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 Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;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.

Joel Robinson

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

One of Hervey Bay's best-known waterfront landmarks could undergo its biggest transformation in decades, with plans lodged to redevelop the Hervey Bay Hotel &amp; Resort into a four-tower mixed-use precinct combining apartments, retirement living, a new hotel, wellness facilities, retail and an expanded hospitality offering.

The proposal seeks approval to redevelop the 8,981 sqm site at 249 Esplanade, Pialba, transforming much of the existing 1980s-era hotel and resort into a staged masterplanned precinct while retaining the Hervey Bay Hotel as its centrepiece.

Rather than a conventional apartment project, the proposal has been designed as four distinct towers delivered across four stages, each with a different role within the precinct.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="89db2163-cdf2-484e-90a0-9804ece86a31" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%201.png?VersionId=JsYhCwLtFk2p72uhjPQBqQ57.vWoIPeB" />

The largest hospitality component sits within Stage Two, which combines a refurbished tavern, sports bar, gaming lounge, bottle shop, lobby café and wellness facilities beneath a new 52-room hotel and 55 apartments, including 30 dual-key residences. The tower rises 14 levels above the Esplanade and includes gym, spa and wellness facilities together with more than 260 car spaces.

Stage One introduces a retirement living component comprising 69 retirement apartments alongside communal facilities, while Stage Three delivers 59 apartments overlooking the Esplanade. Stage Four includes a retail tenancy at ground level with a further 45 apartments above. Collectively, the masterplan provides 228 apartments across the four towers in addition to the new hotel accommodation.

Urban Planet Town Planning Consultants, acting on behalf of Herbay Pty Ltd, says the redevelopment builds on the long-standing role of the hotel within the Fraser Coast community.

"The Hervey Bay Hotel is an iconic use (notwithstanding the current format) and the retention for this facility in the community as an effective and successful business will advance the goals of the Planning Scheme," the town planner noted in its planning documents.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="cca3617b-693f-40e2-8fa3-f609c2c95d00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%202.png?VersionId=8.hhkMuikoiLvoD6ei655Pj9mTKob4xV" />

The planning report argues the redevelopment responds to demand for greater housing diversity, additional tourism accommodation and expanded hospitality offerings within Hervey Bay's established urban area, rather than continued greenfield expansion.

"The delivery of contemporary services in the form of hotels, dining opportunities and short-term accommodation will be the cornerstone of the proposed development and does have a significant community outcome in the retention and expansion of existing services."

The masterplan has been prepared by <a href="https://www.apartments.com.au/architects/oge-group-architects">OGE Group Architects</a> and features three basement parking levels beneath towers rising to around 14 storeys, creating one of the largest integrated mixed-use developments proposed for the Fraser Coast. The design also incorporates gym and wellness facilities, communal recreation areas, retail space and new landscaped public interfaces across the four street frontages.

The site occupies a prominent waterfront block bounded by the Charlton Esplanade, Thomas Street, Watson Street and George Street, immediately opposite the foreshore and within walking distance of Hervey Bay's city centre, Wetside Water Park and surrounding commercial precinct. The existing Hervey Bay Hotel &amp; Resort currently occupies the site, with buildings dating largely from the 1980s.

First look: Four-tower transformation planned for iconic Hervey Bay Hotel site

The transformation of the Gold Coast’s CBD of <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> is underway with the official commencement of one of the area’s first ‘next generation’ towers, the $200 million Maris residences.

More than 250 onsite and offsite workers will deliver the project being delivered by Malaysian company <a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> and its build partner, <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a>.

The start of construction by Binah follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since its market launch less than a year ago.

The project has attracted predominantly local buyers and downsizers, many of whom who live and work in the CBD or the nearby Health and Knowledge precinct.

[smartcode_project:default project_id=134403 project_image_fid=372756]

The commencement of construction was marked by an official sod turning ceremony on site today (Friday, August 7).

