Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

Joel Robinson

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

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As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

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The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

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Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

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The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

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"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

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Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

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The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

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Mosaic records more than $400m in two months at South Brisbane's The Riversdale

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

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Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

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Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

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.

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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.

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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.

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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.

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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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John Symond has delivered a bullish speech on the outlook for the housing market over the next few years forecasting "steady" price gains as one of the keynote speakers at the Australian Real Estate Conference (AREC) on the Gold Coast today.
He also inspired delegates – many of whom tweeted from the conference – of how he had worked as a kid in a fruit shop and then overcome near bankruptcy to establish the Aussie Home Loans business.
Titled ‘It all starts with a big dream’ the Aussie Home Loans founder said the next 12 months to two years would be a good time to be in the property market.
He said house prices had bottomed out and the market would turn the corner after the federal election in September - when more certainty returned to politics - with house prices rising at a steady rate rather than leaping ahead.
"If you want to pick a time to get into housing, you can't get a much better time than now," Symond told a huge industry gathering.
Highlights of his speech were tweeted by those in attendance, including Property Observer blogger Leanne Pilkington, general manager at Laing &amp; Simmons:
<img src="/images/stories/april23tivoli/leanne_pilkington_tweet.jpg" width="470" height="95" alt="leanne_pilkington_tweet">
Sunshine Coast real estate agent Simon Thomas, was also inspired tweeting the following along with a photo of John Symond at the conference:
<img src="/images/stories/april23tivoli/simon_thomas.jpg" width="470" height="89" alt="simon_thomas">
<img src="/images/stories/april23tivoli/john_symond.jpg" width="470" height="292" alt="john_symond">
Quest Real Estate was also buoyed by the speech, tweeting Symond’s positive outlook and post-election expectations:
<img src="/images/stories/april23tivoli/quest.jpg" width="470" height="153" alt="quest">
Symond told delegates interest rates were at their lowest on record, and could head even lower.
He said there was evidence that house prices were rising all across Australia.
He was particularly bullish about the outlook after the election.
"After the election, most Australians will feel they have a government that can make decisions in their own right and that will boost confidence,” said Symond, reported News Limited, co-sponsors of the conference.
"It is very difficult for any government to govern efficiently when they have to rely on splinter groups and a coalition of interests."
He encouraged first-home buyers to act on “market signals” and not to wait for further incentives from governments, highlighting that home loans were available at below 5%.
He said affordability was it its best in many years.
Symond quoted RP Data research showing the number of suburbs where it was more affordable to buy a home under $500,000 than rent had grown from 500 two years ago to 796.
But he highlighted that property was a long-term investment and not a “quick kill”.
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lschlesinger-FZcF9M3vE6

Next two years a good time to be in property with “steady” house price growth expected: John Symond

