data is correlated strongly to the raw housing finance data not the seasonally adjusted figures which are referred to elsewhere throughout this post.
The data seems to suggest that the growth in the number of new owner occupier housing finance commitments is starting to, or already has, topped out. There is still plenty of activity in the owner occupier refinance and investment segments of the market.  Of course our chief concern remains the high level of investment activity in the market. 
Total returns from residential property have been strong over the past 12 to 18 months however, we believe that the peak level of capital growth has now passed and rental yields continue to fall. 
Although total returns are still strong they are likely to diminish from here and where will that leave these investors especially if they were simply chasing the short-term value appreciation which has been particularly prevalent in Sydney and Melbourne over the past year. 
The good news is that the higher risk, high LVR loans are reducing however, there are still a lot of instances in which mortgagees are only paying back the interest component of the mortgage.
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ckusher-ujnxiKuFQs

Owner-occupier housing finance commitments topping out

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Median prices rose overall over the March quarter, according to the Real Estate Institute of Australia (REIA) and the Bendigo Bank’s quarterly review.
The weighted average capital city median price rose by 1.9% for houses and 1.7% for other dwellings, including units and apartments. According to the REIA and Bendigo Bank’s figures, the weighted average median price for houses in Australia’s capital cities is now $606,517.
The price growth was much less acute than that seen in the first quarter of last year, where the weighted average median price for houses increased by 13.1%.
For the year to March 2014, Median house prices rose across all capital cities but Brisbane and Perth. Hobart saw the biggest price rise, with its median house price up 4.1%. It maintained the lowest median house price across the capitals at $385,000. Brisbane’s median  house price dropped 1.1% over the quarter; Perth’s dropped by 1.6%.
Sydney’s median house price remains the highest among all eight capitals at $782,973, up 3.1% for the quarter. Melbourne’s median house price rose by 3.7% over the same period to $652,500.
Non-house dwellings like apartments and units in the capital cities sat at a median price of $483,320.  Darwin saw an 18.0% increase in the median price of its non-house residences for the quarter to $525,000. Sydney and Melbourne’s median non-house residence prices also increased in the same period. Median prices for similar properties were down for the quarter in Canberra, Adelaide, Hobart and Perth.
Median rents for two bedroom units and other non-house residences increased in Sydney, Melbourne and Brisbane over the quarter to March, while they decreased in Perth and Darwin. Rental rates for Adelaide, Hobart and Canberra remained static. However, the median rent for a “two bedroom other dwelling” in Canberra was down by 6.8% from the same time last year. 
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jrichardson-uRX5hFdKfN

