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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Construction has begun on Wet’n’Wild Sydney in the western suburb of Prospect.
Village Roadshow has started initial clearing works on the $115 million project, which is expected to deliver 300 construction jobs and 300 permanent jobs.
The 25-hectare site, opened by Premier Barry O’Farrell, will even include an inland surf beach when it opens in December next year.
The park will have 42 slides and attractions including a 150-metre surf pool, a 70-metre wave pool with three-metre swells, the world's tallest looping tube complex and a double SkyCoaster.
The project is expected to attract 900,000 visitors a year, with 20% of those coming from interstate and overseas, and is expected to generate $500 million for NSW in its first 10 years.
<img src="/images/stories/2012/09/wetnwild.jpg">
Village Roadshow is paying $7 million for upgrading roads around the site, which it will then lease from the government.
Wet’n’Wild Sydney will be the second water park built in Australia by Village Roadshow, joining the existing park in the Gold Coast. Village Roadshow has also built two waterparks in Phoenix and Hawaii in the United States.
Design firm The Buchan Group have been appointed to manage the master-planning, architecture, interior design, graphics and signage components for the project.
The Buchan Group’s Nathan Hones says the project offered a unique set challenges for the design team.
“The finished water park is expected to host up to 15,000 guests per day in the peak periods, so durability, maintenance and safety were key design elements,” Hones says.
“The finished product must cater for a range of demographics, from toddlers all the way to grandparents, and the team took this into consideration during the master-planning process.
“The design for Wet’n’Wild Sydney incorporates cutting edge technology in areas such as ticketing, food and beverage delivery, and marketing channels including online ticketing platforms and social media integration.
“Efficient use of water was a design priority, resulting in a range of sustainable initiatives including the use of rainwater and recycled storm-water for 90 per cent of the park’s irrigation, wash-down and toilets, and the use of the latest water filtration technology that requires less backwashing.”
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awalsh-7Ub9EypybQ

New Wet'n'Wild waterpark for Prospect in Sydney's west

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While borrowers wait to hear how much of the 25 basis points the major banks will pass on following yesterday’s cash rate cut – ANZ borrowers must wait until Friday 12 October – Property Observer has compiled a list of the lowest fixed and variable rate offerings currently in the market.
Non-bank lender eMoney is offering a three-year fixed home loan at 5.2% – the lowest advertised rate on offer.
eMoney operates as an online lender, based in Homebush, Sydney. Customers can also call to arrange their mortgages. The lender says it can offer such cheap rates by “cutting out the middleman”.
ME Bank, which offers a three-year fixed home loan at 5.39%, says fixed rates continue to be in high demand and now account for 45% by value of all new applications, up from 14% earlier in the year.
Even when the major banks do make their announcements, rate changes are unlikely to take effect immediately.
<a target="_blank" href="/news">Bank of Queensland yesterday trimmed 20 basis points from its standard variable-rate home loan to 6.71%</a> per annum, but only effective from Friday,  October 19, 2012.
The following results are based on advertised mortgage rates listed by <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a> and <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> as of October 3:
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="134" valign="top">
Provider
</td>
<td width="124" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="134" valign="top">
eMoney
</td>
<td width="124" valign="top">
Pro Pack 75
</td>
<td width="97" valign="top">
5.6%
</td>
<td width="116" valign="top">
5.94%
</td>
</tr>
<tr>
<td width="134" valign="top">
UBank
</td>
<td width="124" valign="top">
uHome Loan for refinancing
</td>
<td width="97" valign="top">
5.62%
</td>
<td width="116" valign="top">
5.62%
</td>
</tr>
<tr>
<td width="134" valign="top">
Loans.com.au
</td>
<td width="124" valign="top">
Dream Catcher
</td>
<td width="97" valign="top">
5.65%
</td>
<td width="116" valign="top">
6.01%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
My Mortgage Freedom
</td>
<td width="123" valign="top">
Fixed Rate loan
</td>
<td width="95" valign="top">
5.34%
</td>
<td width="114" valign="top">
5.98%
</td>
</tr>
<tr>
<td width="137" valign="top">
QT Mutual Bank
</td>
<td width="123" valign="top">
Choice Residential One Year Fixed
</td>
<td width="95" valign="top">
5.39%
</td>
<td width="114" valign="top">
6.05%
</td>
</tr>
<tr>
<td width="137" valign="top">
ME Bank
</td>
<td width="123" valign="top">
Super Member Home Loan Ultimate Offset
</td>
<td width="95" valign="top">
5.39%
</td>
<td width="114" valign="top">
6.57%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
eMoney
</td>
<td width="133" valign="top">
Pro Pack 75
</td>
<td width="97" valign="top">
5.20%
</td>
<td width="108" valign="top">
5.87%
</td>
</tr>
<tr>
<td width="133" valign="top">
ME Bank
</td>
<td width="133" valign="top">
Super Member Fixed Three years
</td>
<td width="97" valign="top">
5.39%
</td>
<td width="108" valign="top">
6.05%
</td>
</tr>
<tr>
<td width="133" valign="top">
UBank
</td>
<td width="133" valign="top">
UHomeloan for refinancing
</td>
<td width="97" valign="top">
5.48%
</td>
<td width="108" valign="top">
5.68%
</td>
</tr>
</tbody></table>
Have your say on mortgages and other aspects of the property market. <a target="_blank" href="http://propertyobserver.com.au/ebooks/the-spring-property-outlook-survey">Complete our five-minute spring 2012 property outlook survey</a> for your chance to win an iPhone 5.
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lschlesinger-FZcF9M3vE6

