Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

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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The chairman of the Foreign Investment Review Board (FIRB) says xenophobic attitudes towards Chinese enterprises buying Australian assets will hurt Australia economically.
Speaking at Australian Institute of Company Directors (AICD) function in Perth this week, Brian Wilson beat a familiar drum urging that  foreign investment decisions should be made on a purely standalone commercial basis.
Wilson is a former investment banker, having been appointed to chair the FIRB in April this year.
His comments follow the issue of foreign ownership becoming a political hot potato over the sale of <a target="_blank" href="https://www.propertyobserver.com.au/news/cubbie-station-sale-to-chinese-supported-by-just-13/2012093056888">Cubbie Station</a>, a massive irrigation farm, covering around 1,000 square kilometres of south-western Queensland.
The mooted $300 million sale of Cubbie Station to a syndicate headed by the Chinese textile company Shandong Ruyi has been approved by Federal Treasurer Wayne Swan, following an assessment by the FIRB, which vets sales exceeding a threshold of $244 million.
The property near the Queensland-NSW border was placed into voluntary administration in 2009, with reported debts of more than $320 million.
Among those opposed to the sale is Nationals Senator Barnaby Joyce and independent Senator for South Australia Nick Xenophon.
However, local Nationals MP Bruce Scott, who holds the seat of Maranoa, where Cubbie Station is located, says the FIRB should decide with politics keeping out of the issue.
Federal opposition leader Tony Abbott in a speech in Beijing in August called for tougher rules governing foreign investment, adding that Chinese investment in Australia was more complex due the prevalence of state-owned businesses.
At the AICD function Wilson said Chinese investment into Australia would eventually become as accepted. He pointed to similar concerns when Japanese interests bought up a large number of Queensland tourism assets in the 1990s.
"I've got to say to you, if the Japanese wanted to buy a tourism property in Queensland now, I suspect everybody would get down on their hands and knees and say, 'Thank you'," he said in a speech reported by The Australian and the Australian Financial Review.
“With the nationalistic, xenophobic views of the world, the economic benefit foreign investment brings to our country is lost.
“Over time and with familiarity it will become less of an issue,” he added.
Wilson also highlighted that Chinese investment made up just 2.6% of foreign investment into Australia last year, though it is growing.
“The simple fact is success in trade leads to success in investment, and the current boom we have in investment from Asia says something about Australia’s place in the world.”
Wilson expects that a register of foreign-owned farmland being called for by Nationals and rural Liberal MPs will be created.
The vast majority of around 10,000 offshore real estate investments in Australia are approved every year.
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FIRB chairman Brian Wilson repeats call to keep politics out of Chinese foreign real estate investment decisions

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Rents in Sydney and Perth have hit record highs after median rents skyrocketed over the quarter in both cities, according to Australian Property Monitors' quarterly rental report.
In Sydney house rents grew 4% over the quarter to a record $520 per week for houses and Perth house rents grew 4.7% to a record $450 per week.
In Sydney unit rents are unchanged over the quarter, but they recorded strong growth the previous quarter.
The rises place Sydney as the second most expensive city to rent a house, after Darwin.
“[These rises are] further evidence of the rising cost of housing in the harbour city, though unit rental growth remained flat over the September quarter,” says APM’s Andrew Wilson.
Yields for houses in Sydney have fallen 0.8% over the quarter to 4.67%, while unit yields fell 0.4% to 5.13%.
The report says rent rises in Perth were “extraordinary”, with house rents jumping 4.7% over the quarter and 15.4% over the year while unit rents jumped 2.6% over the quarter and 11.4% over the year.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/10/apmoct11.jpg"><img src="/images/stories/2012/10/apmoct11thumb.jpg"></a>
Source: APM
House rents in Perth are now at $450 per week, while unit rents are at $390 per week.
“Housing shortages are starting to bite in Perth as immigration levels surge,” says Wilson.
House yields in Perth increased 1.7% over the quarter to 5.12%, while unit yields increased 2.8% to 5.73%.
Rent rises in Darwin eclipsed all other state capitals, with median rents jumping 7.7% for houses and 10.4% for units over the quarter.
The rises consolidate Darwin’s lead as the state capital with the largest median rents for both houses and units.
Weekly rents in Darwin are now at $700 per week for houses and $530 per week for units.
Wilson says the rises in Darwin reflect “to a large degree the impacts of the transient nature of the workforce. Nonetheless, the Darwin rental market continues to struggle with an underlying shortage of available housing.”
House yields in Darwin fell 3.4% over the quarter to 5.14%, while unit yields increased 4.5% to 6.1%.
 
