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 Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;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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Sydney can look forward to a positive 2013 with increased buyer and seller activity thus far, according to the latest market report by Australian Property Monitors (APM). 
According to APM, there are 28,000 properties listed for sale in Sydney, nearly 17% less than a year ago and approximately 13% lower than the long-term trend. 
Furthermore, the average discount required to sell a Sydney property fell from 6.3% a year ago to 5.8% as of February 2013, below its long-term average of 6.5%. 
Average days on market in Sydney increased marginally from 94 days a year ago to 95 days as of February 2013 – the long-term average is 82 days. 
"Sydney has certainly been the strongest performer of all the major capital city markets," says APM senior economist Dr Andrew Wilson.
"The Sydney median house price is at record levels and is the only capital city to have its house price at record levels. Other capital city markets are yet to recover to their previous highs," he said in a <a href="https://media.theage.com.au/property/domain/sydney-and-melbourne-markets-on-the-rise-4157788" target="_blank">Fairfax Media video bulletin</a>.
APM has Sydney house prices up 1.5% over the three months to January with a median price of $658,000 and units up 1.7% to a median of $474,000.
Wilson says Sydney is being driven by high rents and a generally solid housing market, which "continues to drive forward and motor on as a leader of capital city house market performance".
“Weekend auction clearance rates have been impressive, tracking nearly 20% higher than those recorded over the same period last year,” says APM. 
“Early season clearance rates have been similar to those recorded during the boom period of autumn 2010 and are a positive indication of rising market confidence.”
Signs are also emerging of a more generalised lift in Sydney buyer activity, with increased sales in the prestige market. 
“Auction listing numbers are also on the rise and are clearly higher than for the same period last year. This indicates rising seller confidence in the Sydney market,” says APM.
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"Solid" Sydney property market the strongest capital city performer: APM

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This year is turning out to be a good one for property.
The cycle is moving on and, as growth returns to our property markets, memories of the last few difficult years will fade.  
However, it would be a pity to have lived through the challenging times we all experienced in the last few years without learning some lessons so that we are not destined to repeat the pain.  
So what did you learn from the downturn?  
Probably the most important lesson we can all learn is to never get too carried away when the <a href="https://www.propertyobserver.com.au/news/the-10-insights-into-the-2013-property-market-what-why-when-and-where-to-look/2012121658500" target="_blank">market</a> is booming or too disenchanted during property slumps. Letting your emotions drive your investments is a sure-fire way to disaster.  
To ensure you never get caught again, let’s look at five big lessons from the last few years.  
Lesson 1: Neither booms nor busts last forever
During a boom, everyone is optimistic and expects the good times to last forever, just as we lose our confidence during a downturn. Our property market behaves cyclically and each boom sets us up for the next downturn, just as each downturn paves the way for the next boom. 
Let’s face it: while the news is much more positive today, we know that over the next few years the buoyant market conditions will be followed by a property bust and then another boom. And over the next decade or so we’ll probably have a recession and we’ll most likely have another depression one day.
The lesson from all this is that even as you take advantage of our rising property markets, you should get prepared for the next phase of the property cycle. During the last cycle, most investors didn't really have their downside covered or their upsides maximized.  
Lesson 2: Beware of doomsayers
For as long as I have been investing - and that’s close to 40 years now - I have heard people with excuses as to why property prices will stop rising, or even worse, why property values will plummet. However, in that time, well located properties have doubled in value every eight to 10 years.  
Fear is a very powerful emotion, and one that the media use to grab our attention. Sadly, some people miss out on the opportunity to develop their own financial independence because they listen to the messages of those who want to deflate the financial dreams of their fellow Australians.  
Lesson 3: Follow a system
Smart investors follow a system to take the emotion out of their decisions and ensure they don’t speculate. This may be boring, but it’s profitable. Let's be honest, almost anyone can make money during a property boom because the market covers up most mistakes. But many investors without a system find themselves in financial trouble when the market turns.  
Warren Buffett said it succinctly: "You only find out who is swimming naked when the tide goes out." In other words, if you aren't following a system that works in all market conditions, you will be caught naked when the market changes.  
If you prefer to have consistent profits and reduced risk, follow a proven system. Make your investing boring so the rest of your life can be exciting. 
 
