<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.

[smartcode_project:default project_id=7877 project_image_fid=355754]

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.

[smartcode_project:default project_id=7877 project_image_fid=355852]

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.

[smartcode_project_cta:default project_id=7877]

Joel Robinson

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.

[smartcode_project:default project_id=151614 project_image_fid=371872]

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.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"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.

[smartcode_project:default project_id=151614 project_image_fid=371890]

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.

[smartcode_project:default project_id=151614 project_image_fid=371877]

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.

[smartcode_project_cta:default project_id=151614]

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.

[smartcode_project:default project_id=136442 project_image_fid=374084]

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.

[smartcode_project:default project_id=136442 project_image_fid=374088]

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 developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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Australian Property Monitors has published its latest information on the average amount of discounting undertaken by vendors around the country.
Gold Coast’s average discount rate for property has increased over April to 13.3% from 10.1% in March.
It is the highest discount rate since June 2012 where it was also 13.3%.
Sydney increased slightly to an average discount of 5.4% in April from 4.9% in March.
Melbourne and Perth both increased by 0.3% however Brisbane, Adelaide and Canberra recorded a lower discount rate in April.
Canberra had the lowest discount rate at 3.9%.
<img height="644" width="470" src="/images/stories/2013/04/vendordiscountingapmapril29onethumb.gif" alt="vendordiscountingapmapril29onethumb">
Source: Australian Property Monitors
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Canberra has the nation's lowest vendor discount rate at just 3.9%: APM

<html><body>
The Gold Coast has dropped from its recent high of 239 average days on the market in March to 225 days in April, in the latest Australian Property Monitors table of time on market.
Property Observer has found some recent sales that experienced a lengthy time on the market and a typically big drop on their original asking prices.
A two-bedroom, two-bathroom unit on West Burleigh Road Burleigh Heads sat on the market for 226 days before selling on March 25.
The unit sold for $314,000 although it had a listing price of $319,000.
The property (picture below) sold in March last year for $379,000 after only sitting on the market for 60 days.
<img alt="goldcoastapril30one" src="/images/stories/2013/04/goldcoastapril30one.jpg" width="470" height="297">
A unit on Gold Coast Highway in Burleigh Heads sold on March 13 for $320,000 after 162 days on the market.
The two-bedroom, one-bathroom unit (picutred below) was originally listed for $335,000 in September last year, after being purchased in May 2010 for $341,000.
Prd Nationwide Burleigh Heads closed both these sales.
<img alt="goldcoastapril30two" src="/images/stories/2013/04/goldcoastapril30two.jpg" width="470" height="297">
A three-bedroom, two-bathroom property (pictured below) on Vatakoula Parade in Mermaid Waters sold at auction on April 21 for $626,000 after 238 days on the market.
Mycheal Carter of Professionals Broadbeach Mike Carter Real Estate closed the sale.
It was originally listed for normal sale in August last year with an asking price of $750,000.
The price was revaluated in February to $695,000 however sold at auction for much lower than this.
<img alt="goldcoastapril30three" src="/images/stories/2013/04/goldcoastapril30three.jpg" width="470" height="298">
Canberra currently has the shortest average time on market at 70 days.
<img alt="daysonmarketapmapril29onethumb" src="/images/stories/2013/04/daysonmarketapmapril29onethumb.gif" width="470" height="642">
Source: Australian Property Monitors
Gold Coast’s average discount rate for property has increased over April to 13.3% from 10.1% in March.
It is the highest discount rate since June 2012 where it was also 13.3%.
Sydney increased slightly to an average discount of 5.4% in April from 4.9% in March.
Melbourne and Perth both increased by 0.3% however Brisbane, Adelaide and Canberra recorded a lower discount rate in April.
Canberra had the lowest discount rate at 3.9%.
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Gold Coast time on market drops slightly to 225 days: APM