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There's a $545,000 mortgage repayment prize at stake as House Rules airs its first renovation points judging program tonight.
Its the Perth renovation of the newlyweds Jemma Blenkinsop, who runs a spray-tan business and builder, Ben Van Ryt.
They were first-home buyers in late 2011, but with the Perth property market the way it is, they couldn't afford to renovate their 1950s Melville home. 
Its the first featured renovation among the six contestant couples.
Property Observer previously noted the house cost $555,000.
The couple revealed their mortgage size during the first week's programs as $545,000.
The remaining couples have yet to reveal the size of their potential mortgage prize.
{yoogallery src=[images/stories/2013/05/may10houserules]}
The Channel 7 series prize is the payment of the winning couple's entire mortgage.
House Rules premiered last week competing for audience against the Channel 9 perennial, The Block.
The Block Sky High's first room reveal last night rated a 1.524 million audience, the top non-news and current affairs ratings for Sunday night.
The new state-versus-state renovation series, from the makers of My Kitchen Rules, aims to deliver true home renovations.
The contestant couples have put their entire home on the line promising an emotional return to their new homes after the seven-day renovation.
The teams have to work independently on their own zone within each house but they also have to work as a team to ensure each room complements the other when it's completed.
The six teams competing are: <a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802165/michelle-steve-nsw/" rel="nofollow"></a>
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802165/michelle-steve-nsw/" target="_blank" rel="nofollow">Michelle &amp; Steve</a> (Collaroy Plateau, New South Wales) <a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802279/nick-chris-vic/" rel="nofollow"></a>
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802347/amy-sean-qld/" target="_blank" rel="nofollow" style="font-size: 14px; text-align: left;">Amy &amp; Sean</a>(Queensland)
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802523/carly-leighton-sa/" target="_blank" rel="nofollow">Carly &amp; Leighton</a> (Warradale, South Australia) <a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802965/jemma-ben-wa/" rel="nofollow"></a>
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802965/jemma-ben-wa/" target="_blank" rel="nofollow">Jemma &amp; Ben</a> (Melville, Western Australia)
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16803037/jane-plinio-tas/" target="_blank" rel="nofollow">Jane &amp; Plinio</a> (New Town, Tasmania)
<a href="https://au.tv.yahoo.com/house-rules/teams/article/-/16802279/nick-chris-vic/" target="_blank" rel="nofollow">Nick and Chris</a> (Northern Suburbs, Victoria)
Each of the House Rules teams hand over the keys to their homes and allow their competitors free reign to transform their house, so the host Johanna Griggs expects lots of passion and pride in the way teams tackle the renovations.
"It's a bunch of likeable Australians with amazing back stories," Griggs said.
Apparently the teams have longed to be able to renovate, but not been able to accomplish it until now because of large mortgages.
The Tasmanian couple paid $355,000 in 2010 for a house initially listed at $380,000-plus.
The so-called Sydney battlers Steve and Michelle Ball who live at Collaroy Plateau on the northern beaches paid $650,000 for their house in March 2012. 
The South Australian couple paid $450,000 for the house which had been listed with $485,000 hopes in May 2012.
Johanna Griggs, the presenter of Better Homes and Gardens, is herself a keen home renovator, currently building her fourth home with husband, builder Todd Huggins.
“I’ve been in this industry for 20 years now and this is the first time I’ve had a go at this style of show.
"Because we are dealing with people’s own homes, I’m expecting the stakes to be high, the competition to be tough and the results incredible.
Chester Drife is the House Rules building supervisor.
House Rules airs Monday, Tuesday, Wednesday and Thursday at 7.30 pm on Seven.
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jchancellor-FAypfDUnLy

House Rules judging with $545,000 Perth mortgage repayment reward possibility on the line

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Property prices are forecast to rise 5% nationally in 2013 moderating to 3.5% in 2014, according to Westpac senior economist Matthew Hassan.
He says the current recovery in Australia's housing markets has been "slow to form and despite a quickening in early 2013 remains uneven across segments and states".
"We expect more of the of the same going forward.
"Price expectations suggest current positive momentum is well-entrenched but ‘consumer caution’ and a reluctance on the part of buyers to stretch themselves financially will remain a major ongoing restraint.
"Concerns around job security remain high and although lower interest are easing pressures on existing borrowers and improving affordability for those looking to enter the market, the mining investment downturn and associated labour market weakness will continue to inhibit buyers," says Hassan.
He expects wide divergence in property market performance across capital cities "with a variety of state-specific forces at work". 
"Sydney and Perth are expected to lead the way initially but with activity likely to wane in the west as the mining downturn gathers momentum.
"'Supply' factors are expected to be become more of a drag in Melbourne, but are expected to diminish in Brisbane where rental markets have already tightened up rapidly.
"Dwelling construction will also be uneven with solid but unspectacular growth forecast nationally – an 8.9% over the two years to the end of 2014," he says.
"Sydney and Perth will continue to lead the way although the mining slowdown and a stretched starting point for affordability are expected to become more of a constraint in the west," he says.
"Despite the solid start to 2013, the Melbourne market will tend to under-perform, particularly as a large pipeline of dwellings currently under construction comes onto the market (including 20,000 units approved for inner Melbourne over the last 2yrs).
"Brisbane, which has been the weakest market over the last 3yrs, is expected to remain soft near term but improve a little in 2014.
He expects lower interest rates to take the pressure off Queensland's weakest sub-markets - the Gold Coast and Brisbane’s southern fringes.
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Uneven housing market recovery to slow down from 5% rise in 2013 to 3.5% in 2014 with Perth and Sydney strongest: Westpac's Matthew Hassan