MRCB International CEO Ravi Krishnan said MRCB was delighted to be playing a part in the transformation of the Southport precinct.

“We’re very aware of the importance of Southport as the CBD hub of the Gold Coast and the need for high-quality residential facilities for locals who live and work in the area,” said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

&nbsp;

[smartcode_project:default project_id=134403 project_image_fid=350661]

Binah's Managing Director Khalil Hafza said the company was delighted to be constructing Maris in its first foray into the Gold Coast market.

“Binah has been in Queensland for some time but we are very pleased to be given the opportunity to construct a project of such magnitude on the Gold Coast,"&nbsp;Hafza said.

“Some 250 on and off-site tradespeople and consultants will work on Maris over the course of the next two years bringing significant economic benefits to the Gold Coast community.”

Maris will deliver 192 residences across 20 levels. The project forms part of an Australian and New Zealand development pipeline by MRCB now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70% of residences sold.

[smartcode_project:default project_id=134403 project_image_fid=372760]

Positioned next to the Broadwater in the Southport CBD, Maris will sit directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

MRCB and Binah mark start of construction on $200m Maris Residences in Gold Coast CBD

To say Frank Licastro is keen on Wyandra Street, the small 400m strip that straddles Teneriffe and Newstead, would be an understatement.

Licastro, who runs Frank Developments, first jumped onto the street with <a href="https://www.apartments.com.au/new-apartments/ducale-teneriffe-33-wyandra-street-teneriffe-qld-4005">Ducale Teneriffe</a>, just 26 apartments at 33 Wyandra Street.

With those apartments heading towards construction completion later this year, Frank went again just a few doors down with the recent launch of <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano House</a>, a further collection of 41 apartments at 37 Wyandra Street.

Now Licastro is planning his third building on the strip.

Frank Developments has submitted plans to Brisbane City Council for a considerably larger 147-apartment project across an amalgamated 1,928 sqm site at <a href="https://www.apartments.com.au/new-apartments/22-40-wyandra-street-teneriffe-qld-4005">22-40 Wyandra Street</a>, which also runs through to Wyatt Street.

The Cavill Architects-designed proposal, on the opposite side of the street to Ducale and Munro House, will rise to 22 storeys at its tallest point, stepping down towards Wyandra Street as the building transitions between the higher-density Newstead skyline and the lower-scale character of Teneriffe.

<img alt="Frank" data-entity-type="file" data-entity-uuid="fe60dd88-c9f1-495c-b918-ddfd5dbae504" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-17%20at%207.57.08%E2%80%AFAM.png?VersionId=0cxIChr_1aSNoE3K3VbVl8qNyENf4a90" />

The plans comprise just two one-bedroom apartments, with the project overwhelmingly geared towards larger apartments. There will be 80 two-bedroom apartments, 58 three-bedders, six four-bedroom apartments and a single five-bedroom residence.

The apartment mix continues the owner-occupier focus Frank has pursued across its recent inner-Brisbane developments.

There will be 222 resident car spaces and seven visitor spaces across four basement levels, along with 166 bicycle spaces.

Cavill has approached the architecture as a transition between two very different parts of inner Brisbane.

The site effectively sits on the dividing line between Newstead's high-density mixed-use precinct and Teneriffe's medium-density residential area, something that has heavily influenced the massing of the building.

Rather than presenting as a single 22-storey tower, the building steps up from a 13-storey form towards Wyandra Street to its taller 22-storey element towards Wyatt Street and Newstead. The design documents describe the taller component as the "backdrop massing", with the lower form creating the transition towards Teneriffe.

The architecture itself also changes as it rises.

At the lower levels, Cavill has drawn from Teneriffe's heritage buildings and the tuff stone found below ground, before shifting towards a more contemporary Newstead-inspired tower expression with continuous balconies higher up.

