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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The advantages of starting your business from the comfort of your own home are clear – you keep your overheads to a minimum, you eliminate the daily commute and you can be flexible with your hours. 
But there a number of myths that surround home working. Many people can’t grasp that a serious business, rather than a hobby, can be built from your home. 
So, if you’re weighing up whether to launch your business from the spare bedroom or kitchen, here are 10 common misconceptions you must be aware of:
1. The hours are easy
<img src="/images/stories/2012/07/clocksus.jpg">
It’s tempting to think that running a home-based business involves a few hours on the computer in the morning, a nice leisurely lunch, maybe a phone call or two in the afternoon before an early finish. 
However, if your business is to be anything other than a mildly diverting sideline, you will have to put in the work. 
“When you’re by yourself, you do everything – bookkeeping, marketing, sales, the lot,” says Cas McCullough, who runs social enterprise <a target="_blank" href="https://mumatopia.com/" rel="nofollow">Mumatopia</a> and <a target="_blank" href="https://www.supportawahp.com/" rel="nofollow">Support a Work At Home Person</a> from her house. 
“All of this takes a lot of time and people underestimate this. They often take things on as a hobby and then find it is very popular and organically grows. They don’t think long term.” 
Set a strategy for your business early on, have an in-depth business plan. And consider outsourcing – it’ll save you time.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
<hr class="system-pagebreak">
2. You can sit back and get rich quickly
<img src="/images/stories/2012/07/chairsus.jpg">
Despite what the endless ads tell you, there aren’t many jobs that will earn you big bucks just by staying at home making the odd phone call. 
“You look at the content behind those stupid Google ads about homeworking and it promises that you’ll be working for about seven minutes a day,” says McCullough. 
“You can be a success if you have the right business model but, if not, you’ll fall on your face.” 
“People who are pushed into home working because they lose their job or think they will get rich quick are more likely to fall over. They set up a Facebook page and wonder why no one has turned up.” 
“It’s better to start a business that you’re passionate about. You’re then more likely to be proactive and engage with people.”
 
<hr class="system-pagebreak">
3. You don’t need to spend money on day care
<img src="/images/stories/2012/07/daycaresus.jpg">
For busy parents, working from home may seem like the ideal solution – not only do you see more of your family but you also save money on day care for your children. 
Right? 
“You will occasionally, if not regularly, need a babysitter for your children,” says McCullough. “I have regular care once a week and sometimes my husband can help out, but you need the balance as you will need to go out for meetings.” 
“Also, your business commitments won’t keep to normal working hours, when your kids may be at school.”
 
<hr class="system-pagebreak">
4. It’s not a real job
<img src="/images/stories/2012/07/realsus.jpg">
Perhaps the most hurtful myth about home-based working is that it is somehow a lesser job. That it is a frivolous hobby for bored mothers, rather than a platform for fast-growth businesses, ignoring the fact that the likes of Google and Amazon started life as home-based start-ups. 
“A lot of people tell me that it’s not a real job and I can see the irritation that causes others who work from home,” says McCullough. 
“It has got a bit of a bad rap, but just look at the number of people who work from home. Look at what many of them go on to achieve. They are worthwhile businesses and they are contributing to the economy.”
 
<hr class="system-pagebreak">
5. All you’re doing is moving your job to your home
<img src="/images/stories/2012/07/jobhomesus.jpg">
 If you’re moving from a corporate career to working from home, it’s natural to think that you can just supplant your previous working life and routine into your new one. 
Jane Shelton, managing director of <a target="_blank" href="https://www.propertyobserver.com.au/https://marshallplace.com.au/node/41" rel="nofollow">Marshall Associates</a> and author of No Workplace Like Home, advises: “It's always nice to have a steady routine in a large corporation, where there are colleagues at hand to address the various competing demands of the clients and superiors, but when the only boss you have to blame is yourself, the rules of the game must change.” 
“Time schedules have to be modified to address your role in the value chain, the demands of business development, the schedules of family, friends and of course competitive suppliers of your products and services.” 
“A better way to respond to the time schedule and routine is to look at it as a question addressed by your business and marketing plans.” 
“You will find that the way that you go about the only real task of business – creating and corralling customers – relies on a systematic focus on staying within the decision-making cycle of your clients, customer and business communities of interest.”
 
