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

<html><body>
Unit and townhouse prices in Brisbane increased by 3.8% over the June quarter to a median of $402,500 but sales volumes fell as some buyers awaited stamp duty changes that kicked in on July 1, according to new figures published by the Real Estate Institute of Queensland (REIQ).
The strong quarterly performance means unit prices are now down just 1.5% on a year ago, with a 12-month median price of $399,000.
The REIQ noted an increase in the number of high-end unit sales in Brisbane city and city-fringe suburbs, which it says “augurs well for confidence levels amongst buyers”.
It also noted an  increasing number of first-home buyers and investors in the market (these two groups are unaffected by the July 1 stamp duty changes) compared with owner-occupiers over the June quarter.
There was a mixed bag of results for inner-city suburbs, which are the focus of a wave of new apartment projects, with around 40 in various stages of development and construction.
In the Brisbane CBD, where Harry Triguboff’s Meriton group is building Brisbane’s tallest residential tower, the 81-level Infinity tower featuring 546 apartments, prices climbed 37.2% to a median $532,500 to be down only 0.5% year-on-year
In Hamilton, site of Devine and Leighton Holdings $500 million Hamilton Harbour mixed-use development along the northern banks of the Brisbane river, unit and townhouse prices were up nearly 10% over the quarter to a median of $445,000 – down 0.4% year-on-year.
Also along the northern banks of the Brisbane River, Newstead unit prices rose 57.6% over the quarter to a median of $750,000 due to a high number of waterfront properties. Year-on-year they are down nearly 13%.
In neighbouring New Farm, apartment prices rose nearly7% to a median of $510,000 but are down 4.8% year-on-year.
However, over the quarter, median prices fell in 6.4% in Fortitude Valley ($379,000), 17.1% in the West End ($487,000) and 16.7% in another development hub, Woolloongabba ($400,000).
<table border="0" cellpadding="0" cellspacing="0" width="394">
<colgroup>
<col width="175">
<col width="73">
<col width="73" span="2">
</colgroup>
<tbody>
<tr height="68">
<td height="68" width="175">Locality</td>
<td width="73">Median Sale Mar12</td>
<td width="73">Qtrly change</td>
<td width="73">1yr change</td>
</tr>
<tr height="16">
<td height="16">BRISBANE</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr height="16">
<td height="16" width="175">BRISBANE CITY (LGA)</td>
<td>$402,500</td>
<td>3.8%</td>
<td>-1.5%</td>
</tr>
<tr height="16">
<td height="16" width="175">ANNERLEY ~ * t</td>
<td>$350,000</td>
<td>-13.6%</td>
<td>-2.5%</td>
</tr>
<tr height="16">
<td height="16">AUCHENFLOWER ~</td>
<td>$477,500</td>
<td>32.6%</td>
<td>-2.9%</td>
</tr>
<tr height="16">
<td height="16" width="175">BRISBANE CITY ~ *</td>
<td>$532,500</td>
<td>37.2%</td>
<td>-0.5%</td>
</tr>
<tr height="16">
<td height="16">BULIMBA ~</td>
<td>$497,000</td>
<td>-7.5%</td>
<td>0.4%</td>
</tr>
<tr height="16">
<td height="16">CALAMVALE ~</td>
<td>$365,000</td>
<td>17.7%</td>
<td>0.0%</td>
</tr>
<tr height="16">
<td height="16" width="175">CAMP HILL</td>
<td>$387,750</td>
<td>1.4%</td>
<td>-10.1%</td>
</tr>
<tr height="16">
<td height="16" width="175">CARINA</td>
<td>$447,500</td>
<td>-2.5%</td>
<td>1.2%</td>
</tr>
<tr height="16">
<td height="16" width="175">CARSELDINE * t</td>
<td>$410,000</td>
<td>20.2%</td>
<td>0.3%</td>
</tr>
<tr height="16">
<td height="16" width="175">CHERMSIDE *</td>
<td>$368,000</td>
<td>5.9%</td>
<td>-10.3%</td>
</tr>
<tr height="16">
<td height="16" width="175">CLAYFIELD * t</td>
<td>$355,750</td>
<td>-3.5%</td>
<td>7.6%</td>
</tr>
<tr height="16">
<td height="16">COORPAROO</td>
<td>$345,000</td>
<td>-3.6%</td>
<td>-3.4%</td>
</tr>
<tr height="16">
<td height="16" width="175">EAST BRISBANE ~</td>
<td>$424,500</td>
<td>15.5%</td>
<td>-6.7%</td>
</tr>
<tr height="16">
<td height="16">EIGHT MILE PLAINS</td>
<td>$350,000</td>
<td>6.1%</td>
