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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Two Chinese companies have struck a $68.5 million deal with Sunland Group for the world’s first fashion house-branded hotel, Palazzo Versace.
<img src="/images/stories/2012/08/palazzo1.jpg">
Property Observer reported three weeks ago that offshore<a target="_blank" href="https://www.propertyobserver.com.au/leisure/chinese-investors-eyeing-up-sunland-s-%2460-million-plus-palazzo-versace-on-gold-coast/2012082956306"> Chinese investors were eyeing up the hote</a>l, with the market tipping $60 million plus.
 The Chinese investors include a construction group and a travel company, but the $68.5 million deal is awaiting approval by the Foreign Investment Review Board.
<img src="/images/stories/2012/08/palazzo2.jpg">
 The deal comes with a twist, as the Chinese pair will have the ability to turn out more Versace-branded hotels if approved by the Versace powerhouse and the FIRB.


<hr class="system-pagebreak">
<img src="/images/stories/2012/08/palazzoversace.jpg">
The Gold Coast offering ranked as the world’s first fashion house-branded hotel in 2000.
Marketing for the hotel began back in April by Sam and Dan McVay of McVay Real Estate, where the hotel was first expected to sell close to $80 million.
<img src="/images/stories/palazzov.jpg">
 Upon approval of the sale, the proceeds will first pay off a debt of $27.4 million on the property.
 The hotel is being sold by property developer Sunland in order to reinvest in other projects.
<img src="/images/stories/2012/08/palazzo3.jpg">
 “Palazzo Versace was very significant in the history of Sunland,”Sunland Group managing director Sahbah Abedian told the Gold Coast Bulletin.
 “Our strategy has always been threefold, to continue to consolidate our capital management through our share buyback program, to maintain a conservative balance sheet and to organically create our portfolio.”
 “This allows us to have no debt at all on our balance sheet and to look to further acquisitions,” says Abedian.
 The official announcement suggested settlement of the sale was anticipated for November 30.
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ntrotman-Et3xWpamVh

Chinese buyers await FIRB approval to secure Palazzo Versace

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Where we are in the property cycle and what’s ahead for our real estate markets?  That’s one of the most common question I’ve been asked lately.
My many years as a property investor have taught me not to try too try too hard to predict our markets year by year, but instead to take a long-term view, then allow for cycles around this long-term trend and be prepared for uncertainty, surprises and the unexpected.
However, today I’ll share with you where I see some of our major property markets sitting on the proverbial “property clock”. 
Firstly some context:
Of course there’s not one property market in Australia. Each state is at its own stage of the property cycle, and each has multiple markets segmented geographically, by type of property and by price point.
Apartments are performing better than houses, luxury homes are not performing as well as median-priced properties, and regional properties are in general underperforming capital city dwellings. 
However, there are opportunities in every market.
Remember, you are not buying “the market.” As a strategic investor you would be buying an individual property in that market that you would be happy to hold in your portfolio in the long term and one that was bought sufficiently below intrinsic value so that even if the market fell a bit further, you would still have bought well. 
So let’s look at what’s happening around the Australian property markets.
 
