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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Australia’s construction industry contracted for the 26th consecutive month in July, with a steeper pace of decline recorded in house building, according to the latest Australian Industry Group (AIG) Australian Performance of Construction Index.
The construction industry failed to rebound despite successive rate cuts in May and June, with AIG director of public policy Peter Burn noting that ongoing slumps in commercial and housing construction were the biggest drags on activity.
The index, which is compiled in conjunction with the Housing Industry Association (HIA) and is based on surveys of a representative sample of construction firms, was 2.2 points weaker in July, recording 32.6 for the month.
All four sub-sectors remained firmly in contractionary mode in July: House building (28), commercial construction (26.1), apartment building (32.9), and engineering construction (39.5).
Construction industry employment also slumped, while the key new-orders sub-index was broadly unchanged – up slightly, but still contracting at 33.9.
Readings below 50 indicate a contraction in the industry with the distance from 50 indicative of the strength of the decline.
Click to enlarge
<a href="/images/stories/2012/08/hiaaug8.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/hiaaug8thumb.gif"></a>
One positive development was the marked slowing in the rate of decline in apartment construction activity consistent with the recent lift in multi-unit approvals.
This sub-index increased by 11.1 points to 32.9 points.
"A slower rate of contraction in apartment building in July is a positive sign, but the reality is that it still means yet another month in which activity has declined,” says HIA senior economist Andrew Harvey
“Meanwhile the core ‘detached housing’ segment of residential building contracted at a faster rate than in the previous month.
“A total of 125 basis points of cuts in official interest rates since late 2011 is yet to have a discernible impact on residential building, not helped by cautious consumers and a policy environment that sees new housing at a considerable disadvantage to established housing due to excessive taxation,” Harvey says.
Commercial construction continued to exhibit substantial weakness, while the lower interest rate environment has yet to translate into an improvement in house building activity.
New orders in the house building sector also declined falling 2.1 points to 30.3 signalling a sharper rate of contraction in the month.
Businesses surveyed attributed the ongoing decline in construction activity to subdued demand conditions, citing low levels of new orders, project delays and weak confidence among consumers and investors.
The survey also revealed intense competition for existing contracts and difficulties in obtaining credit or funding for the lack of new construction work.
“Two bright spots in July were an easing in the rate of decline in apartment construction activity and a pick-up in the engineering construction new orders sub-index.  However, with new orders and employment levels across the industry continuing to fall, the new financial year has brought little to cheer about," says Burn.
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New home building fell for 26th straight month in July: AIG/HIA index

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The decision by the RBA board to keep the cash interest rate at 3.5% has not come as a big surprise. 
While many home buyers had hoped for further relief in terms of repayments, the global economic climate and our own markets here had suggested that there would not be a further cut just yet. 
On reflection, we have seen moderate growth in China, some growth in the US and some reassuring movements in the European financial markets, which would stand to reason not to cut the rate further. 
While our labour market remained strong – even recording a slight growth despite job cuts in some industries – and business credit on the increase, the RBA’s decision to keep the interest rate steady is understandable. 
Home owners who had hope for another cut should look at refinancing as an option, especially if their property is financed with a fixed-rate loan. Bear in mind the availability of more flexible loans that allow switching back and forth between fixed and variable rates. These loans may be the best suited in order to make the most of the already low rate and be able to make the most of any future cuts.
 Robert Projeski is a leading property finance expert and the founder and managing director of <a href="https://%20www.amo.com.au" target="_blank">Australian Mortgage Options</a>. He has appeared on radio and TV and written extensively on property and finance matters.
{module Have you changed lenders in the last six years?}
{module What do you intend to do given the current interest rate fluctuations?} 
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Mortgage holders who had hoped for RBA cash rate cut should consider refinancing

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Many property investors get stuck on two or three properties and fail to progress up the property ladder.  You know in your heart that you need to build up a portfolio of properties if you really want financial freedom.  Buying just one or two investment properties is not going to cut it.  You need a bunch of quality properties to generate the cashflow you need for your lifestyle. 
