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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There are 979 auctions scheduled this weekend in Melbourne compared to 738 for the same time last year.
Conditions in the Melbourne auction market continue to be relatively cool. The clearance rate has exceeded 70% only twice so far in 2014 and has been slowly drifting down since that time.
As conditions are shifting in favour of buyers at auction the significant lift in volumes this week will prove to be a challenge for the market.
Conditions in the private sale market remain tight with the latest time on market monthly data  showing a new low for houses. In March the days on market for houses dropped to 35, the lowest on record. Time on market for units reached 37 days highlighting softer conditions in the higher density market as this is higher than the record low of 32 days in May 2010.
Key data
<ul>
<li>Preliminary clearance rate week ending 11 May: 61.9%</li>
<li>Melbourne auctions expected week ending 18 May: 979</li>
<li>Melbourne private sales time on market week ending 11 May: 38 days (houses)</li>
<li>Melbourne vendor discounting market week ending 11 May: -5.5% (houses)</li>
<li>Listings being prepared for market are 2.5% higher in month ending 11 May (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Market continues to cool: RP Data's Melbourne auction preview

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Restaurant and café owners around the country are celebrating today following a landmark decision by the Fair Work Commission to reduce the 75% penalty rate for casual employees on Sundays to 50%.
John Hart, chief executive of the Restaurant and Catering Industry Association, said this morning his association had been flooded by calls from its 35,000 members restaurant who said “loud and clear” they will now consider trading on Sundays when the reduced rate comes into effect on 1 July.
Hart says many businesses have been waiting on the decision, which is the result of the association’s long battle to have the penalty rates introduced by the 2010 Restaurant Industry Award amended.
The association had made an application for changes to penalty rates, classification structures and payment of wages under the Modern Awards Review Process in 2012, which was <a href="https://www.smartcompany.com.au/people/industrial-relations/34103-fair-work-commission-denies-changes-to-penalty-rates-hospitality-industry--small-business-furious" target="_blank">rejected in October 2013</a>.
The association subsequently <a href="https://www.smartcompany.com.au/people/industrial-relations/34432-restaurateurs-appeal-penalty-rates-decision-industry-body-calls-weekend-rates-commercially-unviable" target="_blank">lodged an appeal</a> with the full bench of the Fair Work Commission, which <a href="https://www.fwc.gov.au/documents/documents/summaries/2014fwcfb1996_summary.pdf" target="_blank">accepted</a> on Wednesday the association’s argument that there is a direct link between penalty rates and employment prospects.
“It’s a good first step and it’s enough for businesses to reconsider opening on Sundays,” says Hart.
“This decision really resets the operating environment for the weekend as we now have a penalty rate structure for casuals that is the same as for Saturdays.”
Hart says the majority of businesses operating in the industry are small businesses and the ruling “applies to them almost exclusively as the large companies have different arrangements”.
“This is great news for operators and for staff as there will now be more hours of work available,” says Hart. “And it is great news for consumers, who will have more restaurants to choose from on Sundays. It’s a win for everyone.”
Peter Strong, executive director of the Council of Small Business of Australia, <a href="https://www.smartcompany.com.au/people/industrial-relations/34103-fair-work-commission-denies-changes-to-penalty-rates-hospitality-industry--small-business-furious" target="_blank">previously told SmartCompany</a> he heard several tales of businesses being closed on Saturdays and Sundays because they could not afford to pay penalty rates.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Landmark decision by Fair Work cuts restaurant Sunday penalty rate by 25%

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A new residential development on the waterside of Darling Harbour, Radiance, is Loftex’s new creation of 119 one-, two- and three-bedroom apartments behind a gold façade.
Recently appointed to market the apartments on 188 Day Street, CBRE’s residential projects director, Ben Stewart, said that buying into <a href="https://radianceapartments.com.au/" target="_blank">Radiance</a> offers a rare opportunity to own a piece of freehold property.
They were not yet able to release the prices of the apartments.
Some of the properties include bike storage, studies and balconies.
