Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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The Greater Building Society has cut its five-year fixed-rate home loans rate to 5.99% – the first time since March 2009 its rate has dropped below 6%.
The latest rate is down 16 basis points, with a comparison rate of 6.08%.
Its five-year fixed-rate ultimate (packaged) home loan is down 15 basis points to 5.95%, with a comparison rate of 6.33%.
The Greater Building Society’s David Bryde says its rates are lower than those of the major banks and the gap widens when comparison rates are used.
“Consumers should always use comparison rates when looking at home loan rates because they are a truer rate, taking into account fees and charges,” Bryde says.
 Bryde says that fixed rates suit people who demand certainty.
“With uncertain economic times and conjecture about which way rates may go fixing rates can be attractive for some customers,” he says.
“These lower fixed home loan rates are another reason why people should consider switching from their bank, and it is easier to do that than people think.”
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Greater Building Society five-year fixed home loan rate drops to 5.99%

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Australian property is overpriced – and possibly set to fall much further than they already have – according to Michael Power, an Investec Asset Management strategist.
He told an investors' briefing in Sydney that while Australia won’t experience the same bust as overseas, the situation is “a real worry, medium term”.
He says prices could fall by as much as 15% in the next two years.
Although residential property prices in Australia have dropped over the last two years, they are still among the highest in the world, Power suggsts.
"When you see what [the property market in] Australia has done, you have to ask ... you may be exceptional, but how exceptional are you.”
"Your level of debt is one of the highest in the world as a percentage of incomes ... [it] will turn against you if there's a real problem."
“This is something that, at some point, catches up with you,” Power says.
“I know a number of investors around the world putting their top short as Australian property.”
He says recent declines in prices show the market is not at its bottom point despite the thoughts of local commentators.
“If you think things have stopped declining at 6% and you’ve just in the last eight weeks had a terms of trade shock, then what you are now experiencing could get a lot worse.”
“I mean, most big property bubbles don’t end at a 6% decline.”
While the price will fall, he says Australia will avoid “anything like a US-style, Irish-style, Spanish-style property bust”.
“I think over the next 18 months it could go down by double digits – 12 or even 15%."
“It’s probably started to put pressure on your banks, and it has actually started to show up in their non-performing loans.
“That’s the first negative that generally starts to show through. But I think the negatives are going to start to show up now in the wake of the change in terms of trade.
“That’s started taking place In Australia . . . I think that could start to increase pressure.”
The Australian Financial Review and The Australian both reported the briefing by Investec, an international specialist banking and asset management group.
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Australian housing prices 'a real worry' and could fall 15% in next two years: Investec strategist

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Ideally for mine, one-bedroom apartments should be no smaller that 60 to 65 square metres (including balcony) and two-bedroom apartments no smaller than 85 to 90 square metres gross.
<a href="https://www.propertyobserver.com.au/developments/apartments-are-becoming-smaller-cheaper-and-more-popular-as-australians-lose-their-appetite-for-big-michael-matusik/2012091156509">Australians are increasingly showing a preference for smaller units</a>, but in a perfect world the one-bedroom stock would be about 70 square metres and two-bedders about 100 square metres.  But perfect worlds these days are rare indeed.
I don’t really like – nor do I think they will rent as well many such off-the-plan developments current advocate – the current trend towards extremely tight two-bedroom apartments.  These are often the size of a one-bedroom apartment (i.e. under 70 square metres).  So apartments can be too small.
Also for mine, when looking to buy a new apartment – apart for price, size (apartments + overall development), location, quality and development team pedigree – buyers should also be very critical of design.  Important things when it comes to apartment design/inclusions include:
<ul>
<li>galley kitchen</li>
<li>separate bedrooms (both with direct natural light)</li>
<li>equal ensuites</li>
<li>wardrobe space</li>
<li>linen store</li>
<li>separate laundry</li>
<li>study nook</li>
<li>ceiling height</li>
<li>air-conditioning, ducted preferred</li>
<li>parking provisions, including visitors</li>
</ul>
See, you just cannot fit all the important stuff into a shoe box.
Michael Matusik is the founder of <a href="https://www.matusik.com.au/" target="_blank">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a title="blocked::https://www.matusikmissive.wordpress.com /" href="https://www.matusikmissive.wordpress.com%20/" target="_blank">Michael's blog</a> or follow him on <a href="https://www.twitter.com/michaelmatusik" target="_blank">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
{module What should be the smallest size for a one-bedroom apartment?} 
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Why apartments should not be smaller than 60 square metres

