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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Payless Shoes has become the latest corporate victim to succumb to poor consumer confidence, with the discount footwear chain with more than 220 locations now placed in voluntary administration.
The collapse of the business highlights turmoil not only in the fashion industry and footwear, which have suffered collapses and poor sales during the past year, but also the downturn in retail overall.
WHK principal David Gordon says while there are some categories of footwear that are doing extremely well, others in the discount space are struggling to make an impact.
"One of the other issues is that the stores are a bit old, and because of financial difficulties you haven't seen them put much money into the stores."
"They've just reached a point where problems continue to get worse and worse ... and it all catches up with you."
The move comes after two other significant retail chains, <a href="https://www.propertyobserver.com.au/retail/darrell-lea-s-27-retail-stores-to-close-as-chocolate-maker-sells-to-queensland-s-quinn-family/2012090356379" target="_blank">Darrell Lea</a> and <a href="https://www.smartcompany.com.au/finance/049900-game-retail-chain-to-shut-60-stores-281-jobs-lost" target="_blank">GAME</a>, were also placed in administration during the past few months. Both companies announced plans to close all stores.
The uncertain Payless Shoes will likely impact on retail landlords, <a target="_blank" href="https://www.propertyobserver.com.au/retail/retail-landlords-westfield-and-centro-hit-hardest-by-payless-administration/2012092456756">with Centro and Westfield the hardest hit.</a>
Insolvency group Jamieson Louttit &amp; Associates was called in last week, following the resignation of the managing director. Deloitte partners David Lombe and Vaughan Strawbridge were appointed as administrators on Friday.
Both were contacted this morning, but neither was available to comment before publication.
The company is one of the largest footwear businesses in the country, with 230 locations across the country.
Gordon says it isn't necessarily the footwear industry that's suffering, but rather the space of retail Payless Shoes had carved out for itself.
"There are certain categories in footwear that are doing quite well. Those include retailers that are catering for the older market who require more footcare, including people over 45 who need decent shoes, and they're not afraid to spend more."
"The others that are doing well are the fashion types, and that includes even the less expensive fashion stores."
Payless, Gordon says, operated in a "discount no man's land".
"The only real factor they have to offer is that they're offering shoes at a very good price. But if that's all you've got, people aren't going to spend."
Westfield recently reported footwear sales are down 1.8% for the 12 months to June 2012, and were down 2.3% in the second half of that same year. Given shoes can often be a discretionary purchase, many customers will opt to wait for longer than usual when deciding to purchase new shoes.
Payless Shoes faces stiff competition, not only from cheaper players like Kmart and Target, but also specialised retailers like Athlete's Foot – which has been one of the strongest-performing retailers in the past few years.
Gordon says the connection to the customer is simply lost.
"The message was, come to us and we'll give you cheap footwear. But people don't see that as a trigger to purchase shoes anymore."
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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pmcstafford-pr9eMARWoN

Payless trodden into voluntary administration by poor consumer confidence

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The head of Ritchies IGA has accused the major supermarkets of land banking, which he says disadvantages small businesses, and has called for a two-year moratorium on building new retail spaces.
Ritchies operates 70 of the supermarkets which are part of the IGA's network of 1,400 independent grocers.
Fred Harrison, chief executive of Ritchies IGA, told SmartCompany the current pace of retail development was likely to disadvantage small business and he called for a two-year moratorium on development.
"I just think there is basically an oversupply of retail in Australia at present and we know retail is genuinely struggling. It is not just one sector, it is across the board," he says.
"There are enough indications now that retail life is fairly tough, it has not been tough for a day or week or month; it has been tough now for 18 to 24 months."
Harrison said the amount of available retail floor space in Sydney and Melbourne had increased from two to three square metres per person in the three years to 2010.
"Our population is not growing at a dramatic rate but the level of retail development in recent years has been phenomenal," says Harrison.
"Rather than just having more and more stores being built across the board maybe we should complete what we have and let existing businesses consolidate, because it is not going to be good if we end up with empty retail tenancies."
Harrison says it is "not the most level of playing fields" for small businesses to compete with Coles and Woolworths and accused the two supermarket giants of buying up land in order to block competition.