<img alt="Frank 2" data-entity-type="file" data-entity-uuid="3c6953c7-f65c-4ca5-bba0-08c1782b72af" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-17%20at%207.56.33%E2%80%AFAM.png?VersionId=NxHPok5FY.omKhxPVqVWIN9ONqfoQV53" />

Frank is also proposing a significant amount of resident amenity throughout the building rather than concentrating everything on one recreation level.

Amenity terraces are proposed at levels 13 and 16, before another major rooftop terrace at the top of the building. The plans show a pool terrace and landscaped outdoor spaces, with shaded outdoor rooms, tree planting and protected "City Rooms" incorporated into the shared areas.

At street level, the project will also seek to open up the connection between Wyandra and Wyatt streets.

A currently constrained pedestrian laneway along the northern boundary would be expanded, while a double-height "City Room" would be created on Wyandra Street. A separate two-storey outdoor arcade would run through the site from Wyandra Street to Wyatt Street.

The ground floor plans also show food and beverage tenancy space alongside the residential lobby, lounge, office and landscaped public areas.

Cavill says the intention is to create a more generous and heavily landscaped Wyandra Street frontage, with weather protection and public spaces designed to encourage people to spend time at street level.

Frank has been busy across Brisbane and the Gold Coast in recent years, with two ultra-luxury projects under construction in Surfers Paradise, as well as several projects in the pipeline across New Farm and Hamilton in Brisbane.

&nbsp;

First look: Frank Developments triples down on Teneriffe's Wyandra Street

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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Someone was foolhardy enough to propose a petrol station in my home town.
As the <a href="/news">Maleny</a> region is growing strongly and has only one petrol provider, it could certainly use another, more modern facility.
But the avalanche of opposition to the proposal was stunning. People claimed the traffic and petrol fumes would put their kids at risk. Abuse and threats were directed at the proponents and their business (not by everyone opposed to the project, but by plenty of them).
The plan was dropped and the local weekly rag called it a victory for “parent power”.  It was nothing of the sort. It was a loss from which this community may never fully recover.
I refer not to the loss of a petrol station but to the loss of decency and proper process. It is now established that, in Maleny, it’s okay to use threats and intimidation if you disagree with other people’s ideas. The end justifies the means. Maleny is changed forever.
Some claim they were not opposed to the concept of a petrol station, but were against the location. They’re kidding themselves. People would oppose it no matter where it was planned.
I’m quite sure that if someone announced plans to build a children’s playground, hordes of citizens would rise up and form a group with a silly acronym, claiming their kids would be at risk because it would attract drug dealers and paedophiles.
And the fuzzy feeling of victory some Maleny people are feeling will be short-lived. Woolworths, another unpopular presence in the town, plans to build a service station in the town and the retailing giant won’t let something as trivial as public opinion stop them.
This, sadly, is a national trend. Nothing can be proposed without attracting feverish opposition from noisy minorities, dominated by people who use concern for their kids to justify bad behaviour. What we have in Australia today is <a target="_blank" href="?option=com_googlesearch_cse&amp;q=NIMBY">NIMBY</a>-ism on steroids. There are no winners.
Here’s one of the more absurd examples. McDonald’s plans to build a store in <a href="/news">Tecoma</a>, a small town in Victoria. Townsfolk have mounted strenuous opposition.
According to the local paper, their reasons include “crime will increase in Tecoma” and “it’s going to attract a hoon element”. It will also prevent Tecoma from “shutting down after 9pm”, something locals apparently like about their town.
One who opposes this travesty went to the trouble of researching crime at McDonald’s stores across Australia. She found that, over a three-year period, there were 94 instances of criminal activity (including assaults and robberies) at McDonald’s stores. She obviously doesn’t realise it, but she has accidentally supported the case for the development.
There are 958 McDonald’s stores in Australia. The statistics gathered by the Tecoma woman with too much time on her hands indicates criminal activity happens at a rate of 31 incidents per year. That means that only one in 30 stores has any kind of criminal incident in a typical year - and that 927 of the 958 stores have no crime events at all.
How this supports the statement that “crime will increase in Tecoma should the McDonald’s go ahead” is beyond me. I can think of many reasons to oppose McDonald’s but a projected crime wave is not one of them. People in Tecoma need to get a life.
I have written previously on the bizarre fixation some people have with wind farms and the fanatical opposition that mosques generate (while mainstream WASP-type religions can build places of worship without unleashing opposition campaigns from Pauline Hanson clones).
The greatest shame in all this is that the kneejerk anti-anything zealots do a great disservice to people with genuine grievances. The outcry from neighbours of resources companies who routinely breach the environmental provisions of their approvals gets lost in the maelstrom of static from those who see construction of a roundabout or a six-pack unit building as a life-or-death issue.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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terryryder-YECXbqmri2