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The Wollaroy Crescent, Double Bay, home of the Ridhalgh family has sold for $4 million, shy of its $4.5 million-plus price hopes. 
It is the top sale of the week, according to RP Data.
It sold just before<a target="_blank" href="/news"> its scheduled auction </a>on September 8. It last sold for $1,467,000 in 1998, according to RP Data, and was listed for rent at $790 per week in 2009. 
McGrath selling agent Richard Cooper describes it as and "elegant family home" with the "homey feel of a country manor".
Seven of the top 10 sales of the week this week are in NSW, with the remaining three in Victoria. 
1. <a href="https://www.myrp.com.au/n/1a-wallaroy-crescent-double-bay-nsw-2028/myrp-490?propertyId=2119217">1A Wallaroy Crescent, Double Bay, NSW, 2028</a>, five-bedroom house, sold prior to auction on September 8 by McGrath Estate Agents for $4 million
2. <a href="https://www.myrp.com.au/n/35-crows-nest-road-waverton-nsw-2060/myrp-490?propertyId=7378121">35 Crows Nest Road, Waverton, NSW, 2060</a>, four-bedroom house, sold on September 5 by Ray White Lower North Shore for $2.77 million
3. <a href="https://www.myrp.com.au/n/25-huntingtower-road-armadale-vic-3143/myrp-490?propertyId=9316039">25 Huntingtower Road, Armadale, VIC, 3143</a>, three-bedroom house, sold at auction on September 8 by Marshall White &amp; Co for $2.35 million
4. <a href="https://www.myrp.com.au/n/666a-port-hacking-road-south-dolans-bay-nsw-2229/myrp-490?propertyId=2107649">666A Port Hacking Road, Dolans Bay, NSW, 2229</a>, three-bedroom house, sold at auction on September 8 by McGrath Estate Agents for $1.91 million
5. <a href="https://www.myrp.com.au/n/16-1-spains-wharf-road-neutral-bay-nsw-2089/myrp-490?propertyId=4829160">16/1 Spains Wharf Road, Neutral Bay, NSW, 2089</a>, three-bedroom unit, sold on September 5 by Prestige Home Sales Crows Nest for $1.872 million
6. <a href="https://www.myrp.com.au/n/118-sackville-street-kew-vic-3101/myrp-490?propertyId=11356490">118 Sackville Street, Kew, VIC, 3101</a>, four-bedroom house, sold at auction on September 8 by Hocking Stuart Hawthorn for $1.8 million
7. <a href="https://www.myrp.com.au/n/3-chalmers-road-strathfield-nsw-2135/myrp-490?propertyId=6481536">3 Chalmers Road, Strathfield, NSW, 2135</a>, five-bedroom house, sold prior to auction on September 8 by Georges Ellis &amp; Co for $1.8 million
8. <a href="https://www.myrp.com.au/n/70-fitzgibbon-street-parkville-vic-3052/myrp-490?propertyId=12470385">70 Fitzgibbon Street, Parkville, VIC, 3052</a>, four-bedroom house, sold at auction on September 8 by Hocking Stuart Carlton for $1.775 million
9. <a href="https://www.myrp.com.au/n/224-3-darling-island-road-pyrmont-nsw-2009/myrp-490?propertyId=5651197">224/3 Darling Island Road, Pyrmont, NSW, 2009</a>, two-bedroom unit, sold at auction on September 8 by Morton &amp; Morton Real Estate for $1.76 million
10. <a href="https://www.myrp.com.au/n/9-bank-lane-mcmahons-point-nsw-2060/myrp-490?propertyId=4166037">9 Bank Lane, McMahons Point, NSW, 2060</a>, four-bedroom house, sold at auction on September 4 by Ray White Lower North Shore for $1.74 million
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Ridhalgh family's Double Bay home top sale of the week: RP Data

