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

<html><body>
Last week, Joe Hockey stood up in front of Parliament and on behalf of the Abbot administration, announced: ''The age of entitlement is over. It has to be replaced, not with the age of austerity, but with an age of opportunity!'' 
The former multi-millionaire banking and finance lawyer, husband to an investment banker, and owner of several premium land holdings (including a 200-hectare cattle farm in Malanda and mansions in Sydney), whose own ‘entitlements’ and that of his colleagues remain largely untouched, went on to address:
<ul>
<li>The single mother set to lose more than $,3000 per year;</li>
<li>The newly unemployed university graduate and retrenched worker, who must live with no income for six months (poverty) before claiming Newstart (forgone benefits of more than $7,000) – yet still have to service their rent or mortgage;</li>
<li>The low wage family with kids, who will lose $6,000 a year once all changes are factored in;</li>
<li>The hospitals and schools  who lose their projected funding (on the rationale that they are state responsibilities, forcing an increase to GST – a regressive tax);</li>
<li>The bottom one-fifth of earners who will lose around 5% of their disposable income, compared to the top one-fifth, who will lose only 0.3% (modelling undertaken by <a href="https://www.smh.com.au/federal-politics/political-news/reshaping-welfare-are-we-entering-an-age-of-inequality-20140516-38fc9" target="_blank">NATSEM</a> who point out the burden of this budget, overwhelmingly falls upon people in the most precarious position);</li>
</ul>
.. justified by telling Australian public, that they are not “to be alarmed”, because it’s all “in the national interest”.
“The National Interest”
The “national interest” is an interesting term to use for a budget that has set about plucking the feathers of the poor - the low and middle-income earners, the numerous small businesses, the main productive sectors of our economy - whist avoiding any direct action to the assessed <a href="https://www.prosper.org.au/2014/05/15/budgeting-for-capital-gains/" target="_blank">$484 billion total increase</a> over 12 months in unearned capital gains (more correctly termed “economic rent”) stored in land holdings, according to the ABS.
Or laying a finger on the licensed resource monopolies, the mineral wealth of which increased by $56 billion in 2012-13 alone.
Does this sound fair to you?
The country we want
“It’s about the sort of country that we want to be, in the years and decades ahead. It's about the value we impart,” continued Hockey, who has requested that all complaints be directed to the former government – adopting the age-old habit of passing the buck. Yet, warnings were given well in advance of this “budget emergency” and the sensible and equitable reforms needed were laid out in the Henry tax review – which they ignored.
The “sort of country we want to live in the years and decades ahead”, is an apt question to ask – albeit, it should be directed at our children.
After all, it’s our children who are set to inherit this land and it’s their future the government is shaping. More importantly, it’s not one the Liberal administration should be dictating on our behalf, following the usual stream of failed ‘promises’ we are familiar with on all sides of politics.
No doubt, job security and housing affordability would come top of the list – both are interdependent and serve our most basic needs.  
Without land, or the ability to use it, rent it, or buy it, we’re unable to do, or produce anything.  We are by definition “poor”.
The accumulation of all our ‘stuff’ is due to the natural resources land bestows.
It is therefore no coincidence that in both religious and ancient mythology, the first job of man was to tend the land. 
Our relationship with land is truly unique.
The quality of its location and care of its produce is foundational to ourmost basic human and consumer needs.
Destroy the land, or prevent ready and affordable access to it, and you destroy a population. 
The consequence is as black and white as that - “pay the rent or leave.”  
And it is no surprise, that this budget ignored the role of land in its economic modelling – they have been ignoring it for years. 
It’s not included in the Consumer Price Index for example - the tool the RBA use to measure inflation and reflect the cost of living, despite land prices and the size of the loans needed to service them having an uncanny consistency of exceeding wage growth through the course of each cycle – at least for that of the average <a href="https://www.news.com.au/finance/money/mortgages-rise-faster-than-wages/story-e6frfmci-1226921791556" target="_blank">household</a> and income earner.
And it’s easy to lay the blame of inequality or the reduction of it, on income distribution alone. Either that or confuse it with other items of ‘wealth’ – as is the case in Thomas Piketty’s book <a href="https://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/067443000X" target="_blank">Capital in the 21st Century</a> (a subject I explored in part last <a href="https://catherinecashmore.com.au/wp/?p=506" target="_blank">week</a>).
These are items that are easy to hide in tax havens. You can’t do that with land.
But importantly, the politicians who delivered the budget, and the other “20%-ers”, will only feel a modest loss to their disposable income from the newly imposed ‘debt levy’. They will claw far more back in the increased value of their land holdings – particularly as we progress through the next phase of our cycle.
The Cause of Wealth inequality
This is the cause of wealth inequality – a lopsided economy, built on a $5.1 trillion housing market (over $4.1 trillion of which is land.)
<img src="/images/2014/05/19/cashmore-may-19-one.jpg" alt=""> 
<a href="https://www.macrobusiness.com.au/2014/03/deflating-australias-land-bubble/" target="_blank">Source</a>: MacroBusiness
It’s a subject overwhelmingly ignored, and yet shapes every other area of housing policy – due in part to the vested interests of <a href="https://www.smh.com.au/comment/even-i-am-shocked-by-icac-revelations-20140516-zreh2" target="_blank">wealthy property tycoons</a> who lobby our politicians to maintain the status quo. As well as politicians who don’t want to see their investments affected in anyway.
