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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<img src="/images/2014/05/19/diston-profile.jpg" alt="" style="float: right;">
Agent: Brett Diston
Position: Director 
Agency: Ray White Commercial 
Office location: Manningham (Melbourne)
How long have you been in the industry? 
10 years
What’s happening in the area you specialise in?
We are achieving great results in the eastern corridor with the amount of infrastructure being implemented and the hunger for strong performing assets.
Describe the most interesting property you have sold or leased
Every property is different and needs to be analysed individually. However, more recently I have had the opportunity to list and sell a number of petrol station sites and businesses which has been very engaging for me to understand the depth of the businesses in finer detail.
What are the ingredients to being successful in your job?
Honesty and giving sound advice, continue to add value to their asset and increase the net worth.
What aspects of your role do you enjoy the most?
Helping people to turn their underperforming assets into thriving investments which enables the client to have more options around their financial future. This is a very rewarding role that I am able to play.
Where would invest a spare $750,000?
I would look at all aspects of real estate whether it be residential, commercial or development sites, as long as I could foresee the value add potential.
Which football team do you support?
Essendon
What’s your favourite app or techno gadget? 
I have found the iPad mini to be extremely useful for both professional and personal use given the amount of applications available that relate to both.
How do you use social media? 
<a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/brett-diston/57/826/467" target="_blank">LinkedIn</a> is the only one I use professionally. I leave Facebook for personal use.
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po-LsXgBTHBmX

In profile: Ray White Commercial's director, Brett Diston

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Congratulations — you’re having a baby! Your head will be full of plans for medical check ups, baby names, cots and prams.
In the midst of all the excitement, there’s one issue many expectant parents overlook. If you’re taking leave from paid employment to be with your child, how will this affect your finances? Will you be able to afford your mortgage and other living expenses, or will you need to reshuffle the deckchairs?
All too often, parents leave these considerations until after the baby is born, their income is significantly lower, and they’re struggling to meet their commitments.
That’s why, after you’ve called your family and friends to break the good news, it’s important to contact your lender, broker or financial adviser and put plans in place to ensure you can fund your new lifestyle.
<blockquote>
All too often, parents leave these considerations until after the baby is born, their income is significantly lower, and they’re struggling to meet their commitments.
</blockquote>
If you have a mortgage and think your finances may be stretched, speak with your adviser about reducing your repayment amount. It’s particularly important to do this well ahead of your baby’s birth, because — regardless of whether you’re varying the terms of an existing loan or changing to a different one — lenders use a ‘snapshot’ approach when assessing your application.
This means you must present yourself and your finances in the best possible light — which is why the best time to apply is when you’re still earning the maximum possible income, not after the birth when your income has dropped substantially. The last thing you need on top of sleep deprivation and wet nappies is to be forced back to work early because of financial pressure!
There are several ways to reduce your repayment amount.
Extend your loan term.
Let’s say you have 23 years left on a 30-year principal and interest loan of $300,000 at the standard variable rate of 5.9%. Your minimum monthly repayment will be $1,989. By extending your loan term back to 30 years, the amount would drop to $1,779.
Change from principal and interest to interest only.
Loans for owner occupiers are usually structured so that you pay off a small amount of principal alongside the interest. This helps reduce your loan balance faster than if paying interest alone. However, when your income drops after having a child, changing to interest only can ease the squeeze. Using the example above, the borrower’s new repayment would be $1,475 — a saving of a further $304 per month.
Renegotiate your interest rate.
The home loan market is constantly changing so if you’ve had your loan for more than two years, there may be a better option out there. For example, many lenders will offer a discount of 0.7% or more off the standard variable rate.
By extending their loan term, changing to to interest only and negotiating a discounted rate, our $300,000 borrower will pay $1,300 per month — freeing up a massive $689 to help meet expenses while their income is reduced.
Find your safety net.
Make sure your loan includes a redraw facility. If your property has increased substantially in value since you bought it and/or you’ve made extra repayments, a redraw facility can help you access these funds. Alternatively, you may be able to establish a line of credit, enabling you to draw on some of your equity to fund living expenses if required.
By planning your property and loan commitments well ahead of time, you can stop worrying about your finances and concentrate on something far more important — your new son or daughter.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
This article was first published on Property Observer in November 2013. 
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marmstrong-sd3emVLPPb