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Australia’s housing market is not heading for a crash but could undergo a decade-long period of stagnation with house prices declining in real terms, according to Residex CEO John Edwards.
Speaking to Peter Switzer on Sky Business this week, he said a stagnation in house prices was likely if “things continue to the way they are going and the government and RBA do not do the things they need to do” to stimulate a recovery.
“In real terms they are likely to fall marginally over the next decade,” Edwards said.
“A little pessimistic, I know,” he added.
According to Edwards, long-term stagnation only occurs during very severe recessionary or depressionary periods.
However, he said given what was happening in Europe and other parts of the world there could be a global crisis.
“We have one now, but it could get worse.”
Locally, he says the key factor is the unemployment rate.
But he tempered these comments by saying that even in periods when things go badly, property tended to do better than other asset classes.
“The stock market is much more volatile – and you see something [like a crash] much more often.
“Housing remains the best in terms of investment and the lowest and safest risk option."
Looking at the current capital city housing market, he said the bottom line was that the housing market had improved somewhat over the last few months.
But he said Residex data indicated the housing market was very fragile.
“It has been improving, but it has been in and out of correction in recent times."
Residex has Australian house prices down around 1.4% to a median of $430,00 for the year to July and unit prices up 0.8% to a median value of $401,500.
Edwards said Sydney was now doing OK and Brisbane is “well out of its correction phase” but Melbourne “looks like it is about to enter a correction phase”.
Edwards said rental rates would rise substantially above inflation due a shortage of rental property.
“Across the market there are good places to be and bad places to be.”
“Generally the unit market is doing better than houses because of better affordability.
“This is the market that is going to perform best provided we don’t have oversupply issues like markets like Melbourne,” said Edwards.
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No Australian housing crash, but market could stagnate for a decade: Residex’s John Edwards

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<img src="/images/stories/2012/09/2point4m.jpg">
The price paid for 485-square-metre premises occupied by KFC and Video Ezy at 770 Albany Creek Road, Albany Creek in Brisbane’s outer north-west. The property stands on a 2,619-square-metre site and includes 18 car bays. Annual net income is $168,000, reflecting an initial yield of 7.05%. The property was sold by Sam Hatcher from Jones Lang LaSalle. It was sold from one private investor to another.
 
<hr>
<img src="/images/stories/2012/09/200kplus.gif">
How much a 60-square-metre medical strata unit at Mermaid Beach on the Gold Coast is expected to sell for when it goes to auction later this month. The property at 4/2437 Gold Coast Highway will be sold as part of Colliers International Gold Coast spring auction portfolio, to be held in the Colliers International office at Circle of Cavill in Surfers Paradise on September 20. The strata unit is in a complex of around a dozen. Unit four in situated on the ground floor of the two-level building. It was previously occupied by Brisbane-based Psycare. James Crawford of Colliers International is running the auction campaign for the property and says it would be ideal for an owner-occupier, with rates possibly lower than what is being paid in rent to a landlord. The unit includes underground car parking and has three consulting rooms, as well as a reception area and a kitchen.
 
<hr>
 
 
<img src="/images/stories/2012/09/2m.gif">How much Stockland is seeking for three remaining development sites forming part of the Allisee development on the Gold Coast. The three Hollywell properties are being marketed by Darrell Irwin and Scott Zahner of Colliers International special projects division. The three medium-density residential development sites, consisting of lots 6, 7 and 10 at 323 Bayview Street, total 8,679 square metres and are being offered for sale in one line. Lot 6 has a total area of 1,342 square metres, lot 7 has a total area of 2,935 square metres and lot 10 has a total area of 4,402 square metres. Zahner says interest has predominantly come from development groups, both local and interstate. The three remaining parcels of land are located within the secure gated environment of the Allisee residential project, which has 180 metres of direct frontage to the Gold Coast Broadwater foreshore. The Allisee project occupies a 6.3-hectare waterfront site on the corner of Bayview Street and Columbus Drive at Hollywell, on the Gold Coast’s north shore. It comprises 196 two- and three-bedroom apartments and penthouses over seven six-storey buildings.
 
