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.

Joel Robinson

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

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

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?

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Listed property trust Dexus has announced the acquistion of two prime office acquisitions in the Brisbane and Sydney CBDs as its portfolio weighting in office assets increased to 70% over the course of 2012 financial year to June 30.
Dexus has acquired the 12 Creek Street office tower in the Brisbane CBD known as the “Blue Tower” due to its distinctive blue glass façade for $241.6 million.
The 34-level building, which was built in 1989, has 32,000 square metres of office space and was put up for sale by the Australian Property Growth Fund marketed by Bill Tucker and Rick Butler of CBRE and Geoff McIntyre and Ben McGrath from Jones Lang LaSalle.
Tenants include a number of resource and mining businesses including Esso Australia and BMA Coal as well as Optus, Macquarie Bank and the Reserve Bank of Australia.
Dexus is expecting mining and business services to drive demand growth in the medium term in the Brisbane CBD with the current vacancy rate of 8.3% expected to trend downwards.
Chief executive Darren Steinberg says Dexus is targeting an internal rate of return of 10.2% per annum over the next 10 years for the building, which has been significantly upgraded.
“We are increasing our presence in Brisbane which has favourable growth forecasts,” Steinberg said at today’s full results briefing.
The Blue Tower is only the second Brisbane office tower owned by Dexus.
It’s other Brisbane office holding is the 26-level 123 Albert Street building, which opened in October last year  with a six star Green Star energy rating.
It is more commonly known as the "Rio Tinto" tower with the mining giant leases 25,600 square metres of the total 37,000 square metres available in the building in a 10 year deal, which commenced with the opening of the building.
The 12 Creek Street acquisition means Dexus operates over 55,000 square metres of Brisbane office space - 10% of its office portfolio.
Dexus has also acquired 50 Carrington Street, a 19 level tower in the Sydney CBD, overlooking Wynyard Park with tenants including REST Super fund, Austral Mortgage Corporation and Goldberg lawyers.
Steinberg says the office tower, which was built in 1982 is a “well located boutique property” that it intends to refurbish.
Dexus is targeting an internal rate of return of 10.6% over the next three years and Steinberg says he is excited about the acquisition, with new leasings to be targeted at lawyers and accounting businesses.
Dexus expects demand for Sydney office space from the banking sector to be subdued in 2013 – Dexus has 52% of its office portfolio in Sydney covering 259,000 square metres of space.
Steinberg says that under the revised Dexus strategy, it will focus on “office sector leadership” and expects investors to gravitate to “quality real estate”.
“We will be the proxy for high quality Australian offices and aim to be the leading owner and manager of Australian offices,” he said.
Steinberg says the new strategy includes “keeping close to our tenants and have proactive approach to managing our tenants”.
“We are confident we can retain key tenants.”
Following the sale of the US portfolio, Steinberg says Dexus's offshore exposure is now considered “non-core”.
“We will focus on the core CBD office markets of Sydney, north Sydney, Brisbane, Melbourne and Perth.”
However, he says Dexus will not target specific percentage holdings in CBD markets, but will make acquisitions where it sees value.
Ross Du Vernet, Dexus head of strategy, transactions and research, says the growing divergence in views about global growth will impact on tenants' commitments to longer-term office leasings.
However, he says the view among Dexus's key office tenants is “not too bad” but they remain cautious.
Du Vernet says most CBD office markets are at equilibrium except for Perth, which is undersupplied, while the Melbourne market is oversupplied.
“Melbourne is the toughest, with Perth and Brisbane the best.
“Rental growth is expected to soften in Sydney due to the Barangaroo South project, but we still expect growth," says Du Vernet.
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Dexus acquires Brisbane’s “Blue Tower” as it sees office growth potential in Queensland capital

