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 capital cities of Australia’s resource states are leading the property market recovery, according SQM Research managing director Louis Christopher.
Christopher places Perth houses and units at 6.30 on the property clock, indicating the market has just bottomed out and heading into an upswing, and Brisbane houses and units at six o’clock, indicating the market has bottomed out.
<img src="/images/stories/2012/10/clock-generic.jpg">
His assessment of the Perth market is based on falling listings and a tightening rental market.
Perth house and unit prices have also stopped falling, says Christopher.
In its September stock-on-market report, SQM found that Perth online residential listings declined by 3% to 17,517. Year-on-year they are down 14.6%, the biggest decline of the mainland capital cities (excluding the much smaller Darwin market).
SQM also found that the Perth vacancy rate tightened from an already very low 0.7% in July to 0.6% in August, with just 1,177 properties available for rent (compard with more than 2,600 in Adelaide and nearly 12,000 in Melbourne). Apart from Darwin (0.5%), Perth has the tightest rental market in Australia.
This tightening vacancy rate resulted in median house rents increasing by $10 to $450 per week over the August quarter, with weekly rents for units, apartments and villas rising by $20 to $430 per week, according to the latest REIWA data.
Christopher says Brisbane has bottomed out due to falling listings volumes and house prices no longer falling.
According to SQM Research, Brisbane online residential listings are down 8% year-on-year to September, with the vacancy rate at a tight 1.5%.
 
<hr class="system-pagebreak">
Investors looking to get into the Sydney market at the bottom of its cycle may have missed out, according to Christopher.
Christopher has Sydney houses at seven o’clock on the property clock, with units slightly further ahead at 7.30, indicating houses are well on their way to rebounding.
In both the case of houses and units listings are falling with SQM recording 2.9% fall in Sydney listings in September to be down 13.1% year-on-year to 30,408 properties for sale.
In both house and unit markets he says evidence of a recovery can be seen in rising Sydney auction clearance rates, which was 63% over the weekend.
However, Sydney houses are not making a homogenous recovery, with prestige houses stuck at four o’clock, according to Christopher, indicating they still have some way to fall.
Sydney units are slight further ahead of houses in the property cycle due to the introduction of the $15,000 first-home buyer handout, which applies to new homes, including apartments, marketed off the plan.
The Melbourne property market (houses and units) is assessed as having some way to go before bottoming out – at five o’clock on the property clock.
“Melbourne listings are still elevated and are not falling," says Christopher.
“There is some evidence of a rise in clearance rates, but no real evidence of a rise on prices, he says.
SQM has Melbourne online residential listings up 3.2% year-on-year to September to 51,564 properties listed for sale.
Adelaide and Canberra are assessed as flat property markets and at the same point in the property cycle as Melbourne (five o’clock).
In the case of Adelaide, Christopher says that “listings are still elevated, yet they are no longer rising at rapid rate.
“There is no evidence yet of increased buyer demand and prices are flat.”
In Canberra, apart from listings remaining high and prices flat, Christopher says the “outlook is uncertain due to the federal budget”.
Darwin is assessed as the only capital city market that has already rebounded (at nine o’clock) and heading towards it its peak.
“There has been a strong lift in Darwin house and unit prices starting in the first half of this year.
“Stock levels are falling rapidly. The rental market very tight,” he says.
SQM Research shows a 25.9% decline in Darwin properties available to purchase, with online listings falling from 1,616 in September 2011 to 1,198 currently.
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lschlesinger-FZcF9M3vE6

Perth and Brisbane heading into property market upswing: Louis Christopher

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Liquor retailer Cellarbrations will pay around $304 per square metre to lease a shop in the  Healesville Walk Shopping Centre, a popular Melbourne tourist destination.
The 230-square-metre store has been leased on a five-year term at a rental of around $70,000 per annum guaranteed by Metcash.
The deal was brokered by Savills Australia retail director Michael Di Carlo alongside colleague Jeremy Marmur. 
Di Carlo says there is a very high level of demand for tenancies at Healesville Walk.  
Anchored by a Coles supermarket, Healesville Walk is a community shopping centre with frontage to the Maroondah Highway. Other retail tenants include Liquourland, Bakers Delight, and National Australia Bank. The lessor is a major institutional investor/developer.
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Cellarbrations leases shop in Healesville Walk Shopping Centre