Onsite parking is available for the properties, and each come with SMEG appliances and Caesarstone benchtops.
“This high-end development on the fringe of Australia’s – and indeed one of the world’s – most famous harbours offers a unique combination of livability and convenience,” Stewart said.
“These apartments will offer the very best of inner-city living - spectacular views of the city’s glittering famous harbour, a lively cultural scene, beautiful parks, high-end boutiques and fine dining.”
A luminous gold coloured façade, designed by Tzannes Associates, will be the face of the development.
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jduke-EHk3XBmHkn

Darling Harbour to see 119 apartments added to waterfront

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After highlighting the region late last year, Property Observer revisits the New South Wales city of Albury to see what has changed in the city’s property market.
<a href="/news">Albury</a> is separated from its twin city of <a href="/news">Wodonga</a> by the Murray River. The city has a population of 50,243 people, which is expected to grow to 68,570 by the end of 2031. Albury’s Gross Regional Product was $2,806 billion in 2013, making its Gross Regional Product per worker $131,784 for the year. This result is slightly under the state Gross Regional Product per capita of $159,021.
The region was raised last year as a potential growth area, with <a href="/news/nsw/investors-advised-albury-one-of-five-regional-nsw-markets-at-bottom-of-property-cycle-herron-todd-white">Herron Todd White’s August 2013 report</a> saying that both houses and units in Albury were at the bottom of the property market cycle.   
According to RP Data, the greater Albury area’s median house price was down 1.9% from the year before, with Albury city’s median house price down 7.5% from 2012.
Earlier that year, Observer <a href="/expert-insights/investing/diversity-is-the-key-to-residential-property-investment-success-terry-ryder">Terry Ryder also cited the area in his “hotspotting"</a> reports due to the region’s “diversity and solidity”, writing that the area avoids exposure to the volatility of economic cycles. 
This sentiment was echoed last year by Peter Drummond of Drummond Real Estate, who told Property Observer that the market was “very normal”.
“There are positive things about the market and some people are predicting it as a bit of a boom town – I think it will remain steady and strong,” he said.
Employment is spread over a range of sectors in Albury, with the majority of the city’s 21,293 workers are employed in health care and social assistance industries, followed by retail sector workers.
To further ensure the strength of the region’s economy, the local government has outlined a Digital Economy Strategy, intended to help businesses “transition into a world that is increasingly digitised”. Albury City and Wodonga City committed to a range of initiatives that it predicts will contribute to Albury-Wodonga’s economy by as much as $571 million per year.
Last month, Albury recorded one of the biggest drops in its vacancy rate, according to the Real Estate Institute of New South Wales. The city’s rental market tightened over the month, dropping 0.5% to 1.6% - the same vacancy rate as Sydney’s inner city. It is now even harder to find rental accommodation in the city than six months ago, when the vacancy rate sat at 1.8%.   
According to RP Data, the city’s median house price was $325,000 for March. Units went for a median price of $167,175 in the same month, though February’s median sale price of $355,000 suggests seasonal variation or a month to month difference in the type of stock sold.
<a href="https://www.realestate.com.au/property-house-nsw-east+albury-116926095" target="_blank">This home in East Albury is currently on the market</a> through Sue Moss of Zelle Albury, who is quoting $379,000 for the property. 
 <img src="/images/2014/05/15/albury.jpg" alt="">
The three bedroom, two bathroom brick house with a double garage is set on an 863 square metre block. It includes a formal lounge, a gallery kitchen and a separate dining area. It was last advertised for rent at $385 per week.
Feature photo courtesy of Richard Taylor/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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jrichardson-uRX5hFdKfN

Suburb spotlight: Albury market is "steady and strong"

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Luci Ellis, the head of the RBA's financial stability department, hopes Australians can see an upswing in housing prices in the larger metropolitian centres and say, ‘I don't have to buy into that. I don't have to stretch my finances’.
Not that Australian household finances are looking too stretched at the moment.