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Listed office and industrial property developer Dexus has recorded a sharp slump in full-year profits with a mixed outlook for both commercial sectors over the next two years.
Dexus reported annual statutory profits of $181.1 million for the 12 months to June 30, compared with profits for the previous period of $553 million – a fall of 67%.
Much of this was the result of Dexus recording a $117 million loss from the $770 million sale of its US property portfolio.
Delivering his first set of full-year results since replacing Victor Hoog Antink as chief executive at the end of March 2012, Darren Steinberg said the company expected to lift earnings per security by 1.3% to 7.75¢ in 2012-13.
He said Dexus was operating in a challenging and volatile environment with the focus on “actively managing the portfolio”.
Dexus increased the value of its office portfolio from $4.5 billion to $4.7 billion with an occupancy rate of 97% and completed 75,600 square metres of leasing deals.
New office leased completed during the year yielded average rental increases of 4.6%
The flagship <a href="https://www.propertyobserver.com.au/office/dexus-one-bligh-street-named-best-tall-building-in-australasia/2012061555133" target="_blank">One Bligh Street office tower </a>is now 90% leased, while another major project, 123 Albert Street in Brisbane, is 99% leased.
The value of the Dexus industrial portfolio increased from $1.6 billion to $1.7 billion with 300,000 square metres leased over the year.
Major Australian acquisitions over the course of the financial year included the $201.5 million acquisition of the 452 Flinders Street office tower in Melbourne via its third party funds management business.
<a href="https://www.propertyobserver.com.au/western-australia/government-employee-super-fund-to-buy-half-of-perth-office-tower-qv1/2011082551284" target="_blank">It also sold QV1</a>, the third tallest building Perth at 40 stories, for $310 million.
In total Dexus undertook $1.6 billion worth of property transactions involving 95 properties.
From the 2014 financial year, Dexus expects an improvement in tenant demand for office space in line with improved employment forecasts with the national vacancy rate to fall further in 2013.
It also expects an increase in demand for warehouse space in line with projected growth in imports.
Dexus expects the value of prime grade office and industrial properties to increase in value as yields tighten.
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Dexus reports 67% slump in profits, with mixed outlook for offices and warehouses

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Mining towns present the ultimate risk-return conundrum for property investors. 
They’re so hard for property investors to resist. They have the highest capital growth rates in Australia, and they have the highest rental returns. 
They also are the riskiest options for property investors. Mining towns are single-industry economies – sometimes single-employer economies – and are vulnerable to downturns in the lone industry. 
Over the past 10 years a typical suburb in an Australian city has averaged capital growth around 10% a year (thought certainly not in the past two years). The best suburbs in cities like Brisbane, Melbourne and Perth have averaged 14% or 15% – which is pretty good, because at those growth rates values are doubling every five years. 
But the best of the mining towns have capital growth averages double those growth rates. Both Moranbah and Dysart, coal-mining towns in Queensland, have recorded growth in their median house prices averaging more than 30% a year. So too has Newman, deep in the Pilbara region of Western Australia. The median price for Cloncurry in western Queensland rose 60% in the past 12 months. 
But the lure of the mining towns doesn’t end there. They also offer the highest rental yields in the nation. Many of them have double-digit rental returns. With the current surge in resources projects, particularly in Western Australia and Queensland, some mining towns can provide initial returns above 15%. 
But it’s never plain sailing with mining towns. They lack diversity, so their economic life is a roller coaster. Some also service the surrounding farming economy, but the high levels of prices and rents are based on demand created by the resources sector. 
This makes these locations highly vulnerable to downturns in the mining economy. When the global financial crisis struck in 2008, global demand for Australian resources fell. Miners downsized and in some cases shut down mining operations.
In coal-dependent towns like Dysart and Moura in Queensland, residential vacancies rapidly rose from near-zero to double digits. Gladstone, which has had four years of strong growth in house prices, had a 10% decrease in prices in 2009. 
The small WA communities of Ravensthorpe and Hopetoun were devastated when BHP Billiton shut down a $2 billion nickel mine that had been completed only months earlier – 1,800 people lost their jobs and property values fell. Hopetoun’s price performance since then has been a decline averaging 6% per year. 
More recently, we have seen mining companies refusing to rent properties in Moranbah over concerns about the high levels of house rents and upheaval in nearby Dysart followed the closure of the Norwich Park mine. Neither of these events is terminal to the towns’ investment prospects, but they demonstrate how uncertain property ownership can be in mining towns. 
Ultimately, an individual’s attitude to investing in mining towns, or not, depends on their objectives, risk profile and experience as an investor. 
It’s important for investors to understand their goals and to have a strategy for achieving them (it’s surprising how many don’t). Equally important is understanding their attitude to risk. If they prioritise safety and low risk, mining towns are not for them. 
For anyone starting out as an investor, mining towns are not a good option. They may provide big gains short term, but ultimately values may decrease sharply if a downturn occurs, such as the one that followed the onset of the GFC in 2008. 
On the other hand, experienced investors with substantial property portfolios may be happy to accept those risks within the context of a portfolio that has assets in safer locations.
Generally, investors wishing to safely exploit the rise of the resources sector should look at buying in regional centres that benefit from the mining upturn but are not dependent on it. 
Regional cities and towns such as Toowoomba and Mackay in Queensland, Geraldton in Western Australia, and Muswellbrook in New South Wales have diverse economies but also prosper when the mining sector is rising. These are safer options than mining towns.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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terryryder-YECXbqmri2