How to stop your bundle of joy burning a hole in your pocket

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In the middle of articles about Tinder, student actors, Asperger's Syndrome and book reviews an article called 'Gen rent' jumped out at me. I was reading Issue Two of Catalyst, the RMIT student magazine and I began reading with enthusiasm.
It discusses Sarah (her name "changed for privacy reasons"), a Gen Y who has purchased a unit and lives with her parents while repaying the bank and renting the property out.
Later in the article AHURI director Wendy Stone discusses that there's no typical way of becoming a home owner, and points to it being time for "lateral solutions to housing issues" and adaptive behaviours, whereby siblings and friends purchase together. She notes that "... young people should definitely think creatively with each other" on how to get into property. An interesting discussion itself.
And then writer Alan Wedon gives the floor to "Sarah", where the following is written:
She also says Gen Y is being pushed out of home ownership by Baby Boomers, who have a greater capacity than in previous decades to invest in private home ownership - driving house prices up even further.
"It's a wicked problem really," she says. "Because as well as competing against investors, wealthy retirees and other first-home buyers for housing, members of Gen Y are also forced into competing with each other in the private rental sector.
Anger, it may appear to those new to the debate, is rampant among FHBs. Affordability is a numbers issue, and one discussed heavily on Property Observer. But attitude is another issue entirely, and the attitude from those who are interested in getting into the market is fascinating.
A comment in mX had me saving it a while back (pictured below), and it reflected the above sentiments almost to the word.
<img src="/images/2014/04/10/jd-tear-out-youngergen-april-10-two.png" alt="">
Source: mX - Vent your spleen 
I'm assuming, hoping, that the above is satire. But if we're at the point where someone can satirize in a non-property related publication about the anger and blame coming from first home buyers, then it's worth noting.
With the news that the Abbott government has <a href="/expert-insights/investing/first-home-saver-accounts-scrapped-what-now">scrapped the First Home Saver Accounts scheme</a> in its first federal budget, many account holders have understandably been left confused about what will happen to their money.
But should we be blaming the older generations and investors for ruthlessly pushing up prices? And, shoe on the other foot, should we be slamming first home buyers for being too picky and swanning off on European holidays one time too many?
Blaming other people is completely human and, for that reason, spills into property. In the same way that some like to violently blame foreign investors for facing off against the battlers, which I have not been able to see myself at a single auction, the younger generation likes to blame the older generation for pushing up house prices. And the older generations like to blame the younger generations for being far too selective.
As Terry Ryder has previously written for us, and discussed with myself, <a href="/expert-insights/investing/the-problem-with-first-home-buyers-isnt-affordability-its-expectations">the 'real' questions around first home buyers are not being asked</a>.
He says that the real questions we should be asking include the following:
<ul>
<li>Why do you think you can't afford to buy? 
</li>
<li>Have you tried to buy? 
</li>
<li>Where have you looked? 
</li>
<li>Are you willing to compromise to get into the market?</li>
</ul>
 