<hr class="system-pagebreak">
 
Melbourne rents remain unchanged for the quarter and the year at $360 per week for houses and $350 for units.
“This reflects the higher vacancy rates and wider choice of rental properties for tenants that characterises the Melbourne market,” Wilson says.
Melbourne house yields rose 1.6%  over the quarter to 4.31%, while unit yields fell 0.1% to 4.64%.
Brisbane was almost as flat as Melbourne, with no change over the quarter for houses at $380 per week, though they are up 2.7% for the year while unit rents increased 1.4% over the quarter to $365 per week, the only rise for the year.
“This reflects a generally more subdued housing market in Brisbane,” Wilson says.
Brisbane house yields rose 0.7% over the quarter to 5.24% while unit yields rose 0.6% to 5.37%.
In Adelaide, house rents at $340 per week are unchanged over the quarter and up 1.5% for the year while unit rents dropped 1.8% for the quarter to $275 per week, the only change for the year.
“A generally subdued housing market for both buyer and tenant activity meant house rents were steady,” Wilson says.
Adelaide house yields rose 0.6% over the quarter to 4.83% while unit yields rose 1.1% to 5.14%.
In Canberra, house rents fell 1% over the quarter to $485 per week, though rents are up 3.2% for the year. Unit rents fell 2.3% over the quarter to $430 per week, nullifying rises in the previous quarter.
“[This] can be attributed to increased buyer activity providing less competition for rental properties,” Wilson says.
House yields in Canberra rose 2.6% over the quarter to 5%, while unit yields fell 0.8% to 5.55%.
And in Hobart, house rents rose 2.4% over the quarter, rebounding from declines last quarter, to $320 per week. Unit rents did the opposite, falling 3.8%, going back to September 2011 levels of $250 per week.
Across the nation, median asking rents for houses rose 1.6% over the quarter while units rose by 0.2%.
“Overall, rental markets will continue to produce varied outcomes reflecting the underlying drivers of each capital city,” Wilson says.
“In Sydney, Perth and Darwin, pressure on rents will continue as declining affordability impacts on first home buyers’ borrowing capacity with housing shortages and population increases combining to keep vacancy rates tight.
“For other markets, such as Melbourne, subdued housing market conditions, higher vacancy rates and less competition for available properties should see rental prices remain steady over the shorter-term.”
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Sydney and Perth rents hit record highs: APM

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Australand managing director Bob Johnston and Westfield chief financial officer Peter Allen have been named among a lengthy list of candidates who could replace Stockland’s outgoing managing director and CEO, Matthew Quinn.
Quinn will step down from his 12 years in charge of Stockland in February.
The other candidates named by the Australian Financial Review and The Australian are Rod Leaver, CEO of Lend Lease Asia, former St George Bank CEO Paul Fegan, David Southon, co-founder and joint managing director of Charter Hall, veteran Macquarie banker Matthew Banks and the only internal candidate, John Schroder, current chief executive of commercial property at Stockland.
Stockland is due to make an announcement about Quinn’s replacement before the end of the year.
In terms of experience, Bob Johnston would be viewed by many as the most suitable candidate, with Australand operating a similar business model to Stockland with a diversified mix of residential and commercial property development activities.
Johnston has been managing director of Australand since 2007.
In a statement Stockland chairman Graham Bradley said the process to select and appoint a new managing director was progressing well with the board to “make an announcement in due course”.
The stock market appears unfazed over the uncertainty about leadership of Stockland.
Stockland’s market capitalisation has gained about $540 million since the start of the month to reach $7.9 billion.
It closed up 20¢ yesterday to $3.60.
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Australand’s Bob Johnston and Westfield CFO Peter Allen among possible replacements for Stockland's Matthew Quinn

