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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It sounds a little bit grotty, but the term ‘sweat equity’ has made its way into common investor usage. This little piece of terminology is relatively simple, but also worth deeper consideration.
On the surface, it’s essentially the alternative to financial equity. Instead of pouring money into a project, let’s take a renovation for simplicity, you instead pour your actual personal effort and energy into the project. For instance, instead of hiring a plumber, you get in there and put your skills to the test.
Upsides
Likely, you’ve added some ‘sweat equity’ to a project without realising it has a name before. Perhaps you’ve painted a property, or tidied it, prior to selling. Likely you’ve added a bit of value, no matter how small, without spending a cent. In this result is the benefit of sweat equity – you haven’t touched your bank account, and yet you’re making money in the form of equity on your property.
If you have a skill, such as a trade, then using this appropriately is well worth while. If you’re a licensed plumber or asbestos removalist, or your friends are, then getting everyone around to work on a project can be immensely useful.
While it’s easier to understand this concept when considering a renovation, “sweat” equity doesn’t have to include activities that make you sweat. If you are willing to undertake your own research, or similar, then you can make some sweat equity upfront by using your computer and sourcing a property and negotiating. Wherever you can ‘DIY’ to add value for your property, such as getting a DA, you’re using sweat equity.
Downsides
<ul>
<li>Not understanding your personal limitations</li>
</ul>
If you’re not an expert and get caught up in the idea of ‘sweat equity’ then you may be risking an amateur job. Remember, there are people in the industry that have been managing properties, recarpeting homes and styling properties for years. There’s a demand for certain services for a reason. Don’t attempt to be handy with your investments if you’re not – you could end up making a mess and needing to pay a bigger bill to rectify the issue.
<ul>
<li>Time has an inherent dollar value</li>
</ul>
While sweat equity can seem like getting money for free, remember that your time is inherently valuable. If you are taking time off of work, particularly unpaid, to work on your property in any way then you need to make sure you can’t be making more elsewhere. Taking a week off to add $10,000 in sweat equity is obviously worthwhile for most on average salaries, however the majority of the time it’s likely you’ll be attending to small jobs that could cost you a small amount and not interrupt your sleeping schedule.
Similarly, if investing becomes your “full time” job, you want to factor in the concept of a full time salary. If your own cost per hour works out to more than it costs to hire in the experts, you may want to reconsider. If you’re spending your leisure time doing manual labour jobs, you also want to make sure you don’t get burnt out in the process.
<ul>
<li>You can’t tax-deduct your own work</li>
</ul>
Unfortunately, where you can keep receipts and the formal information from contractors that work on your property, the lay person doing a bit of handy work on their own investment cannot claim for their own time. You can, however, claim for travel expenses to your investment property for repairs and similar work, and for any materials purchased. For instance, if you decide to do the cleaning yourself after a renter leaves, you cannot claim for your hours of work – but you can claim for the bleach, cleaning products and equipment used.
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jduke-EHk3XBmHkn

