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/2012/09/5point7percent.gif">
The median gross rental yield landlords are securing for units in Darwin, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $420,000 in August. 
 
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The median gross rental yield landlords are securing for units in Canberra, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $$414,500 in August.
 
<hr>
 
<img src="/images/stories/2012/09/5point5percent.gif">
The median gross rental yield landlords are securing for units in Brisbane, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $350,000 in August.
 
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<img src="/images/stories/2012/09/5percent.gif">
The median gross rental yield landlords are securing for units in Perth, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $395,000 in August.
 
<hr>
 
<img src="/images/stories/2012/09/4point9percent.gif">
The median gross rental yield landlords are securing for units in Brisbane, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $350,000 in August. 
<hr>
<img src="/images/stories/2012/09/4point7percent.gif">
The median gross rental yield landlords are securing for units in Adelaide, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $315,000 in August.
 
<hr>
 
<img src="/images/stories/2012/09/4point5percent.gif">
The median gross rental yield landlords are securing for units in Hobart, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $250,000 in August.
 
<hr>
<img src="/images/stories/2012/09/4point4percent.gif">
The median gross rental yield landlords are securing for units in Melborne, according to <a href="https://www.myrp.com.au/" target="_blank">RP Data.</a> The median unit price was $428,750 in August.
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Darwin landlords securing highest rental yields for units: RP Data state-by-state analysis

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The off-the-plan sale of 74 apartments in the Pacific Bondi Beach has been credited as Sydney's most successful post-global financial crisis apartment sales marketing campaign.
<img src="/images/stories/2012/09/pacificbondi.jpg">
The sales, which included $1.9 million for a 70-square-metre one-bedroom apartment, grossed $164 million.
Some speculators secured apartments as a long-term property option given construction will not be completed until November 2015 at the earliest. Exisiting hotel bookings at the Swiss-Grand Resort &amp; Spa mean construction won't begin until mid-2013.
The Campbell Parade apartments – to be developed by Eduard Litver of the Capit.el Group and Allen Linz of Rebel Property Group, who paid $135 million in 2007 – were launched simultaneously on the weekend in Sydney and Hong Kong, with 80% of sales eventuating in Sydney. Buyers were queuing half an hour before sales office doors opened at 8am Saturday morning ready to put down a deposit. The project was also launched at CBRE’s Hong Kong office, and 14 apartments were sold to Hong Kong-based buyers, who were mostly expatriate Australians.
<img src="/images/stories/2012/09/bondipac1.jpg">
The cheapest sale started at $575,000 for a 35-square-metre studio, with prices peaking at $10.3 million for one of the seven penthouses.
Price per square sales ranged from about $15,000 to $45,000, according to CBRE agent Ben Stewart.
CBRE chairman Justin Brown told News Ltd and Fairfax Media he was negotiating with a local empty-nesters for the $15 million penthouse, with hopes to secure the sale this week.
<img src="/images/stories/2012/09/bondipac2.jpg">
"It will break the Bondi record for in excess of $50,000 per square metre," Brown says.
It is one of four lighthouse penthouses that remain for sale.
<img src="/images/stories/2012/09/bondipac3.jpg">
Co-agent Steven Chen of McGrath says there were 3,000-plus inquiries leading up to its launch.
Ceiling heights will typically range between 2.7 metres and 3.1 metres, although some lower floor ceilings in the refurbished Swiss Grand complex will be 2.4 metres.
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Pacific Bondi Beach buyers riding the property wave through to the 2015 tide 

