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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<img src="/images/stories/2012/09/910k.gif">
The price paid for the premises of the Hungry Jacks take-away in Wangaratta. The 1,815-square-metre corner island site at 20 Ryley Street, Wangaratta, is leased to Hungry Jacks to December 20207 at a current annual rent of $53,445 with annual rental increases of 3.5%. Wangaratta is 230 kilometres north-east of Melbourne, with a population catchment of about 17,000 people. The sale price reflects a yield of around 5.9%. The property was marketed by Jamie Perlinger of Burgess Rawson Melbourne.  
 
<hr>
 
<img src="/images/stories/2012/09/1point85m.gif">
The price paid for a modern car wash at Mitcham in east-suburban Melbourne. The facility, at 458-460 Whitehorse Road, Mitcham, was marketed and sold by Brett Diston of Ray White Commercial Manningham. Diston says an owner investor had sold the freehold land with business to a local party looking for an owner-occupier business. The property is a modern, fully equipped facility on a site of around 959 square metres. Diston says he fielded in excess of 40 enquiries on the property. The property is located about half an hour from the Melbourne CBD along the Eastern Freeway.
 
<hr>
 
<img src="/images/stories/2012/09/4point65m.gif">
The price paid at auction for a warehouse/office complex at Nundah on Brisbane’s northside, which is leased to a long-term national tenant. The sale prices equates to a yield of 8.6%. More than 50 people attended the in-room auction at the Riverside Centre in Brisbane, with the 6,745-square-metre site at Lot 4/629 Nudgee Road, Nundah, offered for sale by Ray White Industrial Milton principal Paul Anderson. There were eight registered bidders for the complex, which was recently leased by global hearing solutions company Bernafon Australia Pty Ltd, with bidding starting at $3 million. “We had a total of 50 bids before the property was sold under the hammer to a Brisbane family syndicate,” says Anderson. The warehouse complex is a modern tilt panel building of 2,200 square metres and includes two levels of air-conditioned office space over 700 square metres. It is leased by Bernafon on an eight-year lease with renewal options at a net rental industry sources estimate to be around $400,000 per annum.
<hr>
<img src="/images/stories/2012/09/20point85m.gif">
 How much ASX-listed REIT Charter Hall’s Direct Industrial Fund 1 has paid to acquire the sixth asset, the Coates Hire Distribution Centre at 29-47 Mudgee Street, Kingston, in Queensland. The acquisition reflects an initial yield of 7.9%. The price includes current construction works to expand the facility. The Coates Hire Distribution Centre is located in the established industrial locality of Kingston, 24 kilometres south-east of Brisbane’s CBD, with direct access to Brisbane’s major arterial linkages, including the Logan Motorway. The facility, located on a 96,840-square-metre site, is fully leased to Coates Hire Operations. The facility is secured by a new 20-year lease, which will commence on completion of the construction works in early 2013. 
<hr>
<img src="/images/stories/2012/09/1point35m.gif">
How much residential property developers have paid for a former car yard site in the Nowra CBD. The property at 130 Kinghorne Street, Nowra, previously home to Nowra Mazda, was sold to Regional Nominees Pty Ltd by Ray White Commercial Shoalhaven principal Scott Baxter. Baxter says the purchasers had lodged a development application with Shoalhaven City Council to build an apartment complex of 41 serviced apartments on the site. The city of Nowra is around 170 kilometres south of Sydney and is the commercial and administrative centre of the Shoalhaven region on the south coast of New South Wales.
 
<hr>
<img src="/images/stories/2012/09/2point26m.gif">
The price paid by a private for an office and warehouse facility at Braeside in Melbourne’s south-eastern bayside industrial precinct. The 31-33 Lakewood Boulevard property was sold on a yield of 8.6% with a long-term lease to 2017 in place to Australian olive oil producer and distributor Redisland Australia Ltd at a net rental of around $224,850 per annum. Savills director Lynton Williams, who negotiated the deal, says the property, which comprised a modern, 2,930-square-metre building, constructed in 2007, had attracted a lot of attention from investors. The vendor was a Melbourne-based developer.
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Commercial hammer prices: Wangaratta Hungry Jacks sells on 5.9% yield

