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

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

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

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

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

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

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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

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

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<img src="/images/stories/2012/09/57k.gif">
The estimated annual rent hat Italian gelato operators Gelatissimo will pay to lease 89 square metres of premium retail space in Toowoomba’s central business district on a five-year deal. Gelatissimo has leased the former ‘Amazing Loans’ site on the prominent city corner of  Ruthven and Margaret streets in a deal negotiated by Ray White Commercial Toowoomba’s Mark Wynhoven and John Smith. Gelatissimo is spending $400,000 on renovating the site to cater for its new business. Gelatissimo dates back to the 1980s in Sydney, where the franchise began, and has it since then has grown to be one of the largest gelato franchises in the world, with established operators in south-east Asia, the Middle East and Italy.
 
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<img src="/images/stories/2012/09/450.gif">
The initial gross rentals per square metre per annum that two tenants will pay to lease space a National Trust-classified, boutique building at the northern end of the Sydney CBD. The remaining whole floors at 1 Barrack Street have now been fully leased in deals negotiated by Ray White Commercial office leasing directors John Skufris and Anthony Harris. Online advertising business Tribal Fusion has secured a 196-square-metre tenancy, and recruitment specialist Vantage Recruitment will occupy 200 square metres at level two. Both leases are on three-year terms. The three-storey building previously had media relations project group Cannings Corporate Communications as its major tenant.
 
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<img src="/images/stories/2012/09/415k.gif">
The annual net annual rental plus outgoings that products and services supplier to utility and energy organisations Utility Asset Management will pay on a sub-lease on Pellicano’s M2 Estate at Dandenong in Melbourne’s south-east. The 2 National Drive property comprises a 5,850-square-metre, office and warehouse building that had been purpose built for lessor Irwin Industrial Tools, which had decided to outsource its warehousing requirement. The leasing deal was negotiated by Savills director Lynton Williams.
 
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<img src="/images/stories/2012/09/100.gif">
The annual rent per square metre industry sources estimate Gold Coast business Wear Parts Australia will pay to lease 1,961-square-metre standalone industrial building at 20 Barnett Place in Molendinar on the Gold Coast. The five-year lease deal with a five-year option was negotiated by Pat Cavanagh of Colliers International. Wear Parts Australia has links to the mining industry, supplying component parts for large earthmoving equipment around Australia.
 
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<img src="/images/stories/2012/09/78k.gif">
The annual rent that Melbourne-based All Vehicle Accessories will pay to lease an 820-square-metre warehouse at 20a Lathe Street, Virginia, north of Brisbane The space has been leased for three years, with the deal negotiated by Steve Black from Ray White Commercial Pine Rivers.
 
<hr>
 
<img src="/images/stories/2012/09/69520.gif">
The gross annual rent that Micron Mining Components will pay to lease 1/33 Industry Court, Eagle Farm, Brisbane. The three-year lease was negotiated by Daniel Wilson of Ray White Industrial Milton.
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lschlesinger-FZcF9M3vE6