Compromise - the 'c' word that no one wants to hear. It relates not only to compromising on where and what you buy, but potentially also your lifestyle. Those who claim our parents never had to do these things are sorely mistaken. Speaking of the UK market, and then the Australian market, my parents tell stories of keeping the heating off in the coldest English winters and eating chilli-con-cabbage to afford their property as young 20-somethings. There's no shame in this, and I have huge respect for them for managing to raise us simultaneously. Whether or not you must compromise more now if you want to get into property is debatable, but the reality remains that if you're not born into a wealthy family (who are then willing to provide you funds) and if you don't immediately step into a high income earning role (if you ever get to this position) then compromise is going to be a requirement.
A conversation I had recently with someone looking to buy their first home so they could move out together, revealed that they were looking for an apartment within the inner ring of Melbourne, in a few choice desirable suburbs that they listed to me. They were not looking for something new, necessarily, but well-presented and sizable, preferably with a car space. Fair enough.
But then they were finding themselves quickly outbid by "older people" when they attended at auction. They expressed frustration with the process. I suggested that they look further out west and ignore Melbourne's city, suggesting that in parts of Melbourne's west (and we're talking past Rockbank) there are house and land packages for four-bedroom, two-bathroom houses on around 600 square metres of land for a sum amazingly less than that. Not to mention the established property market, where three-bedroom, one-bathroom houses for around the $200,000 to $300,000 bracket.
The reasons for saying "no" without even a Google, was not due to the slow capital growth prospects, which are of course an issue, but because the area is "too far out" and they "like" the area they're look at.
I had a painfully similar conversation with someone who was looking to buy in the Eastern suburbs, but was then told that Melbourne's west was too far from their friends and family, and from work. It's 35 to 45 minutes on one train from Southern Cross Station. I happen to live in one of these areas, and do so because it's cheaper - not because it's my dream area to live in.
This, to me, sounds as though it answers those clarification questions.
But it doesn't mean Generation Y is full of whingers, or picky - and, indeed, not all of them even want to own property - much has been said on the demographic shift we're seeing. Plenty of those who are prospective buyers are completely prepared to "wait it out" until they find the property that suits them. Others will eventually consider suburbs further out, or they'll buy something smaller that needs doing up. Or, they might not want to rent in the first place.
I discussed with Charles Tarbey, the chairman of Century 21, his first property. He told me it was a run-down property in a rough area of Sydney's west that still has a bit of a bad reputation today. It did grow in value, he sold it, and he used the profits to help open his first real estate agency.
Those who say buying a first home isn't hard are mistaken - a deposit even on a "cheapie" property is not an easy achievement. However, we do have an issue on both sides of the fence about blaming other generations for their own individual problems. It's far too easy to ignore the reality - that for those who are not wealthy, it has never been easy to purchase a first home and it will require a great deal of compromise one way or another.
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jduke-EHk3XBmHkn

Letter from the editor: FHBs, if you're not wealthy you will have to compromise

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With the news that the Abbott government has <a href="/expert-insights/investing/first-home-saver-accounts-scrapped-what-now">scrapped the First Home Saver Accounts scheme</a> in its first federal budget, many account holders have been left confused about what will happen to their money.
Under the scheme, the government made a co-contribution of up to $1,020 on the first $6000 savers deposited each year. Account holders were also entitled to tax concessions but had restrictions on when they could access their money, which was only to be used for a payment on their first home. Before the budget changes, if savers wanted to withdraw the money in their First Home Saver Account, they had to meet a number of requirements.
Firstly, they had to contribute at least $1,000 a year to the account for at least four (non-consecutive) years, and they had to hold the account for at least four years. Even then, the money could only be withdrawn to pay for a home, unless you wanted to wait until you were 60 years old to access the money directly.
While the proposed budget changes have not been passed by Parliament, it doesn’t look likely that the Opposition will attempt to save the scheme.
If you hold a First Home Saver Account or were thinking of opening one, here’s what you need to know.
<ol>
<li>Accounts opened after 7:30pm on Tuesday 13 May will not be entitled to the government co-contribution or tax concessions. 
</li>
<li>Government co-contributions will now only be earned on deposits made until 1 July 2014. You will still receive your maximum co-contribution of $1,020 if you deposit $6000 for the 2013-14 year, but any deposits made after 1 July this year will not receive a co-contribution. 
</li>
<li>No more tax and social security concessions after 1 July 2015. For the 2013-14 and 2014-15 years any interest you earn on your accounts will be taxed at 15%, but after that, you will be taxed at the usual rate for your earnings. 
</li>
<li>Restrictions on withdrawals will be removed after 1 July 2015. First home savers accounts will be totally abolished on 1 July 2015. Treasurer Joe Hockey said, "As of 1 July 2015, account holders will be able to withdraw their account balances without restriction. Once the First Home Saver Accounts scheme is abolished from 1 July 2015, these accounts will be treated like any other account held with a relevant provider." This seems to mean that as of 1 July 2015, you can use the money in your First Home Saver Account for any purpose you like.
</li>
</ol>
To get more clarity on the status of your First Home Saver Account, contact your bank. 
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jrichardson-uRX5hFdKfN