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A Malaysian-investor has paid $6 million for a car park on Flinders Lane in the Melbourne CBD.
There were 14 separate offers to purchase lodged at the close of the expressions of interest campaign with the sales price well in excess of the vendor’s expectations.
The sale on a yield of 6.4% comes soon after the Victorian state government announced it would <a href="https://www.propertyobserver.com.au/victoria/melbourne-cbd-drivers-hit-with-parking-levy-increase/2013042960816" target="_blank">significantly expand and increase its levy on car parks in Melbourne’s CBD.</a>
The levy has increased 37% from $950 per year to $1300 per year and will now include short-term parking-bays for the first time.
The costs are expected to be passed on to car park users, equating to around $1 per day extra per car space.
The car park at  the base of the Katherine Square office building at 517-537 Flinders Lane comprises  106 bays on 99 individual titles and is managed by Wilson Parking on a lease term expiring in May 2014.
It brings in net income of around $385,667 per annum.
The sale price equates to $56,600 per car space.
The sale was negotiated by Clinton Baxter and Nick Peden from Savills, who said the property attracted "exceptionally strong interest from numerous local, interstate, and offshore investors, with many competitive offers being received".
Baxter said the 6.4% yield was a record for the Melbourne CBD.
The vendor was a local investor.
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Melbourne car park sells to Malaysian investor on record 6.4% yield

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GPT has confirmed the sale of its 50% interest in the Erina Fair shopping centre, on the NSW Central Coast, for $397.1 million.
Previous media reports had named the buyer as <a href="https://www.propertyobserver.com.au/retail/south-korean-pension-fund-set-to-acquire-gpt-s-half-of-erina-fair-mall-for-%24400-million/2013051561394" target="_blank">the National Pension Service of South Korea</a>.
GPT did not name the buyer saying only that it sold to a client of Lend Lease Investment Management, a Singapore-based division of the property development giant.
The sale was negotiated by Simon Rooney of Jones Lang LaSalle, who said the sale "reflects a current situation of deep, liquid capital markets - backed by swelling demand from various domestic wholesale and superannuation investors, together with offshore pension and sovereign wealth funds - as they continue to up-weight their exposure to core, direct real estate in Australia". 
"Since the start of 2011, these investors have acquired $5.7 billion worth of part interests in major retail assets at or above book value.
"A-REITs have been the primary driver on the sell side – as they implement the strategy of selling down part shares in major assets while retaining management and development control, in order to redeploy capital into their development pipelines and subsequently, drive the return on their equity invested," Rooney says.
Lend Lease Investment Management has a portfolio under management of around $13.2 billion comprising property assets across unlisted funds, joint ventures and separate mandates in Asia, Australia and Europe.
Australian Prime Property Fund – Retail, a Lend Lease unlisted wholesale fund, owns the remaining 50%, with the mall managed by Lend Lease. CEO and managing director Michael Cameron said GPT had capitalised on the strong interest from domestic and overseas investors in quality Australian property assets. “This solid demand has allowed GPT to realise the value of this asset and continue to progress its strategy to move to a more balanced portfolio weighting,” Mr Cameron said. “In the past year we have effectively executed this remixing strategy moving retail from 61% of the portfolio to 54%, inclusive of this latest transaction. We continue to investigate further opportunities for investment in Office and Logistics &amp; Business Parks,” he said. 
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GPT confirms sale of half stake in Erina Fair shopping centre to Asian interests for $397.1 million

