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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RBA governor Glenn Stevens' June statement:
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China's growth appears to have slowed a little in early 2014 but remains generally in line with policymakers' objectives. Commodity prices in historical terms remain high, but some of those important to Australia have continued to decline of late.
Financial conditions overall remain very accommodative. Long-term interest rates have fallen further and risk spreads remain low. Emerging market economies are once again receiving capital inflows. Volatility in many financial prices is currently unusually low. Markets appear to be attaching a very low probability to any rise in global interest rates over the period ahead.
In Australia, the economy grew at a below-trend pace in 2013 overall, but growth looks to have been somewhat firmer around the turn of the year. This has resulted partly from very strong increases in resource exports as new capacity has come on stream, but smaller increases in such exports are likely in coming quarters. Moderate growth has been occurring in consumer demand and a strong expansion in housing construction is now under way. At the same time, resources sector investment spending is set to decline significantly. Signs of improvement in investment intentions in some other sectors are emerging, but these plans remain tentative, as firms wait for more evidence of improved conditions before committing to significant expansion. Public spending is scheduled to be subdued.
There has been some improvement in indicators for the labour market in recent months, but it will probably be some time yet before unemployment declines consistently. Recent data confirm that growth in wages has declined noticeably. If these and other domestic costs remain contained, inflation should remain consistent with the target over the next one to two years, even with lower levels of the exchange rate.
Monetary policy remains accommodative. Interest rates are very low and for some borrowers have edged lower over recent months. Savers continue to look for higher returns in response to low rates on safe instruments. Credit growth has picked up a little. Dwelling prices have increased significantly over the past year, though there have been some signs of a moderation in the pace of increase recently. The earlier decline in the exchange rate is assisting in achieving balanced growth in the economy, but less so than previously as a result of the higher levels over the past few months. The exchange rate remains high by historical standards, particularly given the further decline in commodity prices.
Looking ahead, continued accommodative monetary policy should provide support to demand, and help growth to strengthen over time. Inflation is expected to be consistent with the 2–3 per cent target over the next two years.
In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.
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Moderation in pace of house prices lately, despite significant yearly growth: Glenn Stevens' June statement

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Almost three quarters (74.13%) of those financing a loan are opting for variable rate products, up 0.62% over May, according to Mortgage Choice’s latest home loan approval figures.
Mortgage Choice spokesperson Jessica Darnbrough said that this is unsurprising as an increasing number of lenders are offering discounts on their variable rate products.
“Australia's lenders are hungry for business and they have been offering some sensational variable rate discounts in a bid to attract borrowers and grow their market share,” Darnbrough said.
“We have seen some lenders offering discounts of up to 1.3% and even 1.4% off the standard variable rate. We haven't seen this level of discounting for some time, so it is no surprise to see the popularity of variable rate products on the rise.”
Victoria and Queensland, however, have bucked the trend by being the only two states not recording an increase in demand and recording the lowest demand from the product – at 71.92% and 570.16% respectively.
New South Wales saw strong variable rate demand increases, with 7.25% growth over May to reach 73.65%.
Western Australia and South Australia recorded high popularity levels for variable rate products, at 80.15% and 78.24% respectively, and bringing up the national total.
“While variable rate demand was sluggish in both Victoria and Queensland, fixed rate demand was on the rise, with the popularity of this loan product surging 8% in Victoria to sit at 28.08% and 4.62% in Queensland to sit at 29.84%,” Darnbrough noted.
Fixed rate demand for the other states and territories was down nationally, at 25.87%, down from 33.06% recorded in December 2013.
If you're asking <a href="/expert-insights/finance/analysis-is-it-worth-fixing-your-home-loan">whether you should fix your rate, here's a recent analysis that may help</a>.
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Three quarters opting for variable rates: Mortgage Choice

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Mortgage rates below 5% are widely available given the cash rate has remained constant at a record low 2.5%.
Loans.com.au, for example, is offering a mortgage with a comparison rate of just 4.58%, according to RateCity.com.au. BankMecu is offering home loans at 4.7% and State Custodians has a mortgage with a comparison rate of 4.74%.