<hr class="system-pagebreak">
 
Sydney While the overall market in Sydney has been flat over the last year, with median house prices down by around 1%, there's growing confidence in the harbour city.
After languishing for some years, the top end of the market is showing early signs of increasing demand, especially in the eastern and lower north shore suburbs.
While there is also increasing demand for houses in the middle and lower end of the market, over the last few years Sydney’s apartment market has outperformed the housing market, with stronger rental and capital growth.
A good example of this is the strong demand from owner-occupiers for units in Sydney’s inner west. A shortage of available “good” stock relative to demand is pushing up prices in these suburbs, which are going through gentrification.
Apartments in Sydney’s eastern, beachside suburbs and lower north shore suburbs are also performing well. However, buyers are being very selective and avoiding properties that are overpriced or apartments in secondary locations.
Strong rental demand, a shortage of rental properties, tightening vacancies and rising rents means investors will vie for the same apartments as owner-occupiers, underpinning prices.
The market for well-located apartments is likely to remain strong throughout spring, and this will be helped if interest rates fall once more as expected.
Melbourne
After falling in value over the first quarter of the year, the Melbourne housing market has been a bit of a surprise, performing better than many expected, with prices rising around 3% over the last quarter, clawing back half of their losses.
Again different segments of the market are at different stages of the property cycle.
Builders and developers have gotten ahead of themselves, and there is a substantial oversupply of newly built house-and-pland packages in the outer suburbs, especially in the west and the north. This will create downward pressure on property values in these locations and for properties in the first-home buyer category in general.
The top end of Melbourne’s property market is still quiet with an oversupply of property relative to the reduced demand for luxury property, however there is more demand for properties priced between $500,000 and $900,000 in the inner- and middle-ring suburbs of Melbourne.
With too many new apartment projects under construction there is an oversupply of CBD and near-city apartments at a time when there is less demand. This will put downward pressure on prices and rentals for apartments, yet interestingly Residex reports that house rents in Melbourne increased by 10.53% in the past year.
Many of the apartments that have been sold off the plan are coming on stream over the next few years and have been purchased by investors. Some will have difficulty getting finance and settling their purchases. Others will be disappointed to see the end value of their properties is less than their purchase price.
This oversupply of apartments will overhang the Melbourne market for a few years, causing prices to fall slightly.
However established apartments with an element of scarcity, for example Art Deco features, are still selling well, as there is limited supply in relation to the current demand for these types of properties in Melbourne’s bayside, eastern and south-eastern suburbs.
On the whole though, I expect the Melbourne market to remain subdued for a while but, as in every market, there are some great buying opportunities, especially for properties to which you can add value through renovations and manufacture capital growth.
 
<hr class="system-pagebreak">
 
Brisbane After a number of tough years Brisbane median house prices fell 0.60 % and unit prices fell 0.61% over the last year, according to Residex. The Brisbane market is now hovering near the bottom of its cycle.
Buyers are lacking confidence to re-enter the market and are sitting on the sidelines waiting for signs that the market has bottomed before they make a purchase. Many were waiting for the resources boom to reignite their property market, but recent negative media has dampened their confidence.
However we’re seeing more strategic investors getting a foothold in the Brisbane market, recognising that it’s a “buyers’ market” and taking advantage of countercyclical opportunities.
There is an oversupply of apartments in the Brisbane CBD and surrounding suburbs, with over 40 projects currently being marketed. Many of these apartments will remain unsold, and this oversupply of properties will put downward pressure on prices and rentals.
The Brisbane detached house market is still languishing but on the way to bottoming out. House prices have dropped for the last few years in Brisbane, but there are signs that the inner and middle-ring Brisbane home market is picking up with more buyers returning and many properties now selling under multi-offer scenarios.
All this means that Brisbane is entering the stabilisation phase of its property cycle, but prices are unlikely to start rising until 2013.
The good news for property investors is that house rents in Brisbane increased by 14.47% in the past year.
Perth The Perth property market, which has been in a slump for the last five years, appears to be moving again, with median house prices increasing by 3.17% and apartments by 10.05% over the last year, according to Residex.
All the fundamentals are positive – Western Australia has Australia's strongest economy, lowest unemployment rate and highest wages. Rents for both units and houses are rising, and there is an increasing shortage of accommodation for the increasing number of buyers and tenants.
It’s the old supply and demand ratio at play. Population growth is strong and and levels of construction have been low for the last few years, so the cycle is moving on. And so are rentals. According to Residex, house rents in Perth increased by 16.46% in the past year.
 