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Melbourne postcode 3029 comprising the outlying south-westerly suburbs of Hoppers Crossing and Tarneit received the highest number of applications for the soon-to-be-cancelled $7,000 first-home owner grant over the nine months to March 2013, the Victorian government’s state revenue office has revealed.
The figures come as the Victorian Government announced plans to scrap the $7,000 first-home owner grant on June 30 for existing homes and apartments, replacing it with a $10,000 grant for new homes and apartments only.
These are the Top 10 postcodes for applications the $7,000  first-home owner grant for the nine months from July 1 2012 to March 31 2013:
<img src="/images/stories/2013/04/fhogtop10april29one.jpg" width="470" height="174" alt="fhogtop10april29one">
Source: State Revenue Office
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Hoppers Crossing and Tarneit leads Victorian top 10 FHB grant application locations

<html><body>
The changes to first home buyer assistance announced by the Victorian state government on the weekend continues the trend set the by previous Labor government of using financial incentives to modify buyer choices. This scenario is not uncommon across Australia.
With around nine separate changes made to first home buyer assistance over the past five years in Victoria, most planning to buy a new home would be right to be a little confused and wondering what will happen next. Many will have to save more; some will try and bring purchases forward.
A visit to the SRO website clearly shows policies for first home buyers are constantly changing. In the past few years, we have seen a variety of approaches to helping first home buyers, including:
<ul>
<li>those buying an existing home for less than $600,000 received direct assistance of $17,000 but faced full stamp duty bills (late 2008-mid 2009);</li>
<li>those buying an existing home in regional Victoria for less than $600,000 received direct assistance of $36,500 but faced full stamp duty bills (mid 2009-late 2009);</li>
<li>those buying any home for less than $600,000 received $7,000 in direct assistance and a stamp duty cut of between 20 and 40 per cent (last two years);</li>
<li>those buying an existing home in Melbourne for less than $600,000 received direct assistance of $18,000 but faced full stamp duty bills (first half of 2010).</li>
</ul>
Over the same time, and in response to these changes, we have seen the share of loans taken out by first home buyers be as high as 31.6% and as low as 16.3%. In February, it was 17.5%, lower than the 20-year average of 21.9%.
Click to enlarge
<a href="/images/stories/2013/04/robertlaroccaapril29one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/04/robertlaroccaapril29onethumb.gif"></a>
Not only has the overall number of first home buyers changed, but so too has their choice of dwelling. Before governments provided higher assistance for those buying new homes, the share of grants for new homes comprised 20% of all purchases. In response to very high levels of assistance just for new homes, this share rose to around 56%. Most recently, it has been 30%.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/04/robertlaroccaapril29two.gif"><img src="/images/stories/2013/04/robertlaroccaapril29twothumb.gif"></a>
Source: SRO, REIV
Governments know that first home buyers are very price-sensitive and they will respond to financial incentives. Indeed, in the short term, we expect a rise in the number of first home buyers who seek to avoid losing the $7,000 grant on established homes.  This happened last year in Victoria when the ‘builders bonus’ ended and in New South Wales as well.
Each of the changes has an impact on the market and forces first home buyers to reevaluate their position. From the REIV’s perspective, it really is time that the government stopped tinkering with first home buyer assistance.
The REIV called for, and strongly supported, the introduction of stamp duty cuts as they are an efficient and easily understood way of helping first home buyers. They recognize that the single biggest transactional expense when buying your first home is stamp duty. Indeed, many first home buyers must feel like they spend years saving to pay stamp duty (it makes sense to reduce this impost because first home buyers just don’t have the equity that those buying their second or third home do).
The progressive introduction of the stamp duty cuts was also very sensible as it didn’t provide any shock to the market.
This latest change, where the majority of first home buyers will be worse off, should be the stimulus for a reassessment of how first home buyers are assisted by governments. There seems to be little point of working to make housing more affordable through ensuring adequate levels of supply if, at the same time, the net levels of financial assistance are reduced.
The changes, as they apply to established homes, effectively reverse most of a 25 point cut in interest rates, seemingly running counter to the monetary policy decisions of the Reserve Bank.
With that in mind, surely the simplest and most efficient option for governments would be to charge first home buyers no stamp duty whilst ensuring adequate levels of supply.
Robert Larocca is policy and public affairs manager at the<a href="https://www.reiv.com.au/" target="_blank" rel="nofollow"> Real Estate Institute of Victoria.</a>
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It's time to stop tinkering with first-home buyer assistance: Robert Larocca