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Borrowers are inclined to use a mortgage broker because they can recommend products from as many as 30 different lenders, but according to Sydney mortgage broker Tony Harris, many brokers will only recommend loans from one or two of their favourite lenders.
Speaking as part of a recent Property Observer webinar, Harris says it is very important how borrowers go about selecting a mortgage broker.
Harris says one of the first questions borrowers ask is: “How many lenders can you recommend?”
But the answer they get can be something of a red herring as he let listeners in an a little-known industry secret.
“A lot of brokers have 25 to 30 lenders on their panel, but in reality they are probably only writing loans through two or three lenders,” says Harris.
“The reality is that some brokers are wedded to certain lenders over others because they are comfortable with them and they understand their loan criteria,” he says.
Under the ASIC-enforced credit regulations, brokers must also ensure that a loan is ‘”not unsuitable” by making reasonable enquiries about a borrower’s financial situation, as well as their requirements and objectives.
“So the first question is how many lenders can you recommend, but then the next question is how many loans have you written so far and how long have you been in the industry,” says Harris.
Harris says borrowers should quiz brokers about the different lenders on their panel.
“If you feel you may be missing out on a few lenders, quiz them more
“Ask them: ‘Why are you recommending this lender? What is it about them? Do they offer good service levels?’
“It’s OK if they have a favourite lender and can explain why, but make sure you drill down and ask those questions.
“If it is compelling reason and they are good answers, by all means go with that broker.”
Borrowers should also be aware that brokers are paid by lenders through an upfront commission of around 0.5% to 0.7% of the loan balance and recurring annual “trail” commission of between 0.15% and 0.2% of the loan balance until the loan is discharged.
Unscrupulous brokers might be tempted to recommend one lender over another because of better commission rates.
In addition, some lenders offer brokers the opportunity to earn bonus payments and other incentives by meeting certain performance metrics such as loan volume targets or if additional financial products such as insurance are taken up by a borrower.
Listed mortgage broker Mortgage Choice averages out the commission payments from all the lenders on its panel so that its loan writers are paid the same rate regardless of lender – eliminating the risk of a broker favouring one lender over the other for the wrong reasons.
This averaging out of commissions was highlighted as part of Mortgage Choice’s annual results presentation last month.
Harris also delved into the issue of brokers charging an upfront fee.
He says this has become more prevalent in the current slow credit growth, weak property market and tighter margin environment post the GFC.
But Harris says brokers that charge a fee need to offer more than just filling in a loan application form.
“They need to be able to hold your hand and guide you through the process.
“At the end of the day, you get what you pay for.
“If you can find a broker that does not charge a fee and can provide a great service that may be a great way to go as long as you believe they are going to do everything for you and not just recommend one or two lenders because they are their favourites.”
Harris also recommends that borrowers ensure the broker is a member of the Mortgage and Finance Association of Australia, the peak industry body representing mortgage brokers, which works closely with regulators ASIC and APRA.
ASIC provides a free broker licence check on the credit section of its website.
“A broker can have their licence under own name or company name or work under someone else’s licence,” says Harris.
For more tips from Tony Harris on using mortgage brokers and refinancing your mortgage, <a href="/news">watch the free Property Observer webinar</a>.
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Borrowers should shop around for best mortgage broker, not just the best loan: Broker

