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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Michelle Hutchison, spokesperson for mortgage comparison website RateCity.com.au, warns consumers to be wary of "questionable" mortgage offers:
<a target="_blank" href="https://twitter.com/#!/search/%20%E2%80%8F%40shellRateCity"><img src="/images/stories/2012/08/michelletweet.jpg"></a>
 
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RateCity.com.au’s Michelle Hutchison delivers home loan warning: Tweet of the Day

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The number of NAB mortgages with off-set accounts has almost doubled in the last two years, the bank has revealed as it reported a strong performance from its personal banking division, but an overall disappointing profit result in its third-quarter update.
NAB reported profit in the three months to June 30 of $1.4 billion, unchanged from what it reported for the same period a year ago and below analysts’ expectations of $1.5 billion. NAB currently also has the lowest standard variable mortgage rate of its big four rivals and has pledged to keep it the lowest over 2012.
Money held in an off-set account is deducted from the principal owed, allowing borrowers to reduce their interest payments and the length of their loan repayment period.
Property Observer reported last week that in the 17 months since it kicked off its “break-up” campaign on Valentine’s Day last year, <a href="/news">NAB had steamed ahead </a>of its big four rivals in providing home loans for owner-occupiers based on the APRA figures.
Fairfax Media banking writer Eric Johnston noted that NAB's growth in its mortgage book faster than its rivals had been  “helped by its strategy of discounting loans”, with expansion of its mortgage book is currently running at 1.3 times growth in the broader market. While the overall profit result was disappointing, personal banking, which includes mortgage lending, produced a strong result, “benefiting from good growth in revenue and seasonally lower charges for bad and doubtful debts (B&amp;DDs)".
NAB delivered a stable result for the quarter and made further ground against its strategic agenda to strengthen the Australian franchise, which has been the Group’s unwavering focus since 2009”, National Australia Bank Group chief executive Cameron Clyne said today.
“This quarter’s result is set against a backdrop of ongoing challenges in the global economy with continued uncertainty in the Euro-zone and the United States, volatility in global financial markets, and slowing growth in the big emerging economies. Although subdued business and consumer confidence continue to affect the Australian economy, we remain positive about the outlook," Clyne said.
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Mortgage off-set accounts double at NAB but profits disappoint in third-quarter update

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The receivers and managers of Provident Capital have told debenture holders they are hopeful of restarting the flow of payments in the next few months, but they should not expect a full refund of their investments.
An information session for debenture holders was held by receivers and managers of Provident, PPB Advisory, yesterday in Sydney - telecast to Melbourne, Brisbane, Adelaide and Perth.
It was attended by around 120 mainly small investors in Sydney – many of them pensioners who rely on small interest payments of around $300 per month to supplement their pensions.
They have not received a payment in over two months.
Joint receiver and manager Phil Carter from PPB Advisory told Property Observer loans in the fixed-term interest portfolio have a face value of $108 million while Bendigo Bank also lent $70 million to Provident to fund lending.
Bendigo Bank is the first-ranking creditor and must be repaid its $70 million first before the receivers can start paying money back to debenture holders.
Under current projection, based on the best-case scenario of loans being repaid as they fall due, PBB Advisory would begin to restart payments to debenture holders around Christmas time.
Click to enlarge
<a href="/images/stories/2012/08/providentaug141.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/providentaug141thumb.jpg"></a>
However, Carter says PPB Advisory will be looking to speed up the process as much as possible to start payments earlier.
PPB Advisory has also delayed taking any fees until such time as debenture holders start receiving payments, while Bendigo Bank has agreed to allowing PPB Advisory to act as "de facto" on itsloan portfolio, thereby avoiding a duplication of receivers' fees.
Carter says when PPB Advisory was appointed on July 3 it found the fixed-term interest account in a “mess”.
The Bendigo Bank portfolio is a lot healthier because Provident loaned under the prudential oversight of the bank, which among other things placed limits on loan sizes (a maximum of $2.5 million).
However, Carter says Provident acted as lender of last resort when it came to using funds from debenture holder funding 42 loans, which have a principal balance outstanding of $108 million.
Of this $108 million, $100 million of loans are in arrears.
“Of the 42 loans funded from the fixed-term interest fund, 19 were already in mortgage in possession when we walked in 3 July,” Carter says.
Seven of the largest loans ($5 million or more) account for nearly 60% of the portfolio, and all are mortgagee-in-possession.
“They are in a variety of states, some are holes in the grounds, some have development applications that have expired,” says Carter.
The biggest loan of $22.4 million is for a Queensland development, for which Provident has been mortgagee-in-possession for four years.
Provident was also mortgagee-in-possession for at least 18 months or more on all the $5 million-plus loans.
Analysis by PPB Advisory suggests properties securing three of the five largest loans in the fixed-term interest porfolio likely to be downgraded further.
Click to enlarge
<a href="/images/stories/2012/08/providentaug142.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/providentaug142thumb.jpg"></a>
At the information session, PPB Advisory said it would start preparing a monthly dashboard style report on its website to keep individual debenture holders informed of updated information, "including forecast distributions in the next three months, distributions to date, a snapshot of the outstanding portfolio, and other relevant matters".
It expects to hold a further update meeting with debenture holders later this year.
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Provident receivers hopeful of restarting debenture payment by Christmas