"And we'd like to see it stay that way," Luci Ellis said.
Her speech to the CITI Residential Housing Conference noted that the 15 years to 2005 saw housing prices rise noticeably faster than incomes.
"This was in large part a transition to a new equilibrium of lower inflation and interest rates, and thus higher debt and housing prices relative to incomes. That transition is over now. Housing prices are therefore going to be cycling around a slower trend than they did in the past. There will be more periods where prices are falling a little in absolute terms," she said.
The means that there was "less scope for rising markets to cover mistakes if you fall in love with a property and overpay for it".
"It means there is little room for another round of property exuberance of the type we saw just over a decade ago, in 2002 and 2003. Australia managed to have its housing boom end without a major disaster. Plenty of other countries weren't so lucky.
"Usually it's the property developers that are the source of loan defaults and financial instability, not the households with mortgages. But an overstretched household sector is hardly a good environment to have if something should go wrong elsewhere in the economy.
"That is why the Reserve Bank and the Australian Prudential Regulation Authority (APRA) have emphasised loan serviceability so much of late."
She commented that lenders had become more sophisticated in the ways they assess households' capacity to repay mortgage loans.
"Most of them have moved beyond a crude approach of applying a blanket repayment-to-income test, more likely to take people's actual living expenses into account, not just some version of the Henderson Poverty Line. After all, it doesn't seem reasonable to expect people to have a poverty-level lifestyle to pay off a million-dollar home.
"Importantly, lenders are now more likely to apply an add-on to current interest rates when calculating the repayment they use in their serviceability tests. 
"It's fair to say that serviceability calculations are binding for first home buyers and less binding for trade-up buyers and investors. So it's no surprise that as interest rates have fallen, it's the trade-up buyers and investors whose demand has increased.
"Meanwhile first home buyers will feel squeezed out. This is probably more a cyclical phenomenon than a structural one. It is still probably quite disheartening for potential first home buyers.
"As such, it would not be a good outcome if they responded by overstretching themselves to try to get into the market during upswings."
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jchancellor-FAypfDUnLy

Disheartened FHBs warned not to overstretch home loan borrowings: RBA's Luci Ellis

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The way a property presents can make or break its potential for sale or for finding those perfect tenants, and so vendors and landlords need to take it seriously.
Place managing director, Sarah Hackett, explains that there are seven factors that should always be considered when trying to provide that immediate attraction and charm.
“While you can go to the extent of staging your home with rented furniture, there are other things you can do to present your home in the best possible way and get buyers and tenants to fall in love with it without spending a fortune,” explains Hackett.
For those heading to an open home to assess a property to purchase, then <a href="/news/how-to-assess-a-property-at-an-open-home">here’s a useful guide</a>.
For those selling, here are her seven tips:
<ol>
<li>
Street appeal We hear about fixing up that front façade all the time – and for good reason. It’s important! First impressions are quickly made about a property, and you don’t want your buyers put off before they’ve even stepped through the front door. “You need to have both the interior and exterior of the property looking in pristine condition,” said Hackett. “Mow the grass and tidy the yard, put out fresh mulch in the garden, sweep driveways and patios and put away garden tools such as hoses and sprinklers. Consider adding a new latch to the fence so that it opens easily and give the fence a fresh coat of paint if needed.” She also explained that when the agent greets the viewer at the front door, it’s nice to add a homely touch. This could be a nice door mat or pot plants. It’s also worth remembering to keep things clean, avoid parking directly in front of the house and to keep vehicles out of driveways. Here’s <a href="/expert-insights/building/five-ways-to-spruce-up-your-propertys-exterior-for-added-value">five ways to spruce up your property’s exterior for added value</a>.  