Residential prices up overall in March quarter: REIA

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In general terms, in order to claim input tax credits (ITCs) under the GST system, an enterprise must be carried on. This can be a tricky issue when property developments are concerned, as two taxpayers recently found out to their detriment before the Administrative Appeals Tribunal (AAT).
A business needs to be carried on before claims for ITCs can be made and this is where the taxpayers ran into trouble before the AAT.
In that case, the two taxpayers failed before the AAT in a matter concerning a number of ITC claims in respect of purported acquisitions made in relation to two property developments.
The first taxpayer (a company that was the trustee of a trust) and the second taxpayer (a partnership of two individuals) claimed to have made acquisitions in relation to a 4900 acre property development near Goulburn in NSW. The first taxpayer also claimed to have made acquisitions in relation to another property development in Grenfell NSW.
Both taxpayers were registered for GST. However, the Tax Commissioner issued to both taxpayers amended assessments denying ITCs claimed on those purported acquisitions – in the first taxpayer's case, for the tax periods April 2010 to June 2011, and in the second taxpayer's case, for the tax periods April 2009 to December 2010.
The Commissioner's position was that neither taxpayer carried on an enterprise at all, so that neither of them could be entitled to any ITCs. The Commissioner also imposed a 50% administrative penalty.
The tribunal dealt mainly with the arrangements of the first property development as it was of the view the arrangements did not differ materially from the second development. The tribunal noted there had been some work done on the property; however, the parties disputed what that work consisted of, how much of it was done, who it was done for, and whether it had been paid for.
The taxpayers said they were "principal contractors to the project". The project was presumed by the tribunal to be the development of the property for eventual subdivision. However, the tribunal noted that exactly what the "principal contractors" did in respect of the property remained the subject of "quite profound mystery". It also said the same observation applied in respect of what the "principal contractors" were supposed to have acquired from various entities, described by the taxpayers as the "subcontractors", who were said to have undertaken some of development activities.
The tribunal understood the case put by the taxpayers as follows: the owner of the property engaged the principal contractors to get certain work done on the property; the principal contractors in turn engaged subcontractors to do the physical work; the subcontractors did the work and charged the work to the principal contractors; and the principal contractors bundled up the charges with a 20% mark-up and on-charged the owner of the property.
The total amount invoiced to the first taxpayer by the subcontractors (in relation to both property developments) was over $250,000. The total amount invoiced to the second taxpayer was over $820,000. However, the tribunal said the invoices themselves were "short on detail". The tribunal also noted that the Commissioner had notified the taxpayers his doubts concerning the work undertaken on the property after he was informed by the relevant council authority that approval to subdivide the property had been refused.
The tribunal said each taxpayer's claim for ITCs failed "at the most basic level". It said that an entity is not a "project manager" simply because someone says it is, and it was important that, to carry on an enterprise (thus enabling the ITC claim to potentially succeed), "an entity must do something".
The tribunal was unable to identify the "activity" that the taxpayers were undertaking in respect of the properties. It was also not satisfied that either of the taxpayers, in relation to the relevant property developments, carried on any activities "in the form of a business". A key issue identified was the difficulty the taxpayers had in articulating the arrangement between themselves, landowners and subcontractors. The AAT said it could not see that either taxpayer did much at all, beyond receiving invoices from the subcontractors and it rejected any notion that receiving invoices is relevantly an “activity”.
The tribunal member (Deputy President Frost) said the taxpayers "could not take me to any document that set out an agreement, between either of the landowners and either of the applicants, that the applicants would perform services or tasks, engage or co-ordinate third parties, or even make arrangements of any kind in relation to the development of the properties".
That, to say the least, was not helpful to the taxpayers' cause.
The tribunal was of the view the "true arrangement" was work was done for, and the supplies were made to, the owners of the properties, and that at most, the taxpayers agreed to pay for some of the supplies. The tribunal found, on the balance of probabilities, that there were "supplies" by the subcontractors; however, it was of the view that any supplies were not made by the subcontractors to the taxpayers. It said it could not see any indicators of a business being carried on. Accordingly, it held the claims for ITCs were not sustainable.
Although not required to, the tribunal also rejected the taxpayers' argument that "promissory notes" issued by them to the subcontractors for work done constituted consideration at the time of the supplies. The tribunal also affirmed the penalty at 50% of the shortfall amount.
The tribunal said the arrangement involved multiple entities, many of them not at arm's length, and that given the type of arrangement involved and its size, independent advice should have been obtained.
This case is a clear demonstration of the need to properly and fully document the operations of a business. The need to obtain clear and independent advice on any business proposition, be it property development or something else, is also a "take-away" message from this case.
Terry Hayes is the editor-in-chief of tax news reporting at <a href="https://www.thomsonreuters.com.au/" target="_blank">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
Photo courtesy of Chris Tolworthy/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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The tricky business of property development and GST credits

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The International Monetary Fund’s Global Housing Watch has found that Australia ranks highly on a number of their calculations.
There were 19 countries recorded with drops in prices, with the biggest decrease seen in India with a -9.1% drop year on year.
Here are the countries that recorded an increase in value, and how they ranked. {plotalot id="17"} Source: OECD and IMF calculations
In the IMF’s other calculations, Australia sits within the top five (with Belgium, Norway, New Zealand and Canada just ahead) in terms of house prices being above rents, as well as scoring in the top three (with Canada and Belgium taking out top spots) as continuing to be “out of reach of household incomes”).
Deputy managing director for the IMF, Min Zhu, noted that house prices are inching up in <a href="https://blog-imfdirect.imf.org/" target="_blank">the IMF blog</a>.
"But is this a cause for much cheer?  Or are we watching the same movie again? Recall how after a decade-long boom, house prices started to fall in 2006, first in the United States and then elsewhere, contributing to the 2008-9 global financial crisis. In fact, our research indicates that boom-bust patterns in house prices preceded more than two-thirds of the recent 50 systemic banking crises," Zhu wrote.
He explained that theory asserts house prices, rents and incomes should move "in tandem over the long run", and that if these factors do not the people switch between buying and renting to eventually bring them into alignment.
"Similarly, in the long run, the price of houses cannot stray too far from people’s ability to afford them––that is, from their income. The ratios of house prices to rents and incomes are thus often used as an initial check on whether house prices are out of line with economic fundamentals," he said.
For Australia, he goes on to say that the ratios remain above the historical average.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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IMF's Min Zhu: Are we "watching the same movie again" with house price rises preceding a crisis?