<hr class="system-pagebreak">
 
Adelaide The Adelaide property markets are flat at present. Median house prices fell 2.45 % and unit prices fell 2.1% over the last year and median rents remained steady, according to Residex.
Since the announcement of postponing any additions to the Olympic Dam project, confidence is waning, as many locals were hoping this project would turn South Australia into the next big mining state. Unfortunately there is nothing in the wings to suggest this market will change in the near future.
Darwin Darwin’s property markets have performed well, with median house prices increasing by 3.37% and unit prices by 5.95% over the last year, according to Residex.
Darwin’s market tends to be volatile and seasonal but is underpinned by increased activity in the resources sector, especially offshore resources.
Canberra Median house prices in the ACT fell 0.26 % and unit prices fell 5.47% over the last year, according to Residex.
But the market may be turning as Canberra has low unemployment, relatively high public service incomes and a shortage of accommodation, especially at the cheaper end of the market.
Hobart Residex reports that median house prices in the Hobart fell 6.36 % and unit prices fell 6.68% over the last year and that median house rents did not increase.
While the Hobart property market has performed relatively well over the longer term, a weaker economy that lacks exposure to the mainland's resources boom and its relative isolation suggest there are better places to invest in property.
In summary:
Looking at the Australian property markets I see the glass being half full, while I know a lot of people see it half empty. 
There are some excellent property investment opportunities for long-term investors. If you have a secure job and the ability to service a loan, and that’s become much easier recently, now is the time to consider buying a well located residential investment property. 
Does that mean the markets have bottomed?
My honest response is I have no idea, but the answer is probably not in some areas. 
But my question to you is – “are we buying ‘the market’?" Clearly the answer is no. 
What I recommend is that you consider investing in a property that you would be happy to hold in your portfolio in the long term and one that was bought sufficiently below intrinsic value so that even if the market fell a bit further, you would still have bought well.
Michael Yardney is the director of <a href="https://www.metropole.com.au/" target="_blank">Metropole Property Investment Strategists</a>, a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the<a href="https://propertyupdate.com.au/category/property-investment/" target="_blank"> Property Investment Update blog.</a>
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myardney-DFoGhGbSJX

Where property investors should look to buy in each capital city market: Michael Yardney 

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9/14-20 Madeira Street, Sylvania, NSW 2224
<img width="470" src="/images/stories/2012/09/madeira.jpg">
Currently tenanted until March 2013 at $620 per week, this three-bedroom near-new townhouse has a spa bathroom, front and rear courtyards and a laundry. It is within easy walking distance of shops, cafes and transport.
Ray White listing agents Dave Watkins, Kim Nolan and John Basa <a target="_blank" href="https://www.raywhite.com/nsw/sylvania/839585/">are marketing the property</a> with price hopes of $550,000 plus, and if it sells for that price, that would secure an investor a gross rental yield of 5.9% at its current rent, well above the gross rental yield for Sylvnia houses of 3.6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $20,000 and over five years to be $60,000.
The median house price in Sylvania rose 4% in the past year and 27.4% in the past five years, according to RP Data.
The property will be open for inspection on Saturday, September 22 at noon and will go to auction on Saturday, October 6 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Sylvania, see the RP Data suburb page.</a>
For another investment prospect going to auction this weekend, see page 2.
 
<hr class="system-pagebreak">
19/44 Fitzroy Street, St Kilda, VIC, 3182
<img src="/images/stories/2012/09/kingsclere.jpg" width="470">
On the second floor of a Fitzroy Street, St Kilda, block, this one-bedroom apartment is currently vacant but could be expected to secure a rental of $360 to $370 per week, according to listing agent Carl Hexter of Biggin Scott. The apartment includes a separate study and an ornamental fireplace and is within metres of Fitzroy Street trams, cafes, restaurants and bars.
Hexter <a target="_blank" href="https://www.propertyobserver.com.au/https://www.bigginscott.com.au/property/details/6802">is marketing the property</a> with price hopes of $380,000 plus, and if it sells for $380,000 and were rented at $370, it would secure an investor a gross rental yield of 5.1%, above at the median gross rental yield for St Kilda units of 4.3%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The median unit price in St Kilda fell 0.6% in the past year but rose 37.9% in the past five years, according to RP Data.
The property will be open for inspection Saturday, September 22 at 12.45pm and will go to auction Saturday, October 6 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">St Kilda, see the RP Data suburb page.</a>
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Friday form guide: Yields of up to 5.9% in Sylvania