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I often get asked the question from investors “which is better – an apartment or house?”. Of course, it broadly depends on what the investor hopes to achieve from their purchase and depending on their preferred location, the answer is often dictated by budget alone.
Broadly speaking, as a “set and forget” option that promises appreciation over time, it’s hard to beat an apartment close to inner-city amenities. Providing you’re careful with the pre-purchase due diligence in terms of property style and position, apartments generally attract a higher yield, are low maintenance, and when issues with the building do occur, they are generally handled by the owners’ corporation and/or property manager.
However, regularly you’ll read property commentators dictating that apartments perform better in their median data than house prices.  While this may often be the case over the short term, it has not been proven over the long term.  In fact, over a long time frame, median detached house prices have outperformed unit prices, and there are sound fundamental reasons why this may continue.
Apartments have their benefits.  The price of land in inner suburban capital city zones has become so expensive that for a good proportion of buyers restricted in location their budget is hamstrung to this type of property.  However, for the larger demographic, apartments are considered the place where you start out – not end up.
We get bombarded with this idea that everyone is “downsizing” – and once again it’s another excuse by property commentators specialising in apartment sales to promote this option over others.  Everyone’s living alone, they cry! They use previous census data to prove the single-person household is the fastest -growing demographic in the nation.
However, I’d hazard a guess that a good proportion of these single dwellers are comfortably living in houses or town residences, rather than pottering about in a one-, or even two-bedroom apartment – and recent census data proves exactly this.
At 44%, the typical Aussie home still has three bedrooms, and the stats show the majority are occupied by only one or two residents. In fact, only 14% of lone-person households live in one-bedroom dwellings, and there’s been a big increase in the number of four-bedroom homes, which now make up almost a third of the housing stock.
Not only this but, as the latest census results further prove, the single-person household is no longer the fastest-rising demographic. In the 2011 results, lone-person households dropped from 24.4% to 24.3%, while group households (shared accommodation) jumped from 3.9% to 4.1%. This is most likely due to reasons of affordability – renting a one-bedroom inner-suburban apartment can often be more costly than an older three- or four-bedroom detached dwelling a few suburbs out. It makes sense therefore to share, and this trend is mirrored in other international markets – such as the UK and Canada, which produce similar data in their own census breakdowns.
Most of the first-home buyers who cross my path also follow the above pattern.  Rarely do they opt for a one-bedroom apartment – unless they’re restricted to a particular suburb. Most opt to move outwards and purchase something larger and if given the option, would rather rent until they’re able to afford a suitable property for their five- to seven-year needs.  So who’s buying all the apartments?
What we do know is Australia-wide, 58% of apartments are owned by investors. Break this data down to a state-by-state capital city level and the investor-owned percentage of inner-city apartments is closer to 70% and in some states exceeds even this (ABS data.)
 
<hr class="system-pagebreak">
 
Therefore, while there are a proportion of home owners selecting an apartment lifestyle, for many it’s still not the desirable option. Furthermore, data proves the first-home buyer demographic broadly prefer established over new, therefore it’s highly likely they will opt for older-style apartments in smaller blocks, all of which generally offer larger floor plans and fewer owners to battle with in the annual owners’ corporation meetings.
Furthermore, it seems when home buyers (first or otherwise) do purchase new, they will generally stick to low-rise apartment blocks. This is due to stricter lending restrictions for high-rise accommodation, coupled with high owners’ corporation fees and the not-so-desirable aspects this type of accommodation offers.  This is evidenced in the latest NAB quarterly Australian residential property survey.
The report notes that when it comes to inner-city new dwellings, demand across all states is strongest for “low-rise apartments and townhouses”, with “middle-ring housing” being the next best option. In fact, when broken down, demand for townhouses far outweighs demand for apartments.  Yet, despite this, across all inner-city regions, we’ve seen a boom in high-density accommodation – most of which has been in the form of relatively compact one- and two-bedroom high-rise dwellings.
It would seemingly make sense to build as much accommodation on a piece of land as possible, however I often wonder if once constructed, the council ever goes and inspects the developments it has approved?
I’ve had the “good fortune” to walk through many of the high-rise – and for that matter, low-rise – unit blocks. The artist drawings depicted in the pre-sale advertisements rarely represent the reality – which is always somewhat of a disappointment. Therefore, it pays for buyers to enlist the utmost caution when assessing apartments of this type prior to purchase (which of course cannot be done when purchasing off the plan). It’s also my experience that many home buyers consider the accommodation on offer in the newer units, poor value when confronted with the initial asking price.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/units-more-affordable-but-buyers-still-attracted-to-detatched-houses-cameron-kusher/2012100256896">Last week RP Data published some interesting information that further clarifies the above</a>. The latest research shows the largest number of sales nationally is for detached dwellings as opposed to units or apartments.  Considering Australia’s biggest buyer demographic is made up of family home buyers with and without children, this isn’t surprising, however the data also shows a decline in the number of unit sales, which is interesting when it’s generally assumed home buyers at all stages would be flocking to the unit sector for affordability reasons.  After all, as one managing director of Colliers International recently stated:
“Australia is catching up with the rest of the world, with apartment living becoming more acceptable to families.”
I’d suggest there is a lack of significant evidence to back this statement up.
 