Non-bank lender eMoney offering 5.2% three-year fixed rate: the lowest mortgage rate offerings

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I love this image, as it tells us so much about the world and how the wealth has been dispersed. The lights illustrate the dominance of the Unites States and Europe, in addition to the emergence of India and China as future superpowers.
<img src="/images/stories/2012/09/space.jpg">
Source: Google Earth
When we look at Australia the image can also tell us a lot about the local property market and gives us an insight into why it has been reasonably solid compared with some other countries.
Australia is an enormous country with access to significant mineral wealth. However, most of the country is not a palatable place to call home. As a result many Australians decide to live in major cities close to the coast with very few venturing into the middle of the country. 
In Australia over 70% of our population live in our 10 biggest cities. This means we have a very centralised market, with the majority of people competing for scarce land close to major cities where they are more likely to find stable employment. 
Because most of the population wants to live in these defined areas it creates a something of housing shortage. But Australia does not have a housing shortage – it only has a shortage of housing in areas where the majority of people want to live. 
This competition for a finite commodity puts pressure on the value of land and results in a more robust property market.  While the overall market has come back a bit from the highs of 2010 some areas are performing better than others. The property markets that are feeling the effects of a softening market most are the outlying suburbs, where supply of land is not an issue and job stability is less reliable. 
By contrast, the image shows that so much of the United States has been populated. In the US only 13% of Americans live in the 10 largest cities. It obviously has a much larger population than Australia, so people have to spread out across the country. But if we take it a step further we find that only 25% of Americans live in the 50 most populated cities. The American market has a more decentralised population and as a result the pressure on the value of land is less. 
The US has traditionally had very well-established small town communities with schools, transport and entertainment. These small towns often do not have a shortage of land, and while this does create more affordable housing it also increases the risk of price volatility. 
Many of these small towns have been smashed by falling property prices and unemployment. With the vast majority of the population living in these areas, it has had a catastrophic effect of the overall US property market. As a result it will take the US market significantly longer to drag itself out of the doldrums. 
While the property market in Australia has been through a natural softening phase and is not out of the woods yet, the demographic make-up of our population will result in less dramatic falls. As a result some assets will hold their ground and weather the storm and be well-positioned for future growth while others will languish for a few years to come.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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marmstrong-sd3emVLPPb

Bird's eye view shows Australia's coastal property markets well-positioned for growth: Mark Armstrong