<hr class="system-pagebreak">
6. You don’t have to worry about health and safety
<img src="/images/stories/2012/07/healthsafesus.jpg">
If you are wallowing in a messy, potentially dangerous home-based office, you risk more than being called a slob. 
Not only is your own health and safety important if you are to keep running your business, but any staff and clients will need to be protected too, as a recent case where Telstra had to pay medical and legal costs for an injured home worker highlighted. 
“Ensuring that your home is a safe workplace doesn’t happen by chance or guesswork,” Shelton says. 
“It requires a systematic approach to finding and fixing hazards and risks and any particular circumstances that apply to your home working base.” 
Shelton advises going through five key steps to get your OHS in good shape:
<ol>
<li>Finding hazards that could hurt the people who either live, work or visit your home.</li>
<li>Family forums that bring together all of these people on a regular basis to make sure that they are as safety conscious as you are and undertake the safety drills that are an essential part of hazard awareness.</li>
<li>Figuring out how the people in and around your home life could get hurt and working life hazards (the level of risk).</li>
<li>Fixing identified problems by sorting out and installing the most effective risk controls that are reasonably practicable under your circumstances.</li>
<li>Following through on your risk controls and checking that they are working to cope when things do not go according to plan.</li>
</ol>
 
<hr class="system-pagebreak">
 7. Your home life will remain exactly the same
<img src="/images/stories/2012/07/homelifesus.jpg">
Home is a nice place to relax and turn off after a long, hard day at work. Surely, if you spend all day there, you will be permanently in the comfort zone? Shelton has some words of warning. 
“Firstly, map your own interests and personal priorities and then set out how the start-up is going to help you achieve your objectives,” she says. 
“Be honest with yourself and answer these core questions: How will this venture change our way of life? What do I really like doing, and how will it shape my family's future?” 
“Who can support me while I get the business up and running? Where will all this take us and what will it cost to succeed?” 
“Then you need to set aside a fixed amount of time for your business homework, when the kids have done theirs and get partners and friends to share the burden of developing your start-up as an adjunct to your family life rather than an alternative to it.”
 
<hr class="system-pagebreak">
 8. Clients won’t take you seriously
<img src="/images/stories/2012/07/jestersus.jpg">
Many budding entrepreneurs fret about the impression left upon clients by their home office. 
Obviously, you don’t want to hold an important meeting with a key client while you are both wedged on the sofa, trying to ignore the child that is watching cartoons on the TV. 
But this doesn’t mean that it’s impossible to convey a professional demeanour to clients. 
If they have to come to your house, set aside a room for meetings and ensure there aren’t any interruptions. Better still, hold the meeting at a café or at a serviced office that you can rent out by the hour. 
There are other tricks to making your business appear bigger, such as adopting a 1800 telephone number, but, ultimately, your customers will primarily care about the products or service you provide them. You working from home shouldn’t be a factor.
 
<hr class="system-pagebreak">
 9. There’s no good financial reason, other than cutting overheads
<img src="/images/stories/2012/07/chestsus.jpg">
A common rationale for working from home is the money it will save you on office space, furniture and commuting. 
But don’t be fooled into thinking that there is little other financial reason to working from home other than the overheads you’ll save on. 
Australia’s tax code is fairly generous for entrepreneurs with home offices, with deductions offered for factors such as electricity, cleaning supplies, depreciation of office equipment, mortgage interest, rent, rates and insurance. 
Indeed, the Tax Office provides a “bonus deduction” of 50% for small businesses with qualifying assets.
 