What we have in Australia today is NIMBY-ism on steroids: Terry Ryder

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Iconic fashion label Dolce &amp; Gabbana will occupy the space at the front of the heritage-listed Mayfair Building, which is currently undergoing a $280 million redevelopment by Charter Hall and Cbus Property at the Paris end of Collins Street.
D&amp;G will lease around 350 square metres of space across the ground and first floor of the 171 Collins Street building in a deal negotiated  through leasing agent Fitzroys.
Rents at the 'Paris end' of <a target="_blank" href="?option=com_googlesearch_cse&amp;q=Collins%20Street">Collins Street</a> are around $4,000 per square metre.
The Mayfair Building was previously the Mayfair Theatre but ran its last curtain call in 1982.
It has since be restored and offers seven floors of boutique offices, each with a space of approximately 250 square metres.
The redevelopment of 171 Collins Street includes a 20-floor office tower which will rise behind the restored Mayfair Building.
The tower will boast a nine-storey atrium in the centre for natural light.
The design is a combination of historical elegance with a contemporary facade, designed by architects <a target="_blank" href="companies/bates-smart">Bates Smart</a>.
"The faceted crystalline facade reflects the right urban fabric and historic elegant of Collins Street like a finely crafted jewel," says chairman of Bates Smart, Roger Pool.
The office tower at 171 will be the future headquarters of BHP Billiton and will offer end-of-trip facilities, such as showers, change rooms, lockers and bicycle air-fill stations.
Around 2,000 square metres of the 30,000-square-metre development will be dedicated to retail, however Dolce &amp; Gabbana will be the only apparel store with food and beverage accounting for the rest of the space.
Collins Street is currently home to luxury brands Chanel, Prada, Hermes, Cartier and Gucci.
Dolce &amp; Gabbana’s flagship store is expected to open mid-2013 with 171 Collins Street scheduled for completion in June 2013.
BHP Billiton will not move in until September 2013.
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Dolce & Gabbana set to open at 171 Collins Street