<hr class="system-pagebreak">
 
Further research from RP Data may throw some light on the demise in sales. It notes that the greatest number of unit sales is predictably in capital cities, where there is a large disparity between house and unit prices. For example, its analysis shows Canberra and Sydney have a gap of $110,000 between house and unit sales.  However, Melbourne only has a gap of $48,000 between the property types.
Consequently, the unit sales percentage in comparison to detached dwellings in both Canberra and Sydney is 42.5% and 42.8% respectively.  Obviously, the greater the difference in price, the larger the perceived value for buyers and investors who would therefore be encouraged to buy.
The report offers the following statement:
 “Demographic factors are also likely to contribute to greater demand for units, with baby boomers looking to downsize from their large family homes into something smaller and more easily maintainable.”
This is may be true for some property types that fall under the umbrella of a unit sale, however it’s unlikely to be the case for apartment sales.
While downsizing to a younger brain may be simply mean moving into a flat or apartment, elderly residents have a lifetime’s worth of furniture and memories to accommodate. Selling costs – along with stamp duty and the stress involved in a house move – often deter consideration of the above altogether.  However, when it does occur, the preference would certainly be downsizing the land component of the property rather than the level of accommodation. In other words, the good old single- or double-level townhouse or terrace.
It’s clear therefore the predominant market for inner-city unit sales (particularity high rise) is firmly in the court of the investor who is one step removed emotionally, and need not have personal lifestyle requirements as her main objective. This is all well and good, however if the investor is looking for capital growth over rental return she’s going to do a lot better focusing on property that attracts Australia’s larger buyer demographic – the owner-occupier market.  Hence why established or older-style period apartments in smaller blocks deliver higher long-term returns.
For investors who like the idea of purchasing new in order to take advantage of increased yields, various spruiked rental guarantees and tax depreciation benefits – they could find securing long-term tenants problematic. Vacancy rates in high-rise accommodation far exceed their established counterparts. For example, Melbourne’s Docklands and Southbank, which have the largest number of high-rise apartments, have vacancy rates of 10.4% and 9.2% respectively, however St Kilda East, which has a higher percentage of low-rise established apartment blocks, currently has a vacancy rate of 2.5%, according to SQM.
Considering the above, I would suggest it’s far more sensible when re-zoning inner-city land, to cater to a home buyer market and provide a greater proportion of accommodation to attract home buyers – principally low-rise developments and terrace housing – rather than building an endless supply of tower blocks. However, considering the pace of high-rise construction it’s a piece of advice I can all but guarantee developers and town planners won’t adhere to. Perhaps the property investors out there can take note instead.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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catherinecashmore-6LXia3pPQj

Should you invest in an apartment or a house?

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Sizeable improvement in auction clearance rates in Melbourne and Sydney: REIV

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Westpac, Commonwealth Bank and NAB have asked for understanding following their decision not to pass on the full October 2 rate cut to borrowers.
Sympathy they are unlikely to get.
They three banks have asked borrowers to consider the higher cost of raising deposits, retirees dependent on their savings accounts and the many Australians who hold bank shares in their super funds.
However, sympathy will be in short supply with smaller lenders offering standard variable rates in some cases 100 basis points below the major banks, despite not having the multibillion-dollar pockets, enormous numbers of customers and distribution networks.
The cheapest standard variable rates: where the major banks rank
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="205">
 