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Scott Penn, the part owner and chairman of the Manly Sea Eagles, and wife, Nicola secured $4.28 million for their Manly beachfront apartment.
The sub-penthouse in the Waillea building was bought in 2010 for $4.38 million as a weekender but because they are so busy they haven’t used it very much and have decided to sell it.
The third floor apartment in in the Susan Rothwell-designed block on North Steyne.
It had been <a href="https://www.belleproperty.com/buying/NSW/Northern-Beaches/Manly/Apartment/12P4327-12-133-137-north-steyne--manly-nsw-2095" target="_blank">listed through Belle Property </a><a href="https://www.belleproperty.com/buying/NSW/Northern-Beaches/Manly/Apartment/12P4327-12-133-137-north-steyne--manly-nsw-2095" target="_blank">agent Anthony Calacoci</a>.
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Tide retreats a bit, but Waillea, Manly sub-penthouse sold

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Estimating the number of properties that need to be built in any city to cater for a forecasted population change can be a tricky job.
Particularly when forecasts are prone to change.
Urban Taskforce CEO Chris Johnson notes that the projections over 20 years have changed – from 1.3 million people from the 2013 Metropolitan Strategy for Sydney to 1.575 million in the 2014 projections.
“If the robust population growth continues over 50 years we will need to double the number of houses or apartments in Sydney from the current 1,673,800. Clearly this is a big task and this will require a pro-growth attitude from community groups and councils and strong leadership from the state government. The stalled planning reforms will need to be reactivated to help drive housing supply.” This works out to around 90 dwellings a day.
Property Observer has made the supply situation, from the Urban Taskforce statistics, a little more digestible below (click to open in new window):
<a href="/images/2014/06/12/infographic%20june%2012%20one.png" target="_blank"><img src="/images/2014/06/12/infographic%20june%2012%20one.png" alt=""></a>
Sydney’s future will be one of density, Johnson more recently noted.
“Sydney will become more dense through the trend towards apartment living in urban areas and this will need an efficient rapid transit rail service with an under harbour crossing. By aligning the areas of future growth with new infrastructure Sydney can move from being a provincial city to a real global city rivalling the economic centres of London, New York and Shanghai. We must aspire to a bold future for Sydney but this needs good infrastructure,” he said.
Urban Taskforce predicts that the majority of these new dwellings will be in urban centres and along transport nodes.
Stand out LGA Population Predictions for 2031 (figure stated is total people in LGA for 2031)
<ol>
<li>Penrith: 261,450 Due to: Overseas migration (some internal migration loss noted) 
</li>
<li>Blacktown: 473,300 Due to: Overseas migration and fertility rate 
</li>
<li>Auburn: 130,600 Due to: Overseas migration and fertility rate (some internal migration loss noted) 
</li>
<li>Parramatta: 253,900 Due to: Overseas migration (some internal migration loss noted) 
</li>
<li>The Hills: 280,900 Due to: Overseas migration 
</li>
<li>Liverpool: 288,950 Due to: Overseas migration and fertility rate 
</li>
<li>Camden: 162,350 Due to: Internal migration gain and fertility rate</li>
</ol>
Source: NSW government 'Your Future NSW'
Click here to see the <a href="https://www.planning.nsw.gov.au/en-au/deliveringhomes/populationandhouseholdprojections/yourarea.aspx" target="_blank">projections for your LGA</a>.
Photo courtesy of Duncan Hill/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Sydney's population density increasing, here are the top growth areas: Urban Taskforce