What is ‘sweat equity’? How you can make the most of it

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Darwin’s median house price sat at $585,000 for the quarter to April, according to RP Data. 
Sitting just above the median price for all eight capital cities, the Northern Territory's capital was up 0.9% on RP Data-Rismark's Daily Home Value Index, and up 11.7% on a year to year basis. 
Property Observer looks at Darwin sales for the April quarter to see just what $585,000 will buy you in the city.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-nt-moil-115444931" target="_blank">3 TERMANSEN STREET, MOIL</a>  <img src="/images/2014/05/26/main%207.jpg" alt=""> Marketed as an “entertainer’s paradise” by Active Reality, this three bedroom home sold for $575,000 earlier this month. The 1977 build is tiled throughout. Set on 742 square metres, the property features multiple outdoor entertaining areas including a large veranda and undercover spa. The buyers can expect to pay $350 per year in council rates. Price: $575,000 Bedrooms: Three Drive to CBD: 16 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-anula-115343803" target="_blank">12 DRIFFIELD STREET, ANULA <img src="/images/2014/05/26/2.jpg" alt=""> </a>
This four bedroom home was sold for $560,000, after the former owner went bankrupt. The property is located in the Northern Territory suburb of Anula, about 13 kilometres out from the CBD. The air conditioned home has floating timber boards through most of the house and a renovated bathroom. Council rates will set the new owners back $1,380 a year. 
Price: $560,000 Bedrooms: Four Drive to CBD: 15 minutes<a href="https://www.realestate.com.au/property-house-nt-anula-115343803" target="_blank" style="line-height: 1.3em;"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-malak-115938615" target="_blank">5 NEATE COURT, MALAK <img src="/images/2014/05/26/3.jpg" alt=""></a> A house with a downstairs granny flat in Malak sold for $580,000 after a little over three months on the market. Situated on the end of a cul-de-sac, the two level house includes a granny flat on the lower level, with its own separate split level living space. The 819 square metres of land also includes an in ground swimming pool. Price: $580,000 Bedrooms: Four Drive to CBD: 17 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-leanyer-116036127" target="_blank">11 DOTTEREL COURT, LEANYER <img src="/images/2014/05/26/4.jpg" alt=""> </a>
This brick three bedder sold for $580,000. Set on 802 square metres, there is an in ground pool and covered outdoor entertaining area. Inside, the house is tiled throughout. Vendors purchased the home for $540,000 in 2010.
Price: $580,000 Bedrooms: Three Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-jingili-115875451" target="_blank">4 SANDERS STREET, JINGILI  <img src="/images/2014/05/26/5.jpg" alt=""></a> 
Going for $575,000, this home was sold by Simon Watts of Central Real Estate Darwin, who also sold 11 Dotterrel Court. This raised home is unrenovated, with original tiles, carpeted floorings and light fittings throughout. The three bedroom house was built in 1977 and held by the vendors for almost 30 years. Set on an 817 square metre block, buyers will be paying approximately $1,600 per year in council rates.
Price: $575,000 Bedrooms: Three Drive to CBD: 15 minutes
</li>
</ol>
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jrichardson-uRX5hFdKfN

What can you buy for Darwin’s median house price?

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The global financial crisis (GFC) caused many investors to re-think their strategies and while property investors managed to protect themselves more than others, property funds require specific attention.
AMP Capital’s Mark Ferguson head of Australian listed real estate and Christopher Davitt fund manager, wholesale Australian property fund, recently identified their three post-GFC lessons that all investors considering parking their money into a property fund can consider.
The hunt for income is as relentless as ever, they noted, recently evidenced by <a href="/expert-insights/finance/number-of-investment-property-loans-jumps-by-37-since-2010-roy-morgan">Roy Morgan’s stunning statistic of a recorded 37% uptick in investment property loans since 2010</a>, the current low interest rate environment and low bond yields, which contrasted with strong forecasts for Australian property, may cause this number to surge even higher.
<blockquote>
“Strong capital into the sector should translate into further price increases, which should support capital appreciation and grow future earnings over the long-term."
</blockquote>
In fact, they noted that they expect Australian property to continue providing strong, reliable income streams for investors, particularly as the appeal of property is based on the stability of income despite rises and falls in capital values.
The strength of rental agreements in maintaining yield is a very positive factor. "These are generally signed on a long-term basis, so the cash flow of rental income is 'locked in' for a predetermined period,” they explained.
"The housing story keeps improving on the back of lower interest rates and foreign investment,” they said, with <a href="/news/urban-taskforce-warns-against-xenophobic-review-of-chinese-investment-by-federal-government">foreign investment so strong it has now attracted official scrutiny</a>.
"Housing approval rates are up and capital-city auction clearance rates remain elevated despite high-profile company closures and job losses.
“Strong capital into the sector should translate into further price increases, which should support capital appreciation and grow future earnings over the long term."
They provided three investing tips, re-enforcing the concept that property requires a long-term investment outcome focus.
<ol>
<li>
Ensure you conduct research. Look into a property fund's track record and "stick to fund managers with an established reputation and sound history". 
</li>
<li>
Check that the gearing levels are not too high. As some property funds look to borrowing capital as a necessity to boost their potential investment returns, which is a technique known as gearing, it's worth remembering that it magnifies the potential for both gains and losses. Everyone's comfort with this differs, so ensure that the gearing levels are not too high for your risk profile. 
</li>
<li>
Understand underlying risks. Each fund holds different investments that contain a different amount of risk, and you must be aware of the underlying risks of the fund you are considering. Be "mindful that funds investing in a single asset carry more risk than those that invest in a portfolio of properties". They also suggested that investors be wary of properties with complex business models where there is a cross-collateralisation of debt.</li>
</ol>
In the long-term future, AMP Capital predicts direct property and Australian listed property to deliver robust income returns.
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AMP Capital's three post-GFC property fund lessons