Commercial leasing: Gelato operator Gelatissimo leases in Toowoomba

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Were the RBA holding its monthly monetary policy meeting today rather than last week, it would have cut the cash rate, Business Spectator columnist and former Gillard government economist Stephen “The Kouk” Koukoulas has tweeted today.
<a href="https://twitter.com/thekouk" target="_blank"><img src="/images/stories/2012/09/kouktweet2.jpg"></a>
This tweet was preceded by:
<a href="https://twitter.com/thekouk" target="_blank"><img src="/images/stories/2012/09/kouktweet3.jpg"></a>
His contention that a more monetary stimulus is needed follows mining giants BHP Billiton and Xstrata announcing around 900 employees will lose their jobs, with BHP saying it will close its Gregory coking coal mine in Queensland on October 10, coming soon after its decision not to proceed with its Olympic Dam expansion project near Roxby Downs in South Australia.
Apart from the loss of mining, jobs, housing finance data for July released today shows that mortgage lending slumped 1% despite rate cuts in May and June – though economists still expect some bounce.
Koukoulas, along with the other 23 economics polled by Bloomberg a week before the September cash rate decision, were unanimous (and correct) in tipping rates to remain on hold – but he was one of only three economists to tip a rate cut in October in the same poll.
The other economists raising their heads above the parapet were AMP Capital Investors chief economist Shane Oliver and the Australian arm of French bank BNP Paribas’s senior Asia economist Dominic Bryant.
Shane Oliver himself tweeted today about the need for a rate cut:
<a href="https://twitter.com/ShaneOliverAMP" target="_blank"><img src="/images/stories/2012/09/olivertweet.jpg"></a>
The same three are again swimming against the tide in the latest September 7 Bloomberg survey – with the other 21 out of 24 economists polled tipping a rate hold when the Reserve Bank next meets on October 2.
In his September 6 “Insights” update Oliver said that in order to boost growth and guard against a slump, the RBA was likely to cut rates to 2.75% in the next six months.
“The bottom line is that interest rates are still too high and will need to fall further.
“The standard variable mortgage rate at 6.8% is just below its long-term average of 7.25%, but normally rates need to fall well below their long-term average to be con?dent of stronger growth.
“In an environment of household and business caution since the global ?nancial crisis, the neutral rate has likely fallen, probably to around 6.75% which would suggest that current mortgage rate levels are not stimulatory at all.”
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Stephen Koukoulas suggests urgent rate cut needed as mining jobs go: Tweet of the day

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The number of home loans approved for owner-occupiers fell 1% in July to 44,804 loans from 45,278 in June., according to the latest housing finance data released by the ABS today.
The monthly drop indicates that the RBA cash rate cuts of May and June have failed to stimulate the demand for new mortgages.
The fall in July home loan approvals was below the expectations of economists polled by Bloomberg last week, who expected no growth in mortgage approvals over July.
Total housing finance by value fell by 1.8%, seasonally adjusted, to $20.05 billion.
Westpac says the detail in the ABS figures reveal a "broadly flat result", with new lending (excluding refinancing) slipping 0.3% lower while refinancing fell by 2.4%.
"Lending for the purchase of new dwellings was down 6.8%, partially reversing an 8.9% rise last month. This segment (just 5% of the total) is volatile," writes Westpac.
"Finance for established dwellings rose 0.2% while finance for the construction of new dwellings continued to trend higher, pointing to an improvement in dwelling approvals. Finance to this segment rose 0.3% in the month, to be 10% higher than a year ago," says Westpac.
"Looking through the volatile seasonally adjusted growth since early 2011, this month’s data confirms housing market activity remains weighed down by weak home buyer sentiment and soft economic conditions in some parts of the economy," commented David Cannington and Dylan Eades from <personname>ANZ Research.</personname>
<personname></personname>"Countering weak housing sales activity, housing finance should be moderately supported in the coming months by the May and June RBA rate cuts," they added.
On a state-by-state basis, the number of owner-occupier housing finance approvals fell in New South Wales (down 346, or 2.7%), Queensland (down 165, or 2%), Victoria (down 159, or 1.3%), South Australia (down 31, or 1%),Tasmania (down 23, or 3.1%) and the Australian Capital Territory (down 20, or 2.7%), while rises were recorded in Western Australia (up 118, or 1.8%) and the Northern Territory (up 27, or 8%).
Westpac says the Queensland result is disappointing and the falls in NSW and Victoria  reflect changes to state government stamp duty and bonus payments, which points to the likelihood of a "July let-down effect". In original terms, the number of first-home buyer commitments as a percentage of total owner-occupied housing finance commitments rose to 19.2% in July 2012, from 18.5% in June 2012.
"First-home buyers are coming back to the market – although the profile has been distorted by changes to incentives. For the month, finance to FHBs rose 2.4%, to be up 19% on a year ago. Further gains are to be expected, as FHBs respond to improved housing affordability," says Westpac.
Between July 2012 and June 2012, the average loan size for first home buyers fell $600 to $291,400.
The average loan size for all owner-occupied housing commitments fell $1,100 to $300,500 for the same period.
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Home loan approvals fall 1% in July: ABS