</td>
<td valign="top" width="205">
Standard variable rate
</td>
</tr>
<tr>
<td valign="top" width="205">
Pacific Mortgage Corp
</td>
<td valign="top" width="205">
5.72%
</td>
</tr>
<tr>
<td valign="top" width="205">
State Custodians
</td>
<td valign="top" width="205">
5.82%
</td>
</tr>
<tr>
<td valign="top" width="205">
Family First Credit Union
</td>
<td valign="top" width="205">
5.95%
</td>
</tr>
<tr>
<td valign="top" width="205">
CUA
</td>
<td valign="top" width="205">
6.05% (October 12)
</td>
</tr>
<tr>
<td valign="top" width="205">
ING Direct
</td>
<td valign="top" width="205">
5.97%  (October 12)
</td>
</tr>
<tr>
<td valign="top" width="205">
Greater Building Society
</td>
<td valign="top" width="205">
6.25% (October 15)
</td>
</tr>
<tr>
<td valign="top" width="205">
NAB
</td>
<td valign="top" width="205">
6.58% 
</td>
</tr>
<tr>
<td valign="top" width="205">
Commonwealth Bank
</td>
<td valign="top" width="205">
6.6% (October 12)
</td>
</tr>
<tr>
<td valign="top" width="205">
Westpac
</td>
<td valign="top" width="205">
6.71% (October 15)
</td>
</tr>
<tr>
<td valign="top" width="205">
ANZ
</td>
<td valign="top" width="205">
6.8% 
</td>
</tr>
</tbody></table>
Source: major banks, Infochoice.com.au, RateCity.com.au
The decisions of the <a href="/news">Commonwealth Bank</a> (20 basis points), <a href="/news">Westpac </a>(18 basis points) and <a href="/news">NAB </a>(20 basis points) mark the 21st time the major banks have cut by less than the official RBA cash rate reduction.
Westpac subsidiary St George today said it would reduce its standard variable home loan rate by 0.17 percentage points  to 6.69% per annum (effective from October 15).
On average the major banks have passed just 115 basis points of the 150 basis points in cash rate cuts introduced by the Reserve Bank since November 2011.
 
<hr class="system-pagebreak">
 
All banks stuck to form when it came to the time they will take to pass on the rate cut – earning an estimated $6 million every day they withhold relief for borrowers.
Westpac remains the worst offender, taking nearly two weeks to pass on the rate cut and earning the bank an extra $20 million into its already swollen coffers.
Westpac is drifting further from the big four on variable rates, offering a standard variable rate of 6.71% from October 15.
Commonwealth Bank will take 10 days to pass on its rate cut (6.6%), with NAB’s new standard variable rate of 6.58% in effect from today, six days after the RBA announcement.
In previous statements following partial rate cuts, the major banks highlighted the growing cost of wholesale funding.
However, with wholesale funding now cheaper, the major banks focused on their rising reliance on deposits to fund their mortgage lending and the fact that savers would lose out if they passed on the full rate cut.
Westpac tried to tug at the heart strings with its statement that it needed to balance the needs of “our mortgage customers with those of our millions of savers, particularly retirees who depend on the income from their deposit accounts”.
The Commonwealth Bank told borrowers that “one significant factor” impacting its balancing of borrower, depositors and shareholder need was the “increase in the cost of deposits noted in the Reserve Bank of Australia’s most recent Financial Stability Review”.
If borrowers weren’t happy about the decision, the Commonwealth Bank tried one further tactic, reminding customers that “millions more Australians own Commonwealth Bank shares through pension funds.
NAB’s head of personal banking, Lisa Gray, steered clear of mentioning pensioners or shareholders but did highlight that “banks obtain funds for lending from deposits and from wholesale funding markets.
“Around the world, banking regulators require banks to hold more stable forms of funding, like deposits, to reduce risk in the banking sector. "The increased competition for deposits is pushing up costs, making it more expensive to fund our lending," said Gray.
However, disgruntled borrowers who have standard variable loans dated from July 1, 2011, can switch lenders without having to pay any mortgage discharge fees (exit fees), with many smaller lenders offering substantially lower offerings.
Non-bank lender Pacific Mortgage Corporation is offering an SVR of 5.72% – 86 basis points below the lowest of the big four, NAB at 6.58%.
ING Direct, the nation’s fifth biggest lending brand, passed on the full rate cut to its borrowers with a standard variable rate of 5.97%.
Another lender, non-bank State Custodians is offering an SVR of 5.82%.
Mutual lender CUA, Australia’s largest customer-owned financial institution, said it would cut its standard variable rate by 20 basis points to 6.05% from October 12.
CUA points out that its SVR has continuously remaining over 50 basis points cheaper than the average standard variable rate offered by the big four over two years.
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Smaller lenders offer borrower satisfaction as major banks withhold part of rate cut