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Mozo says it has received an overwhelming response to its big four bank mortgage discount “mystery” but still won’t reveal what the lender is behind the offer.
The mortgage comparison website is offering a discount of up to 1% off the advertised variable rate of a big four bank. It issued a September 6  press release regarding the offer.
Property Observer and other industry participants signed up to be part of the offer last week but have not received phone calls from Mozo to discuss the details.
The Mozo promotion promised a phone call within 24 hours of registering to “reveal the big four bank behind the deal and answer all your questions”.
<img src="/images/stories/2012/09/mozo1.jpg">
A spokesperson for Mozo told Property Observer the reason for not being contacted “is more likely due to the fact that we have been screening out calls from the industry so that we can focus on helping real customers”.
People in the property industry appear to be able to get Mozo's subsequent wine offer email, but don’t qualify for home loan discounts.
“The popularity of the new service has exceeded our expectations,” added the Mozo spokesperson.
“We've already handled refinancing and new loan enquiries for over $80 million worth of borrowings. Half of this has already progressed through the approval process”
The spokesperson did confirm to Property Observer that the offer was from a “big bank”.
“As this is a 'mystery bank' deal I can't divulge who the lender behind the deal is.”
<a href="/news">Property Observer has previously pointed out</a> that all the major banks offer generous variable rate mortgage discounts of up to 0.9 percentage points for borrowers who take up one of their package home loan offerings.
Mozo claims the campaign can save borrowers more than $100,000, with the savings calculated on the current Mozo mystery bank variable rate of 5.93% for a $500,000 loan, versus the current average big four bank standard variable rate of 6.82% and assumes a loan term of 25 years.
Have you received an offer from Mozo? Sent us an <a target="_blank" href="mailto:news@propertyobserver.com.au">email with your thoughts.</a>
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Mozo ‘mystery’ big four home loan discount deal remains a mystery for some

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So, does Australia have too few, too many, or is the situation just about right?
I am talking about new dwellings.
I have been arguing for some time that one of the biggest real estate myths in this country is that the new housing market is undersupplied; and often this situation is described with words such as “massive”, “chronic” or “enormous”.
But is it true?  As followers of the Matusik Missive know, I have tried to prove that it is false and with, for mine, with quite a degree of finesse.  Yeah, like a bull in a china shop.
Anyway, each year I like to go back and check the numbers.  And last week’s annual check-up has found that Australia continues to build more dwellings than we need.  A few years back – in 2008-09 – not enough new homes were being built, but in recent years, and despite the constant calls from the building industry for stimulus to help create even more new dwellings, we have been building too many. 
In the 2009 financial year, Australia needed to build 167,000 new dwellings, yet only 131,000 or thereabouts were commenced.  However, in 2010 (all years in this post are financial ones), the supply-demand balance reversed, with just 121,000 new homes needed, yet 167,000 actually commenced construction.  During 2011 the industry continued to build far more homes than what was actually needed, to the tune of about 47,650 too many.
The good news is that the rate of overbuilding has slowed down over the last 12 months, with 137,000 new dwellings needed during 2011-12 and with 139,000 actually supplied.
However, dwelling supply (we are talking about actual commencements here and not approvals) is cumulative and since the GFC, Australia has built about 60,000 more new dwellings than it really needed.
Nationwide, we are currently oversupplied with new digs to the tune of about five months, based on current underlying demand.  In short, we could, as a nation, stop building for several months and still have enough new homes to fulfil our needs.
But of course, there are always swings and roundabouts.
Several states and territories are undersupplied, some are chronically oversupplied – I just had to get that in – while others have way too much stock.
Major oversupplies now exist in Victoria; South Australia, Tasmania and the ACT.
Since 2009, Victoria has created 69,000 (yes 69,000 – that’s five digits with a six at the front!) too many new dwellings.  This represents about a two-year oversupply based on the current annual underlying demand for 34,000 new dwellings across the state.
South Australia has built 18,000 too many new homes, but with a need to just build about 6,000 new dwellings per year, South Australia really shouldn’t need to build a new home for years, well close to three, in fact.
There are 6,000 too many dwellings built or being built in Canberra.  This equates to 30 months of supply.  And poor Tassie has also overbuilt, and also in the high 4,000 range.  But Tasmania’s situation is further exacerbated by its declining population growth.  Based on a continuation of last year’s paltry population increase of 1,000 people, Tassie’s 4,800 overbuild represents close to nine years of demand.  Now might be a good time to steal a new property on the Apple Isle.
The Northern Territory is now also oversupplied, with 350 too many dwellings created in recent years.  The demand for new homes in the territory is limited (at about 800 per annum), so this paltry 350 over-hang represents six month’s demand.
In stark contrast, New South Wales hasn’t been building enough new stock – no surprise there – but the undersupply is to the tune of 13,000 or about five months of current demand.
Western Australia is also undersupplied by about 23,000 dwellings at present, which equates to about an nine month demand.
Finally, Queensland has a new dwelling short-fall of 2,800 or two weeks of undersupply.
Last year’s statistics, however, suggest that Queensland is now heading towards a massive undersupply, with 33,000 new dwellings needed during 2012, yet just 26,000 supplied – an undersupply in the tune of about 20%.
Let’s hope the Newman government’s recent $15,000 first-home buyers' grant for new construction kicks some arse.  But for mine, it will not deliver the spanking it was intended to.
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a target="_blank" href="https://www.matusikmissive.com.au/" title="blocked::https://www.matusikmissive.wordpress.com /">Michael's blog</a>or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

