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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With an economy that is 13% bigger than before the recent GFC and having enjoyed revenue growth of 7%, the federal government’s crying over ‘powerful global forces’ conspiring against its surplus promise is crocodile tears.
These figures would be the envy of any Australian household or business.
There has been positive actions such as increasing the concessional super contributions for people over 60 and removing the draconian excess contributions tax, however where this federal budget has succeeded most is in creating additional unnecessary bureaucracy.
The introduction of a levy to fund a super committee to look at a committee to do what the government should be doing is ill-considered and wasteful.
Instead, I would have preferred to see more expenditure (than the $5 million) on improving the nation’s financial literacy.
The $112.4 million set aside to support Australians downsizing their homes is also a positive outcome; however the 10-year exemption rules and other limitations are another example of a good policy hamstrung with administrative compliance or unnecessary complications.
On superannuation, the government’s initiative on taxing super fund earnings in retirement over $100,000 will mean that business retirees potentially pay more tax on investments in super than outside of super, which fundamentally defeats the purpose of an effective superannuation system.  
The federal budget should be setting the nation up for hope and increased confidence rather than disillusionment.
In response to this budget I would like to see a Coalition plan that helps drag Australia out of gloom and doom, which ensures the safety of our AAA credit status and encourages small to medium as well as big business to expand and grow through innovation and employing aspirational Australians.
Ken Raiss is a certified accountant and director of <a rel="nofollow" title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" target="_self">Chan &amp; Naylor</a> national accounting firm.
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The budget should be about setting Australia up for hope and confidence: Ken Raiss

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GPT is set to resume negotiations with Australand five months after a $2.8 billion bid to acquire Australand’s investment property portfolio and commercial and industrial businesses was rejected.
An alternative proposal for a block share trade of Singapore-based majority shareholder CapitaLand’s 60% holding of Australand is reportedly though still a “firm” possibility, according to the Australian Financial Review’s Street Talk column.
Apparently the block trade proposal caused tempers at GPT to “hit boiling point” last week with the commercial property landlord convinced it had been played a “stalking horse” to encourage CapitaLand’s exit.
There has been no official announcement from either GPT or Australand about a resumption of talks.
GPT was expected to make a higher offer for Australand in February after its annual results were published, but has yet to do so, perhaps caught up in resolving its <a target="_blank" href="/news">class action lawsuit with a group of investors</a>, only settled today with a $75 million conditional agreement.
No date has been set for the resumption of negotiations, according to Street Talk, but it is expected that Australand will demand a higher price than the initial offer.
GPT’s December bid of $2.8 billion was $140 million above the June 2012 book value for the assets, but would leave shareholders holding the residential business as a standalone entity.
CapitaLand undertook a strategic review of its investment in Australand in January last year.
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GPT set to resume takeover talks with Australand but block share trade still possible: Street Talk

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The federal budget has introduced a $112 million scheme to help seniors downsize but commentators have noted it doesn't address state government-imposed stamp duty requirements.
Stamp duty costs are one of the biggest impediments to retirees looking to downsize, advocates for change have said in many submissions over the years.
National Seniors chief executive Michael O’Neill says he cautiously welcomes the scheme but says stamp duty remains a hindrance.
"Any innovative attempts to alleviate the everyday living pressures on Australia’s so-called asset-rich, income-poor retirees without penalty are welcome," he said.
"However, rather than the pension assets test, National Seniors research indicates that it’s stamp duty that acts as a disincentive to downsizing.
"After doing the sums, elderly Australians with stairs and big gardens often find they simply can't afford to downsize after being slapped with state taxes and agent fees."
The Combined Pensioners and Superannuants Association of NSW’s reaction to the budget said the scheme was unlikely to work as stamp duty still acts as a major disincentive to downsizing.
Certain states do allow for some stamp duty concessions for seniors and pensioners.
The<a target="_blank" href="https://www.revenue.act.gov.au/home_buyer_assistance/pensioner_duty_concession"> Pensioner Duty Concession Scheme </a>in the ACT assists eligible pensioners downsizing by charging stamp duty at a concessional rate of $20 if the property is worth less than $412,000. To receive the pension applicants must be at least 64.
In 2008, when the scheme was introduced, Chief Minister Jon Stanhope said the step would address housing affordability.
“This will help free up larger homes for younger families, while easing the burden of looking after a larger home for elderly Canberrans who live alone,” he said at the time.
