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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Brisbane, like other metropolitan cities in this first half of 2014, has had somewhat of a buying frenzy amongst both home buyers and investors.
Having recently procured a property there, I uncovered something rather alarming during my due diligence process.
It turns out that some councils within the metropolitan area of Brisbane have introduced different pricing for their council rates based on the type of buyer you are. If this sounds unfair, it is probably because it is. In fact, the story has recently <a href="/news/qld/margaret-lomas-heads-fight-against-higher-council-charges-for-investors">gained momentum in Property Observer</a>, with industry expert Margaret Lomas adding her views to the matter.
The thinking behind this policy is that home owners are ‘doing it tough and need a helping hand’. There is an assumption by some Queensland councils – such as Mackay, Brisbane City, and Logan City – that investors can afford to pay higher council rates simply because they are investors.
I purchased a property on 5 May in <a href="/news">Zillmere</a> (Brisbane’s northern suburbs) and was advised that my dwelling and ownership/usage structure (as an investor, so non owner-occupier) placed me on a ‘Category #14’ pricing of 42.8 cents per unit. Had I been an owner-occupier, my rate for the same property would fall under ‘Category #1’ (incurring a rate of 30 cents per unit).
This is clearly discrimination based on the ‘assumed’ status that investors are more cash-flow rich than owner-occupiers. The rate structures are not means-tested so there is no factual base for this pricing, rather just an assumption.
<blockquote>
This discriminatory approach in some councils throughout Queensland is merely a price-gauging and revenue-raising strategy at the expense of those trying to secure their financial future. 
</blockquote>
It’s unfair because council rates are paid to ensure that services to the suburb area such as rubbish collection, council clean-ups, bushland and fire levies, library and park maintenance; are provided for all dwelling occupants living in the area. Regardless of the occupant residing there, all occupants are entitled to the same services provision.
The biggest mistake these councils have made in their assumption of investor wealth, is that investors are cashed up and aren’t also ‘doing it tough’.
If councils want to penalise those who scrape together their savings to try and provide a better future for themselves and their families via investment, is this not discrimination? 
Regardless of how small or seemingly inconsequential the rate difference is between the two ownership types, it is the principle of the matter that needs to be challenged. This is because this council initiative may set future a precedent that other property related service industries may enlist.
I’ve observed in my investment career instances where one council will form a new policy and other neighbouring councils will adopt a similar policy in the years ahead.
Imagine if you were an investor and needed to send a plumber out, yet the plumber advised you that their service rate to you would be higher because you are an investor. Or if strata management companies gave owner-occupiers a discount at the expense of a rate hike for those lot owners who happen to be investors.
What makes this more embarrassing for some of the councils involved, particularly Brisbane City Council (BCC), is that the owner-occupier rate is not discounted, meaning that the rate hike for investors is clearly a revenue raising strategy.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Are councils neglecting the value that investors bring to their suburbs?
Investors actually bring revenue to an area when they buy and in some instances greater revenue than owner-occupiers. 
Why?
Think of the housing they provide for residents who aren’t yet able to afford their own ‘owned home’. Think of the job creation for the local community in terms of ongoing real estate agents managing and representing the property, bringing wage growth into that local business and council area.
Even when looking at the logical rationale behind this move; there simply isn’t one. Why? Because rates are currently structured to be paid per-household regardless of occupant volume residing in that household. If discrimination is to occur based on ownership status, why are these councils not also discriminating based on occupant volume?
Is occupant-volume a fairer way to price-structure council rates?
Think about what these rates cover. These are things that if rate pricing structure is to be introduced logically should be based on occupant volume of the property, not the type of occupant that resides there. 
For instance, a single person occupying a four bedroom house is likely to produce much less rubbish and stormwater drainage wastage each week, than say a family of five, occupying that same house.
The single occupant may only even put their bins out once every two to three weeks, yet the family of five may be putting an overflowing bin out, every single week. Surely this would be a better standard of measure to determine the rates that occupants pay.
This kind of ‘user-pays’ services approach is employed in several places around the world such as Singapore and ensures that services usage is minimised and costs kept down as much as possible, for all.
Is this pure discrimination and revenue-raising?
This discriminatory approach in some councils throughout Brisbane and greater Queensland is merely a price-gauging and revenue-raising strategy at the expense of those who are just trying to establish and secure their financial future. 
Oh and the other thing is this, specifically the Logan City Council (LCC) as well as Brisbane City Council (BCC) have formed these policies in recent times. Is it just coincidence that these two council areas (and their encompassing suburbs) have had the highest investor penetration in the last two years out of all of Brisbane metropolitan area and would stand to benefit most from an increased rate revenue from the investor community?
The trend could be on the rise with other city and municipal council areas in Brisbane and Queensland. So if you are either an owner of an investment property or you are thinking of buying one in this state, ensure you call the council of the area your property falls under during your due diligence phase.
How can investors stand up against this?
My recommendation as a due diligence point for any investor, in any Australian suburb, is to call the local council and find out what their rate policies and pricing structures are. If you feel you are being charged a higher rate unfairly, you should challenge them on this in writing. 
It is likely that the matter is not financially viable to pursue from a legal perspective; however, the more noise created about this strategy the more the spotlight is placed on councils to consider changing their pricing policies.
I personally will be challenging my higher-rate status with Brisbane City Council in light of this, purely out of principal.
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cmcevoy-Go82SmsJA9