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The RBA has cut the cash rate by 25 basis points to 3.25% – the lowest the cash rate has been in three years – but borrowers are unlikely to receive the full benefit of the reduction.
A 25-basis-point rate cut would reduce monthly mortgage repayments on a $300,000 variable rate mortgage by around $50 a month.
Passing on 20 out 25 of the basis points on offer, as the Bank of Queensland announced within two minutes of the 2.30pm RBA announcement, equates to only a few dollars fewer a month, although the banks will face a public backlash if they don’t pass on the full rate cut.
Media attention will focus on the deep pockets of the banks and their recent multibillion-dollar profit announcements in the recent reporting season.
The banks will argue that they have to balance the need of shareholders against those of customers and that aspects of their funding mix remain expensive, including funding from household deposits.
The Reserve Bank indicated today the banks are well positioned to secure additional funding.
“Well-rated banks, and Australian banks have had no difficulty accessing funding, including on an unsecured basis,” said RBA governor Glenn Stevens in the monetary policy decision statement.
It followed comments in the bank's September Financial Stability Review, which noted that “the Australian banking system has remained in a relatively strong position”.
“Pressures in wholesale funding markets have eased since late last year, allowing the large banks to maintain good access to international bond markets during the past six months,” the RBA said.
However, the RBA also noted that banks have reduced their dependence on wholesale funding with a greater reliance on retail deposits to fund mortgage lending.
In his latest banking report, Nomura analyst Victor German said household deposit growth remained strong in August among the major banks, a positive for their overall funding profile, but warned that Nomura’s latest survey of deposit spreads “highlighted that competition for deposits continued to be intense”.
The Australian Bankers’ Association explained in August that banks source their funds from equity investors, depositors and from the short and long-term wholesale markets.
“Deposits and long-term wholesale are the two sources of funds which are now structurally more expensive than they were pre-crisis. Short-term funding and equity are almost back to pre-crisis prices,” it said.
“Banks need to maintain an adequate level of profitability to maintain solid credit ratings which bear directly on the price and availability of funding. Sustainable profitability also provides broader benefits to the community, including employment, salaries and wages, and downstream benefits to partners and suppliers,” said Steven Münchenberg, CEO of the ABA.
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Cash rate cut, but borrowers unlikely to enjoy the full benefit

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 A Lavender Bay, Milsons Point apartment was the week's top seller, according to RP Data. The 11th-floor, three-bedroom, two-bathroom unit is set in the Mirvac-built Latitude complex with views across Sydney Harbour. Nigel Mukhi at McGrath was the selling agent. The 189-square-metre apartment last sold at $2.98 million in 2006.
The second place getter in <a href="/news">Seaforth</a> represented a 40% discount to its last sale price.  
1. <a target="_blank" href="https://www.myrp.com.au/n/1102-55-lavender-street-milsons-point-nsw-2061/myrp-490?propertyId=4300169">1102/55 Lavender Street, Milsons Point, NSW, 2061</a>, three-bedroom unit, sold on September 26 by McGrath Estate Agents for $3.3 million
2. <a target="_blank" href="https://www.myrp.com.au/n/13-old-sydney-road-seaforth-nsw-2092/myrp-490?propertyId=6142816">13 Old Sydney Road, Seaforth, NSW, 2092</a>, five-bedroom house, sold after auction on September 26 by Raine &amp; Horne Neutral Bay for $3.05 million
3. <a target="_blank" href="https://www.myrp.com.au/n/22-bellevue-parade-north-curl-curl-nsw-2099/myrp-490?propertyId=4962191">22 Bellevue Parade, North Curl Curl, NSW, 2099</a>, four-bedroom house, sold at auction on September 29 by Smyth Estate Agents Freshwater for $2.59 million
4. <a target="_blank" href="https://www.myrp.com.au/n/46-lyons-street-cottesloe-wa-6011/myrp-490?propertyId=11946260">46 Lyons Street, Cottesloe, WA, 6011</a>, five-bedroom house, sold after auction on September 26 by Acton Cottesloe for $2.5 million
5. <a target="_blank" href="https://www.myrp.com.au/n/11-edgecliffe-avenue-south-coogee-nsw-2034/myrp-490?propertyId=6254864">11 Edgecliffe Avenue, South Coogee, NSW, 2034</a>, five-bedroom house, sold at auction on September 29 by Century 21 Coastline Properties for $2.45 million
6. <a target="_blank" href="https://www.myrp.com.au/n/3-agnes-street-strathfield-nsw-2135/myrp-490?propertyId=6476096">3 Agnes Street, Strathfield, NSW, 2135</a>, six-bedroom house, sold at auction on September 29 by Georges Ellis &amp; Company Strathfield for $2.255 million
7. <a target="_blank" href="https://www.myrp.com.au/n/46-hunter-street-lewisham-nsw-2049/myrp-490?propertyId=3729386">46 Hunter Street, Lewisham, NSW, 2049</a>, five-bedroom house, sold at auction on September 29 by Pilcher Residential for $2.225 million
8. <a target="_blank" href="https://www.myrp.com.au/n/45-lauderdale-avenue-fairlight-nsw-2094/myrp-490?propertyId=2306839">45 Lauderdale Avenue, Fairlight, NSW, 2094</a>, four-bedroom house, sold at auction on September 26 by McGrath Estate Agents for $2.1 million
9. <a target="_blank" href="https://www.myrp.com.au/n/29-kingston-street-haberfield-nsw-2045/myrp-490?propertyId=2777976">29 Kingston Street, Haberfield, NSW, 2045</a>, three-bedroom house, sold prior to auction on September 29 by McGrath Estate Agents for $1.83 million
10. <a target="_blank" href="https://www.myrp.com.au/n/72-abuklea-road-eastwood-nsw-2122/myrp-490?propertyId=2205145">72 Abuklea Road, Eastwood, NSW, 2122</a>, five-bedroom house, sold prior to auction on September 29 by McGrath Estate Agents for $1.7 million 
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jchancellor-FAypfDUnLy