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Last week Property Bloom was offered a few development application and construction certificate approved dual-occupancy sites. They are in a town where dual occupancy sites are extremely hard to find right now. This town’s median price has been growing steadily as a result of investor activity increasing over the past 24 months as people are attracted to the high rents being achieved due to an undersupply of housing.
If there is a two-speed economy, this Hunter town is in the top speed category.
As I spoke to the builder offering me these sites (off market), I was running the figures in my spreadsheet.  The builder had a set price for the land and the building costs.  I jotted down the costs for the three sites, and then went to work comparing them with other dual-occupancy developments we had recently completed in the town.
Usually Property Bloom’s first aim is to achieve a high level of equity from a development for our clients. Then we look at the yield and strive for 7.5% for a dual occupancy, higher on other types of development.  Dual occupancy means building two dwellings on one lot.  We can usually achieve a good amount of equity by sourcing the land and building two villas. The villas can be attached and therefore part of a duplex or they can be freestanding.  A dual-occupancy project may typically take 12-18 months to complete (usually depending on the council processing time).
Looking at the expected equity outcome on these sites we could see it was a little low. But the real advantage in these deals was time and money; the fact that we could start building immediately and the price was fixed.
There would be no contingency required, and the builder is essentially taking up all the risk. Even hitting rock was including in the fixed, turnkey price.  Turnkey means that all landscaping, driveways, letterboxes, clotheslines, etc, is included, so you can turn the key and move in.
The other important factor was that the costs for the development application and construction certificate were included, even subdivision was included.  So all fees and charges had been paid for. I estimated there was at least $15,000 in this.  We could start building immediately.
The icing on the cake was in the terms. This builder was structuring the drawdown schedule for us so that only 10% of the build cost was paid by the time the slabs were laid and 90% on completion.
This is where my clients could save some serious holding costs.
Normally there would be five draw downs during the building works, typically at slab 20%, frames and trusses 20%, brickwork and roof 25%, interior linings/mould out 25% and completion 10%.  With 90% of the cost being paid on completion, clients will save thousands of dollars in holding costs.
If we only looked at how much equity we can create from a development, we would have passed on these opportunities, but when we look at the other valuable advantages of getting into this market quickly, high depreciation benefits, high yields and low risk then these development opportunities are attractive.
A development you can turn over quickly will allow you to move onto the next one.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.</body></html>

jochivers-wq5Bp59R5a

Saving time is saving money in property development

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Westfield will not be following the lead of David Jones, having ruled out building any residential projects above its many Australian retail malls.
Westfield director  Domenic Panaccio says the company is committed to having retail malls and at most having office additions in some, but says there will be no foray into residential redevelopment of their retail portfolio.
Panaccio’s comments come as David Jones chief Paul Zahra said his company was considering commercial and residential developments above its stores.
“That could be a good option for David Jones," Panaccio told Fairfax Media.
"They’re looking for opportunities. It would bring people to the city and could create further growth if the residential demand was there,” Panaccio said.
David Jones have been undertaking valuations and investigating the potential for redevelopment of its stores after posting a 40% slump in profits.
It's been touted that David Jones could add an extra 20 levels above its Market Street store in Sydney as well as options at its two Bourke Street stores in Melbourne and its Elizabeth Street store in Sydney.
Westfield has been busy redeveloping some of its malls with Melbourne’s Fountain Gate re-opening yesterday.
The $340 million redevelopment has turned the mall into Australia's second largest at 174,000 square metres.
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Westfield won't be following David Jones residential redevelopment lead