<hr class="system-pagebreak">
 
10. Being at home all day is awesome
<img src="/images/stories/2012/07/paperworksus.jpg">
Office dwellers commonly think that working from home is an indulgent luxury that they’d give their right arm to experience. 
In reality, working from home by yourself for a long period can be quite taxing. Entrepreneurs often miss the collaboration and interaction that comes with working alongside colleagues. 
Shelton says: “You need a staged plan that lists the people who are your keys to success. This means that you identify business leaders, distributors and potential customers who you plan to meet and greet.” 
“By doing this you are proactively establishing what’s new and different and can overcome that sense of being cut off by your start-up activities.” 
“Pick up the phone, send them an email and invite their comment on what you are doing.”
This article originally appeared on <a target="_blank" href="https://www.startupsmart.com.au/">StartupSmart</a>.
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cknowlton-QnEa6ntUYP

The top 10 myths about running a business from home

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Rents are expected to rise the most in the resources state of Western Australia over the next year, according to NAB's June Residential Property Survey.
With a 5% increase tipped by the 300 industry participants in the survey, WA is tipped to secure double the rest of the country.  The other major resources state Queensland is its nearest rival for rent increases. 
Expectations for Victorian landlords to secure any rental growth ought remain in the negative for the next year, according to the respondents.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/nabjuly124.gif" rel="shadowbox"><img src="/images/stories/2012/07/nabjuly124thumb.gif"></a>
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lschlesinger-FZcF9M3vE6

Rents expected rise to 5% in WA over next 12 months: NAB June Residential Property Survey

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I want to begin by saying this: I do not house any hostility towards lenders. In fact, I’ve written many times in the past about how lenders can be your best friend when it comes to starting out fresh in your property investment career. Let’s be honest; if you’re like most new investors out there, you don’t have suitcases of cash just lying around, ready to buy real estate with, so lenders can absolutely be the “determining force” in your decision to get into property investment. If no one will lend you money, well, your pipe dreams can be quickly flushed.
All of that aside, lenders are simply a means to an end. Providing that you find a lender that offers the best rate and features relevant to you, they are all pretty much the same. For many years, lenders had, quite cunningly and cleverly, marketed themselves as more of an authority over you. They did this by using a certain kind of language when discussing and corresponding in paperwork the nature of their products. Basically, they made it seem like you were locked in forever to their mortgage products. One way they did this was to charge excessive and complicated “break fees” should you ever look to shop around and move to a different financier.
The industry watchdogs, and eventually government bodies, cottoned on to these tactics and established legislation to remove all of these break fees, effectively making it much easier to switch your mortgage to a better/cheaper product in the marketplace. So you know (and it goes without saying, you need to double-check this yourself should you actually be looking at breaking a mortgaging product), banks cannot charge their exit fees anymore, however you will always have to pay the government processing fees – usually a couple of hundred dollars only – to get out of a mortgage.
There was initial fear that as a result, lenders would recoup these losses by charging heavier entrance fees into new mortgage products; however this has not really happened as yet, at least to extremes. The beauty of the removal of break fees meant that the marketplace has become more competitive, and lenders now actually have to fight their competition to get a slice of your potential custom.
For any would-be switchers out there, my advice is to do up a spreadsheet and calculate all the costs to switch out from one product into a new one. If the savings in one year’s interest repayments at the new lender’s rate is greater than double the cost to switch, it is an exercise worth doing.
When approaching lenders as a property investor – even if it is your first property – you should always make clear mention of your growth potential and desire to hold a large portfolio. Although it won’t win you any brownie points in terms of qualification and verification for mortgage products, mentioning your growth plan to them will certainly make them earmark you on their computer systems! No jokes – I’ve seen lenders who literally input an asterisk against someone’s details, which is pretty much code for “keep an eye on this one; he could be a repeat customer!” I would encourage everyone to do this when buying their first property, even if you only intend on buying a home to occupy and never an investment property.
It is therefore important to remind a lender at times just how valuable you can be as a potential “repeat customer”. Having a great mortgage broker working for you can help with this – they are able to leverage – and effectively vouch for – your future portfolio growth expansion/potential and use this as a bargaining chip to negotiate better product offerings back to you, but I strongly believe that it is always important to have a direct and solid relationship with your lender(s).
All of this is especially important when considering the times we’re living in. Finance is edging further and further down, and interest rates could fall to all-time lows. Lenders know this. They understand how the cheaper rates in market will truly change the dynamic for everyone. In fact, I attribute the recent increase in lender marketing campaigns, which heavily promote “switch to us” themes in their tactics as a response to this trend. For example, UBank from NAB has released an online home loan product offering a variable rate of 5.62%, one of the cheapest currently on offer in the market. But the bank is very quick to point out the product is only available to new customers and switchers from other lenders. Existing customers cannot get access to this product.
So as the market – investors and owner-occupiers alike – respond to cheaper finance products hitting the market, consumer confidence may begin to return. This could mean that would-be buyers, who previously held the mantra “the entire global market is too unstable; now is the worst time to take a risk” change to a mindset of “the global market might not be so stable, but darn it, rates are probably not going to be this cheap again anytime soon, so I should give this a second look”.
I’d love to hear from the community about experiences in mortgage switching – was it easy? Were there in fact hidden costs (whether it is a government cost, lender cost, or other kind of cost)? And did the old and new lenders make the process easy or hard? Also, when leaving your lender, was there a last-dash attempt to keep your custom, or did it let you go easily?
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" target="_blank">Property Spectator.</a> 
{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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cmcevoy-Go82SmsJA9