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Most Melbourne agents are slightly underquoting price expectations before auction, according to a Property Observer analysis of 220 Melbourne property auction results.
It showed 77% of properties sold for above the highest price indicated by the agent at auctions between July and early September this year.
Properties that sold above indications went for an average of 5% above expectations.
Of the 169 properties that sold above expectations, 28 properties or 16% sold for more than 10% above the highest estimated price indications.
The survey doesn’t include properties that passed in and sold later.
The above-estimate sales trend was most prevalent in the $600,000 to $1 million price bracket, where 83% of properties sold above agent expectations.
In the sub-$600,000 price bracket, 68% of properties sold for more than the pre-auction highest price indicated.
In the $1 million-plus price bracket, 80% of properties sold for more than the pre-auction highest price indicated.
Of the 220 properties analysed, just one sold for less than the price bracket indicated before auction.
The most notworthy case in Property Observer's survey was a two-bedroom house in Northcote that sold for 21% above the price indicated before auction. The agent was quoting $600,000 to $660,000 for the house, which eventually sold for $801,000 after enthusiatic bidding.
A four-bedroom house in Collingwood sold for 21% above the price indicated before auction. The agent quoted $860,000 to $950,000 for the house which eventually sold for $1.15 million.
The only property to sell for less than the pre-auction price indicated was a two-bedroom unit in Essendon. The agent was quoting $460,000 to $500,000 for the unit, which eventually sold for $442,000.
The auction data and price indications from the surveys were taken from data published by buyers' agents Antony Bucello and Catherine Cashmore of the National Property Buyers group.
The property auctions attended by the duo were generally chosen as high investment grade properties.
The auctions attended represent those deemed “cream of the crop properties” by National Property Buyers.
Cashmore says although the practice of under quiting is unpopular, it is hard to police.
"Buyers get very upset when properties sell in excess of a quoted range and often call for increased legislation.
"However, it’s a near impossible task to attempt to regulate the real estate sales industry to quote fairly for both vendor and purchaser," Cashmore says.
She says that  according to the Estate Agents Act in Victoria, agents are required to write an estimate of likely sale price on the sales authority.
"This can either be a single price, or 10% price range. This range doesn’t have to be the vendors'asking price or in instances where the vendors' asking price is unknown, reflective thereof."
"If an agent advertises the property under the bottom number of the estimated price range it’s regarded as underquoting. However, the agent’s price quote is a conservative appraisal of what the property can easily and comfortably achieve, not a guesstimate of what buyers might pay in the heat of an auction, or for that matter, the vendor’s wish price.
"The key during an auction is to watch when the property goes on the market – if the campaign along with vendor expectation has been managed effectively, it shouldn't be far from the price quoted.  However, the end number reached via bidding is largely out of the auctioneer's control."
Underquoting properties is a punishable offence – in May real estate agent Dean Anthony Johnson had his licence suspended for two months and was fined $5,000 for underquoting.
At the time Consumer Affairs Victoria director Dr Claire Noone said the laws were there to protect consumers.
“Buying a home is usually the biggest financial outlay in a person’s lifetime and laws are in place to protect consumers from misleading advertising and underquoting,” Noone told Fairfax.
‘‘Licensed estate agents should be aware of their obligations under the Act and the Australian Consumer Law in relation to advertising properties.”
Consumer Affairs Victoria guidelines on price advertising and underquoting for real estate salespeople says underquoting the likely selling price of a property in breach of the Australian Consumer Law and the Estate Agents Act 1980.
“These Acts prohibit salespeople from making representations about property prices that are false or misleading, or are likely to mislead or deceive,” the guidelines say.
The guidelines list a number of situations that they deem to be underquoting:
“Underquoting occurs when a salesperson:
•             advertises or advises a prospective buyer that a property is available for sale at an amount that is less than the vendor’s asking price or auction reserve price
•             advertises or advises a prospective buyer of a price that is less than the salesperson’s current estimate of the likely selling price
•             advertises or continues to advertise a price that is less than a genuine offer or expression of interest by a prospective buyer that the vendor refused
•             gives an inaccurate appraisal of the current market price of a property.”
"Under the ACL individuals making false and misleading representations regarding the price of a property can be fined up to $220,000 while corporations can be fined $1.1 million."
Cashmore says agents who don't suggest a somewhat low figure risk scaring potential bidders away from auctions.
"Selling agent know that to run a successful auction means attracting as many buyers as possible. The more buyers prepared to put their hand up at auction the better the result."
"No agent is going to risk 'over cooking' a property by quoting too high. It will always be placed – at the very least – a 'conservative' level.
"Whilst, I’m in full agreement of fair legislation outlawing deceitful advertising, and agree that price quotes which vary between agencies can be a ‘wishy-washy’ guideline in purchasers' eyes, buyers should not be misled into believing further legislation will change the sales process to work in their favour."
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Melbourne bullish auction sales typically selling at 5% above upper end estimate