The corruption of economics, however, is not unique to Australia. It began soon after Henry George, in 1879, took the world by storm, when he successfully communicated the root and leading indicator of the massive boom/bust cycles (although he was not the first to do so) – that being land.
His farsighted solution, whilst understanding the importance of private ownership, clearly demonstrated that recessions/depressions on a large scale, could be avoided (not by banking reform alone). But if the natural revenue from the economic rent was recycled, to provide and fund community facilities – along with the other government services we require.
This is because it removes excessive and unwanted speculation from the market, assists home buyers, utilises land effectively, improves productivity with lower land prices and can assist in increasing wages, which would help the workers – not the land hoarders.
He influenced the likes of;
David Lloyd George in England, Leo Tolstoy, Billy Hughes in Australia, Rolland O'Regan in New Zealand, Chaim Weizmann in Israel, Francisco Madero in Mexico, and many others including, Winston Churchill, Milton Friedman and Albert Einstein (to name but a very few). He quite simply took the political world by storm. 
The people it didn’t impress however, were the large landowners and financiers, the political lobbyists, who set about a on a well-constructed and amply funded mission to change the course of economic education to one that moved away from the classical models which recognised the role of land and were advocating George’s policies.
“The Corruption of Economics”
Mason Gaffney and Fred Harrison chart the full story in their book <a href="https://www.propertyobserver.com.au/https://www.amazon.com/The-Corruption-Economics-Georgist-Paradigm/dp/0856832448" target="_blank">The Corruption of Economics.</a>
They show how the three elements of production—land (and the resources it bestows), labour, and capital (that of the ‘industrial’ kind) were gradually reduced to two. Labour and capital – land being “lumped in” with the latter.
Capital was now no longer ‘man made’ the result of hard work and genuine innovation. 
Instead, it included the stuff of nature – the very elements we need to live – allowing the increasing gains from any natural appreciation of land value (the expected result of every collective improvement we make to society) to be pocketed, rather than shared through a proportional system of land rent on the unimproved value alone.
It simply implied that the home-owner pay directly for the facilities they use – the amenities that give their land its value – which in the main, removes the need for other taxes which are easy to avoid – like income tax for example. 
That sounds fair doesn’t it?
All taxation is at the expense of Rent
As the classical economists David Ricardo and Adam Smith proved, all taxation is at the expense of Rrent.
<img src="/images/2014/05/19/cashmore-may-19-two.jpg" alt="">
<a href="https://www.macrobusiness.com.au/2014/03/deflating-australias-land-bubble/">Source</a>: MacroBusiness
In other words, any tax withholdings or exemptions given to land holders, result in an increase of “economic rent” available to be capitalised (at the current interest rate) into the price. 
This raises the cost of land – yet does little to address the needs of our children, who must take on an every greater proportion of private debt to join in.
Consequences
The consequence results in what the current budget suggests. Collecting taxes to offset the items we require from other areas, wages and productivity, the burden of which falls overwhelmingly on the poor  yet advantages those at the top.
Is this fair?
Well this is what the current (and previous) administrations have been enforcing and advocating for years. 
Promoted widely by our nice ‘balanced’ property commentators who teach how to get rich on capital gains (as if it’s hard), without stressing the consequence and burden to society and the economy as a whole.
Think about that when you’re browsing the property investment isle in your local bookshop.
Think about it.
Who benefits?
The progress of genuine innovation
Thankfully with the birth of genuine innovation – the internet - we finally have the beginnings of a global revolt against mainstream economic <a href="https://www.theguardian.com/education/2014/may/04/economics-students-overhaul-subject-teaching" title="More from the Guardian on Teaching">teachings</a> which cannot identify boom/bust cycles and crashes, because they refuse to see land.
Not to mention their completely false understanding of money creation and debt and its role in banking - highlighted consistently by Steve Keen who is about to head the first “progressive” department of economic teaching at <a href="https://www.debtdeflation.com/blogs/2014/05/08/for-a-pluralist-education-come-to-kingston/" target="_blank">Kingston University in London</a>. Our loss.
Importantly, economic students are starting to recognise their degrees are hardly worth the paper they’re written on (something else to ponder when you read the many “market updates” from our mainstream economists).
Change
Changing the system is not easy when we have built a society dependent on housing wealth to fund retirement.
It requires a slow transition (such as that set out in the Henry Tax review) to gradually phase out tax subsidies such as negative gearing – offset by the supply reforms Leith Van Onselen, <a href="https://www.performanceurbanplanning.org/" target="_blank">Hugh Pavletich</a>, Senator <a href="https://www.macrobusiness.com.au/2014/04/bob-day-slams-australias-housing-policy-failure/" target="_blank">Bob Day</a> and many others have been advocating for years.
But if you want a “fair go” country, one that avoids volatile boom/bust cycles and instead of promoting wealth inequality provides economic prosperity along with the best we can leave to our children, then change we must.
And it starts with us. 
Feature picture courtesy of Twitter.
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catherinecashmore-6LXia3pPQj