<td>-9.1%</td>
</tr>
<tr height="16">
<td height="16">EVERTON PARK ~ *</td>
<td>$455,000</td>
<td>3.4%</td>
<td>-9.1%</td>
</tr>
<tr height="16">
<td height="16">FORTITUDE VALLEY *</td>
<td>$379,000</td>
<td>-6.4%</td>
<td>3.9%</td>
</tr>
<tr height="16">
<td height="16" width="175">GREENSLOPES</td>
<td>$331,000</td>
<td>3.4%</td>
<td>-5.6%</td>
</tr>
<tr height="16">
<td height="16" width="175">HAMILTON * f</td>
<td>$445,000</td>
<td>9.9%</td>
<td>-0.4%</td>
</tr>
<tr height="16">
<td height="16" width="175">INDOOROOPILLY</td>
<td>$374,000</td>
<td>-8.8%</td>
<td>6.0%</td>
</tr>
<tr height="16">
<td height="16" width="175">KANGAROO POINT ~</td>
<td>$495,000</td>
<td>25.8%</td>
<td>-12.5%</td>
</tr>
<tr height="16">
<td height="16" width="175">KEDRON ~</td>
<td>$440,000</td>
<td>27.4%</td>
<td>14.5%</td>
</tr>
<tr height="16">
<td height="16" width="175">KELVIN GROVE *</td>
<td>$472,500</td>
<td>18.1%</td>
<td>5.1%</td>
</tr>
<tr height="16">
<td height="16">MOOROOKA * t</td>
<td>$398,750</td>
<td>11.7%</td>
<td>-0.5%</td>
</tr>
<tr height="16">
<td height="16" width="175">MORNINGSIDE</td>
<td>$460,000</td>
<td>10.8%</td>
<td>4.1%</td>
</tr>
<tr height="16">
<td height="16">NEW FARM</td>
<td>$510,500</td>
<td>6.9%</td>
<td>-4.8%</td>
</tr>
<tr height="16">
<td height="16" width="175">NEWMARKET *</td>
<td>$407,000</td>
<td>3.9%</td>
<td>-9.5%</td>
</tr>
<tr height="16">
<td height="16" width="175">NEWSTEAD ~ * f</td>
<td>$750,000</td>
<td>57.6%</td>
<td>-12.9%</td>
</tr>
<tr height="16">
<td height="16" width="175">NUNDAH ~ *</td>
<td>$345,250</td>
<td>1.8%</td>
<td>-7.7%</td>
</tr>
<tr height="16">
<td height="16" width="175">SOUTH BRISBANE ~</td>
<td>$433,500</td>
<td>1.3%</td>
<td>5.9%</td>
</tr>
<tr height="16">
<td height="16" width="175">SPRING HILL</td>
<td>$392,000</td>
<td>5.2%</td>
<td>-0.6%</td>
</tr>
<tr height="16">
<td height="16">ST LUCIA ~ *</td>
<td>$480,000</td>
<td>9.1%</td>
<td>9.7%</td>
</tr>
<tr height="16">
<td height="16" width="175">TARINGA ~</td>
<td>$393,000</td>
<td>-20.0%</td>
<td>22.8%</td>
</tr>
<tr height="16">
<td height="16">TENERIFFE ~ * f</td>
<td>$580,634</td>
<td>8.5%</td>
<td>0.0%</td>
</tr>
<tr height="16">
<td height="16" width="175">TOOWONG</td>
<td>$438,000</td>
<td>8.7%</td>
<td>8.8%</td>
</tr>
<tr height="16">
<td height="16" width="175">WEST END * f</td>
<td>$486,800</td>
<td>-17.1%</td>
<td>0.8%</td>
</tr>
<tr height="16">
<td height="16" width="175">WOOLLOONGABBA *</td>
<td>$400,000</td>
<td>-16.7%</td>
<td>6.7%</td>
</tr>
<tr height="16">
<td height="16" width="175">YERONGA</td>
<td>$410,000</td>
<td>8.6%</td>
<td>-1.6%</td>
</tr>
</tbody>
</table>
Source: REIQ
~ Medians affected by varying quality of stock sold * Medians affected by varying quantities of new properties sold f Medians affected by varying numbers of waterfront properties sold t Medians affected by varying numbers of townhouse/villas sold - Due to the nature of properties in this suburb, some group titled property sales have been omitted
The stamp duty concession provides a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase.
However, there may be an artificial lull in the number of first-home buyer purchasing new apartments in the final months of 2012 depending on when the state government new $15,000 handout for new home purchase kicks-in. The government has plans to scrap the $7,000 first-home owner grant.
“As was the case with the house market, there was reduced unit and townhouse sales activity over the June quarter as many buyers waited for the return of the stamp duty concession on 1 July,” REIQ chief excecutive Anton Kardash says.
“However, as first-home buyers and investors were unaffected by the stamp duty change, these buyers were more prominent over the June quarter.
“Given the affordability of units and townhouses, as well as their often more central locations, first-time buyers and investors often compete for this type of property, which may be partly responsible for the increases in median prices we experienced over the period.”
 