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I want to spend some time talking about how ‘the collision factor’ can applied to marketing, communications and in general to building business culture.
No, I am not talking about the collisions taking place in the Large Hadron Collider under the Swiss-French border, but about the value of unscripted collisions or interface between colleagues and with customers.
In January I spent some time talking about the many trends and benefits of digital and online <a href="?option=com_googlesearch_cse&amp;q=online%20marketing" target="_blank">marketing</a> and how this area continues to grow massively.
But I think that it is also equally important to retain and value the face-to-face contact that still, in my view underpins successful project marketing and further any sales path will not be successful without a high level of personal engagement between everyone involved.
While a great deal can be achieved in the digital world and many an email will flow during any sale, it’s relationships that count.
Even Yahoo needs the water cooler
Here’s just one example worth thinking about. In late February there was news that some even painted as treacherous when Yahoo CEO Marissa Mayer ordered that her employees work at the office instead of at home.
The question is: how is this related to my topic? And further: where is the relationship with creative marketing to be found? While some people suggest Mayer’s move was more to do with Yahoo’s troubled history, I still think there were a few basic points in Marissa Mayer’s move that are worth reflecting on.
Her mission at Yahoo has been about shaking up the status quo and so while I understand the objections that have followed, I think it is good to shake things about and this also applies to marketing, because we can all become overly comfortable or we can latch onto this or that idea as ‘the answer’.
And so while we are a long way from the problems that Mayer might be facing, the debate she has started is relevant.
From a big picture sense I agree that interactions among employees — the idea dropped at the water cooler, over a coffee, or even a remark as you wash your hands – can sometimes be worth a week of workshops.
I also think the same casual encounters with clients and customers can produce gems of feedback or good ideas. And if we reduce this sort of interaction we are all the poorer.
Collisions between people can also help grow and improve initial ideas so that they can morph into something else, something useful, and this process can be frustrated if caught up in a more formal process.
This is stuff that can’t be captured completely in email while a casual collision can be a refreshing experience, some good or even great ideas can’t be planned because we don’t know what direction creativity will take us, I think that we do better together in an open exchange and always will.
I also think that by being open to different ideas, in particular when we look for a creative idea it’s worth moving away from a form of template approach.
If creative leaders show up to argue their views across varied formats, and this will include digital, then they do a good job.
I have great respect for people who are able to generate new ideas but I also appreciate that being too prescriptive can mar the creativity that some projects desperately need.
While the digital world delivers great results I am willing to strongly suggest that projects, sales teams and marketing groups all need live bodies present and talking face-to-face so there is room for a collaborative approach that does not handicap the results that need to be secured.
From a general perspective I think that the Yahoo example is helpful when we are building teams that will look at what creative and all levels of communications need to achieve, and not concentrate on a particular look or channel of media.
Running into a buyer in the local supermarket or a sporting event who gives some ‘collision’ feedback might just be the idea you are looking for. The result or idea could well be a marketing gem and sales success and I am not that sure the same buyer would email any of us such feedback spontaneously.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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Applying 'the collision factor' to project marketing: Peter Chittenden

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Properties with direct parkland views as well as in close proximity to parks are top performers compared to other properties in a given suburb, according to a report by buyer's advocates, Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
According to the Secret Agent report, the average sales price of park houses (houses opposite or facing parks, or in extremely close proximity) in <a href="/news">Fitzroy North</a> (Edinburgh Gardens) from 2009-2012 was $1,781,833.
In comparison, the average sales price of non-park houses was $969,749 while the average sales price in the whole suburb was $991,491 in the same period.
Similarly, the average sales price of park houses in <a href="/news">Albert Park</a> (St Vincent Gardens) from 2009-2012 reached $3,198,571. In comparison, the average sales price of non-park houses was $1,289,796 while the average sales price in the whole suburb was $1,339,183.
A <a target="_blank" href="https://www.realestate.com.au/property-house-vic-albert+park-113235227">three-bedroom house</a> (pictured below) on St Vincent's Place will go to auction on April 20.
<img alt="secretagentapril9one" height="352" width="470" src="/images/stories/2013/04/secretagentapril9one.jpg">
<img alt="secretagentapril9two" height="157" width="470" src="/images/stories/2013/04/secretagentapril9two.jpg">
<img alt="secretagentapril9three" height="159" width="470" src="/images/stories/2013/04/secretagentapril9three.jpg">
Source: Secret Agent
Secret Agent’s analysis of properties within 200 metres of St Vincent Gardens in Albert Park found that properties on St Vincent Place were at least double the value of their parallel counterparts.
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dleow-BGaNPbHWyK

Properties with direct parkland views fetch higher house prices: Secret Agent

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Citibank has today cut its two-year home loan rate to 4.99% per annum and reduced its three-year fixed home loan rate to 5.14%.
This is the first announced fixed-rate cut in more than two weeks.
The last lender to announce<a href="/news"> fixed-rate cuts was CUA</a>, which cut its three-year fixed-rate to 5.1% on March 20.
A day earlier, Westpac ended its <a href="/news">4.99% two-year fixed-rate promotion</a> pushing this rate up to 5.29% under its package home loan offering.
"Based on recent research, we know that nearly one in three new borrowers locked in a fixed rate on their home loan during March 2013,” says Belen Lopez Denis, head of mortgage marketing at Citibank.
Citibank is offering two other mortgage promotions currently
The bank is offering a free 60-day rate lock which allows customers a guaranteed low fixed rate for 60 days after their application has been submitted, protecting them from rate alterations before their settlement date.
It will also refund the $750 application and switching fee to customers who apply to refinance their current home loan before April 30 2013.
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lschlesinger-FZcF9M3vE6