Such low interest rates, along with slowing property price appreciation, have made housing more affordable at a national level than it has been for more than a decade, according to the March 2014 quarter HIA-CBA Housing Affordability Index, released last week.
The index showed that across the country affordability was at its most favourable level since March 2002.
Affordability improved during the quarter in Sydney, Perth and the Australian Capital Territory, while it remained unchanged in Melbourne. Affordability also improved in regional markets in Western Australia, New South Wales and South Australia.
Properties in Adelaide, Hobart and Brisbane, as well as regional areas of Tasmania, Queensland and Victoria became less affordable, the index showed.
In its affordability calculations, the index uses the Reserve Bank of Australia’s indicator lending rate for the discounted variable rate of all bank loans available to homeowners.
The interest rate used in the March quarter was 5.1%. At that interest rate, monthly repayments on a $350,000 mortgage taken over 25 years are just $2,067, according to RateCity.com.au’s home loan calculator.
While most economists agree there’s little chance of an interest rate rise in the near term, many expect rates to be lifted at some point within the next 18 months.
Variable rate loans are still the most popular type, despite the increasing take up of fixed rate mortgages. This means most people who take out a home loan are fully exposed to fluctuations in lenders’ mortgage rates.
The probability that rates will rise means it is important for borrowers to consider higher interest rates in future when taking out a mortgage.
In the March quarter of 2013, the indicator lending rate was 5.67% and the year before that it was 6.67%.
The same $350,000 mortgage, over 25 years at a 5.67% interest rate would cost $2,185 a month – $118 more than the indicator rate in March 2014.
If rates go back up to 6.67%, as they were two years ago when the official cash rate was 4.25%, monthly repayments would rise to $2401 – $334 a month above current levels.
Over a 25 year period, interest rates will change dramatically. Between mid-1989 and early 1990, banks were charging an average of 17% on standard variable owner-occupied mortgages, according to the Australian Bureau of Statistics. Some commentators say there has been a structural shift in interest rate movements that would prevent rates from reaching those levels again, but higher rates than the existing levels are considered more normal.
As recently as mid-2008, the indicator lending rate for bank discounted variable rates was at 8.95%. Repayments on the $350,000 loan back then would have been $2,925 a month. That’s $858 a month more than the cost at current prevailing interest rates, which could cause significant affordability problems for borrowers who have not planned ahead.
Housing affordability index
<img src="/images/2014/06/02/zoe-june-2-one.jpg" alt="">
* Annualised
Source: HIA-Commonwealth Bank Housing Affordability Index* Annualised
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Thanks to low interest rates, affordability at highest level for over a decade: HIA-CBA index

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Investors should steer clear of Brisbane’s inner city, New South Wale’s Hunter region and Queensland's Emerald, according to Hotspotting.com.au’s Terry Ryder.
In his <a href="https://hotspotting.com.au/reportDetail.php?num=146" target="_blank">Over-supply Alert</a>, commentator and regular Property Observer contributor Ryder nominates 10 regions that investors should avoid due to oversupply issues. According to Ryder, “supply is the factor most over-looked by property investors,” with many focusing on demand.
He attributes the Gold Coast’s five year price tumble to oversupply, while the same factor is also to blame for Wyndham City’s stagnation. With oversupply, writes Ryder, comes a fall in rents which in turn pulls down property values.
The regions Ryder to avoid fall loosely into two “danger situations”: inner city apartment markets and regional centres where increasing supply has coincided with declines in demand due to the resource sector slowdown.
Here are Ryder’s top 10 markets to avoid:
<ol>
<li>
Brisbane inner-city (QLD) 
</li>
<li>
<a href="/news">Emerald </a>(QLD) 
</li>
<li><a href="/news">Gladstone </a>(QLD) </li>
<li>
<a href="/news">Gracemere</a> (QLD) 
</li>
<li>
Hunter region (NSW) 
</li>
<li><a href="/news">Mackay </a>(QLD)</li>
<li>
Melbourne inner-city (VIC)
</li>
<li>
<a href="/news">Moranbah</a> (QLD)
</li>
<li>
Perth inner-city (WA)
</li>
<li>
<a href="/news">Port Hedland </a>(WA)
 
</li>
</ol>
This article continues on the next page. For Terry Ryder's explanation of each city's market, click below.