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For the everyday consumer, spring begins in September. For the property market, it also technically starts in September, but as a real estate agent our activity actually ramps up much earlier. We’re preparing for the season as early as June, and come July we know whether spring will be busy by the number of upcoming listings in our books.
So it came as no surprise to see a 40% increase in our stock this season from winter – September was busy, but October will be hectic. Our clearance rate is at 81%, and properties are selling quickly, with average days on market sitting at just 24 days.
Prahran has weathered the storm quite well compared with other Melbourne suburbs, a good reminder that the property market is actually made up of multiple “sub-markets”. While sales activity has certainly picked up for us since winter, in general our levels all year round have remained consistent, with auctions remaining popular and clearance rates hovering around 80%. In fact, according to RP Data’s top 100 growth suburbs nationwide, Prahran topped the list in Melbourne.
Why? Our popularity comes down to one factor – affordability. It’s one of the few inner-city suburbs where you can still pick up a period home located close to shops, restaurants and public transport for under $1 million. Add multiple interest rate cuts to the table and there’s never been a better time for young couples to buy into a lifestyle location and still set themselves up for a family. We’re expecting a lot of interest at this weekend’s auctions for <a target="_blank" href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=4456523&amp;Con=S">1 Chatsworth Road</a> and <a target="_blank" href="https://www.hockingstuart.com.au/?autoSearch=1&amp;OID=4424173&amp;Con=S">82 Bendigo Street</a>, with Chatsworth priced within a $700,000 to $750,000 range and $760,000 to $830,000 for Bendigo. The properties at <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/VIC/Prahran/?adid=2010038374">82 Hornby Street</a> and <a target="_blank" href="https://www.realestate.com.au/property-house-vic-prahran-111773603">9B Percy Street</a> will also fare well because of their proximity to the Chapel Street precinct.
 
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Having said that, over the past month we’ve also noticed an influx of buyers return to the sub-$1 million market, and demand is back for Edwardian and Victorian-style homes. Again, these buyers – particularly those with double-income and no kids – are driven by affordability and see the opportunity to jump into a stable market before prices start increasing again.
From a seller’s point of view, an interesting trend we’ve picked up is a growing investment in online advertising. Ten years ago, advertising was dominated by brochures, property boards and print. Today, while traditional methods are still present and will continue to play a crucial part in selling houses, the focus is shifting to online. This is reflective of the new generation of buyers who are online savvy, with the majority using the internet as one of their main tools to look for property – sellers are following suit. However, no two properties are the same, and in the same way that prices vary depending on the property, the same rule applies to advertising. There will be properties that sell better online, some better in print, but often the most effective advertising campaigns use multiple touch points.
Looking ahead, we expect the market in Prahran to remain strong. Further interest rate cuts will help drive confidence, but growth in house prices will be gradual – we’re not going to see the price hikes we saw in the years leading up to 2010. However don’t forget the Melbourne real estate market is made up of multiple sub-markets, so it will be a different case for each suburb – where one area might be seeing rapid growth, another might be depreciating in value. Prahran will fare well because of its affordability, prime location and amenities, but it won’t necessarily be the same for the next suburb. Statewide, the market is still finding its feet so there’s great value for buyers ready to take the plunge now – as long as you do your due diligence on the area.
Andrew James has more than a 20 years’ experience in real estate and is director of <a target="_blank" href="https://www.hockingstuart.com.au/">hockingstuart </a>Armadale.
What do you think spring holds for the property market? <a href="http://propertyobserver.com.au/ebooks/the-spring-property-outlook-survey" target="_blank">Complete our five-minute survey for your chance to win an iPhone 5.</a>
For more on auctions and the spring selling season, <a href="http://propertyobserver.com.au/ebooks/free-ebook-auction-or-private-treaty-plus-9-spring-2012-selling-tips" target="_blank">download our free eBook.</a>
 
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Spring brings a 40% increase in property on the market in Prahran: Hockingstuart