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Leading Sydney estate John McGrath says nearby cafe culture is one of the major factors affecting home buyers.
He says the desire for the cafe lifestyle is one the strongest trends attracting buyers.
He quotes statistics which says over-65s are leading the trend towards spending more time in cafes. They have doubled the visits they make to cafes since 2008. Next is the under-25s who have increased their visits by a third.
“Given the strength of this trend, it’s no wonder that properties within walking distance of the local café village are increasingly on buyers’ ‘must have’ lists.,” McGrath wrote on Switzer.
“I think this is particularly so among buyers living on their own in smaller properties. Living alone is a growing trend in Australia and the opportunity to stroll up the road to visit their favourite café for a coffee or a meal is particularly important to them.”
He gives a list of nine areas in Sydney sought after by buyers seeking a cafe culture.
<a target="_blank" href="/news">Lane Cove</a>
<a target="_blank" href="/news">Elizabeth Bay</a>/<a target="_blank" href="/news">Potts Point</a>
<a target="_blank" href="/news">Mosman</a>/<a target="_blank" href="/news">Neutral Bay</a>
<a target="_blank" href="/news">Manly</a>
<a target="_blank" href="/news">Bondi Beach</a>
<a target="_blank" href="/news">Paddington</a>/<a target="_blank" href="/news">Woollahra</a>
<a target="_blank" href="/news">Surry Hills</a>/<a target="_blank" href="/news">Redfern</a>
<a target="_blank" href="/news">Newtown</a>/<a target="_blank" href="/news">Erskineville</a>
<a target="_blank" href="/news">Leichhardt</a>/<a target="_blank" href="/news">Annandale</a>
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John McGrath’s nine cafe society home buying hotspots in Sydney

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Lenders continue to entice conservative-minded borrowers with Citibank today cutting its two-year fixed mortgage plus home loan to 4.89%.
This makes it one of the sharpest fixed-rate home loans in the market currently.
The lowest two-year fixed-rate appears to be a rate of 4.79% offered by online lender iMortgage via its Fusion ProPack home loan, though the loan requires a hefty 25% deposit.
Loan-to-value (LVR) ratios are up to 90% for Citibank fixed-rate mortgages, according to its website.
Since February, Citibank has cut its two-year fixed-rate home loan by 30 basis points.
Belen Lopez-Denis, heading of mortgage marketing at Citibank Australia, said recent research showed we are now reaching the lower band of the RBA target’s interest rate “creating speculation for potential interest rate increases”.
Citibank is also offering a 60 day rate lock, guaranteeing a customer a low fixed-rate offer for 60 days after the application has been submitted.
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Citibank cuts two-year fixed home loan to 4.89%

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The decision by the Napthine Government to scrap its first-home owner grant for established house and apartment purchases from July 1 is simply extraordinary.
They only have to look north to NSW and Queensland to see the folly of their new scheme that offers incentives only for first home buyers who make new home acquisitions.
The Victorian treasurer Michael O'Brien says ending the first home grant for established houses brought Victoria into line with other states.
And what's been their experience?
Certainly terrific one-off headlines about the importance of job creation in the housing industry...and then quite simply first home buyers have gone awol.
The decision by first home buyers in NSW actually leaves the O'Farrell Government with a budget savings windfall given the dramatically reduced take-up of new home acquistion by first time buyers.
The NSW $7 000 first home owner grant for established properties ended on 30 September 2012. The scheme established to assist first home owners instead to purchase or build a new home offers a $15 000 grant from 1 October 2012.
NSW first home grants recipients have fallen from 2631 securing $18.77 million in grants in March 2012, to this March when there was a record low 624 recipients securing just $6.77 million to assist in their purchasing.
The same experience in Queensland which ended its $7000 basic grant scheme last October, replacing it with a $15,000 grant for new homes.
With just 217 grants recorded in the December quarter, the government website argues it will take several months before the impact of the Great Start Grant (previously known as the first home owner construction grant) can be clearly assessed, allowing for the lag between signing a contract and construction to build a home.
There had been a typical 4500 recipients in prior December quarters.
Latest Queensland State Government figures show that in the six months to March 28, there were just 805 first-home owners who received a $15,000 helping hand.
Technically the Federal Treasurer Wayne Swan has abdicated his responsibility when it comes to bringing the states into line.
Last December Property Observer's senior reporter Larry Schlesinger <a target="_blank" href="/news">wrote the Federal Treasurer appeared happy to allow the state governments to break their commitment to offer “universal” first-home owner grants</a> following the decisions by the NSW and Queensland governments to only incentivise new home purchases.
These decisions, aimed at stimulating the residential construction sector, are in clear contravention of state government commitments to provide a “universal” first home owner schemes (FHOS) to all buyers".
Speaking to Property Observer in November, Ray White chairman Brian White said the new grants were distorting the market “and not in a healthy way".
“It’s no longer a first-home buyer’s grant but a builder’s incentive,” said White who labelled it deceitful to describe it as a first-home buyer’s grant.
Of course there are also plenty of commentators, like me, who'd suggest any first home buyer's grant was most likely mis-directed creating unnecessary market distortions - and creating a gift for vendors.
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Ill-directed new home building first-home buyers grant scheme extended to Victoria as Wayne Swan abdicates his responsibilities