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The Sando is likely to be redeveloped into apartments after the pub's owner failed to find a buyer or partner to save the iconic live music pub, which went into receivership in July with a debt to Bankwest of $3.6 million.
Expressions of interest closed yesterday for Sydney's Sandringham Hotel, immortalised by The Whitlams in the songs God Drinks at the Sando and Blow Up the Pokies.
Even support from the great and good in the music industry<a target="_blank" href="https://www.propertyobserver.com.au/leisure/the-sando-owner-says-iconic-recently-renovated-sydney-pub-receivership-due-bankwest-the-council-and-the-suits/2012071255560"> failed to save The Sando</a> despite a <a target="_blank" href="https://saveoursando.com/" rel="nofollow">free concert in Martin Place</a> earlier this week to draw attention to the pub's plight fronted by Mark Evans, formerly of AC/DC, Mark Gable of The Choirboys and Doc Neeson of The Angels.
Tony Townsend, owner of The Sando, told SmartCompany a number of rallies had been held to draw attention to the pub's plight but expressions of interest had closed and he is not aware of any offers.
"We were not able to uncover the white knight, unfortunately," says Townsend.
"We have tried a number of times to bring the bank to the table and we have actually made a few offers to the bank and at this point of time they are going to take it to due process."
Townsend claims The Sando was highly leveraged at around 65% when Bankwest (which was taken over by the Commonwealth Bank) called in its facility and gave him seven days to pay $3.2 million.
"I was very upset by some of the things that were said by Commonwealth Bank and the receivers as they were misleading to say the least; things like we never paid or defaulted on paying our interest, that was just not true," he says.
"Until the bank sent its letter of demand on we paid every single interest payment, the only default we had was a loan value ratio default which is a minor default."
Townsend says he ran a "very tight business" but it was very marginal and once the receivers, Ferrier Hodgson, were called in it was very difficult to save the business.
"We've worked through a number of solutions since that letter of demand but it's very difficult when you have a scenario of interest jumping from $16,000 to $48,000 per month plus other costs, such as the receiver's costs and legal costs," he says.
"It's just a recipe for disaster, especially when you put your hand out to the bank and said we are in trouble, we need you to give us a hand, that's the sort of hand we got given."
 
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Townsend says he is planning legal action and is also making a submission to the <a href="https://www.smartcompany.com.au/financial-services-and-insurance/051162-no-conspiracy-commonwealth-bank-denies-allegations-it-liquidated-bankwest-customers-at-senate-inquiry">Senate Inquiry into the banking sector</a>, which is investigating claims as to whether the Commonwealth Bank sought to liquidate Bankwest customers to reduce the price paid for Bankwest.
"It will go to court and we will be seeking damages. It appears that the Financial Ombudsman Service can't do a lot until somebody actually takes the business away from you. The court can't stop the process until you lose it."
Townsend says while he initially hoped to find a partner to enter into a joint venture to keep The Sando as a live music venue, it was difficult because live music venues only return around 6% while pubs which have gaming return about 14%.
"We tried to raise awareness of what a hotel like The Sando is in a community like Newtown and what it means to a community like the music community and, unfortunately, we were not able to uncover anyone who had an empathy for that use," he says.
Townsend expects The Sando will be sold cheaply to developers and will no longer operate as a live music venue. He says the property is zoned for accommodation and can be built to four storeys.
"Someone will make $5 million or $6 million out of it," he says.
"They won't pay full value for it, they'll pay fire sale value for it and it will just be another live venue gone."
Michael Cave, spokesperson for Ferrier Hodgson, told SmartCompany it was still "early days" in the process and the receivers are still dealing with the "numerous" expressions of interest that came in.
He says the Sandringham Hotel business had been in financial difficulty since mid-2009, and Townsend has been issued with numerous breach and default notices, with his account in arrears throughout 2011 and the first half of 2012.
"The bank took the decision to appoint receivers only after considering all available options and going to extraordinary lengths in an attempt to help the customer resolve his financial issues," Cave said in a statement.
The Commonwealth Bank directed SmartCompany to a statement it issued last month entitled "<a target="_blank" href="https://www.commbank.com.au/about-us/news/on-the-record/2012/270812-sandringham-hotel.aspx" rel="nofollow">Facts about The Sandringham Hotel</a>", which said Townsend was in default throughout 2009 and 2010, including non-payment of interest on the debt and also non-payment of land tax to the NSW Office of State Revenue.
"As the customer did not take the necessary steps to resolve his financial issues and following an extensive period of time working with the customer, the Bank appointed receivers in July, 2012," the statement said.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Sydney pub the Sando likely to be developed as white knight deadline passes