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British fashion giant Topshop is set for a new store at Highpoint Shopping Centre in early 2013. 
The Highpoint location is the second Melbourne store for the iconic British brand, with its other Melbourne outlet on the <a href="https://www.propertyobserver.com.au/victoria/jam-factory-set-for-%2416-million-makeover-as-topshop-moves-in/2011081851210" target="_blank">Chapel Street strip in South Yarra. </a>
GPT Group announced the leasing deal in its half-year results presentation yesterday. 
“Topshop’s ability to deliver new, designer-inspired look to shelves within weeks of making their catwalk debut is something that will certainly strike a chord with our customers,” Matthew Faddy, head of asset management at GPT, says. 
The Topshop/Topman co-location store in South Yarra opened in December last year, and the brand’s first Sydney store<a href="https://www.propertyobserver.com.au/news/fashion-retailer-topshop-topman-to-open-in-sydneys-historic-gowings-building/2012062655281" target="_blank"> is set to open in October in the iconic Gowings building in the CBD</a> after a $1.85 million fit-out. 
Topshop is wholly owned by Phillip Green from the Arcadia Group and first existed in the basement of a Peter Robinson department store in 1964. 
The first stand-alone Topshop opened in 1974, and the brand has now expanded to a whopping 750-plus stores across 32 countries. 
The flagship store located in Oxford Circus, London, attracts more than 200,000 shoppers a week. 
Topman was created as a spin-off to cater for male customers and is run as a separate chain, although some stores are co-located, including South Yarra’s Topshop/Topman. 
It is an exciting time for Melbourne and Sydney residents, who previously had to purchase collections and outfits online. 
The online store topshop.com began in 2000 updating the clothes straight off American and British catwalks that have not yet landed in Australian stores. 
Topshop is not the only offshore brand to make its mark in Australia, with international brand ZARA recently opening its second Melbourne store on Bourke Street (the brand had an outlet in Chadstone), along with its Pitt Street mall, Sydney, outlet. 
Fashion giants H&amp;M and Forever 21 are also rumoured to be scouting locations Down Under.
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Topshop set for second Melbourne store as fast fashion retailers expand Down Under