Citibank cuts two-year fixed-rate home loan to 4.99%

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Australian Property Monitors (APM) has released a list of results from auctions in Adelaide for the weekend of April 6.
<a href="https://www.homepriceguide.com.au/saturday_auction_results/Adelaide.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.
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APM's Adelaide auction results

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The property market has enjoyed yet another week of solid sales, with auction clearance rates and property listings remaining high in both Sydney and Melbourne.
And while the sustained market activity has led some sellers to question when they will be seeing <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CDwQFjAA&amp;url=http%3A%2F%2Fwww.smartcompany.com.au%2Fproperty%2F052463-modest-house-price-growth-will-underpin-housing-recovery-bis-shrapnel&amp;ei=1wxiUer8FKSXigftr4DwBA&amp;usg=AFQjCNEMgr7YEPLfht41QzaHTOGalkzH-w&amp;sig2=6E5wFp4y7Fkb-awh5eiFfg&amp;bvm=bv.44770516,d.aGc" rel="nofollow">more intense financial gains</a>, SQM Research managing director Louis Christopher says the current recovery will be much more sustainable than the last.
Properties are set to gain value over the next year, he says, but at a slower rate than the previous recovery.
"We've already seen prices have been increasing, but just not at the rate of knots we had in the last recovery in 2009," he says.
"That was really quite a surge, and the difference between then and now is the interest rates. We have generally low interest rates right now."
The latest results show Sydney <a target="_blank" href="/news">recorded a higher clearance rate this weekend</a> at 68.9%, according to Australian Property Monitors, based on 358 auctions reported out of 465 listings.
In Melbourne, <a target="_blank" href="/news">clearance rates were lower</a> due to school holidays, although the city still claimed a clearance rate of 64.2% on 168 reported sales.
REIV chief executive Enzo Raimondo said in a statement the real impact on prices will be seen next week, when March quarter median prices will be released.
Louis Christopher says owners shouldn't expect massive gains. The current market is missing two major factors from the last recovery which pushed prices upwards: high interest rates and a first home owners' grant.
Christopher says as a result, we can expect price increases for some time but they will come in smaller increments.
"Stability is good," he says. "It means this recovery will be more sustainable than just lasting 12 months, which is what happened in 2009."
"Even taking into account the unreported auctions, what we're seeing suggests we're entering a market that is returning to normal. It's not in a boom, but it's not in a cold, either."
The number of listings can be expected to decreases as winter grows closer, Christopher says, although clearance rates are expected to remain high.
"We expect the clearance rate to hold at these levels during autumn and winter," he says.
"For first home buyers, there are still challenges because pricing is still relatively expensive. But this is still a reasonable climate for first home buyers. We're not seeing a massive acceleration in prices – so if I was a first-time buyer I'd be researching."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Strong auction clearance rates persist in Sydney and Melbourne