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The Queensland government will tomorrow announce plans to scrap the $7,000 first-home owners' grant and replace it with a $15,000 handout only available for those first-home owners buying a new home.
The details of the changes to first-home owner handouts, leaked to the Courier Mail, will be announced by Queensland Treasurer Tim Nicholls tomorrow when he delivers the 2012-13 state budget at 2.30pm.
It is less than the $17,000 available to first-home owners buying or building a new home under the previous Bligh government, who were eligible for the $7,000 first-home owners'grant and the $10,000 Building Boost.
The Building Boost ended on April 30 (applications could be lodged up until August 30) and was available to all classes of buyers.
The Queensland changes mirror a similar move by the NSW state government in its June budget, which will mean the end of the $7,000 first-home owners’ grant on October 1, replaced by a $15,000 handout for those buying a new home, including homes bought off the plan.
The changes to Queensland first-home owner grants follows the decision by Queensland Premier Campbell Newman to <a target="_blank" href="https://www.propertyobserver.com.au/tax/queensland-to-introduce-owner-occupier-stamp-duty-cuts-from-july-1-as-other-state-schemes-come-to-an-end/2012062655289">reinstate the transfer duty home concession scheme from July 1.</a>
It 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.
The Real Estate Institute of Queensland (REIQ) expressed disappointment at the decision and warned that thousands of Queensland first-time property buyers might delay purchasing their first homes following the scrapping of the long-standing handout.
“REIQ analysis of Office of State Revenue (OSR) figures show only 24% of first home buyers opted to buy a new home when the First Home Owners Boost, which featured up to $21,000 for new-builds, was in play during the GFC,” says REIQ chief executive Anton Kardash
The REIQ expects the decision to remove the $7,000 grant in favour of a $15,000 grant for new homes will impact the majority of prospective first-home buyers.
‘‘The main reason for this is that new homes are usually too expensive for first-time buyers and are often located in outlying suburbs where young people do not necessarily want to live.
“New units and townhouses can also be more expensive than established and often have higher body corporate fees than older apartments.”
Kardash says the removal of the grant failed to take into consideration the complexity of the real estate market and comes as OSR figures show that over the June quarter more than 5,400 first-home owner grants were paid in Queensland, compared with 4,000 over the same period in 2011.
‘‘The first-home buyer segment of the market has been one of the few positives over recent times, so we are likely to see their level of activity decrease significantly once the grant is removed next month,’’ says Kardash.
Not surprisingly, the announcement was welcomed by residential developer Stockland, which described it as a “massive shot in the arm for the state economy” and one that would “underpin the future of the state’s housing industry” and provide thousands of jobs.
“We fully support the Newman government’s critical boost to the Queensland housing market – it is good news for the entire state because it will increase confidence, generate thousands of construction jobs, and bring home ownership within reach of more young Australians,” says Stockland Queensland general manager Kingsley Andrew.
“An extra $15,000 is a significant saving for first home buyers and coupled with no stamp duty, today’s announcement creates an unprecedented incentive from the Queensland government.”
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Queensland set to follow NSW by scrapping $7,000 first-home owners' grant in favour of $15,000 handout for new home buyers