<hr class="system-pagebreak">
 Terry Ryder explains why each region is affected by oversupply issues.
<ol>
<li>
Brisbane inner-city (QLD) Despite the “aura of safety and respectability” surrounding CBD apartment markets, Ryder warns that <a href="/news">Brisbane</a>’s CBD residential market hasn’t performed well historically. He notes the city has 69 apartment developments, of 100 or more units each, scheduled for the next five years, which “suggests the situation will get worse before it gets better.” 
</li>
<li>
<a href="/news">Emerald </a>(QLD) Ryder cites the shrinking Bowen Basin coal industry as a factor in Emerald’s growth prospects, with new stock from developers hitting at exactly the wrong time. “But currently this is a market to avoid – at least until the new resources projects get under way and the existing accommodation surplus is absorbed.” 
</li>
<li>
<a href="/news">Gladstone </a>(QLD) Gladstone’s vacancy rate currently sits at 8%, up from 1.5% in August 2012. According to Ryder, Gladstone is now experiencing the effects of a wave of developer activity in late 2012 and early 2013. 
</li>
<li>
<a href="/news">Gracemere</a> (QLD) About 10 kilometres out from Hotspotting favourite Rockhampton, Gracemere “has just been smashed by developers” according to one of Ryder’s clients. Ryder sees the almost doubling of residential building approvals in Gracemere from 2011-2012 to the next year as a “warning signal.” 
</li>
<li>
Hunter region (NSW) The coal industry’s downturn has also hit New South Wales, with Ryder claiming that despite several other strong economies in the area, the resources sector once “elevated its status to a boom region.” Though he believes that the coal industry’s contraction isn’t likely to be permanent, Ryder says the downturn in demand is occurring alongside a rise in developer activity, driving oversupply. 
</li>
<li>
<a href="/news">Mackay </a>(QLD) Mackay is another region feeling the effects of a contracting coal industry, according to Ryder. But he believes that it will eventually pick up. “Mackay has been a strong regional property market numerous times in the past and will be again in the future. It's a growth centre and it has one of Queensland's most important export ports for the resources sector,” he writes. “But currently this market is still in decline and is one to avoid until the bottom has been reached.” 
</li>
<li>
Melbourne inner-city (VIC) This isn’t the first time Ryder has raised concerns over Melbourne’s inner city market. Last month, he wrote that <a href="/expert-insights/buying/the-inner-melbourne-boom-is-toxic-growth">“the inner Melbourne “boom” is toxic growth if ever I’ve seen it</a>.” “Local investors should stay well away from this market,” advises Ryder. 
</li>
<li>
<a href="/news">Moranbah</a> (QLD) With a vacancy rate of 10%, “the Moranbah market is a basket case – and Australia’s most spectacular example of the rise and fall of a property market,” writes Ryder. Again, Ryder writes that although the area will recover in the future, “right now it’s the nation’s No.1 No Go Zone.” 
</li>
<li> Perth inner-city (WA) Oversupply is a smaller issue in Perth’s inner city than in Melbourne or Brisbane, writes Ryder. But nevertheless he cautions investors against the area. “There are high levels of urban renewal activity in and around the <a href="/news">Perth </a>CBD and this is likely to see considerable new construction in the near future,” he writes. 
</li>
<li>
<a href="/news">Port Hedland </a>(WA) Ryder urges investors to disregard marketing materials when it comes to Port Hedland, where properties are taking five months to sell as the mining boom winds down.
</li>
</ol>
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Terry Ryder’s top 10 markets to avoid

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National residential property listings rose 5.2% between April and May, with 366,413 residential properties listed according to SQM Research.
The research firm believes that stock levels have stagnated, with last year’s “frenzy in the market” fading. Total stock on the market was down 1.8% from May 2013.