Four things you must know about the axed First Home Saver Accounts

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Australia sits firmly in the property overvalued basket, according to the latest Knight Frank international residential property report.
Not as overpriced as Norway and Canada.
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<a href="https://my.knightfrank.com/research-reports/global-opportunites-report.aspx" target="_blank">The Knight Frank Global Opportunities report</a> compared mainstream housing markets across 27 countries, assessing how prices are performing in relation to rents and incomes.
Australian homes ranked fifth among the world's most ''overvalued'' housing markets.
Knight Frank suggest a property market was correctly valued when local incomes are enough to buy or rent an average property.
The axis at 0 represents a position where a market is valued in line with its long-term average. 
A column above the line shows there is an imbalance with house prices surging ahead of rents or incomes.
A column close to the line suggests the market is balanced, and displaying a sustainable level of growth.
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A column below the line signals the market is undervalued with rental and/or income growth outpacing house prices.
At present, 15 of the 27 countries Knight Frank tracked are above their long-term average both in terms of price-to-rent as well as price-to-income ratios, the Knight Frank international residential researcher Kate Everett-Allen said.
"Interestingly, if the same exercise had been carried out at the height of the financial crisis in 2008 more than 20 countries would have been in this bracket," she noted.
Those markets in which prices and rents look to be balanced include the United States, Italy, Austria, Iceland and Luxembourg.
Countries such as Greece, Spain, and Portugal where prices are still falling are likely to end up on the right of the chart as the gaps between the respective indicators narrow.
Germany and Japan, having missed out on the double-digit price growth observed in many developed economies in the early 2000’s remain firmly in the ‘undervalued’ camp.
Belgium, Norway and Canada, where prices are still rising, represent those countries most at risk of a price correction, particularly if mortgage rates increase or incomes start 
</div>
</div>
</div>
</div>
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</div>
<div>
<div>
"With the global economy displaying green shoots, buyers – both in mainstream housing markets and second home hotspots – are looking closely at which markets offer real value," the Knight Frank international residential researcher Kate Everett-Allen said.
</div>
</div>
<div>
<div>
“The upturn in the global economy, albeit gradual, has meant for some home ownership, or even the acquisition of a second home, is back on the agenda again for the first time since 2008.”
</div>
<div>
Already in 2014 there has been a steady stream of positive indicators for global housing markets, she noted.
Lending criteria is being relaxed, interest rates in Europe, the US and the UK look set to remain at historical lows at least until 2015, employment is picking up and buyer confidence is strengthening.
"This upturn in the global economy, albeit gradual, has meant for some home ownership, or even the acquisition of a second home, is back on the agenda again for the first time since 2008 across Europe and the Caribbean. 
"From currency fluctuations to purchase costs, from tax hikes to oversupplied markets; we look at the potential risks (upside and downside) that deserve close consideration," she added. 
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jchancellor-FAypfDUnLy

Australian residential housing overpriced: Knight Frank

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Personal insurance isn’t something that property investors should ignore, warns EPS Property Search director Patrick Bright.
Australia is one of the most underinsured developed countries in the world, Bright said, and many investors are failing to adequately protect themselves.
“Before you sign a contract to purchase a property you should have the appropriate insurances in place, at the very least income protection,” said Bright.
“You not only want to protect your 10% deposit in case something unforeseen happens between exchange and settlement but you want to know that you can complete settlement.”
He said that one of the quickest ways to lose your home is through unpredictable occurrences that stop your ability to earn. Many property investors consider burglary, tenant damage or natural disaster, but then fail to consider the possibility of dying or getting ill.
Pointing to an Australian and New Zealand Institute of Insurance and Finance study on the Victorian Black Saturday bushfires, he noted that for 171 people who died – less than $1 million was paid out in life insurance.
“You need to insure the person who is paying for the asset rather than just insuring the asset itself,” he explains.
“Ask yourself how your family will manage if one of the breadwinners becomes sick or dies? Do you have the necessary income protection and life insurances in place to protect your assets and allow your family to continue their quality of life rather than being forced to sell the family home?”
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Investor warning: Don’t ignore your personal insurance