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Expectations among economists are that the Reserve Bank will leave the cash rate unchanged at is monetary policy meeting next week.
Chief economists like Michael Blythe from the Commonwealth Bank expect the RBA to leave the cash rate unchanged till the middle of next year and this is also the median forecast of the most recent Bloomberg survey of 25 economists.
Borrowers not wanting to be tied down by a more restrictive fixed-rate home loan may qualify for a discounted variable rate home loan, either for the first 12 months of the loan (called a honeymoon loan) or for the life of the loan (called an ongoing discount loan).
According to Mortgage Choice March figures, ongoing discount home loans accounted for 36% of all loans arranged by Mortgage Choice brokers, with the product particularly appealing to borrowers in NSW/ACT and WA, where over 40% of borrowers chose this loan type.
Honeymoon loans accounted for just 3% of loans arranged by Mortgage Choice brokers.
A discounted home loan may have a deposit or loan size requirement, come with higher fees or only be available as part of a package offering.
And borrowers who take out a honeymoon loan must budget for a rise in their home loan repayments once the introductory period ends.
These are some of the lowest discount offerings of the major banks and non-bank lenders as of April 29:
Discount rate offerings:
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="114" valign="top" style="text-align: center;">
Provider
</td>
<td width="101" valign="top" style="text-align: center;">
Loan name
</td>
<td width="73" valign="top" style="text-align: center;">
Minimum loan size
</td>
<td width="80" valign="top" style="text-align: center;">
Maximum LVR
</td>
<td width="66" valign="top" style="text-align: center;">
Annual fee
</td>
<td width="79" valign="top" style="text-align: center;">
Rate
</td>
</tr>
<tr>
<td width="114" valign="top">
Loans.com.au
</td>
<td width="101" valign="top">
Blackboard Special
</td>
<td width="73" valign="top">
$50,000
</td>
<td width="80" valign="top">
80%
</td>
<td width="66" valign="top">
$0
</td>
<td width="79" valign="top">
4.99%
</td>
</tr>
<tr>
<td width="114" valign="top" style="text-align: center;">UBank</td>
<td width="101" valign="top" style="text-align: center;">UHomeloan</td>
<td width="73" valign="top" style="text-align: center;">$100,000</td>
<td width="80" valign="top" style="text-align: center;">80%</td>
<td width="66" valign="top" style="text-align: center;">$0</td>
<td width="79" valign="top" style="text-align: center;">5.12%</td>
</tr>
<tr>
<td width="114" valign="top">
Yellow Brick Road
</td>
<td width="101" valign="top">
Empower Package Home Loan