<hr>
 
<img src="/images/stories/2012/09/632k.gif">The price paid for a recently refurbished professional office on the southern side of Toowoomba’s CBD. The corner site property at 647 Ruthven Street, Toowoomba, was sold to local business, Retire Invest (RI) Toowoomba, by Mark Wynhoven and John Smith of Ray White Commercial Toowoomba. The refurbished 838-square-metre office site features 203 square metres of gross floor area and was suited to RI Toowoomba’s operations. The building underwent a high-quality refurbishment in October 2009 and is fully air-conditioned and data cabled and features a kitchenette as well as male, female and disabled amenities.
 
<hr>
 
<img src="/images/stories/2012/09/6point3m6point5m.gif">The price a 5,390-square-metre freestanding office/warehouse facility in Huntingwood, Western Sydney, is expected to sell for. It is currently leased to Just Jeans to December 2013. Located at 11 Huntingwood Drive, it has been listed for sale for the first time since it was built. It stands on a total land area of 13,280 square metres and comprises ground floor office space, functional warehouse space, four loading docks, two roller shutter doors and a large yard area.  It is being sold CBRE’s Greg Pike and Matthew Flynn on behalf of vendor Heathley Limited. Pike says the property is being targeted owner-occupiers looking to capitalise on a lack of quality industrial stock being offered for sale across western Sydney. The property is situated within the prime Western Sydney location of Huntingwood, in close proximity to the Great Western Highway and M4 Motorway. It is offered for sale by private treaty.
 
 
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Commercial hammer prices: Stockland seeks $2 million for three Gold Coast development sites

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The mining town of South Hedland is the leading town in WA where it’s cheaper to buy that rent, according to RP Data.
The data company's figures show that it can be $3,184 a month cheaper to buy a property with a principal and interest loan that it is to rent.
Agent Ryan Crawford from Crawford Realty says it’s been the case for a long time but rents have jumped noticeably in the last three months.
“There was a substantial jump in people coming to town at that time, and that flowed through into the rental market,” Crawford says.
He says the projects have been going on for a long time and are projected to last for some time into the future.
“They’re all long-term projects. There’s some interesting things happening with prices and China. Whilst that is a short-term thing that will fluctuate with global sector changes, the major effects are based on pricing. The commitments that mining companies like BHP and FMG have made will span 10 years plus.”
“Some have been put on hold. They’re just that – on hold."
Crawford says even though some projects have been put on hold the decisions haven’t had a large influence on the housing market.
“While people might see the postponements at taking large chunks out of the market, it’s not the case because the majority of work forces haven’t been bought on yet.”
Crawford is currently marketing 18 Lovell Place (architect's impression below), a block of eight units due to be finished next year.
<img src="/images/stories/2012/09/lovell.jpg" width="470">
Two of the units, priced at $599,000, have already sold.
The units are expected to rent at more than $1,300 a week, providing yields of 11.3%.
“The site is a fantastic option to get a low price unit in the market,” Crawford says.
Crawford says almost all interest in South Hedland comes from investors.
“It’s heavily investor based. Through our market it’s 90% investors. They come from the West Australian market, and there’s a lot of interest from the east coast and overseas.”
 