You’ve read several property books or magazines and been to a few seminars to get the basics, but it’s still not happening.  You start to feel like there are some missing pieces to this property jigsaw puzzle.  You’ve seen stories about some really successful investors buying five, 10 or even 20 properties and start to think, “Is that really possible?” You might feel like a bit of a failure and get worried that things will never come together. 
Your friends and family might be saying, “Now is not the time to invest”, or “Things are just too uncertain”, or you’ve read some articles saying the resources boom is over. Then several bills come in, you find the hot water system in your investment property has just blown up and that the tenants in the other one are leaving. 
Whatever your circumstances, the super investor takes a different approach to the herd.
Here are six things that super investors do to make it happen: 
1. Value time
The super investor understands the value of time.  She realises time is much more valuable than money.  You can’t get time back.  Super investors use property investment to “buy” more time.  By investing in property now, you are investing in your own financial future that will give you more choices about work and lifestyle. They also leverage other people’s time, as this is finite. 
2. Set goals
Super investors love setting and achieving goals. It gives them a sense of purpose and destiny. They are not constrained by low-level thinking – they are motivated and energised to achieve worthwhile goals. Most of the people on the BRW Rich 200 list are people who worked hard, saved and invested in growth assets long enough to enjoy the benefits of goal setting. 
3. Have a strategic mindset
How you think about yourself and others plays a significant role in how things turn out. Are you a glass half full or empty person?  I say plan for the worst but expect the best.  You do need both types of thinking to be a super investor, but it doesn’t mean you need
to mope around the house with a worried expression all the time. The super investor engages in strategic thinking, researches extensively and considers the long term. 
4.  Take action
To be successful in property investment, you not only need the knowledge, you need the courage to take action. Knowledge is not power unless you use it. Most people that go to seminars and read books do not do anything. They gain the theoretical knowledge, but very few use it themselves. 
5. A system
Abraham Lincoln said “If I had eight hours to chop down a tree, I’d spend the first six hours sharpening my axe.” The same applies to property investors – getting the right systems and strategies. Super investors repeat what works and refine what doesn’t. 
6.  Use a team of experts
The super investor has quickly discovered the power of leverage via other experts.  Trying to do everything yourself will tie you up in knots. A critical person on your team is a licensed buyers’ agent. They can help you develop a strategy, perfect for your personal situation. Buyers’ agents can quickly shortlist the top suburbs for growth or yield using sophisticated research tools. They can uncover off-market deals, new listings and hot properties via their established networks. To understand a local property market can take the average investor months, but using a buyers’ agent can take days.  They can help you negotiate and appraise the property for the lowest possible price and protect you from making bad property decisions. 
To be a super investor is not a pipe dream – it just takes courage and the ability to choose your team of advisors wisely.
Rich Harvey is founder and managing director of Sydney buyers' agency <a href="https://www.propertybuyer.com.au/" target="_blank">PropertyBuyer</a>
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rharvey-JMQneTqnM9

Six ways to build a property investment portfolio

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The Melbourne housing market is currently treading water, according to Monique Sasson Wakelin, who describes the property market as "flat as a pancake over June 2012 quarter". Wakelin reached that conclusion by averaging out divergent housing price data from different analysts.
Rather than enter into the current debate over which data provider is "right", Wakelin says “the truth probably lies somewhere in the middle”.
“We like to consider all of the data sets and then report an average of all the results for the national market. We do the same for the Melbourne market by adding in the recently published data from the Real Estate Institute of Victoria,” she says.
The average Melbourne house price data as reported by the ABS, RP Data-Rismark, Australian Property Monitors, Residex and the REIV showes an average quarterly decline of 0.12%, with prices down 5.14% over the past 12 months.