Regional centres provide some of the returns of mining towns – without all the risks: Terry Ryder

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A four-bedroom home in Curl Curl that has been thoroughly renovated will test the beachside market this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow" style="font-size: 14px;">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/2012/08/curlcurl.jpg">
Mike Dunn from McGrath Real Estate will looking for bidding in excess of $1.6 million when he auctions 8 Stirgess Avenue, Curl Curl, one of five Sydney properties going to auction this week in round 10 of the competition. The two-storey, four-bedroom and three-bathroom family home has been renovated from head to toe since it was purchased for $835,000 in 2002.
It’s a contemporary beachside haven, and the new owners’ hardest decision will be to decide between lazing by the pool or wandering down to the beach to catch a few waves.
If you think you know what it will sell for place a tip at <a rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">Property Tycoon</a>.
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marmstrong-sd3emVLPPb

Renovated beachside haven: Sydney auction tipping

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A family home in Camberwell should be well sought after when it goes to auction this weekend.
For those who want to have a harmless punt, there's now a tipping website, <a style="font-size: 14px;" rel="nofollow" href="https://www.propertytycoon.com.au/" target="_blank">www.propertytycoon.com.au</a>, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
One of the five Melbourne properties going to auction this week in round 10 of the competition is 32 Christowel Street, Camberwell, which has all the ingredients for the perfect family home. It is well located in the coveted Golf Links Estate and just a three iron away from Camberwell Junction, public transport, parks and schools. The four bedrooms, three bathrooms and 782-square-metre block of land are the icing on the cake and will make the property well sought after on Saturday.
The property last sold 12 years ago when it fetched $512,000, and Hamish Tostevin from Marshall White has suggested buyers will need between $1.7 million to $1.8 million if they are to call Christowel Street home.
<img src="/images/stories/2012/08/chrisdowel.jpg">
If you think you know what it will sell for place a tip at <a target="_blank" href="https://www.propertytycoon.com.au/" rel="nofollow">Property Tycoon</a>.
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Perfect family home in Camberwell: Melbourne auction tipping

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Returns for investors in green star-rated offices in the Sydney CBD were significantly higher than returns for the office market as a whole in 2011-12, according to IPD. 
Green star-rated offices secured returns of 12% for Sydney investors, compared with 9.2% for the office market as a whole.
Environmentally sustainable offices also outperformed the sector as a whole in Melboure, but the gap was narrower (11.9% vs 10.9%). 
However, in Perth the situation was reversed, with "green" offices returning 11.1%, compared with 14% for the office market as a whole. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/ipdaug153.gif"><img src="/images/stories/2012/08/ipdaug153thumb.gif"></a>
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Sydney and Melbourne green offices outperformed standard market in 2011-12: IPD

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<img src="/images/stories/2012/08/164m.gif">
How much listed real estate investment trust Charter Hall has agreed to pay to acquire Stockland Bay Village in Bateau Bay on the NSW Central Coast following an on-market expression-of-interest campaign managed by Colliers International. The shopping centre sold in line with book value. Colliers International’s Lachlan MacGillivray, who led the sales campaign with Heath Crampton, says it is the largest agency-negotiated sub-regional transaction for 2012. Stockland Bay Village, to be reverted to Bay Village Shopping Centre, is anchored by Woolworths, Coles, Kmart and Aldi, three mini-majors and more than 80 specialty stores and three pad sites. The shopping centre is situated on a prime 90,000-square-metre site, with a gross lettable area of 29,162 square metres and was expanded and refurbished by Stockland in 2005 and 2006.
 