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In most instances a quantity surveyor will conduct a property inspection when preparing a tax depreciation schedule. Sometimes this is not required, for example if a property has been built by the owner or the quantity surveyor has previously inspected a unit within the same complex. A good quantity surveyor knows when an inspection is not needed, and this generally results in a saving to the owner/investor. But if certain information is overlooked you will miss out on significant tax deductions. Below are the two main reasons why an inspection may not be required:
1. The quantity surveyor has inspected a unit within the complex before.
This is one of the more common reasons that a quantity surveyor will not need to inspect the property. As the quantity surveyor has been to the property before, the inspection on the common areas would have been completed, and he will apply their same information over the new unit, allowing for the new unit entitlement.
For example, if the unit is larger, the unit entitlement might be 110/10,000 instead of the unit entitlement of 100/10,000 that applied to the previously inspected property. The inspection would have also revealed the standard appliances through the property, the floor coverings, window furnishings light shades, etc. Many property investors take advantage of this situation to save around a third of the cost of a depreciation schedule. However, the saving must be accompanied by a firm understanding of whether preparing the report without an inspection is appropriate.
Your quantity surveyor should explain his rationale after asking a few questions about the property. For example:
<ul>
<li>Has the property had any additions or renovations? Two units side by side in a development may have been built identically, but have the owners differed in their property improvements? This is especially important in older developments, where the property may have had a new kitchen and bathroom installed by the previous owner. In this instance, the cost information is not available to the new owner. If improvements or renovations of this nature have been completed, the property should be individually inspected as the unit differs from the standard.</li>
<li>Are all units completed to the same standard? A one- or two-bedroom unit on the second floor might have a vastly different standard of finish to the penthouse or units on the upper floors. In this instance, a previous inspection on a lesser standard of unit cannot be used as the basis for a report on the units with premium fixtures and fittings. </li>
<li>Is the property furnished? If the property is furnished, the previous inspection needs to have been completed on a unit that was also furnished. Again, it's important that the furniture package is identical and that the furniture does not vary from unit to unit.</li>
</ul>
2. The property is brand-new and the report is prepared based on the plans and inclusions/specifications list. 
This is another of the more common reasons for a report to be prepared without an inspection. In this instance, the report is only as good as the level of detail contained within the plans. I've seen plans where the floor coverings are not completely specified and it's impossible to tell whether the living areas are carpet or tile. This may not sound important, but with tiles depreciating at 2.5% of their opening value each year compared with carpet at 20%, getting the measurements right equate  to a major difference in deductions. You'd also need to ensure that the specifications list contains enough detail to determine the type of appliances, rather than just the brand, most of the time this information is available.
There are a number of companies that provide for a “self-assessment”, schedule where you're undertaking the inspection yourself and sometimes even providing cost information. The ATO allows for this under the self-assessment rule, however these reports tend to attract greater scrutiny (for good reason) and both the Tax Practitioners Board and Australian Institute of Quantity Surveyors have acknowledge that they are not in favour of this type of report.
Property investors can certainly save on costs where their property does not require an inspection undertaken. However, ensure that your quantity surveyor explains the reasons in simple terms, lest you miss out on additional tax deductions.
Mike Mortlock is a director of <a href="https://www.mcgqs.com.au/">MCG Quantity Surveyors</a> specialising in tax depreciation deductions for property investors.
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When an inspection is required for a tax depreciation schedule

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A historic Parramatta bank has sold for $7.1 million to a Hong Kong-based investor.
The landmark Westpac Bank site in Church Street was first taken up by Bank of NSW in 1874.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/historic-westpac-parramatta-bank-listed-with-%2475-million-plus-hopes/2012072055674">The imposing sandstone building</a> on the site was built in 1938.
Agent Simon Staddon from Burgess Rawson Sydney says the sale is very strong given the nature of the lease.
“The price directly reflected the lease terms, which was to June 2015 plus option periods,” Staddon says.
“Investors can be nervous of option periods. That’s not to say the bank will move out, they probably won’t.
“If it was a new 10-year lease the yield would be a lot higher.”
The site is 100% leased to current tenant Westpac, which emerged from Bank of NSW in 1982.
The site earns a net income of $536,000 per annum plus GST. There are 2.5 years left on the lease with two five-year options.
“I’m of the opinion it was a very a good sale,” Staddon says.
The façade of the two-storey interwar stripped classical building is dominated by large ashlar sandstone columns, flanking timber four-panelled double doors.
Prior to and during its early life as a bank, the site was also operating as the Australian Arms Hotel.
After leasing for some years, the Bank of NSW acquired the two-storey inn, altered it and used it until 1938, when it was demolished and the current premises were built.
The land was originally granted to Governor Lachlan Macquarie’s superintendent of public works, Richard Rouse, in 1823. He built the Australian Arms Hotel in 1838.
The new building was designed by Spanish architectural firm Cosh and Dods, also responsible for Edwards Dunlop Building in Brisbane, Daily Telegraph Building in Sydney and St Brigid's Catholic Church at Red Hill.
The site now includes an adjacent three-storey modern building, bringing the total area to 1,275 square metres and includes on-site parking for up to nine cars.
Parramatta was established in 1788 and is the oldest inland European settlement in Australia.
The town was founded after the first fleet settlers built farms there to support the 1,000 convicts, soldiers and administrators. The site was the furthest navigable point on the Parramatta river, and the soil was deemed significantly better than that around Sydney Cove.
Growth in the area was minimal until the 1850s, when development was aided by the construction of a railway line. Then rapid expansion continued through the late 1800s, with Parramatta becoming a commercial hub for the western Sydney area.
Some of the most significant development in the city happened during the post-war years with industrial growth, immigration and the establishment of public housing estates.
The town is home to many of Australia's earliest colonial buildings, with more heritage-listed buildings in than Sydney's historic Rocks quarter.
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Historic Parramatta bank sells for $7.1 million