Lavender Bay tops RP Data top 10 sales of the week

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The next upswing in the commercial and industrial property market is expected to commence this financial year led by a new wave of office and hotel construction, according to BIS Shrapnel.
While retail construction is expected to  remain weak, investment in bulky good stores spurred on by the competition between DIY store expansions (Wesfarmers’ Bunnings and Woolworths' Masters) will continue, while suburban malls with a strong supermarket presence will also be the focus of new investment.
BIS Shrapnel forecasts – non-residential commencements by sector
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="205">
 
</td>
<td valign="top" width="205">
$ value
</td>
<td valign="top" width="205">
% growth 2012/13
</td>
</tr>
<tr>
<td valign="top" width="205">
Retail
</td>
<td valign="top" width="205">
$4.1 billion
</td>
<td valign="top" width="205">
-10%
</td>
</tr>
<tr>
<td valign="top" width="205">
Offices
</td>
<td valign="top" width="205">
$5.2 billion
</td>
<td valign="top" width="205">
+13%
</td>
</tr>
<tr>
<td valign="top" width="205">
Accommodation
</td>
<td valign="top" width="205">
$1.4 billion
</td>
<td valign="top" width="205">
+43%
</td>
</tr>
<tr>
<td valign="top" width="205">
Transport
</td>
<td valign="top" width="205">
$857 million
</td>
<td valign="top" width="205">
+26%
</td>
</tr>
<tr>
<td valign="top" width="205">
Warehouse
</td>
<td valign="top" width="205">
$2.3 billion
</td>
<td valign="top" width="205">
+12%
</td>
</tr>
<tr>
<td valign="top" width="205">
Other commercial + industrial
</td>
<td valign="top" width="205">
$792 million
</td>
<td valign="top" width="205">
6%
</td>
</tr>
<tr>
<td valign="top" width="205">
Total for sector
</td>
<td valign="top" width="205">
$15.5 billion
</td>
<td valign="top" width="205">
6%
</td>
</tr>
</tbody></table>
 
Across commercial property, the research firm is forecasting a 6% rise in building commencements in the next financial year after no growth 2011-12 as part of a “prolonged upswing” for the sector.
However, in its Spring 2012 Forecasts, BIS Shrapnel warns that businesses will remain wary about committing to new developments “even as undersupplies in some markets become increasingly evident”.
BIS Shrapnel is forecasting office starts to lift by 13% to $5.17 billion in 2012-13 as the national office market tightens over the next few years. This follows an estimated 4% rise in office commencements to $4.39 billion in 2011-12.
“While the current economic climate is volatile gradual growth is expected which will flow through positively to employment.
“At the same time, the rate of completions will persist at a low level, limiting additional supply. As this occurs effective rents and prices will rise and supply will react in most markets," says BIS Shrapnel.
New building construction in the accommodation sector is estimated to have risen by 21% over 2011-12 to just under $1 billion, and BIS Shrapnel is tipping a 43% surge to $1.35 billion in 2012-13.
 