The real consequences of the budget

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For the uninitiated, an auction can be an overwhelming experience.
There are a lot of auction tactics and tricks floating around – ask one person for their tips and the next will give you the opposite advice. Here are four things to keep an eye out for at an auction that could play to your advantage.
<ol>
<li>
The competition  The auctioneer is the natural ring leader of the show, so it’s tempting to cast your eye towards them. But when at an auction, keep one eye on the other bidders. They’re your competition, so it’s what they do that really counts. 
</li>
<li>
The numbers If you arrive at an auction and there’s only one other couple and the next door neighbours who have turned up for a sticky beak, you might be in luck. Fewer bidders may mean that there’s not much interest in the property which could give you the opportunity to snap it up. A big turn out might signal some tough competition, but it could just point to observational interest in the property, especially in the case of unique or trophy homes. 
</li>
<li>
The “on the market” announcement This one’s a case of ears over eyes. Under quoting by agents means that you might approach an auction underestimating the price that sellers are willing to accept. <a href="/expert-insights/assessing-scott-papes-12-tips-for-auction-bidding-and-listings">Both Jonathan Chancellor and Barefoot Investor Scott Pape agree</a> that the “on the market” announcement is the pivotal moment in any auction. 
</li>
<li>
The “knockout” bid One of the keys to bidding well at auction is recognising your competitors’ tactics. Don’t be intimidated if another bidder suddenly jumps up the price when bidding has been slow. Remember your limit and don’t be afraid to bid conservatively. Olivier Stier of buyers agency OH Property group <a href="/expert-insights/buying/twelve-tips-for-bidding-at-property-auctions">recommends setting your limit well before the auction.</a>  "This price should be set the night before the auction and should be entirely independent of the likely level of competition on auction day or what other buyers may possibly bid," he says. "These are things which you have no control over and should not influence the price you are prepared to pay. "
</li>
</ol>
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jrichardson-uRX5hFdKfN