<hr>
 
<img src="/images/stories/2012/08/150k.gif">
The price paid for a 40-square-metre strata office at 1 Queens Road on the Melbourne CBD fringe just off St Kilda Road. The office has $12,607 net income per annum and was sold by Gideon Marcus from Teska Carson Richmond. The existing tenant is reputably Melbourne's largest service office provider. The office is leased for two years with two further terms of one year.
 
<hr>
 
<img src="/images/stories/2012/08/4point75m.gif">
How much an undisclosed group from the national not-for-profit health sector paid for the The Edmondstone Motel, a three-star-rated accommodation asset at 24 Edmondstone Street, South Brisbane. The sale of the 21-room property was part-negotiated by Hiep Nguyen from First National Commercial.
 
<hr>
 
<img src="/images/stories/2012/08/2point675m.gif">
The price paid for a tenanted industrial warehouse in the Newcastle suburb of Mayfield West. The property at 3 Metal Pit Drive, Mayfield West, was marketed and sold by Ray White Commercial Newcastle Principal John Parnham on behalf of Newcastle developer ATB Morton. The warehouse is tenanted by workplace safety equipment supplier Protector Alsafe on a long-term lease. It was purchased post-auction by a consortium of local investors. The property is located in the Steel River Industrial Estate just 10 minutes from the Newcastle CBD and 15 minutes from the airport. The sale price reflected a net yield of 8.44%.
 
<hr>
<img src="/images/stories/2012/08/4point65m.gif">
The price paid in a private sale after auction for 5.6 hectares of freehold industrial land at 169 Australis Drive, Derrimut, in Melbourne’s outer west. The property was sold by Nathan Bingham and Stephen Newsham from Colliers International to a private developer. The vendor was Booth Transport. “The purchaser has acquired the land with the intention of opening the door for pre-lease opportunities," says Bingham. “The land will be developed as a major distribution centre within the next 12 months.”
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Commercial hammer prices: Charter Hall buys Stockland mall for $164 million

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<img src="/images/stories/2012/08/83214.gif">
The number of residential properties on the market in Queensland the week ending August 5, according to RP Data. Of these, 10,737 were listed in the last month. There were 84,127 total listings in the same week last year.
<hr>
<img src="/images/stories/2012/08/73794.gif">
The number of residential properties on the market in NSW the week ending August 5, according to RP Data. Of these, 11,543 were listed in the last month. There were 67,184 total listings in the same week last year.
 
<hr>
<img src="/images/stories/2012/08/66580.gif">
The number of residential properties on the market in Victoria the week ending August 5, according to RP Data. Of these, 10,056 were listed in the last month. There were 50,233 total listings in the same week last year.
 
<hr>
<img src="/images/stories/2012/08/31099.gif">
The number of residential properties on the market in Western Australia the week ending August 5, according to RP Data. Of these, 4,637 were listed in the last month. There were 4,637 total listings in the same week last year.
 
<hr>
<img src="/images/stories/2012/08/19237.gif">
The number of residential properties on the market in South Australia the week ending August 5, according to RP Data. Of these, 2,580 were listed in the last month. There were 17,035 total listings in the same week last year.
 
<img src="/images/stories/2012/08/11446.gif">
The number of residential properties on the market in Tasmania the week ending August 5, according to RP Data. Of these, 1,012 were listed in the last month. There were 9,451 total listings in the same week last year.
<hr>
<img src="/images/stories/2012/08/2106.gif">
The number of residential properties on the market in ACT the week ending August 5, according to RP Data. Of these, 515 were listed in the last month. There were 1,615 total listings in the same week last year.
 