However, SQM has also noted that the monthly rise in stock levels was largely due to the five May Fridays this year. With only four Fridays usually occurring in a month, the extra week meant more listings for a larger sample, particularly given that many new listings are released on a Friday for the weekend.
Darwin was the only capital city to see a big jump in listings since May last year, with stock up by 21.7%. According to SQM, stock level increases are an ongoing trend in the city. Canberra saw the largest decrease in stock listings in the last year. Despite an expected downturn in the city, stock on the market decreased by 11.4%.
On a monthly basis, no capital city saw a decrease in listings. However, the smallest increase in stock on the market was recorded in Hobart, where the number of listings rose 1.7% for the month to 4,499.
Average house and unit prices have also stayed relatively flat on a month to month basis as shown by SQM Research’s Asking Price Index. SQM recorded a 0.7% increase for house prices between April and May and a 0.5% increase for units.
SQM Research’s managing director Louis Christopher says that given market conditions, he doesn’t expect an increase in interest rates right now.
“Some heat has come out of the national housing market as SQM Research is no longer recording the large scale, year on year decreases in listings that was occurring this time last year,” he said.
“Right now, it appears to be a market that is steady and not too strong yet not too weak. At this stage I don’t believe the market is at the point where an upward pressure would be placed on interest rates.”
 
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Market "frenzy" fading with asking prices at a standstill and stock levels stagnating: SQM Research

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Growthpoint Properties Australia has exchanged contracts for the acquisition of the New South Wales Police headquarters in the Parramatta CBD.
The purchase will be funded by an equity raising of $80 to $125 million and, depending on equity take-up, $131 to $176 million from expanded existing debt facilities. 
The 1 Charles Street building was purchased from AustralianSuper.
Listed through CBRE, the 2003 two tower office complex comes with parking for 444 vehicles. It had a total lettable area of 32,700 square metres.
The South African-backed Growthpoint Properties Australia headed the field, against rival Cromwell Property Group after the ­expression of interest campaign closed through Josh Cullen and Rick Butler of CBRE earlier this year.
With a 7.6% yield, the property is fully leased to the NSW state government with a significant remaining lease duration of 10 years and a further five year option period. 
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Growthpoint Properties Australia now owns interests in a diversified portfolio of 51 office and industrial properties throughout Australia valued at over $2 billion.
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NSW Parramatta police HQ sold to Growthpoint

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Another 1,000 apartments have been approved in central Melbourne suburbs, according to new information from Planning Minister Matthew Guy, who says that the last thing Victoria needs is a housing shortage like Sydney’s.
With 751 apartments in a four-building Footscray project, and a new tower on Southbank’s Haig Street offering 249 apartments, the investments total $270 million.
“The last thing we need in Victoria is a housing shortage like the one Sydney is experiencing,” said Guy.
“Whether planning for land supply in suburban growth areas, for urban renewal precincts or for central city high rise apartments, we need to keep building enough homes to keep the market affordable,” he said.
He noted that around 2,000 Melburnians will live in these apartments at some point, with the units being vital in meeting the needs of a growing population.
“With Victoria growing at a record rate, including record numbers of babies being born, it is important we cater for all kinds of housing growth.”
Plan Melbourne has identified Footscray and Southbank under the expanded Central City area for major population growth.
The Footscray project, 2 Hopkins Street, was rezoned for high density development in 2009 along with the Joseph Road Precinct. The four buildings planned for this development span from 16 to 28 storeys, and include ground floor retail.
Meanwhile, the Southbank Haig Street project will be 39 storeys, or 122 metres tall, and will be 100 metres from the Clarendon Street tram.
Around 1,890 construction jobs are expected.
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Central Melbourne sees 1,000 apartments approved to avoid Sydney-like housing shortage

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Obviously, the real estate agent’s job is to get the best price possible for the vendor, while the buyer’s agent is there to negotiate and get the best price for the buyer. With these two conflicting roles in mind – how close is too close?