Four things to look out for at an auction

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Canberra’s units sat at a median price of $412,500 for the quarter to April 30, according to RP Data.
Attracting gross rental yields of 5.1%, the value of units in the capital city dropped 0.1% for the month. The city also <a href="/news/act/howard-government-era-canberra-property-price-falls-tipped-in-abbott-budget-fallout">recorded the weakest growth in dwelling values</a> of any capital city in the three month period. 
Property Observer looks at the city’s recent sales to see what $412,500 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-act-braddon-115933851" target="_blank">1/3 FAWKNER STREET, BRADDON </a>
<h1><img src="/images/2014/05/15/1.jpg" alt=""></h1>
A two bedroom, one bathroom apartment sold in March for $412,500. The ground floor unit in the  On Q complex was designed by Architects Ring &amp; Associates, the Koundouris Group, Dezign Team, Cia Landscapes &amp; Design and Archertec Interiors. On Q is situated among many other low rise apartments and townhouses on the tree lined Fawkner Street. 
Price: $412,500
Bedrooms: two
Drive to CBD: five minutes
<a href="https://www.realestate.com.au/property-apartment-act-braddon-115933851" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-act-barton-115964203" target="_blank">29/41 BLACKALL STREET, BARTON</a> <img src="/images/2014/05/15/2.jpg" alt=""> This one bedroom, third floor apartment is located on the edge of Canberra’s Parliamentary Triangle. It sold for $410,000 earlier this year. Inside, there are granite kitchen bench tops and a balcony that overlooks the complex’s communal gardens. Body corporate fees will set the owners back $4,110 per year. Price: $410,000
Bedrooms: one
Drive to CBD: six minutes
 
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-act-bruce-114830199" target="_blank">125/8 BAUDINETTE CIRCUIT, BRUCE <img src="/images/2014/05/15/3.jpg" alt=""> </a>Vendors got $427,000 for this Bruce apartment. The unit has two bedrooms and three bathrooms on 104 square metres of indoor floor space, which opens up onto a private outdoor dining area. The air conditioned apartment comes with two secure parking spaces and access to a pool. The buyers can expect to pay $852 in land rates this year. Price: $427,000
Bedrooms: Two
Drive to CBD: 12 minutes
 
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-act-watson-115860799" target="_blank">9/25 ASPINALL STREET, WATSON <img src="/images/2014/05/15/4.jpg" alt=""> </a> Sold for $410,000 in February after 86 days on the market, this three bedroom, two bathroom apartment is located in the North Canberra district of Watson. With two outdoor balconies, the unit is surrounded by greenery near the Mount Majura nature reserve. The vendors purchased the home in late 2005 for $290,000.  
Price: $410,000
Bedrooms: Three
Drive to CBD: 11 minutes
</li>
</ol>
<h1> </h1>
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What can you buy for Canberra's median unit price?

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The differential between house and unit values is widening across Australia’s capital cities where houses are now recording greater value growth than units.
 Of the top five areas surveyed in each capital city, Peppermint Grove on the banks of the Swan River in Perth holds the greatest differential between capital city unit and house values; house values are 687% (or almost seven times) more expensive than unit values in the suburb.
Centennial Park in Sydney’s eastern suburbs followed and recorded a 523% differential then came the upmarket suburb of Toorak in Melbourne’s inner city at 283%.
Adelaide was a surprise addition with Toorak Gardens recording a differential of 280%, while Ascot in Brisbane recorded 236%. Forrest in Canberra recorded 242%. Lagging behind was Darwin and Hobart with their respective widest differentials of 156% and 105%.
<img src="/images/2014/05/15/kusher-may-15-two.jpg" alt="">
The data shows that at the end of the first quarter of 2014, combined capital city house values were 28% higher than those for combined capital city unit values while for the past 12 months, house values increased by 10.7% compared to a 9.4% rise in unit values. The faster rate of value growth for houses is likely to result in a growing differential between house and unit values.
Across the individual capital cities, house values are higher than unit values in each city with the differentials recorded at: Sydney (40%), Melbourne (40%), Brisbane (27%), Adelaide (31%), Perth (23%), Hobart (12%), Darwin (34%) and Canberra (46%). In most capitals we are seeing this differential widening.
I’m not surprised at the results given the widening gap between houses and units. It’s no real surprise we are seeing a rapid shift to greater development of units as opposed to houses.
More units have been approved for construction than houses in Sydney, Melbourne, Brisbane, Darwin and Canberra. However, it’s important to remember that more houses sell each year than the more affordable alternative which is units. As values rise, the challenge for some buyers is that they become priced out of the detached house market and will then need to divert the attention to more affordable alternatives found in the unit market. Today’s adjacent table listing the Top 5 suburbs highlights this fact well.
While many people aspire to living in desirable inner city areas, the reality is that there is a short supply of detached houses in these areas coupled with plenty of demand. As a result many will never be able to meet these aspirations. The alternative is to look to the unit market where the cost is still going to be comparatively high but is generally significantly lower than that of a detached house.
Units in these suburbs are often older style units which don’t come with modern architecture. Most of these suburbs are long established suburbs and have a fairly limited supply of units, most of which were built many years ago.
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ckusher-ujnxiKuFQs