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The Brisbane median house price decreased 1% to $515,000 over the March quarter, according to the latest figures from the Real Estate Institute of Queensland.
The median price was based on 1,867 sales over the three month period with owner occupiers and investors prevalent but first-home buyer numbers falling sharply.
The top performing suburbs were Norman Park, five kilometres east of the CBD and Stafford, six kilometres north of the CBD, with both recording house price gains of 15.8% over the quarter to medians of $770,000 and $498,000 respectively.
The highest number of sales was recorded in the outlying new suburb of Forest Lake being developed by Delfin, with 61 sales. House priced slipped 3.8% to $369,000.
The most expensive suburb was Ascot, with a median house price of $930,750 from 12 sales.
St. Lucia recorded a 28.8% decline over the quarter to a median of $830,000 from 11 sales. For the year St. Lucia sales are down a more modest 4.9%.
In other prestige suburbs, prices fell 7.4% in Paddington off 17 sales and by 4.6% in Bulimba off 21 sales to medians of $740,000 and $880,000 respectively.
In total 44 Brisbane suburbs underwent house price corrections over the quarter while 30 recorded gains.
There was a more pronounced decline in the greater Brisbane market which recorded a 2.3% fall to a median house price of $430,000 off 3,662 sales.
House prices were up 1.7% in Ipswich to $299,900, but fell 2.7% in Logan City to $321,000.
Moreton Bay recorded a 0.8% gain to $445,000 while house prices fell by 1.8% in Redland City to $445,000.
<img src="/images/stories/2013/05/brisbanemay20one.jpg" width="470" height="134" alt="brisbanemay20one">  The REIQ said the Brisbane housing market remained steady with 12 month figures showing a 1% gain for the year to March for Brisbane City median house prices and 0.9% gain for the greater Brisbane detached housing market.
According to the REIQ, it is owner-occupiers who are leading the way with activity levels up compared to last year.
The estimated numbers of investors in the market also continues to be steady with low vacancy rates likely to encourage more investment activity in the months ahead.
“Unfortunately, first home buyers continue to lag well below historical averages and they are about 50% fewer than the same period last year,” Kardash said.
“First-time buyers usually average about 18% of the market but are currently sitting around the 10% due to the removal of the First Home Owners Grant in mid-October last year.
This was replaced by the <a href="/news">$15,000 Great Start Grant </a>(previously called the first-home owner construction grant) in September last year, available for first-home buyers buying or building a new home valued under $750,000.
First-home buyer had until mid-October to finalise their purchases.
“The importance of first home buyers to the overall health of the property market cannot be under-estimated so we hope to again see some assistance for first-time buyers of established property in this year’s State Budget,” says Kardash.
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Brisbane house prices fall 1% in March quarter as first-home buyer participation dwindles to 10% of market: REIQ

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Quest Serviced Apartments has appointed a new chief executive officer, hired from within the company.
Zed Sanjana, the general manager of the company since 2011, will be the new CEO.
The role of CEO had formerly been filled by executive chairman Paul Constantinou since he founded the business 25 years ago. He will continue as executive chairman.
Constantinou says it was important to separate the two roles because of the rapid expansion of the business over the last decade.
“There comes a point in the life-cycle of every successful business when rapid growth means you must take stock and work out the best way for the business to move forward,” Constantinou says.
“This appointment will enable me to focus on the strategic direction and growth of the Quest Franchise Network, whilst Zed and his team oversee the day-to-day operational aspects of the business.
The business now has more than 150 properties across Australia, New Zealand and Fiji.
Sanjana says he was looking forward to a new challenge.
“The Quest brand is already one of the strongest amongst business travellers. My appointment now leaves Paul free to accelerate the company’s growth while I manage and balance the needs of our franchisees, employees and guests.”
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awalsh-7Ub9EypybQ