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The sale of 39 nearby apartments during September suggests Rose Group is set for strong interest when its latest Breakfast Point apartment complex market hits the market this weekend.
{yoogallery src=[images/stories/2012/10/oct11bellona]}
Bellona (pictured above and below) will offer water views from its upper three levels in the Parramatta River location at Mortlake on its early 2014 completion.
The off the plan prices start at $555,000 for a one-bedroom unit with an internal size of 66 square metres, and two-bedroom apartments start at $695,000 and have an internal size of 107 square metres.
<img src="/images/stories/2012/10/bellona.jpg">
The $1,455,000 mark is the starting price for three-bedroom units, with an internal size of 167 square metres.
The penthouses start at $2.18 million, with an internal space of 202 square metres.
There are 62 apartments including 25 one-bedders, 28 two-bedders, four three-bedders and five penthouses.
First home buyers are expected to purchase some of the one-bedroom apartments and take advantage of the government incentive, which started on October 1, with purchasers not exceeding $650,000 set to receive a $15,000 payment.
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Some 70% of the apartments face to the north and east.
Buyers in the  Harbour precinct will be able to use the 3,700 square metres of private outdoor space and a 25-metre horizon lap pool, a lagoon pool and pavilion.
{yoogallery src=[images/stories/2012/10/oct11breakfast2]}
Breakfast Point, on the Parramatta River at Mortlake, is a 52-hectare project developed by the family-run company headed by Bob and Margaret Rose and their son Bryan (pictured below).
<img src="/images/stories/2012/10/byron.jpg">
Their ancestors arrived from England as free settlers on the ship <a target="_blank" href="https://freepages.genealogy.rootsweb.ancestry.com/~mould/rose/thos-rose/other-thomas.htm">Bellona</a> in 1793 and became pioneering farmers at Liberty Plains in the Strathfield area.
The first owners settled into their new homes on the site in 2002. Many were among those who helped notch up $30 million worth of sales in the first three months of release in late 2000.
The September 2012 sales tally was the highest of the year, with the 39 deposits valued at $33.5 million.
More than 1,700 homes and apartments have been sold over the past 12 years by its joint developers Rose Group and Cbus Property, the national construction industry superannuation fund.
There will be on its 2016 completion some 2,265 abodes.
The Rose Group bought the Parramatta River site from AGL in 1999 in a staged handover for about $150 million over six years before its final payment for the site.
The site had been owned by AGL since 1883.
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Bellona sales set to steer Breakfast Point towards 2016 final settlements

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A former butchery in the small central west NSW town of Kandos has sold for a seemingly lean $80,000.

But the sale highlights the emerging renewal of the town as nearby mines bring  investment opportunities.
<img src="/images/stories/2012/10/kandos2.jpg">
It's triggered a 19% hike in the town's residential median house price over the last year to $160,000, according to RP Data, with local agents suggesting there have actually been two consecutive years of strong growth.  

The buyer of the former main street butcher shop has recently turned the 474-square-metre property with extensive cool room into a pizza store.
<img style="margin: 5px; float: left;" src="/images/stories/2012/10/kandos.jpg">
Its $80,000 sale price through Campbell’s Real Estate reflected annual 3.5% price growth since it 2003 sale.  It had been listed at $99,000.

Located 235 kilometres north-west of Sydney and 93 kilometres north-east of Bathurst, the town has benefited financially from nearby mining activity.
Coal mining is increasing in the Mudgee district , a 40-minute drive from Kandos, and a silver mine is set to commence operations in 2013 near Lue village.  The proposed re-opening of the cement works that closed ealier this year has given further prospects for the Kandos community.

“Weekly [residential] rent in Mudgee is around $500 compared to $200 on average in Kandos, so we get quite a few people coming down here to live,” says Ian Campbell of Campbell’s Real Estate Kandos. 

Various other commercial properties are listed for sale in Kandos present opportunities for investors, however they have languished on the market, unlike the butcher shop, which sold within days of its listing.

The Kandos Newsagency premises is on the market at $475,000, which includes an upstairs residential area. The business has a $950,000 annual turnover.
Angus Avenue premises are listed with a $250,000 asking price, which would reflect an 8.5% gross yield. 

 At 77 Angus Avenue, a building with a mixed commercial/residential usage, is priced at $275,000.

 And 8 Angus Avenue, a commercial property in prime location, is currently listed at $210,000.

