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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More Australians are now opting to live alone, pushing up demand for one-bedroom and studio apartments.
Census 2011 data shows there are now 1,888 million lone-person households, 148,000 more than there were in the 2006 census.
The census data also shows there are also 50,000 more one-bedroom apartments than there were in 2006, with numbers rising from 317,000 to 363,000.
Proportionally, one-bedroom apartments account for 4.7% of all property types, compared with 4.4% in 2006.
According to the  government’s State of Australian Cities 2011 report, demand for studio apartments and one-bedroom units looks set to increase as the proportion of people living alone continues to rise.
The proportion of lone households is forecast to grow from 24% to 28% by 2031, according to ABS estimates.
<img src="/images/stories/loners.gif">
Source: ABS
By 2031 there will be more than 3.2 million lone households in Australia, an increase of 1.4 million from the 1.9 million lone households measured in the 2006 census. 
The increase in the number of lone-person households will be highest in the largest capitals, Sydney and Melbourne, but the rate of growth will be equally as high in Perth and Brisbane. 
<a href="https://www.propertyobserver.com.au/new-south-wales/sydney-cbd-s-10-cheapest-studio-apartments-starting-from-%24255000/2012073155743" target="_blank">Property Observer has found the 10 cheapest studio apartments for sale in Sydney CBD, starting from $225,000.</a>
According to the 2006 census, the gender ratio (number of men to 100 women) in lone-person households was 79.4. 
The gender gap is expected to widen further to 77.4 in 2030 due to life expectancy being higher for women than men.
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Demand for studio and one-bedroom units to increase as Australians go it alone

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First-home buyers in NSW thinking of buying a new home will be eagerly awaiting October 1, when up to $35,240 will be available to them in the form of government handouts.
In Victoria, first-home buyers will get an extra 10% cut from their stamp duty bill from the start of 2013.
However, first-home buyers in the Northern Territory only have until October 1 to receive up to $17,000 in territory government handouts.
Here are the key dates and details you need to know:
 