Following the ACT's introduction of the scheme, the select committee on housing affordability in Australia recommended that all state and territory governments consider stamp duty exemptions for first-home buyers and for retirees who are downsizing their primary residence.
It said stamp duty “discourages people from moving to more appropriate housing types as their circumstances change.”
In 2010 the NSW government introduced a stamp duty concession for seniors buying newly built or off-the-plan accommodation, but that ended in July 2012.
NSW currently has a non-targeted <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/grant_scheme/">new home bonus of $5000</a> for anyone buying a newly built home or vacant land.
In Victoria, card-holding seniors are eligible for a<a target="_blank" href="https://www.dhs.vic.gov.au/for-individuals/financial-support/concessions/rates-and-property/stamp-duty-concession"> stamp duty exemption</a> for properties under $330,000 and then a sliding scale discount for properties up to $750,000.
And in the Northern Territory the <a target="_blank" href="https://www.health.nt.gov.au/Aged_and_Disability/Subsidies/NT_Pensioner_and_Carer_Concession_Scheme_NTPCCS/index.aspx">Northern Territory Pensioner and Carer Concession Scheme</a> allows for an $8500 concession for homes under $750,000.
The Northern Territory also has the <a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/HomeOwnerIncentives/PrincipalPlaceofResidenceRebate/Pages/default.aspx" target="_blank">Principal Place of Residence Rebate</a> which is non-means-tested $3500 rebate for those who have previously owned a home in Australia to acquire another home, or land on which it is intended to build a home.
In May 2012 the managing director for residential of Colliers International, <a target="_blank" href="https://www.propertyobserver.com.au/tax/it-s-time-for-a-major-change-to-stamp-duty-peter-chittenden/2012051454690">Peter Chittenden called for major changes to stamp duty</a>.
“Stamp duty concessions for older people downsizing would see more homes in established areas released onto the market and this would also have the impact of better utilising of existing infrastructure, as many of these homes would be in established areas,” he wrote.
The Real Estate Institute of Australia maintains that stamp duty is one of the major impediments stopping people downsizing.
REIA’s Evgeniya Hawthorne <a target="_blank" href="https://www.propertyobserver.com.au/demographics/reluctance-of-baby-boomers-to-downsize-creating-inefficient-housing-market-reias-evgeniya-hawthorne/2012093056577">wrote about the issue</a> in September last year.
“Stamp duty is the largest cost impediment to downsizing. Appropriate policy needs to be developed to encourage more efficient allocation and utilisation of the nation’s housing stock,” she said.
In February National Seniors Australia called for stamp duty relief in WA ahead of the state election there.
In its WA budget submission, National Seniors recommended the incoming government introduce stamp duty concessions for older West Australians who want to downsize.
“Older West Australians feel they have not shared in stamp duty relief in recent years, which has primarily targeted businesses and first home buyers,” National Seniors' June MacDonald said.
The ABC’s Michael Janda wrote in February that there is a general consensus among economists that “the archaic tax” should be relegated to history.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years. 
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ACT to lead federal budget downsizing seniors home scheme given stamp duty concession availability

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McDonald's Australia has outbid private investors at a packed Burgess Rawson Sydney portfolio auction to acquire its own Preston McDonald's premises.
The 2011-built premises (pictured below) sit on a 2,621 square metre site at the corner of Hoxton Park &amp; Lyn Parade in Liverpool south west of Sydney.
{yoogallery src=[images/stories/2013/05/may15mcdonalds]}
It sold for $6.45 million reflecting a yield of 5.65% on net income of $365,000 plus GST.
Burgess Rawson director Dean Venturato said the McDonald's property and a Hungry Jack's premises in Minto received the highest number of enquiries ahead of the seven-property portfolio auction, which achieved a 100% clearance rate.
“The McDonald's premises are only two year old and they hardly ever come up for auction,” Venturato says.
“It had a 20 year lease with 18 years remaining on the lease.
“Fast food is considered a very good investment because it's recession proof,” he said.
Searches across commercialview.com.au and realcommercial.com.au show no other McDonald's premises currently listed for sale.
The Hungry Jack's premises on the corner of Pembroke Road and Brookfield Rd in Minto, with a 10 year lease to 2020, sold to a private investor for $2.835 million on a yield of 5%.