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There has been much debate recently about the health of the retail sector.
Needing to constantly have everything "on sale" has certainly shrunk everyone's margins. But overall, sales volumes have languished.
Yet, maybe there is some light at the end of the tunnel. The ABS just reported that retail sales increased by 1% during June, following a 0.8% rise in May.
And department store sales jumped by 3.4% during June — the largest increase in more than a year.
However, as you can see from the graph, the most recent surges in retail activity have also followed directly after generous government handouts.
<img src="/images/stories/2012/08/langaug141.jpg">
Source: <a target="_blank" href="https://www.afr.com/">Australian Financial Review</a>
The golden era
Clearly, retail's golden era is somewhere in the past. In fact, the BIS Shrapnel recently forecast retail sales growth of 2.9% per annum over the next five years. And you only need to compare that with around 5% per annum before the GFC.
Add this to the strong incursion being made by online retailing, and you start to realise the retail sector (as a whole) is looking somewhat fragile.
In fact, Moody's rating agency has recently indicated that the credit standing on major Australian shopping centre owners is a risk.
Moody's considers that low vacancy rates and fixed rental increases above the CPI are simply not sustainable given the sudden growth in online retailing.
Online influence
However, it's not just purchasing over the internet that is causing retailers a problem.
Have you noticed how customers conduct instant in-store price checks using their iPhones or iPads? Retailers are now often being forced to further shave already thin margins on the spot to make a sale.
That simply means retailers need to respond more vigourously to this online threat.
Some recent research by Deloitte confirms retailers must change — and quickly — to deliver a seamless online service for their customers.
Bottom line: Historically, retail landlords have been prepared to accept income yields as low as 4% to 5% because they were accompanied by 8% to 9% per annum capital growth. But this is no longer the case.
Leases with fixed rental increases have been growing faster than the CPI, which only creates illusory growth — because those rentals will simply fall back at the next market review.
Therefore, most commercial property owners are now viewing their retail investments as an "income play". And yields have been firming accordingly.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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chrislang-EQKojcgJPV

With retail capital growth looking fragile, retail yields are firming

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Sydney's prime office capital values market has moved from about seven o'clock to about eight o'clock on the property clock between the first and second quarters of 2012, according to Jones Lang LaSalle.
The real estate services firm puts Sydney's prime office capital values market in the "capital value growth accelerating" quadrant of its property clock, alongside the prime office capital values markets of Los Angeles, Frankfurt and Atlanta. 
Click to enlarge
<a href="/images/stories/2012/08/jllaug131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/jllaug131thumb.gif"></a>
Sydney's prime office rental market also progressed from about seven to about eight o'clock on the property clock, according to Jones Lang LaSalle.
Click to enlarge
<a href="/images/stories/2012/08/jllaug132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/jllaug132thumb.gif"></a>
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Sydney prime office values and rents rising as it moves forward on the property clock: Jones Lang LaSalle

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Pacific Brands has sold its Bonds factory in Wentworthville for $27 million. The factory has been in operation since 1923. The historically important site in Dunmore Street contains working examples of 1920s factory construction, mainly the cutting room.
<img src="/images/stories/2012/08/pacificbrands4.jpg">
It will generate a one-off sale profit in 2013-14 of about $11 million for the company.
<img src="/images/stories/2012/08/pacificbrands1.jpg">
The sale completes a transformation program to manufacture offshore started in 2009 when it was announced the factory would close. Some 223 people would lose their jobs after Pacific Brands, the company that makes the brand of Bonds and Berlei, announced it would axe 1,850 jobs across the group.
<img src="/images/stories/2012/08/pacificbrands2.jpg">
The property is on the <a target="_blank" href="https://www.holroyd.nsw.gov.au/building__and__development/heritage/heritage_items/heritage_items/190-220_dunmore_street,_wentworthville">Holroyd City Council heritage list</a>.
<img src="/images/stories/2012/08/pacificbrands3.jpg">
The suburbs last big sale was when Metroland Australia sold Wentworthville Mall to a local investor for $18.3 million. The mall spans a lettable area of 5,403 square metres and had annual net income of $1.73 million. 
Photographs courtesy of <a href="https://www.holroyd.nsw.gov.au/building__and__development/heritage/heritage_items/heritage_items/190-220_dunmore_street,_wentworthville" target="_blank">Holroyd City Council</a>
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jchancellor-FAypfDUnLy