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Divergent cash rate forecasts from the major banks are providing new or refinancing borrowers with little guidance in deciding whether to opt for a fixed-rate mortgage and insulate themselves against future rate rises or choose a variable-rate offering and benefit from lower monthly repayments if rates fall.
A third option – splitting the loan into part-fixed and part variable – is also something for borrowers to contemplate.
According to the latest Bloomberg survey of economists, the most bullish of the major banks is Westpac, led by chief economist Bill Evans, which expects another 75 basis points trimmed from the cash rate between now and March 2013 to a record low of 2.75% and then expects the cash rate to remain at that setting over the course of 2013.
“We retain our view that there will be two rate cuts in the December quarter followed by a further cut early in 2013,” said Evans last week following the RBA’s decision to leave the cash rate unchanged at 3.5% on September 4.
Most bearish is NAB, led by chief economists Alan Oster, which does not expect any more cash rate cuts in the current cycle, with the cash rate remaining at 3.5% for the first six months of 2013 and then rising to 4% by year-end.
ANZ, led by chief economist Warren Hogan, expects 50 basis points to be cut over the same period, taking the cash rate to 3%, and Hogan also expects it to remain unchanged over 2013.
“Overall, our views on the Australian policy outlook and economy are largely unchanged. We continue to expect the RBA to end up changing its mind about interest rates, probably by November,” said ANZ economists Ivan Colhoun and Justin Fabo last week.
The Commonwealth Bank, led by chief economist Michael Blythe, expects one more rate cut in the final quarter of 2012 based on downside risks “emanating from Europe and the global economy generally” taking the cash rate to 3.25%, where it is expected to remain over 2013.
The confused picture comes as lenders continue to cut their fixed-rate mortgages in an effort to entice cautious borrowers, with the <a href="/news">Commonwealth Bank the latest to trim its suite of fixed-rate offerings.</a>
In August Mortgage Choice reported <a target="_blank" href="/news">a marked jump in the proportion of borrowers who took out fixed-rate loans to nearly one in five</a> in the month and attributed this to attractive reduced rate offerings and a penchant for borrowers to be conservative in their choice of home loans.
A survey of Sunday Herald Sun financial commentators found them divided over which strategy – fixed or variable – borrowers should adopt, with the majority in favour of a split loan option.
According to Lisa Montgomery, CEO of mortgage lender Resi, while low fixed-rate mortgage offerings can seem attractive, borrowers should be aware of the hidden traps including huge costs if they break the contract – the government ban on exit fees only applies to variable-rate mortgages taken out after July 1, 2011.
Other traps in fixed-rate home loans – besides the obvious one of not benefiting from lower interest rates  should the cash rate fall – include not being able to pay down additional amounts and pay off the mortgage earlier.
But the benefits of a fixed-rate loan, says Montgomery, include peace of mind for budgeting, protection from rate fluctuations and rates now at five-year lows.
Aussie Home loans founder John Symonds, a long-time supporter of variable rates, says currently low fixed-rates would be very tempting to borrowers at the moment.
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Fixed versus variable mortgage conundrum for borrowers as major banks differ on 2013 cash rate outlook

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Most people who have any interest in the housing market will appreciate that the performance of home values can vary broadly based on a range of factors. Geographically, for example, we have seen Darwin values rise by more than 8% over the first eight months of the year, while Melbourne values have fallen by 2.6% over the same time frame.   Across the broad housing types there are differences as well, with unit markets generally showing stronger conditions compared with the detached housing market.
We are also seeing significant differences across price segments in the market, with the most expensive housing markets generally underperforming compared with the more affordable markets.  Across the combined capital cities, the most expensive 20% of suburbs have recorded fall of 8.5% since the market peak, compared with a 4% fall across the most affordable 20% of suburbs and a 4.4% fall across the broad middle 60% of suburbs.
Click to enlarge
<a href="/images/stories/2012/09/rpsept10.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept10thumb.gif"></a>
As can be seen from the graph above, the most expensive markets have outperformed the broader capital city average during the growth phases but underperformed during the corrections.  Over the past five years the annual rate of growth across the most expensive segment of the market has been just 1.7% per annum, compared with a growth rate of 2.9% per annum across the most affordably priced suburbs and 3.3% per annum across the broad middle-priced suburbs.
The trends across the price segments aren’t uniform across all of the capital cities.  Brisbane and Adelaide are showing the opposite performance, with the more expensive price segments of the market returning a better result for dwelling values compared with the more affordable priced suburbs.  This is interesting in the sense that Adelaide and Brisbane are also the most affordable mainland capital cities to be buying in (Adelaide’s median dwelling price is $371,500 and Brisbane’s is $405,000).  The weaker-performance in these markets can be linked with mortgage repayment pressures being felt across the mortgage belts of both these cities, particularly in south-east Queensland, where many of the most affordable suburbs in the region have shown a higher-than-average level of mortgage arrears.
Click to enlarge
<a href="/images/stories/2012/09/rpsept101.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/rpsept101thumb.gif"></a>
The performance across price segments highlights why it is so important to drill down below the capital city boundaries in order to truly understand housing market conditions.  Prospective home buyers and sellers should be looking at the dynamic of the housing market from a localised perspective ensuring they are in tune with market conditions at both the macro and micro level.  There are bound to be significant differences in how markets are performing.
Tim Lawless is national research director of <a target="_blank" href="https://www.myrp.com.au/" rel="nofollow">RP Data.</a>
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tlawless-5VLUrbAk9s