 
 
 
 
 
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lschlesinger-FZcF9M3vE6

Brisbane unit prices up 3.8% in sluggish June quarter but mixed-bag of results for apartment development hotspots: REIQ

<html><body>
 Greenfield suburbs – the fastest-growing parts of our cities – must be built to meet the needs of future generations, not just initial residents, according to  the Grattan Institute.
Launching the Grattan’s new report, Tomorrow’s suburbs: building flexible neighbourhoods,  Jane-Frances Kelly, the cities program director at the institute, suggested within a generation these new developments would have residents with very different profiles and needs.
"If these suburbs are to thrive in the long term we should make them flexible and able to change right from the start."
"Yet greenfield suburbs are overwhelmingly dominated by family-sized detached houses when they are first built.
"If, unlike older areas, these suburbs can't change over time, they will lack the flexibility to meet the changing life circumstances of their residents.
"If a suburb cannot change as households change, then residents' quality of life will be diminished," she says.
Kelly saus that flexible suburbs contain land that can be used for different purposes, shopping centres that suit a range of businesses and shops, and buildings and homes that can be adapted as people’s needs change over time.
"But the communities being established in greenfield areas lack these qualities – even when they work well for current residents," Kelly says.
Instead, land tends to be strictly separated into commercial and residential uses, shopping centres lack diversity and offer limited scope for setting up local businesses, and there is a predominance of similar lot sizes with detached houses built on them, often right to the edges of the lot.
"A uniformity of housing options can make it difficult for residents to move house – into a smaller home, for example – as their needs shift over time," Kelly.
"If housing cannot adapt, a suburb may struggle to attract new residents, and new businesses. It will miss out on the process of renewal that is essential to successful cities."
Grattan’s report recommends ways to make new suburbs, shopping centres, buildings and homes more adaptable. It shows how a capacity to change has proved enormously valuable in existing urban areas, especially the older core of our cities.
"By pure chance, certain characteristics of these older areas made inner urban renewal easier," Kelly says.
"We are not saying we can reproduce these qualities in greenfield areas, but we can plan for flexibility right from the start."
The five suggested measures for new suburb developments that will enhance adaptability are recommended as:
<ul>
<li> a joint sale option that lets owners sell their land together if at least 90 per cent of them agree, starting 25 years after the initial purchase</li>
<li>town centres that can grow and change, surrounded by a variety of buildings that face the street</li>
<li>a 15-year limit on restrictive covenants</li>
<li>broader, mixed-use zones, with regular reviews of zoning across the city</li>
<li> new standards for connectivity based on how long it takes residents to get to a mix of jobs, shops and services.</li>
</ul>
</body></html>

jchancellor-FAypfDUnLy

Adapting to demographic change will be the key to greenfield suburb longevity: Grattan Instititute

<html><body>
The housing figures released today by the Australian Bureau of Statistics (ABS) show there’s been no response to the interest rate cuts of May and June.
Housing finance figures for July 2012 show, in trend terms, that the number of finance commitments has remained flat after six consecutive months of decreases.
In trend terms, increases were recorded in Victoria, Tasmania and the Northern Territory, however all other states and territories recorded decreases. The largest decrease was in Queensland (down 1% in trend terms) while the largest increase was in Tasmania (up 1.9% in trend terms.
Increases were evident for the construction of new dwellings (up 1% per cent in trend terms) and the number of commitments for the purchase of new dwellings (up 1.8% in trend terms). The commitments for the purchase of established dwellings fell by 0.2% (in trend terms).
The number of first-home buyers as a percentage of total owner-occupied housing commitments increased to 19.2% in July 2012, compared with 18.5% in June 2012. The long-run average proportion is 20.2%.
The value of investment housing commitments was also flat, in trend terms, in July after four consecutive months of declines.
These housing finance data figures indicate the RBA should have reduced interest rates again in September, as the market has not responded to the two previous cuts. With inflation within the RBA’s target zone and a more subdued international outlook, the message for next month’s RBA meeting is abundantly clear.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
</body></html>

pbennett-Zvm5u8EFas

RBA should have cut rates in September to boost housing market

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The time required to sell out a project is always critical. But along the way there will also be other milestones, which will include when and how a project is released to market.
For a major apartment development an important part of the marketing process, and possibly the central issue, is when and what apartment types are released for sale. In a project with say 250 apartments there will also be a wide diversity of apartments for sale with varied sizes, prices and configurations, and these will al influence the release program.
With small projects there is not this same diversity. While no two apartments are ever exactly the same, the marketing of a smaller project still needs to take into account how and when apartments are released for sale.
The marketing collateral may well have to address each of the apartments as “one-offs” to ensure that the sales path is supported with relevant information. When, for example, brochures are prepared, this is an opportunity to refine the creative content and show how different services and finishes are presented relevant to the scale of the project.
An essential goal is to ensure that one type of apartment is not sold out too soon or with a small project that one or two apartments are somehow seen as less than desirable because they take longer to sell. Apartment values and demand need to be managed across the project no matter how big or small. Demand, alongside detailed buyer feedback and sales rates, needs to be constantly monitored, discussed and where necessary the sales path adjusted.
In some examples this process can be very intense, for example during the first stage release of a new building, and in small buildings where release options might be limited, even more so.
In any project release there will be some highly desirable apartments that will always sell. This demand is hardly ever uniform and will vary with each project. A registrations-of-interest campaign might well indicate some valuable trends. This demand needs to be leveraged to the benefit of the entire project and in a small project capitalised upon during the early stages of marketing off the plan, ahead of construction. Because we are dealing with a small project there may well be an advantage and with changes that are easy to make across all apartments.
From the earliest stages of the marketing it is very desirable to maintain a detailed understanding of how different apartments are selling. Popular stock can if necessary be used to help encourage future sales. This is not suggested in an open-ended way, because in a small project sales volume will naturally be limited, but with planning the most popular apartments can play a critical part of the sales path and help to grow prices and encourage ongoing demand across the whole project.
One option would be to increase prices and hold some of the most popular apartments back to help make other stock more attractive to some buyers with more limited budgets. If the best (most popular) apartments in any project are sold and taken off the market during the early stages of the marketing, this can limit the ongoing appeal and flexibility of the project.
However time on the market must be carefully managed, as buyers will soon become sensitive to any apartments that are taking longer to sell than others, and when this happens to a number of apartments in a small building the entire sales path should be rigorously examined.
A final overview
My aim with these posts has been to talk about how a well-managed marketing campaign for a small project will help to unlock and sustain value. The market’s potential, timing and an insightful view of the target demographic are key factors.
But there is also a clear need to fully embrace and set priorities for the marketing and the sales path, because the highly efficient marketing tools that are now available will make a difference.
Budgets do not need to be excessive and it is important not to simply imitate what larger projects with their greater flexibility and resources might do. This is an area where experience and professional planning will help kick-start and then manage the best possible sales path. Which importantly gives all buyers what they need, and that is frequently highly focused support and information about the project. Above all small projects demand individual and well-managed marketing that can now leverage the best of online and traditional marketing.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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Timing is critical when marketing smaller residential developments