The portfolio auction brought in a total of $24.8 million for vendors with the highest yielding sale being a regional distribution facility leased to ASX-listed food company Goodman Fielder, currently being upgraded, which sold to a private investor for $3.37 million on a yield of 8.97%.
Goodman Fielder has a 12 year lease on the property with two six year renewal options.
The average yield across the portfolio auction was 6.45%.
Another noteworthy property was the premises of Aldi supermarket in Minto, which sold for $4.88 million on a 5.64% yield.
The premises are leased to Aldi until 2017 with renewal options to 2032 and brings in net annual income of $277,106 plus GST.
Venturato says Aldi supermarket premises are also rarely available for purchase.
More than 200 people attended the auction with Burgess Rawson fielded 870 enquiries prior to auction with 280 contracts issued.
Venturato described bidding as “spirited” with prices around 30% above reserves for five of the properties.
Apart from the McDonald's sale, all the remaining properties were purchased by private investors, with three as investments in self-managed superannuation funds.
The other sales as part of the portfolio auction were:
<ul>
<li>1st Choice Liquor, Erina - $4.5 million (yield of 7.67%)</li>
<li>Childcare centre, West Hoxton - $1.63 million (6.35%)</li>
<li>ANZ Bank, Windsor - $1.176 milion (5.85%)</li>
</ul>
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McDonald's Australia beats private investors to buy its own Preston fast-food premises 

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Bankwest has a distinctly higher proportion of borrowers three months or more behind on their mortgage repayments than parent company the Commonwealth Bank and fellow subsidiary, the New Zealand ASB bank, according to Commonwealth Bank's March quarter update.
The results reveal that the Commonwealth Bank reported unaudited cash earnings for the three months ended 31 March 2013 of $1.9 billion.
Statutory net profit over the period was also $1.9 billion.
The Commonwealth Bank reported that “system home loan credit growth remained modest through the March quarter, with the Group growing slightly ahead of system”.
Total impairment expense was $255 million in the quarter, or 19 basis points of total average loans, but with a higher impairment contribution from Bankwest, acquired by the Commonwealth Bank in October 2008.
The graph below shows the percentage of home loans in the three banking divisions more than three months in arrears with ‘RBS’ referring to the Commonwealth Bank’s retail banking services division.
<img alt="commbank_results" height="300" width="470" src="/images/stories/2013/commbank_results.jpg">
The bank grew its household deposits above system growth with deposit margins remaining “under pressure in a competitive market”.
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Commonwealth Bank reports $1.9 billion quarterly profit but with higher Bankwest home loan arrears rates

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A seniors group says the newly announced $112 million pilot to help seniors downsize their homes was welcomed but unlikely to work.
The scheme, <a href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">announced in yesterday’s federal budget release</a>, is designed to allow seniors to downsize their homes without reducing their age pension.
It will provide a means test exemption of up to $200,000 held in cash for ten years but does not include any stamp duty exemption and applicants will have to have owned their family home for at least 25 years.
The Combined Pensioners and Superannuants Association of NSW says the scheme looks unlikely to work.
“While the downsizing trial for age pensioners is laudable, it’s unlikely to encourage many pensioners to sell the family home and move into a smaller dwelling,” the group says.
“Pensioners welcome steps to make downsizing easier, but the 25-year home-owning rule is unnecessarily harsh and will exclude many because they’ve bought their house in their 40s or 50s.
“The restrictions on accessing money in the means-test-exempt fund will also discourage take-up of the offer because pensioners will be penalised for withdrawing money to pay for essential services like medical care.
“Stamp duty still acts as a major disincentive to downsizing.
"Pensioners living in the ACT will act as a litmus test in this trial, because the ACT exempts older people from paying stamp duty.
"The other states and territories should follow suit.”
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years.
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Seniors group says Swan's seniors house downsizing pilot unlikely to work

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There is no doubt that a heap of overseas investors buying new property in Australia is great for our economy.
It provides thousands of jobs in the construction industry and flows international cash into our coffers.
However, there can be a downside for local investors who get caught up in the hype.
International investors are largely uneducated to the ways and value of the Australian property market. They rely heavily on the advice from sales people who use slick marketing techniques to sell their wares.
Overseas buyers can and often do pay too much for property because they do not fully understand the market they are entering.
In addition, the motivation of overseas buyers may be at odds with their local counterparts. As a rule Australian buyers purchase property to provide a roof over their heads and to make money.