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Melbourne landlords who find they are not receiving multiple enquiries every week about their vacant rental properties need to lower their rental expectations, according to Leah Calnan, director of Metro Property Management.
Speaking at yesterday’s Melbourne Home Buyer &amp; Property Investor Show, Calnan described the Melbourne rental market as “a little bit tough” for landlords for the past year.
“If your enquiries are minimal, it’s a price point issue,” Calnan said.
She said Melbourne landlords should not always expect to receive the same rent or more for a property as tenants changed.
“You have to change with the market,” she said.
“It’s much better for you to receive 90% of that $500 a week, for example, than no money at all.”
She also pointed out that prospective tenants searched in price “blocks” – for example, $450-$495, and so landlords could appeal to a broader range of renters by ensuring the rent fell within that block. She said a difference of $5 a week, from $500 to $495, could entice prospective tenants who otherwise would not see the property in internet searches.
In addition to reducing their rental expectations, Calnan suggested landlords offer prospective tenants sweeteners and incentives to make their properties stand out. She suggested a free barbecue, free 12-month Foxtel contract, a Coles/Myer voucher or paying for the cost of removalists in order to entice tenants.
“For you it’s a tax deduction, but it’ll make the property more attractive to tenants,” Calnan said.
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Melbourne landlords might need to lower rent to fill vacant properties: Leah Calnan

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Property investors should look to get into the market now rather than try and time their purchases to when the market bottoms out, Margaret Lomas told attendees at the weekend’s Melbourne Home Buyer &amp; Property Investor show.
Lomas says the property market currently sits at five o’clock on the property clock, meaning it has yet to reach the bottom of the current cycle.
<img src="/images/stories/2012/10/clock-generic.jpg">
“It’s better to buy at five o’clock, because it’s very hard to time your purchase so you buy at six o’clock. And you don’t want to buy at seven o’clock,” says Lomas, founder of property investor advisory business Destiny and a regular pundit on Sky Business.
With flames flickering on a screen behind her, Lomas then launched into her hotspot list, telling the big crowd that they should be looking at regional markets with strong population growth, and where there a big infrastructure projects in place.
“Some regional centre populations are growing faster than the national average. And there is a growing affluence as well in some of these locations,” she says.
In Victoria, Lomas favours regional centres like Shepparton, Ballarat, Bendigo and Morwell.
She says investors should steer clear of apartments in Melbourne because the market is oversupplied. with prices forecast to fall by around 2%.
<img src="/images/stories/2012/10/lomashot.jpg">
Overall the outlook for Victoria is one of subdued growth over the next 18 months.
 
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The outlook is better for NSW due to a housing shortage in many areas and tightening vacancy rates.
She picks Blacktown on the Sydney fringe as one of her NSW hotspots as well as locations in the Hunter Valley including Branxton, Singleton, Cessnock and Muswellbrook.
In Queensland, Lomas says there is a two-speed housing market due to the mining boom, with some regions benefiting and others not.
She says investors should steer clear of Brisbane apartments – she forecasts a 10% drop in prices over the medium term due to an oversupply of new apartments.
Rather, Lomas says investors should look to places like Toowoomba, which benefits from the mining boom, but is not solely dependent on it.
“Pick towns with a mining influence rather mining towns,” is her credo.
The only mining town she picks as an investment hotspot is Gladstone.
“It has 13 separate mining projects including coal and aluminium – so not dependent on one project,” she says.
Her other picks are Rockhampton, which benefits from the Gladstone “influence”, and Mackay.
Lomas says investors should be wary of WA mining hotspots, unless they have an appetite for risk.
“Mining towns are at risk if local government bodies release more land for development.”
Furthermore, she says mining companies are looking to build their own cheap housing for mine workers, rather than be "held to ransom by private landlords".
Lomas says there are no hotspots in Tasmania.
South Australian hotspots include Port Noarlunga, Port Adelaide, Hackam, Huntfield Heights, Christie Downs and Mitchell Park.
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Plenty of regional hotspots to tempt investors as market hovers at five o’clock on property clock: Margaret Lomas