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Last week, Terry Ryder once again stressed the argument against issues of affordability, citing anyone seeing a “crisis in affordability needs to get back to the drawing board” and “stop wasting everyone’s time”. 
<a href="https://www.propertyobserver.com.au/residential/there-is-no-australian-housing-affordability-crisis-terry-ryder/2012090456393" target="_blank">According to Ryder</a>, we need do nothing to address housing affordability, and the only participants pushing prices higher are emotionally driven second-time buyers who get a little “wallet happy” when purchasing their dream homes.
Although Australia may still possess a good proportion of owner-occupiers to renters – enabling some in the industry to close their eyes to distress calls coming from the increasing numbers locked out altogether – both state and federal governments would be foolhardy to ignore the downward trend in ownership and the reducing pool of first-home buyers.
What may seem in some people’s eyes nothing more than a molehill on a well-trodden historical path is slowly threatening to evolve into a future generation’s mountain.  If we sit back today and tell everyone to “smell the roses”, we risk leaving our grandchildren to inherit a problem unable to be ignored, prevented or for that matter, fixed.
You don’t need to look far for the evidence.  With each census released the level of home ownership slides downwards, the numbers in mortgage stress or struggling to service rising yields increase, not to mention the astronomical rise in residents living in “rooming” accommodation – up fourfold since 2006.  It’s important not to dismiss the factors associated with the above trends because the growing problem – wherever you choose to lay the blame – is undeniable.
It would also be foolish to ignore – as some would have us do – lessons we can reap from the far larger housing crisis occurring in Europe and the USA. We have fared better for a number of reasons; however, this doesn’t dismiss the flaws associated with high levels of debt-financed ownership.
Australia still has a comparatively low number of mortgage defaults, however, the rising numbers suffering mortgage stress are enduring their own crisis trying to balance the family budget.  Once again this is broadly evidenced in ABS data – which goes to substantiate other data proving that housing is increasingly used as a buffer to meet welfare needs, with greater numbers dipping into the pot of reducing equity and reaching retirement whilst still servicing mortgage repayments.  Once again, you don’t need to look far for the evidence – I have cited the data in previous articles I’ve written for Property Observer. 
Should our economy go belly-up, there is little protection against the investment risks associated with this trend.  In such a circumstance, the precarious nature of the situation would be fully exposed and felt by a majority – not just the minority we’re being told to ignore.
Policies such as the first-home owners’ grant and negative gearing were put in place under the guise of aiding affordability and increasing the supply of rental accommodation.  However, based on the data above they are, to a large extent, failing to address either.  Proponents arguing that the first-home owners’ grant and subsequent GFC first-home owners’ boost did nothing to fuel an unprecedented boom of price growth during 2009 because it only applied to a minority show a degree of ignorance on the broad effects of market influences.
Certainly, first-home buyers are a minority; however an increased surge at the bottom of any market automatically spurs momentum across the buying landscape as a whole.  The snowball effect witnessed in 2009 was a result of the first-home owners’ boost stimulating a buzz of excitable market activity, along with unnaturally low interest rates, and a consequential jump in the average size of home loans across all price points.  In short – it was fuelled by an impulsive snowball of cheap credit.
It encouraged first-time buyers to rush in – many opted for new homes and off-the-plan developments, and they were given as much as $30,000 by the government for these purchases.  Consequently they purchased into a bubble, and as soon as the incentives ended, prices in the new estates plummeted.  These are the estates Ryder correctly points out to be comparatively affordable.  Of course they are – few want to live there unless there’s a large dangling carrot clouding the way.
I’m still coming into contact with vendors who – riding high on the wave of momentum – purchased into the sparsely facilitated fringe suburbs and four years later continue to fund a mortgage worth more than their principal place of residence.  They are essentially locked into an estate, sparse on amenities, unable to sell because buyers not buoyed by the momentum of a rising market and Mickey Mouse grants take the time to think before they buy. There is no activity to motivate growth or build a pool of equity, and consequently a proportion of vendors are well and truly stuck in their own housing nightmare.
 