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Home buyers, investors and renovators – it’s not always easy to find the right expert for any property project. When it comes to selecting a builder, you really need to be able to trust them.
Allworth Homes’ managing director Stephen Thompson said that as a builder spends several months working on your home, you need to have confidence in them.
“One thing is for sure, the building process starts long before any concrete is poured.  That’s why it’s important to do your homework. These same rules apply when shopping around for your renovation contractors,” said Thompson.
Here are five quick tips that can help guide you through the selection of builder:
<ol>
<li>
Thoroughly look at the building and construction quality.  You don’t just want your house built, you want it well built. Look for quality finishes, specification and attention to detail when you visit the display homes. Look at the reputation of the builder’s suppliers - are they brands with well-earned reputations for quality? Also ask for customer testimonials and references. 
</li>
<li>
Price is a factor but not because it’s the lowest or highest. Look for a detailed explanation of price and inclusions in the cost when comparing builders. 
</li>
<li>
Consider the resale of your home. Will the design earn you money when you decide to sell it in the future? Carefully consider your completed costs. On the resale market, similar plans fetch similar prices, no matter how much you’ve spent compared to another. So think about this carefully. 
</li>
<li>
Don’t be fooled by the over the top extravagant display homes. Lots of display homes are dressed and designed with all the style trimmings in mind. Look beyond that and analyse what’s practical for your budget. Consider the floor plan and flow of the house to see if it’s the right fit for you and your family. If you are looking around display homes, then <a href="/expert-insights/building/how-to-navigate-a-house-and-land-display-home-launch">here's a guide to keeping your head above water</a>. 
</li>
<li>
Check which areas the builder will build. This is the question you should ask first. There would be nothing worse than falling in love with that perfect design, only to find out that the builder won’t build in your area.</li>
</ol>
Source: Allworth Homes
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Five tips for choosing the best builder

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Hindmarsh’s $41 million 18-level  residential tower is undergoing construction, with a crane currently visible on the Sydney CBD site.
The development, <a href="https://aspiresydney.com.au/index.php" target="_blank">Aspire</a>, is in the southern part of the CBD, near Hyde Park, and is being built by Hindmarsh Construction. It is almost 100% sold.
Hindmarsh NSW state manager development, Steve Laffey, said that it is an important addition to their Sydney portfolio.
“The project has been successful in appealing to buyers at a time when demand for quality apartments in the CBD remains robust,” said Laffey. 
Including 48 apartments, it will include a podium level to Alberta Street. The two- and three-bedroom apartments, of which the majority are north-facing, have been selling from $840,000. They come with secure parking.
It is set for completion in December 2014.
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Construction progressing on $41 million Sydney CBD Aspire