October 1 
NSW
$15,000 available under First-Home Owner Grant (New Home) scheme 
The <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/">new first-home owner grant scheme kicks</a> in offering $15,000 to first-home owners who purchase or build a new home valued at up to $650,000 up until December 31, 2013, reducing to $10,000 from January 1, 2014.
First-home buyers have the potential to earn up to $35,240 when combined with the existing <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/first_home_new_home/">First Home—New Home</a> scheme, which provides exemptions on transfer duty on new homes valued up to $550,000 (a maximum exemption of $20,240) and concessions on transfer duty for new homes valued between $550,000 and $650,000.
From October 1, first-home owners buying an existing property will not receive any financial assistance from the state government.
For non-first-home buyers, a grant of $5,000 is currently available for new homes purchases, whether off the plan or newly built under the <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/grant_scheme/">NSW New Home Grant Scheme</a>. It applies for homes up to a value of $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
October 1 
Tasmania
Changes to stamp duty rates and thresholds
From this date <a href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers">r</a><a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers">evised stamp duty rates and thresholds kick in</a>. The top marginal tax threshold rate on stamp duty will be increased from 4% to 4.5%, kicking in at $725,000, up from the current $225,000. The current top marginal tax rate is $6 550 plus $4 for every $100, or part, by which the dutiable value exceeds $225 000. The new top marginal tax rate is $27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725 000. The lowest band, where only $20 is payable remains at $1,300 but all the other bands have been widened while the duty payable rates for these bands have also changed. Middle-class Tasmanians will be hardest hit, with duty on a property valued at $375,000 almost doubling from $7,150 to $12,935.
The current and new rates can be<a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/380146A04610A996CA25758B000686E0?OpenDocument&amp;menuitem=Property%20Buyers"> found here</a>.
The Tasmanian government also <a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/Property%20Transfer%20Duty%20Calculator?OpenDocument&amp;menuitem=Property%20Transfer%20Duties">provides a calculator </a>to work out how much stamp duty is payable before and after October 1.
December 31
Northern Territory
Cut-off date for $10,000 BuildBonus
This is the last day for Northern Territorians to take advantage of already twice-extended <a href="https://www.nt.gov.au/ntt/revenue/home_assist/buildbonus.shtml">$10,000 BuildBonus</a>.  The scheme provides a $10,000 grant to home buyers and investors, including companies and trustees, that sign a contract to purchase or build a new home (including signing a contract for a house-and-land package), purchase a new unit (including off the plan) or commence construction of a new home as an owner builder, between May 3, 2011 and December 31, 2012 inclusive.
The BuildBonus is not means tested but the value of a new unit or new home or the total construction cost of a new home (including the value of the land on which it is built) is capped at $600 000. The BuildBonus is available to first-home buyers, in addition to the first-home owners' grant. This means that eligible first-home buyers will receive grants of up to $17 000. In addition, buyers purchasing a new unit or land to build a new house may also be <a href="https://www.nt.gov.au/ntt/revenue/calculators.shtml" target="_blank">eligible for stamp duty home incentive schemes</a> of up to $26,730 (the duty owned on the first $540,000 value of a property) and no land tax.
January 1, 2013
Victoria
Increased stamp duty discount for first-home buyers
From the start of the new year, Victorian first-home buyers who qualify for the $7,000 first-home owner grant (FHOG) will <a href="https://www.sro.vic.gov.au/SRO/sronav.nsf/childdocs/-434C7502A60F23E4CA2575A100442158-E11C62FEDA1CD76ACA2575D60028321F-BE036AC37C8DE365CA2579F4001C7B64?open">also be eligible for a 30% reduction in their stamp duty</a> bill with the stamp duty reduction increasing from 20% to 30% for home valued up to $600,000. This is the first part of a phased increase to stamp duty discounts, which will rise to 50% with two further 10% discount increases on January 1, 2014 and September 1, 2014.  The raising of the stamp duty discounts follows the ending of the $13,000 first home bonus on June 30. For details of the stamp duty savings for first-home buyers, <a href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7">click here</a>.
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State by state government housing handouts: The new dates you need to know

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There’s a new wave of financial services migrating beyond the computer and onto phones and tablets, as well as moving into social media such as Facebook.
But as these services migrate onto a device that fits in the pocket, people still need something more.
In my current business, Yellow Brick Road, we’re opening branches at a rate of one per week nationally, simply because people still want face-to-face discussions about their affairs.
The key, in my opinion, lies in the difference between the financial services you can turn into a “product”, and those you cannot.
People are happy to use financial products, but they really want advice.
The Nielsen Pacific Global Survey of Investment Attitudes was released a few weeks ago: 70% of Australians used the internet for banking and investment transactions in the previous three months. But the same survey also found that 54% of Australians had visited a physical bank branch in the previous three months.
This shows a nation that is using products but still need to be able to talk about more complex matters such as mortgages, life insurance and super.
It’s a quaint picture of a technology-driven country with a traditional heart. But the problems are in fact, far from quaint. An example of this could include our superannuation system, which puts the onus for retirement investment on the individual.
The first port of call for most people with super is not an advisor, but a product. The super fund member is mailed a brochure with describes the various products and the member ticks the boxes and sends it back.
The Nielsen survey showed just 16% of Australians currently rely on a financial planner or adviser, while 57% preferred to be in charge of their investment decisions.
Now consider the fact that 70% of investment-focused Australians currently maintain a shareholding of stocks, the worst performing assets.
I believe there are many forces that have pushed Australians away from being advised on their investments and their retirements.
Most banks don’t offer advice unless the customer is a wealthy “private client”; stockbrokers don’t give you the full service unless you have a certain amount to invest; and the superannuation funds have become the product.
That leaves the independent advisers and planners, who many Australians avoid because there is either a trust problem or the costs are perceived to be too great.
More should be done by the superannuation industry, the ASX, the government and regulators to encourage people to seek advice around complex and crucial financial arrangements.
However, people have to show some initiative in these matters and decide what’s really important. Most people who seek expert advice get something out of it: an insurance broker reducing your premiums; an adviser finding a lower fee super fund; a mortgage broker finding you a better loan or an accountant getting you a better tax result.
Aussies need to rethink how they balance financial products with advice. A product fills a need; advice is planning for life.
<div>
<div>Mark Bouris is executive chairman of <a target="_blank" href="https://www.ybr.com.au/" rel="nofollow">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.</div>
<div>
For more, <a target="_blank" href="/news">view our free webinar Refinancing and the Interest Rates Riddle.</a>
</div>
</div>
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mbouris-tauSvXGAM2