<hr class="system-pagebreak">
"I believe there has been a lot of land banking and I think because of that they have such high subsidies across so many different businesses so they can use one business to subsidise another," he says.
"Naturally, the big end of town is going to be anti these sentiments but there are a lot of small businesses out there that don't have the clout or push to get on TV or to get in the business section of the papers so, in many respects, we are speaking for them."
SmartCompany asked Harrison if it was realistic to propose a two-year moratorium on retail building. "Everything is realistic: Did we think a carbon tax was realistic a couple of years ago?" he says.
"Do we want to go the path of the UK or Spain with acres and acres of empty tenancies? I think it needs to be discussed."
Harrison's comments follow the Australian Competition and Consumer Commission's concession that<a href="https://www.smartcompany.com.au/retail/051807-independents-warn-of-clear-and-present-danger-as-accc-says-coles-and-woolies-may-escape-legal-action">there is not much it can do about claims of anti-competitive behaviour </a>by Coles and Woolworths.
A spokesperson for Coles told SmartCompany, "Coles is not in the business of opening unprofitable stores, we only open stores where we believe there is customer demand for our offer."
Woolworths did not respond to requests for comment before publication.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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cwaters-YrtBR88nBe

Ritchies IGA calls for two-year moratorium on new retail space

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The federal government’s Australian Office of Financial Management (AOFM) has defended itself against claims that it bought fraudulent, high-risk low-doc loans with taxpayers’ money.
Since November 2008 the AOFM has invested in residential mortgage-backed securities worth $11 billion under a government program to maintain competition in mortgage lending.
The program was set up in the wake of the GFC, when non-bank lenders and other smaller lenders could no longer sell their packages of home loans to offshore investors – a process known as securitisation.
The claims against the AOFM were levelled as part of submissions made to the Senate Inquiry into the post-GFC banking sector, where public hearings resuming on Friday in Canberra.
Giving testimony to the inquiry on Friday, AOFM chief executive Rob Nicholl said there were “no 'sub-prime' loans amongst the mortgages underpinning the RMBS in which the AOFM has invested”.
Nicholl said the AOFM had taken a conservative approach to mortgage investments and had only participated in one transaction where the share of low-doc loans was greater than 10% of the underlying pool of mortgages.
In this case, the AOFM only invested $10 million, “of which over half has been repaid without incident”.
In total, Nicholl says low-doc loans account for less than 2% of all the loans it has invested in through the government scheme, with lenders required to insure themselves against the risk of borrowers defaulting.
In a worse-case scenario, only 0.5% of the AOFM’s investments would be at risk, Nicholl says.
The AOFM’s $11 billion worth of mortgage investments are part of a total pool of mortgages worth $25 billion (the AOFM acted as cornerstone investor) – of  which $400 million are sub-prime loans, reported Fairfax Media journalist Clancy Yeates.
 
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lschlesinger-FZcF9M3vE6

Government mortgage financier not exposed to low-doc risk: AOFM chief executive

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The property market has suffered a difficult year, but recent auction and price results indicate the market is on its way up.
And with economists and analysts alike expecting a rate cut before the end of the year, things are looking good for budding property investors.
Melbourne and Sydney recorded higher than usual auction clearance rates this weekend – both were higher than the corresponding weekends in 2011.
And the most recent daily figures from RP Data, taken yesterday, show prices in the five capital cities have increased 1.99% over the last quarter. In Melbourne specifically, prices have increased by 3.1% and in Sydney by 2.4%.
The only market to record a drop in the last quarter was Brisbane, down by only 0.13%.
The property market in Melbourne never fully takes off until after the AFL grand final, which is being played this coming Saturday. Many auctions have been brought forward, with the city recording 624 auctions on the weekend.
The city reached a clearance rate of 64%, compared to 52% for the same weekend last year.
"In light of the increase in stock, this is quite a healthy result. It continues the trend this spring with the clearance rate being consistently a few points higher than last year," chief executive Enzo Raimondo said in a statement.
"Due to the AFL Grand Final there will only be about 20 auctions held next Saturday, all of which are scheduled for noon or earlier. Due to this very low number a clearance rate will not be published."
The results were similar in Sydney. The city recorded 504 auctions with a clearance rate of 67.3%, compared to 56% both last week and in 2011.
SQM Research managing director Louis Christopher says even when the unreported auctions are taken into account, the clearance rates still improve on last year.
"Definitely the performance on the weekend was reflecting the fact we had a significantly higher number of auctions."
"Even if you take into account the worst case scenario with these unreported auctions, it still means the clearance rates are higher. So it's a fairly strong result, and even when you're taking everything into account."
Economists also expect a rate cut – or two – before Christmas. Christopher says even one would give the early positive signs a much-needed boost.
"We can't read too much into one weekend. But, that said, this is now the fourth or fifth week now where we've had clearance rates higher than this time last year. That's a signal there's a trend there."
"If we see another rate cut before Christmas time that would add more fuel there. But it's looking pretty positive."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Property auction clearance rates bettering September 2011