Variable council rates for investors is blatant revenue raising and discrimination

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There has been <a href="/expert-insights/buying/the-property-boom-is-over-a-good-headline-but-no-evidence-to-back-it-up">a lot of media chat</a> about house prices "falling" in May, which is basically a result of the famed Daily House Price Index recording a decline in that month (as it has done every May, due to seasonality).
Meanwhile, back in the real world, the housing markets continue to look strong, with the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5609.0" target="_blank">ABS Housing Finance data</a> recording further increases in April.
<a href="https://4.bp.blogspot.com/-AXUV3ocvw0c/U5Z10in1aeI/AAAAAAAANxM/iG9g2ZabZ5g/s1600/ABS+housing+finance.jpg" style="line-height: 1.3em;"><img src="https://4.bp.blogspot.com/-AXUV3ocvw0c/U5Z10in1aeI/AAAAAAAANxM/iG9g2ZabZ5g/s1600/ABS+housing+finance.jpg"></a>
This comes as no surprise, because, as I posted <a href="https://petewargent.blogspot.com.au/2014/06/record-high-mortgage-demand-in-may" target="_blank">here</a>, other mortgage market data has suggested the same thing, with Australian Finance Group (AF) recording the its highest mortgage demand ever in May.
In particular, AFG's data suggested to me that the markets are being driven by property investors more than ever before, a direct effect of the lowest interest rates we have seen in a generation.
At long, long last it also seems that the penny is beginning to drop that first home buyers are not (and never were, in fact) "on strike" - they're still around but often in a different guise than in previous cycles.
Some are buying but a little later in life than before, others are buying yet aren't being recorded as first-timers, others still are buying as investors and as such slip through the net in that manner.
Shifting trends, yes... but not a "strike".
Construction?
Remember that through this property cycle in Australia what we really want to see is heavy investment in new dwellings in order to generate dwelling construction and economic activity to offset the coterminous decline in mining investment.
On the face of it, construction finance for owner occupiers still looks strong for owner-occupiers on a moving annual basis.
However, what this chart doesn't quite show so clearly is that the data for the last few months is beginning to look decidedly sketchy.
Hopefully I'm wrong, but the peak may soon be in for this segment of the market:
<div class="separator"><a href="https://3.bp.blogspot.com/-lkJg4iJcsB8/U5Z2kCkPncI/AAAAAAAANxU/NRRSmk98TjE/s1600/CFOO.jpg"><img src="https://3.bp.blogspot.com/-lkJg4iJcsB8/U5Z2kCkPncI/AAAAAAAANxU/NRRSmk98TjE/s1600/CFOO.jpg"></a></div>
On the other hand construction finance for investors is very strong and looks to be heading for a record heights on a moving annual basis:
<div class="separator"><a href="https://2.bp.blogspot.com/-AdMP-Wzd3wM/U5Z2kD0p9UI/AAAAAAAANxc/8dSzdgyCZ_I/s1600/CFI.jpg"><img src="https://2.bp.blogspot.com/-AdMP-Wzd3wM/U5Z2kD0p9UI/AAAAAAAANxc/8dSzdgyCZ_I/s1600/CFI.jpg"></a></div>
In aggregate, finance for new dwellings remains strong which bodes well for the construction index, particularly for apartments.
Investor loans shatter all-time records
As for total property investment loans in April, the monthly figure printed at an astonishing $10,978,872,000.
That is comfortably the highest aggregate of monthly property investment loans ever recorded in Australia, roundly plonking a very large question mark against the suggestion that property prices have been receding.
<div class="separator"><a href="https://2.bp.blogspot.com/-ibINLNmRdS4/U5Z2kGnDYfI/AAAAAAAANxY/u95-PjW85ts/s1600/Invloans.jpg"><img src="https://2.bp.blogspot.com/-ibINLNmRdS4/U5Z2kGnDYfI/AAAAAAAANxY/u95-PjW85ts/s1600/Invloans.jpg"></a></div>
That's certainly the on the ground experience in Sydney: the idea that one might pick up under market value bargains based upon the supposedly falling prices is absurd. For decent properties, you'd be outbid very time.
The <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5671.0" target="_blank">Lending Finance data</a> for April to be released on Friday will provide more detail by state, and I have little doubt that rolling 12 monthly property investment loans in New South Wales will be at or close to record highs.
There are simply far too many investors in the market for it to be otherwise.
Article continues on next page. Please click below. 
<hr class="system-pagebreak">
Strike or shift?
There's been a long-running debate about the so-called "first home buyer strike" in Australia.
It never really made any sense, since first home buyer numbers have remained very solid in states which have grants for first-times such as Western Australia, where <a href="https://www.afgonline.com.au/wp-content/uploads/2014/06/WA-June-14.pdf" target="_blank">20-25% of loans written</a> continue to be for first-timers.
Yet mysteriously FHBs had apparently disappeared in states such as New South Wales, crowded out by greedy Baby Boomer investors.
I summed up the basic issue incomplete records issue at the beginning of the year <a href="/expert-insights/buying">here</a>.
Further, as noted <a href="https://petewargent.blogspot.com.au/2014/04/investment-mortgages-crunch-all-time" target="_blank">here</a> as mortgage data broke new record heights, it's important to listen to what the data is actually telling you, which has not been commensurate with an entire sector of the market casually sitting on the sidelines.
There has been a shift, certainly.
First home buyers are getting older, often buying in couples rather than alone.
Many are choosing to buy an investment property as their first step, especially in Sydney.
But they are not "on strike", as has been claimed.
RBA reporting
The Reserve Bank released its chart pack to the end of May last week <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">here</a>, and it seems that the central bank has at long last reached the same conclusion, completely stripping the first home buyer data out of its chart pack.
<div><img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6br-hla-small.gif?accessed=2014-06-10-08-22-50" alt="Housing Loan Approvals graph" width="400" height="320"></div>
Previously, the split had been shown between owner-occupiers, investors and first-timers, but since the FHB data was both incomplete and non-sensical, a decision has clearly finally been reached to have it pulled.
Other RBA charts show building approvals to be approaching something of a crossroads, although remaining close to record highs:
<div><img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/5bl-privbapp-small.gif?accessed=2014-06-10-08-41-45" alt="Private Residential Building Approvals graph" width="400" height="316"></div>
And dwelling prices remain in an uptrend.
<div><img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6bl-dwelpri-small.gif?accessed=2014-06-10-08-41-45" alt="Housing Prices graph" width="400" height="330"></div>
The rest of the chart pack, which you can see <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">here</a> makes for interesting reading as always.
In particular, note the near-exponential rate of growth in bulk commodity export volumes which are now overwhelmingly driving Australia's economic growth.
<div><img src="https://www.rba.gov.au/chart-pack/images/16-17-balance-payments/16tr-bcomx-small.gif?accessed=2014-06-10-08-43-32" alt="Bulk Commodity Exports graph" width="400" height="332"></div>
With a third of Australia's annual exports by value destined for China, it's a highly leveraged play.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