</li>
<li>
Cleanliness The next step is to keep things clean and to de-clutter the property.  It may require a bit of elbow grease, but the time spent is worthwhile. “This involves removing unwanted dirt and dust so that your property is sparkling, as well as tidying and de-cluttering, which includes cleaning off counter tops in the kitchen and bathrooms; removing photos and papers from the refrigerator; putting away items such as remote controls, magazines and garbage bins from the living areas; and ensuring bedrooms are tidy by making beds and putting clothes away,” she said. Essentially, this step is about removing distractions and unnecessary objections to the property. This is the <a href="/expert-insights/investing/ten-tips-to-prepare-your-home-for-an-open-for-inspection">number one ‘must do’ item on this list of 10 things that you should look towards before your open for inspection</a>. 
</li>
<li>
Lighting Maximising natural light is a good first step – just opening the blinds or curtains can be helpful, as can cleaning the windows. Turn all the interior lights on, even in daytime showings. “This includes ensuring any broken light bulbs have been changed,” explains Hackett. 
</li>
<li>
Style your home While you can bring in the professionals it is also worth DIY-ing if you can’t afford it. “Set your table – it doesn’t have to be a formal setting, in fact casual is better,” she said. “Put a jug of water and nice glasses out or a bread loaf on a nice platter with napkins.” Look for nice features, such as fresh flowers, and create focus points in different rooms. Each room should be styled – consider purchasing cheap, but nice, doona covers, bathroom accessories and artworks. “Ultimately you want it to look like a hotel,” said Hackett. “In this sense you can make the bed a feature of the bedroom by adding extra pillows, and in the bathroom you can display soaps, towels and bath oils.” 
</li>
<li>
Playing to emotions Property is all about tugging on the heartstrings, so don’t be afraid to play to the mood. Music can work well, and is often used at professional display suites. She explains that this works particularly well as people feel more free to talk and discuss the property. 
</li>
<li>
Repairs Don’t leave any imperfections that can be easily fixed – this includes cracked windows, or chipped paint. “These signs of neglect can ring alarm bells for some buyers, who may think the whole property is generally rundown, and it will detract from the property’s appeal,” said Hackett. 
</li>
<li>
Time it right It’s likely you know your property well – so do you also know the time of day when it presents best? West facing houses may suit to do an open home in the morning – particularly if there’s no air conditioning and it tends to get too hot. “Likewise if your house has a lot of shade, hold open houses in the warmer hours. But make sure you work out when the entertaining areas are sunlit but not boiling,” she says.</li>
</ol>
You may also want to read <a href="/news/get-your-property-open-home-ready-in-just-one-morning-a-last-minute-guide">this “last minute guide” to preparing your property for an open home</a>.
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Seven tips for preparing your home for sale or for rent

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Brisbane still seems relatively affordable amongst the capital city rivals, according to valuers, Herron Todd White.
"Everyone out there is waiting for it to really start kicking in – particularly beyond five kilometres from the CBD," their latest report suggested.
"It feels like our turn after the gun market runs of Sydney and Melbourne," it added.
 The outcome falls firmly upon the shoulders of the first home buyers looking for options in south east Queensland.
"They’ve been less present of late compared to the end of last year," the May report noted. 
The first home buyers are likely to secure a typical single level home priced under $500,000 since HTW has detected suburbia is increasingly hip. 
Their advice is in the southern suburbs of Brisbane to look towards the eight to 15 kilometre band.
"For example, Moorooka is getting a name for itself amongst the young and typical 1950s three bedroom, one bathroom dwellings of average condition below $600,000 will find suitors."
<a href="/news">Moorooka's median unit price</a> sits at $377,750 and $507,500 for houses, according to RP Data.
New apartment offerings include <a href="https://www.realestate.com.au/property-unit-qld-moorooka-115792551" target="_blank">Canopy 11</a> (pictured below) due for completion mid 2014 with prices starting at $340,000 with first home buyer able to get the $15,000 grant.
<img src="/images/2014/05/15/marooka%20may%2015%20three.jpg" alt="">
<a href="https://www.realestate.com.au/property-unit-qld-moorooka-116376599" target="_blank">The cheapest unit offering</a> (in the building picture below) is seeking $225,000 plus for a one bedroom.