While most overseas investors want to make money they also buy property in Australia to assist with plans of migration into the country. They are often also motivated by the need to get their money out of the country they live in because the economy may be too unstable. Australia has a very well established system of property ownership and for foreigners, so even if their property loses value, at least they can be certain they will maintain control of their asset.
From afar they view the Australian property market as a safe haven that has held its feet while global property markets have faltered.
Australia has traditionally had stringent foreign investment laws and although these have been relaxed in recent years buying into new developments is an easy way for foreigners to get a foothold in the market.
Take for example this development (pictured below) on Mt Alexander Road, Flemington in Melbourne’s inner north.
<img alt="armstrongmay15one" height="342" width="456" src="/images/stories/2013/05/armstrongmay15one.png">
These properties have been marketed to international buyers fetching prices well in excess of $500,000. Once a number of properties have been sold this sets a precedent to determine value of the remaining properties and gives the sales team very powerful tools to market the remaining apartments.
From here the valuers now have data to justify their valuations to the banks to allow funds to be lent against the apartments. The main concern is the valuations have been based on sales to players that are operating under different rules with a range of motivations.
As resales of these apartments begin to hit the market we start to see the impact on the investor. The problem is the foreign buyers who are lining up to buy Australian property are not able to compete in the secondary market due to foreign investment restrictions. Further the marketing incentives such as stamp duty savings and rental guarantees are no longer there. As a result the demand is significantly dampened.
The greatest danger an investor faces is the resale of a new property the first time around because the property value must adjust to a true market value.
For example, <a target="_blank" href="https://www.realestate.com.au/sold/in-18+mt+alexander+rd+/list-1">unit 1213 in this development</a> was purchased in 2010 for $582,500 and while the market conditions where very strong at the time the recent resale price is out of whack with what happened in the broader market.  The property sold in late 2012 for $476,000, taking almost a 20% hit on its original sale price.
The lesson here is developments where the sales are heavily skewed towards international buyers should set alarm bells ringing for local buyers.
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Local buyers should beware the hype caused by foreign investment in the Australian property market: Mark Armstrong

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Age has not slowed the ambitions of Australia’s high-rise apartment king Harry Triguboff.
Turning 80 in March spurred ‘High-rise Harry’ to add to Meriton’s inventory of residential development sites in Sydney with Asian buyers likely to be the primary target for off-the-plan marketing campaigns.
He did reflect on his octagenerian status by hinting at one day handing on the <a target="_blank" href="https://www.propertyobserver.com.au/news/asian-buyers-covet-while-harry-triguboff-considers-one-day-handing-meriton-reins-to-grandkids/2013032260037">reins of his business to his grandchildren</a> while a foray into the <a target="_blank" href="https://twitter.com/Harry_Triguboff">Twittersphere </a>was less successful.
He is currently developing and marketing 2,000 apartments in Sydney having spent more than $300 million in the past 18 months on development sites.
His first project dates back to 1963 when as a clerk, he built his first block of units in the<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/harry-triguboff/2013013159060"> Sydney suburb of Tempe</a>.
May 2013 – Lane Cove
Harry spends $39 million on a <a target="_blank" href="https://www.propertyobserver.com.au/news/harry-triguboff-buys-lane-cove-service-station-with-tower-approval/2013051261299?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">North Shore Sydney service station</a> with plans to build a $300 million residential tower development featuring 440 apartments. The 150 Epping Road site in Lane Cove is acquired from Bob Rose’s Rose Group, which received development approval for the site in August last year.
February 2013 - Mascot
Harry acquires a 31,500 square metre industrial site for $100 million from industrial landlord Goodman Group. The sale is confirmed by Goodman after Meriton leaks it to The Australian. He plans to build 1,000 apartments on the <a href="https://www.propertyobserver.com.au/developments/harry-triguboff-celebrates-80th-birthday-with-proposed-%24100-million-inner-sydney-site-acquisition-and-calls-for-more-rate-cuts/2013030459705?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">19-33 Kent Road site</a> near Sydney airport.
February 2013 – Olympic Park
Harry pays a <a target="_blank" href="https://www.meriton.com.au/blog/meriton-buys-olympic-park-site/">reported $22 million plus to buy a 15,000 square metre</a> site with plans for 300 apartments in Sydney’s Olympic Park. The site offers strong transport links, is a corporate hub with over 100 companies based around the sporting complex bringing in more than 10,000 employees every day.