<hr class="system-pagebreak">
 
The other minority argument citing investors as only being a small uninfluential 30% proportion of activity – is once again somewhat misleading and only applicable if you lump Australia’s entire investment market under one dismissive umbrella.  Price rises caused by this demographic occur because 93% of investor transactions are in the highly sought-after inner-suburban localities where most people need and want to live for work purposes.  Consequently, the number of renters servicing unprecedented yields in established capital city locations – up 49.2% over the previous five years – now frequently exceeds 50%.
Furthermore, Australia-wide, 58% of apartments are owned by investors. Break this data down to a state-by-state capital city level and the investor-owned percentage of inner-city apartments rises closer to 70% and in some states exceeds even this.  Apartments are broadly considered to be the stepping stone to enable first-home buyers to get an initial foothold. Therefore, investors and first-home buyers are generally targeting the same reducing pool of established stock.  Two minorities competing for the same properties, in the same areas, at the same price points and the problem no longer looks quite so “minor”.
This is by no way an argument to reduce the amount of investors Australia fosters, but rather reduce competition in established home buyer markets (something negative gearing in its current capacity fails to do) and encourage investment in outer-suburban and regional townships. In doing so, we not only increase the supply of affordable accommodation, but increase pressure to fund these regions with public infrastructure – most importantly, train lines and other essential community facilities that are vital to stimulate growth.
This was principally why the urban sprawl was successful back in the 1800s when Melbourne (a city ahead of others in this regard) was in the initial stages of outer-suburban development.  However, with the onset of the motor car in the 1950s it was all too easy to excuse the need to extend public transport systems further outwards and consequently, following a population boom, we’re now gridlocked with over congested inefficient transport arteries.  Regardless of whether people choose to commute by car or not, I have yet to meet one buyer who is happy being locked into a car-dependent lifestyle.
There is not one quick fix answer to the question of affordability or how to tackle very real and growing crisis. However, boxing it up under the guise of a “minority” or dismissing subsequent commentary as an exaggerated headline-grabbing indulgence would be overwhelmingly short-sighted and foolhardy.
For millions of existing owners, their future security is dependent on maintaining the value of their properties and utilising the existing pool of equity – however for a growing proportion of young and old Australians, the cost of accommodation is becoming unmanageable even on the average wage.
It’s a 21st-century quandary, and getting the balance right will take time and a number of long-term policy changes – however, the issue cannot be ignored.  A few months ago in April, the Australian Housing and Urban Research Institute published its own analysis of the crisis in a report – funded by the government – entitled Sustaining home ownership in the 21st century; emerging policy concerns In it the authors pose a number of possible solutions, citing:
“We believe there is clear evidence that home ownership will prove unsustainable for increasing numbers of Australians in the 21st century.”
I too believe there is clear evidence of a growing crisis in housing affordability – and it’s one that requires an attitudinal shift from the view that it’s simply limited to a “minority” market.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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Australia clearly has a growing affordability crisis

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Will China's growth pick up again? And will it continue to support both Australia and commercial property? Well, that really depends upon who it is you're asking.
Most miners are somewhat guarded; many journalists are painting a gloomy picture; and Labor politicians seem to be arguing among themselves.
So no wonder most of us are confused.
And whenever the general community is confused, it takes what seems to be the safest route and simply does nothing.
Let's peek behind the Chinese curtain
Perhaps the best place to begin is by talking with someone like leading architect Bruce Henderson, who is currently involved in designing major projects in Dilian, China.
He is right at the coalface — dealing with those making the decisions on Chinese future economic progress.
And his explanation of where things stand is alarmingly simple.
Unlike other major economic powerhouses, China only has one political player — the Communist Party.
The administration of that party changes every 10 years, and this is due to occur towards the end of this year. But more on that later.
The 10% to 13% annual growth in China (which required our iron ore and coal) has been driven by massive construction — mainly in new housing and infrastructure.
The government controls the release of available land, by selling long-term leases to developers.
Many of the recent massive housing projects have occurred by reclaiming farmland. (In other words, a 600-unit housing project may contain 100 government "pre-sales" to those rehoused farmers.)
Most of China's recent decline in growth (still at a healthy 8% per year) has occurred through the government's cut-back in granting new leases to developers.
With housing construction at a standstill, there is no income from land sales and the work for new roads, bridges and other infrastructure cannot proceed.
This is what has impacted adversely upon our mining sector.
Understanding the "Chinese logic"
Given that China only has one ruling political party, Communist leaders are solely concerned with image preservation.
Therefore, the outgoing administration has merely "responded to global pressure" and brought China's runaway growth under control — and in the process, orchestrated a soft landing.
When the new administration assumes control later this year, it will heap praise upon the outgoing administration for its "careful and prudent management of the economy".
The, the new administration will make itself look great by stimulating the economy, once again granting land leases for developers to recommence residential construction.
Now it all starts to make sense.
Unlike what you would find in Western countries, the incoming Chinese administration will not be "bagging" the outgoing administration.
Instead, its aim is to position both as having the country's best interests at heart — thereby, allowing the Communist Party to be the overall winner.
Bottom line: Right now, China is about to overtake the US as the world's leading economy.
However, next year (with the new administration in place), China's growth will again begin to surge. And this will not only flow through to Australia's economy, but also provide a welcome boost for overall global growth as well.
Therefore, as a commercial property investor, you can expect to see some solid gains through to 2018-19.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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What China's soft landing means for Australian commercial property investors: Chris Lang