<img src="/images/2014/05/15/marooka%20may%2015%20one.jpg" alt="">
The cheapest house is $375,000 for a three bedroom fibro and tiled roof cottage on 685 square metres at<a href="https://www.realestate.com.au/property-house-qld-moorooka-116571591" target="_blank"> 374 Beaudesert Road</a> (pictured below).
<img src="/images/2014/05/15/marooka%20may%2015%20two.jpg" alt="">
Mid-ring investors are active in the same pockets as first home buyers, particularly Mount Gravatt where there is quite a bit of proposed development with an increase in infrastructure in coming years.
Entry-level investors are looking closer in, according to HTW.
Investors are active with detached houses up to $600,000 and in inner city units too – particularly interstate and international buyers. 
</div>
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Moorooka pinpointed as Brisbane awaits first home buyers: HTW

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The First Home Saver Account scheme was one of the Rudd government initiatives axed in the Abbott government’s first federal budget.
Under the scheme, First Home Saver Accounts were given concessional tax rates and government co-contributions. Despite offering a concessional tax rate of 15% on interest earned in the accounts and awarding 17% co-contributions on the first $6,000 deposited by savers each year, the scheme failed to attract many savers preparing to purchase their first home.
The scheme’s low take up has been attributed to poor marketing and the regulations attached to the accounts. In order to qualify for the benefits, savers needed to deposit a minimum of $1,000 a year over four years before they could withdraw any money in the account. If the money was not used for a payment on a saver’s first home, it was added to their superannuation account.
Any new accounts created after 13 May will be ineligible for tax concessions or co-contributions. Existing accounts will not receive any co-contributions after 1 July 2014. National tax director of professional services firm BDO Lance Cunningham says that the government has begun winding down the scheme.
“It’s basically been abolished but with a phase out, so that from budget night you won’t be able to open any more new accounts. But for existing accounts, the co-contribution will cease from 1 July 2014.”
Savers who hold existing accounts will be able to receive co-contributions for deposits made in the 2013-14 financial year up until July.
“Be careful, it’s only a budget announcement,” says Cunningham. “But it seems to be fairly clear that if you make contributions before July this year, the co-contributions will be honoured.
“If you haven’t reached the co-contribution cap, which I think is about $6000, you might consider depositing more money in the next month to receive your co-contribution.”
Although co-contributions will end on July 1 this year, tax concessions will continue for another year.
“The tax concessions will still be available up until July 2015,” says Cunningham. “They will still be treated as First Home Saver Accounts, but the concession ceases after that date. After July 2015, they will be treated as any other account.”
Savers who have held their existing accounts for less than the four year period will have to wait until 1 July 2015 to withdraw their savings.
Steven Gunzburg is a 26 year old account manager who holds a First Home Saver Account. He says that though he understands why the scheme is being scrapped, it provided good incentives to save.
"I was contributing the maximum amount, which increased over the past 3 or 4 years, every year." 
"Mainly it was a fantastic way to incentivise people to think about saving from a much earlier age. There’s no way in the world that it’s going to make the vast majority of my deposit, but it helps you get into the right mindset."
Gunzburg opened his account when he was 18 or 19, after his mother explained the benefits of the scheme.
"My mum actually found out about it, explained it to us and I begrudgingly put quite a reasonable amount of my money into the account," he says. But Gunzburg says that the scheme had its downsides.
"Part of the problem with the scheme was that it was so complex and convoluted, it was incredibly hard to understand when and how you could access your money."
When the scheme was announced in 2008, the Rudd government predicted that 750,000 First Home Saver Accounts would be opened over the next four years. However, as of December last year, only 46,000 accounts had opened.
Late last year, <a href="/expert-insights/calls-for-urgent-revision-of-first-home-saver-account-scheme">comparison website RateCity called for changes to the scheme</a>. Chief executive Alex Parsons said that at the time, none of the “big four” banks offered the accounts.
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First Home Saver Accounts scrapped: What now?