</td>
<td width="73" valign="top">
$100,000
</td>
<td width="80" valign="top">
80%
</td>
<td width="66" valign="top">
$0
</td>
<td width="79" valign="top">
5.15% for first year, then reverts to 5.49%
</td>
</tr>
<tr>
<td width="114" valign="top">
Commonwealth Bank
</td>
<td width="101" valign="top">
1 Year Guaranteed rate
</td>
<td width="73" valign="top">
$10,000
</td>
<td width="80" valign="top">
80%
</td>
<td width="66" valign="top">
$8 per month
</td>
<td width="79" valign="top">
5.19% then reverts to “relevant variable rate”
</td>
</tr>
<tr>
<td width="114" valign="top">
iMortgage
</td>
<td width="101" valign="top">
Fusion ProPack Discounted Variable Home Loan
</td>
<td width="73" valign="top">
$30,000
</td>
<td width="80" valign="top">
95%
</td>
<td width="66" valign="top">
$0
</td>
<td width="79" valign="top">
5.24%
</td>
</tr>
<tr>
<td width="114" valign="top">
HSBC
</td>
<td width="101" valign="top">
Value Loan
</td>
<td width="73" valign="top">
$100,000
</td>
<td width="80" valign="top">
80%
</td>
<td width="66" valign="top">
$0
</td>
<td width="79" valign="top">
5.25%
</td>
</tr>
<tr>
<td width="114" valign="top">
Family First Credit Union
</td>
<td width="101" valign="top">
12 month introductory loan
</td>
<td width="73" valign="top">
$20,000
</td>
<td width="80" valign="top">
90%
</td>
<td width="66" valign="top">
$0
</td>
<td width="79" valign="top">
5.30% then reverts to 5.55%
</td>
</tr>
<tr>
<td width="114" valign="top">
Homeloans.com.au
</td>
<td width="101" valign="top">
Ultra Plus 75
</td>
<td width="73" valign="top">
$30,000
</td>
<td width="80" valign="top">
75%
</td>
<td width="66" valign="top">
$330
</td>
<td width="79" valign="top">
5.49%
</td>
</tr>
<tr>
<td width="114" valign="top">
NAB
</td>
<td width="101" valign="top">
Choice Package
</td>
<td width="73" valign="top">
$500,000
</td>
<td width="80" valign="top">
Not disclosed online
</td>
<td width="66" valign="top">
$395
</td>
<td width="79" valign="top">
5.53%
</td>
</tr>
<tr>
<td width="114" valign="top">
Westpac
</td>
<td width="101" valign="top">
Premier Advantage Package + Choice transaction account
</td>
<td width="73" valign="top">
$500,000
</td>
<td width="80" valign="top">
Not disclosed online
</td>
<td width="66" valign="top">
$0
</td>
<td width="79" valign="top">
5.51%
</td>
</tr>
<tr>
<td width="114" valign="top">
ANZ
</td>
<td width="101" valign="top">
Breakfree Home Loan Package
</td>
<td width="73" valign="top">
$500,000
</td>
<td width="80" valign="top">
75%
</td>
<td width="66" valign="top">
$375
</td>
<td width="79" valign="top">
5.60%
</td>
</tr>
<tr>
<td width="114" valign="top">
Commonwealth Bank
</td>
<td width="101" valign="top">
12 Month Discounted Variable Rate
 