<hr class="system-pagebreak">
 
“A gradually strengthening global economy will provide support for accommodation demand from both tourists and business, while the addition to room supply will remain constrained given weaken construction volumes over recent years – pushing up room rates and occupancy levels further, encouraging development," says BIS Shrapnel.
“It is noted that while the more business focused CBD markets look relatively healthy, conditions for tourism-focused operators remain tougher, especially in markets like the Gold Coat and borth Queensland,” says BIS Shrapnel.
Retail building is expected to remain weak in 2012-13, with BIS Shrapnel saying that the weaker economy and competition from online retailers has resulted in weaker trading results, meaning that the expansion plans of many retailers and shopping centres developers are on hold.
Despite an expected improvement in economic conditions, the flow-through effect on new shopping centre construction will take time.
Investors wanting to take a punt in the retail space should consider bulky good centres and neighbouring shopping centres, says BIS Shrapnel.
“Bulky goods centres and neighbourhood shopping centres building has outperformed and this is anticipated to continue for the near future.
“This reflects the relatively aggressive expansion plans including ALDI, Woolworths (especially with their new Masters hardware chain), Wesfarmers and Costco."
A sustained commercial property recovery is also tipped by ANZ in its September property outlook update following the sector "plateauing" in 2012.
“Market fundamentals still suggest the broader ex-retail commercial property market is at the early stages of a multi-year cyclical upswing.
“Low vacancy and restricted supply present considerable upside to effective rents, particularly in the office and industrial sectors. Moreover, current yields belie the positive fundamentals and will firm as investor sentiment rebounds,” says ANZ in its report, authored by its head of property research Paul Braddick and other ANZ economists.
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Offices, business hotels and bulky goods stores to lead next commercial property investment upswing: BIS Shrapnel

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The Reserve Bank of Australia’s decision to cut interest rates yesterday will be welcome news for the 36% of Australian households with a mortgage, however it won’t do much for the one in three  households who are renting.
The decision to cut rates by 25 basis points to 3.25% wouldn’t necessarily help those striving to buy a home either.
If interest rate cuts lead to house price increases, which many housing analysts suggest they will, many first-home buyers will still find it hard to get into the housing market.
Mortgage repayments are a function of interest rates and how much people have to borrow, so interest rates are only half the picture. We need government to look at the structural problems that drive up house prices, like negative gearing.
Interest rate cuts also don’t solve the housing problem for the 25% of renters in housing stress.
Until we have a national housing plan to actually make housing more affordable, we will continue to see people under stress across the housing spectrum.
The RBA’s decision to reduce interest rates isn’t the solution to housing affordability. It just greases one cog in an engine that needs a full overhaul.
We need a national housing plan that helps take the pressure off households across the board by increasing the supply of low-cost rentals and addressing the tax breaks that push up house prices.
Sarah Toohey is campaign manager of <a href="https://housingstressed.org.au/" target="_blank">Australians for Affordable Housing</a>.
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stoohey-Wf4skQJiAL

RBA rate cut a help to mortgage holders, but what about the renters?

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The Canberra office market continues to deliver robust levels of stock, as has been the trend for a number of years. Despite equally remarkable net absorption, the flight to quality by large space users has maintained upward pressure on the overall vacancy rate.
Also, recent policy reducing work space ratios in the public service, as well as new requirements on Commonwealth tenants to meet certain "green"credentials in their tenancies, is affecting overall demand.
That said, the overall vacancy rate has decreased recently is under 10% for the first time since December 2009.
Significantly, a large government expressions of interest (EOI) program to secure a new building has ceased, due to financial constraints, in the second half of 2011.
Paradoxically, this type of decision may be a salvation for Canberra’s B-grade buildings, in that sitting government tenants may be forced to renew their leases in these buildings (subject to a refurbishment and an upgrade to 4.5-star NABERS).
Future supply remains robust over the medium to long term; however, only a small proportion of this supply is currently precommitted. As such, the future addition of vacant space, coupled with the resultant backfill from major tenant moves, would place upward pressure on the overall vacancy rate.
Building owners are currently holding on to their assets, rather than selling into a soft market.  However, if the decision is made to sell, secondary grade buildings can be expected to sell at soft yields, with the purchaser more likely to be a private investor or ‘small cap’ fund.
Conversely, there is anecdotal evidence that a number of international buyers are showing interest in new buildings with long leases to the Commonwealth at prices which will show very strong yields if the sales complete
Simon Hemphill is divisional director of research at <a target="_blank" href="https://www.savills.com.au/">Savills ACT.</a>
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Canberra office vacancy rate likely to rise as government tightens its belt