Australia has an oversupply of 60,000 dwellings

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With property acquisition and disposal costs being what they are, investing in property needs to be undertaken with a mid- to long-term focus. So, with large-scale urbanisation unfolding across many Asian countries, it is essential for a property analyst to look at how the resultant structural changes to world economies might impact Australian property markets over the mid- to long term too.
The rise and rise of Asia has kept me keenly interested over the past few years. Asia’s urbanisation and rising middle class are generating demand for natural resources and presenting economic opportunities on a scale not seen since the Industrial Revolution.
Where Australia sits as these globally significant megatrends play out is the subject of the federal government’s white paper Australia in the Asian Century, due out within weeks.
We expect the white paper will outline opportunities and possible roles for Australia in what is known as the ‘Asian Century’ — the current 100-year period in which great economic, political and strategic change in Asia (encompassing China, India, the key ASEAN countries, Japan and the Republic of Korea) is underway. (Although given we’re a good 12 years in and we haven’t yet seen, let alone begun planning and implementing, the contents of this white paper, it’s fortunate for the federal government that it is a century of opportunity or we’d be missing the boat entirely.)
You need to be a visionary to invest successfully, so documents such as this white paper interest me. Government policy changes and business decisions will have an impact on industry sectors, employment opportunities, and demand for that essential commodity we property investors love: accommodation.
This white paper will outline opportunities resulting from stronger ties with the Red Dragon (China) and other emerging countries, such as India, South Korea and Vietnam. So you could say, the opportunity is in the "red" and the detail is in the "white". Bring it on!
Asia is on a mission to replace the simple lifestyles of its villages with the creature comforts of modern cities, which the Western world has taken for granted for generations. As this evolves, dozens of new cities the size of our own capitals will be built and Asia’s middle class is forecast to grow from 0.5 billion (in 2009) to 1.5 billion by 2020. To put this in to perspective, Australia’s total population is 0.02 billion.
The opportunities for Australia should already be obvious. Australia has what Asia wants: energy resources, commodities for construction and manufacturing, agricultural products, education facilities, and quality tourism locations. But it’s not just one-way traffic.
Asia has something Australia is short on: capital. With federal and state budgets increasingly under pressure and funding difficult to secure generally, there is scope for Australian-based private investors to partner with Asian companies to secure the funds they need to get major infrastructure projects off the ground, thus creating enormous economic and employment opportunities and improving facilities, which would otherwise have taken decades.
To this end, Australia must relax its foreign investment policy to encourage joint ventures. Because 50% of something is much more than 100% of nothing!
If all levels of Australia’s governments are smart, they will use this once-in-a-lifetime opportunity to score two wins: decentralise our population away from the capital cities where there’s an unsustainably high concentration of people, and add economic diversity to specific regional communities. With some lateral thinking and an eye for the future, governments could create unprecedented opportunities out of the Asian Century.