Melbourne housing market
<table width="398" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="185">
Provider
</td>
<td valign="top" nowrap width="104">
June Quarter change (%)
</td>
<td valign="top" nowrap width="109">
Annual change (%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Australian Bureau  of Statistics
</td>
<td valign="top" nowrap width="104">
-0.4
</td>
<td valign="top" nowrap width="109">
-4.8
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
RP Data-Rismark
</td>
<td valign="top" nowrap width="104">
-3.4
</td>
<td valign="top" nowrap width="109">
-6.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Australian Property  Monitors
</td>
<td valign="top" nowrap width="104">
1.6
</td>
<td valign="top" nowrap width="109">
-2.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Residex
</td>
<td valign="top" nowrap width="104">
-1.3
</td>
<td valign="top" nowrap width="109">
-6.4
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Real Estate Institute  of Victoria
</td>
<td valign="top" nowrap width="104">
2.9
</td>
<td valign="top" nowrap width="109">
-5.3
</td>
</tr>
<tr>
<td valign="top" nowrap width="185">
Average of 5 providers
</td>
<td valign="top" nowrap width="104">
-0.12
</td>
<td valign="top" nowrap width="109">
-5.14
</td>
</tr>
</tbody></table>
 A similar pattern for the national data emerges of a small quarterly decline (-0.25%) and larger 12 month fall (-2.65%).
<table width="407" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" nowrap width="147">
Provider
</td>
<td valign="top" nowrap width="161">
June Quarter change (%)
</td>
<td valign="top" nowrap width="100">
Annual change (%)
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Australian Bureau  of Statistics
</td>
<td valign="top" nowrap width="161">
0.5
</td>
<td valign="top" nowrap width="100">
-2.1
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
RP Data-Rismark
</td>
<td valign="top" nowrap width="161">
-1.2
</td>
<td valign="top" nowrap width="100">
-3.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Australian Property  Monitors
</td>
<td valign="top" nowrap width="161">
0.4
</td>
<td valign="top" nowrap width="100">
-1.6
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Residex
</td>
<td valign="top" nowrap width="161">
-0.7
</td>
<td valign="top" nowrap width="100">
-3.3
</td>
</tr>
<tr>
<td valign="top" nowrap width="147">
Average of 4 providers
</td>
<td valign="top" nowrap width="161">
-0.25
</td>
<td valign="top" nowrap width="100">
-2.65
</td>
</tr>
</tbody></table>
Writing on her blog, Wakelin says the averaged figures pass the “smell test”.
“They concur with what we see and hear around the country – that is, prices are probably down around 5-10% or so across our major capital cities over the last 12 months, but that the market has been reasonably steady in the last quarter, as participants begin to respond to lower interest rates.
“While these figures are by no means definitive or irrefutable evidence that the property market has bottomed, they should give investors and home buyers a fair degree of confidence that the worst is behind us,” Wakelin says.
In his June quarter update, REIV chief executive Enzo Raimondo made similar observations about the Melbourne property market.
Raimondo says a combination of "broader economic factors, slowing population growth and continuing low levels of consumer confidence, have resulted in no real capital growth in the residential market this year".
“Both buyers and sellers are approaching the market in a conservative manner. This is translating into a lower number of sales than is present in a strong market and as a result, no real price growth has been recorded," Raimondo says.
“The real estate market moves in cycles and, after the initial price falls in 2011, it is now in a period of stability marked by low activity.
“The median price has fallen 5.3% over the past 12 months but, as the overall median has not changed in the past six months, this indicates that the market has plateaued and is likely to remain like this until confidence improves."
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Melbourne property market 'flat as a pancake' but the worst is behind us: Monique Sasson Wakelin

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Westpac chief economist Bill Evans has continued to revise expectations of the next RBA cash rate cut but is sticking with his forecast of at least one more reduction in 2012.
But he is rapidly running out of monetary policy meetings for this to happen, with November now tipped by Evans as the next likely time the RBA will move.
If the forecast were to be pushed back even further, this would only leave December 4 for one more rate cut in 2012 – a far cry from Evans' end-of-May forecast of a 2.75% cash rate by year-end.
The RBA does not meet in January.
Evans was most bullish at the end of May, following the 5o-basis-point cash rate cut, correctly forecasting a 25-basis-point rate cut in June.