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The uncertain Payless Shoes future – following last Friday's voluntary administration – will likely impact on landlords, with Centro and Westfield the hardest hit.
Westfield is the landlord of 30 outlets of the discount shoes company. The plurality of these, 13 stores, are in NSW.
There are another six outlets each in Victorian and Queensland Westfields, along with two each in the ACT and Western Australia and one in South Australia, as currently listed on the Payless Shoes website.
Centro Centres has 14 NSW Payless Shoes stores, followed by 10 in Victoria, six in Queensland, three in Western Australia and one each in South Australia and Tasmania.
NSW was the dominant location of all the 234 stores with 105 <a target="_blank" href="https://www.propertyobserver.com.au/retail/payless-trodden-into-voluntary-administration-by-poor-consumer-confidence/2012092456761">Payless Shoes outlets.</a>
Second was Queensland with 54 stores; Victoria third with 44, followed by 15 in Western Australia, seven in Tasmania, five in South Australia and only four in the ACT.
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abishara-dhmMVBjDxV

Retail landlords Westfield and Centro hit hardest by Payless administration

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While the RBA held firm on the cash rate in August and September, eight lenders on the RateCity.com.au database have reduced interest rates on a total of 12 variable rate mortgage products.
The rate cuts have been introduced on a range of variable-rate products, including standard variable, basic variable, introductory variable and special variable rate offerings.
Non-bank lenders Hemisphere Financial (backed by Resimac) and Resi Mortgage Corporation have reduced rates on three of their variable-rate products.
Other lenders to reduce variable-rate offerings include Bankwest, credit union ECU Australia and non-bank lender State Custodians.
The rate cuts range from 2 basis points to 25 basis points:
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="93">
Company
</td>
<td width="123">
Product
</td>
<td valign="bottom" width="123">
Type
</td>
<td width="94">
Current Rate
</td>
<td valign="bottom" width="76">
Rate at Aug RBA meeting 
</td>
</tr>
<tr>
<td width="93">
Hemisphere Financial
</td>
<td width="123">
Alt Doc Loan
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.49%
</td>
<td valign="bottom" nowrap width="76">
6.74%
</td>
</tr>
<tr>
<td width="93">
Hemisphere Financial
</td>
<td width="123">
Quickstart Loan
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.39%
</td>
<td valign="bottom" nowrap width="76">
6.64%
</td>
</tr>
<tr>
<td width="93">
ECU Australia
</td>
<td width="123">
Introductory Home Loan 1 yr
</td>
<td valign="bottom" nowrap width="123">
Intro Variable
</td>
<td width="94">
5.94%
</td>
<td valign="bottom" nowrap width="76">
6.19%
</td>
</tr>
<tr>
<td width="93">
Hemisphere Financial
</td>
<td width="123">
Home Loan
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.09%
</td>
<td valign="bottom" nowrap width="76">
6.34%
</td>
</tr>
<tr>
<td width="93">
RESI Mortgage Corp
</td>
<td width="123">
FlexiFix Pro Revert
</td>
<td valign="bottom" nowrap width="123">
Special/Other Variable
</td>
<td width="94">
6.06%
</td>
<td valign="bottom" nowrap width="76">
6.27%
</td>
</tr>
<tr>
<td width="93">
Bankwest
</td>
<td width="123">
Mortgage Shredder Intro Variable 1 yr
</td>
<td valign="bottom" nowrap width="123">
Intro Variable
</td>
<td width="94">
5.78%
</td>
<td valign="bottom" nowrap width="76">
5.98%
</td>
</tr>
<tr>
<td width="93">
Rate Busters
</td>
<td width="123">
Ultimate
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
5.82%
</td>
<td valign="bottom" nowrap width="76">
6.01%
</td>
</tr>
<tr>
<td width="93">
RESI Mortgage Corp
</td>
<td width="123">
FlexiFix Revert
</td>
<td valign="bottom" nowrap width="123">
Special/Other Variable
</td>
<td width="94">
6.06%
</td>
<td valign="bottom" nowrap width="76">
6.16%
</td>
</tr>
<tr>
<td width="93">
RESI Mortgage Corp
</td>
<td width="123">
FlexiFix 75 Revert
</td>
<td valign="bottom" nowrap width="123">
Special/Other Variable
</td>
<td width="94">
5.96%
</td>
<td valign="bottom" nowrap width="76">
6.06%
</td>
</tr>
<tr>
<td width="93">
State Custodians
</td>
<td width="123">
Breathe Easy Offset
</td>
<td valign="bottom" nowrap width="123">
Basic Variable
</td>
<td width="94">
5.97%
</td>
<td valign="bottom" nowrap width="76">
6.07%
</td>
</tr>
<tr>
<td width="93">
Homestar Finance
</td>
<td width="123">
No Fee Offset
</td>
<td valign="bottom" nowrap width="123">
Standard Variable
</td>
<td width="94">
6.05%
</td>
<td valign="bottom" nowrap width="76">
6.10%
</td>
</tr>
<tr>
<td width="93">
IMB
</td>
<td width="123">
Essentials
</td>
<td valign="bottom" nowrap width="123">
Basic Variable
</td>
<td width="94">
5.99%
</td>
<td valign="bottom" nowrap width="76">
6.01%
</td>
</tr>
</tbody></table>
 