Pacific Brands sells its Bonds factory in Wentworthville 

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We might like to think that life is certain, but it is not. Neither is the market. History shows us that the market is on the precipice of uncertainty pretty much all the time. That’s because the market is actually a composite of people’s opinions. And opinions can change on a five-cent piece.
Buyers and sellers act out of need, out of want and out of instinct. Their many actions culminate in exchanges of ownership. These exchanges are what society focuses on and records in an attempt to give a sense of certainty to the market.
The opinion-recording mechanism that society uses to try to create an element of certainty is price. Price is a very imperfect unit of measurement when it comes to describing the emotional certainty of a transaction. But it’s the most practical and the only uniformly acceptable measurement we have.
In Melbourne in 2012 there is currently a malaise of uncertainty on price that is besetting many an inexperienced buyer and seller out there. This uncertainty is creating a wide range of emotions for many buyers, even if they don’t realise it.
How do you as a buyer live, deal and feel comfortable with your emotions in a world that is currently headlining uncertainty over certainty right now? How do you as a buyer function within the Melbourne property market without going a little crazy when you use price as a measurement to give you certainty?
To get some comfort when you are uncertain there are two magic pills. They are very different, and either can work for surviving this current market.
One magic pill is ignorance. The other is being properly informed.
Ignorance can work well when buying homes in a booming market like that of the early 2000s. But in the current uncertain market, using ignorance is a bit of a crapshoot. While sometimes it can work, we’ve also seen it hurt a lot more people than it has helped – particularly in the outer areas, in overpriced apartments and in poorly located, poorly laid-out or over-priced inner-Melbourne family homes.
The other magic pill for managing your emotions in the property market is information. Being properly informed can allow you to traverse the current market of uncertainty in a manner involving less pain, both now and in the future.
So back to price, which is where all the pain is right now – how do we lessen the pain of price uncertainty? How do you get comfort in your price selections right now?
Simple: you have to understand what price is and how it works.
In our current market you can only look at price with certainty if you look at it as a mechanism that allows a transaction and almost nothing else.
You need to understand that price characteristics change in a falling market. And those changes bring in a whole new genre of commentary called risk analysis. Risk analysis is about examining your chances of achieving your goals. Risk management is about minimising the possibility of missing out on what you want.
At the moment, if you are feeling uncomfortable about price it is probably because you are uncomfortable with what price actually is and does, and with the associated risks.
But how can you get comfortable with price in this market? Understand what it is and what it isn’t.
 
<hr class="system-pagebreak">
 
Is there such a thing as the right price in 2012?
Here is a practical example: A client comes to us and asks, “Is this a good price for this home?” We respond, “On any specific number we honestly don’t know. We can show you how to try and achieve this price or that price within a range, but whether it is a good price is hard to say right now.”
Let’s say that one weekend there are two bidders on a home. The vendor is feeling bullish. Bidder One is prepared to pay $2.1 million and Bidder Two is prepared to pay $2.05 million . The vendor passes the property in at $2.05 million and says he wants $2.15 million. In the end he gets $2.1 million from Bidder One, who is nervous about Bidder Two.
But the situation could have turned out completely differently if on that weekend Bidder Two had already bought a home and so the property was passed into the sole Bidder One, at $1.8 million. Say the vendor had also been told during the week by his spouse that he must buy another home they had seen two days earlier or she’d file for divorce. Our vendor is now a “motivated’ vendor and has moved from bullish to nervous – so he takes the $1.81 million offered post auction from Bidder One who, seeing no other bidders, is prepared to stick to her guns on that lower price.
Which of these prices was a good price? Well, one price was lower than the other, but that was as a result of a convergence of circumstances and opinions. The lower price in the second situation was simply because Bidder Two was no longer in the game, and the vendor was very motivated to sell. But for Bidder One in the first situation, the higher price was also a good price – because she managed to beat off Bidder Two and come to a deal with a vendor who had high expectations.
Is $2.1 million a bad price – is $1.81 million a good price? Well, we don’t know all the circumstances. Was the home the right home for both parties? What if the $1.8 million buyer has to sell in six months because it’s not right for her and prices had dropped by 15%? What if the $2.1 million buyer is very happy bringing up her family in the house and the street and holds on to it for the next 20 years? Which price then was the right price?
The nature of a weak market like the one we’re in now is that we’re relying on a smaller pool of opinions. There may be two bidders, or just one. There’s no certainty. There are just large variances – that is why a $300,000 variance is a very real possibility.
(In a strong market you’re less likely to see these sorts of variances at a public auction, because with three or more bidders, even if one drops out there is still competition to support the price.)
The point is that at the moment prices can vary big time, and for those looking for comfort we recommend you look to your decision-making processes rather than just price.
The good decisions you can make, as a buyer, are to decide whether the house is the one you want, whether you’re prepared to pay what it takes to buy it, what your alternatives are if you don’t buy, what are reasonable price ranges (even if they are wide), what are your strategies to get the lowest price and what are the risks involved in your actions.
If you are to act, then this process will give you some comfort in the uncertainty of price in this market.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.</body></html>