However, expectations of further rate cuts in July and August did not eventuate. Evans also said at the time that he expected another rate cut in the fourth quarter, bringing the cash rate down to a record low of 2.75%.
These expectations have been revised back over the last few months as the property market shows some signs of life, unemployment remains low and the domestic economy performs in line with expectations.
Following yesterday’s RBA decision to keep the cash rate on hold in August, Evans said the subsequent monetary policy decision statement suggested November was now the most likely month for the next rate cut.
"[Yesterday’s] monetary policy decision statement gave little encouragement that a move in September can be expected, and it may be that even October will be a little early given the likely 0.8% print for GDP growth in the June quarter on September 5," Evans said.
On July 17 Evans pushed back Westpac’s forecast for the next rate cut from August to either October or November.
Evans is by no means the only economists to back-track on rate cut forecasts, with the Commonwealth Bank’s Michael Blythe also pushing back forecasts from August to November.
“The main pressure for lower rates reflects global risks – either directly through slower growth and financial market volatility or indirectly through lower commodity prices and a falling terms-of-trade. We retain a rate cut in our forecast profile for November partly as a reflection of those risks,” Blythe said.
However, Evans' revisions will be eagerly followed.
He was the first noted economist to tip the RBA to begin its current rate cutting cycle in November last year, tipping it as early as mid-2011 – while other economists did not foresee a rate cut and some even forecast rates to rise.
Analysing yesterday’s statement from the RBA, Evans found comments to encourage both interest rate doves and hawks.
He said the statement included “subtle changes in the wording around some of the risks to the outlook” but that there was “nothing that would indicate a material change in the bank's 'wait and see' attitude”.
But he said there was still some encouragement in the governor’s wording for “doves” like Westpac, which is forecasting a December quarter rate cut.
“Whereas in July he referred to the unemployment rate remaining low in this statement he notes "unemployment has THUS FAR remained low".
“This may be partly in response to the rise in the unemployment rate from 5.1% to 5.2% as reported for June.
“The doves also received some encouragement when he referred to inflation being expected to be consistent with the target "over the next one to two years" – no time period was given in the July statement.
“On inflation we are also aware that the vank is concerned to see domestic costs slow due to the likely eventual rise in traded inflation when the exchange rate stabilises.
“In this statement he recognised that there was some evidence that domestic costs had slowed noting "domestic costs [are required to] continue their recent moderation.
“Finally the doves will be encouraged that there appears to be an air of concern around the fact that the exchange rate has remained high despite the decline in the terms of trade," Evans noted.
However, Evans also noted that there were a few comments in the governor’s statement to “encourage the hawks”.
“The governor noted that "Australian banks have had not difficulty in accessing funding". He pointed out that "dwelling prices have firmed a little over the past couple of months" and of course is now describing growth as "close to trend".
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Next rate cut now more likely in November, says Westpac’s back-pedalling Bill Evans

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Three things are fundamentally wrong with the idea that the resources boom will end soon. 
One is the notion that the party stops when the construction of a mine or processing facility is completed – when, in reality, that’s when it begins. 
Another is the false premise that few new projects will be constructed beyond 2014, a claim that suggests people haven’t done their homework before indulging their addiction to media profile. 
And a third is a misunderstanding of the processes under way in China, India and other nations undergoing industrialisation and urbanisation. 
That misunderstanding has lead many to describe what’s happening in the resources sector as a “boom”. That’s a misnomer because a boom is a short sharp rise followed by rapid decline. 
The demand for Australian resources results from significant structural change in the world economy, inspired in part by the emergence of new economic power nations which are seeking to lift the living standards of very large populations. 
This is not a process to be measured in years. It will extend over decades. Property analyst Simon Pressley, recently named Australia’s Buyers’ Agent of the Year, <a href="https://www.propertyobserver.com.au/trends/decrying-the-end-to-the-mining-boom-hysteria-simon-pressley/2012080255793" target="_blank">calls it the “resources revolution</a>”. 