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BWP Trust has added the Gladstone Home Centre to its bulky goods property portfolio, paying $27 million for the 21,791-square-metre retail centre just outside the business centre of Queensland mining hotspot, Gladstone.
The centre is anchor tenanted by Bunnings and Harvey Norman. It was previously called the Centro Gladstone Home and formed part of Centro’s MCS 37 property trust.
BWP Trust primarily invests in Bunnings bulky goods stores.
The Gladstone acquisition increases the number of Bunnings Warehouses owned by the trust to 67 and brings the total number of properties in the portfolio to 73.
The purchase price of $27 million (plus acquisition costs of approximately $1.6 million) reflects an initial yield of 8.84%.
The property is fully leased with a passing net annual rental income of approximately $2.38 million and has a weighted average lease expiry (by income) of approximately 4.4 years.
Bulky good stores remain a sought after retail asset, with BIS Shrapnel noting in its September 2012 Building Industry Prospects report that bulky goods centres and neighbourhood shopping centre buildings have outperformed the retail sector “and this is anticipated to continue in the near future".
The Gladstone home centre sale comes as the Australian Financial Review reports that ASX-listed property trust Charter Hall Group is in negotiations to acquire a $230 million portfolio of Bunnings Warehouse properties across Australia from Wesfarmers.
Competition in the bulky goods DIY sector has heated up with Woolworths looking to expand its DIY Masters chain.
Burgess Rawson’s Darren Beehag and Dean Venturato are currently seeking buyers for an 8,300-square-metre Bunnings warehouse in Bathurst with an asking price of $8 million – reflecting a yield of around 8.7%. The centre has a net income of $693,000.
Bunnings plans to open 18 warehouses in 2013 with plans to open between 10 and 14 annually in subsequent years. In total there are more than 80 warehouses in the pipeline.
The Gladstone home centre stands at 20 Dawson Highway in Clinton, about eight kilometres south west of Gladstone’s CBD.
The statement accompanying the acquisition of the bulky goods centre notes that Gladstone’s economy "is supported by a variety of refining, chemical and mining industries and it has one of the world's top five coal export ports, handling in excess of 50 million tonnes of coal per annum".
"The estimated current trade area population is approximately 70,000 residents, including over 55,000 residents in the primary catchment." 
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BWP Trust adds to bulky goods property portfolio with $27 million Gladstone home centre acquisition

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If you’ve ever wondered which Australians spend the most amount of money online, now’s your chance to find out.
New data provided by analytics firm Quantium reveals the suburbs in Sydney and Melbourne that spend the most on online retail sales – and which suburbs are experiencing the most growth.
The figures come as part of the research poured into NAB’s online retail sales index, which is one of several projects Quantium prepares for a range of clients.
The data is based on the account information and the address of each account holder, not where products are purchased or where they are delivered.
The transaction data reveals some interesting trends. While most of the activity occurs in the central business districts of both Melbourne and Sydney, there are several suburbs where activity is greater than others.
Several businesses use these types of analytics to inform their marketing campaigns – specifically SEO and AdWords. While this data alone shouldn’t be used by businesses as marketing tools, it represents how important location-based marketing can be when it comes to selling online.
<h1>Melbourne</h1>
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<h1>Sydney</h1>
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This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany.</a>
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The Melbourne and Sydney suburbs that spend the most on online retail