October 2012 - Rosebery
Harry acquires a former industrial property in Rosebery in inner south-east Sydney with plans to build 200 apartments. Meriton pays $21 million for the site.
August 2012 - Waterloo
Harry purchases on McEvoy Street in Waterloo, with plans for 220 apartments.
July 2012 - Lewisham
Harry spends $48.5 million to buy the <a target="_blank" href="https://www.propertyobserver.com.au/residential/harrytriguboff-s-meriton-buys-lewisham-estates-development-site-for-%24485-million/2012071755616">controversial Lewisham Estates development site</a> which has amended potential for between 377 and 430 units. He boasts that he'd beaten Frasers Property, Toga, Crown Group and Ralan to win the tender. Charlie Demian of the Demian Group paid $8.5 million for the site in 2005.
March 2012 – North Ryde
Harry pays $25 million for a Macquarie Park development site in North Ryde, with plans for a $200 million apartment development covering 330 apartments. The site at 88 Talavera Road, across the road from the Macquarie Shopping Centre and close to Macquarie University, was acquired from property developer St Hilliers, whose construction arm was placed in administration two months later (May 2012) St Hilliers had acquired it in 2007 for $23.5 million.
March 2012 - Chatswood
The biggest site acquired by Harry in 2012 is on Thomas Street in Chatswood on Sydney’s north shore, with approval for 547 apartments. Meriton pays $50 million for the Thomas Street car park with plans for two towers of 29 stories each, one of which will be retained by Meriton as serviced apartments – a growing part of the Meriton business.
December 2011 – North Sydney
Harry acquires a 922 square metre site for serviced apartments at 80 Arthur Street. The sales price is not disclosed. The vendor was the Medi-care Centre Foundation, which acquired the land and office building in 1988 for $14.1 million.
December 2011 – Zetland
Harry acquires a site at South Dowling Street with plans for 400 apartments and “excited by the prospect of further development in the Green Square precinct”. The initial design includes five buildings ranging in height from seven – 20 levels with 360-degree views. Meriton plan to provide a mix of 1, 2 and 3 bedroom apartments with a retail component strip.
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Harry Triguboff’s heaving wheelbarrow: a timeline of Meriton’s growing $300m Sydney apartment site inventory

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The $1.85 million luxury Richmond warehouse conversion at the centre of eviction dispute had a “longstanding” prohibition for use as a dwelling, a summary of the Victorian Civil and Administrative Tribunal (VCAT) ruling reveals.

Furthermore, it was marketed and sold as a residence just a few months after the position became “reasonably clear” that there was no existing or prior rights to use it as a dwelling. 
An email sent to Yarra City Council in February 2010 as part of permit application to"allow buildings and works to the roof-top terrace" declared that the site was “'not currently being used as a dwelling', and 'we simply use the site as storage'."
Four months later it was being marketed for sale  as a luxury converted warehouse residence.
The <a target="_blank" href="https://www.propertyobserver.com.au/https://www.millionplus.com.au/property/residential/11-northcote-street-richmond/102844">three-level warehouse at 5/11 Northcote Road</a> (pictured below) was acquired by Adam Burgess and Margaret Boshell in November 2010 and occupied from May 2011 until their eviction notice was upheld by VCAT in November last year.
{yoogallery src=[images/stories/2013/05/may15richmond]}
They are now suing the previous owner Danyul Gleeson, managing director of logistics and supply chain, Transport Works, as well as the real estate agents who marketed the property, Bennison Mackinnon Armadale, and Brian Pacey of Sargeants Conveyancing in Frankston for allegedly failing to advise them they could not live in the warehouse.
The property was marketed as a an “inner city residence that takes the warehouse conversion concept to new levels of style and success” with the ground floor suitable for as a "living, home office, cinema or recreation zone adjacent to secure garaging for two cars" with upstairs "living/dining areas" and a roof top level providing for "ultimate entertaining featuring stunning decking with spectacular views, an accompanying pavilion and fully integrated barbeque, fridge and al fresco kitchen facilities".
"The perfect marriage of style and substance, form and function. Unforgettable!" the listing concluded.
Presiding VCAT deputy president Mark Dwyer said in his summation that "the term ‘Unforgettable’ has perhaps taken on a different meaning for the applicants in this proceeding".