Quest appoints new CEO

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Westpac will offer new borrowers a one-year fixed-rate home loan of 4.79% from today, among the lowest home loan rates available in Australia.
Its state-based subsidiary banks St.George, Bank of Melbourne and BankSA have also cut their fixed-rate home loans below 5%.
Bank of Melbourne today announced cuts to its 1, 3, 4 and 5-year fixed rate home loans, including a three-year fixed rate of 4.95% per annum for packaged home loan customers.
BankSA has cut fixed home loan rates for one, three, four and five-year terms, with the three-year fixed-rate being cut by 34 basis points to 4.95% per annum.
St.George has announced that it will cut its fixed home loan rate for 1, 3, 4 and 5 years, effective May 21 for a limited time.
St.George’s new fixed rates under the Advantage package are 4.99% p.a. for 1 year, 4.95%p.a. for 3 years and 5.49% p.a. for 4 and 5 years. St.George’s 2 year fixed rate remains at4.99% p.a.
Westpac briefly offered a two year fixed-rate home loan at 4.99% in February and March.
The new 4.79% Westpac rate is available for customers who take out a packaged home loan and borrow in excess of $150,000 and includes a 65 basis point discount off its standard advertised one year fixed-rate home loan.
The decision to offer a 4.79% fixed-rate follows the release of interim results this month, which showed nearly a quarter (24%) of Westpac customers fixed their home loan rate in the six months to March 31.
This was up from just 13% in the previous six month period.
Westpac also offers a reduction of 100 basis points off its current headline standard variable rate of 6.26% on mortgages over $500,000, 90 basis points on mortgages between $250,000 and $500,000 and a discount of 70 basis points on loans over $150,000.
Figures from RateCity.com.au have the proportion of fixed-rate home loans at 18.45%, the highest in five years. 
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Westpac ups the ante in mortgage wars with one-year fixed-rate cut to 4.79%

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Melbourne’s weekend auction clearance rate was 13 percentage points higher than the same time last year, according to the Real Estate Institute of Victoria.
It recorded a clearance rate of 73% at its weekend auctions compared to 60% the same time last year.
It was also up from last weekend which had a clearance rate of 70%.
The REIV says after a small dip in the clearance rate over the school holidays the market has returned to this year’s underlying trend.
It says the recent interest rate cut should help to further boost buyer sentiment over winter.
Of the 617 auctions recorded by the REIV, 453 sold and 164 passed in – 96 of those on vendor bids.
The cheapest house sale recorded was a <a target="_blank" href="https://www.realestate.com.au/property-house-vic-doveton-113587363">three-bedroom, 1-bathroom house on Tristania Street in Doveton</a>, near Dandenong, which sold for $270,000.
In 2011 it was on the market for $290,000 but did not sell, according to RP Data.
According to the REIV, $333 million of property changed hands via auction and $300 million in private sales.
There was a median sale price of $744,500 for houses and $508,750 for units.
REIV’s statistics closely match RP Data’s which found there was a weekly auction clearance rate of 72.7% in Melbourne in the week to May 19. It recorded 596 auction results through the week of which 433 sold.
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Melbourne weekend clearance rate up from last year: REIV

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Melbourne is well known as the real estate auction capital of Australia – and possibly the world.
Year to date, over $4 billion homes have been sold via auction (compared to $2.9 billion for the same time last year), a number which would include properties sold ‘prior to’ and via a ‘passed in’ negotiation, all of which count towards the weekly clearance rate.
In the current atmosphere in which sentiment has improved, larger percentages are gaining enough competition to sell ‘under the hammer’ and this has certainly been so from an anecdotal perspective.
The auction process obviously thrives in an atmosphere where confidence predominates and most selling agents are well educated in the means of manipulation to inspire buyers to openly state their interest in front of a crowd of individuals on a Saturday morning.
If a couple of bidders are brave enough to commence the battle, others have their initial attraction to the property demonstrably ‘fed’ by the competition and join in – conversely, if no-one openly states an interest, the reverse can be the case, leaving potential buyers wondering ‘what’s wrong with the home?’
Each scenario – played out in the public arena – causes a roll-on effect across the market either boosting sentiment, or delaying the onset thereof; however, once confidence does take hold, the 'act now or miss out' frenzy is perpetuated, laying down the foundation for a typical boom bust cycle.
Auctions are marketed as a transparent way to sell real estate; however aside from the openness of the public event itself, the pre-sale process is anything but transparent.
Like a good retail sale, the key for the three week campaign preceding the auction is to get buyers through the home initially which in Melbourne, results in agents encouraging the vendor to withhold their reserve price to enable a “conservative” estimate of value – as either a verbal or published quote range – to glean as much buyer enquiry as possible.
In my own experience, I have seen these ‘conservative’ estimates as low as the nominal value the current vendor paid some six or so years ago – with a ‘+’ thrown in for good measure.
The idea is ‘sold’ to the vendor via explanation of the “buyer pyramid” – it works a little like step quoting – get the lower priced bidders to build momentum during the auction to fuel those bidding with ‘deeper pockets’ to step in at the end.
In reality, real expectation is often a good percentage above the quoted range with excuses such as “the vendor’s reserve can change” used to waylay future complaints.
Without the lower budget bidders, auctions can pull up short without the usual mania that has, in our boom eras of growth, significantly contributed in pushing prices to unsustainable levels.
In a market where auctions predominate, the price multiplier effect buoyed on through the physiological stimulant this method of selling promotes, results in prices gaining much stronger traction that would be possible in most private sale campaigns – something that has been <a target="_blank" href="https://www.sciencedirect.com/science/article/pii/S0749597804000925">well documented</a> in various scientific studies.
 