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Melbourne’s housing market is beginning to show signs of recovery, with prices increasing by 2.5% in the 3 months to August, according to a report released by RP Data.
While Victorian property prices are still relatively flat compared with the same time lastyear, there is room for continued growth and encourages buyers to take advantageof the favourable buying conditions this spring.
It's a buyers' market.
We are expecting to see the volume of homes on the market lift to around $70 million in value per week over October and November.
Buyers are already showing more interest as they see an increase in properties available to them.
This increase in listings is a good indication of buyer confidence and will result in less competition and more choice for buyers, creating 2nd and 3rd options in their property hunt.
This coupled with the softer house prices we are currently experiencing creates great buying conditions.
It’s the time in the market, not timing the market that counts. Buying now in the right areas will see you prosper in the future from your decision to act.
Inner and mid belt family homes to perform well. Investors and homebuyers should be looking for homes located within the inner tomid belt of the city.
Astute investors should be looking in established areas like Kew East, Collingwood,Carlton, Fitzroy, Coburg North, Hawthorn East, Glen Iris, Oakleigh and Macleod.
This type of housing stock is well insulated from the current oversupply of newapartment developments in inner as well as the further expected correction in the$2m+ housing stock.
These inner and mid belt areas can prove to be an excellent return on investmentfor both investors and owner-occupiers. Those purchasing to build their investment portfolio should expect to see consistent rental returns and low vacancy periods,whereas owner-occupiers can have confidence that their home will experience strong capital growth.
Here are our seven top picks:
Albert Park features some of Melbourne’s most prestigious, heritage listed property. St Vincent Gardens is surrounded by multi-million dollar houses and whilst the top end of the market has softened recently apartments in the area have experienced double digit growth at  13.5% (source: APM). Albert Park attracts aspiring young professionals aged 25-39 (source: ABS) who can’t afford to purchase houses here but want to live in the area. Therefore demand is quite strong and consistent and vacancy rates are low at 2.4% (SQM) Kew East is an excellent area for a family or conservative investor to buy an attached or detached house in. Kew East is slightly more affordable than Kew, is 9km from the CBD, within a few kilometres to excellent schools, universities, shops and a multitude of transport options. Due to the suburb’s inhabitants being mainly 35-49 year’s old the suburb is rather resilient to mortgage stress and market corrections. The year of 2011 saw Kew East grow by 8% (source: Residex) where most of Melbourne saw negative growth. Current clearance rates are also trending above average at 63%; showing that the market here is healthy. Carlton is an excellent area for investors. Units here are still good value for money, which has seen this sector experience 15.9% Capital Growth over the last 12 months (source: APM). The population mainly consists of 20-29 year olds (source: ABS), who are attracted by the university district, proximity to the CBD (2km) and lifestyle attractions such as Lygon Street’s cafés and restaurants. Due to these fundamentals, vacancy rates are below Greater Melbourne’s average currently sitting at 1.1% (source: SQM Research). Carlton in recent months has also seen an increase in online interest (source: realestate.com.au) and when coupled with a 77% clearance rate this could suggest that the area’s growth spurt is not over. Collingwood is only 3km from the CBD and units here sell for around $500,000. The suburb has plenty of life with most people being 25-39 and as such has an excellent rental market. Vacancy rates here are 0.3% and units attract reasonable yields. The area has seen good capital performance for units over the last year at 4.1% (APM). Online activity for the suburb has sharply increased over the last three months and this is starting to be reflected in the clearance rates which are now above Melbourne’s trend line. Fitzroy has seen a retracement over the last 12 months which has created some good buying opportunities in the low to mid $500K range. This suburb is ideal for savvy investors who are able to understand what properties have enough character to attract the trendy 30-39 year old tenant market. Right now we’re seeing the right properties in good streets fetch excellent results and now that the suburb has become more affordable the clearance rate has shot up to 77% which is one of Melbourne’s highest results. Coburg North is an area a statistical/technical investor would look to. Fundamentally there isn’t any main driver promoting growth but with this said the suburb has shown remarkable resilience to the down turn with units growing 3.5% over the last 12 months and the long term trend being 15.2% over 10 years. There are some great buying opportunities for villa units and town houses in this area as they’re still somewhat undervalued. Oakleigh apartments have shown amazing growth over the last 12 months. This segment has seen 16.5% growth for properties that are within the $400K-500K band. Clearance rates are high at 76.6% making Oakleigh a mini hot spot. Surrounding suburbs are also performing well but it is critical in these locations that you purchase apartments that tick all of the boxes as substandard properties are less likely to deliver quality returns.
Infolio Property Advisors will be running a free seminar featuring an expert panel that all Property Observer readers are invited to attend. “Buy Property Like A Professional” will be held on October 2, at The Point Albert Park, Melbourne. Head to <a href="https://www.infolio.com.au">www.infolio.com.au</a> for more information. 
Cameron Deal is the founder Infolio Property Advisors.
 