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Land developers in Sydney have been producing large numbers of new lots and charging more for land, but data from a specialist residential property researcher shows sales are now declining and could fall rapidly if pricing is not reduced.
Sales activity volumes in Sydney fell by 7% in the March quarter compared with the December quarter, Research4’s National Land Survey Program found. It was the first fall in activity levels since December 2012.
“We think the Sydney [land] market is going to moderate ... Where it goes from here will depend on how [developers] manage pricing,” Research4 director of strategic research Colin Keane told Property Observer.
“It’s either going to stabilise and fall away quietly, or drop quickly if they keep pushing prices up.”
On average across the Sydney market median lot pricing rose by 1.8% in the March quarter, Research4’s data shows.
In the city’s west and south west, median prices rose by 17% during the quarter.
Keane said the sizable jump in prices in those regions was mainly due to price rises at a development by Landcom and Greenfields Development Company at Oran Park, and at Stockland’s Willowdale.
Research4’s figures show median lot prices in Sydney’s North West rose by 7% in the March quarter, while median lot prices in the Lower Hunter fell by around 4%.
The median price for land across the Sydney region was $283,000 for a 516 square metre block, Keane said.
“We think the pricing is problematic in the Sydney market now,” he said. “I don’t think developers can push prices any further. The might have to take a hit and reduce their prices over the coming months.”
Land prices last fell in Sydney in September 2013, according to Research4’s data.
While prices have been rising, lot sizes have been falling so cost per square metre is at a record high, Keane said. In 2010, the median lot size was 600 square metres. In 2012 it was 550 square metres and now is it around 510 square metres.
Keane said land developers may not be aware that a problem was emerging, as the market was still good and customer cancellation rates were still very low.
“The market is still really good but I think now is a good time to start thinking about the next 12 months and the next 12 months is going to be tighter in terms of demand and [customers] are going to be looking at saving in pricing,” he said.
The Sydney land market has historically suffered from significant supply shortages, but Keane said since June 2013 the land market had been fully meeting underlying demand and exceeding demand in some locations.
“It used to be an issue five years ago but with the South West market coming online we have seen lots of land coming on the market,” he said.
Demand would also fall as net overseas migration into NSW and visa applications had moderated, while the number of loans issued to second home buyers was falling, Keane said.
Australian Bureau of Statistics housing finance figures for the month of March will be released on Tuesday May 13, but the February result showed the number of finance commitments for the purchase of new dwellings around Australia fell by 5% in seasonally adjusted terms compared with January.
On approvals for new dwellings, Housing Industry Association chief economist, Harley Dale said: “Building approvals for the month of March 2014 were consistent with healthy growth in new home building activity this year, although the approvals cycle itself may well have peaked.”
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Sydney land sales could rapidly decline if prices not reduced warns researcher

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Property entrepreneur Jono Deague and his wife, photographer Ella have snappily sold their contemporary South Yarra residence of seven years.
Set close to the CBD and a few minutes’ walk to Fawkner Park and Royal Botanic Gardens, the property came with $5 million plus hopes<a href="https://www.kayburton.com.au/property/99-millswyn-street-south-yarra" target="_blank"> through Kay &amp; Burton agents Michael Armstrong and Michael Gibson</a>.
The couple undertook a major renovation on the Millswyn Street property when they moved into the Botantic Gardens precinct.
The four bedroom home became a three bedroom, opening up more space throughout the residence which was built on the 415 square metre block which cost around $3 million in late 2006.
It comes with a spa, pool, cellar, gymnasium, and four car underground garage.
Jono (Jonathan) Deague is the executive director at Asia Pacific Group, which owns the Art Series Hotel Group, a collection of boutique hotels that includes the renowned Blackman Hotel on St Kilda Road, Cullen Hotel in Prahran, and Olsen Hotel in South Yarra. Ella is a photographer, working in interior design and architecture.
No price has been revealed though the agency <a href="https://www.propertyobserver.com.au/https://vimeo.com/96670539" target="_blank">declared it as a "bullish" sale</a> where the "good interest" matched up to "where the vendor was pretty accurately."
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Jono Deague snappily sells South Yarra home