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How to have confidence in your property buying decisions, even though the market is always on the precipice of uncertainty

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Over the past two decades there has been explosive growth in the supply of new apartments. Every capital city and many major regional centres have now experienced the spread and popularity of apartments, in particular projects in or close to the CBD.
Major apartment developments are now a central element of urban growth and planning. The Gold Coast is now home to one of the world’s tallest residential buildings. Q1 is an impressive 322.5 metres tall, but other cities, including Melbourne, Chicago and Dubai, also have impressive residential towers.
There are an estimated 100-plus very tall residential buildings across the globe, thus clearly establishing the trend of mega residential towers on our skylines. And while these are impressive projects with extensive marketing campaigns, there is another side of the market – the smaller, more boutique style of development that increasingly peppers our suburbs. In particular these are popular in our popular and more expensive inner suburbs, where there are many projects on the go.
It’s a trend that is evident in particular across many older established suburbs, but this is not a new fashion, as areas like Sydney’s inner east and Melbourne’s St Kilda have long been home to many apartment buildings. Located on what would have been seen as the fringes of the CBD, Sydney’s 13-level Astor (built in 1927, architect Donald Esplin) is a great example of how smaller projects stand the test of time.
These inner-city apartments used to offer a very wide spectrum of prices, from the modest and affordable to the opulent and very expensive, but the reality now days is that to be financially viable, smaller buildings, in particular new developments as opposed to refurbishment projects, need to attract high prices.
However these projects can still cover a generally wide cross section of developments that can range between six and 20-plus apartments, and they are almost always in very desirable and well-established locations.
There tends to be very expensive apartments in these smaller buildings, in highly sought-after locations with AAA finishes, close to the best of established amenities and accordingly with multimillion-dollar price tags – but this does not always have to be the case.
Where do the residents come from for these apartments? Experience shows that many of these projects have become attractive to older buyers trading down from large family homes, either in the immediate area or from other wealthy suburbs.
However, when it comes to marketing these and other smaller projects there is never a simple answer, as the buyers are a diverse group. Smaller developments still attract a wide cross section of people, and while there may be fewer first-time buyers with young families, the market will still represent a mixed community.
Experience also shows that while the market has depth and diversity, the buyers can be harder to find and engage. This partly reflects the limited nature of supply and frequently there is less urgency.
Because of the size of each project the number of apartments for sale will be limited in any one location, but there may be several small projects spread across the area and there is always the private treaty market to consider.
Unlike a large project that can accommodate varied needs and product with much more flexibility appealing to many different buyers, smaller buildings tend to have a more specific target demographic and so the marketing plan, budget and mix of activity is very different.
Commercially it is also necessary to accept that a larger development with wider appeal could have more avenues for success, as the market is bigger. However the development costs will be much higher. This risk is harder to package and requires years of experience by the project team to get it right.
However, in setting the marketing outcomes for any development it is always necessary to take into account the impact of how the mix of apartments and the size of the project will be received by the market.
In some locations, like those mentioned above, generally much higher prices will be required to justify the risk. The amount of capital involved is higher, including the reality that land costs per apartment will be more, alongside demolition and possibly extended holding charges.
In such a case the mix of apartments, their size and standard of finish will be central options to consider if the desired net return is to be achieved. Here again the marketing will be critical so that time on the market is limited, and this would include targeting early off-the-plan sales successfully.
Given the impact of the development costs involved and the resulting asking prices for the project the target demographic that have to be reached should be locked in well before any marketing is undertaken.
The apartments that are created will have to appeal to a very select market in order to be commercially viable. This may appear obvious, but highly focused and accountable marketing will be required to ensure the target is engaged. Be they owner-occupiers or investors, the high prices involved only further emphasise this reality.
Mistakes will be harder to undo. If the target is not engaged, prices will suffer and it will take more time to sell all apartments. Also if the target is engaged and sells fast then prices can be adjusted.
Smaller developments in prime locations simply have to deliver appropriate, quality apartments for sale to justify the development risk with products to precisely match market expectations.
The marketing message needs to be structured for maximum impact to the particular target market. It will also be important in a smaller development to maintain consistent brand values, as a mixed message will only create confusion in the eyes of a very observant buyer.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a> 
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To market smaller developments you must fully understand your target market