Whenever you discuss with a buyer’s agent their role, they say that there are many aspects that make them good at their job. This often includes their relationships with local real estate agents, and their ability to access off market sales and snap up bargains for “under market value”. Anything that a buyer’s agent does to legally get their client a better deal is that expert doing their job well and so criticism should not necessarily be levelled at buyer’s agents for being savvy negotiators.
As a result, it isn't exactly surprising that vendors may express concerns when a buyer's agent is expressing interest in purchasing their property.
<blockquote>
An agent acting for the vendor should, prior to going to market, set a base line of offers that will be submitted to the vendor.
</blockquote>
However, real estate agents are there to protect the vendor from buyers, and their representatives, who are looking to get a cheap deal. Clearly, there’s a disconnect here. If buyer’s agents are building relationships with real estate agents to get cheap off-market deals, does this mean that the real estate agent is not doing their job properly?
Not necessarily.
We note that some buyer's agents are hired by owner occupiers who are happy to pay market value, but are looking to get into a specific market or to <a href="/expert-insights/buying/buyers-agents-are-particularly-beneficial-for-busy-people-david-airey">take the hassle out of the buying process</a>. They are also often hired for their ability to "find" investment-grade product (here, for instance, is <a href="/news/how-buyers-agents-pick-the-best-performing-properties">buyer's agent Rich Harvey's take on how to find the top performing properties</a>) and for their strengths when bidding at auction. This article refers to their negotiating strategies, particularly via private treaty or prior to auction. If you are interested in whether or not you should hire a buyer's agent, we <a href="/news/the-argument-for-against-buyers-agents">recommend reading this for/against article first</a>.
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This is a dangerous liaison if the vendor’s agent is going to be persuaded to undersell the property, or accept first offers.
</blockquote>
Just Think’s Edwin Almeida answered Property Observer's Tuesday Q&amp;A about the dynamic between real estate agents and buyer’s agents.
What offers do you absolutely have to put through to the seller?
First and foremost let’s get it clear, an agent acting for the vendor should, prior to going to market, set a base line of offers that will be submitted to the vendor. These offers, be they in writing or verbal offers, need to be discussed beforehand. This eliminates any misconception that the agent will try and “condition” their vendor into lowering the asking price. I believe this will also make the agent more accountable to their own market opinion when submitting the proposal to be the selling agent.
Under our regulations [the Property, Stock and Agents Regulation 2003]
Schedule 2 Principal to be informed of an offer
Section 3(1) The agent must, unless the principal has instructed to the contrary in writing, inform the principal of all offers of purchase as soon as practicable after receiving the offer up until exchange of contracts has taken place.
So in theory all offers must be put to the vendor not just the written offers as most quote. However;
Sub-section (2) If the agent is not going to inform the principal of an offer, the agent must inform the person who made the offer that the offer will not be submitted to the principal. Most agents forget, that they further to the above, even when a verbal offer is submitted and this is passed on to the vendor, the agent must confirm this offer in written form (Sub-section (3)). Should real estate agents keep their distance from buyer’s agents (or buyer’s advocates, as they are also called)? This is a dangerous liaison if the vendor’s agent [which is what we could also call the real estate agent] is going to be persuaded to undersell the property, or accept first offers. The relationship between BA and VA works well when selling off the plan properties, and developers need quick sales to satisfy bank funding requirements. In essence, the relationship works when the vendor is in need and is under some sort of pressure to achieve quick sale; financial, legal obligation or timing issue. This relationship also works well when dealing with developments and the VA is looking for the unsophisticated would-be developers, typical of foreign investors. Can off-market sales ever be good for a vendor? Only if the buyer’s agent meets the asking price. Or if the vendor does not wish to publically advertise the property; this is when we rely on buyers agents. The silent listings that require discrete marketing strategies may also be an opportunity for an off-market sale to benefit a vendor. There are a number of these. Some development sites fall into this, but there are some high end homes also out there on the silent market. What are the tactics of buyer’s agents that real estate agents should shield the vendors from? Low offers: Offers that are ridiculously low and the BA insist they be submitted just because they have made these in writing. This only works with agents that do not truly understand the process. As above. Pest and building reports: Protect your vendor by obtaining a P&amp;B report prior to the marketing, this way most, if not all, objections will be dealt with, as opposed to subjecting the vendor to objection pressure during the selling campaign. Remedy the problem at a low cost rather than an exaggerated perceived cost. Dealing with dummy buyers: Some, although not all buyer’s agents, will send in dummy buyers to place low offers on properties, again another way to so-called ‘condition’ the agent and vendor. Once more this is quickly dealt with if the real estate agent knows the value of the property and has already discussed the strategy how to handle low offers. 