<hr class="system-pagebreak">
Here’s the chance to take the focus away from capital cities and to work with the strengths of many regional locations. Just a few examples:
<ul>
<li>Asia’s rising middle class is seeking quality education facilities. Strong regional locations such as Orange (Charles Sturt University and specialist medical facilities) and Townsville (James Cook University and the CSIRO facility) have potential to become a future breeding ground for Asian professionals. The same could be said for Perth’s expanding Murdoch medical precinct. Adelaide might also consider jumping on board and investing in facilities to support Asia’s future demand for higher education.</li>
<li>Vast areas of dust bowl land from the Pilbara to Cape York could be irrigated to produce thriving agricultural crops to serve as Asia’s future "food bowl". In return, Asian capital could help fund strategically-positioned communities that could provide goods and services to support thousands of new jobs in these precincts.</li>
<li>Cairns and the Gold Coast, with their unhealthy reliance on tourism, could both benefit from adding an alternative string to their economic bow. </li>
<li>Geraldton would do well to explore investment in hotel accommodation and to promote its pristine beaches and Abrolhos coral islands to tap into the Asian tourism market. And a Chinese partnership could secure the venture capital necessary to fund the proposed Oakajee Port and rail infrastructure, enabling several inland iron ore mines to deliver their product to the Asian market and creating tens of thousands of jobs.</li>
<li>The natural beauties of Darwin and Broome could be boosted by investment in better facilities, which would also make these areas strong attractions to the Asian tourism market.</li>
</ul>
But if Australia is going to prosper from the urbanisation of the world’s largest population and fastest-growing economy, a bit of elbow grease will be needed. We’ll have to strive to understand Asian culture and how these countries do business, and overcome any language barriers. We’ll need to overhaul our school curriculum, our foreign investment policy, and our immigration policy for (specific) skilled labour and Asian students.
Dare we hope the long-awaited white paper will cement the path ahead with its recommendations? I’ve read dozens of government planning documents over the years and I expect the Australia in the Asian Century White Paper to be much the same as the rest. It’ll use the words "plan" and "projected" a lot. There’ll be plenty of media hype, delegated responsibility, and money spent on feasibilities.
Property spruikers will see it and other related reports as an extra sales tool. Selectively chosen comments will be lifted from the White Paper and recited as if the outcome is guaranteed.
Oh, and one last thing. The author of this long-awaited white paper is former Treasury Secretary Dr Ken Henry. Yes, the same man who the same government commissioned to prepare a different report that was designed to give Australia’s inefficient tax system a complete overhaul.
The same report that has mostly blank spaces in the ‘implemented’ column alongside its 138 recommendations. Perhaps that’s why they call it a ‘white paper’?
Let’s hope for a very different outcome with this next one.
Simon Pressley is a buyers' agent for Queensland-based <a href="https://www.propertyology.com.au">Propertyology</a>.
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spressley-sBoeMhannA

The Asian Century provides unprecedented opportunities for regional Australian property

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David Jones has advised it is not considering a sale of its flagship Sydney and Melbourne CBD properties, but rather their redevelopment, as profit slumps amid the internet-driven worsening traditional retail environment.
Net profits in the year to July dropped 39.9% to $101.1 million, down from $168.1 million, the second largest department store company advised today in line with earlier guidance.
While the department store has ruled out selling its four landmark CBD properties, its is still reviewing opportunities to unlock the value of its property portfolio, which it anticipates could be worth almost twice its $460 million book value.
After early reportage, by including Property Observer, its chief executive Paul Zahra said the company wasn't considering the sale of its four flagship properties in the Sydney and Melbourne CBDs, estimated to be worth $612 million, but rather merely having the properties potential investigated and "appropriately valued because there was such a wide range in the market about what the properties were worth."

"We didn't do the work to sell the properties, that wasn't our intention," he announced after the headlines interpreted the initial announcement.
"We have no plans to sell the properties.

"What we wanted to do was actually get the properties appropriately valued because there was such a wide range in the market about what the properties were worth."