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Heading into the quieter autumn months, the number of residential properties listed for sale rose in all capital cities in March, but still remain lower than a year ago, according to figures from SQM Research.
Nationally, residential listings rose 3.8% from 341,662 properties for sale in February to 354,738 in March.
A year ago there were 362,306 properties listed for sale.
Sydney recorded the largest rise in listings in March; rising by 7.6% or 1,966 properties, but listings are down by 15.7% or 5,170 properties year-on-year.
All other cities recorded monthly gains in the range of 2% to 6%.
However, apart from Melbourne (where listings are up 0.2% year-on-year), all capital cities have recorded declines in available real estate listings compared to March 2012.
“It is our opinion that differing from the recovery witnessed in 2009, the upturn in the Australian property market being experienced at present is a much slower, more normal cyclical uplift,” says Louis Christopher, managing director of SQM Research.
"Without the stimulus of a first home buyers grant (as given in 2009) this recovery is based fundamentally on interest rates cuts spread over a longer period of time and an economy recording moderate growth rates.
“This view fits with why in this current recovery stock levels are not in a state of rapid decline as what was recorded in the first half of 2009.”
First-home buyer numbers peaked in May 2009 following of the doubling of the first-home owner grant to $14,000 for those buying existing homes and trebling it to $21,000 for those buy newly built homes in October 2008.
The full boost ran between October 4 2008 and September 30 2009.
Between October 1 2009 and December 31 2009 the boost was halved.
<img alt="sqmapril8one" height="172" width="470" src="/images/stories/2013/04/sqmapril8one.jpg">
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Residential listings rise 3.8% in March without overall pre-Easter volume uplift: SQM

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Home builders and contractors expect the building industry to improve in the medium term, but are still struggling in the short term, according to the latest quarterly Master Builders National Survey of Building and Construction.
The overall  index rose above the neutral 50 mark over the March quarter, indicating that builders believe their own business activity will improve over the next six months.
But current conditions remain weak.
Own business profitability rose slightly in the March quarter but the index remains well below the neutral 50 mark.
Master Builders notes that "it may be some time before industry profitability improves".
"The index is showing signs of bottoming following a trend decline in the index over the past two years to levels below that recorded during the global financial crisis," says Master Builders.
The “key forward indicator” index for display centre traffic/commercial enquiries rose markedly in the March quarter.


Although remaining below the neutral 50 mark, the index is now higher than the average reading recorded during the past nine years. 

Master Builders says the improvement in this index “may be another sign that the market is finally responding to lower interest rates and that the worst may be behind the building industry”.

The results are based on a survey of more than 500 builders and contractors. 
Peter Jones, chief economist of Master Builders Australia, says while signs of a recovery may be beginning to emerge for the industry, the upswing is coming from a very low base and questions remain about its strength.


“The turnaround in the survey sentiment suggests previous interest rate cuts may be beginning to take hold, but builders are yet to see any benefit from the rate reductions.

“Builders reported less work on the books than in the previous quarter, sales contracts remained essentially unchanged and profits remain weak.

“The good news for builders came in some of the industry’s forward indicators. Display centre traffic and commercial enquiries increased markedly in the quarter and are now higher than the average reading recorded over the past nine years.

“Expectations for industry activity and own business activity also rose to levels above the survey’s neutral reading, which suggests there could be improvement for the industry in the short to medium term,” he says.
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Construction sentiment improving but not yet activity: Master Builders survey