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YOU MIGHT ALSO WANT TO READ:
<ul>
<li><a href="/expert-insights/investing/selling-agents-and-buyers-agents-work-together-but-have-opposing-goals">Selling agents and buyers' agents work together but have opposing goals</a></li>
<li><a href="/expert-insights/investing/selling-agents-and-buyers-agents-work-together-but-have-opposing-goals">The reciprocal relationship between buyers' agents and selling agents </a></li>
<li><a href="/expert-insights/investing/the-reciprocal-relationship-between-buyers-agents-and-selling-agents">A selling agent will never work in a buyer's best interest: Catherine Cashmore</a></li>
</ul>
What topic would you like to see covered in our next Tuesday Q&amp;A? Send requests for topics and experts to <a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
Photo courtesy of pallspera.com/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Q&A: How close should a real estate agent get to a buyer’s agent?

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While it's an interesting exercise to draw property market charts back to the middle decades of the 1800s, it doesn't really help us to draw any logical conclusions about the future.
There is little comparison to be drawn from the slums in The Rocks of the 1900s where an outbreak of the <a href="https://makinghistoryatmacquarie.wordpress.com/2012/11/20/the-bubonic-plague-outbreak-in-sydney-1900-disease-as-a-political-tool/" target="_blank">bubonic plague</a> was killing residents and the modern housing of today.
That would be like comparing Ken Rosewall to Rafa Nadal and concluding that Rosewall was rubbish. He wasn't, of course, but the rules have changed.
Perhaps a more useful starting point for housing market data would be 1986, which is when lending markets in Australia were <a href="https://petewargent.blogspot.com.au/2014/05/interest-rates-more-important-than-they" target="_blank">deregulated</a> in a sweeping move which won't be reversed.
A few other things have changed since then too. 
I was reading a book on commercial property yesterday written in 2003, which anticipated that Australia's population could "swell" to 25 million by 2051. 
Well, we're <a href="https://www.abs.gov.au/ausstats/abs@.nsf/0/1647509ef7e25faaca2568a900154b63?OpenDocument" target="_blank">well past 23.5 million</a> already in 2014 and heading towards a projected 40 million or so by the middle of the century.
That's one major shift.
Another has been the huge change in borrowing rates. Today it's possible to borrow for housing a rate close to 4.50%, which is unfathomably low as compared to 25 years ago.
<div class="separator"><a href="https://3.bp.blogspot.com/-sIBAhQMwIM4/U4MkXg5x1JI/AAAAAAAANcM/d_Qc5mHo8ko/s1600/IRHAustralia.jpg"><img src="https://3.bp.blogspot.com/-sIBAhQMwIM4/U4MkXg5x1JI/AAAAAAAANcM/d_Qc5mHo8ko/s1600/IRHAustralia.jpg"></a></div>
Anyway, we've looked at the <a href="https://petewargent.blogspot.com.au/2014/05/interest-rates-more-important-than-they" target="_blank">role of lending deregulation</a> before.
Today let's consider...
Gender
Another major demographic shift in the last few decades has been the increasing role of females in the workforce.
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The stats show that with total employment in the Australian workforce increasing to above 11.5 million, the percentage share of females has increased from around a third towards almost half at 46%.