High ongoing demand for our resources will continue beyond my lifetime, notwithstanding the likelihood of a few jitters along the way. Australia is going to play a primary role in servicing global demand for ore, coal and gas. 
The belief that the “boom” ends when construction of new mines and processing plants is completed is just bizarre. As Pressley pointed out in one of his Propertyology reports recently, this in fact is when it begins. 
Australia currently has massive new projects under construction, with iron ore projects, coal mines and gas processing hubs, along with associated infrastructure like export facilities and rail links. But the nation doesn’t earn any export dollars until these projects are completed. 
It’s only when they start shipping ore and coal and liquefied natural gas (LNG) that the dollars start to flow. And all the mega projects have proceeded with all or most of their future production under forward sales contracts. 
The third fault line running through the “the boom is ending” argument is the erroneous notion that nothing will happen in Australia once the current crop of projects is completed. The proponents of this idea need to catch up on their reading – or get out of their offices and visit a few coalfaces. 
Most of the big resources projects around Australia are yet to start construction or are just starting to crank up building work. There is so much more to come. 
There have been dozens of major announcements over the past month or so, coinciding with those silly predictions that it’s all grinding to a halt. Here are just some of those relating to Queensland alone: 
Queensland coal production is expected to more than double in the next eight years. In the same period Australia is expected to become the world's largest gas exporter. A report from the Bureau of Resources and Energy Economics says Australia's LNG exports could grow to 106 million tonnes by 2020. The report's long-term projections also suggest big increases in exports of thermal coal and metallurgical coal. 
The $23 billion Australia Pacific LNG project based in Gladstone is to be expanded. Origin Energy, ConocoPhillips and Sinopec have decided to add a second stage, having secured a 20-year supply contract with Japanese power company Kansai. 
A coal seam gas (CSG) project in central Queensland is a step closer towards production, with the state government issuing terms of reference for an environmental impact statement. Arrow Energy's Bowen Gas Project is one of two CSG developments that will form part of the company's LNG project. Arrow will develop up to 7,000 gas wells over the next 40 years, each with a lifespan of 15 to 20 years. CSG will be transported from the Surat and Bowen basins to be liquefied at an LNG plant at Gladstone.
The $1.1 billion Fisherman's Landing LNG project in central Queensland is going ahead, after Melbourne-based Molopo sold its Queensland CSG assets to PetroChina. The Chinese group will now begin talks with LNG Limited, which is behind an LNG plant at Gladstone, over a tolling agreement for gas from the Molopo acreage to be processed to be in the plant. Fisherman's Landing is the smallest of the five LNG plants under construction or planned for development around Gladstone.
Yarwun 2, the $2.4 billion expansion of Rio Tinto Alcan's Yarwun Alumina refinery, passed a major landmark recently when the first bauxite was fed into the new facility and Yarwun 2 began producing alumina. Eventually the plant will produce 3.4 million tonnes each year, compared with the current capacity of 1.4 million.
Xstrata has agreed to a $110 million pre-commitment for an expansion of the $2.5 billion Wiggins Island Coal Export Terminal at Gladstone, boosting the chances that the expanded port and the associated $1 billion Surat Basin rail project will begin exporting by 2016.
Stanmore Coal will bring 750 jobs to the Toowoomba and Surat Basin regions when it develops a Wandoan mine worth $380 million. Construction will begin in early 2014. The environmental impact statement for the mine says it could be operating and exporting before the end of 2015. 
Mt Isa City Council has started the process to freeing up land for developers to build a new suburb of about 400 homes. The council feels the expansion of the resources sector in the area makes existing housing supply insufficient to meet coming demand. 
We’ve also had major announcement of developments in Western Australia, South Australia, Victoria, New South Wales and the Northern Territory. Space doesn’t allow me to list them all.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" rel="nofollow" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" rel="nofollow" target="_blank">followed on Twitter</a>.
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Why Australia's resources boom – and property investment opportunities in resources areas – are nowhere near over: Terry Ryder

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Median rents in the Queensland mining town of Gladstone have increased an average of 62% in the past two years, according to PRDnationwide.