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Although other states have a larger percentage of private sales, the auction system, when used, is just as opaque. In Brisbane for example, it’s apparently <a target="_blank" href="https://matusikmissive.com.au/2013/05/15/auctions-and-why-the-agent-cant-answer-your-price-question/">‘the law’</a> to dodge any responsibility to give an accurate indication of vendor expectation - with an act that reportedly ‘limits’ what real estate agents are ‘allowed’ to disclose.
As if deliberately designed to confuse buyers – selling agents are ‘unable’ to indicate a likely selling range, any hint of a reserve, or an opinion of value.
I can see this methodology eking its way into Victoria if ever we get to the stage of national licensing, with many agents already using their own liberal interpretations of current published <a target="_blank" href="https://www.consumer.vic.gov.au/library/publications/businesses/estate-agents/guidelines-for-real-estate-salespeople-price-advertising-and-underquoting.pdf">‘guidelines’</a> – and whilst I’m sympathetic to the task an agent undertakes when selling a property, I hold the opinion that vendors – who foot the advertising bill - should take a greater responsibility and ensure published price ranges are updated to accurately reflect the range in which they are willing to negotiate.
I’ve commented previously that the “boom years” of capital growth in Australia’s property market – and in principle the inner and middle ring metropolitan areas of Melbourne (which sits at the top of the ‘boom’ chart see <a target="_blank" href="https://www.propertyobserver.com.au/trends/a-history-of-australian-property-values-in-charts-philip-soos/2013051361302?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=trends">here</a>) – have not been lead by population growth as such, rather speculation, ease of credit, and a general expectation from investors (as well as home buyers), that prices will continue to rise.
This is evident from the amount of investor owned stock in the inner and middle ring city suburbs.  These areas contain a larger percentage of units and townhouses for which well over 50%, and in some states over 70%, is rented and owned typically by ‘mum and dad’ baby boomers buoyed on by the policy of negative gearing.
As mentioned previously, the success of negative gearing relies on speculation of capital increases, ensuring supply and vacancy rates sit at a lower percentage than would be the case if we instead concentrated on strategies to increase the supply of affordable ‘quality’ accommodation – (a subject I’ve explored at length before) – and a policy which goes some way in encouraging the ‘head to head’ investor battles I witness weekly, which significantly inflate the value second hand stock on the suburban streets of Melbourne.
And it’s not all that easy to directly align other market variables such as the unemployment rate, wage growth, or even rising rental prices which many assume in theory, will push a greater number of first home buyers onto the ‘ladder’ - with large movements in property prices.  When there’s a rush to invest, it’s more to do with the gold rush spread of optimism that seems to spread like some infectious disease.
It certainly wasn’t the above general market indicators that inspired four bidders (all investors) at an auction I attended last Saturday for an un-renovated house quoted at ‘$700,000 +’ sell $100,000 above the reserve, which due to the rapid pace of bidding, wasn’t announced on the market until $850,000 – albeit, I suspect had the bidding not been quite as frenetic, the reserve would have been ‘called’ at a lower level.
It was evident from the body language portrayed that the remaining two bidders had pushed far past their limit – based on comparable data, the house itself would have struggled to pass a valuation at the purchase price – yet for future sellers in the surrounding streets, the amount paid will set a new ‘benchmark’ and overall vendor expectation will rise – so too for buyers, who will see it as a comparable sale for a similar property of choice and raise budgets accordingly.
The prices achieved in heated auction markets are unsustainable in the long run, and yet the one thing all bidders have in common when caught up in the momentum of an auction, irrationally stretching their budgets - is a speculative ‘hope’ that at some future date, the next generation will be prepared to pay ‘more’ for the home than they did - enabling them to gain a profit over and above both outlay and inflation.
All are assumptions which work whilst the majority hold the same view and fail dismally when the ‘bubble’ of positive perceptions pops under the pressure of the opposing view – which is never completely absent.
The boom and bust cycle is evoked by the market dynamics of consumer sentiment, as those feeling ‘good’ borrow the ‘most’ possible to purchase with ‘positive’ thoughts in mind about rising prices, whilst the opposite reaction predominates when people avoid buying under the general perception that prices are going to keep falling – is something we were all witness to following the ‘peak’ of 2010 during which transaction levels were back to numbers not evidenced since the late 1990s despite other relatively good market indicators (low unemployment and the comforting ‘myth’ of a surplus – not to mention falling interest rates etc.)
 