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<a href="https://2.bp.blogspot.com/-74IIj28MzKU/U4LxV0f8A8I/AAAAAAAANbs/6DyOHZk9FEQ/s1600/1Gender.jpg" style="line-height: 1.3em;"><img src="https://2.bp.blogspot.com/-74IIj28MzKU/U4LxV0f8A8I/AAAAAAAANbs/6DyOHZk9FEQ/s1600/1Gender.jpg"></a>
This impacts property markets because there has been a dramatic increase in the number of dual income households which boosts purchasing power and loads the dice in favour of the couple with two incomes and over the single income household. 
This is where it's important to consider some specifics if you are looking at buying a property. 
Phrases like "many young people want to live near the city" and "many young people look at apartments" may indeed be true, but they are so generic that they don't really tell you a lot.
Similarly, saying that "there are many more dual income households" may also be correct, but it doesn't really tell you much about the impact on property markets unless you drill down to a localised level.
Demographics by suburb
Let's say I'm looking at buying an investment property in a prestige leafy harbourside suburb in Sydney such as Neutral Bay, which is one of the locations I bought in last year. That's around 10 minutesto the Opera House and Circular Quay on the ferry.
First, I'd take a look at the demographics of the suburb. The data below is from RP Data, but you can use other sources if you prefer.
<div><a href="https://3.bp.blogspot.com/-XMzmD5RJm6A/U4ZplsNa7KI/AAAAAAAANeo/BELXw6FACrw/s1600/1NBaaa.jpg" style="line-height: 1.3em;"><img src="https://3.bp.blogspot.com/-XMzmD5RJm6A/U4ZplsNa7KI/AAAAAAAANeo/BELXw6FACrw/s1600/1NBaaa.jpg"></a></div>
<div>Source: RP Data.</div>
This gives me a good idea of my target tenant.
Intuition already tells me that it would most likely be a professional couple in a similar age bracket to myself, and the data says...yep, pretty much, 25-34 year olds are probably the go.
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Source: RP Data 
Note the impact of the dual income household in <a href="/news">Neutral Bay</a>, where the most households are in the $130,000-$180,000 household income bracket.
If you live in central Sydney, a lot of this is stuff is partly intuitive. In the type of inner suburb apartment blocks I've lived in over the years, the overwhelming majority are let to young two-income couples who work in or near the city. 
What the demographics of the suburb also tell me is that the target entry price for an apartment would likely be $650,000 to $750,000. 
That way, even couples with heavily geared 80% loans should still be able to service their mortgages in the unlikely event that standard variable borrowing rates return to 10% any time soon.
In that price bracket you'd likely be looking at a quality two bedroom apartment on a quiet street with parking, and ideally harbour or district views. 
Prolonged high levels of unemployment is a different issue for housing markets. 
The longer term data tells me that the population of Neutral Bay has not increased at all between Censuses  (it actually fell a little last time around) because the supply of new dwellings has been almost totally capped. 
The demand for housing in a glistening, prestige harbourside suburb will easily outstrip the available supply over the long term simply because there is very little new supply.
Median apartment prices have not done anything particularly spectacular, moreover they have simply tracked the growth in housheold incomes over the past decade, appreciating at around 4% per annum on average.
<div class="separator"><a href="https://2.bp.blogspot.com/-UUW2mcSxKxM/U4ZriF3o9hI/AAAAAAAANe8/ep_x1EQ6zaQ/s1600/1NB2.jpg"><img src="https://2.bp.blogspot.com/-UUW2mcSxKxM/U4ZriF3o9hI/AAAAAAAANe8/ep_x1EQ6zaQ/s1600/1NB2.jpg" width="400" height="258"></a></div>
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There will certainly be downturns in a suburb like Neutral Bay as there are anywhere, but they are unlikely to be severe in the price range identified above. The replacement cost of apartments is high, and a downturn in prices would likely quickly be met by new demand.
Naturally, you could alternatively look at a house in the suburb but the entry point would likely be very high at $1.5 million plus. The long-term capital growth outcome would likely be great, but the ride would be more volatile and the holding costs more painful.