Investor loans shatter all-time record highs, RBA changes stance on first home buyers

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A preliminary weighted average clearance rate of 59.9% was recorded this week across capital cities compared to 66.4% last week and 61.4% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city.jpg" target="_blank"><img class="aligncenter size-large wp-image-3346" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Capital-city-580x436.jpg" alt="RP Data National Auction Comment - Capital City" width="580" height="436"></a>
This is well below the year’s high of 76.2% recorded in late February, however comparatively low volumes this week reduce its value as an indicator to the state of the market.
In the Sydney market a preliminary clearance rate of 65.7% was recorded compared to 73% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney.jpg" target="_blank"><img class="aligncenter size-large wp-image-3347" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Sydney-580x391.jpg" alt="RP Data auction comment - Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 61% recorded compared to 65.4% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne.jpg" target="_blank"><img class="aligncenter size-large wp-image-3348" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Melbourne-580x386.jpg" alt="RP Data auction comment - Melbourne" width="580" height="386"></a>
In Brisbane a preliminary clearance rate of 42.9% was recorded compared to 42.5% last week. Adelaide recorded a clearance rate of 63% compared to 55.3% last week. In Canberra a clearance rate of 50% was recorded and in Perth there was a clearance rate of 33.3%. In Tasmania four homes sold from 17 auctions.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane.jpg" target="_blank"><img class="aligncenter size-large wp-image-3349" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Brisbane-580x386.jpg" alt="RP Data auction comment - Brisbane" width="580" height="386"></a>
<a href="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide.jpg" target="_blank"><img class="aligncenter size-large wp-image-3350" src="https://blog.rpdata.com/wp-content/uploads/2014/06/20140610-Adelaide-580x393.jpg" alt="RP Data auction comment - Adelaide" width="580" height="393"></a>
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rlarocca-zWhvjay44N