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Seven Melbourne hotspot suburbs for spring property investors

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The decision by mining companies to use a fly-in-fly-out (FIFO) workforce rather than base them in mining towns will prevent an oversupply of houses and infrastructure when the boom ends, according to new research presented by the RBA.
The report notes 2011 census data, which suggests that mining-focused areas such as the Pilbara in Western Australia and the Bowen Basin in Queensland have a much higher proportion of FIFO workers, and a much smaller share of permanent residents, than other  townships (and capital cities) in Australia.
“The data suggest a little more than 30% of all people in these ‘mining areas’ on census night were FIFO workers, compared with about 15% in 2006, and 4% to 5% in other towns,” notes the report Implications for the Australian Economy of Strong Growth in Asia co-written by RBA assistant governor Christopher Kent,  Michael Plumb deputy head of economic research at the RBA,  and James Bishop, an RBA economist.
“Once the mining investment phase comes to an end, the utilisation of FIFO labour is likely to fall as labour demand in these areas declines.
“To the extent that much of the extra demand for labour in remote locations is temporary, an advantage of FIFO arrangements is that they can help limit the extent of housing and infrastructure required to service the workforce, and therefore reduce the extent of unused capacity when the boom ultimately passes," says the report.
However, the use of FIFO workers has angered many in mining towns, who claim they receive little financial benefit from the nearby mining projects as a result and are demanding mining companies base more of their workforces in their towns.
The issue is currently being examined in a parliamentary inquiry, which has to date received 226 submissions. The inquiry was launched in August last year and is chaired by independent MP Tony Windsor.
Among the submissions, the Mount Isa City Council in north-west Queensland presented a list of ways to limit fly-in, fly-out (FIFO) mining work.
It recommends the government appoint an officer to determine what proportion of workers should live locally when granting mining approvals.
"An officer should be empowered to make recommendations when they are considering issuing a mining lease," Mount Isa mayor Tony McGrady told the ABC.
“The job of this officer would be to recommend as one of the conditions of the mining lease whether or not fly-in, fly-out operations should be allowed."
McGrady says regional towns across Queensland are emptying out because of the growing trend for miners to travel to work while their families live on the coast.
McGrady also wants the government to implement tax breaks to encourage workers to live in mining towns.
The findings of the research paper Implications for the Australian Economy of Strong Growth in Asia was presented by the RBA assistant governor Christopher Kent at conference in Canberra yesterday.
The conference was jointly hosted by the International Monetary Fund (IMF), Treasury and the RBA.
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