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Since the onset of the global financial crisis in 2008, growth in capital city home values has been much more subdued.
Apart from the economic factors, the slowdown in capital gains can also be attributed to the fact that consumers have increased their level of savings and have subsequently reduced their levels of spending (particularly for housing).
Over the five years to August 2012, home values across the combined capital cities increased at an average annual rate of just 2.4%. Over recent years the rate of capital gains in the housing market has been slowing as the cost of purchasing a home has risen.
Breaking down the market performance into five-year increments highlights the recent slowdown in value growth. Between August 1997 and August 2002, capital city home values increased at an average annual rate of 12.0%.
This rate of growth slowed to 8.4%pa between August 2002 and August 2007 and has further slowed to 2.4%pa over the most recent five years. These results clearly show that as housing has become more expensive over time and since the onset of the GFC capital gains have significantly slowed.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/09/rpsept102.gif" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept102thumb.gif"></a>
Source: <a href="https://www.myrp.com.au/" target="_blank">RP Data</a>
In every capital city, average annual capital gains in the market have been stronger over the first five years of the past decade than they have been over the most recent five years. In fact, across each city except Sydney, the rate of average annual growth over the past five years has been less than half that of the previous five years. Further highlighting the slowdown is the fact that over the last decade, every city except Sydney recorded average annual capital gains of more than 6%, while over the past five years the best performing capital city, Darwin, has recorded average annual gains of just 4.6% per year. Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/09/rpsept1031.gif" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept103thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
The rate of inflation has been recorded at an average of 2.8% on an annual basis over the past five years. Given this, growth in home values over the past five years has been below the rate of inflation in Brisbane (0.2%pa), Adelaide (2.4%pa), Perth (-0.9% pa) and Hobart (-0.6%pa); while Sydney values have grown in line with inflation.
<img src="/images/stories/2012/09/capscombined.gif">
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
 
<hr class="system-pagebreak">
Across individual capital city housing markets, the table highlights the weaker market conditions prevalent across all capital cities over the past five years. For houses, capital gains have been lower over the most recent five years than the previous five years across each city. For the unit market, Sydney is the only city that has recorded a superior market performance over the past five years compared to the previous five years. Click to enlarge
 
<a rel="shadowbox" href="/images/stories/2012/09/rpsept104.gif" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept104thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
Over the past decade, Darwin and Perth have been the standout performers for capital gains for houses, with this trend largely fuelled by exceptional growth between August 2002 and August 2007. For units, Hobart and Darwin have been the standout performers over the decade with the exceptional growth once again fuelled by the performance over the first five years of the decade. Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/09/rpsept105.gif" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept105thumb.gif"></a>
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
Another important trend which has emerged over the past five years is the superior capital growth performance of units compared to that of houses. Across the combined capital cities, units have recorded average annual growth of 3.6% over the past five years compared to 2.2% growth annually for houses. Across individual capital cities, the unit market performance has outperformed that of detached houses over the past five years in Sydney, Melbourne, Brisbane, Perth and Hobart. This is most likely a response to affordability constraints present in the market and subsequently buyers seeking more affordable alternatives to detached houses.
This data highlights the significant increase in home values over recent years. The much more subdued growth in home values over the past five years is likely to be a better indication of how capital gains are likely to play out over the coming years rather than the exceptional value growth recorded over the first five years of the past decade.
Cameron Kusher is senior research analyst at <a target="_blank" href="https://www,myrp.com.au">RP Data</a>.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Residential property capital growth has stalled in five years since GFC: RP Data's Cameron Kusher