Low auction volumes across capital cities: RP Data's national auction wrap

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Australia's skyline is changing, with residential and mixed-use (including residential) highrises being built at a significant rate. While in some cities this is more prominent than others, some records are being broken and others are being tiptoed around.
Here are the current tallest towers that include some aspect of residential, and those set to take their titles, across Australia.
ACT
In Belconnen, Geocon’s 88 metre tall <a href="https://geocon.com.au/property/847-belconnen/%20" target="_blank">Wayfarer Apartments</a> (pictured below), a new 27-storey offering, hit the market earlier this year.
<img src="/images/2014/06/10/wayfarer%20jun%2010%20one.jpg" alt="">
Bringing 235 apartments to the market, it was revised down in height in 2013 after community concern. The new development will be located at 120 Eastern Valley Way.
It has over 150 apartments sold, with two-bedrooms and study/media room properties from $564,900, and three-bedroom apartments from $569,900.
Completion is due in late-2016.
It will take the title from nearby Sentinel Apartments, a 62 metre 2013-built offering of 20 storeys. Also in Belconnen, it is a creation of developer Morris Property Group and finished late last year.
NEW SOUTH WALES
Today, a $25 million state of the art creative hub – which is said to feature dance, theatre, music, film and visual arts facilities – has been launched on Bathurst Street. According to official information, the building is “set to be” the tallest residential tower on the street, called Greenland Centre. As reported yesterday, an offshore buyer is looking to <a href="/news/offshore-25-million-greenland-centre-sydney-penthouse-sale-prospect">snap up and combine three of the upper-level penthouses for $25 million</a>.
<img src="/images/2014/06/10/greenland_0003_Greenland%20creative%20hub%20windows.jpg.jpg" alt="">
The soon-to-be-built 115 Bathurst Street is set to be the tallest tower on the skyline, with Kannfinch explaining that it is a 4,000 square metre site with a retail and commercial podium. It will offer 70 residential levels, or 420 apartments, and will integrate with 339 Pitt Street.
Kannfinch, on behalf of Brookfield, organised the stage one development approval.
Pedestrian laneways have been introduced at ground level.
<img src="/images/2014/06/10/greenland_0002_Greenland%20creative%20hub%20exterior.jpg.jpg" alt="">
The building will sit at 240 metres in height, and will be “Australia’s most slender tower”.
It just about takes the title from <a href="/expert-insights/building/brookfield-secure-approval-for-slimline-sydney-tower-development-to-be-city-s-tallest-residential-high-rise">Meriton’s 230 metre tall 2004-built World Towe</a>r.
Western Sydney will also soon see themselves with a new tallest structure – <a href="/news/the-tallest-residential-tower-in-western-sydney-one-australia-avenue">One Australia Avenue</a> (pictured below)– at 30 storeys high or 106 metres tall. It will include 300 apartments and expects mid-2015 completion.
<img src="/images/stories/2013/01/oneaust2.jpg" alt="oneaust2">
<img src="/images/stories/2013/01/oneaust.jpg" alt="oneaust">
And Parramatta is also eyeing up the trend, with developers vying for the title for some time. In April, Property Observer noted that a new development application for the <a href="/expert-insights/buying/development-application-submitted-for-one-of-parramattas-tallest-towers">$250 million Riverside Tower at 53 levels</a> (pictured below) may surpass V by Crown, which currently holds the tallest title.
<img src="/images/2014/04/10/parramatta-april-10-one.jpg" alt="Development application submitted for one of Parramatta's tallest towers">
Article continues on next page. Please click below. 
<hr class="system-pagebreak">
QUEENSLAND
In Brisbane, a 90-storey CBD tower (pictured below) has been approved by the council with <a href="/expert-insights/investing/brisbane-tower-set-to-be-third-tallest-in-australia-and-loom-over-harry-triguboff-s-soleil">expectations for completion next year</a>.
<img src="/images/stories/flexicontent/l_111.jpg" alt="Brisbane tower set to be third tallest in Australia and loom over Harry Triguboff’s Soleil">
Billbergia is behind the 274 metre tower, and it will be 31 metres above Meriton’s Soleil tower.
With two towers, the larger will be a mix of commercial and residential, including a 380-room five-star hotel, and 800 apartments.
<img src="/images/stories/111inside.jpg">
However, the top title is still with 322.5 metre tall Q1 on the Gold Coast (pictured below). It remains notable for a $9 million apartment sale, which was resold at a later date for $7.7 million.
<img src="/images/stories/flexicontent/l_q12.jpg" alt="The taller they are, the harder they fall: Q1 prices falling steeply from boom-time Surfers Paradise highs">
VICTORIA
The 297 metre Eureka tower in Southbank (pictured below), built in 2006, remains unsurpassed. The 91 storey building pushed 120 Collins Street off the list at the time of creation.
<img src="/images/2014/06/10/eureka%20june%2010.jpg" alt="">
At present, there remain no contenders looking to take the crown.
WESTERN AUSTRALIA
The upcoming <a href="/news/wa/finbar-announces-tallest-tower-in-western-australia-as-east-perth-abc-site-redevelopment">Concerto building, as part of Finbar’s Symphony City redevelopment</a> at 193 Adelaide Terrace in East Perth, will become the tallest building.
<img src="/images/stories/2014/03/05/east-perth-march-5-one.jpg" alt="east-perth-march-5-one">
It will include 226 apartments and 38 levels, and is expected for 2017 completion.
It now has development approval and is expected to launch mid-2014.
TASMANIA
While the tallest Tasmania building is Wrest Point Casino, it appears the tallest residential title is Empress Towers, also known as “Battery Square Apartments”. It’s 42 metres high and covers 12 floors, and was built in the 1960s.
<img src="/images/2014/06/10/battery-point-june-10-one.jpg" alt="">
Property Observer hasn’t yet heard of any taller developments planned.
SOUTH AUSTRALIA
In late-2012, plans were being created for the potential next tallest residential building in Adelaide from developer Datong.
Located on the corner of both Flinders Street and Pulteney Street, the plans were initially for a 39-storey 135 metre tall tower. Now the tower is slated to be 110 metres tall and is expected to be mixed-use, including residential apartments. The Development Assessment Commission has now approved the ‘Palumbo Building’ as it is to be called.
It was initially expected that this would become the tallest in Adelaide of any type, a title currently held by Westpac House, however it appears that it will just miss this title. At present, King William Tower at 70 metres is the tallest residential opportunity.
NORTHERN TERRITORY
The 2008-built Evolution on Gardiner (pictured below) is a 99 metre 33-floor creation from Sunbuild. It initially had 2006 stated as their completion expectation.
<img src="/images/2014/06/10/darwin-june-10-one.jpg" alt="">
At 8 Gardiner Street, prices ranged from $840,000 to $1.52 million.
While it appears some tall residential towers are under construction, none are looking to take the title from Evolution quite yet.
Other areas are slowly opening up for development, with height restrictions becoming higher in Alice Springs under 2010 changes.
What upcoming tallest-in-their-area residential creations have you heard about? Share your most and least favourites in the comments below.
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jduke-EHk3XBmHkn