The greatest rental increase was for four-bedroom houses, where the median rent rose 86% from $350 to $650. The smallest increase was 42% for three-bedroom houses, where the median rent rose from $285 to $490. 
<img src="/images/stories/2012/08/prdaug74.gif">
For more, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom" target="_blank">Residential Property Investment Amid Queensland's Resources Boom.</a>
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Median Gladstone rents increased an average of 62% in past two years: PRDnationwide

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RBA governor Glenn Stevens had only a little to say about the housing market in <a href="/news">his monetary policy decision statement </a>after leaving the cash rate on hold at 3.5%, but the brief mention he gave the property market was the first positive-leaning observation in months.
It was against the backdrop of observations that the rate of unemployment has thus far remained low, inflation remains low, and the outlook for inflation is expected to be consistent with the target over the next one to two years.
Noting monetary policy was currently easier than it was for most of 2011, the governor indicated interest rates for borrowers were a little below their medium-term averages.
The key sentence for property investors and home buyers was:
“While it is too soon to see the full impact of those (interest rate) changes, dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years.” 
The governor’s assessment that the housing market had firmed a little over the past couple of months contrasts quite strongly with the terminology used to the describe the housing market in past months.
Only a month ago, in the July 3 statement he referred to the housing market as “subdued”; in June he said it had “recently declined again”; in May he again called it “subdued” and back in April he described it as “soft”.
You have to go back to February for any vaguely positive outlook about the housing market, when Stevens noted that “housing prices showed some sign of stabilising at the end of 2011”.
In the December 2011 statement prior to February's, Stevens noted that “credit growth remains subdued and asset prices have declined further over recent months”.
While hardly jumping up and celebrating a revival in the housing market, Stevens may be hinting that, just possibly, the market may have turned the corner.
No doubt, Stevens would have taken note of the 0.6% and 1% capital city growth figures recorded by RP Data-Rismark in July and June as well as the o.5% June quarter growth recorded for capital city house price by the ABS, as well as its str0nly upwardly revised March quarter figures.
All eyes will now turn to the next batch of monthly figures from RP Data-Rismark for August (released on September 1) to see whether the recovery can be sustained for a third straight month (without the inducement of a rate cut) when the spring selling season commences.
Some earlier indications of a firming market may be seen in housing finance data for June released by the ABS tomorrow.
Economists polled by Bloomberg last week are forecasting a 2% rise in the number of home loans sold over June after 1.2% fall in May.
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No longer 'subdued, 'soft', or 'declining', but 'firming': RBA’s Glenn Stevens has a new perspective on the housing market

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<a target="_blank" href="https://www.rba.gov.au/media-releases/2012/mr-12-18">RBA governor Glenn Stevens has released a statement </a>regarding today's board meeting decision to keep the cash rate on hold.
"At its meeting today, the board decided to leave the cash rate unchanged at 3.5%," the statement says.
"Having picked up in the early months of 2012, growth in the world economy has since softened. Current assessments are that global GDP will grow at no more than average pace in 2012. Most commodity prices have declined, which has helped to reduce inflation and provided scope for some countries to ease macroeconomic policies. Australia's terms of trade peaked nearly a year ago, though they remain historically high.
"China's growth has moderated to a more sustainable pace, but does not appear to be slowing further. Conditions in other parts of Asia have recovered from the effects of last year's natural disasters, though the ongoing trend is unclear and could be dampened by the effects of slower growth outside the region. Growth in the United States continues, but at only a modest pace. The most significant area of weakness continues to be Europe, where economic activity has been contracting and policymakers confront the very difficult task of seeking to put both bank and sovereign balance sheets onto a sound footing, while promoting conditions for improved long-term growth," Stevens says.
"Financial markets have responded positively to signs of progress, but Europe will remain a potential source of adverse shocks for some time. Low appetite for risk has seen long-term interest rates faced by highly rated sovereigns, including Australia, decline to exceptionally low levels. Nonetheless, capital markets remain open to corporations and well-rated banks and Australian banks have had no difficulty accessing funding, including on an unsecured basis. Share markets have remained volatile, though in net terms they have generally risen over the past couple of months.