The company, in an effort to reassure investors of the company's value after profit plunged over the past year, will update the market on its plans in six months. While ruling itself out as a property developer, David Jones could look at forming a partnership with a developer.
The latest property sale speculation came after David Jones announced consultants Cushman &amp; Wakefield had been appointed to ‘‘investigate opportunities to unlock and enhance the value of its property portfolio.’’
David Jones’s flagship stores on Elizabeth Street and Market Street in Sydney and on Bourke Street in Melbourne have 85,000 square metres of floor space between them and could rent for $39 million a year, the company said.
"Detailed analysis on the development opportunities of each site, including planning limitations, design, structural works and the short term impact on trading is being undertaken by the company with a view to updating the market in six months time,'' David Jones said.
The properties are the only ones David Jones owns.
Cushman &amp; Wakefield will advise David Jones "with an indication of the potential sale price of these assets assuming a lease to David Jones, or equivalent tenant, on the basis of their existing use".
But Zahra played down the suggestion it would sell and vacate the properties because of a capital gains tax issues.
He outlined a broader shift in strategy as David Jones will open six new leased store locations, <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-to-open-smaller-village-store-in-malvern-central/2012083056333">including one in 2013 in Highpoint in Melbourne's west and another store in Indooroopilly, Queensland, in 2014.</a>
The company will also open more "village format" stores that focus on fashion and beauty, which are planned to target areas with "good demographics which do not have a major shopping centre".
Last month, David Jones announced a village format store in the Malvern suburb of Melbourne.
Bloomberg reported David Jones sold its stores once, only to reacquire them in September 2006 for $362 million, to regain control of redevelopment potential and avoid rising rental payments.
The $612 million value put on the stores on Elizabeth Street and Market Street in Sydney and Bourke Street in Melbourne is about half of David Jones’s current total stock market valuation of $1.2 billion.
Australia’s largest department store company, Myer, has no significant property assets.
Last month <a target="_blank" href="https://www.propertyobserver.com.au/retail/david-jones-flagship-stores-have-%24666-million-potential/2012081455977">stockbroking analysts </a> looked at the issue of  the partial sale and lease back of David Jones’ flagship stores after takeover speculation.
David Jones has been mooted as a potential leveraged buyout candidate, with much of the value around its property portfolio, UBS noted.
UBS suggested the three flagship stores had a $462.5 million book value, but UBS says they could secure $666 million on-market.
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jchancellor-FAypfDUnLy

Clicks make DJs think of evaluating its heritage bricks and mortar 

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An apologetically "downbeat” John Edwards has slammed what he calls an “avalanche” of “foolish government actions” which he says could potentially cause undesirable outcomes for fragile property markets.
His attack on government policies accompanied the release of Residex August property market results, where house prices fell 0.8%, <a target="_blank" href="https://www.propertyobserver.com.au/residential/perth-house-prices-rise-219-in-august-while-melbourne-prices-flat-ilne-residex/2012091856633">with Perth the best-performing capital city with a gain of 2.19% with Sydney and Melbourne house prices flat</a>.
“The simple truth is, in an environment where sentiment is fragile negative news accumulates and contributes to low consumer sentiment," writes Edwards.
“This is perhaps partially responsible for the market downturn in the dwelling price growth in August, after the growth that appeared to be getting underway in July. I also note that the press was reporting a slowing in the Chinese economy in August."
In his blog, he laments the recent actions of federal and state governments and the RBA, which he says could be the “wrong choices”.
“Although housing markets have shown signs of improvement recently, these are progressing at a snail’s pace and remain fragile.
“Decisions made by governments and the Reserve Bank could arguably be the ‘wrong’ choices as far as Australian housing markets are concerned and could potentially cause undesirable outcomes,” says Edwards.
Edwards says he wonders if state governments and the federal government “have lost sight of the reason for governing”.
“It seems that it has become more about scoring points and staying in power rather than working together for the best interest of the population.
“The time for governments to work together to restore consumer confidence in our nation has become critical. We are currently experiencing what I can describe as nothing other than an avalanche of what are, in my opinion, foolish government actions.” Edwards claims the federal government’s carbon tax and resource tax being have been introduced to “ensure a political benefit from a budget surplus”. He also says state governments have retaliated against an uneven distribution of the GST take by doing what they can to gather cash to keep their budgets at acceptable levels by increasing mining royalties and instigating “significant job shedding at a state level”.
“I am left wondering what has to happen to have all governments work as a team for the collective good of Australia.
“The reality is that Australia is headed for trouble if the resources economy stalls badly and unemployment increases. Australia needs to move to remove the Carbon Tax and the Resource Tax and implement a GST to compensate, and maintain a climate where Australian corporations are internationally competitive in the global market, which is contracting due to the difficulties in the US and Europe,” he says.
Looking at the property market more closely, Edwards notes that with current interest rate setting being attractive, “the market should be moving forward more strongly than what we are seeing”.
With auction clearance rates “stubbornly holding within the 50% to 60% range", Edwards says it is difficult to believe that the market is as robust as the press is suggesting.
“According to Residex calculations, capital growth, which is currently more volatile than normal, is again trending down, lending credence to the view that consumers are concerned and uncertain of the future.
“I believe the slow pace to better times is a result of uncertainty and that any significant improvement won’t be seen until there is uplift in sentiment.”
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Avalanche of foolish federal and state government decisions hurting fragile property markets: John Edwards