</td>
<td width="73" valign="top">
$10,000
</td>
<td width="80" valign="top">
80%
</td>
<td width="66" valign="top">
$8 per month
</td>
<td width="79" valign="top">
5.70%
</td>
</tr>
</tbody></table>
</body></html>

The 12 lowest discounted rates available for home borrowers as RBA likely to hold firm in May

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Balancing a real estate market is not an easy task.  Too much supply and prices fall – too little and they rise and in this respect, years of rapid population growth has played an influence on the Australian real estate terrain.
Additionally, various incentives – negative gearing, grants for first-home buyers, reduced stamp duty rates for off-the-plan sales and new homes, relaxed FIRB requirements - to name but a few - have been introduced, changed, and intermittently withdrawn by government “movers and shakers.”
All have the effect of falsely influencing consumer demand one way or another - sometimes it’s done in favour of the investor, sometimes the home buyer, however in all circumstances any so called improvement in ‘affordability’ invariably results in price increases, of which I have no doubt was the intention in the first place.
The housing boom has fed Australia’s obsession with real estate – and I can fully understand the emotions that surround the debate.  I attended a dinner over the weekend and enjoyed the company of a group of retirees who have all benefited nicely from rising property prices over our golden years of growth.
Most around the table owned a small portfolio of investments and once they discovered my current employment status, wasted no time recounting how investment in property – of which their parent’s generation had been unable or too cautious to explore – had paved the way into what was now, a relatively comfortable retirement.
When they purchased their first homes – Melbourne and Sydney were growing rapidly. Supply was good, low rise apartment blocks were popping up along local streets; there was massive investment in infrastructure – roads, schools hospitals, public transport etc. The then ‘outer suburbs’ were far more facilitated than our current comparable ‘fringe’ localities and the higher inflationary environment benefited their footsteps into property investment nicely.
However, the question all wanted answered was - ‘are we in a bubble’ and if yes, ‘will the housing market crash?’
It’s possibly the most common question I’ve been asked to date when talking about real estate – and understandably so. Prior to the GFC, following a global 'borrowing' shopping spree of cheap credit, Australia’s ‘too big to fail four’ were amongst the world’s most heavily exposed to the residential real estate market, with a grand total of 59% of loans offered to this sector alone.
Mortgage debt – the largest component of all debt in Australia, has ensured Australia’s banks are as ‘pinned’ in their reliance on the ever-expanding growth of our resident population’s desire to borrow and buy, as is everyone else who has a hand in the pie – aptly benefitting those who got in at the start of the ‘lending boom’ against those who now find themselves in a far more challenging environment.
 
<hr class="system-pagebreak">
As Canstar’s Steve Mickenbecker recently commented during a <a target="_blank" href="https://au.finance.yahoo.com/video/reducing-private-health-premiums-023055241">video interview</a> on Yahoo Finance last week, Australian’s are “paying double what they were 10 years ago to get into the (property) market”, despite wages rising “by half that.”
Although property cycles are evident in all market economies, I’ve said previously that assessing the immediate future based on our long term past will not produce the desired result for those imagining that the property market can sustain an inflationary upward curve, in line with our previous ‘golden years of growth.’
Notwithstanding, RP Data have not been slow in suggesting a range of suburbs predicted to <a target="_blank" href="https://www.news.com.au/realestate/buying/time-to-buy-property-prices-to-double/story-fndban6l-1226626822141">double in value</a> over the next ten years.  Under such a suggestion, buyers could find themselves faced with a bill for close to $1Mil for a basic inner city second hand unit.  No wonder RP Data caution investors to view the ‘free’ report as a ‘starting point’ – general advice only in return for an email address.
Last week the RBA expressed concerns about growth expectation in an address to the Citibank Property Conference entitled <a target="_blank" href="https://www.rba.gov.au/speeches/2013/sp-so-230413">“Housing and Mortgage Markets: The Long Run, the Short Run and the Uncertainty in Between.”</a>
The speech was interesting, but perhaps should have just lead with the word ‘uncertainty’ because whilst they make it quite clear the future is not going to look like the past – for which they employ the term a ‘new normal’ – it’s also clear they have little concept of how this ‘new normal’ will look.
Understandably, they note a recent recovery in dwelling prices which they advocate ‘makes sense’ given the steady decline in interest rates. This is the one reason we’re being bombarded with ‘how affordable’ the market is at present.
However, it’s a funny old world where house prices can romp past the rate of inflation and wage growth ending at historic highs, and despite the recent ‘slump’ in transactions and values, which saw a fall of some 6 per cent nationally, be back on the road to recovery, with established metro prices romping on towards their 2010 peak.  Yet, at the same time, first time buyers are consistently told – it’s ‘never been more affordable to buy’ because ‘cheap credit’ is currently in abundance.
Of course, there’s no mention of what will happen to those homebuyers when rates do eventually rise – which, if not in the foreseeable future, they inevitably will.
The RBA have voiced little concern regarding our high personal debt levels (household debt to income ratio remains stubbornly at some 150 per cent) noting thus far, serviceability is well maintained.
However, the risk is ever present.  High levels of debt – when followed by downturn in house prices generally result in a greater reduction of economic growth and subsequently an increase in unemployment.  In other words – the debt level is fine, as long as the party continues – but are there any rumblings on the horizon?
As referred earlier, one we approached any question of a ‘bubble’ the conversation I had round the table Saturday evening was an interesting one.  When the subject of lending standards arose, the general consensus of opinion reiterated was the ‘new’ prudent environment which all imagined went hand in hand with the assumption banks no longer lend ‘more’ than an individual’s income can service.  Or as the RBA termed it;
“Broadly speaking, mortgage lenders decide how much to lend to a household by working out the repayment they can reasonably make, given the household's income and other factors. For a given interest rate, this then backs out to a loan amount.”
 