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Former Kandos butchery sells for lean $80,000 as investors bite into mining town opportunities

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The Australian economic outlook has clearly deteriorated. Recognising this, the RBA has resumed interest rate cuts. Our assessment remains that the RBA has more work to do. But how low will rates go? What does it mean for investors?
<h3>The growth outlook</h3>
While economic growth in Australia has been reasonable of late – 3.7% over the year to the June quarter – and well above that in comparable countries, our assessment is that storm clouds are brewing and that growth will slow to around 2.5% over the year ahead, which is well below trend growth of around 3 to 3.25%.
The basic issue is that the mining boom is losing momentum at a time when the non-mining part of the economy is weak and fiscal austerity is intensifying.
Mining investment looks like it will peak next year. For the first time in years the June quarter survey of mining investment intentions did not show an upgrade in plans for the current financial year and projects under consideration have peaked. Falling mining sector profits suggests mining projects remain at risk. Investment outside the mining sector remains weak. This all points to a sharp slowing in business investment in 2013-14.
<img src="/images/stories/2012/10/oliveroct101.gif">
Source: Thomson Reuters, AMP Capital
At the same time, a sharp fall in Australia’s terms of trade is leading to a loss of national income which will also slow spending and growth. Stronger mining exports, i.e. stage three of the mining boom, will provide a boost to growth but this may not become evident until around 2014-15.
<img src="/images/stories/2012/10/oliveroct102.gif">
Source: Bloomberg, AMP Capital
This is all occurring at a time when non-mining indicators for the economy remain soft. Consumer and business confidence are sub-par, despite being almost a year into an interest rate cutting cycle.
Retail sales remain subdued, with government handouts providing a brief boost in May and June, only to see softness return again. Annual retail sales growth is stuck in a range around 3%. With confidence remaining sub-par, job insecurity running high and interest rates still too high it’s hard to see a strong pick up yet. Ongoing consumer caution in terms of attitudes towards debt and spending is highlighted by the next chart, which shows a much higher proportion of Australians compared to the pre-GFC period continuing to nominate paying down debt as the wisest place for savings.
<img src="/images/stories/2012/10/oliveroct103.gif">
Source: Westpac/Melbourne Institute, AMP Capital
While housing related indicators have probably bottomed on average, taken separately they present a very mixed picture, with house prices up over the past few months, housing finance, housing credit and building approvals looking like they have bottomed but remaining soft and new home sales still falling. The fact that there has only been such a tentative response to lower mortgage rates indicates that mortgage rates have not fallen enough.
The jobs market remains soft with weak job vacancies pointing to soft employment and rising unemployment ahead. Whereas anecdotal news of job layoffs was previously limited to the non-mining sectors of the economy, it has now spread to the mining sector. This is likely fuelling ongoing household caution, acting to constrain retail sales and housing demand.
The bottom line is that with the mining boom likely fading over the year ahead, the non-mining part of the economy – notably retailing, housing and non-mining construction, manufacturing, tourism, etc – needs to pick up to fill the breach. The good news is that the RBA appears to recognise this. The bad news is that its task is being made hard by two factors:
<ul>
<li>First, the continuing strength in the Australian dollar, presumably on the back of safe haven buying out of the US dollar and euro in the face of QE3, etc, and its high correlation to the US sharemarket as part of a “risk on/risk off” trade, which has meant that it has so far not provided the shock absorber to falling commodity prices that it usually does.</li>
<li>Second, having seen the budget handouts around mid-year, fiscal tightening will now kick in at the federal level and may even intensify if the government seeks to retain its projected surplus for the current financial year. At the same time, various states are announcing budget cutbacks, including job cuts.</li>
</ul>
In order to offset these forces and ensure that non-mining demand strengthens sufficiently, interest rates will have to fall further.
 