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GUEST OBSERVATION
Treasurer Joe Hockey’s first budget creates a clear path almost to a surplus. Our children will pay much less for current spending. Real political courage was required to get this far.
But the budget also creates problems for the future that will drag on economic growth and hurt the less fortunate. Over the next few years the Abbott government will have to make even tougher choices that both keep the budget in balance and do more to promote economic growth and fairness.
Even in four years' time the budget does not quite balance – and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-05-08/daley-our-bloated-budget-needs-to-hit-the-treadmill/5437904" target="_blank">it should already be balanced</a> given that the economy is not doing too badly. Some of the choices, particularly the timing of the deficit levy and increases in infrastructure spending, seem almost designed to avoid claiming a surplus. The budget ducks the possibility of under-delivering on a surplus, but only by under-promising.
Bracket creep does most of the work of budget repair. Fixed income-tax thresholds and wage inflation will take personal income tax from 11% to 12% of GDP. This is worth about $18 billion in today’s terms. Income tax has not been at these levels since the GST came in.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/48422/width668/7xmtbdzr-1400030990.jpg" alt="">
Real spending reductions and a few tax increases also help to reduce the budget deficit. New decisions will improve the budget bottom line by about $10.5 billion in 2016-17.
It will be the sharpest sustained slowdown in spending since the “recession we had to have” of 1990. Commonwealth spending on health will shrink as a proportion of GDP for the first time in a long while.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/48423/width668/9prfznpk-1400031054.jpg" alt="">
The Treasurer promised the burden would be shared across the community. The budget is clearly designed around this principle, which is likely to make the package <a href="https://grattan.edu.au/publications/news-and-opinion/post/fixing-our-budget-emergency-means-making-the-case-for-change/" target="_blank">easier to sell</a>. Patients, students, families, pensioners, the unemployed and high earners will each contribute $1 billion to $2 billion fairly directly to the bottom line. However, the <a href="https://theconversation.com/age-pension-reform-needed-for-a-fair-sustainable-welfare-system-22313" target="_blank">largest line item in the budget, the Age Pension</a>, will continue to consume more of the Commonwealth budget and national resources, despite some minor tinkering.
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/48425/width668/3h3mg82d-1400031107.jpg" alt="">
False economies in the budget
Unfortunately, many of the things helping the budget to surplus will drag on economic growth and well-being.
Co-payments for medical services and pharmaceuticals are likely to lead to more sickness that far outweighs any budget savings. Similar co-payments elsewhere have led to people seeing the doctor less. Some didn’t really need to see a GP, but far more <a href="https://theconversation.com/federal-budget-2014-health-experts-react-26577" target="_blank">missed out on valuable treatment</a>.
The budget also unilaterally tears up the Commonwealth’s promises to help states with the growth in hospital spending. In effect, the Commonwealth has told the states they will have to absorb most of the <a href="https://grattan.edu.au/publications/reports/post/budget-pressures-on-australian-governments-2014/" target="_blank">coming cost increases in health</a> as new and more expensive treatments keep proliferating and the population ages. This doesn’t solve the budget problem, just transfers it to another level of government.
The budget’s reliance on bracket creep is also likely to discourage workforce participation, particularly among women thinking about returning to work who often <a href="https://grattan.edu.au/publications/news-and-opinion/post/to-lift-economic-growth-we-must-cut-the-cost-of-childcare/" target="_blank">take home very little of what they earn</a>. By 2017-18 – after the deficit levy is due to expire – middle-income earners will pay an extra 1.8% of their incomes - $744 a year – in tax. Some will lose family payments on top of that.
Similarly, although bush economists might be attracted by “work for the dole” schemes, and these are likely to reduce claims for unemployment benefits, the evidence shows that these schemes <a href="https://theconversation.com/work-for-the-dole-doesnt-work-but-here-is-what-does-22492" target="_blank">hinder people finding proper long-term jobs</a>. Combined with uncapped university fees and charging real interest for student loans, which may start to deter people from going to university, this budget could reduce how much Australia’s workforce produces in the long term.