Why mortgage holders should talk to their lenders and consider refinancing: Cameron McEvoy

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The developers of the delayed 11-storey Alex Perry Residential apartment block in Brisbane’s Fortitude Valley have removed all three-bedroom apartments from the design and are awaiting council approval on a modified development application.
A spokesperson for developer Chrome Property told Property Observer there were few enquiries for the three-bedroom apartments since the project launched in May last year, complete with paparazzi and supermodels.
<img src="/images/stories/2012/07/alexperrydevel.jpg">
All apartments have been designed by Alex Perry in conjunction with Cottee Parker Architects.
A soft launch of the re-jigged project was held in June.
Three-bedroom apartments were priced at just under $1 million.
The three-bedders have been replaced with one-bedroom apartments as part of a “redefined product”, and 77 of the 143 apartments will be sold to investors as serviced apartments with a hotel operator lined up to manage them.
<img src="/images/stories/2012/07/alexperry2.jpg">
Investors are being offered 6% guaranteed rental returns for up five years net of management fees, with settlement anticipated for early 2014.
Construction is expected to start at the end of the year, with completion in early 2014.
One-bedroom apartments will start from $381,000 and two-bedroom units from $550,000.
Chrome has been reluctant to reveal sales numbers since the project was launched.
The May quarter sales update in the latest Midwood Report does not include Alex Perry Residential among its mix of apartment projects.
The latest Colliers report shows no sales in Alex Perry Residential since launch with the note that no sales figures were disclosed for the first quarter of 2012.
RP Data records show that Chrome acquired the site at 959 Ann Street for $6.27 million in March 2010.
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Alex Perry Residential redesigns Fortitude Valley, Brisbane, development as three-bedroom units seem to go out of fashion