<hr class="system-pagebreak">
Lesson 4: Get rich quick = get poor quick
Real estate is a long-term investment, yet some investors chase the “fast money”. You’ve probably met people like that - they look for that deal that will make them fabulously rich. When you see them a year later, they’re usually no better off financially and still talking about the next deal that will make them rich.  
They are often influenced by the latest get-rich-quick artist with a great story about how you can join them and become stupendously wealthy. Their stories can be very compelling, even hard to resist. They often pander to the wishes of people who would like to give up their day job to get involved in property full time, but in reality it takes most people many years to accumulate sufficient assets to do this.  
Patience is an investment virtue. Warren Buffett said it right when he explained that: “Wealth is the transfer on money from the impatient to the patient.”  
Lesson 5: it’s about the property
You’re in the business of property investment, yet during the last boom many investors forgot the age-old property fundamentals of buying the best property they could afford in proven locations.
Instead, they got sidetracked by glamorous finance or tax strategies, and some lost out.
Smart investors do it differently.
They make educated investment decisions based on research and buy a property below its intrinsic value in an area that has above-average long-term capital growth and then add value creating some extra capital growth.
These are just five of the many lessons that I trust you learned from the recent property downturn.  
We know that in some regions the pendulum swung too far into the positive during the last property boom, driven by greed, and then swung too far into the negative during the downturn, driven by fear.  
Learn the lessons that this downturn has taught us and the rollercoaster ride will not be as dramatic next time because you won’t let emotions drive your investment decisions. Both fear and greed will drive you down the wrong path.  
Promise yourself that as the property market rises you won't get too excited, then when the next downturn hits (and you know it will) you can just confidently smile because you learnt the lessons that this downturn has taught you.  
Decades from now you will be able to tell your children and grandchildren that you survived the Australian property slump following the Global Financial Crisis and it taught you well.
Michael Yardney is a director of <a rel="nofollow" href="https://www.metropole.com.au/">Metropole Property Strategists</a>.
 
 
 
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Five investing lessons you should never forget: Michael Yardney

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The past week has seen a five-day reduction in the amount of time Melbourne houses are spending on the market, according to the latest information from RP Data.
In the week to March 31, Melbourne houses spent an average of 45 days on the market before being sold, while in the previous week Melbourne houses spent an average of 50 days on the market.
A five-day reduction also occured in Brisbane, where houses spent an average of 77 days on the market before being sold, down from 82 the week prior.
Click to enlarge
<a href="/images/stories/2013/04/rpdatatomapril4.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/04/rpdatatomapril4thumb.gif"></a>
‘Time on market’ (TOM) is simply the average number of days between when a property is first listed for sale and the contract date.
The statistics are calculated across results received by RP Data overthe past week and include properties transacted over the past four weeks.
The data is based on private treaty sales only and records without a valid sale price have been excluded from the vendor discount analysis.
The analysis also excludes results where there are less than 10 observations.
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Melbourne houses selling five days faster: RP Data

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The number of dwellings approved for construction rose 3.1% in February in seasonally adjusted terms, after falling for two months, the latest ABS data shows.
This follows a 2% fall in January (upwardly revised from a 2.4% decrease).
Approvals are up 12.8% over the year.
“We have seen indicators of consumer sentiment improve over recent months and we may well be seeing an early sign that this is flowing through to activity on the ground. After two consecutive months where approval numbers slipped back it is pleasing to see a material improvement in February,” said HIA economist, Geordan Murray.
Master Builders Australia chief economist Peter Jones welcomed the improvement in February but expressed concern that a negative trend has developed. 
“Despite the improvement in the seasonally adjusted figures that were buoyed by an unusually high public sector housing figure, a negative trend has emerged in the ‘other’ dwellings sector (units and apartments). 
“The overall negative trend in approvals is very worrying for builders. Despite green shoots and early signs of a recovery, momentum has failed to build," he said.
Dwelling approvals increased in February in South Australia (23%), Western Australia (5.3%), Queensland (3.8%) and Victoria (0.3%) but decreased in New South Wales (-7.7%) and Tasmania (-5.8%) in seasonally adjusted terms. In seasonally adjusted terms, approvals for private sector houses rose 0.5% in February.
However, ANZ also noted the increase was dominated by strong growth in public sector detached house approvals, while private sector building approvals remained subdued (+0.9% month on month).
Private sector house approvals rose in South Australia (9.9%), New South Wales (7.8%) and Victoria (6.3%) but fell in Queensland (-7.7%) and Western Australia (-6.4%).
The value of total building approved fell 3.1% in February, in seasonally adjusted terms, following a rise of 7% in the previous month.
The value of residential building rose 2.5% while non-residential building fell 11%.
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Building approvals up 3.1% in February a "material improvement": HIA