The case dates back to March last year when Burgess and Boshell were ordered to vacate the premises within 60 days by the Yarra City Council after an inspection revealed it was being used unlawfully as a dwelling when it is located in a Business 3 Zone. 
The couple took the matter to the Victorian Civil and Administrative Tribunal (VCAT) in November last year arguing that it was a “‘home occupation office’ and that “occupation of the premises as a residence was ancillary to its dominant use as an ‘office’” but were unsuccessful. 
In a writ seen by News Limited, they allege that “the former owner and real estate agents made false representations that the property could lawfully be used as a home and was being used as such by Mr Gleeson and his family”. 
The writ says that when the couple inspected the property they found the rooms fully furnished and were told by real estate agents the owners lived there and that the property was the best of the complex because the developer had lived in it. 
They are seeking to recover mortgage costs, conveyancing costs, stamp duty, legal costs and the difference in the value of the property as a residence compared to its zoning as a place of business. 
Damages are also being sought against Brian Pacey of Sargeants Conveyancing in Frankston for allegedly failing to advise they could not live in the warehouse. 
A spokesperson for Brian Pacey's office said he would not be commenting. 
Property Observer also sought comment from Bennison Mackinnon Armadale and from Danyul Gleenson, but received no reply at the time of publishing. 
In the summation of his ruling Dwyer said that “a zone control prohibiting use of the land as a dwelling has been one of longstanding”.
He noted that a successful 1999 development application to develop a large warehouse on the land into six warehouse occupancies, included permission for a five-lot subdivision, including unit 5, the property in question.
Importantly, he added: “None of the plans accompanying these permit applications, nor endorsed as part of the permits, show any internal layout of the warehouse occupancies nor was there any indication in these documents that the proposed use of the premises was for anything other than a warehouse. "
He also noted a letter dated December 16 2009 written in response to an application to build a roof-top terrace, which indicated that the “‘the building is currently used as five separate residential units’, and that the proposed works were for private residential use”. 
In the letter, the council “expressed concern that the existing use of the site as a dwelling was a prohibited use in the Business 3 Zone, and sought further information from the then permit applicant as to whether the premises had any existing use rights for ‘accommodation’”. 
The permit applicant responded by email on 24 February 2010 that the site was “not currently being used as a dwelling”, and “we simply use the site as storage”.
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The $1.85 million Richmond warehouse ‘residence’ at centre of eviction dispute had “longstanding ban” on dwelling use

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With only 15% of Australians feeling confident about the property purchase process last year, Mortgage Choice has released a list of six manageable steps to successful property ownership.
The first step is to start saving early.
Belinda Williamson of Mortgage Choice says most lenders require a deposit of at least 5% of the property’s value, but bigger is better as is may help you avoid costly lender’s mortgage insurance.
“The discipline of budgeting and saving regularly is also great preparation for managing the ongoing costs of property ownership,” says Williamson.
Secondly, it is important to know your home loan options to set realistic savings targets and timeframes.
Williamson says it is crucial to set aside time with a professional mortgage broker to explore the loan types available to you, including how much you can borrow and the deposit size needed.
Thirdly, you can get ahead by having your finance pre-approved.
Those who have their finance pre-approved may be more attractive to sellers.
“Loan pre-approval lets you head into the purchase process knowing the maximum amount you have to spend on the property,” says Williamson.
Williamson says this gives you confidence to buy at auction or negotiate on price to save you time looking at places that aren’t in your price range.
“Keep in mind pre-approved finance is typically a limited time offer and it does not lock you into a loan,” says Williamson.
It is important to look carefully at the sale contract and to make sure there is enough time for pest and building inspections.
Williamson says to look if the contract includes a cooling off period or is subject to a finance clause.
Williamson says in order to finalise your finance you need to have all of your up-to-date financial details on hand.
This includes verifying your current income, savings and assets as well as liabilities – including any outstanding debts or loans.
“In preparation for unconditional loan approval, your mortgage broker will provide a list of all the documentation you will need to have ready so that the application proceeds as quickly as possibly,” says Williamson.
Lastly, Williamson says to gather useful information about the property before settlement, such as electricity and gas suppliers.
Williamson says to know when the strata and/or council rates are due, if there are any priority repairs or maintenance or any other associated costs.
“There will always be eventualities that can’t be planned for but if property buyers start with the aspects of the property purchase process that are within their control then the sale will typically run smoothly,” says Williamson.
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