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For this reason, the real estate industry as a whole makes strenuous endeavours to maintain the perception that prices always rise – or if prices are falling, it’s simply part of the ‘market cycle’ until they start on their upward profit making curve once again.
And they are not the only industry to do so. A vast amount of personal debt is tied up in the property market – not to mention the many retail offshoots that also benefit from rising property prices. Should there ever be a significant downturn – the economy would inevitably suffer as a result.
Therefore, if price rises in our major capital city markets have been primarily inflated through speculative investment, the positive mantra must be maintained to and at the expense of future generations who are going to find it increasingly hard to purchase.
I’ve listened to many an angry agent throw their hands up in pure exasperation at articles produced in the real estate section of The AGE (as one example,) openly remonstrating how any downbeat ‘vibes’ are directly responsible for declines in property prices. Funnily enough, they never complain when the reverse is the case.
And in the USA, where negative equity has affected the larger proportion of home owners, it’s been clearly demonstrated that even occupiers who are employed and own outright, and should arguably be unaffected by a loss in the capital value of their property, resist investing in the general upkeep of their home when values are dropping, spending around <a target="_blank" href="https://insight.kellogg.northwestern.edu/article/housings_albatross/">$200 less on maintenance and improvements</a> per quarter – favouring instead to buy only those items they can ‘take with them’ such as cars and furniture.
The concept that housing is the ‘best investment’ a person can make has been promoted widely throughout the developed world. In the years of boom growth, during which values rose in excess of 200 per cent, the total amount of money banks ‘lent’ into existence through the gradual easing of restrictions surrounding the mortgage lending market, was the core driver of increasing values, aptly benefited those who entered at the start of the lending boom, above those who are now tapping into the bank of ‘mum and dad’ or relying on joint ownership, grants, and a low interest rate environment to push their foot through the door.
The recovery we’re currently seeing is largely lead by the investment sector – with an equal perception that values will maintain their upward trajectory. Albeit, to do so, requires a new generation of bidders to buy into the same speculative mantra – more debt requiring more activity just to maintain the amount of money we have in circulation. Without it, we lose our jobs and our ability to service this growing supply of credit.
Whilst I’m a great advocate for home ownership – particularly for those establishing a family – and recognise the need for investment in the property sector with a long term mindset as part of a diversified portfolio - it’s clear we need to pour a far greater proportion of resources into structuring a plan for effective development, infrastructure being the key.
Albeit, with an historically reducing pool of first-home buyers, an increasing proportion of ‘interest only’ investors, and an ageing population which will provoke the big Australia advocates to hail ‘populate or perish’ - a bit like a doctor telling his patients they will never die, the real estate industry will maintain the myth that prices always rise.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
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