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Retail property landlords have something to cheer about as retail trade rose by 1.3% in February after rising by an upwardly-revised 1.2% in January, the strongest start to a calendar year in more than a decade.
“Retail trade lifted by 2.5% over the first two months of 2013 marking the strongest start to a calendar year since 2001,” said CommSec economist Savanth Sebastian.
“The latest retail sales data is clearly encouraging. The low interest environment, coupled with buoyant share markets, and ongoing improvement in consumer confidence is supporting retail activity,” he said.
Sebastian notes the broad-based strength in retail activity with sales rising in 19 out of the 20 categories.
“In fact the only weakness in February was in specialised food retailers like butchers and bakers, however even that weakness followed the biggest gain in 16 years,” he says.
“Interestingly non-food retailing - which has been finding conditions particularly difficult over the past year - is now recording a healthy turnaround, having posted strong back to back gains in the past couple of months to be up 4.1% on a year ago.
“Over the past year the retail industry had to contend with an array of negative headwinds, however the latest result may just be the first sign of a revival in fortunes for the beleaguered sector.”
ANZ was more circumspect on the performance of the retail sector for 2013 to date.
"At this stage, it’s too early to tell whether the recent strength in retail sales will continue. Nevertheless, interest-rate sensitive parts of the Australian economy are now showing clearer signs of responding to lower interest rates," the bank said.
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Retail sales growth best since 2001 unless you’re a butcher or baker: CommSec

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The Australian housing market revival has continued into 2013 with “solid indications of rising buyer activity and increased confidence from sellers” says Australian Property Monitors (APM) in its latest market report.
“The revival of Australia’s housing markets in 2012 has been confirmed as leading indicators such as auction clearance rates point to a market heating up.
“Historically low interest rates are the fuel to this emerging fire which is no real surprise given the typical impact of low mortgage rates on buyer activity in previous housing growth cycles," says APM.
It adds that housing markets are “off and running in 2013, building on the buyer momentum generated through 2012 but now translating to more generalised and comprehensive market outcomes”.
Fairfax-owned APM has house prices up 1.5% over the three months to January to a median of $544,000 with units up 0.3% to a median of $413,000.
The Gold Coast has shown the greatest gain over this period with house prices up 2.2% though the key Gold Coast unit market has recorded no gains.
All othe capital city markets have recorded gains of 1% or more in their median house prices over the January quarter, with the unit market more patchy.
APM is confident of a return of first-home buyers in 2013, which along with investors were "significant contributors to the housing market revival of 2012".
“First-home buyer activity was largely generated by changes to various state government incentive schemes that acted to draw forward demand from this group.
“After a subdued start to the year, first home buyer activity is set to rise sooner rather than later, driven by low interest rates, a solid economy, and rising house prices and rents.
“Investor activity is also set to intensify in 2013, driven similarly by low mortgage and deposit rates, prospects of improved capital gains, and solid yields from most local markets," says APM.
APM also notes that the sharemarket is also a solid leading indicator of housing market activity, particularly in relation to prestige properties.
“With the All Ordinaries now holding above 5,000 for the first time in three years, a rising bull market will activate prestige markets that are finally showing early signs of emerging from a sustained period in the doldrums.
APM also notes an improved global economic outlook with the US housing market finally showing signs of life.
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Australian housing market “heating up” with FHBs and investors activity to pick-up: APM