<hr>
 
<img src="/images/stories/2012/08/1834.gif">
The number of residential properties on the market in Northern Territory the week ending August 5, according to RP Data. Of these, 354 were listed in the last month. There were 1,963 total listings in the same week last year.
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Canberra's residential listings up 30% in past year, plus state-by-state analysis: RP Data

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Against a backdrop of strong aggregate economic conditions, at least as measured by the latest National Accounts update, momentum in Australia's residential construction industry is still clearly heading in the wrong direction.
The latest national accounts figures show dwelling investment still detracting from Australia's economic growth. As a whole, residential dwelling investment fell over four consecutive quarters to be down by a significant 6.2% in the year to the March 2012 quarter.
New dwelling investment drove this result, falling over four consecutive quarters through to March this year. However, investment in alterations and additions (renovations) declined at an accelerating rate over three quarters to March. We will likely see in early September that dwelling investment declined further in the June 2012 quarter.
Ten of thousands of businesses in Australia, predominantly but by no means solely small businesses, rely on housing for their livelihood.
Housing also has a broad multiplier reach through to the wider economy in terms of activity and employment – into significant parts of the retail and manufacturing sectors, for example.
A weak residential construction industry therefore doesn't paint the Australian domestic economy in a favourable light, especially when you consider the basic product (and service) new housing provides – additional shelter for Australia's population.
In other words, housing is the provision of a necessary "good". However, supply is going backwards. Job losses in the sector are consequently mounting.
Right now, the new housing sector in Australia is experiencing its second recession in four years. Housing starts in the March 2012 quarter fell to their lowest annualised level since the new home building recession of 2000-01, considerably passing along the way the milder recession mark of 2008-09.
Despite what was an awful March quarter, leading housing indicators, poor weather conditions on the east coast, and a substantial problem with the new building act in Western Australia suggest housing starts weakened further in mid-2012.
So what's going on and what can be done about it? After all, it is clear to all those who can accurately count that Australia doesn't exactly suffer from an oversupply of housing. Some people point to the current weak demand for housing (which exists across new housing in all eight states and territories, renovations, and existing property transactions) as the reason, and that's part of it. Others point to seemingly intractable supply side constraints, and that's a big part of it. Those, such as the Reserve Bank, who recognise that both weak demand and high supply costs (i.e. excessive tax) are responsible for the parlous levels of new housing activity are spot on.
From the demand side, it is difficult to enjoy healthy levels of new home building activity when the household sector is cautious and nervous in the post-GFC world, as they travel down a deleveraging path that likely has some way to go.
There are a myriad factors driving weak household confidence. Historically low levels of household confidence is in turn having a clear negative impact on housing expenditure as opposed to household consumption, the latter of which appears in an aggregate sense to be very robust in 2012.
However, weak housing demand (including transactions of existing residential property, which are a driver of new home building activity and which are currently at historically low volumes), doesn't get you to the sub-140,000 mark for housing starts, which we are unfortunately again seeing in 2012. To get to that recessionary level, especially for the second time in four years and the third time in 12 years, you need to bring the supply side into the equation.
The cost (tax) of new housing is excessive, continues to increase, and is more transparent now in an environment of flat to easing existing property prices. Research conducted for the HIA by the Centre for International Economics (CIE) found that up to 44% of the final price of a house-and-land package is represented by federal, state and local taxes, with around half of these taxes described as “inefficient”.
The general equilibrium modeling of the taxation on housing conducted by The CIE showed that new housing is the second most heavily taxed of the 27 large sectors of the Australian economy. Where is the sense (or equity) in that?
New housing is a very efficient, competitive, dynamic sector of the Australian economy.
The most prominent recent example of this fact is the stimulus measures implemented to combat the GFC. Those policy measures directed at new housing were quickly reflected in increased housing employment, and in manufacturers turning casual employees into permanent employees and hiring new staff, well ahead of aggregate labour market conditions in Australia displaying signs of improvement.
The temporary tripling of the first-home owners' grant for new dwellings (often mistakenly lumped in with the doubling of the grant for existing property, even though the price outcomes were very different) was greeted aggressively by a very competitive sector that was facing a negative demand shock. The outcome was new homes to first-time buyers at a lower price than prior to the GFC. The social housing initiative, another GFC-related policy measure aimed at new housing, came in under budget.
However, a sector can be as competitive as a Bledisloe Cup match, but if up to 44% of the final product represents taxation, much of it inefficient, and the principal competitor – in this case existing property – is less heavily taxed, then intuituvely the end result won't be good. As the empirical evidence clearly demonstrates, the end result isn’t good and unfortunately it is being keenly felt by tens of thousands of businesses and well over 1 million labour market participants in the Australian economy.
As it stands, there are many reasons why new housing demand won't come roaring back. It will, however, recover. The lagged impact of lower interest rates will prove positive, for example, but the inherent cautiousness of households and the large, unfavorable gap between official rate reductions and what mortgagees (and businesses) have received, means an easing in monetary policy is no panacea.
Taxation reform is a key requirement to bolster confidence and lift activity.
The federal government could well do to reignite its appetite for leading by example in this regard. Meanwhile state (and territory) governments that have made a start, such as New South Wales, need to keep the foot down and those that have done little or nothing need to get on with it for the sake of wider domestic (non-mining) economic activity.
All the while, short-term investment in new housing is warranted to lift activity above the recession bar.
Well-constructed investment targeted at boosting new home building demand, through policies with a clear, short and finite timeframe, can lift new home building activity without spruiking final prices.
The cost of doing nothing now far exceeds the cost of implementing short term measures to complement a focus on wider policy reform aimed at creating a more efficient and equitable environment for new home building.
Harley Dale is chief economist at the <a href="https://hia.com.au/" target="_blank">Housing Industry Association.</a>
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Excessive taxes on the housing industry must be removed to stimulate growth