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I only wish I had evidence of this to hand.  Whilst first-home buyers may find it challenging to gain finance for their initial purchase, and the environment is admittedly more ‘prudent’ - the last few conversations I’ve had with investors have revealed some concerning trends.  Even in our post GFC environment, most were offered loans far in excess of what they could comfortably service, yet understandably, all chose to accept less.  I readily admit this is only anecdotal evidence – however, clearly, for those who hold existing assets, lenders are unsurprisingly not averse to pushing the boundaries – with loan to value ratios still available at <a target="_blank" href="https://www.macrobusiness.com.au/2013/04/cba-pulls-back-mortgage-lvrs-sort-of/">95%</a>.
But as for the future predictions, it’s somewhat ironic that Luci Ellis – who holds the title ‘Head of Financial Stability Department’, can give what is essentially a speech full of 'unknowns' and a few well publicized <a target="_blank" href="https://www.macrobusiness.com.au/2013/04/rba-drops-the-ball-on-housing-supply-again/">inaccuracies</a>, which, if anything, it reads like a thesis of 'mights'..
“We don't have a strong view about whether the ratio of prices to income should be mildly rising, falling or constant from here”... “we think it is very unlikely to return to its 1970s levels, or to rise rapidly once again”
“We don't know exactly what the saving ratio will do in the period ahead”
“We don't think it will necessarily return to the level in the 1960s and 1970s,” 
“We think it is very unlikely to return to its 1970s levels, or to rise rapidly once again”
They make the point that they don’t want “banks to ease their lending standards to make more loans and bring back the boom times. Nor would we want them to cut costs in a way that impinges on their risk-management capabilities.” As if wishing for some kind of ‘goldilocks’ outcome in an environment in which they have marginal control.
However, for my friends around the dinner table on Saturday evening, hotly debating a potential property bubble, the following comment from Ms Ellis would have perhaps been worth a mention.
“we certainly can't rule out the possibility of a major housing downturn in the longer-term future. It is hard to know exactly what the outcome would be because it depends on how we got to that point. Institutions differ across countries, so we can't simply extrapolate from experience elsewhere. And there would need to be another boom first.”
In light of our personal debt levels, I don’t believe a drop in house prices need be pre-empted by another boom.   Albeit, keeping property prices afloat is no hard task in a country awash with policies that encourage investment into our limited established housing market.
We can argue the case for and against such policies with passion, citing old concerns that many first time buyers have ‘inflated expectations’ or an un-willingness to move into cheaper markets, however what cannot be argued, is the widening gap between existing owners and initial buyers which has slipped to the lowest ‘seasonally adjusted’ level since March 2004.
Viewing housing as merely a tool to build wealth and drive the economy takes a fair amount of manipulation.  It’s not hard to keep prices inflated – and if the worst happens, relaxing rules on foreign investment and providing a boost of cash grants as we did during 2008 would – based on recent history – be the accepted move.
Therefore, whilst there’s no doubt even in the collective mind of the RBA that property prices are sitting at a peak, there are plenty of variables to the questions of when, if, and how likely they are to drop.
Rather the question remains – how much higher can they possibly be pushed at the expense of a new generation of renters, who have long given up on the Australian dream?
Under the current system, we’re speedily widening the economic gap between the asset rich and asset poor. In this respect, the belief in giving the underdog a "fair go" as a key part of our collective culture – doesn’t quite extend across the socioeconomic boarders manipulated through high housing costs.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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The certainties and uncertainties of Australia's housing market: Catherine Cashmore

<html><body>Australian Property Monitors (APM) has released a list of auction results in Adelaide for the weekend of April 27. <a rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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