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A refurbished two-storey retail strip property in Sydney’s Hurstville leased to NAB sold for $9.01 million at auction yesterday.
The sale highlights that retail property leased to bank branches with long-term leases have strong investment value, with the sale price equating to a yield of 5.85%.
Earlier this month a historic Parramatta bank, tenanted by Westpac, <a href="https://www.propertyobserver.com.au/commercial/historic-parramatta-bank-sells-for-%2471-million/2012090956450">sold for $7.1 million to a Hong Kong-based investor.</a>
The Hurstville property received over 90 bids, with bidding starting at $7 million, reported the Australian Financial Review.
Colliers International agent Matthew Meynell, who marketed the retail property alongside Steam Leung, called it a “very strong result” and said it indicated that buyers were chasing properties with “risk-averse qualities".
Both the ground floor and the first floor of the building, which stands on Hurstville’s Forest Road retail strip are leased to NAB on long leases.
The ground floor has a 10-year lease to 2020 with renewal options while the first floor is leased to 2015, also with renewal options.
The bank branch, which stands on a 418-square-metre site at 252 Forest Road is located within the central CBD of Hurstville surrounded by single- and two-level commercial/retail buildings.
It stands next to a St George bank branch and one further shop down from the Westfield Hurstville with bus services located at the front of the property and Hurstville Railway Station directly opposite. 
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NAB bank premises in Hurstville sells for $9.01 million

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Property bubble speculator, Professor Steve Keen will push up subscription prices on his Debunking Economics website from tomorrow, having signed up around 130 subscribers since launching almost a month ago.
The Debunking Economics website, which aims to monetise Keen’s economic thoughts and analysis, had an <a href="https://debunkingeconomics.com/">introductory offer of $25 a month </a> or $250 for year when it launched on August 21.
From September 20 subscriptions will rise to $40 a month or $400 for a 12 month membership.
Keen tells Property Observer the site is growing at about 20 subscribers a day after a slow start.
“Most are US subscribers, with Aussies second, and the vast majority are opting for a year’s subscription - which was unexpected,” he says.
He will look to attract more US subscribers as he takes part in conferences in Chicago and Missouri over the next 10 days.
Keen, the associate professor of Economics and Finance at the University of Western Sydney, will address the The American Monetary Institute conference in Chicago, which runs from September 20-23 and The Post Keynesian conference at the University of Missouri , which runs from September 27-29.
Keen launched the website to monetise some of his economic thoughts, models and unconventional views after six years of running his free Debtwatch blog (<a href="https://www.debtdeflation.com/blogs/">www.debtdeflation.com/blogs/</a>), using his own money with some funding support. Keen continues to run Debtwatch, but with fewer posts.
In his engaging, chatty style Keen quips in one of the lectures posted on Debunking Economics that economics has gone so badly wrong in a “remarkable situation where economic theory is completely devoid of a connection with reality…even after five years of economic crisis has proven this, you still see conventional economists carry on trying to retain their views that failed them before the crisis began".
The website, which is hosted by Las Vegas-based Echo Chamber Media, currently offers subscribers hour-long video on economic behaviour lectures while in the “sandpit” - where Keen develops a new economic ideas - he examines American economist Paul Krugman’s “standard Neoclassical “Loanable Funds” model of lending, and put it into a dynamic model”.
The website also features weekly video interviews on both topical issues, chart packs, fortnightly interactive seminars and blog posts.
Keen remains adamant that house prices will fall by 40% from their peak in June 2010 over the next 10 to 15 years and believes that the days of rising property values are over.
 