Affordable end of the property market outperforming top end of town

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Last week the Commonwealth Bank cut its suite of fixed-rate mortgage products to appeal to those borrowers looking for certainty as the future direction of interest rates remains unclear.
The Commonwealth Bank now offers the lowest one-year, three-year, four-year and five-year home loan rates of the major banks, while NAB offers the lowest two-year fixed rate loan and ANZ the lowest 10-year fixed rate home loan.
Collectively the major banks account for around 80% of all new mortgage lending.
Here’s a guide to the advertised fixed and variable mortgage rates of the Commonwealth Bank and the other three major banks – NAB, Westpac and ANZ:
Rates correct as of September 10:
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" width="123">
CBA
</td>
<td valign="top" width="123">
ANZ
</td>
<td valign="top" width="123">
NAB
</td>
<td valign="top" width="123">
Westpac
</td>
</tr>
<tr>
<td valign="top" width="123">
Standard variable
</td>
<td valign="top" width="123">
6.80%
</td>
<td valign="top" width="123">
6.80%
</td>
<td valign="top" width="123">
6.78%
</td>
<td valign="top" width="123">
6.89%
</td>
</tr>
<tr>
<td valign="top" width="123">
One-year fixed
</td>
<td valign="top" width="123">
5.74%
</td>
<td valign="top" width="123">
5.84%
</td>
<td valign="top" width="123">
5.79%
</td>
<td valign="top" width="123">
6.09%
</td>
</tr>
<tr>
<td valign="top" width="123">
Two-year fixed
</td>
<td valign="top" width="123">
5.74%
</td>
<td valign="top" width="123">
5.94%
</td>
<td valign="top" width="123">
5.69%
</td>
<td valign="top" width="123">
6.09%
</td>
</tr>
<tr>
<td valign="top" width="123">
Three-year fixed
</td>
<td valign="top" width="123">
5.74%
</td>
<td valign="top" width="123">
5.94%
</td>
<td valign="top" width="123">
5.89%
</td>
<td valign="top" width="123">
5.89%
</td>
</tr>
<tr>
<td valign="top" width="123">
Four-year fixed
</td>
<td valign="top" width="123">
6.14%
</td>
<td valign="top" width="123">
6.44%
</td>
<td valign="top" width="123">
6.39%
</td>
<td valign="top" width="123">
6.69%
</td>
</tr>
<tr>
<td valign="top" width="123">
Five-year fixed
</td>
<td valign="top" width="123">
6.14%
</td>
<td valign="top" width="123">
6.54%
</td>
<td valign="top" width="123">
6.49%
</td>
<td valign="top" width="123">
6.19%
</td>
</tr>
<tr>
<td valign="top" width="123">
10-year fixed
</td>
<td valign="top" width="123">
7.74%
</td>
<td valign="top" width="123">
7.69%
</td>
<td valign="top" width="123">
8.09%
</td>
<td valign="top" width="123">
7.99%
</td>
</tr>
</tbody></table>
Source: Websites of ANZ, Commonwealth Bank, Westpac and NAB
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Fixed or variable: What mortgage interest rates the major banks are offering borrowers

<html><body>Australian Property Monitors (APM) has released a list of results from 277 auctions in Sydney for the weekend of September 8. The clearance rate was 60.6%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 277 Sydney auction results show 60.6% clearance rate

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Acclaimed for its eclectic European-styled interiors amid lush gardens with sweeping ocean views, Rae's on Wategos Beach at Byron Bay has been put on the market for the first time in 20 years.