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Positioned opposite Victoria Park on a substantial 3,718 square metre block, Mimosa, the 1894 heritage listed Victorian Italianate mansion at St Marys has been sold.
The western Sydney home fetched $2 million mid-week. The suburb's median house price is at a record $377,500, <a href="/news">according to RP Data</a>.
Retaining original grandeur, it was the first <a href="https://www.dukesestateagents.com.au/Property.aspx?Property=702&amp;s=St%20Marys%20&amp;=mi&amp;=ma&amp;=t&amp;=be&amp;=ba&amp;=c" target="_blank">time offered in over 60 years</a>.
"It presented an once-in-a-lifetime opportunity to secure a local landmark," the Dukes Real Estate Penrith marketing said.
<a href="https://www.realestate.com.au/property-house-nsw-st+marys-116045467" target="_blank">It was sold through Craig Caughlan </a>who listed it last November with $1.95 million plus hopes.
Caughlan, noting that many house sales have been for consolidation and residential redevelopment, estimated the sale at least doubled the previous record.
It was built for master tanner Andrew Thompson, in the early Penrith district days.
The local St Marys historical society notes it was built in 1894 by local builder Joseph Sainsbury.
Mimosa was considered to be the most expensive home built in the district at that time. 
Apparently Andrew Thompson preferred to light the house with acetylene gas in preference to electricity and the home wasn’t switched to electricity until the 1950s.
He has started his first tannery with the help of an Irishman named John Briggs and he was the first Australian tanner to import the South African "<a href="https://www.stmaryshistoricalsociety.org/tributewi2004.htm" target="_blank">Mimosa</a>" bark which he found superior to the local product - this "Mimosa" emblem was used as his trade mark on his products and his family home in Pages Road. 
Andrew married John’s daughter Lydia in 1873. 
He died on his property “Lenore” on 30th October, 1918 and willed the family home to his spinster daughter Mary Thompson.
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jchancellor-FAypfDUnLy

Mimosa, the 1894 mansion sells at five times St Marys median

<html><body>
While a rise in home values across Australia’s property market has been welcome news for Sydney and Melbourne property owners in particular, the flow on effect hasn’t been so favourable for rental growth and yields.
Rental growth has slowed markedly and rental yields are falling as value growth significantly outpaces rental growth.
<img src="/images/2014/05/22/kusher-may-22-one.gif" alt="">
The May RP Data-Rismark Home Value Index reported that combined capital city home values increased by 11.5%. At an individual capital city level, value growth ranged from 1.2% in Canberra to a 16.7% rise in Sydney. Australia’s combined capital cities recorded an increase in rental rates of 2.4% over the past year.
Sydney, Melbourne and Hobart are the only capital cities where rental growth was greater over the past 12 months than for the previous 12 months. At the other end of the spectrum, growth slowed across five of the eight capital cities with Perth experiencing the most extreme slowdown.
<img src="/images/2014/05/22/kusher-may-22-two.gif" alt="">
Over the 12 months to April 2013, Perth rental rates had increased by 10.4% compared to a -0.5% fall over the most recent 12 months. Sydney was the only city to record an increase in rental rates higher than inflation; up 3.7% over the past year.
With a large percentage of loans now going to investors at a time when the rate of rental growth is slowing would suggest that most investors are chasing capital growth rather than rental return. When you consider that the value growth in our two largest cities (Sydney and Melbourne) has been so strong over the past year, it’s no surprise.
<img src="/images/2014/05/22/kusher-may-22-three.gif" alt="">
Comparing annual value growth and annual rental growth across each capital city, home values rose at a faster pace than rental rates and as a result, rental yields experienced a fall over the year.
It wasn’t surprising to see that the greatest differences between home value growth and rental growth have been recorded in Sydney and Melbourne.
<img src="/images/2014/05/22/kusher-may-22-four.gif" alt="">
As a result of values rising faster than rental rates, gross rental yields have fallen over the past year across each capital city. The largest falls in yields have been experienced across Sydney and Melbourne where value growth has been strongest. These two cities also have the lowest yields of all capital cities at 3.9% and 3.4% respectively.
This highlight that as home values rise, the level of rental growth has not been able to keep pace.
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ckusher-ujnxiKuFQs