Australians need to embrace wise financial planning

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Twenty six out of the 27 economists polled by Bloomberg today expect the Reserve Bank to leave the cash rate unchanged at 3.5% at its monetary policy meeting on Tuesday (August 7).
Only Stephen ‘The Kouk’ Koukoulas – former economic advisor to Julia Gillard and soon to be Business Spectator columnist – expects the RBA to cut the cash rate to 3.25% next week.
Koukoulas heads up macroeconomic advisory firm Market Economics and his economic commentary on Business Spectator, now owned by News Limited, is highly anticipated given his leanings.
Not only is Koukoulas forecasting a rate cut next week, he is also anticipating at least two more 25 basis point rate cuts before the end of the year, taking the cash rate down to 2.75%.
A frequent tweeter using the handle @TheKouk, he acknowledged today that interest rate markets are pricing in just a 20% chance of a rate cut in August.
The median forecast among economists surveyed by Bloomberg is for just one more 25 basis point rate cut this year.
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Stephen ‘The Kouk’ Koukoulas a lonely voice as economists almost unanimous on RBA cash rate hold next week

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<img alt="55lavander_0000_55lavander.jpg" height="300" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/55lavander_0000_55lavander.jpg.jpg" width="400">

Actor Nicole Kidman has not just enlarged her Milsons Point 21st-floor penthouse space in her recent acquisitive property purchasing.

A search of the Latitude building apartment records indicates she has also spent $2.68 million on a 19th floor apartment which is utilised in part as a home office.

The previously unrevealed 2011 home office purchase was through a holding company not previously associated with the international celebrity.

[smartcode_project:default project_id=32227]

Last week the actor settled on the purchase of her adjoining <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/nicole-kidman-expands-her-milsons-point-penthouse/2012073055775">Milsons Point penthouse</a> space at a reputed $7 million outlay on the 21st floor. It improved her Sydney Harbour Bridge views being at the southern end of the block. Kidman's earlier purchase was in 2009 at around $6 million.The initial 21st-floor penthouse acquisition was bought from the Wizard founder Mark Bouris, whose family company bought it off-the-plan in 2005 for $4.75 million.

She's altogether spent about $15.6 million high above Lavender Bay.

Nicole lovers her water views as she's on the Hudson in New York. Her initial condominium investment is on the 12th floor of the West Village's renowned Richard Meier-designed twin Perry Street towers (below left) complex. The 350 square metre fishbowl cost about $US8 million when bought off-the-plan in 2003 in the name of her trustee, sister Antonia. It was reported Kidman had unsuccessfully begged the developers to install a secret passage between the apartment and the garage.

<img alt="nicole-kidman_420" height="300" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/nicole-kidman_420.jpg" width="400">

Just two kilometres along West Side Highway from West Village, Kidman subsequently spent $US9.67 million in Chelsea, the heart of Manhattan's art district.

Her two-level, 220 square metre fourth-floor digs (above right) are diagonally across the road from the Gagosian Gallery, and its enormous southern walls are an art collector's dream. The development was marketed as the first high-rise with own-floor garages, which are accessible via a car lift.

Blainey North, the Sydney interior decorator of the moment, has scored the dream decorating design job of the combined 798 square metre penthouse. She’s billionaire James Packer's preferred decorator.