House price growth increasingly higher than unit values

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Queensland’s Infinity tower, an 81-storey Meriton creation, has been awarded ‘Best Residential High-Rise Development’ (Australia) at the Asia Pacific Property Awards.
The creation, designed by Brisbane-based DBI Architects, saw 70 judges pointing to the crisp façade of the design, with white vertical blades on one side and horizontal spandrels on the other, to finally win the prize.
In Brisbane city, with views of the Brisbane River, Mount Cootha and Moreton Bay, it has a lap pool, spa, sauna, gym and short-stay accommodation in more than 200 serviced apartments.
It was created to be the tallest tower in Brisbane’s CBD with a total of 549 apartments on 43 Herschel St.
One-bedroom apartments are advertised from $405,000, with one-bedroom and a study from $415,000 and just one remaining three-bedroom apartment, at $918,000. Two-bedroom apartments are all sold out, however they were attractive prices in the mid-$600,000 range.
Rental appraisals put the weekly potential for one-bedroom apartments at $420, and $430 with a study. For two-bedrooms, one-bathroom $530 per week is expected, and for two-bedroom two-bathrooms this shoots up to $580.
The site was originally a ground level car park before being purchased by Meriton in 2009.
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jduke-EHk3XBmHkn

Harry Triguboff’s tallest Brisbane creation wins Best High-Rise award

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Sixteen of Victoria’s community and publicly managed heritage properties have been given grants for conservation, according to Planning Minister Matthew Guy.
The first round of the new Victorian Heritage Register Places and Objects Fund will see $900,000 of grants to projects statewide.
The St Mary’s Catholic Church in Bairnsdale is on the list for assistance, with $75,000 of funding. The Church is matching the contribution, and they’re looking to fix the slate roof.
The Old Murmungee Hall, in Murmungee, is an 1869 community building that will receive a $43,000 grant to help fund roof repairs and fix the damp.
A former Freemasons Hall in South Melbourne will receive a $90,000 grant, to repair the coat of arms, brickwork and render.
The Alfred Fuller Pipe Organ in Geelong will receive $10,000, matched by the Church, for cleaning, repairing and restoration.
In 2013 to 2015 around $2 million in heritage grants will be provided.
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Conservation grants for 16 of Victoria’s heritage buildings

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The Urban Development Institute of Australia NSW said that the move to end the National Rental Affordability Scheme is a blow for the western suburbs – an area that has been popular for investors and first home buyers due to its relatively low entry level prices.
According to the most recent NRAS Performance Report (June 2013), UDIA NSW chief executive Stephen Albin said that Western Sydney had seen the strongest take-up in the scheme.
Under NRAs, 154 homes were built in <a href="/news">Penrith</a>, 105 in <a href="/news">Lakemba</a>, 160 in <a href="/news">Seven Hills</a>, 106 in <a href="/news">Bankstown</a> and 50 in <a href="/news">Parramatta</a>.
“Clearly there’s a strong demand for this initiative in Western Sydney where growth is happening at a rate of knots and housing demand is far outweighing supply,” said Albin.
“The National Rental Affordability Scheme was one of a limited number of tools the federal government had to ease the housing stress for low income earners so it is incredibly disappointing to see it axed.”
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NRAS end a blow for Western Sydney hotspots: UDIA NSW