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David St Pierre, the former Westpac home finance manager and mortgage broker accused by Today Tonight of selling low-doc loans to elderly pensioners whose funds have seemingly ended up in an alleged investment scam, has been suspending by his broking firm 1300 Home Loans, which is investigating his activities.
John Kolenda, CEO of 1300 Home Loans, says St Pierre was suspending on Friday, August 10, ahead of the expose, which aired on Channel 7’s current affairs program on Monday 13 August.
St Pierre’s 1300 Home Loans page comes up with error messages, but a cached version is still visible.
<img src="/images/stories/2012/08/davidstpierre2.jpg">
“David St Pierre has been suspended pending a full investigation by ourselves,” Kolenda told Property Observer.
Kolenda says St Pierre held accreditations with all the major lenders in the country – mortgage brokers must be accredited with a lender to offer their home loans – and had left Westpac of his own accord.
St Pierre is also listed as a member of the Mortgage and Finance Association of Australia (MFAA) – the peak industry body representing mortgage brokers.
MFAA chief executive Phil Naylor says it is his understanding that St Pierre was not a mortgage broker at the time the alleged loans took place but joined the MFAA subsequently.
“However, in light of the allegations, our disciplinary process is investigating his situation,” he says.
Today Tonight claimed David St Pierre, a former loan manager who worked for 20 years at Westpac, facilitated pensioners and nursing home residents to take out 30-year loans for as much as $440,000 with their funds seemingly ending up in a property investment scheme that promised returns of 15% that allegedly then never got off the ground.
In a statement to Property Observer, Westpac said that a “number of people, including a small number of Westpac customers, appear to be the victims of a sophisticated scam and are suffering financial hardship as a result of borrowing to invest in the scam”. “Westpac is committed to providing appropriate compensation to those customers who have borrowed money from us and who have been the victims of the apparent scam. “We believe that the apparent scam was committed by individuals who were never connected with Westpac's business.   “The matter is presently before the police. “We are strongly encouraging all Westpac customers who believe they are victims of this apparent scam to lodge a formal complaint with the Police so that a full and proper investigation can be undertaken.
"The home finance manager who facilitated entry into the loans is no longer employed by Westpac."
Property Observer contacted David St Pierre for a comment but had not received a reply by the time of publishing.
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