"In Australia, most indicators suggest growth close to trend overall. Labour market data show moderate employment growth, even with job shedding in some industries, and the rate of unemployment has thus far remained low.
"Inflation remains low, with underlying measures near 2 per cent over the year to June, and headline CPI inflation lower than that. The effects of the price on carbon will start to affect these measures over the next couple of quarters. The Bank's assessment of the outlook for inflation is unchanged: it is expected to be consistent with the target over the next one to two years. Maintaining low inflation over the longer term will, however, require growth in domestic costs to continue their recent moderation as the effects of the earlier exchange rate appreciation wane.
"As a result of the sequence of earlier decisions, monetary policy is easier than it was for most of 2011, with interest rates for borrowers a little below their medium-term averages. While it is too soon to see the full impact of those changes, dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years. The exchange rate, however, has remained high, despite the observed decline in the terms of trade and the weaker global outlook.
"At today's meeting, the Board judged that, with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remained appropriate," Stevens says.
 
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Dwelling prices have firmed a little over the past couple of months: RBA governor's August 2012 statement

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The Reserve Bank board would have taken into account the improvement in capital city housing markets over the past two months in deciding to keep rates on hold today, according to RP Data national research director Tim Lawless.
Lawless says improvements in capital city home values – up 0.6% in July and 1% in June according to RP Data- Rismark figures – provided “some further evidence that Australian consumers are starting to respond to lower interest rates”.
In his monetary policy decision statement today RBA governor Glenn Stevens noted that "monetary policy is easier than it was for most of 2011, with interest rates for borrowers a little below their medium-term averages"
While Stevens said it was "too soon to see the full impact" of those  interest rate changes, he said "dwelling prices have firmed a little over the past couple of months" while there was also highest demand for business credit over the past six months for "several years".
“The bank is likely to be increasingly vigilant not to overstimulate the housing market, which is likely to be one of the reasons behind their decision to keep interest rates on hold," Lawless says.
“Most of the housing market indicators are now pointing in a positive direction.  Since the start of the year RP Data has been seeing a reduction in total stock levels, clearance rates have improved, homes are taking a shorter number of days to sell and vendors are discounting their initial asking prices less.  All these factors, together with the turnaround in value declines, is point to a stabilising housing market and less of a requirement for lower interest rates,” Lawless says.
Michelle Hutchison, spokesperson for financial comparison website RateCity.com.au, says even though the RBA held fire today, variable-rate borrowers will have extra money in their pockets from two rate cuts in May and June this year.
“The Reserve Bank has cut the cash rate by 75 basis points this year and lenders have passed on an average of 52 basis points to their variable home loan customers. This is worth an extra $103 per month for a $300,000 home loan,” she says.
Hutchison says RateCity.com.au expects to see more new tactics from under lenders, under pressure from the slow mortgage growth, to encourage borrowers to spend their savings or take on more debt.
Mortgage Choice spokesperson Belinda Williamson says the decision came as no surprise with the Australian economy showing positive momentum with recent rises in retail sales, housing prices and construction activity while unemployment figures and interest rates remain low.
“All of this has contributed to a small but promising rise in consumer confidence,” she says.
“However, soft inflation figures released this month show the Reserve Bank still has room to move should our domestic economy lose balance or the situation in Europe worsen.”
Ray White Group chairman Brian White says the unchanged cash rate decision won’t stop market momentum heading into spring. “Spring is season of hope. Traditionally sales volumes measure up to 15% over the levels of the preceding autumn/winter months.” “As a company we’re seeing steadily improving monthly results in post-GFC years, and most property data providers are reporting fabulous auction clearance rates and improved home values across the board," White says. “These are all wonderful signs for our market nationally. “Sentiment is key and we’re seeing purchasers spirits are picking up. We expect the RBA decision today won’t impact those prospective buyers from engaging in the market.” 
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