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A recent Westpac report found <a href="https://www.propertyobserver.com.au/queensland/moranbah-and-port-hedland-unsustainable-single-industry-mining-boom-hotspots-westpac/2012090655622" target="_blank">Port Hedland, the associated mining town is a “single-industry” and possibly risky  town</a>, making it harder for investors to secure loans in the area.
The Real Estate Institute of Western Australia's David Airey says the changes probably reflect a view from within the bank that “housing prices and rental returns in particular, in places like Karratha, Port Hedland, South Hedland and Newman are unsustainable”.
“The state government is anxious to address affordability in the Pilbara, and while this won’t happen overnight it’s clear that housing demands will be better met over the next few years.”
Crawford says there are big market differences between South Hedland and Port Hedland.
“The demographics really vary between Port Hedland and South Hedland and one differences is price point. Port Hedland is on the ocean while South Hedland is inland,” Crawford says.
“The price difference for a similar home is now $500,000 to $600,000 just from inland to coastal.
“Port Hedland is priced fairly high and is relatively unaffordable, but in South Hedland while there are increases it is still affordable.”
One of the main developments coming in to South Hedland is a 500-plus dwellings project exclusively for BHP staff.
Crawford says the project is at least two years from completion.
RP Data compared the cost of a mortgage vs the cost of renting in four different ways: 1, Principal and interest loan on a variable mortgage rate; 2. Interest-only loan on a variable mortgage rate; 3. Principal and interest loan on a three-year fixed mortgage rate; and 4. Interest-only loan on a three year fixed mortgage rate.
The comparison does not take into consideration stamp duty, associated buying costs and strata fees, where applicable. 
The data contains both units and houses, but in most suburbs on the list it is cheaper to buy a unit than buy one.
The median house asking rent in South Hedland is $1,775 a week, according to RP Data, which estimates it is $3,184 cheaper per month to buy a house with a principal and interest variable mortgage than rent one.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/08/rpsept36.gif" rel="shadowbox"><img src="/images/stories/2012/08/rpsept36thumb.gif"></a>
<a href="https://www.myrp.com.au/buyorrent" target="_blank">For the full list of all suburbs,  </a><a href="https://www.myrp.com.au/buyorrent" target="_blank">visit RP Data's website.</a>
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South Hedland heads the regional Western Australian localities cheaper to buy than rent: RP Data

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The outer-Sydney land market has moved into an early recovery phase of the property cycle – let’s say seven on the property clock – and Macquarie Street’s focus has shifted to supply side incentives, corralling purchasers toward new dwellings. The state’s growth engine lies in a healthy and vibrant land market; the critical ingredients of which are: measured supply meeting strong demand with rising prices, availability of credit, and market certainty.
For the better part of 2003-04 through 2008-09, Sydney’s developers have been “on strike” — their field thinned out as the business of being a developer became all too hard; with post-GFC funding constraints, diminished margins, uncertainty and delays in the approval process, increasing holding costs and the weight of government charges, levies, fees and taxes. The following chart illustrates the cost contribution to lot production: land acquisition 34% land preparation 11%, developer profit averaging 18% and government taxes some 26%.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/09/bregoz.gif" title="Click to enlarge"><img src="/images/stories/2012/09/bregozthumb.gif"></a>
The GFC had the real potential of being outer-Sydney land market’s coup de grâce – as lot production fell to only 1,400 lots – but for rapid intervention by both state and federal governments in the form of housing grants/incentives.
Broadhectare lot production increased for both 2009-10 (some 2,960 lots) and 2010-11 (at 4,200 lots), with NSW Department of Planning and Infrastructure reporting 4,230 lots released for 2011-12.
A slow correction to land prices from 2007-08 has underpinned future market growth; the outer-Sydney median land price peaked in 2004-05 before falling some 29.5% in real terms over the four years to 2008-09.
Since this time, growth has averaged 2.8% per annum with a 2011-12 median of $301,900. For development to occur, the market requires appreciating land prices. The recent growth in established outer-Sydney house prices will encourage more upgraders to sell and take up house-and-land packages over an established dwelling.
Demand is now sufficiently strong enough to drive price growth and maintain this momentum. Generally, land price growth is sharper during a residential upturn and remains flatter through a market downturn. Given the timing lags from planning through development to sale, developers are often caught short during an upturn, driving strong price growth. An over-supply then emerges, resulting in a period of price stagnation.
Overall, however, average price growth for land slightly outpaces that of houses. When house prices are outpacing construction costs, the residual flows back through to the residual value of the land – a clear link between demand pull inflation and asset pricing.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/09/bissept11.gif" title="Click to enlarge"><img src="/images/stories/2012/09/bissept11thumb.gif"></a>
When comparing the two periods 1992-97 and 2007-12 a trend away from the outwards expansion of the populace is evident, with the proportion of new dwelling approvals in the inner and middle rings increasing from 54% to 63%.
This is significant for the outer-Sydney land market as infill development tips the scales in favour of areas located closer to Sydney’s urban and commercial core; consumers adjusting their preference for “backyard, barbecue and big commute” to “balcony, park and lifestyle”.
The enhancement of satellite employment centres (such as Parramatta, Liverpool, and Campbelltown) would encourage the local income growth needed to service mortgages, broaden the economic base of these areas and in turn support the land market. Opportunity driving growth and growth driving opportunity.
 