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Steve Keen's Debunking Economics website intro subscription price to end and rise to $40 a month

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 Toorak topped the week's sales with the priciest two home sales.
{yoogallery src=[images/stories/2012/09/sept19grant]}
It was a charming house on Grant Avenue that sold after auction for $4.41 million (pictured above) that narrowly beat a fiercely fought auction on Scotsburn Grove (pictured below), which sold for $4.22 million.
 
<img src="/images/stories/2012/09/scotsburn.jpg">
The Georgian-style house on Grant Avenue sold in post-auction negotiations through RT Edgar.
The nine-room house has four bedrooms and two bathrooms set on an 873-square-metre garden block with small kidney-shaped pool.
On Scotsburn Grove it was the fifth bidder into the fray at $4.1 million who eventually secured the offering, reported James Buyer Advocates' report on the Marshall White auction.
""In Balwyn, this type of home would be seen as just liveable," buyers' agent Mal James noted pre-auction.
"In Bayside they'd bulldoze.
"But in Toorak these sorts of homes seem to be kept, and renovated sympathetically."
1. <a href="https://www.myrp.com.au/n/5-grant-avenue-toorak-vic-3142/myrp-490?propertyId=13582497">5 Grant Avenue, Toorak, VIC, 3142</a>, four-bedroom house, sold at auction on September 15 by R T Edgar for $4.41 million
2. <a href="https://www.myrp.com.au/n/9-scotsburn-grove-toorak-vic-3142/myrp-490?propertyId=13588657">9 Scotsburn Grove, Toorak, VIC, 3142</a>, four-bedroom house, sold at auction on September 15 by Marshall White &amp; Co for $4.22 million
3. <a href="https://www.myrp.com.au/n/38-kardinia-road-mosman-nsw-2088/myrp-490?propertyId=4487283">38 Kardinia Road, Mosman, NSW, 2088</a>, three-bedroom house, sold at auction on September 15 by McGrath Estate Agents for $3.47 million
4. <a href="https://www.myrp.com.au/n/10-new-south-head-road-vaucluse-nsw-2030/myrp-490?propertyId=7142982">10 New South Head Road, Vaucluse, NSW, 2030</a>, six-bedroom house, sold prior to auction on September 15 by Belle Property Double Bay for $3.05 million
5. <a href="https://www.myrp.com.au/n/13-the-redoubt-castlecrag-nsw-2068/myrp-490?propertyId=1790602">13 The Redoubt, Castlecrag, NSW, 2068</a>, five-bedroom house, sold at auction on September 12 by Richardson &amp; Wrench Northbridge/Castlecrag for $3.01 million
6. 1/10 Black Street, Brighton, VIC, 3186, four-bedroom house, sold at auction on September 15 by Marshall White &amp; Co for $2.73 million
7. <a href="https://www.myrp.com.au/n/51-holdsworth-street-woollahra-nsw-2025/myrp-490?propertyId=7737983">51 Holdsworth Street, Woollahra, NSW, 2025</a>, three-bedroom house, sold at auction on September 11 by Bradfield Cleary Real Estate for $2.6 million
8. <a href="https://www.myrp.com.au/n/5-milner-street-mosman-nsw-2088/myrp-490?propertyId=4492926">5 Milner Street, Mosman, NSW, 2088</a>, five-bedroom house, sold at auction on September 15 by Richardson &amp; Wrench Mosman/Neutral Bay for $2.475 million
9. <a href="https://www.myrp.com.au/n/1-foote-street-brighton-vic-3186/myrp-490?propertyId=10011128">1 Foote Street, Brighton, VIC, 3186</a>, four-bedroom house, sold at auction on September 15 by Kay &amp; Burton Brighton for $2.33 million
10. <a href="https://www.myrp.com.au/n/51-york-road-queens-park-nsw-2022/myrp-490?propertyId=5706327">51 York Road, Queens Park, NSW, 2022</a>, four-bedroom house, sold on September 11 by Black Lifestyle Property Randwick for $2.31 million
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Toorak tops RP Data priciest 10 sales of the week