Source: RateCity.com.au
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The eight lenders that have cut variable mortgage rates since the RBA's August meeting

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House prices could rise by as much as 15% between now and late 2013 as rate cuts improve affordability, according to Australian Financial Review economic writer David Bassanese.
According to Bassanese, there is a “broad inverse relationship” between current mortgage repayment levels and subsequent house price gains.
“That should be no surprise, because if the required home loan repayment is relatively low, house prices (all else constant) will tend to be bid up," he says.
Bassanese, a 20-year economics veteran, expects interest rates to fall by 100 basis points over the next 12 months – taking the cash rate to 2.5%.
This, he says, will result in further reductions in mortgage rates, which are already at below-average rates, reducing monthly mortgage repayments.
And if per capita household incomes grow by around 4% at the same time as mortgage rates drop, he estimates that repayment levels would drop to 20% below their long-run average by next year – around lows last seen in mid-2009.
Bassanese has compiled his own housing affordability index dating back to 1986 based on the eight capital city established house price produced quarterly by the ABS, quarterly disposable income per capital (also compiled by the ABS) and the discounted bank variable mortgage rate compiled by the RBA.
The Bassanese index measures the mortgage repayment required as a percentage of household disposable income per capita – assuming house prices track changes in the ABS house price index
“The results suggest that as at the June quarter, the mortgage repayment as a percentage of disposable income was around 6% below the average since mid-1986.
According to Bassanese below-average mortgage rates more than offset the house prices to disposable income ratio, which is currently running at 16% above its long-run average.
He says declining mortgage rates and high affordability were the factors behind the mid-1990s property boom.
And he argues that the fact that house prices to income have remained at this high level since mid-2003 suggests this was a “sustainable one-off adjustment due to the structural drop in mortgage rates”.
“As Reserve Bank governor Glenn Stevens once remarked, if house prices are in a bubble then they been that way for an extraordinarily long time,” says Bassanese.
Bassanese's predictions of a 100-basis-point reduction in the cash rate over the next 12 months is broadly in line with the forecasts of some noted economists.
Last week Westpac chief economist Bill Evans changed his rates forecast to two consecutive 25-basis-point rate cuts in October and November and a further 25-basis-point rate cut in the March quarter.
ANZ Research is also forecasting two rate cuts in October and November with an easing bias thereafter.
A quarter of the 20 economists polled by Bloomberg on Friday expect a 25-basis-point rate cut in October.
The five are: ANZ, Westpac (Bill Evans), AMP (Shane Oliver), BT Financial (Chris Caton) and Market Economics (Stephen Koukoulas).
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House prices to surge 15% by late 2013 as rates fall 100 basis points: Australian Financial Review’s David Bassanese