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The Bank of Queensland (BoQ) will refund thousands of customers around $12 million after they paid too much interest on their home loans over a number of years. 
Mortgage customers were overcharged due to a computer error that resulted in a failure to link Mortgage Offset Accounts (MOA) to some eligible home loan accounts. 
An offset account is a savings account that is linked to a person's home loan account. 
Any money in the offset account reduces the amount of interest payable on the linked home loan. 
“In this case, BoQ failed to link some offset accounts to home loan accounts, which meant that money held in those offset accounts did not reduce the interest payable on the home loan accounts. As a result, borrowers paid more in interest than they should have done,” explained ASIC. “Current estimates are that the error impacted approximately 6,000 customers and total refunds will be in the order of $12 million,” said ASIC. 
The bank discovered the problem and reported it to the corporate watchdog. “BoQ has agreed to appoint an independent expert to review its remediation processes to ensure that all affected customers are identified and appropriately compensated, and BoQ's compliance systems are adequate to prevent a similar error occurring in future,” said ASIC. ASIC acknowledged the cooperative approach taken by BoQ in relation to this matter. BoQ has already compensated some customers and will ensure that the remaining affected customers are contacted. Customers affected by the error will be advised of their compensation, which will take place over the next 10 months. 
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Bank of Queensland to refund 6,000 customers after mortgage offset error

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The premises of Paul Mathis’s acclaimed FireChief restaurant in Hawthorn East have sold to a private investor for $4.4 million at auction. 
The sale price represented a 5.9% yield. 
This was above <a href="https://www.propertyobserver.com.au/retail/hawthorn-east-premises-of-paul-mathis-firechief-restaurant-listed-for-march-auction/2013031259794" target="_blank">pre-auction expectations</a> of $4 million to $4.3 million.
Fitzroys agents Chris Kombi and Mitchell Humphreys handled the auction campaign, alongside Grita Angelucci of John H Castran. 
The property, at 169 Camberwell Road, Hawthorn East, has two street frontages and comprises a fully refurbished building of around 455 square metres incorporating FireChief plus its “little sister”, laneway café Goldilocks. 
The property is subject to a seven-year lease with two further seven-year terms to Paul Mathis. 
Fitzroys director Chris Kombi said the purchaser was attracted to the rare opportunity to secure a high profile property with a long lease and strong passing income in a vibrant main road location.
Mathis is a celebrated “concept” chef with FireChief renowned for its pizzas, which include a classic minimalist Naples-style pizza and an ‘Aussie’ pizza topped with an egg.</body></html>