The tallest residential towers changing Australia’s city skylines

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Sydney's cheapest long weekend sale was $348,000 at Auburn.
It sold pre-auction, as did many of the weekend offerings.
As soon as it was sold by First National Auburn Waters &amp; Carpenter, the investor buyer put <a href="https://www.firstnational.com.au/buy-residential-real-estate/apartment-unit-3-88-station-road-auburn-nsw-11421100562" target="_blank">the three bedroom 88 Station Road apartment</a> for lease pending its settlement.
Seeking $400 a week, the sale thereby reflects a 5.9% rental yield. It last sold at $230,000 in 2005.
Sydney agents secured 73.7% success rate from the initial 300 results. There are another 93 results yet to be tabulated by Australian Property Monitors.
<a href="/news/leichhardt-forges-another-residential-record-for-former-fire-station">Leichhardt has a new suburb record</a> with the current record-holder home selling on the long weekend for $3.05 million.
Set on 658 square metres, the four-bedroom, four-bathroom home <a href="https://www.realestate.com.au/property-house-nsw-leichhardt-116876611" target="_blank">sold through Ray White Inner West's David Eastway</a>. With that much land it is about three times bigger than the typical Leichhardt block.
It was sold by the banker Ashley Salter and his wife, Paspaley Pearls creative director, Christine Salter.
{qtube vid:=ZXtDXy8QCE}
The former Victorian fire station had been renovated by French antique furniture importers Bob and Helen Hargreaves, of Le Forge, who sold in 2007 for<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-leichhardt-nsw-2040/50202" target="_blank"> a record $2.45 million</a> through McGrath.
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jchancellor-FAypfDUnLy

Auburn three bedroom apartment sells to investor in weekend's cheapest auction offering

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It’s becoming a trend – well-located dumps selling for prices that would normally be achievable by trophy homes.
But, property owners shouldn’t go knocking walls in and stripping carpets from floors in an effort to get in on the action. It’s all about two things:
<ol>
<li>The buyer 
</li>
<li>The block</li>
</ol>
Property Observer notes that while the sales appear to be becoming more frequent, so-called “crazy Sydney prices” have been achieved by “dumps” for years.
For instance, in 2011 the termite-infested 58 View Street, Annandale sold for $800,000, $150,000 over reserve.
And 20 Union Street, McMahons Point, which was actually marketed by Blues Point Real Estate as “The Dump” (including on the signboard) snapped up $1,905,000 in June last year noting it was suited for builders, renovators and handymen. The 1880s terrace required a “total overhaul”.
Here are some of the most recent dumps achieving trophy home prices.
Stanmore - $923,000 sale
<img src="/images/2014/06/10/stanmore%20june%2010%20one.jpg" alt="">
This terrace home at <a href="https://www.realestate.com.au/property-house-nsw-stanmore-116950047" target="_blank">19 Durham Street, Stanmore</a> reportedly had more than 20 parties registered to bid.
The two-bedroom property saw bidding open at $600,000, according to the Inner West Courier, and sold to a builder – the majority of the interested notably came from developers and builders.
<img src="/images/2014/06/10/stanmore%20june%2010%20two.jpg" alt="">
<img src="/images/2014/06/10/stanmore%20june%2010%20three.jpg" alt="">
It hadn’t been on the market since its 1937 build and the two-bedroom, one-bathroom property was listed for auction as a deceased estate.
On 172 square metres, the agent described it as an art deco “very, very basic terrace” in “TOTAL disrepair” but on the best street. Photos show that there were holes in different surfaces as well as rubbish and dirt strewn around.
Leichhardt - $980,000 sale
<img src="/images/2014/05/26/leichhardt%20may%2026%20seven.jpg">
This property in Sydney’s inner west, in desperate need of renovation, was sold last month for just shy of $1 million, and had been empty for 20 years.
The <a href="/expert-insights/buying/rotting-leichhardt-shack-sells-for-just-shy-of-1-million">80 Edith Street house had an $800,000 opening bid, Jonathan Chancellor reported</a>, and was on 278 square metres.
<img src="/images/phocagallery/2014/05/leichhardt-may-26/liechardt_0003_leichhardt%20may%2026%20three.jpg.jpg">
It had development approval for a new home, and initial expectations were for $850,000 plus.
The rebuild is expected to net $1.6 million plus.
Redfern - $1.025 million
<img src="/images/stories/2014/02/03/red1/redfern_0000_1.jpg.jpg">
The February sale of a<a href="/news/redferns-median-house-price-hits-1-01-million-as-termites-dont-stop-debut-2014-auction-success"> “near knock-down” property at 48 Chelsea Street, Redfern came in $75,000 above reserve</a>.
The public trustee auction did require that the weatherboard timber façade would be kept under City of Sydney guidelines.
<img src="/images/stories/2014/02/03/red1/redfern_0002_3.jpg.jpg">
It was on 108 square metres and was marketed as “ripe for renovation”.
The buyer was from a family of builders.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
Mona Vale - $1.8 million
<img src="/images/2014/06/10/mona%20vale%20june%2010.jpg" alt="">
Sold at auction in February, it was up for sale for the first time in 50 years, and was a timber and sandstone cottage on a 565 square metre block.
Including ocean and beach views, the advertisement noted that 93 Narrabeen Park Parade needed “substantial rejuvenation or demolition” of the two-bedroom, one-bathroom home.
Tennyson Point - $3,788,000
<img src="/images/2014/06/10/tennyson%20point%20june%2010.jpg" alt="">
Sold in September last year <a href="https://www.realestate.com.au/property-house-nsw-tennyson+point-114600047" target="_blank">27 Beach Street </a>was snapped up by a family who spends most of the year in China and are intending to live in the home, Domain noted.
The fibro cottage is on a waterfront site, and includes 1,120 square metres of land with 20 metre frontage.
Property Observer notes that the few images available suggest it is in slightly better condition than some of the other “shacks” on the market, but the 1950s home was advertised as presenting the opportunity to “modernise, further develop or rebuild and create the dream lifestyle in an amazing location (STCA).”
With “one of the largest stretches of tidal sandy beach available on the bay” the level of interest is unsurprising.
Bondi Beach – approx. $15 million
<img src="/images/2014/06/10/bondi%20june%2010%20one.jpg" alt="">
And then there’s this <a href="/news/bondi-beach-knock-down-sydney-school-architecture-mansion-fetches-around-15-million">intense late-September sale of 23 Wilga Street</a>, as reported by Property Observer.
The three-storey brick home was on the market for the first time in 53 years, and after passing in at auction sold afterwards for around $15 million, although the price and buyers remained undisclosed.
Previously, triplex apartment developers were keen, offering around the $10 million mark, however suggestions are that it was an owner occupier who finally snapped up the property.
The site was advertised as ready to “contemporise or reinvent” and includes 700 square metres of land with substantial frontage, including ocean views that “can never be built out”.
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The Sydney dumps that sold for trophy home prices