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The real estate industry is one of six sectors of the economy set for “short fuse, big bang” changes as a result of the digital revolution over the next few years, according to a new report by Deloitte.
The results, contained in Deloitte’s Digital Disruption white paper, will surprise many in the industry given the dominance of digital media already.
Deloitte estimates that the rental, hiring and real estate services sector is only using 52% of its digital potential and is set for another 22% of “digital disruption” over the next two to three years.
While the time frame for this change is relatively short, the disruption is relatively small compared to other "short fuse, big bang" sectors dealing with challenges from the online sphere – notably retailing and media.
Deloitte estimates that the biggest disruptions will occur in information, media and telecommunications (40%) followed by the retail trade (37%) and finance and insurance services (37%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/deloitte1.gif"><img src="/images/stories/2012/09/deloitte1thumb.gif"></a>
Source: Deloitte
Other sectors included in the “short fuse, big bang” that flow into the real estate sector are retailing and the finance sector, with retailing set to undergo a dramatic change in the next 12 months, as can be seen on Deloitte’s Digital Disruption Map, which plots the impact of the digital revolution against the time taken for it to occur.
Companies that stand to experience significant digital disruption within the next three years are said to be on a "short fuse", while companies that can expect to record a 15% to 50% change in their metrics, such as mix of revenue channels or cost structures, will experience a "big bang".
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/09/deloitte2.gif"><img src="/images/stories/2012/09/deloitte2thumb.gif"></a>
According to Deloitte, real estate, human resources, IT and finance are industries with significant administrative overheads.
But these and other administrative operations are being transformed by digital changes.
“Administration is one instance in which digital disruption moves beyond business-unit costs and offers opportunities for enterprise-level cost savings,” says Deloitte.
While Deloitte points out that in the retailing space, assets that should be reviewed are "bricks and mortar" facilities like bookstores, department stores, travel agents and DVD rental outlets, it says the impact on real estate extends well beyond retail.
“The ability to relocate labour nationally and internationally is reshaping the office market, the improved ability to telework is affecting residential markets, and changes to supply chains are driving major changes for providers of logistics and warehousing facilities.
“While some business categories will remain fairly protected – such as food court operators or health care providers, which retain a strong link to physical locations – there will be many others that find digital disruption radically changes their real estate needs and investment strategies.
“For instance, document storage companies are likely to be divesting physical space but investing in electronic storage capabilities and processes,” says Deloitte.
In the white paper, Deloitte identifies three broad strategies real estate firms and others can implement to respond to the “short fuse, big bang” disruption.  These are:
<ul>
<li>Recalibrating cost structures – making changes in terms of people, supply chain and overheads to better control costs and compete with digitally-powered, low-cost newcomers</li>
<li>Replenishing revenue streams– building new sources of revenue across segments,  geographies and business models as legacy streams dry up in the wake of digital disruption</li>
<li>Reshaping corporate strategies – reconsidering assets, risk and corporate agility to position the organisation for success in the increasingly digital world.</li>
</ul>
The report was compiled using official data sources say and what Deloitte believes will happen down the track based on its in-depth experience, judgement and market knowledge.
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'Short fuse, big bang' digital change coming to real estate sector: Deloitte

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Fairfield Chase Retail Centre, a Spencer Street property in Fairfield, NSW, with development approval for 119 units, has has passed in at auction on a vendor bid of $9.5 million.
Jones Lang LaSalle agent Anthony Bray is in further negotiations with a buyer. The asking price for the property is $10 million.
<img width="470" src="/images/stories/2012/09/fairfieldchase.jpg">
The centre currently earns $1,354,000 per year in rent, with 50% of that coming from the healthcare anchor tenant, which has a lease to 2018.
Along with the anchor tenant there are 22 others, including the Fairfield fruit market.
The building comes with development approval for two 76-metre residential towers with a total 119 one-bedroom, two-bedroom and three-bedroom apartments.
The site currently has 171 parking spaces, and the approved plans would add two further levels of parking for a total of 272 car spaces.
The Urbis-designed plans would involve the demolition of the existing retail centre to build a new medical centre, supermarket and specialty stores.
The plans were approved last year, so a new buyer would have four years before they lapse.
The shopping centre tenants are the subject of termination and/or relocation clauses, which agent Anthony Bray says provides flexibility for any buyers to realise the full development potential.
The 5,160-square-metre property is in the centre of Fairfield, nine kilometres south of Parramatta, between Spencer Street, Smart Street and Council Lane.
It went to auction on August 30.
Bray says properties like this are harder to come by.
“There are lot more properties like this being developed than there are approved.”
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NSW shopping centre Fairfield Chase passed in at auction short of its $10 million asking price