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Sustainable House Day is celebrating its 11th anniversary on September 9 across Australia.
More than 200 sustainably built homes will be open to the public.
“It provides a unique opportunity for people to meet with home owners who have ‘been there, done that’ and are able to provide unbiased advice, ideas and inspiration via their own personal experience,” says event organiser Pia Vogrin.
One <a href="https://www.smarthomefamily.com.au/sustainable-house-day-at-the-smart-home">open house in Newington</a>, NSW (pictured below), will show a waterless Australian native garden, trial the next generation of Sydney’s Smart Meters and provide recycling ideas like a Coke bottle bench.
<img src="/images/stories/2012/09/smarthome.jpg">
Councils are also having sustainable events like the Green Family Life Festival in Richmond, in Melbourne, to inspire families towards sustainability as well as market stalls and games for kids.
Each year the average Australian household contributes 13 tonnes of greenhouse gas to the atmosphere and uses an average of 73,000 buckets of water a year, the equivalent of 12 baths a day.
<a href="https://auses.org.au/" target="_blank">Australian Solar Energy Society</a> started <a target="_blank" href="https://www.sustainablehouseday.com/">Sustainable House Day</a> in 2001 to show the public they can save on energy bills while helping to save the environment.
“With the ever-increasing cost of living, sustainable solutions such as solar power systems can not only help reduce your emissions, but also wipe out your electricity bills,” says Nick Brass, co-owner of Energy Matters.
One of Sydney's open houses uses LED lighting as the norm in the timber House of the Future (pictured below).
<img src="/images/stories/2012/09/sustain.jpg">
The United Nations has established 2012 as the Year of Sustainable Energy.
The Subiaco Sustainable Demonstration House in western Perth (pictured below) was built to educate people and will be one of the leading open houses on Sustainability House Day. The house is designed for cost efficiency, passive solar principles, energy and water efficiency and adaptability for universal access. It is designed to suit diverse occupants and lifestyles.
<img src="/images/stories/2012/09/subisustain.jpg">
“Sustainable House day is all about action rather than words,” says Vogrin. “You can view an open house or search ideas online.”
Sustainable House Day has a <a href="https://www.sustainablehouseday.com/competitions.php" target="_blank">competition</a> to win one in three $1,000 Australian Ethical Managed Funds.
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Green homes to open to the public across Australia for Sustainable House Day's 11th anniversary

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Apartment building was the weakest performing construction sub-sector in August, as the Australian Industry Group (AIG) Australian Performance of Construction Index fell for the 27th consecutive month with no sign yet of a new financial year turnaround for the sector.
The index, compiled in conjunction with the Housing Industry Association, was down 0.4 points to 32.2 in August. Readings below 50 indicate a contraction in activity with the distance from 50 indicative of the strength of the decrease.
Survey respondents cited subdued conditions, a shortage of new tender opportunities, project delays and difficulty securing funding as impacting on growth.
Click to enlarge
<a href="/images/stories/2012/09/aigsept7.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/aigsept7thumb.gif"></a>
Source: AIG
In July, the index fell 2.2 points with AIG noting that the rate cuts in May and June had not spurred on any kind of rebound for the sector.
In August, apartment building was the weakest-performing sub-sector in the month – down 10.8 points to 22.1 – offsetting gains from the previous month.
Across the other sub-sectors, house building rose to 31.5 and commercial construction increased to 34, while engineering consecution fell to 35.7
The key new-orders sub-index fell 5.8 points to 28.8.
Commenting on the August results, AIG director of public policy Peter Burn said the continuing severe slump in residential and commercial construction was a drag on the overall economy.
“In August a weakening in the engineering construction sector contributed to a further worsening in the sector as a whole. Even though interest rates have fallen recently, the near-term outlook for the construction sector deteriorated with a further fall in new orders.
“The drop-off in new orders was particularly sharp for engineering construction and the apartment sub-sector," Burn said.
HIA chief economist Dr Harley Dale says that against a backdrop of five weak quarters for new dwelling investment, it is concerning that the first two index updates for 2012-13 “provide no sign of a turnaround”.
“The persistent weakness in the sub-indices for activity and new orders into the new financial year raises question marks as to whether we will see any tangible evidence of improved conditions in the construction industry by the December 2012 quarter. You would hope to be seeing a modest improvement by that quarter, but the odds of sighting that improvement appear to be lengthening," says Dale.
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Apartment building leads further contraction in construction sector in August