Flow on effect of rising home value is slowing rental growth and falling yields

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Fearing that the property market will be used as a ‘rescue’ in the upcoming New South Wales state budget, the Real Estate Institute of New South Wales are warning the government to avoid the pressure of the federal budget to do so.
REINSW president Malcolm Gunning has urged Premier Mike Baird not to “follow the lead of previous governments who [have] used the property market to raise additional revenue” in a period where the market has shown recovery. He said that property shouldn’t be treated as a “cash cow” by the government.
“The property market is just showing signs of recovery and not all areas are enjoying growth. Property consumers and in particular first home buyers should not sit back and let this happen,” said Gunning.
He urged the state government not to increase land tax or stamp duty to plug budget holes.
In fact, some of his points closely match the <a href="/expert-insights/investing/the-reias-10-point-wishlist-for-the-federal-budget">10 point budget wish list submitted by the Real Estate Institute of Australia for the federal budget</a>.
Instead, a broadening of the GST tax base was suggested by Gunning.
“This should replace the revenue losses from the abolition of the discriminatory and inefficient state taxes,” he said.
<blockquote>
The REINSW urged the state government not to increase land tax or stamp duty to plug budget holes.
</blockquote>
“We have called on other state property institutes, associations and franchisors to voice their support for tax reform and we have already received backing,” he said.
“For too long the property market has been the state government’s cash cow and property consumers are now saying enough is enough.
New South Wales is expected to be $548 million over budget in transfer stamp duty collections for 2013/2014.
“Furthermore stamp duty rates have not been reviewed for 40 years. Bracket creep works in favour of government revenue and that is the reason it has not been reviewed. As a result of the failure to amend stamp duty rates, and the subsequent increase in property values over time, the average home is being taxed beyond that of which parliament initially intended,” he said.
“Change is long overdue and now is the time for Mr Baird to show he is a different sort of premier and remove these barriers to the property market and in particular provide support to first home buyers."
While Gunning suggested that pressure from the federal budget may encourage Baird to treat property in the manner of an additional revenue raiser, it may not indeed be the case that the federal budget has a significant effect on the property market’s strength.
Wakelin Property Advisory’s Richard Wakelin said that while the federal budget is a "horror budget", it’s unlikely to hinder the market.
“Although it may sound counter-intuitive, the sustainability of the property recovery will actually be helped by the response of consumers to the federal government’s austerity measures. It greatly reduces the likelihood of over-exuberance in the property market – which is already performing very strongly – and this subsequently transmitting into price inflation,” said Wakelin.
“It was the real threat of a resurgence in price inflation that was the greatest threat to the continuation of the property market’s recovery. Inflation had been stirring in recent months. Indeed it reached 2.9% in the March quarter, up from 2.2% six months earlier. If this trend persists it will inevitably force the Reserve Bank to raise the cash rate, possibly more than once.”
See over page for more 
 
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Wakelin noted that it appears the RBA is confident in easing inflationary pressures, with wage restraint and the view that the property market is easing, and it has extended a period of stable interest rates.
“But observers of monetary policy will know that the Reserve Bank’s attitude can change in a relatively short time.  For instance, were the Australian Bureau of Statistics to report a spike in recorded inflation in July, when they next publish, then the pressure to raise interest rates could mount,” he said.
He noted that the treasurer’s efforts may have “done enough” to temper exuberant behaviour and shops and at auctions, but not to the extent of losing positive sentiment completely.
“So despite the broad criticism of the Treasurer’s first budget, ultimately, it is much less damaging to the economy – and the property market – that inflation is reined in by an austere fiscal policy rather than the Reserve Bank raising the cash rate – which is a very blunt instrument that often takes months to exert the desired effect,” he said.
Recently, <a href="/expert-insights/investing/how-does-the-budget-affect-property-investors">Josh Atherton answered the question ‘how will the budget affect property investors?’</a>, saying that there are some changes (or changes that didn’t appear) that many investors should be thankful for.
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Don’t treat property as a cash cow in state budget: REINSW