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At the beginning of 2013, some were predicting that the cash rate would drop to around 2% – I remained in the school of thought that it won’t go below 3%.
The gallery remains divided although one can’t help but notice that the <a target="_blank" href="/news">cash rate setting</a> is the monetary policy indicator as to the overall health of our economy.
Retail and real estate suggestions that it must be lower are, in my opinion, self-serving.
The TG Securities Melbourne Institute Monthly Inflation Gauge increased by 0.2% in March for a 2.1% annual pace which just so happens to be the lowest annual inflation result for eight months.
Australia as a nation has <a target="_blank" href="https://www.theage.com.au/business/manufacturing-contracts-for-14th-month-20130402-2h3qp">many economic problems</a> with Australian Industry Group chief executive Innes Wilcox commenting: “The strong dollar, falling selling prices, further cost pressures and the weakness of commercial and residential construction continue to take their toll.”
The head of Australia’s peak business group <a target="_blank" href="https://www.businessspectator.com.au/news/2013/3/28/politics/govt-should-invest-infrastructure-bca">has urged the federal government to invest more in infrastructure</a>, even if it means borrowing for top–priority projects. The only problem is that the federal government has been handing out money to buy the votes of the <a target="_blank" href="https://www.news.com.au/money/money-matters/independent-federal-mps-win-15-billion-for-their-electorates/story-e6frfmd9-1226611161247" title="Independent federal MP’s win $1.5 billion for their electorates.">Independent federal MP’s win $1.5 billion for their electorates.</a>
The Reserve Bank of Australia is responsible for monetary policy not fiscal policy where it should be remembered that in Australia we have approximately one third who rent, one third who own a house with a mortgage and the final third own their house with no mortgage. A difficult balancing act given two thirds would much prefer a higher cash rate with one third relying on a lower cash rate.
I don’t concur with the thought bubble <a target="_blank" href="https://canberratimes.domain.com.au/real-estate-news/we-are-in-an-up-cycle-now-property-agents-rejoice-as-good-news-rolls-in-20130402-2h4gc" title="‘We are in an up cycle now’: property agents rejoice as good news rolls in">‘We are in an up cycle now’: property agents rejoice as good news rolls in</a>with RP Data figures showing that dwelling values (houses and apartments combined) across Australia’s capital cities increased by 2.8% thus far in 2013.
Of course prices should be climbing due to a record low cash rate together with Australia’s population growing by 1.7% in the year to September 2012 which is the highest annual recorded rate since December 2009; this is above the 30-year average of 1.4% according to the Australian Bureau of Statistics.
<img height="308" width="470" src="/images/stories/2013/04/simeonapril8one.jpg" alt="simeonapril8one">
<a target="_blank" href="https://www.theage.com.au/business/mergers-at-eightyear-low-20130401-2h31n" title="Mergers at eight – year low">Mergers at eight – year low</a> previously the resources sector led this demographic market which now appears to be slowing down. Last year Australian companies were involved in 1,037 deals worth $US65.46 billion, a marked decline from 2007, in the peak of the equities boom. In that year, companies locked in $214.7 billion in mergers and acquisitions in 2,267 deals.
 
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This resonates through <a target="_blank" href="https://www.bloomberg.com/news/2013-03-27/australian-homebuyer-confidence-lowest-since-2008-genworth-says" title="Australian homebuyer confidence hits lowest since 2008">Australian homebuyer confidence hits lowest since 2008</a> – while Australian employers added the most jobs in almost 13 years in February and the economy expanded 3.6% in 2012, business confidence and home–loan approvals declined, illustrating continuing concerns about the nation’s economic outlook. These results are more evident in the suburbs that previously relied on high investment bank participation – which is obviously the missing link today.
<img height="461" width="470" src="/images/stories/2013/04/simeonapril8two.jpg" alt="simeonapril8two">
<img height="477" width="470" src="/images/stories/2013/04/simeonapril8three.jpg" alt="simeonapril8three">
I’m a huge fan of Warwick J. McKibbin, who recently posted <a target="_blank" href="https://www.brookings.edu/research/opinions/2013/03/12-australian-economic-policy-mckibbin" title="Poor economic policy must end no matter who wins Australian election ">Poor economic policy must end no matter who wins Australian election </a>– an excellent critique of the Australian economy since 2007:
“Key to improving Australia’s performance will be the move away from populist short – term policy along a path of structural reform that increases the flexibility of the Australian economy. Large investments in infrastructure and efficient pricing of congestion and other problems are needed to drive productivity growth. These investments should be based on independent assessment of the economic returns and not the political returns to marginal seats or the lobbying of vested interests. The Productivity Commission is critical to this process. Most urgently there is need for comprehensive review of current government spending programs and measures to reform the tax system. Australia desperately needs the next prime minister to be a leader rather than one who is a fighter.”
Hear, hear!
Robert Simeon is a director of <a target="_blank" rel="nofollow" href="https://www.rwm.com.au/" title="RWM" style="font-size: 14px;">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a target="_blank" rel="nofollow" href="https://www.rwm.com.au/news/" title="Virtual Realty News" style="font-size: 14px;">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
 
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