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Recently, a mid-20th century home <a target="_blank" href="https://www.marshallwhite.com.au/?pagecall=property&amp;propertyID=2070561">at 64 Rosedale Road, Glen Iris</a>, was quoted at $1 million to $1.1 million. It sold for $1,226,000. 
Soon afterwards in Sydney, a period-style property at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/10-koorinda-avenue-kensington/Property-Details-rent-residential-4372933">10 Korrinda, Avenue Kensington</a>, was quoted at around $1.4 million. It sold for $1.63 million. 
Both properties needed renovating to bring them up to their best – yet both auctions generated fierce competition from multiple buyers. 
Significantly, neither home has a previous sales record. Each one was tightly held for decades before changing hands and achieving a strong result for the vendor. 
What’s going on? Why did these properties bring such good results for vendors in a market that has otherwise been caught in a holding pattern throughout 2012? 
Bucking the trend 
This year, I’ve been fascinated to observe a consistent trend in the characteristics of properties achieving good sale prices in Melbourne and Sydney alike. These are mid-priced properties in the $1 million to $2 million price bracket, bordering the inner and middle-ring suburbs such as Blackburn, Box Hill and Glen Iris in Melbourne; and Kensington, Haberfield and Artarmon in Sydney. 
In each case, these properties need some cosmetic work, but are otherwise solid and liveable. They may not be oil paintings, but they are being fiercely contested at auction, with multiple genuine bidders and dozens of interested onlookers. 
In Melbourne and Sydney alike, this sector of the market is consistently bucking the trend in 2012. 
These properties highlight one of the great unsung truths about the property market. Even when the overall picture is one of subdued activity and restrained price growth, some property styles and locations will always outperform the rest. 
Why is this the case? 
Low debt = few forced sales 
The first factor lies on the supply side. Vendors of these homes moved in 30 or 40 years ago to raise their young families. With plenty of time to pay down their mortgage, they have little or no debt on their home. 
Because debt is not an issue, they can sell when the time is right for them, not when they’re under financial pressure. This keeps supply levels relatively low and makes these markets harder to get into. 
Fulfilling the home buyer ‘wish list’ 
Secondly, demand for these properties is being fuelled almost entirely by 30- and 40-something home buyers. This sector falls into what is now the mid-range of the market in Melbourne and Sydney: too expensive for first-home buyers, and away from investor-dominated markets like entry-level properties in the inner suburbs where most tenants want to live. 
These properties have most or all of the characteristics that home buyers (particularly those with young families) look for when they’re upsizing from their first home: a good-sized block of land; proximity to well-established schools and public transport routes; nearby parklands, sporting and healthcare facilities, shopping centres and so on. 
Effectively, these buyers are looking to step in and take over where the vendors are leaving off. They’re perpetuating the popularity of these areas for a new generation. 
In short, these star-performing properties and locations are characterised by long-term scarcity of supply and consistent levels of demand. That’s always a recipe for solid capital growth. 
The rise of the ‘home investor’ 
What’s more, home buyers seeking to enter this sector of the market understand that their family home should serve as an investment. Yes, they want a secure roof over their heads. Yes, they want a property and location that satisfies their lifestyle criteria. 
But they also know that in 20 or 30 years – when the time comes to move on and hand over the mantle to a new generation of home buyers – they will want that home to achieve a similarly strong level of capital growth as it did for the person who sold it to them. They know that when they do eventually move on, the equity from that home must serve as a springboard for moving on to a different phase of their life. 
In other words, the psychology of home buyers in these areas is changing. Thanks to the information age, and the volume of information available about the property market, these home buyers are becoming more educated about the true dynamics of the market and are using this information to their advantage. They are becoming what I call “home investors”. 
The combination of limited supply and strong demand means that buying into these areas is no easy task. From what I’ve observed, those who succeed come to the table with a fair amount of equity from the sale of their first homes (probably one- or two-bedroom apartment or single-fronted terrace in a sought-after inner suburban area). 
These people will always make good money when they sell, because they have always viewed their home as an investment. 
Pragmatism over idealism wins the day 
Interestingly, home investors don’t necessarily need to “fall in love” with a property to see its potential. They don’t mind if the kitchen isn’t renovated. They can do without a four-car garage and a media room. They just want a property that fulfils their lifestyle and investment basics: good-sized block, established location, good amenities. 
These pragmatists are the driving force what I believe has been the strongest sector of the property market in 2012. There is very little softness in this sector. It's the market sector that is bucking the trend – and will continue to do so as a new generation of home investors takes up the mantle.  
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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