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The estimated net rent per square metre per year that two tenants will pay for more than 2,000 square metres of office space at the Riverside Quay precinct on Melbourne’s Southbank. The two leases were negotiated by Ben Christie, Colliers International director of office leasing, in Buildings 1 and 2 at Riverside Quay. The whole of level four, Building 2 at Riverside Quay has been leased to global property and project consulting firm WT Partnership Australia. The lessor was Mirvac Asset Management. WT Partnership Australia will occupy 1,360 square metres on a six-year lease. Japara Holdings has signed a six-and-a-half year deal to sub-lease level four (1,026 square metres) in Building 1 at, Riverside Quay. Japara took on the sub-lease opportunity offered by Adecco Australia.
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The net rent per annum that Rip Curl Group parent company RC Waves Pty Ltd is believed to be paying on a new six-year lease over an office and warehouse facility at Keysborough in Melbourne’s south-east in a deal negotiated by Savills Australia. The 134-148 Atlantic Drive property comprises a 3,855-square-metre building including a 479-square-metre office component over two levels, a 100-square-metre mezzanine space, and a 3,276-square-metre warehouse on a 6,750-square-metre site. The deal was brokered by Savills Australia divisional director of industrial Joseph Catanese. The lessor was a private investor.
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The estimated gross annual rent that Indian restaurant operator Masala Art will pay to lease new premises in Toowoomba. Masala Art has leased the site of the former Weis Backdoor café in the Clifford Gardens Shopping Centre in a deal negotiated by Ray White Commercial Toowoomba’s Mark Wynhoven and John Smith. Masala Art has subleased the site, taking up the remaining four years of the Weis lease. The shop measures 120 square metres.
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The estimated annual rent that church group the Harvest Centre will pay to lease a Burleigh Heads industrial property on the Gold Coast. The property at 1/62 Township Drive has existing approval to be used as a church and was recently vacated by a church group.  The new lease deal was negotiated by Craig George of Colliers International.  The Harvest Centre has taken on a three-year lease with renewal options. It will occupy the 343-square-metre building, which consists of a 280-square-metre fully carpeted warehouse and 63 square metres of mezzanine office. The property is owned by Dawnlite Nominees at Township Drive and is one of two units in the complex and is situated alongside the M1.
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The gross face rent per annum that Precision Mail will pay to lease 5,913 square metres of industrial space at 223-225 Barry Road, Campbellfield, in Melbourne’s outer north. The five-year lease was negotiated by Tim Homes and Marco Sandrin from Colliers International. The property is part of the investment portfolio of 360 Capital Property Group. The office-warehouse property is located just off the Hume Highway within close proximity to the Metropolitan and Western Ring Roads.
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Roughly how much truck repair firm Bronco Truck Repairs will pay to lease an office/warehouse facility at Laverton North in Melbourne’s western industrial precinct in a deal  negotiated by Savills Australia. The property at 41B Little Boundary Rd comprises a 400-square-metre office/warehouse facility on a 2,600-square-metre site. The three-year deal was negotiated by Savills industrial executive Luke Jesson. The property is situated on the corner of Leslie Road, offering immediate access to the Western Ring Road and West Gate Freeway.
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