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Housing affordability for first home buyers is a perpetually hot topic. Is there a problem with housing supply, or home buyer expectations? Has investor activity ruined the game for young buyers, or does Gen Y just need to learn how to save? 
While a lot of property commentators have something to say about the first home buyers issue, most bought their first home years ago. So Property Observer took the question to the experts: What would you purchase on a first home buyer’s budget?
To get an idea of what a typical first home buyer would have to work with, we took the Australian Bureau of Statistics’ average first home buyer loan size for March and added a 10% deposit. We arrived at the following budgets for our observers:
New South Wales: $352,880
Victoria: $325,710
Queensland: $317,680
South Australia: $275,440
Western Australia: $364,980
Tasmania: $233,420
Northern Territory: $377,200
Australian Capital Territory: $329,560 
Using the above price guides, four of our Observers have suggested properties on the market that they would purchase if they were first home buyers.
Read on to see what Hotspotting.com.au’s Terry Ryder, the Real Estate Institute of Western Australia’s David Airey, Allen Wargent’s Pete Wargent and iProperty Plan’s Mark Armstrong picked.
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TERRY RYDER, FOUNDER OF HOTSPOTTING.COM.AU<img src="/images/authors/fullbody/Terry-Ryder.png" alt="" style="float: right;">
Terry Ryder says he would go for <a href="https://www.realestate.com.au/property-house-qld-edens+landing-116999987" target="_blank">this three bedroom home</a> (pictured below) at 16 Sandra-Ann Drive in <a href="/news">Edens Landing</a>, Queensland.
Listed at $329,000, it’s priced just a touch over our estimated average spend for a first home in Queensland of $317,000.
<img src="/images/2014/05/21/edens-landing-may-21-breakotu.jpg" alt="">
Ryder provided the following reasons for his pick:
<ul>
<li>Location in growth corridor between Brisbane and the Gold Coast.</li>
<li>Walk to train station, with links to Brisbane CBD and to the Gold Coast.</li>
<li>Easy access to Pacific Motorway and Logan Motorway.</li>
<li>Quiet, private residential area with solid standard of brick-and-tile housing.</li>
<li>Lots of choices of schools in the area.</li>
<li>Close to Beenleigh town centre.</li>
<li>Close to retail, including a new Bunnings and a new Woolworths.</li>
<li>Plenty of parkland and recreational choices in the area.</li>
<li>Area has a solid capital growth record, with strong rents and low vacancies.</li>
<li>House itself is low-maintenance with an entertainment area at the back (assuming we can trust the agents' blurb).</li>
</ul>
<img src="/images/authors/fullbody/Mark-Armstrong.png" alt="" style="float: right;">MARK ARMSTRONG, DIRECTOR OF iPROPERTY PLAN 
For a Victorian property, iProperty Plan director Mark Armstrong picked a <a href="https://www.realestate.com.au/property-apartment-vic-thornbury-116867983" target="_blank">top floor apartment</a> in Melbourne’s <a href="/news">Thornbury</a>, pictured below.
The one bedroom, one bathroom apartment tucked away from Kemp Street has a private balcony and a secure parking.
<img src="/images/2014/05/21/2.jpg" alt="">
Armstrong says that the picked the property “because first home buyers need to think like first home investors and look for property that will have strong capital growth potential."
“This property is within 10 kilometres of Melbourne and is walking distance to shops, transport, bars/cafes and parkland. The property is elevated and has plenty of natural light and privacy and would provide comfortable accommodation.”
Another one bedroom, one bathroom apartment in Thornbury <a href="https://www.realestate.com.au/property-apartment-vic-thornbury-116240195" target="_blank">sold last month for $310,000</a> (pictured below). 
<img src="/images/2014/05/21/3.jpg" alt="">
Read on for more first home buyer picks from our Observers on the next page.
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<img src="/images/authors/fullbody/David-Airey%2023.png" alt="" style="float: right;"> DAVID AIREY, PRESIDENT OF THE REAL ESTATE INSTITUTE OF WESTERN AUSTRALIA
Working with a budget of $364,980, Airey chose a <a href="https://www.realestateview.com.au/Real-Estate/15-moat-street-mandurah/Property-Details-buy-residential-7120661" target="_blank">three bedroom, one bathroom home in Perth’s Mandurah</a>, pictured below.
<img src="/images/2014/05/21/4.jpg" alt="">
“This property offers excellent value and lifestyle for a first time buyer,” says Airey.
“Although <a href="/news">Mandurah</a> is 80 kilometres from the Perth CBD, it has good freeway access and a fast commutable train service. Situated right in the heart of this seaside village, this property is just a short walk to the marina, shops, pubs, restaurant and cafe strip.
“At more than 800square metres, the block is perfect for raising a young family, growing some veggies or having a dog. It also offers good long-term capital growth. Although zoned as R20, there is plenty of space to add extra rooms in future or create an alfresco area out the back for entertaining.
“Mandurah is a city of 77,000 people and serviced with good schools, recreation and medical facilities. And all of this comes with a country lifestyle, a huge estuary for fishing and crabbing and cool ocean breezes in summer. A similar property on Perth’s northern beaches would be twice the price.
“The average annual growth rate in Mandurah over the last five years has been 0.0 per cent, as it struggled to recover from the market slump and GFC in 2008. However, REIWA data show that it achieved 3.4% growth in the year to December 2013, while more recent REIWA data indicates 7% growth for the March quarter this year. With recovery on the way, it’s a good time buy.”
<img src="/images/authors/fullbody/Pete-Wargent.png" alt="" style="float: right;">PETE WARGENT, DIRECTOR OF ALLENWARGENT
Pete Wargent recommended two <a href="/news">Blacktown</a> properties, to first home buyers, noting that the average first timer budget in Sydney is a little higher than the New South Wales average of $352,880.
<a href="https://www.realestateview.com.au/Real-Estate/blacktown/Property-Details-buy-residential-7073129" target="_blank">This two bedroom single level villa</a>, pictured below, is priced from $350,000.
<img src="/images/2014/05/21/5.jpg" alt="">
Blacktown is located 36 minutes by train from the city. “If the budget is tight,” says Wargent, “drop down a notch.” He suggests this single storey home at <a href="https://www.realestateview.com.au/Real-Estate/43a-177a-reservoir-road-blacktown/Property-Details-buy-residential-6933231" target="_blank">43A/177A Reservoir Road as a cheaper alternative</a> (pictured below).
<img src="/images/2014/05/21/6.jpg" alt="">
“For $300,000 or under, look for a modern two bedroom unit,” he says. For those who are after something within 20 minutes of the CBD, Wargent would pick a property close to <a href="/news">Campsie</a> train station, “with low strata fees on a quiet, pleasant, leafy street.”
“Entry prices in Campsie range from $230,000 for a quality studio apartment up to $380,000 plus for a two-bedder,” says Wargent.
“A short train ride to the city, Campsie has a buzzing central strip, is gentrifying apace and within a few years will be the new Marrickville.
“People scoff when you make such assertions but that’s a recurring theme in real estate. They said that the suburbs in London’s east end would never gentrify.
“Even half a decade ago people told me when I’d bought in in the inner west in <a href="/news">Erskineville</a> - three kilometres from Sydney CBD - the suburb would be a “ghetto”, and years before that when I bought in <a href="/news">Pyrmont</a>, which is adjacent to the city, that suburb would be a “future slum”.
"Wrong, and I believe they’ll be wrong again about Campsie.”
Our Observers came up with stand alone houses, apartments, and semi-detached homes as close as seven kilometres and up to 72 kilometres away from the capital city centres for their first home buyer picks. What would you buy on a first home buyer's budget?
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Exclusive: First home buyer picks from the experts