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Chinese property buyers have the potential to create top-end housing market momentum in key cities across the world, including Sydney, according to international real estate group Savills.
But not until Chinese currency and offshore investment rules are relaxed, says Savills global research director Yolande Barnes.
“Emerging markets, and Chinese buyers in particular, still have the potential to move other world city markets,” the report, Savills World Cities Review Index, suggests.
“The unleashing of high-net worth Chinese investor monies could boost London’s prime markets by 15% and the same must be true of other top cities, but this will require the relaxation of currency export controls and overseas ownership restrictions.”
Meanwhile China-based buyers have continued their acquisition of prestige Sydney property, the latest being a mainland Chinese family who've spent $9 million plus on Elysium (pictured below), a Hunters Hill waterfront, through Savills agent Adam Ross last month.
<img src="/images/stories/2012/09/elysium2.jpg">
The six-bedroom, five-bathroom Le Vesinet Drive, Pulpit Point, property on a 992-square-metre block has a Turkish steam bath.
<img src="/images/stories/2012/09/elysium1.jpg">
It was briefly listed for sale in 2005 with $10 million hopes. it was built in 2002 with its Sydney Harbour Bridge views in mind, with attention to detail paid to its design and construction. 
White marble floors greet guests in the grand entry vestibule, which leads to the elegant formal living and dining rooms and on to a covered terrace capturing north-easterly views. An opaque glass and timber door, framed by tall rosewood architraves, leads into the kitchen, where antique Chinese doors conceal a huge pantry. Next to the kitchen is a casual dining area that flows into an informal living room opening to another viewing terrace.
<img src="/images/stories/2012/09/elysium3.jpg">
The billionaire property and media tycoon Chau Chak Wing, who is an Australian citizen, <a href="https://www.propertyobserver.com.au/international/china-s-property-bubble-billionaires-getting-richer-but-face-government-cooling-efforts/2011090851473" target="_blank">has owned on the same street since paying $3 million </a>in 1995 to buy within the Comrealty-developed Pulpit Point estate.
<img src="/images/stories/2012/09/elysium4.jpg">
Sydney ranked among the international cities showing positive prestige price growth, although Hong Kong led the Savills World Cities Index for the first?half of 2012 with a price rise of?just over 7%.
<img src="/images/stories/2012/09/elysium5.jpg">
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td rowspan="2" valign="top" width="111">
CITY 
</td>
<td rowspan="2" valign="top" width="113">
Capital growth Jan-June 2012
</td>
<td rowspan="2" valign="top" width="113">
Capital growth
June-Dec 2011
</td>
<td rowspan="2" valign="top" width="94">
Capital growth since June 2005
</td>
<td colspan="2" valign="top" width="151">
Rank by capital value
</td>
</tr>
<tr>
<td valign="top" width="76">
June 2012
</td>
<td valign="top" width="76">
June 2005
</td>
</tr>
<tr>
<td valign="top" width="111">
Hong Kong
</td>
<td valign="top" width="113">
7.4%
</td>
<td valign="top" width="113">
-3.4%
</td>
<td valign="top" width="94">
105.9%
</td>
<td valign="top" width="76">
1
</td>
<td valign="top" width="76">
1
</td>
</tr>
<tr>
<td valign="top" width="111">
Moscow
</td>
<td valign="top" width="113">
5.5%
</td>
<td valign="top" width="113">
4.1%
</td>
<td valign="top" width="94">
113.5%
</td>
<td valign="top" width="76">
8
</td>
<td valign="top" width="76">
8
</td>
</tr>
<tr>
<td valign="top" width="111">
Sydney
</td>
<td valign="top" width="113">
3.7%
</td>
<td valign="top" width="113">
-2.0%
</td>
<td valign="top" width="94">
31.7%
</td>
<td valign="top" width="76">
9
</td>
<td valign="top" width="76">
6
</td>
</tr>
<tr>
<td valign="top" width="111">
London
</td>
<td valign="top" width="113">
2.8%
</td>
<td valign="top" width="113">
1.0%
</td>
<td valign="top" width="94">
34.7%
</td>
<td valign="top" width="76">
2
</td>
<td valign="top" width="76">
2
</td>
</tr>
<tr>
<td valign="top" width="111">
Singapore
</td>
<td valign="top" width="113">
1.5%
</td>
<td valign="top" width="113">
3.6%
</td>
<td valign="top" width="94">
110.3%
</td>
<td valign="top" width="76">
4
</td>
<td valign="top" width="76">
7
</td>
</tr>
<tr>
<td valign="top" width="111">
New York
</td>
<td valign="top" width="113">
1.1%
</td>
<td valign="top" width="113">
2.0%
</td>
<td valign="top" width="94">
10.5%
</td>
<td valign="top" width="76">
7
</td>
<td valign="top" width="76">
3
</td>
</tr>
<tr>
<td valign="top" width="111">
Tokyo
</td>
<td valign="top" width="113">
-0.3%
</td>
<td valign="top" width="113">
-0.2%
</td>
<td valign="top" width="94">
42.9%
</td>
<td valign="top" width="76">
3
</td>
<td valign="top" width="76">
5
</td>
</tr>
<tr>
<td valign="top" width="111">
Mumbai
</td>
<td valign="top" width="113">
-1.7%
</td>
<td valign="top" width="113">
0.0%
</td>
<td valign="top" width="94">
149.7%
</td>
<td valign="top" width="76">
10
</td>
<td valign="top" width="76">
10
</td>
</tr>
<tr>
<td valign="top" width="111">
Shanghai
</td>
<td valign="top" width="113">
-2.6%
</td>
<td valign="top" width="113">
0.1%
</td>
<td valign="top" width="94">
137.3%
</td>
<td valign="top" width="76">
6
</td>
<td valign="top" width="76">
9
</td>
</tr>
<tr>
<td valign="top" width="111">
Paris
</td>
<td valign="top" width="113">
-3.4%
</td>
<td valign="top" width="113">
4.4%
</td>
<td valign="top" width="94">
47.6%
</td>
<td valign="top" width="76">
5
</td>
<td valign="top" width="76">
4
</td>
</tr>
</tbody></table>
Source: Savills
 Sydney was up 3.7% in a period when the residential markets of the world’s leading cities had become more localised.
"The strongest price growth has been seen in those world cities that were buoyed by domestic demand, while international investor cash has retreated to a few core markets with established, long-term investment credentials," the report says.
Paris was the worst global city in the Savills index, with prices falling because of the ongoing eurozone crisis and proposed increases to taxes on high-end property and investor gains that followed the election of President François Hollande, who's set to impose taxes on the rich. 
"Paris is the biggest loser of 2012 and faces a period of uncertainty," the report notes, adding further price falls now seem unavoidable in the French capital. London is the potential beneficiary as international money seeks an alternative haven within the geography of Europe, but outside the eurozone.
London remains the second most expensive world-class market, but it too faces uncertainty regarding the impact of new stamp duty rules, announced in the March budget, which has already slowed activity and price growth at the top of the market.
"A period of flat prices now seems likely, though market fundamentals (high occupier demand and limited supply) favour growth longer term," the report notes.
Barnes says that New York is poised for a strong recovery with steady price growth, low mortgage rates, short supply and growing offshore demand.
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