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Defence Housing Australia (DHA)’s community development in Sydney’s North Shore will launch seventy properties this weekend with its Canopy release.
Upon completion, Crimson Hill will comprise 345 residences across a number of precincts. The development abuts the Lane Cove national park, a feature Colliers International project director Curtis Field says is a point of difference in the North Shore market.
“I think when you look at that Ku-ring-gai, middle North Shore market, it’s typified by high density apartments along the Pacific Highway; right on the main road, and in and around the train stations as well,” says Field.
“There’s been a history of opposition to a lot of these developments by local residents. They’re up against the highway, and visually they tend to be unattractive. We’ve had quite the opposite response to Crimson Hill, where the community is designed to be harmonious with the bushland.”
<img src="/images/2014/04/28/DHA_CH_DG_Interior_Living2_Small.jpg">
According to Field, the local bushland has attracted buyers looking for a lifestyle change.
“We’ve seen purchasers come in who want to downsize and have something brand new, not on the highway, not sitting on the train station, but bordering the bushland,” he says.
“The downsizers are a big component of the market, but we’re also getting a few investors for the one bedroom and two bedroom apartments.
“They can go up back to the highway and buy something, but it’s going to be smaller. These apartments are slightly bigger, with better fixtures. So we’re looking at quality, rather than affordability.”
One bedroom apartments in the Canopy Release are priced from $550,000. Two bedroom apartments start at $650,000 and three bedroom apartments at $860,000. Field says that investors can expect 5% yields from the one and two bedroom apartments.
Upon completion, Crimson Hill residents will have access to a large community centre and a synthetic soccer field, both operated by the Ku-ring-gai council.
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DHA’s Crimson Hill releases seventy new apartments 

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Three of the six apartments in The Block Sky High block in South Melbourne are currently available for rent.
The offering includes the second floor apartment renovated by indie-pop duo Matt and Kim and the third floor apartment renovated by the Melbourne couple, Bec and George.
Designed by architecture firm Brenchley Architects, the building at 142 Park Street in South Melbourne is a conversion from a 1960s motel building. It comes with with shared rooftop entertainment facilities.
The furnished apartments are pitched at the corporate relocation market.
The second floor (pictured in the gallery above), full floor 220 square metre has a $1600 weekly asking price through <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413099191" target="_blank">Lina D’Ambrasio at City Residential Real Estate Docklands</a>.
It has three double bedrooms all with ensuites.
Its large German styled kitchen with Caesar Stone tops, German integrated appliances, double oven and butler’s pantry.
The 201/142 Park Street, South Melbourne apartment has electronic blinds throughout and a television in every room.
The apartment at 301/142 Park Street (pictured below) - undertaken by Bec and George in the 2013 series of The Block Sky High - has also become available <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413029435" target="_blank">at $1,600 a week </a><a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413029435" target="_blank">rental.</a>
<img src="/images/2014/05/15/south%20melbourne%20may%2015%20two.jpg" alt="" style="line-height: 1.3em;">
It is listed through Arlette Humphry at Interface Property Group Armadale.
<a href="/news/south-melbourne-block-sky-high-penthouse-available-for-1-600-weekly-rental">Last July Property Observer wrote</a> that the penthouse apartment - Trixie and Johnno's renovation -  had been listed for rent.
The fully furnished apartment sold at $1.605 million at its televised late July 2013 auction <a href="https://www.hockingstuart.com.au/UNIT_501_142_PARK_STREET_SOUTH_MELBOURNE_VIC_3205_RENTAL" target="_blank" style="line-height: 1.3em;">was offered at $1,600 a week</a>, reflecting a 5.1% gross rental yield.
<img src="/images/2014/05/15/south%20melbourne%20may%2015%20three.jpg" alt="">
 