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While today there might be many varied definitions of “family”, one the most natural ways to describe a family is a group of people living together and functioning as a single household. And no matter how we choose to describe families, be they based on social, economic, ethnic or traditional ties, the family unit has a big impact on the property industry.
By being aware of how “family formation” impacts our market we are better able to engage people at different stages of their life journey but also ensure that we are delivering product that will meet their needs. Some of the impacts are easy to highlight: with a growing family there will be a need for more space, people get married, they break up, households reduce in size as kids head off, we relocate to secure employment, health becomes an issue and this can for example lead to people looking to reduce travel times.
As we move through these cycles, the impact on the structure of the housing market is a big issue, and marketing needs to be well-versed with the changing face of the communities in which we work.
The singles market
The singles market is the starting point. It is also a demographic that is at the pointy end of the housing market (because singles are the most mobile part of the market) and it is therefore capable of generating big changes. The single person has always been the take-off point in the housing cycle, but the composition of this group is also fluid.
What might have been a typical pattern a few decades ago would have been for the majority of single persons to get a job and leave behind the family nest and for many before they were 21.
This move out of home might have also included going to university and may well have led to some years in shared accommodation, and it still does. Shared accommodation is a common first encounter with the real estate market for many people – shared rent, bonds and responsibility – the first step on the housing ladder and a target market for investors, no doubt.
Then some time after with a secure job and some money saved, the aim might have been to buy a small apartment in an area close to work so that friends and familiar things were nearby.
Today while these steps are still recognisable ones, the singles market has changed. Many young people are staying put longer with mum and da. Household sizes as a result are now increasing in real terms and this may well be fuelling future pockets and periods of pent up demand.
Singles are not only living with parents sometimes into their 30s, but also with their partners, and sometimes still in shared accommodation. There are different spins here that can be seen as impacting the demand for better quality rental apartments.
Well-paid singles are sharing expensive homes and apartments; their choice is to pay higher expenses including higher rents so that they can enjoy homes they could not normally afford alone. In many markets the rental on a million-dollar apartment may well be less than any mortgage.
Then when singles do eventually buy into the market many are looking at doing so alone. As greater numbers either do not marry or stay single longer, they look for well-located apartments close to great facilities and lots of social connections on offer.
This group then as a result, is looking for quality apartments, but they are happy to forgo space for better social access.
We have already seen for some years now, increased demand for this style of accommodation in almost every major CBD and developments have been deliberately designed to meet this demand.
Here come the kids
Single, turns to being partners and then, for some, here come the kids. The arrival of children is another big incentive and reason to consider moving house, possibly the biggest and having children has once again become a big factor in the housing market.
But in today’s market it is now more complex part of family formation because parents can be older, same sex, with more money and with a greater eye on facilities like childcare and schools. Currently birth rates are stable, we have a higher birth rate than the UK, Canada or Singapore but we lag behind New Zealand and the USA. We are not exactly a match to the 1950s and ’60s, but still growing, and a trend that will have its own set of impacts on the housing market.
What is no real surprise is where families move to as their focus and needs changes. With a trend for more children to be placed into early and ongoing childcare, the backyard is not so important. What is more important is assess to quality facilities and easy transport to and from work and home so that not all day is taken up with travel.
Couples are also having children later, and grandparents are more involved, both factors that might lead those trading house to look to stay close to established family ties.
Getting a bigger house is one of the leading impacts on the housing market. The 2011 census shows that detached homes still make up the biggest part of Australia’s housing stock at 75.6%, apartments account for 13.6% and most homes are three-bedroom, at 43.6%.
However, the figures do vary from state to state and metro region to entire states – Sydney, for instance, has to 58.9% detached homes and 27.6% apartments with terraces and townhouses making up a further 12.8% of housing stock.
As we move through the issues impacting family formation it is impossible to miss the connection between these everyday shifts in lifestyle and how they impact project marketing. Reaching out to our targets requires a deep understanding of how best to communicate and what type of product projects need to supply.
As more people live in apartments, as they live there longer, and with more families, and with varied generations; then providing residential developments that match this more complex market impacts on demand, design and construction.
Communal areas are important and more a focus being inviting shared spaces, not just utility spaces. And while care needs to be taken by not over-inflating costs, developers are keen to give buyers some ways to express their individualism.
We are seeing examples where the facades are faceted and under the control of individual owners, with balconies of varied shapes being more common and different colours used on the exterior to also give each apartment a personality. These are changes that I feel reflect how family formation is being accommodated as the apartment market matures along with shifts in target demographics.
I would be keen to have your thoughts on this very human side of the development market, and in particular are we keeping pace with the social changes and shifts taking place.
Peter Chittenden is managing director for residential of <a target="_blank" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International</a>
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The changing nature of families, and their impact on the property industry

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Elvis Presley appeared in around 33 movies that no doubt have been played on rotation in this little Gold Class cinema.
Turn on its expensive sound system, sit back in the tiered oversized chairs, and watch the giant projector screen in this deep red offering in Pakenham. This big cinema is part of a four-bedroom home, one of two residences on the 52-hectare block. The house comes with its own bar, gum hardwood floorboards; standard farm features. Presumably the Elvis memoribilla leaves with the vendors.
 