Clearly, we're looking at a prestige Sydney harbourside suburb scenario here. If you were looking at investing in a distant location somewhere west of <a href="/news">Narromine</a> rather than Neutral Bay, you would be looking at different demographics and income profiles, and therefore a necessarily lower entry price.
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

The demographics of dual income couples

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Paradigm was the buzz word when Australia was handcuffed to a hung parliament, so to be different let’s take a look at Australia’s property paradigm and what we can expect to be reading about the direction Australian property is headed in coming months.
Many vastly differing opinions are front and centre at the moment, for some strange reason commentaries keep reverting back to Australia’s property boom in 2003/04 – which I am struggling to accept.
In 2003/04 Australia was basking in an unprecedented period of economic growth together with a booming resources sector, which for want of a better expression, this may be better described as the old economy given our resources sector is now in decline.
The latest capex figures were released by the Australian Bureau of Statistics (ABS) this week which revealed that total capex fell by 4.2% in the March quarter. Most notable was the mining industry which declined by 8.7% in the March quarter with total new capex now 5% lower than this time last year. As Australia moves from mining to non – mining industries the building sector was suggested as the biggest benefactor from mining and also declined by 7.4% in the March quarter. Capex has now fallen by 8.5% over the last two quarters – which puts the Australian capex on par with the largest six month decline since the recession back in 1993.
There are many questions that today remain unanswered given there is growing opinions that Australia’s long-term planning may need an immediate visit back to the drawing board as these unknown economic irregularities have Australia steering into unknown waters. Certainly the latest capex figures indicate that our productivity is headed completely in the wrong direction.
With interest I have been closely watching the ANZ – Roy Morgan weekly consumer confidence rating which has revealed that confidence is now down 15% since the Abbott government first started spruiking its budget policies. This has brought about a most unusual trifecta given we see confidence, terms of trade and property prices (apparently) in decline. What we are seeing today is a complete opposite to what happened back in 2003/04 although the cash rate back then was approximately double what it is today and from 2003/04 the cash rate steadily increased to 7.25% in 2008 only to be halted by the global financial crisis.
<a href="https://www.rwm.com.au/files/2014/05/27-05-2014-12-25-40-PM.jpg"><img class="aligncenter size-full wp-image-8564" src="https://www.rwm.com.au/files/2014/05/27-05-2014-12-25-40-PM.jpg" alt="27-05-2014 12-25-40 PM" width="595" height="357"></a>
Source: Macro Business
Although what is conflicting is the property dynamic over the same period for residential term loans to households which may very well explain why we are starting to see the early signs of the property markets easing. Although it must be noted that the traditional real estate markets have only recorded modest capital growth when compared to the outer Sydney areas that have posted unprecedented capital growth.
It is anyone’s guess when the RBA will start increasing the cash rate again although most agree that they will remain where they are for some considerable time to come.
<img class="aligncenter size-full wp-image-8565" src="https://www.rwm.com.au/files/2014/05/27-05-2014-1-10-16-PM.jpg" alt="27-05-2014 1-10-16 PM" width="696" height="347">
 
Source: Digital Finance Analytics
With interest this week I read Ian Macfarlane on central bank policies, inflation and China on <a href="https://cuffelinks.com.au/ian-macfarlane-central-bank-policies-inflation-china/" target="_blank" title="Cuffelinks">Cuffelinks</a>. What I find most interesting about China is that aside from them being a number one client for buying our iron ore, which is now in decline, they are fast becoming the number one foreign purchaser of our real estate.
What that in itself may suggest that given their insatiable interest in Australian real estate prices will flat line for some considerable time to come as they are definitely a noteworthy driver of real estate today – this reinforces the mislead perceptions/predictions that real estate values will fall.
The biggest question marks over Australian real estate are quite simple and twofold – what will happen to the markets when the cash rate goes back to some form of normality say at 7.50% which represents a 200% increase? Lastly, they keep mentioning negative gearing and given the Australian government’s debt position there will come a time when this great tax deduction is re-examined.
Although maybe we are looking at the wrong paradigm given nobody can explain why the ASX surged to a six year high this week?
Obviously I must have missed something?
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