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By now it should be overwhelmingly clear - the government has no interest in housing affordability and they will not take any measure to lower land values. If the budget didn’t paint the picture, no doubt the forthcoming Senate inquiry into housing will.
‘The age of entitlement’ is not over – it has been protected at the expense of ‘the age of opportunity’.
The current administration has surgically set about reducing living standards of the poor, making cuts to heath, education, and employing harsh means testing measures which will fall most heavily on the old, young, unemployed  and a broad sector of low to middle income families with dependant children.  
They have done this to studiously protect the interests of the wealthy, refusing to lay a finger on the licensed resource monopolies, the mineral wealth of which increased more than $55 billion in 2012-13 alone.
Clawing back just a fraction of the tax exemptions granted on capital gains, or placing a levy per ton of exported minerals, would not only have gone a long way to covering the budget short fall, but would also have lifted the burden from the poorest onto the richest.  But in a political system where major parties sell themselves to the highest bidder (which as current ICAC investigations suggest happen to be property developers and large land holders), their failure to do so should come as no surprise.
It walks hand-in-hand with the diabolical decision by “Australia's premier real estate industry education and training provider”, AREC, to employ an <a href="/news/the-wolf-of-wall-street-jordan-belforts-upcoming-arec-2014-attendance-a-huge-backward-step">ex convict</a> who defrauded clients out of more than $200 million to educate real estate agents at the biggest industry training event of the year.  Despite <a href="/news/wolf-of-wall-streets-gold-coast-arec-2014-attendance-continues-to-provoke-debate">protests from various participants</a>, the event has <a href="https://www.rebonline.com.au/breaking-news/7652-arec-expected-to-sell-out" target="_blank">sold out</a> and clearly not prickled the conscience of the other speakers who are happy to stand alongside ‘The Wolf of Wall Street’, Jordan Belfort.
The above measures, along with Tony Abbott’s desire to be knighted the ‘infrastructure Prime Minister’ will drive investment into housing – albeit, of the speculative kind.
Infrastructure intensifies the use and demand for residential land as the population grows and no doubt, we need more of it. However, it also has the effect of rising land values, which taken alone, should be a ‘good’ thing for our country (or at least it would be, <a href="/expert-insights/investing/who-is-really-benefiting-from-the-property-cycle-and-at-what-cost">if those gains truly benefitted the community</a>).
Instead those gains will be pocketed, leaving the government to scrape future funding from elsewhere.
Land cannot be reproduced because it cannot be moved; it’s fixed in supply, dependent on the employment sectors and community facilities that surround it.
All of the above raises cost of accommodation yet does little to address the needs of future generations, who, if they’re not lucky enough to inherit the goods, must take on an ever greater proportion of private debt to join in.
This widens the wealth gap between the land owning rich and income poor as the government leans back and lectures welfare recipients that “the world doesn’t owe them a living”.
The government has it within their power to move toward an economy that rewards productivity, reduces unwanted speculation, increases wages, encourages timely construction and the effective utilisation of land, promotes decentralisation into regional areas, keeps the cost of shelter affordable for young buyers, lowers rents for tenants, and levels the playing field between non-owners and owners.
Yet they won’t because their agenda is to protect their own private interests and that of the wealthy, above that of the community.
This means land will only developed for profit, timed to capture the upward wave of a cycle, rather than developed to meet the immediate needs of the home buyer and does little to deter <a href="/expert-insights/building/residential-developers-landbanking-denial">the wasteful process of land banking</a>.
The government, however, is not interested in genuine reform. Instead, they favour laws that give certain classes of people artificial advantages over others whilst having the conceited arrogance to advise it’s all in the ‘national interest’.
What does this mean for the property investor?  Well for the time being, the system will fall in their favour.  Interest rates will remain low, they will not rise, and the government will not intervene.
Over the long-term however, we will not escape the consequences of the government’s actions. Wage growth only increased 2.6% in the past year, a rate below the consumer price index and the weakest since records began. We are in effect going backwards, not forwards – and the economy will suffer as a result.
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The government's protection of the wealthy is bad news for the average property investor

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The Sydney market could be moving into dangerous ground and a “boom mentality”, Residex’s John Edwards has warned.
Edwards said that growth in the Melboure and Sydney markets has been strong, however it appears to be Sydney that concerns him most.
He noted that the growth in real terms, after inflation, over the last 12 months has been 17.25% for houses and 10.78% for units.
“It is reasonable to suggest that this market is approaching a boom mentality and this situation is dangerous, particularly for those who are borrowing heavily to get into the market. Interest rates are more likely than not to increase now as we move forward,” he wrote of the price rises.
Just last month, Edwards tipped <a href="/expert-insights/investing/john-edwards-10-house-and-unit-suburbs-expected-to-outperform-for-the-next-five-years">10 house and unit suburbs he expected to outperform over the next five years</a> - with a Sydney suburb topping his list for the 'house' investment opportunities.
He noted that the current median value of Sydney houses, at $821,500, required the median Sydney family to pay 52% of their after-tax income to support repayments, even with a 20% deposit, leaving $812 per week available.
He noted that, historically, once the 50% mark has been breached on the Affordability Ratio, the market tends to adjust. 
“The high rate of growth will cause the Reserve Bank of Australia (RBA) some level of anxiety and potentially ensure there are no further interest rate decreases, and possibly bring forward interest rate increases,” said Edwards. “All are expecting unemployment levels to increase and this situation, coupled will all of the above, could be a recipe for some significant adjustments later this year or, more likely, early next year,” he noted.
Property Observer has previously explored how to spot a bubble, asking a number of experts the signs that they think typify an inflated housing market. You can <a href="/expert-insights/investing/exclusive-how-can-we-spot-a-housing-bubble">read their responses in this exclusive here</a>.
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Residex’s John Edwards says Sydney market over-borrowing is dangerous and approaching “boom mentality”