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In the very early days of my career I can remember that the promise of being involved with a ‘mixed use’ development was always an exhilarating idea.
At the time mixed use was the development mantra of the day when a combination of commercial space, retail, hotels, public amenity and residential was being looked at on a new scale, with the aim of bigger and better.
Mixed use was seen not only as a way of adding a more complex layer of capital value and possibly increasing income from the project, but also as a way to better guarantee success in the long-term as the different uses acted in a harmonising way.
Mixed use developments were also seen as the ideal way to invigorate areas because they would hopefully attract a more diverse target market, in a way that say a freestanding office building could not. It’s also not that long ago when for example the Sydney CBD and to an even greater extent North Sydney CBD were seen as lacking soul and appeal because these areas where dominated by commercial office space. After hours and on weekends they were seen as dull and as retail and cinemas moved to big regional shopping centres the trend intensified. However over the past 20 plus years, in part due to the big increase in apartment projects, that view has turned around and both markets are now the dynamic centres we all know.
Mixed Users
We have come to understand that single-use markets usually have a limited life, while mixed markets offer wider appeal. However we no longer need to rely upon markets to hopefully evolve with a sort of planning wish list. We know that major mixed-use projects require a large capital investment, however today we have a variety of investment platforms and planning incentives that favour such development.This brings me to the emerging impacts that ‘mixed users’ will have for the residential market.
I suggest that when we think of mixed users we also need to include mixed generations of users as a key demographic of the market and how this might impact the appeal of a project.
Diversity has an important role, even an essential role to play in creating a vibrant community and this now applies more than ever to the demographics of a successful residential development. Many aspects of the demographic mix of our cities are now starting to change and successful developments are reflecting these changes.
For a variety of reasons we are now seeing the emergence of multi-generational households in the housing market. While in our social mix this is not a totally new phenomenon, the numbers are likely to start to grow in the future. There are already some early signs.
For example the number of three-person and six-person households increased in the 2011 census, while other groups were somewhat static. However the numbers of three bedroom dwellings feel while the number of one bedroom and two bedroom dwellings did increase, but most of this movement was concentrated across inner city locations. This points to larger numbers of singles looking for a strong social base, greater ‘connectivity’. This is in part associated with a multi-generational neighbourhood, the various age groups do not always have to be under the same roof to create a rich social fabric.
The Modern Family – It’s Here Already
The recent federal budget is forcing Australians to contemplate the idea of a shrinking middle class, with one result being that more young people are living at home longer. And when mum and dad do move, they might sell and be looking at a location where they can buy two apartments to replace the family home, but still retaining all family ties.
We also know that many retiring Baby Boomers want to age in place, or in the local area they are familiar with, the idea of retiring and leaving is no longer the preferred option and we know only too well that longer life expectancies are going to have a huge impact on housing demographics. The granny flat in the back garden is also another reality creating multi-generational households.
The multigenerational home or development project is clearly a housing type that is already in demand but may well become a much bigger market force.
This will I think result in projects offering well beyond the traditional mix of one, two and three bedroom apartments, if we have a vision for the 21st century then the impacts of multi-generational living will be far-reaching. So over the next few posts I am going to explore some of the options.
One example is the idea of mixed use projects, that have a mix of options not only extending to the choice of housing, but also how facilities are built, funded and shared, the blending of mixed use and users.
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pchittenden-eLqUUC8TWW