North was first spotted by the mainstream press when shortlisted in the 2005 The Interior Design Awards, but has since barely rated a mention in the Sydney newspaper columns other than when she married Russell Crowe’s personal assistant, Keith Rodger in mid-2011.

North is known to be a fan of art deco with a restrained colour palette, and the use of wood panelling and chrome accents.

Indeed her first home – sold in 2010 to model Lara Bingle at $882,000 – was in an art deco Darling Point apartment complex.

It was a renovated, one-bedroom unit with city and harbour views from most of its 65 square metre space, which North had secured for $700,000.

It featured elegant American oak parquetry flooring.

Her bespoke projects have included the 54 Park Street spa where Nicole Kidman is known to work out.
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jchancellor-FAypfDUnLy

Actor Nicole Kidman secures third apartment in Milsons Point Latitude high-rise complex: Title Tattle

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An almost 5% drop in residential properties listed for sale online over July, led by big monthly falls in Melbourne and Sydney, may indicate the housing market is close to entering "recovery mode", according to SQM Research.
SQM Research calculated that online residential listings fell by 4.9% in July led by falls in Melbourne (12.6%) and Sydney (8.7%) to reduce to total listings to 368,081.
This means listings are now down 2.4% when compared to 12 months ago when SQM Research recorded 377,213 residential listings as of  July 2011.
<img src="/images/stories/2012/sqm_research.jpg" width="598" height="183" alt="sqm_research">
SQM Research says that seasonally it is expected that stock will decrease during the winter periods.
However, “a decrease of this magnitude could be seen as the first signal that stock is being absorbed quicker than previous months".
“Indeed, if stock continues to decrease in the months ahead, this could be a potential indicator that the housing market is entering into recovery mode,” says SQM Research.
SQM Research director Louis Christopher added that while it is early days, the July decrease in listings "could be an indicator of a turning point in the market".
“We also note that nationally, there is now less stock on market than this time last year. Brisbane, Darwin, Perth and Sydney all have less listings in the market compared with July last year,” he says.
Apart from the weak Hobart market, where residential listings increased by 0.2% over July (Hobart is also the weakest market over the past 12 months with listings up 29%) all other capital cities recorded declines in online listings over the month.
Melbourne experienced the biggest monthly decline with online listings falling from 55,293 to 48,322 over July – but listings are still 4.8% above the 46,087 recorded in July last year.
Sydney listings fell from 32,390 to 29,574 over July to be down a healthy 10.2% on the 32,917 properties listed for sale a year ago.
There were also strong monthly declines in Canberra (-7.3%) with more modest declines in Darwin (-4%), Perth (-3.5%) and Adelaide (-3%).
Darwin has experienced the biggest yearly decrease with online listings down 28.6% decline followed by Perth (-15.5%) and Brisbane (-11.8%)
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Melbourne and Sydney lead 4.9% monthly drop in online residential listings suggesting market may be entering "recovery mode": SQM Research 

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The Reserve Bank will leave the cash rate on hold next week with 75 basis point in cuts passed over the past three months already supporting the interest rate-sensitive sectors of the economy, including housing, according to HSBC Australia economist Paul Bloxham.
However, the RBA is still leaning towards a rate cut sometime in the fourth quarter of the year, he says.
His comments follow the ABS house price indexes for the eight capital cities showing a 0.5% gain over the June quarter and an upwardly revised 0.1% decline in the March quarter.
The following chart prepared by HSBC (with the interest rate inverted) shows how house prices have responded to the reduction in mortgage rates
In addition, retail trade figures also released this week showed that Australian retail turnover rose 1% in June 2012 – better than market forecasts of 0.6% while May figures were also upwardly revised to 0.8%.
Bloxham also believes that the residential construction cycle may have bottomed out.
“After jumping sharply in May, building approvals held onto most of the gains in June, which was an upside surprise.
“While approvals for detached house construction have continued to slide, medium density approvals rose, and it is likely that the residential construction cycle has troughed.
“Housing prices are starting to lift. Finally, retail sales numbers came in strong for the second quarter, which suggests that household consumption will be well supported in the quarter,” he says.
Bloxham also says that the rate cuts in May and June have “accounted” for the easing in global conditions and the RBA is now “ahead of the game.
He adds that despite reports to the contrary (most notably from Deloitte Access Economics), “there is still significant support for growth to come from mining, both in the form of further investment and rising exports”.
“In addition to the policy decision on Tuesday, next week brings the RBA’s August official statement on Friday.
For tips on refinancing and trying to navigate the current mortgage rates riddle, watch Property Observer's recent webinar: <a href="/news">How smart property buyers and investors should approach refinancing in the current environment</a>
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Rate cuts flowing through to housing so no RBA rate cut next week: HSBC’s Paul Bloxham