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Mirvac chairman James MacKenzie is seeking to win the approval of shareholders by volunteering to stand for re-election at the developer’s next AGM on November 15.
A spokesperson for Mirvac said MacKenzie had decided to stand for re-election "as he believes it is the right thing to do".
MacKenzie will stand for re-election alongside non-executive directors John Peters and Marina Darling and recently appointed finance director Gregory Dyer.
ASX rules require that one-third of an existing board must be re-elected at each annual general meeting, with MacKenzie agreeing to fill the one remaining spot.
The Australian reported that if MacKenzie had not volunteered either James Millar or former Suncorp CEO John Mulcahy would have stood for re-election based on a rotation system.
MacKenzie has been under pressure from institutional minority shareholders following his decision to replace current managing director Nick Collishaw with Europe-based Sue Lloyd-Hurwitz.
Collishaw will step down as managing director and CEO on October 31, with Lloyd-Hurwitz taking on the mantle on November 5.
His move to seek re-election has been welcomed by <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/institutional-investors-pressure-embattled-mirvac-chairman-james-mackenzie-and-board-over-decision-to-replace-ceo/2012091056495">fund manager Winston Sammut of</a><a target="_blank" href="https://www.propertyobserver.com.au/industry-news/institutional-investors-pressure-embattled-mirvac-chairman-james-mackenzie-and-board-over-decision-to-replace-ceo/2012091056495"> Maxim Asset Management</a>, who represented shareholders with a cumulative holding of 13% of Mirvac calling for MacKenzie to step down.
"It is now going to be decided by all shareholders," Sammut said.
Australian Shareholders Association chief executive Vas Kolesnikoff says it will be closely scrutinising the re-election of MacKenzie.
Mirvac’s substantial shareholders include the Barclays Group (4.91%), Commonwealth Bank (6.33%), BlackRock Investment Management Australia (5.16%) and Vanguard Group (6.21%)
Ahead of the November 15, MacKenzie will meet with shareholder proxy groups to shore up support.
MacKenzie already has the backing of the Mirvac board.
The Mirvac board comprises MacKenzie plus Marina Darling (only appointed in January 2012), Peter Hawkins (a banker with previous senior roles at ANZ), James Millar (former CEO of Ernst &amp; Young Oceania), former Suncorp CEO John Mulcahy, John Peters (formerly with Lend Lease) and Elana Rubin.
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Mirvac chairman James MacKenzie volunteers for board re-election to take on doubters

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Westpac has become the latest mortgage lender to cut its fixed-rate mortgage rates as the battle continues to attract and lock in cautious borrowers in low-priced fixed mortgage deals.
When including the discounts of 0.2 percentage points in Westpac's Premier Advantage Package (PAP) are included in the latest reductions, the new offers will see the following rates apply:
<ul>
<li>Two-year fixed-loan – down 0.15 percentage points to 5.54%</li>
<li>Three-year fixed-loan – down 0.1 percentage points to 5.54%</li>
<li>Four-year fixed-loan – down 0.1 percentage points to 5.89%</li>
<li>Five-year fixed-loan – down 0.1 percentage points to 5.89%</li>
<li>The existing discounted one-year offer remains unchanged at 5.69%.</li>
</ul>
The bank now offers the cheapest three-year fixed home loan rate, compared with 5.59% offered by the Commonwealth Bank and 5.64% on offer from NAB.
It takes the popular three-year fixed-rate loan to its lowest level since April 2009.
It also offers the lowest big four bank two-year fixed of 5.54%, four-year fixed at 5.89% and five-year fixed at 5.89%.
"We have experienced an increasing demand for fixed-rate loans, particularly for extended periods of time as a growing number of our customers look for certainty, security and peace of mind over their mortgage repayments,” says Jason Yetton, group executive of Westpac's retail and business banking division.
"As a result, we are pleased to be able to offer these very attractive rates that put us in a market leading position amongst our major peers in what is a very competitive market."
Westpac’s move to slash fixed-rates follows <a target="_blank" href="/news">Citibank repricing its one-, two- and three-year fixed-rate home loans to 5.55% per annum</a>, a reduction of 44 basis points over the past month.
ME Bank is currently offering the lowest three-year fixed rate at 5.39% for its super and union members, according to ratecity.com.au – 23 basis points below the lowest variable home loan rate on the RateCity database (5.62% from UBank)
The push to offer lower fixed rates comes as demand for the products rises with RateCity.com.au reporting that close to one in five home loan enquiries (18%) in August were fixed-rate inquiries, compared with just 5% in July.
Mortgage Choice also recorded a 33% increase in fixed-rate borrowers in August – rising from 15% of all loans arranged to 20%.
Three-year fixed rates are starting from as low as 5.39% – that’s 23 basis points below the lowest variable home loan rate in the RateCity database (5.62%).
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Westpac undercuts major rivals with fixed rate cut