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The country’s housing market remains a source of economic strength, according to the Reserve Bank of Australia’s (RBA) May board meeting minutes.
Indicating strong growth in housing investment in the first half of 2014, dwelling approvals and commencements remain at high levels despite a recent decline. The RBA noted that housing price inflation had eased in past months from its recent “rapid pace”, citing softening auction clearance rates and stabilising housing loan approval numbers.
Demand for both established and new housing remains strong according to other indicators, including turnover, first home owner grants and loan approvals.
The board noted a lower than expected inflation outcome for the March quarter. This followed on from a “surprisingly high” quarterly inflation figure for December of 0.8%. Underlying inflation in the March quarter was around 2.5-2.75% in year-end terms. The board's forecast for underlying inflation remained consistent.
According to the RBA, the price increase for tradable goods was consistent with the depreciation of the exchange rate over the past year. Price inflation for non-tradables had softened to 3% in year-ended terms, markedly down from the 4% average of the past decade. The board cited declining wage growth over the preceding two years as a key factor in the decline.
Following late 2013’s pick-up in economic activity, indicators for labour market conditions showed some improvement. The unemployment rate was down for March, though it is unclear whether this is due to monthly volatility. However the board also noted strengthening employment growth and an apparently stabilising participation rate over the past few months.
Driven by strong export growth, economic activity increased over the previous six months. Economic growth is unlikely to continue at the same pace over the next few quarters, given that export growth is not expected to remain at the same high levels.
Growth in retail sales seems to have stabilised following strong increases at the beginning of the year. Household consumption remains supported by low interest rates and rising housing prices, with consumer sentiment staying around long-run average levels.
According to a number of surveys, business sentiment remains at average levels after climbing from mid-2013 lows. The board noted that business investment in construction could pick up, despite declines in non-residential building approvals in recent months.
Gross Domestic Product (GDP) growth over 2014-2015 is expected to be slightly below trend, given the decline in mining investment and planned budgetary tightening. However, economic growth is expected to “pick up to an above-trend pace” in 2015-16 due to the contributions of non-mining business investment and liquefied natural gas exports.
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