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Bearish economist Steve Keen remains emphatic there is a housing bubble in Australia, but says high debt levels are keeping it from deflating.
Following the release of ABS June house price indices showing a quarterly gain of 0.5% and big revisions to the March figures suggesting no fall, Keen admitted that he had got it wrong on households deleveraging
“…it appears that [house prices rose] because mortgage debt has accelerated. So I guessed wrong” he tweeted on August 1.
Yesterday, Keen adjusted his views on the rate of decline of Australian house prices blogging that Australian house prices declines were now tracking the “slow bleed of Japan, but nowhere near the decline experienced in the USA”.
“By this point—two years after house prices peaked—US prices were down by just over 20%. Instead, Australian prices are down by just over 9%, which is indistinguishable from the Japanese fall of just under 8.9% at the same point in its house price deflation,” Keen blogged.
Then with a heavy dose of irony he went on to note the differences between Australia and the US could be that “There is no Australian house price bubble.”
 But this comment though was preceded by an “irony alert.”
And today he confirmed to Property Observer that he is still very bearish on the housing market.
“I was being ironic: I'm emphatic that there is a debt-driven bubble, and the only reason it hasn't deflated is because debt levels have remained high,” he said.
Keen says this acceleration in debt levels won’t last and he will provide his reasons when he next blogs in the coming weeks – he is currently recovering from knee surgery.
Australian Financial Review columnist Christopher Joye has hit back at Keen's contention that Australian mortgage debt has accelerated <a href="https://christopherjoye.blogspot.com.au/2012/08/who-is-steve-keen-trying-to-fool-charts">in a post on his own blog</a>.
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We still have a housing bubble, but rising debt unexpected – Steve Keen