How mixed-use developments will continue to benefit a wide range of 'mixed users'

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We all love a hilarious headline and this week we were served up a cracker - “Australian house prices fall 1.9% in May”.
What part of this embarrassing statistic is relevant to real estate? For such data to be extrapolated thousands and thousands of suburbs’ data would need to be fed in, all of which means next to nothing given it significantly fails the relevance test. Households are simply concerned with just the one thing, namely the data pertaining to the suburb in which they own property. For those slightly interested, Sydney posted a 1.1% decline which based on approximately 670 suburbs which would then average out at a 0.00164% decline per suburb.
When it comes to house prices what consistently fails to be mentioned is that the suburbs within that crucial 15 kilometre radius of the CBD continue to outperform simply because they are not cursed by diabolical infrastructure inadequacies. With Australia moving closer and closer to a population of 24 million and a resources industry in significant decline, there will be more pressures placed on the major cities as families relocate to gain employment.
It is anyone’s guess how Sydney (which is facing an 8 million population) and Melbourne (9 million) are simply going to cope given Australia’s current population growth rate is 1.8% and growing. The reality of the argument is that there is simply not enough housing to meet the projected demand nor for that matter even a plan projecting how these major cities will cope. Given it is quite obvious now that the residents of Sydney and Melbourne prefer to live as close to their respective cities, than the onus falls majorly on the governments to develop infrastructure that can meet with this demand which just so happens to be growing at the fastest rate ever recorded before.
To get a better perspective one only has to look at this week’s gross domestic product (GDP) which for the March quarter of 2014 grew 1.1% seasonally adjusted, although it would be fair to say that the June GDP figures won’t be anything to write home about. What the GDP figures did reveal is that it does not look good for Western Australia and Queensland given both are fast-tracked into spiral declines with reduced construction and commodity price declines. Historically, what usually happen next are major unemployment headlines as businesses start scaling down operations.
It should be noted that NSW posted a 9.3% increase in private investment for the quarter together with the best home approval figures in over ten years.
<a href="https://www.rwm.com.au/files/2014/06/2-06-2014-9-56-48-AM.jpg"><img class="aligncenter size-full wp-image-11333" src="https://www.rwm.com.au/files/2014/06/2-06-2014-9-56-48-AM.jpg" alt="2-06-2014 9-56-48 AM" width="429" height="420"></a>
The onus is now definitely on the states and territories to start getting their respective infrastructure spends into overdrive, hence the massive asset sales. The only foreseeable problem with these asset sales is what they do when there is nothing left to sell? It’s no secret that no Australian state or territory is basking in a budget surplus, rather all are in significant deficit or on the borderline.
It should not have come as any great surprise that when the Australian Bureau of Statistics (ABS) released data this week it revealed that 46.4% of state and local government taxation revenue from the 2012/13 financial year came from property related taxes. The total amount collected, a record, came in at $35.931 billion leaving consumers rightly furious that infrastructure and transport have never been worse.
<a href="https://www.rwm.com.au/files/2014/06/2-06-2014-9-59-05-AM.jpg"><img class="aligncenter size-full wp-image-11335" src="https://www.rwm.com.au/files/2014/06/2-06-2014-9-59-05-AM.jpg" alt="2-06-2014 9-59-05 AM" width="633" height="286"></a>
With strong public debate about the GST being raised it should be noted that when the GST was introduced by the Howard government back in July 2000 – this was done so on the basis that the states and territories would reduce/remove these taxes. It should be noted that council rates did not come under the GST removal mandate.
So the question that keeps popping up is once the assets have been sold (and this is fast approaching) then how are the state and territory governments going to survive given all they can tax is properties and businesses (remember pay roll tax was supposed to go also)? You can’t increase the GST only to see these respective governments run amok again as they can no longer balance the books.
Therefore there is a very sound argument to look at a model in Australia where state and territory governments cease to exist and local councils are merged into super councils. It would certainly be good for employment. Work, maintenance and construction would be consistently rolled out across the nation.
Quite simply, it may never come to fruition even though the USA does not have middle-tier government and it works fine there. It would be fascinating to see what this model would look like and how it could possibly work – which should not be that hard. It would certainly remove the politician pension gravy train which is a total waste of tax payer monies. Many would argue successfully that in itself is enough reason to remove this tier of government once and for all.
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robertsimeon-hRNTwJyXkQ

Onus on governments to build infrastructure for major cities' projected population explosion