<hr class="system-pagebreak">
 
Share of total dwelling approvals by inner, middle and outer Sydney
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/09/bissept111.jpg" title="Click to enlarge"><img src="/images/stories/2012/09/bissept111thumb.jpg"></a>
Source: ABS, NSW Department of Planning and Infrastructure, BIS Shrapnel
Not surprisingly, first-home buyers purchasing house-and-land packages are typically most active in the outer ring areas as opposed to the inner and middle-ring areas; the lower land costs meet their income and equity levels.
The first-home owner segment typically represents around 20% of total market activity; importantly, however, the first-home buyer activity provides a base load of activity facilitating the upgrader, changeover and investor market segments.
At current land prices, new houses are relatively unaffordable for first-home buyers, and a buoyant outer-suburban housing market is required for upgraders to sell their dwellings into. The north-west region has the greatest level of new lot production with some 37% of total lots produced over the 2000–2012 period and generally holding up better than the south-west (27%) and central coast (16%).
Hemmed in by the Blue Mountains to the west and the city to the east, Sydney faces a shortage of viable sites to the southern and north-western growth corridors, areas with disparate and fractured ownership patterns (mostly hobby farms and market gardens).
A program of strategic site consolidation, combined with an accelerated infrastructure delivery program, is needed to open up these areas to house the needs of Sydney’s future populations. But the good news story is that a corner has been turned, although lot production is still well away from, and possibly unlikely to ever get to, the 9,000 lots produced annually at the turn of the last decade.
Martin Bregozzo is a senior project manager and property economist at <a target="_blank" href="https://www.bis.com.au/">BIS Shrapnel.</a>
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Outer-Sydney land market in recovery phase of cycle: BIS Shrapnel's Martin Bregozzo

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Australian dwelling starts rose by 4.6% in the June quarter to 34,116 – the first rise in five quarters – boosted by a 19% rise in apartment starts, which reached 13,011, according to new ABS figures.
However, in the more depressed detached new housing sector, starts fell 1.7% to 20,523 to be at their lowest level in more than a decade (June 2001 quarter).
New housing starts are down 10.7% year-on-year, while unit starts are down 4.9% year-on-year.
Over the year to June 139,349 dwellings were commenced down 2.7% on the prior year.
The 11-year low for new housing starts comes a day after the <a href="https://www.propertyobserver.com.au/queensland/the-%2415000-queensland-first-home-owner-construction-grant-what-first-home-buyers-need-to-know/2012091156510" target="_blank">Queensland state government introduced a new $15,000 first home owner construction grant</a> taking effect today.
A similar scheme will take effect in NSW from October 1.
“The announcement of additional assistance to Queensland’s housing construction sector in the 2012?13 State Budget is likely to see a sustained increase in Queensland housing construction,” says Commonwealth Bank economist James McIntyre.
“Our broader housing construction outlook already incorporates a recovery in Queensland activity levels.”
Peter Jones, chief economist at Master Builders Australia (MBA), which successfully lobbied the Queensland government to introduce the new $15,000 construction grant, says the June figures are cold comfort for builders who continue to face very difficult operating conditions.
“Builders are struggling and with little joy in the forward indicators there is an urgent need for policy action at all levels of government.
“Further rate cuts from the Reserve Bank are needed to turn consumer pessimism around and ensure that demand recovers.
“Removing policies that work to restrict supply must be a focus for all governments. Policies that prevent the residential building industry meeting the serious undersupply of housing must be addressed. Poor land release strategies and inefficient developer charges should be the first place to start.
“The housing sector has been underbuilding for the past seven years and it is crucial that Australia’s residential building industry now embarks on a major growth phase to overcome the housing shortfall.
“Urgent reform is required to address supply bottlenecks otherwise a strong industry response to meet underlying demand cannot eventuate. This will exacerbate Australia’s housing affordability crisis, increasing rents and house prices as people chase less stock,” says Jones.
On a state-by-state basis, dwelling commencements increased by 25.9% in New South Wales, 2.8% in Victoria, 8.1% in Queensland and 68.8% in the Northern Territory.
HIA chief economist Dr Harley Dale pointed out that improvements in the June quarter were "narrowly based, primarily occurring in the non-detached dwelling segments of New South Wales and Victoria, which recorded impressive increases of 64.5% and 15.8%, respectively.
“This reflects the market’s response to policy changes in these two states," says Dale.
Seasonally adjusted dwelling commencements fell by 9.3% in South Australia, 6.1% in Western Australia, 5% in Tasmania, and 1% in the ACT.
The HIA says the June quarter figures confirm that Australia’s new home building sector fell back into recession in 2011-12
"To lift dwelling commencements off a GFC-equivalent low from 2012-13 requires policy reform and investment from federal and state governments, augmented by further interest rate deductions," says Dale.
"Too few governments in Australia are implementing the policies required to stem the negative consequences a persistently weak new housing sector is having on tens of thousands of Australian businesses and many more labour market participants.”
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Unit starts boost residential construction in June quarter but house starts fall to 11-year low: ABS