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Sydney’s inner west clearance rate has been cooling but a dilapidated, rotting Leichhardt shack, in desperate need of renovation, or more likely demolition, sold at Saturday morning McGrath auction for $980,000. 
The home at 80 Edith Street, which attracted an $800,000 opening bid from the eventual buyer, hasn't even got a floor in the timber rooms.
The sale was effectively for the 278 square metre block with development approval for a new home.
The home, empty for 20 years. still had its rooftop television antenna. 
Just three of the eight registered parties put in bids on the property for which there were  <a href="https://www.mcgrath.com.au/buy/land-leichhardt-nsw-2040/224717/?searchID=39430462" target="_blank" style="line-height: 1.3em;">initial expectations of more than $850,000</a>.
McGrath agent Shad Hassen, who spoke right through the noise of the overhead Tiger jet departure from Sydney airport, predicts $1.6 million plus after any rebuild at 80 Edith Street.
<img src="/images/2014/05/26/leichhardt%20may%2026%20seven.jpg" alt="">
Leichhardt’s median house price is $927,500, <a href="/news">according to RP Data</a>. 
As such it is not among the 170 suburbs with a $1 million median house price, according to Australian Property Monitors.The figure comes from sales data over the six months to March.
Sydney's upper north shore region recently became the fifth of eight regions that now sat within the $1 million plus median house price range.
The other regions already with $1 million medians include the city and east, the lower north shore, the northern beaches, and the inner west which was included only last year.
The Leichhardt offering was among the 800 properties listed for auction in Sydney on the weekend, which APM suggest is nearly double the 422 homes auctioned over the same weekend last year. 
Sydney’s inner west hosted the most auctions with 124 followed by the city and east with 116, the south with 110, the upper north shore with 90, the lower north shore with 74 and the west with 71 homes listed to go under the hammer.
 
The Sydney auction market bounced back at the weekend recording its highest clearance rate for eight weeks. The preliminary Sydney rate of 79.3 percent was helped by the inner west with 83.0 percent.
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Rotting Leichhardt shack sells for just shy of $1 million

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The number of investment property loans in Australia has grown by 37% in the past four years against an increase of only 4% in the number of owner occupied loans, according to Roy Morgan Research.
The Roy Morgan Research Consumer Single Source surveys approximately 50,000 people per year. The survey has found that in 2010, 954,000 Australians aged over 18 had an investment property loan. In 2014, an estimated 1.31 million Australians held a loan for an investment property. Over the same period of time, the number of Australians with an owner-occupied loan increased just 4%, from 4.66 million to 4.83 million.
Australians aged between 35 and 64 were the key drivers of the increase in investment property loans, accounting for 78% of the increase. According to Roy Morgan Research, 11.9% of Australians between the ages of 50 and 64 now hold an investment property loan, while 11.3% of 35 to 49 year olds have a loan out for their investment property.
Over the past four years, there has also been an increase in the number of Australians aged 50 and over who have a loan out on their home. The proportion of Australians between 50 and 64 years old who hold a home loan on their primary residence increased from 31.6% to 34% from 2010 to 2014. The number of under-35s with an owner-occupier home loan decreased over the same time period.
According to Norman Morris, industry communications director of Roy Morgan Research, government policy and the economy will be major factors in people’s decision to invest or take out a home loan.
“Older Australians will face the prospect of cuts to pensions, and with the proposal for the pension age being increased to 70, this could impact the investment property market,” he says.
“Younger Australians may continue to find it difficult to enter the property market either for investment or owner-occupied because for both types they are competing with more cashed-up older property buyers.
“The future of negative gearing, increased property investment by self-managed super funds and interest rates are some of the factors likely to play an important role in the attractiveness of borrowing for investment property in the future.” 
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