The government’s controversial Paid Parental Leave Scheme remains in the budget, although you would need a microscope to find it buried in the budget papers as an “other” variation from the November economic statement. The best one can hope is that it never eventuates – and if the company tax changes that were to part-fund the scheme don’t happen, then the budget will get a collective boost of $4 billion a year. That money could be put to better use making childcare more affordable.
The budget’s main claim to economic responsibility is its new infrastructure spending, about $3 billion in 2016-17. That is smaller than you might think if you listened to the announced package, which conflates spending over a number of years, as well as already announced spending. And the claimed economic benefits may be much smaller than assumed.
Not one of the material projects getting new money from the government is <a href="https://www.infrastructureaustralia.gov.au/coag/files/2013/2013_IA_COAG_Report_National_Infrastructure_Plan_LR.pdf" target="_blank">rated by Infrastructure Australia as “ready to proceed”</a> – indeed not one even falls into their “on the threshold” category. Many are not even rated as projects with “real potential”.
The rigorous independent cost-benefit analysis of projects simply hasn’t been done. Given past experience, we should be sceptical about accepting politicians’ claims that their instincts are a good substitute.
So this budget may reduce the deficit, but it reinforces the need for much better quality policy in future to encourage economic growth and well-being. Better unemployment, health and transport infrastructure policies will be needed. The big reforms, as identified in Grattan Institute’s <a href="https://grattan.edu.au/publications/reports/post/balancing-budgets-tough-choices-we-need/" target="_blank">Balancing Budgets</a> report, will involve tightening superannuation tax concessions and pension eligibility and abolishing negative gearing so that the tax burden is shared more fairly across the community and it becomes easier for our children to buy houses. These measures will all create space to reduce income tax and relieve the burden on low and middle-income earners.
The government has made one courageous decision in this budget: those born in 1965 will need to work until 70 to collect an Age Pension. This is the kind of measure that will both repair the budget in the long term and encourage economic growth. Future budgets will need more of this kind of courage if they are both to sustain the deficit reduction of this year’s budget and ensure long-run economic growth and well-being.
John Daley is chief executive officer at <a href="https://grattan.edu.au/" target="_blank" style="line-height: 1.3em;">Grattan Institute</a>.
Cassie McGannon is fellow, Australian Perspectives at <a href="https://grattan.edu.au/" style="line-height: 1.3em;">Grattan Institute</a>.
Grattan Institute began with a $15 million endowment from each of the federal and Victorian governments. In order to safeguard its independence, Grattan Institute’s board controls this endowment. The funds are invested and Grattan uses the income to pursue its activities.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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jake-cSmGT7VXVf

Changes help the budget but not the economy

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The main reason superannuation costs are too high in Australia is both simple and horrendously complex: it’s the only service we buy where we give the service provider our money to look after.
It’s true that we also give our money to banks, but mostly, especially when we’re young, the banks give us money as loans.
The fact that super funds, and the investment managers and wealth advisers who run them, hold our money for us allows them to simply take some of it every month as their fee.
Everyone else has to send us a bill.
This might sound too obvious to even bother mentioning, but that system has two very powerful hidden effects:
<ol>
<li>
The providers of investment services get to charge a percentage of the money, and almost nobody understands percentages and even fewer understand the power of compounding;
</li>
<li>
Since the fee is usually a fixed percentage of the client’s account balance, it increases at the same rate as the balance, which is in turn being fed by the sum of investment returns and all contributions – mandatory and voluntary.
</li>
</ol>
<img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/46256/width668/wbzddg8b-1397351382.jpg" alt="">
Compounding fees
As a result, super and investment fees compound at several times the rate of inflation but the customers barely see what’s happening, and those that do, don’t understand it.
Say you’re 25, earning $50,000 and you start with $1000 balance in super. And say the fee is 1% (actually by the time you add in advice and investment management it’s probably more like 2%, but let’s stick with 1% for simplicity).