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Widespread media reporting earlier this week suggested that Australia’s mining boom was near its end. Radio broadcasts, tabloids, even Channel 10’s The Project – they all lead with headlines claiming that our mining boom would end in two years.
Had the reporting stemmed from an article written by some random journo I would have given it the usual through-to-the-keeper treatment. To hear that credible economics advisory firm, Deloitte Access Economics, was the apparent source of these statements almost made me choke on my morning coffee. The copious amount of reports and articles that I’ve read over the last few years must be written in a language that I don’t understand.
I’ve been on record describing this not as a “mining boom” but a “resources revolution”. Suddenly, I’m hearing that the large volumes of natural resources which are responsible for powering up so many electricity sockets around the world, not to mention Australia’s own economy, is about to come to a grinding halt. Is someone going to turn the lights off?
From dirt to dollars
A number of the locations which we’ve been buying investment properties in over the last couple of years have benefitted from the economic stimulus from the mining sector. That said, they have all been strategically selected locations with a stable population base, a diverse mix of industries that contribute to the local economy, an abundance of employment opportunities, and demand for accommodation which is not matched by comparable supply.
Suggestions that the mining boom will end in 2014-2015 is misleading. But hey, it makes a good headline so the media will always milk that for what they can.
What is true is that the timeline for completing construction of much of the $240 billion in fully approved major projects is around 2014-2015. What is also true is that there are a number of factors which are deterring large resource companies (especially foreign companies) from investing in additional major projects. I also think policymakers need to be more proactive in developing other buoyant industries.
What has been overlooked by the doomsayers however is what happens when construction of these projects is finished – they are built for a purpose not for practice!
It’s not until key infrastructure such as processing plants, ports, pipelines and railways are constructed that those valuable resources below the dirt can be converted to dollars. That’s when commodities such as coal, gas and iron-ore are processed and exported to the likes of China, India, Japan, South Korea and France. That’s when our governments start to receive billions of dollars in extra revenue each year in the form of royalties. That’s when some of Australia’s biggest companies expect to return bigger profits, which will affect retail superannuation holdings. That’s when consumers will start seeing some of the fortunes promised by Treasurer Wayne Swan – tax cuts, increased superannuation contributions and infrastructure projects. Supply contracts which underwrite these royalties are on terms of up to 20 years.
Suddenly, now that (alleged) end to the mining boom has quite a wag in its tail. Mining doesn’t stop when construction finishes – it starts! The proponents need to get a return on their investment.
To suggest that the mining boom is near an end is admission of shortsightedness. Disregard the doomsayers for a minute and think about this logically. In Australia and around the world, are we likely to continue to breed, thereby resulting in continued population growth? In Australia and around the world, are we likely to continue to manufacture, produce, process and construct? If the answer to both these questions is “yes” then in Australia and around the world we will need more fuel for electricity and steel. If the answer is “no” then we all better stock up on candles.
Australia has some of the biggest reserves in the world of thermal coal and gas (both used in power generation) and iron-ore and coking coal (both used to produce steel). With the world’s pledge to reduce pollution the demand for gas-powered electricity will continue to skyrocket.
A majority of Australia’s natural resources are contained in Western Australia and Queensland. Consequently, the economic fundamentals of these states are the best in the country. And, many of the best property investment opportunities are also in these states.
It’s called the Asian “century” for a reason
Over this last decade the world has become acutely aware of the abundance of natural resources contained within Australian soils. Over the same decade most of Asia (home to 60% of the world’s population) has entered an era of mass urbanisation; an era which is expected to last so long that it is referred to it as “The Asian century” by people, including our very own Prime Minister.
Asia’s demand for natural resources is propelled by its enormous population, its ambition to transverse from an undeveloped to a developed region, and considerable financial capacity to support this.
Forecasts are for Asia’s middle class to explode from approximately 0.5 billion people to 1.7 billion over the next decade. Australia’s total population is only 22 million.
These changes in Asia are structural, they are real, and they will be long lasting. These changes have already altered the landscape for Australian property markets. To explain these changes we have produced a <a href="https://www.youtube.com/watch?v=4gNXE-J4Ge4&amp;feature=plcp">short educational video</a>.
To suggest that the mining boom is near an end is an omission of the important role which Australia will play in “the Asian century”.
There will always be demand for Australia’s resources. In addition to the $240 billion in approved projects there is a similar value in proposed projects. Future project volumes will ebb and flow depending upon the economic and political climate at the time.
The biggest challenges stopping Australia from realising greater potential from additional resource projects include heavy taxes imposed on the mining industry and the lack of confidence/certainty that foreign investors have in our government. The inability of governments to contribute their own funding to some of the infrastructure required (ports, roads, rail lines), the cost and availability of skilled labour, and lost productivity due to industrial relations unrest are also inhibitors.
The opportunities to Australia from “the Asian century” extend well beyond the mining sector. As featured in our video, there are opportunities for agriculture, education, health and tourism.
Glass half full
As a nation, we need to stop moaning and start embracing the opportunities. It’s been four years since the onset of the GFC. Australia’s economy has been strong throughout, yet we persist with paranoia about Europe. Asia continues to boom, yet we continue to worry how long it will last. And the opportunities for our mining sector are enormous, yet we’re trying to predict how long it will last.
Those of us who naturally have aspirations for success look at problems and see solutions. Those of us who are naturally positive people don’t sit idle because of perceived risks; we look to mitigate and maximise opportunities. And those of us looking for confirmation don’t look towards governments or the media; we look at industry leaders and achievers.
For reassurance we should listen to people like Reserve Bank Governor Glenn Stevens who recently said: “Most Australians I encounter who return from overseas remark how good it is to be living and working here. We are indeed ‘lucky’ in so many ways, relative economic stability being only one of them.”
For direction we should follow the doers not the doubters. People like James Packer (entertainment and tourism), Gerry Harvey (retail) and Andrew Forrest (mining).
Leadership from government and business is integral to Australia cashing in on the Asian century. Regrettably, we shouldn’t hold our breath while waiting for this to occur.
Some friendly advice for those of us who are serious about goals and aspirations – focus on the opportunities, tell those around you to stop arguing about how to fix the problems, and remind the doomsayers to stock up on those candles before the lights go out.
Simon Pressley is a buyers' agent for <a href="https://www.propertyology.com.au">Propertyology</a>.
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spressley-sBoeMhannA