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GUEST OBSERVATION
The performance of Sydney’s property market over the past 12-18 months is as concerning as it is spectacular.
Double-digit price growth isn’t consistent with Sydney’s property market fundamentals. While I’ll stop short of predicting that a downturn is on the horizon, the drivers of Sydney’s market are as fragile as a house of cards. With over 9.3 million properties to choose from in this country, one begs the question, “Why Sydney?”
First, The Fundamentals
Contrary to tabloid rhetoric, Australia is not having a property boom. Outside of Sydney, property markets are experiencing a predictable post-GFC recovery phase with normal rates of growth (0 to 6%) over the past 12 months.
The state of New South Wales is home to 7.4 million people (a third of Australia’s total population) and 4.3 million (18.7%) of these are in Sydney
Greater Sydney can be broken in to ‘Metropolitan’ and ‘Western Sydney’. With a population of 2.06 million people (8.9% of Australia), Western Sydney on its own is bigger than the combined populations of South Australia, Tasmania, ACT, and Northern Territory.
 <img src="/images/2014/06/10/pressley%20june%2010%20one.png" alt="">
With a median house price of $802,000 Sydney is the least affordable location in Australia (miles above the capital city average of $580,000).
For the same price that you can buy a Sydney apartment (median value $576,000) you can buy a house in every other location in Australia with the exception of Melbourne.
Sydney’s population growth rate has been below the national average over the past 10 years, and only ahead of economic minnows South Australia and Hobart. Rate of growth is completely different to size.
 <img src="/images/2014/06/10/pressley%20june%2010%20two.jpg" alt="">
New South Wales has a long history of people immigrating away from Sydney to alternative locations
 <img src="/images/2014/06/10/pressley%20june%2010%20three.png" alt="">
Sydney has been Australia's worst performing capital city market since the 2000 Olympic Games (it’s not a typo).
<img src="/images/2014/06/10/pressley%20june%2010%20four.jpg" alt="">
Through 2000 to 2010, the NSW unemployment rate was regularly above the national average. After finding its way back to parity it improved further to fall below the national average this January and currently sits 0.5% below. It is no coincidence that Sydney’s property market has improved with its employment record.
Metropolitan Sydney is Australia’s white-collar capital and unemployment rates are currently up to 50% better than the national average. It’s just a shame that few people can afford to buy a metropolitan home.
Large parts of Western Sydney, on the other hand, have significantly fewer job opportunities. Manufacturing accounts for 16% of jobs (not ideal with a high Australian dollar) while a fifth of all businesses are in the construction industry. Australia’s highest crime rates are in western Sydney
 <img src="/images/2014/06/10/pressley%20june%2010%20five.png" alt="">
To overcome a reported 182,000 job shortfall, tens of thousands of people have to commute from the more affordable western suburbs to work in metro Sydney each day.
Transport infrastructure has not kept pace with population growth. The rail network has not been significantly expanded since the 1930s, yet the region’s population is now five times greater. The heavy reliance on passenger cars results in horrendous traffic congestion, loss of productivity, and high fuel costs. Remember that earlier Interstate Immigration graph?
15 years of babble about Sydney having run out of land and therefore having an under-supplied property market is not totally correct. Metro Sydney’s land shortage has been compensated by higher density construction while sprawl has occurred to the west. Overall, dwelling construction was greater than required until the GFC handbrake was applied. The tightening of supply is another reason for the more recent pressure on Sydney property prices.
 <img src="/images/2014/06/10/pressley%20june%2010%20six.png" alt="">
Article continues on next page. Please click below. 
<hr class="system-pagebreak">
The Foreign Investor Phenomena
Structural changes resulting from the revolution known as the ‘Asian Century’ has directly resulted in unprecedented volumes of properties being purchased in Australia by Asian investors.
With Sydney and Melbourne having Australia’s biggest profiles internationally, they have been the centre of attention for the construction industry’s marketing teams.
In a majority of cases, Asian investors are buying brand new properties – only Australian residents are permitted to buy established properties.
According to the latest report from Australia’s Foreign Investment Review Board (FIRB), there were 12,647 applications approved in the 2012-13 financial year. A total of 12,025 of these approvals were for Australian real estate transactions (289 were for mining).
The number of FIRB approvals for Australian (residential) real estate has grown from 3,723 in 1999-10 to 11,668 in 2012-13. I’d be staggered if the numbers aren’t even bigger this year. The tsunami is coming! Victoria (38%) and NSW (30%) account for the lion share.
<img src="/images/2014/06/10/pressley%20june%2010%20seven.jpg" alt="">
The House Of Cards Concern
While I think that Sydney’s employment will follow current trends, its property market will ease (refer lack of affordability and a significant supply of new dwelling stock in the pipeline).
 <img src="/images/2014/06/10/pressley%20june%2010%20eight.png" alt="">
An unhealthily high ratio of investor-owned properties is already occurring with recent ABS data confirming that 53% of NSW home loan approvals (refer Sydney) were for investors. Melbourne is concerning high at 45%, 30% is about normal. Yields will reduce!
In light of the fundamentals outlined, the only thing that can sustain Sydney’s market strength is continued high rates of Asian investment. This is where there are two jokers in the pack which I feel make Sydney’s house-of-cards very fragile.
With the boom being isolated to Sydney and pressure still on the Australian dollar, the Reserve Bank is unlikely to pull the trigger on a few interest rate rises as they would normally do. But, what if the FIRB passed legislation to restrict Asian investment in Australian real estate? Joker number one!
The other possibility lies in China. There are recent reports of China’s residential market declining by 15% over the last 12 months. Chinese banking executives and economists say that a severe housing downturn could cause a considerable increase in non-performing loans at the country’s banks. We know that when times get tough investment properties are often one of the first assets disposed of in order to bring the household budget back in to order. Further instability in China’s market could result in high levels of resale stock in Sydney. Joker number two!
In so far as a medium term outlook, my money is on Sydney performing similar to the last 15 years – below the Australian average.
Simon Pressley is managing director of <a href="https://www.propertyology.com.au/" target="_blank">Propertyology</a>, a full-time property market analyst, accredited property investment adviser, and REIA / REIQ Buyer’s Agent of the Year (2012, 2013, 2014).
Photo courtesy of Peter Roberts/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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