<hr class="system-pagebreak">
 
The cash rate is low but lending rates are not
While the RBA has cut the official cash rate to within 0.25% of its GFC low, because of bank funding issues lending rates are still well above their 2009 lows.
Basically banks have been seeking to reduce their reliance on non-deposit funding which has proved unreliable since the GFC and to do this they have had to offer higher deposit rates relative to the cash rate than would normally be the case. This has resulted in higher lending rates relative to the cash rate than was the case pre-GFC. Banks have done well to raise the proportion of their funding they get from deposits to 53% from around 40% pre-GFC, but they still lag behind banks in other major countries and tougher capital requirements mean they are under pressure to do more.
The standard variable mortgage rate at around 6.6%, assuming banks pass on around 0.2% of the RBA’s latest 0.25% rate cut, is below its long-term average of 7.25%. But normally rates need to fall well below their long-term average to be confident of stronger growth. And in an environment of household and business caution post-GFC the neutral rate has likely fallen, probably to around 6.75%, which is shown as the “new neutral” level in the next chart. This would suggest that current mortgage rate levels are only just starting to become stimulatory.
In the last two easing cycles the mortgage rate had to fall to around 6.05% in 2002 and to 5.8% in 2009. Given the fall in the likely neutral level for mortgage rates and the current headwinds coming in the form of the strong Aussie dollar and fiscal tightening, mortgage rates will at least need to fall to these lows. Given the ongoing issues with bank funding, to achieve a circa 6% mortgage rate the cash rate will need to fall to around 2.5%.
<img src="/images/stories/2012/10/oliveroct104.gif">
Chart assumes average large bank standard variable mortgage rates fall to 6.6% following latest RBA rate cut. Source: RBA, AMP Capital
Our assessment is that the RBA is coming around to this view. As such we expect another 0.25% cash rate cut next month on Melbourne Cup day, followed by a cut to 2.5% in the March quarter next year.
Based on the assumption that the RBA cuts interest rates further, the global economy stabilises and growth in China stabilises around 7.5% next year, then Australian economic growth should pick up again by the end of next year.
<h3>Implications for investors</h3>
There are a number of implications for investors.
Interest rates need to fall a lot further. This means that term deposit rates are likely to fall further in the years ahead, even though the size of the decline will lag that of the official cash rate for bank funding reasons. As a result, the attractiveness of bank deposits for investors will continue to deteriorate.
<img src="/images/stories/2012/10/oliveroct105.gif">
Source: RBA, Bloomberg, AMP Capital
While record low bond yields mean bonds are poor value for long-term investors, yields will likely remain at the low end as the RBA cuts interest rates. However, if foreign investors start to panic about Australia, international bonds will do better than Australian bonds.
Australian shares should benefit from interest rate cuts and cheap valuations. As such we continue to see the Australian sharemarket being higher by year end. Key sectors likely to benefit from lower rates are retailers, building materials and home builders.
Declining interest rates in Australia will take pressure off the Australian dollar. However, falls are likely to be constrained by quantitative easing in the US and central bank buying. Overall, we see the Aussie dollar stuck in a range around $US0.95 to $US1.10. The best has likely been seen for the Aussie dollar.
Dr Shane Oliver is the head of investment strategy and chief economist at <a href="https://www.ampcapital.com.au/" target="_blank">AMP Capital</a>. Please note that this article is intended as general information and not as investment advice.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
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RBA will continue to cut cash rate as economic storm clouds brew: Shane Oliver

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Meriton boss Harry Triguboff says there is room for the Reserve Bank to cut the cash rate by a lot more to help struggling property markets that have not been boosted by recent monetary policy easing.
Triguboff told Business Spectator’s Robert Gottliebsen that rate cuts had boosted the Sydney and Melbourne property markets, but he said markets like Queensland and the NSW central coast are still down around 20%.
“Think of these areas. They must rise. They need to rise desperately. We cannot have a country where only 20% of the properties go up and 60% go down while 20% are static.
“The interest rates have a lot further to go down without any fear of bubble,” said Triguboff.
Triguboff pointed to the example of the UK, where the current cash rate is 0.5% (since March 2009), but the country has not had a housing bubble due to cautious lending practices.
Meriton has no apartment projects on the NSW central coast, but has some of its biggest apartment projects are in Brisbane and on the Gold Coast.
Meriton's biggest project is the 81-storey Infinity residential tower in Brisbane, which is due for completion in late 2013.
According to the latest Midwood Report, <a href="https://www.propertyobserver.com.au/developments/gold-coast-new-apartment-stock-halves-in-two-years-midwood/2012100456971" target="_blank">Meriton has sold 287 of the 548 units at Infinity</a>, with plans to keep 259 as serviced apartments – a growing component of the Meriton business.
Earlier this year Meriton completed the 74-floor Soleil, also in the Brisbane CBD. Of the 414 apartments, only 33 remain unsold.
On the Gold Coast Meriton is building Brighton on Broadwater at Southport, with all 216 apartments in Portia (stage E) sold out, according to the Midwood Report.
However the report also notes that Regatta (stage C) is not proceeding.
The most September RP-Data Rismark index shows Brisbane-Gold Coast apartment prices down 4.6% year-on-year to a median of $370,000.
The August Residex regional report shows Central Coast house prices up 2.19% year-on-year with a median value of $375,500.
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Interest rates can fall 'a lot further' without housing bubble risk: Harry Triguboff