It's been listed by the entrepreneur Vincent Rae.
Located on a prized 1,049-square-metre beachfront Marine Parade block, the property is set for October 26 auction through Ray White Hotels agents Tony Bargwanna and Andrew Jolliffe in conjunction with Gerald Delany of Kay &amp; Burton in Melbourne. The agents have declined to give any indicative pricing.
The agents expect interest from hoteliers, but it would mostly likely attract considerable residential buyer interest. There is recent approval for a new underground car park, cocktail bar, lift, sub penthouse, spa area and a 200 square metre entertaining terrace.
It charges between $600 to $1380 a night.
Rae's is opposite the 1,406-square-metre record-setting holding bought by property developer Danny Goldberg for $15.68 million in boomtime 2006.
{yoogallery src=[images/stories/april26watermark]}
Marine Parade's most recent beachfront sale has been the<a href="https://www.propertyobserver.com.au/new-south-wales/watermark-at-wategos-beach-sells-five-years-after-initial-listing-for-just-shy-of-%2410-million/2012042654431" target="_blank"> Watermark at Wategos</a> (pictured above), a duplex apartment building on a 656-square-metre block, which sold quietly earlier this year for $9 million through Graham Dunn of Byron Bay Property Sales to David Knappick, who made his fortune from his shareholding in Felix Resources.
Rae's guesthouse was built by Ruth Harris who established a restaurant there called Argentine Ant Cantina and then La Belle Epoque, neither of which were especially successful although Liberace did play the piano at the then French medieval-styled mansion around which Salvador Dalí had a hand in its early 1970s tropical garden design, presumably a sketch or two done from afar.
Wanting $2 million at its June 1994 auction, Harris later sold for $1,375,000 in 1994 to Rae, who developed it into an iconic luxury retreat once rated by Conde Nast Traveler magazine in its "Top 25 Hotels in the World" in 1997.
Over the years its guests have included Richard Branson, Harvey Keitel, Gwyneth Paltrow, Kate Winslet, Tom Cruise, Meg Ryan, Russell Crowe, Keith Richards, Pink, Elle Macpherson and Nicole Kidman.
Rae says that at 50 he's ready to move on.
"I've had a lot of interest over years but I've never wanted to sell," he told News Ltd.
"I've had discussions with Richard Branson over the last year or two, he loves the place.
"You would love to think it will continue on. She is a great old dame, that building.
"But at the end of the day I'm looking for the best result, and if a Packer came in and wanted to pay top money and turn it into a house I could walk away with a smile on my face."
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jchancellor-FAypfDUnLy

Eclectic Rae's for sale as coal tycoon David Knappick picks up Watermark at Wategos

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In the 30 years or so that I’ve been running businesses, I’ve noticed that consumer sentiment is often created by a cultural environment rather than what is actually happening in folks’ lives.
This can work in favour of over-exuberance, or it can create gloom. We’re currently in one of the negative phases, but there’s another way to treat the “bad” economic news, and that is to see a free market economy as something that forces the constant reinvention of just about everything.
I’ve been watching the financial troubles of the Darrell Lea chocolate and lolly brand, which has been in administration. Letting go 418 people is not a good thing, however the system works well enough for a new owner to step in and buy Darrell Lea and reinvent what that business does.
The signs of positives defying the negatives are all around us. Yes, Kodak went out of business, but other companies have reinvented personal photography with affordable, high-quality cameras that don’t require film. And Australian steel-making may be under pressure, but there was OneSteel, quietly making itself a miner of iron ore, not letting itself be forced into irrelevance.
Australian business owners and householders can train themselves to think this way as well. There is a way forward out of adversity: you just haven’t found it yet. It could be as simple as rethinking what you sell. The ability to up-skill, find another job, reinvent yourself as a different proposition to an employer, has never been better.
Take the uncertainty created by the European crisis and the US slowdown. It has played on our minds and held back our own economy, but one of the benefits has been a cash rate that – at 3.5% – is in the lowest range of the past 20 years.
How good is this? Ask any baby boomer who was paying 19% on their first mortgage.
There are many people suffering right now, but I urge people to have a look behind some of the negative economic stories: inflation ran at around 1.2% for the year to June, and the wage price index was sitting at 3.6%. So wages are increasing at a greater rate that inflation.
That isn’t bad, especially taken with a low unemployment rate of 5.2% in July. Compare it with the United States at 8.3%, or the EU at 10.4% unemployment in July.
And in a country where we all need a car, they are more affordable than they’ve been for a long time. A Ford Falcon in 1960 cost a man 60 weeks’ pay, while in 2012 it cost 30 weeks’ average male pay.
The economy will cause more businesses to close or to contract. But the important part is: what happens next? And in your own life, are you keeping your eyes open, preparing yourself for what happens next?
A market economy always provides the chance to start again. What’s your reinvention?
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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