Paul Mathis FireChief premises in Hawthorn East sell for $4.4 million

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Often when I write about property investment I am quick to put forward the idea that a home purchase and an investment property purchase are two very different types of ‘buy’.
I traditionally believe that one of the best strategies is to purchase residential property for one dedicated purpose – either as investment or a home to occupy – and then never splice the two.
The truth is, I have not exactly practiced what I preached.
See, I made my start in property <a href="https://www.propertyobserver.com.au/residential/seven-smart-moves-when-buying-your-first-investment-property-cameron-mcevoy/2013011058681" target="_blank">investment</a> in the same way as many others have done; purchasing a property as a home, and then building equity in that property to put down as a deposit on an investment property purchase.
Since then, however, I have moved out of that first home and turned it into an investment property itself.
The key thing to note, however, is that when purchasing that first home – a very modest unit in Sydney’s west – I had purchased knowing 100% what the future use for this property would be; i.e. an investment property. It was never my ‘dream home’ and in truth, it was never planned that way.
What I am getting at is this idea of the purpose of use for a residential property.
Home buyers are very different to investment buyers; each type buying very different types of properties – even if those exist in the same street!
In an ideal world, most investors would have already purchased a home that remains a home, for the entirety of the ownership of that property, and would merely use the equity that builds up in the home to fund future properties.
However, this only works for those among us who have a personal life that is perfectly planned for the future. Not many of us have that.
Additionally, personal circumstances can and do change. Unexpected elements such as moving to another country for work, or starting a family earlier than planned, or needing to move interstate in the future for other reasons; these can mean that the home you purchased in suburb X, with the intention of living in it for the next twenty years, could become an investment property due to personal life elements changing your ‘grand plan’.
Or, you may simply want to get on the investment property ladder, but at the same time, need somewhere to live for a few years whilst saving, and park your money in.
Whatever the reason, I thought today I would create a list of factors to consider if your strategy is to purchase a property that you will call ‘home’ for a few years, and then become an investment property thereafter.
Location, location, location!
‘Yes’, I hear you say, ‘Isn’t location always a factor when buying either type of property?’. Of course, it is; however the definition of a ‘prime’ location differs for homes and investment properties.
Home buyers will look at locations in great school catchment areas; close to shopping amenities, and close to transport for commuting to work. But, so will investors. The difference comes from the other elements. Prestige, for example, is a differentiator.
Home buyers will carefully track the street itself, comparing property types on that street, recent sales, and the ratio of renters-to-owners on that street.
Investors, however, will be looking at properties from the ‘business end’. In other words, if the key drivers such as transport, education, shopping, and work proximity are all promising, the prestige of the street will not be as important as the yield they can earn in that street.
So, <a href="/news">home buyers</a> should focus less on the affluence of the street of their short-term home, and more on making sure the numbers add up.
What would your potential home earn per week in rent? What are others in the street of a similar type renting for?
The right property type for that suburb/neighbourhood
Traditional home buyers can (and do) buy the property that suits their lifestyle needs, in an area that they want to live in. Makes sense.
The problem with this tactic for investors, though, is that a property that works well as a home for you, may not work as an investment property, for the demographic of that area.
For example, let’s say you are looking for a home and  interested in a particularly ‘pleasant’ street in a suburb. The street is lined with modest older small 2-3 bedroom, single-level houses, with no pools, low maintenance gardens etc.  Yet within that street is a two story modern mansion; 5 bedrooms, 3-car garage, pool, deck, etc.
As a long term home buyer, it can be a great move to take the best house on the street.
If you need all that space for instance, and really like the area, then it works. However, this is clearly not a good strategy if the home is only a short-term one, before becoming an investment property.
Whilst you will most likely find a renter for that house, the rental return you’ll get for that property may only be slightly higher than most others on the street, yet the amount of mortgage you’ll need to pay off will be exponentially greater.
This means that unless your strategy is to turn your home into a highly negatively geared investment property (which few investors these days actually want to do), it would be a poor investment.
Instead, look to buy a problem that is acceptably habitable for a home for a while, but is in-line with the demand renters have for the area.
Additionally, overcapitalising on a 3-bedroom house in an area that is mostly studio apartments and small one-bedroom units could be a mistake.
 