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The housing market is one of the sectors that will benefit from the "boom" in the number of Chinese tourists who visited Australia over the past 12 months as well as permanent migration numbers just off record highs, according to CommSec chief economist Craig James.
The latest ABS overseas arrivals and departure data shows that Chinese tourists were not put off by the high Australian dollar, with a record 56,600 visiting Australia over August – up 15.7% on a year ago for a 12-month total of 607,900.
James calls this "the other boom".
China is now Australia’s second biggest tourist market, having now overtaken the UK (48,700), with New Zealand (96,500) occupying top spot.
Putting this in to context, in 2000 about 100,000 Chinese visited Australia annually.
<img src="/images/stories/2012/10/commsecoct10.gif" width="470">
Overall tourist numbers were up 3.7% in August to 514,100 – also a record for data going back to 1976.
The same ABS data also shows that the number of “permanent arrivals” to Australia in the year to August was just below 160,000 and just off the record highs set in 2009.
“The surge in Chinese tourists to Australia together with the lift in migrant numbers to near-record levels are two key developments,” says James.
“Increased migration means greater demand for houses, cars and consumer durables.
“Rising Asian tourism injects valuable dollars into regional economies. Overall there is good news for housing and tourism-dependent businesses and regions,” he says.
James adds that the latest tourism figures should serve as a “wake-up call to those businesses that claim that they can’t operate with an Australian dollar perched above parity against the greenback”.
ABS figures showing that the number of Aussies travelling overseas for holidays or business fell by 0.2% in August after falling by 1.4% in July – only the second fall in six months.
In seasonally adjusted terms the tourism deficit – the gap between departures and arrivals – eased from a record 188,700 in July to 169,200 in August.
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Chinese tourist 'boom' and high migration numbers bode well for housing demand: CommSec's Craig James

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Home buying sentiment surged 9.6% in October to its highest level in three years, according to the latest Westpac Melbourne Institute Index of Consumer Sentiment.
Westpac chief economist Bill Evans called this the “most encouraging result” from an overall disappointing reading of consumer sentiment in October.
The overall index increased by just 1 percentage point in October from 98.2 in September to 99.2 in October – the eighth consecutive month it has been below 100, indicating that pessimists outnumber optimists.
However, home-buying sentiment as measured by the "time to buy a dwelling" sub-index is now up 17.9% over the past two months and at its highest level since September 2009 – “the last period when the sentiment overall was surging strongly”.
“This message is consistent with other recent evidence of firming auction clearance rates. The response of the housing market to the recent rate cuts will be very important to watch,” says Evans.
The October survey of 1,200 was conducted in the week from October 1 to October 7, 2012. The RBA cut the cash rate by 25 basis points on October 2.
Evans called the overall result “disappointing”.
“There were a number of reasons to have expected the sentiment index to have increased by more than only 1%.
“Firstly, and most importantly, the Reserve Bank cut its overnight cash rate by 0.25 percentage points from 3.5% to 3.25%.
“Unlike some moves by the Bank which are fully expected by the media and therefore may not have a marked impact on confidence this move was not widely expected and therefore should have registered as a ‘pleasant surprise’ for respondents.
“Instead we saw the sentiment of those folks with a mortgage hardly move with a minuscule 0.6% increase.
“Of course a likely complication was the response of the major banks, most of which only announced their mortgage rate reductions on October 5 – five days into the seven day sample period – with reductions ranging from 0.18% to 0.20%,” says Evans.
He added that it remains of some concern that the index is "still significantly below its level of last November following the first 25-basis-point cut in the overnight cash rate.
"Since that time the Reserve Bank has cut the overnight rate by a further 125 basis points but the index is now 4.1% lower."
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