At the time South Melbourne had a 5% indicative gross rental yield, according to RP Data.
It was rented through Hocking Stuart Albert Park agent Adam Pali, whose agency had secured the auction sale above its initial $1.41 million reserve.
The third apartment currently for rent was the garden apartment which was renovated during the final week challenge, and then retained by the Watercress production company.
It has a $1,450 weekly asking price <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413086599" target="_blank">through Dingle Partners leasing agent Daniella Ferraro</a>.
The other five apartments sold on The Block: Sky High grossed $7.603 million on auction day collectively, with Adelaide sisters Alisa and Lysandra selling the winning apartment.
<a href="/news/just-4000-hammer-price-difference-with-entertainment-the-winner-of-the-block-sky-high-auction-results">It was the narrowest of victories </a>for the Adelaide sister contestants Alisa and Lysandra who now are thinking of becoming professional interior designers after winning the most profit in the 2013 Block Sky High apartment auctions.
<div>
Their win came after a $4000 difference between the top sale under the hammer and the second highest sale - apartment 5's Trixie and Johnno securing a $1.605 million sale and apartment 4's Madi and Jarrod who secured $1.601 million.
And then there was another $4000 difference between the winners, Alisa and Lysandra being $295,000 over their amended reserve and the runner-up couple, Madi and Jarrod, $291,000 over their reserve.
The Block Sky High auction sale prices:
<ul>
<li>Apartment 5 Trixie &amp; Johnno – $1.605 million</li>
<li>Apartment 4 Madi &amp; Jarrod – $1.601 million</li>
<li>Apartment 3 Bec &amp; George – $1.507 million</li>
<li>Apartment 2 Matt &amp; Kym – $1.455 million</li>
<li>Apartment 1 Alisa &amp; Lysandra – $1.435 million</li>
</ul>
The profit amount over amended reserves:
<ul>
<li>Trixie &amp; Johnno – $205,000</li>
<li>Madi &amp; Jarrod – $291,000</li>
<li>Bec &amp; George – $242,000</li>
<li>Matt &amp; Kym – $250,000</li>
<li>Alisa &amp; Lysandra – $295,000 plus $100,000 overall prize</li>
</ul>
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jchancellor-FAypfDUnLy

Three of the six Block Sky High, South Melbourne apartments for rental

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Hi Margaret
My father has owned his 150 acre property since the '60s. He subdivided the land into three 50 acre blocks in the '90s, but he still owned all three blocks. He lives on one block and is intending to pass a vacant block into my name so I can build my home on it. All blocks are used for a farming business, however he has no taxable income. He is registered for GST.
There is no way to avoid the capital gains tax (CGT) when he places it in my name is there? 
Do you know roughly how much he will have to pay? The CGT calculators don't make sense to me. Even if I do not pay for the block, it is worth about $800,000. The three blocks were purchased for $60,000 in the 60s so the one would have been $20,000.
Many thanks,
Alan from WA
Margaret's answer on the next page. Please click below.
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Hi Alan,
As you father owned the block in the pre CGT days, this block is still a pre-CGT asset. Subdividing the one pre-CGT asset into three does not changed the pre-CGT status and subdividing does not result in capital gain or capital loss. 
Although your father will make a capital gain when he sells (or passes title of) the block to you, the date he acquired the block is considered to be the date that he acquired the original parcel of land, and the cost base of the original land is divided between the subdivided blocks on a reasonable basis. Therefore there is not CGT for your father to pay at all.
More importantly for you is considering how you will receive this block of land, and in what entity.  If you plan to live there then it may become your principal place of residence, and later if you sell there may be CGT consequences from the date you acquired the land in your name. This is because any part of the land over five acres attracts capital gains tax and cannot use the principal place of residence exemption. 
If you are going to conduct a farm then it could be considered business real property, or the part where the farm is conducted could be. It’s worth considering potentially using a self-managed superannuation structure, as business real property can be transferred into super even if it has initially been given to you.
In any event, my advice is for you to seek quality accounting advice before the transfer takes place. This will allow you to ensure that the right structures are in place from the outset.
Kind regards
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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