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No bells and whistles (apartments/units)
Similarly to the above, your dream home may have that $50K granite, steel, and glass kitchen, but as an investment, such a kitchen in most areas is a bad idea.
It is this kind of logic that most investors employ. Think about it; if you compare the penetration of investment properties to owner-occupied homes in well-to-do areas such as Toorak VIC, Peppermint Grove WA, and Vaucluse NSW, with other more modest areas in those cities, you’ll note that there are far less people renting in those areas.
Why? These residential properties typically make for very poor investments.
The above is an extreme example, but on a more modest scale, and especially for first home buyers looking to flip their property to ‘investment’ down the track, look for properties with no bells and whistles.
You may even go one step further to buy a run down or ‘TLC’ property, live in it whilst doing renovations over a couple of years, and then move out to rent it for a higher rate.
Even in these instances, do not over-capitalise on renovations. Opt for neutral themed colours, and durability over delicacy.
Go for tough basic white tiled bathrooms instead of Italian marble etc. Where possible, consider tough/durable wear and tear carpeting instead of plush European fabrics.
Paint neutral colours that are light and bright, and use high-durability paint.
No bells and whistles (houses)
In regional areas and outer fringe suburbs of metropolitan cities, many investors opt for houses over units.
First-home buyers do too; and if you’re to flip yours to investment in a few years, the most obvious point to make here is to seek low maintenance houses.
Yards are critical here; if the back and front yard is large, make sure they are easy to mow lawns, little to sparse shrubbery, and few trees.
Try to avoid houses with tall trees lining the border fences; these can cause problems down the track with neighbours (roots uplifting fences, branches and leaves falling on neighbour properties).
If you are set on a house that does have small-mid sizes trees near fencing, research them. Find out their species and see how big they will grow.
If you are living in the house a few years; it may be worth investing in a tree relocation. This is where you move a small-medium tree (that you know will grow large and provide good shade) from the fence corners, into the middle of the yard.
This can be expensive but worth it; as it grows it’ll supply shade from family tenants’ children to play in the yard, adding appeal to the rental market. The roots won’t cause problems for neighbours either.
Personally I am do not favour investment houses that have swimming pools and high-maintenance wooden back decks, though I know some investors who have added value and argue that in the right areas, these can be profitable and low-maintenance in terms of rental return. Proceed with caution there.
The ‘last’ point – finance first!
Finally, and taking things back to a due-diligence point before purchase, talk to your lender or broker about the future use of the property to ensure you have the best loan type and structure for this property.
This is the most important part of it all. You’ll need a lender that can be flexible enough to accommodate both worlds.
For example, a 30-year mortgage with offset facility from day #1; but exists as a principal-and-interest loan for the first five years, then matures to an interest-only loan from years #6 to #30.
This would allow the flexibility of chipping away at the capital for a few years, then switching to interest-only when you move out a few years later, with the offset facility enabling you to ‘park’ money against that property once you’ve moved out of it, which will help bring the property from negative-geared to neutrally-geared (if desired).
Alternatively, and if you are dedicated to growing a larger property portfolio, it’d be best to set up the loan from the outset as interest-only, with offset facility from day #1 onwards.
Another important finance note is to consider how this property will ‘sit’ in your investment portfolio, over time.
Will it remain your most expensive property? Will you only acquire additional cheaper properties; or in fact will every purchase after this one, be a more expensive property?
How you answer these questions could help determine your ‘exit’ strategy, later in life.
Knowing that tax-wise, you can only nominate one property at a time to be your ‘home’. If this is to be your most expensive property purchase, you’ll want to nominate this property as being your ‘home’ at time of sale, avoiding the payment of capital gains tax.
You may also want to investigate how a strategy such as (as I like to call it) the ‘golden six year rule’ could work for you, throughout a 20-30 year holding period, for this property.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a>  
 
 
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Know the purpose of the properties you buy: Cameron McEvoy

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AMP Capital will use $200 million of new equity raised from investors in its Shopping Centre Fund to help fund the redevelopment of Macquarie Centre in North Ryde into the second biggest mall in Sydney as well as upgrade the Ocean Keys mall in Perth.
In October last year, AMP Capital announced it would spend $390 millions redeveloping Macquarie Centre from 97,000 square metres to 135,000 square metres gross leasable area with more than 375 speciality retailers. 
On completion in the last quarter of 2014, Macquarie Centre, with will be the second largest shopping centre in Sydney and a top 10 centre by size in Australia.
The biggest shopping centre in Sydney is Westfield Parramatta at 137,000 square metres. 
Macquarie Centre is 100% owned by AMP Capital managed funds after it acquired Westfield Group and Westfield Retail Trust’s 50% interest for $426 million in October last year.
AMP Capital will spend $100 million redeveloping Ocean Keys in Clarkson, Perth, also due for completion at the end of 2014.
The centre will get a new Target store, an additional 48 specialty stores, a new dining precinct, a multi-deck car park, commercial offices and 10 residential apartments attached to the centre.
The $200 million equity raising came from Australian institutions and a new mandate from a European pension fund. 
“We were very happy with the level of interest we have seen in the fund and the speed at which we secured funding from both domestic and international investors," said AMP Capital Shopping Centre fund manager Conrad Sinclair.
The capital raising launched in November last year.
“Despite softer retail conditions investors have recognised the very high quality of the portfolio and ability to add further value over the long term as well as AMP Capital’s ability to deliver these outcomes.  Their investment allows them to participate in the growth of leading shopping centres with significant development opportunities.
The AMP Capital Shopping Centre Fund is a $2.3 billion sector specific shopping centre fund with exposure to 11 assets in five geographic sectors across Australia and New Zealand.
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