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After a sluggish winter, spring brings hope of fresh movement in Australian property sales. According to the nation’s leading property, accounting and wealth financial advisory group, Chan &amp; Naylor, this is a great time for those with investments in housing, but anybody hoping to join the property ladder down the line now has a conundrum to face: Australian property is high in demand and supply is low.
Despite recent figures from The Economist stating the Australian housing market is overvalued by 36%, and reports locally and abroad concerned over an apparent property bubble in Australia, now is the time for hesitant property investors, including first-time buyers, to make their move if they want in on the Australian dream.
Moreover, if Australia is to avoid the boomerang effect taking place around the world, whereby millions of adult children are returning home to reside with parents into their 30s, it is crucial that first-time buyers start considering property investment as a way into the market rather than focusing initially on home dwelling options.
Potential investors sitting tight for a bubble to pop could be waiting a long time.
According to a recent study by KPMG, 60 years ago house values in Australia stood at roughly seven times the yearly household income and today that figure stands at a very close 6.9%.
Property values have remained on an upward trend with modest corrections within a cycle, and there are no signs to suggest we are heading for a major downward turn.
High living standards, low and controlled interest rates, relatively high population growth, undersupply and a healthy banking system are only a few reasons why buying property in Australia is an attractive option for personal occupancy or investment. In fact, demand is undeniably set to grow.”
Some of the key drivers contributing to the rise in housing demand include:
<ul>
<li>Retirement of the baby boomer generation and the widening skills gap left behind require further skilled talent to replenish skills and the tax base, which will inevitably come from abroad;</li>
<li>The wealth and opportunity offered by Australia, which attracts skilled migrants from neighbouring countries each year;</li>
<li>The steady entry of five million Generation Ys into the market, which, according to projections by the Australian Bureau of Statistics, will raise the demand for housing by 15% on the previous generation, as more attempt to edge away from the family home; </li>
<li>A diminishing amount of available land for new housing, as people flock to city hubs;</li>
<li>A lack of government initiatives to ensure Australia has an adequate housing supply; and </li>
<li>The sum of these things will keep the value and cost of existing housing high.</li>
</ul>
 
<hr class="system-pagebreak">
 
Given growing demand, smart buyers will invest now, but too many assume the first property they buy is going to be the one in which they live and grow old and so they hold out for the Australian dream to come along and potentially either miss the boat or pay a higher entry price.
In the current landscape, investors – particularly those buying for the first time – become more strategic in their approach. For example, a first property could be used for rental purposes as opposed to becoming a buyer’s first home.
This would not only generate income, but allows investors to use that property as a security for funds to buy a more desirable home down the line. These investors must do the numbers as the ability to purchase a more strategic property may outweigh any grants available. The tail should not wag the dog.
Property acquisition should be treated as a business process as opposed to an act of the heart and realise that it can be a stepping-stone towards acquiring the perfect home later in life.
Property is the biggest asset most people will own, and so they need to surround themselves with professionals who can offer advice in making considered and informed decisions, such as buying in the right market and property cycle or choosing a property with the opportunity to create equity through renovation or improvement, boosting both capital value as well as rental yield.
Parental support may be an option for adult children lacking sufficient funds to get on the property ladder, but this requires caution. A simple and formal loan agreement to help with a deposit is considered safer than becoming co-guarantor – 100% liability for the debt and no assets can lead to a negative equity trap in cases of bankruptcy or where the child splits from a partner the guarantor could be left holding the debt with no asset.
While for the likes of the UK, the rise of the ‘boomerang generation’ is driven predominantly by high levels of unemployment and a poor economy, Australia could find itself experiencing a similar effect, not because our economy is weak, but because not enough is being done by the government to prevent a housing shortage.
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