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The Australian Real Estate Investment Trust (A-REIT) sector outperformed the broader equities market over the year to September 30. A-REITs returned 28.9% compared with 14.5% for equities.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/wistoct3.gif"><img src="/images/stories/2012/09/wistoct3thumb.gif"></a>
And they are forecast to continue to provide both distribution and capital growth. This is expected to be as a result of lower debt service costs, the opportunity to redevelop portfolio assets and the potential for a reduction in the currently high distribution yield premium to the risk-free rate.
A-REITs have been taking advantage of low interest rates by refinancing. While there is a cost associated with refinancing, the benefit to earnings of a lower ongoing interest rate is lower debt service costs. Among those A-REITs to have refinanced with lower debt costs are Centro Retail Australia and Goodman Group.
Tight vacancy rates across the office and retail sectors will encourage the redevelopment of assets held in portfolios. On completion of property redevelopment, the rental yield on costs is high relative to outright asset acquisition. The asset value will increase as a result of the redevelopment. This redevelopment income into A-REITs will compensate for slowing office leasing activity, lower specialty and department store sales, which have put pressure on rent growth and slower residential development lot sales. Mirvac and Westfield Group are among the A-REITs with substantial asset redevelopment pipelines.
The 10-year government bond rate is the risk-free rate. The difference between the A-REIT yield and the bond rate represents the premium offered by A-REITs.
This premium compensates for the business risks associated with A-REITs. The current A-REIT sector distribution yield is 6.2%, which sits significantly above the benchmark 10-year bond rate of 3%, giving a current premium of 3.2%. The five-year average A-REIT yield premium is 1.8% above the 10-year government bond rate. The difference of 1.4% between the current premium and the five-year average represents potential for capital gain from yield tightening as the premium reverts to mean.
This combination of lower debt funding costs, the potential redevelopment activity of properties already held in portfolios and the relatively high yield premium will provide the scope for A-REIT distribution and capital growth over the coming year.
Mark Wist is senior asset consultant at <a href="https://www.atchison.com.au/" title="Atchison Consultants" target="_blank">Atchison Consultants</a>.
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markwist-Vaq6S8Xoby

A-REITS set for capital growth as sector outperforms equities

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A private investor has paid $800,000 at auction for a two-storey shopfront and residence on Puckle Street, the popular retail strip in Moonee Ponds in Melbourne’s north-west.
It also features a courtyard and two rear car spaces.
<img src="/images/stories/2012/09/margaretstshop.jpg">
<a href="https://www.realcommercial.com.au/property-retail-vic-moonee+ponds-500392031" target="_blank">The property </a>(pictured above) was marketed by Campbell Dickinson of Rendina Real Estate Kensington, who tells Property Observer he received “good interest” from around 20 parties over the four weeks leading into the auction.
The ground floor is leased to Yim Yam Thai Laos Restaurant on a three-year lease with a three-year renewal option started this year in January.
Yim Yam Thai Laos is paying $24,500 per annum plus GST and outgoings.
The three-bedroom apartment above is currently leased on a month to month, equating to $16,000 per annum.
Combined, the two spaces provide monthly income of around $3,375 per month, a gross yield of around 5% when fully leased.
Dickinson says the investor might look to develop the property down the track.
According to research by Knight Frank, <a target="_blank" href="https://www.propertyobserver.com.au/retail/melbourne-shopping-strip-bridge-road-richmond-has-highest-vacancy-rate-in-five-years/2012091656593">Puckle Street has one of the lowest vacancy rates of the suburban retail strips</a>, with vacancies rising just 0.5% to 4.2% over the past two years.
Realcommercial.com.au lists five shops available for rent on Puckle Street.
For more commercial property sales, visit our dedicated Commercial hammer prices section on the website
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