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It was a cracking start to Property Tycoon this week, with all five properties selling in Melbourne. Some 13 tycoons, including the Property Observer's very own Title Tattle, snared five from five, but the Tycoon of the week and movie tickets go to Dids, with an accuracy of 97.78%.
There’s a website, <a href="https://www.propertytycoon.com.au" target="_blank">www.propertytycoon.com.au</a>, where punters can guess what they think properties will sell for at their weekend auctions in Melbourne and Sydney.
This season <a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
<img src="/images/stories/2012/09/queenspde.jpg">
At 124 Queens Parade, Fitzroy North (pictured above), the scene was set for a competitive auction after the vendor rejected a pre-auction offer of $1.075 million and agent Rick Daniel was forced to lift the price quote. It proved to be the right move when three bidders contested the auction and the property sold under the hammer for $1,152,000.
The market was not so strong in Sydney with only two out of five properties selling, two passed in and one sold prior. The best-preforming tycoon was Shannon, who secured $2.145 million worth of property.
<img src="/images/stories/2012/09/hereford.jpg">
The auction at 152 Hereford Street, Forest Lodge (pictured above), failed to find a spark, and only one buyer declared an intention to buy the property. Although no sale was achieved on Saturday, agent Mark Tooth from Belle property is confident the property will be sold in the $1.2 million to $1.3 million range early this week.
The stand out result was for the sale of 3/74 Upper Pitt Street, Kirribilli, where four bidders registered pushed the price of the one-bedroom apartment to $686,000. According to RP Data this is the highest price sale of a one-bedder for more than 12 months.
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Auction tipping competition gets cracking start, with all five Melbourne properties sold

<html><body>Australian Property Monitors (APM) has released a list of results from 325  auctions in Sydney for the weekend of October 6. The clearance rate was 63.1%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's 325 Sydney auction results show 63.1% clearance rate

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Some 1,150 properties are set to go under the hammer on the October 27 weekend, marking Melbourne's first super Saturday since April and the biggest since December 2010.
Melbourne auction listings have been down this year as many owners turned to private sales due to a flat property market.
But the recent rise in clearance rates could signal a turning point, Robert Larocca of the Real Estate Institute of Victoria says. A clearance rate of 66% was recorded on the weekend, compared with 51% for the same weekend last year. 
"There is a strong correlation between clearance rates and confidence levels," he told the audience at the weekend Melbourne Home Buyer and Property Investor Show.
"These two factors are linked so when we see confidence drop so to do clearance rates," he said. "Clearance rates are a forward indicator of what's happening to sale prices – with the clearance rate providing an indication of what's likely to occur a few months later to prices.
"Right now we've seen a start in the rise to clearance rates, and that suggests, if history is any guide, that prices ought grow towards the end of this year and next year.
"That depends very much on the direction of the economy and also what's happening around the word," he advised.
"It's a sign of emerging confidence given the vendors held back in the earlier part of this year ... but we will soon see whether the gradual improvement in clearance rates are repeated and solid," Larocca said.
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Larocca said there had been little capital growth in the Melbourne market this year.
"The fact that prices haven't gone down this year is good news," he said.
 
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The low sales volumes in Melbourne is apparent in REIV data that shows until the grand final weekend, there had been 18,433 auctions this year, with 11,132 or 60.4% selling under auction conditions.
This compares with the 22,247 auctions held up until the same time last year, when the clearance rate of 60.6% and 13,476 sold.
In 2010, when effective demand was much stronger, there had been 23,820 auctions and a clearance rate of 76.8%.
The volume of sales by auction is down 17% on this time last year and 39% on this time in 2010.
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 October's opening weekend recorded 540 houses and units go under the hammer in Melbourne, according to the Real Estate Institute of Victoria, with a 60%-plus success rate.
Super Saturdays are the hyperbole for when there are more than 1,000 auctions scheduled for Melbourne and more than 700 in Sydney.
The last super Saturday auction weekend in both Sydney and Melbourne was on the weekend before Easter in March this year.
In the March super Saturday, Melbourne’s estate agents secured a 61% auction success rate, while Sydney’s result was 53.8% clearance rate.
According to Australian Property Monitors, the tally for Sydney's October 27 weekend is about 400.


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