That 1% produces a $10 fee. In the following 12 months you contribute 9% of your salary, or $375 per month. On top of that the fund manages a return of 10% on the average balance.
At the end of the year your balance will be $5950 – marvellous. New fee: $59.50 – a six-fold increase.
Next year you got a pay rise of 5%, which means your contributions increase to $393.75 per month, or $4725. Once again the fund earns you 10%, so at the end of the year your new balance is $11,506. New fee: $115.06 – nearly twice last year’s fee.
Obviously that escalation in fees is dramatic because the balance started from a low base. That means, by the way, that people with low balances who are just starting out are subsidised by those with more money in their accounts, and that’s the best thing about the percentage fee system.
So let’s look at the same metrics for someone more established in the workforce, with $100,000 in super and a salary of $100,000 a year.
First year fee is $1,000 (1% of $100,000). Next year, assuming 9% of salary in contributions and a 10% return on the average balance, the fee is $1,194.50 – an increase of 19.45%.
Next year’s fee, assuming a 5% salary increase and another 10% investment return, is $1336.25, 12% more than last year. And the year after you get a promotion! Salary goes to $120,000 and contributions to $10,800 for the year. Your new super balance is a very healthy $158,270. New fee: $1582.70 – an 18% increase over last year.
<h2>And yet we comply…</h2>
Do you ring and complain about being gouged? Well, no, because the fee is still 1% – it hasn’t changed. And you’re feeling good about the rising balance, so why complain? And anyway, you probably don’t even know. The fee statement is there somewhere, but you never pay much attention to it.
There are two things to think about here. First, your salary is increasing by 5% so it’s a fair bet that the super fund’s staff are also getting the same sort of pay rises, possibly less.
Yet the fees are increasing at 2-3 times that rate because the law requires us to contribute 9% of salary and because investment returns usually average about three times the inflation rate as well, simply as a result of the rising stockmarket (not the super fund’s brilliance). That’s the whole point of investing in shares – they return 2-3 times inflation over time.
Second, with $150,000 in super you’re probably paying 2% in management and adviser fees (not 1%), which is $3000 a year, or $250 a month. Some people have account balances of $500,000, especially when they retire, and pay fees of $10,000 a year, or $833 a month.
Think about how many services you pay $800 a month for, month after month, year after year, or even $250 a month for that matter.
<h2>What can be done?</h2>
Super funds hate this description, but superannuation is a utility, like gas, electricity or the phone; in fact it’s more so - a government-mandated utility.
What’s more you don’t get much for the money – basically super funds put the money into large companies and ride the market up and down. This year’s winner is next year’s loser, and vice versa, and there’s no way of telling the difference between them.
Yet not only is it almost certainly the most expensive service you buy, the cost of it compounds at several times the inflation rate every year and the providers don’t have to send you a bill like the other utilities – they just quietly take some of your money each month.
And remember that the prices charged by gas, electricity and communications companies are regulated by the ACCC, which actually determines what return on capital they’re allowed to make. Super fees are not regulated at all.
So to control the ballooning cost of super, three things should happen:
<ul>
<li>
super funds and their advisers must be told to stop skimming the accounts for their fees, and to send a bill instead that we have to actually pay
</li>
<li>
the costs of compliance and regulation need to be brought down, which the government is trying to do
</li>
<li>
the fees that super funds charge, and the profits they make, should be regulated, just as other utilities are regulated.
</li>
</ul>
On second thoughts, perhaps only the first of those would be needed.
If we started getting a bill for $500 a month from our super fund, the price would quickly come down because customers wouldn’t pay it … especially when the share market was falling and along with it all the account balances.
Yes, stop making the super funds disclose the fees they skim, make them send us a bill instead.
<img src="https://counter.theconversation.edu.au/content/25199/count.gif" alt="The Conversation" width="1" height="1">
Alan Kohler is the founder of the Eureka Report, a subscription-based newsletter that gives general advice related to superannuation.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/superannuation-is-too-costly-so-bill-me-25199">original article</a>.
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