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The latest Westpac-Melbourne Institute Consumer Sentiment Index augers well for the spring buying season, with the "time to buy a dwelling" sub-index rising 7.6% in September.
The sub-index increased from 118.5 points in August to 127.7 points in September – now well above the 100 mark where optimists and pessimists are equally weighted.
Consumers are now marginally more confident about buying a house than buying a car, with the sub-index tracking "time to buy a vehicle" down 0.2 points in September to 126.1.
The improvement in house buying sentiment also contrasts starkly with the sub-index “time to buy a major household item”, which fell 0.5 points to 124.9.
Overall consumer sentiment rose by a modest 1.6% in September from 96.6 in August to 98.2 in September, the seventh consecutive month that the index has been below the benchmark 100 reading.
The results were based on a survey of 1,200 adults aged 18 and over conducted from September 3 to September 8. The RBA left the cash rate unchanged at 3.5% on September 5.
Westpac chief economist Bill Evans noted that apart from the 2008-09 period (in the wake of the GFC) when the index held below 100 points for 16 consecutive months, this represents the longest run of consecutive ‘sub 100’ prints since the early 1990s.
Evans says consumers are clearly stuck in an extended ‘cautiously pessimistic’ phase.
“In September last year the Index printed 96.9 so it has only increased by 1.3% over the whole year. That is despite 125 basis points of rate cuts from the Reserve Bank; a more or less steady unemployment rate which is close to full employment; and some recent positive news around the threatening European situation.
“This does not bode well for consumer spending and is consistent with the slowdown in consumer spending indicated by the June quarter national accounts.”
AMP Capital Investors chief economist Shane Oliver also noted the improvement in September but tweeted that the level of 98.2 “remains sub-par and little different to when rates started coming down late last year”.
Similarly Business Spectator and Market Economics economist Stephen Koukoulas tweeted that consumer sentiment is still “fragile at best”.
“Fits fit picture of economy doing OK but with more risks to the downside than up," Koukoulas said.
In his analysis Evans noted the improved outlook from households with the sub-index tracking views on “family finances compared with a year ago” up 0.3% compared with the forward-looking “family finances over the next 12 months” sub-index which rose 4.8%.
“By June this year we were particularly concerned by readings on “family finances over the next 12 months”, which was printing at a level around the low point of the 2008-09 period.
“Since then we have seen an encouraging improvement in this component which has increased by 11.4%.
“However, it is still at a historically low level.
“For example the average print of that component during that 2008-09 period when the index registered 16 consecutive months below 100 was 105.2 – today’s print of 96.2 is still well below that average.
“We can only conclude that respondents remain concerned about their finances despite the recent rally.”
Evans says Westpac expects the RBA to cut the official cash rate by 50 basis points over two meetings by year’s end.
“The case for lower rates is strong. Inflation remains well contained and the RBA’s own forecast has inflation remaining consistent with the target over the next one to two years. Interest rates are only slightly below neutral levels.”
"In short, we think the case for lower rates has already been made and there must be a reasonable chance that the Bank will decide to move in October. However, central banks are conservative so a November ‘call’ for the first move looks to be more prudent," says Evans.</body></html>

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