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Sydney developer the Barana Group has bought The Novotel Melbourne St Kilda for around $55 million following an international marketing campaign to sell the 211-room hotel.
The sale price reflects a yield of about 8%.
The hotel was put up for sale by Tourism Asset Holdings Limited in June and was marketed by CBRE Hotels’ Wayne Bunz and Mark Wizel.
Bunz told Property Observer in June that he was expecting it to sell for between $55 million and $60 million.
The Barana Group, led by chief executive Greg Shand, has added the hotel to its growing hospitality portfolio, which also includes Novotel in Melbourne at Glen Waverley.
“We’re investors in the hospitality space. That being said, we are primarily property investors, not necessarily just hotel investors,” Shand told the Australian Financial Review.
The Novotel Melbourne St Kilda is operated by Accor, the world’s biggest hotel and tourism group, and has a management agreement which still has nine years to run.
After that, vacant possession of the hotel will be available, “offering a myriad of future redevelopment options,” said CBRE in its marketing campaign.
Shand said the hotel was expected to be run as a passive hospitality investment for the term of the management agreement with Accor.
“Things may change, but if the hotel performs well, that’s what we’ll be doing.”
Wizel says the hotel was viewed by investors as an “attractive land banking opportunity”.
The Novotel St Kilda last sold in 2008 and before that changed hands for $21 million in 1992 in the aftermath of the early 1990s recession.
The recently refurbished hotel includes 211 rooms over six levels on a 5,791-square-metre site boasting 270-degree views of Port Phillip Bay.
The hotel is zoned residential 1 under the City of Port Phillip.
The hotel originally opened in 1991 as the St Moritz hotel, which became the Novotel Bayside in 1993 when Accor acquired the management rights and then Novotel St Kilda in 1999.
It was originally developed by Michael Lasky and Izzy Hertzog.
The hotel stands on the site of the St Moritz ice rink, which operated from 1939 to 1981, attracting more than 2000 people to its 1,850 square metres of ice.
The ice rink was destroyed by a fire in 1984.
The first building on the site was the Wattle Path Dance Saloon and Café, which opened in 1923.
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Novotel St Kilda snapped up by Greg Shand's Barana Group

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The 94 apartments in the $440 million Pacific Bondi Beach development (pictured below) are being brought to market tomorrow, with some 30% expected to be sold to investors.
<img src="/images/stories/2012/09/pacificbondi.jpg">
Eight-foot timber veneer surfboards have been sent to VIP customers as part of the preliminary marketing. Much has been made of Ben Quigley, a lifeguard on Channel Ten's reality series Bondi Rescue, having registered his interest in buying an apartment. 
<img src="/images/stories/2012/09/bondipac1.jpg">
The developer is Capit.el Group's director Eduard Litver in partnership with Allen Linz of Rebel Property Group.
The residential, hotel and retail project has been designed by Andrew Andersons of PTW Architects. 
<img src="/images/stories/2012/09/bondipacad.jpg">
Pacific Bondi Beach will comprise 94 apartments, a 69-apartment hotel and a two-level retail and restaurant complex.
Buyers have a choice of units starting from beach pad studios of 35 to 44 square metres starting at $550,000.
<img src="/images/stories/2012/09/bondipac2.jpg">
The priciest on offer are the three-bedroom-plus-study lighthouse penthouses, which range in size from 152 to 282 square metres. There have been four registrations of interest for the lighthouse apartments which are expected to sell for between $8.5 million and $14 million.
Prices range from about $14,000 non-view to $30,000-plus a square metre. 
The developers Allen Linz and Eduard Litver, who were also responsible for another upmarket block, The Bondi, have engaged three interior designers: SJB, Koichi Takada and PTW.
"Everyone recognises that this is very unique almost an entire block of the beachfront," says Allen Linz.
"It won't happen again in our lifetimes."
Its forecast weekly rents for studios are estimated at $600 to $700 for the studios, one-bedroom apartments between $850 and $1,200 and two-bedroom apartments from $950 to $1600.
The selling agents are Ben Stewart at CBRE and the head of projects at McGrath, Steven Chen.
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