Decrying the end to the mining boom hysteria: Simon Pressley

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Apart from a few “pockets of weakness” mortgage delinquency rates have stabilised in Australia, according to lenders mortgage insurance (LMI) provider Genworth following the release of improved quarterly results.
The overall delinquency rate among the portfolio of loans Genworth insures decreased by 2 basis points to 0.52% as the Australian arm reported a profit of $US44 million for the June quarter, reversing a $US21 million loss in the previous quarter.
New delinquencies in the quarter totalled 3,556, up just one from 3,555 in the first quarter, but well down on the 3,983 new delinquencies reported in the second quarter of 2011.
<img alt="deliquencies" height="316" width="321" src="/images/stories/2012/deliquencies.jpg">
Ellie Comerford, CEO of Genworth Australia, said new delinquencies were consistent with first quarter levels.
She said Australian business is on track to achieve its full year goals following a “solid performance” with the insurer benefited from refinancing activity.
Genworth and QBE LMI (formerly PMI) are the two biggest providers of LMI in Australia, which is insurance taken out by lenders to cover losses should a borrower default on their home loan. LMI is generally required to be paid by borrowers who borrow more than 80% of the value of their home.
Genworth has arrangements with around 100 lenders.
Comerford told Property Observer that one of the pockets of weakness remains the Queensland coastal market - despite the delinquency rate improving from 1.13% in the first quarter of the year to 1.05% in the second quarter.
Genworth paid out 128 lender claims on delinquent loans for properties on the Queensland coastal market, slightly down on the 128 paid in the previous quarter.
Comerford blamed the continued weakness on the Queensland coastal market on the high Australian dollar impacting on what is a heavily tourism-dependent region of the country.
The other pocket of weakness was small business owners and the self-employed (borrowers that usually take out higher interest low-doc loans), which she said continued to come under pressure.
Genworth paid 770 LMI claims in the second quarter of the year down on the 852 paid in the previous quarter, but nearly double (393) the number paid in the corresponding period last year.
The average value of claims also increased from $77,000 to $91,000 quarter-on-quarter.
“Paid claims were elevated in second quarter, but we are working with lenders and borrowers and expect reductions in the coming year,” Comerford said.
On a state-by-state basis the highest delinquency rates were recorded in Queensland (0.76%) – though the sunshine state’s delinquency rate improved from 0.8% in the first quarter of 2012 with the lowest delinquency rate in Victoria (0.36%).
The other states where Genworth provides LMI were all in line with the national average.
Genworth also recorded an improvement in the 2007-2008 GFC vintage delinquency rate from 1.25% to 1.17%.
The global Genworth business- including its main US business posted a profit of $US76 million for the second quarter following a loss of $US136 million in 2011. New US delinquencies fell from 17,430 in the first quarter to 16,167 in the second quarter – the fourth straight quarterly decline.
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