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The nature of Australian media makes its difficult to have a genuine debate on any subject and real estate is no different.
This is particularly so for print media, where desperate attempts to stave off the inevitable (death) leads to more and more extravagant treatment of story lines that contradict most of the available research evidence (e.g. <a href="/expert-insights/investing/the-problem-with-first-home-buyers-isnt-affordability-its-expectations">the mythical affordability crisis</a>).
We’ve now had three clear instances in the past eight months of publicity junkies declaring “the property boom is over”, each time based on one month’s median price figures (dodgy at the best of times) from one unreliable source, only to have the notion controverted a month or so later by another more buoyant set of monthly figures.
Newspapers have been only too happy to regurgitate the press releases declaring the market dead, then re-born, then definitely dead, then miraculously resuscitated, then really truly absolutely dead, this time we really mean it.
If we can believe the headlines, the market peaked in October, then surged again, then peaked in February, then surged again, and more recently peaked yet again in May.
In the past week, individuals and organisations have clambered to be the first to declare, one more time: “The property boom is over.”
The first question that arises is: Which boom are they speaking of? Although most of the “I was the first to say it’s over” commentators refer to a thing they call “the national property market”, I’m quite sure they’re thinking of Sydney and extrapolating that situation across the country.
This must be so, because Sydney is the only major centre in Australia with exceptional growth figures. Nowhere else is booming, although there are other places with forward momentum.
The second question is: What does that mean, the property boom is over? Does that mean markets have ground to a halt? Does that mean prices have stopped rising? That people have stopped buying?
If that’s what these “publicity addicts” mean, then they’re clearly wrong.
I think we’re in similar territory to mid-2013, when people declared “the mining boom is over” at a time when projects worth over $250 billion were under construction. Then, as now, the declaration had little to do intelligent debate – it was nothing more than a desire to generate a headline.
There’s all sorts of evidence that makes nonsense of the idea that real estate markets are grinding to a halt, in Sydney and elsewhere. There is, for example, the evidence that sales volumes in the March quarter were <a href="/expert-insights/buying/march-quarter-strongest-for-house-sales-in-five-years">the highest for any March quarter in the past five years</a>.
There are the various arguments that have contributed to the BIS Shrapnel conclusion <a href="/expert-insights/buying/sydney-slowdown-fears-premature-15-unit-growth-tipped-over-next-two-years-bis-shrapnel">that Sydney will continue to show growth for the next couple of years</a>. This concurs with my own analysis of sales activity, which shows there is still a lot of momentum in markets across Sydney (keeping in mind that sales volumes are a far better barometer than median prices, which mislead more than they inform).
I’ve just finished analysing, suburb-by-suburb, sales activity in Perth for an update of our Price Predictor Index and there remains considerable momentum in this market as well. The current market cycle is far from over in Perth. There’s no doubt sales volumes generally are not rising at the rate they were in early/mid 2013, but sales levels remain elevated across Perth.
The same exercise has confirmed a steady improvement in Tasmanian markets, with suburbs in both Hobart and Launceston on the improve.
For these markets and elsewhere, it’s way too early to declare the end of anything. 
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terryryder-YECXbqmri2

The property boom is over? A good headline, but no evidence to back it up

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The NSW government has extended the first home owner grant in its June 17 budget.
First-time buyers who purchase new properties - houses or apartments - worth up to $750,000 will now qualify for the $15,000 payment from July 1. 
The previous threshold had been $650,000 since the June 2012 budget. 
Sydney's runaway median dwelling price has moved from $541,000 as at June 2012 to sit currently at $678,500, according to RP Data, so the catchup decision barely keeps pace with actual price movements.
However Housing Industry Association chief economist Harley Dale said the median price for new homes in NSW was around $650,000 which means most first home buyers will be able to get the full benefit. 
The threshold decision also brings NSW into line with several other states and territories.
Treasurer Andrew Constance initially announced the extended eligibility criteria for the first home owner grant by $100,000 with Premier Mike Baird in a visit to Sydney's north west.
“This will make the dream for young families of owning their own home that bit easier,” Andrew Constance said.
The government claims 100,000 new homes have been built since the March 2011 election. But NSW first home buyers still remain at well below the long term average in their buying habits, in part due to the desire to shift their buying to new homes, and also given affordability issues.
Last year around 7600 home owners secured the $15,000 grant, compared with 36,000 in 2011, after the scheme was restricted to new homes. 
<a href="https://www.osr.nsw.gov.au/grants/fhog" target="_blank">The First Home Owner Grant (New Homes) scheme</a> was established in 2012 to assist eligible first home owners to purchase a new home or build their home by offering a $15,000 grant.
The take-up of the grant scheme has been greater in recent times - some 45 per cent higher in the four months to April compared with the same time in 2013.
The scheme applies to new homes only, houses or apartments, and is scheduled to be reduced to $10,000 on 1 January 2016.
In Victoria first home buyers qualify for the $10,000 First Home Bonus, but the value of the property must not exceed $750,000. Eligible recipients will also qualify for a reduction of up to 40% on stamp duty payable on first homes purchased below $600,000. 
Queensland's Great Start Grant valued at $15,000 is paid to first home buyers who are buying or building a new home valued up to $750,000.
The ACT offers first home buyers $12,500 when purchasing new, off the plan with the grant is capped at $750,000 purchases.
<a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">Last month Property Observer published a national guide for first home buyers.</a>
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