<img src="/images/stories/2012/07/hometheatre9.jpg">
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Popcorn and property: Almost a private Elvis picture theatre palace – Australia's 9th best home cinema

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It’s like going to a Gold Class cinema and having it all to yourself – plus you can pause the movie while you get another Coke and popcorn top-up. A simple TV just doesn’t suffice for a lot of home owners these days. Many enthusiasts will buy a large LED TV and an expensive sound system, which is great, but even that isn’t enough for some cinephiles. Many houses now come with home theatre rooms – rooms dedicated to the ultimate audio-visual experience.
The most opulent of offerings include banks of tiered oversized reclining chairs, giant projector screens, overhead lighting like a night sky and cinema-style furnishings. Watching a movie in a room like these really is an immersive experience, in every sense of the word.
This green room in <a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-109501446">this Bellevue Hill home</a> looks very different to the others we’ve seen, but the owners still couldn’t resist the traditional red chairs. It ranks as the 10th best cinema Property Observer has spotted in the past year or so. Just out the door of the cinema and you’ll have access to the home’s 700-bottle wine cellar. Grab a bottle on your way from the cinema to the heated pool. It was recently sold by Michael Finger of Ray White Double Bay.
<img src="/images/stories/2012/07/hometheatre10.jpg">
For a countdown on Australia's top 20 home cinemas worthy of Academy recognition – 20 through 11 click here. 
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Popcorn and property: 10th place in Australia's top 20 best home cinemas 

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Melbourne is heading for an oversupply of apartments as families head to the outer suburbs for more affordable housing to suit their needs, according to a new report by Monash University.
The report also slams the city’s current urban expansion strategy.
Titled The End of Affordable Housing in Melbourne and written by Monash University population expert Dr Bob Birrell and his team of researchers, it shows that new apartments are too small and too expensive to appeal to those family-friendly housing.
The report notes that few apartments of 110 square metres or more are being built in Melbourne.
Instead, much smaller apartments measuring less than 70 square metres are being built in the CBD and its surrounds, which are being purchased off-the-plan by investors.
“For projects in planning or under construction, the trend is towards even smaller apartments,” says the Monash report, which warns that an oversupply of these small apartments is looming.
The report also notes that cost of infill (undeveloped urban land) in Melbourne has risen to levels that most new households cannot afford because the cost of the land on which to build has escalated.
It warns that those planning Melbourne’s future have not come to grips with the causes of Melbourne’s affordability crisis, primarily to do with the costs of producing apartments, infill and fringe housing.
“Proposals to facilitate even more high-rise apartment blocks or to extend the urban growth boundary (UGB) ever further outwards —the current Victorian government’s strategy — will not provide a solution,” says the report.
However, the report does not expect a housing crash in Melbourne.
Instead, it says it is likely there will be a slowdown in dwelling construction in Melbourne because new households cannot afford the product being offered.
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Melbourne apartments too small, too expensive, but no housing crash coming: Monash's Bob Birrell

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Brookfield Residential has unveiled its approved 70-storey Sydney residential tower proposal for its Sydney Water Board site. The $211 million project will be Australia’s most slender tower and will allow almost all of the 420 apartments to have access to direct northern sun and views.
It will also be the tallest residential tower in the Sydney skyline at 240 metres, beating off Meriton's 230-metre tall World Tower, which dates back to 2004. The new tower will appear considerably taller as it is built further up a ridge than World Tower. There are five office towers that are taller than World Tower.
<img src="/images/stories/2012/07/kaanfinch1.jpg">
The 115 Bathurst Street/339 Pitt Street mixed-use project is on a 4,000-square-metre site, with a retail and commercial podium, which incorporates the adaptive reuse of its eight-storey heritage listed 1930s Pitt Street building.
Brookfield, which bought the site for $140 million in 2007, has had the project listed for sale through Colliers agent Vince Kernahan and Jon Chomley. Stage 1 development approval has been granted for the design concept by Kann Finch, according to <a target="_blank" href="https://www.architectureanddesign.com.au/article/Kannfinch-design-Sydneys-super-slim-and-tallest-tower/534738.aspx?utm_source=20120718&amp;utm_medium=email&amp;utm_campaign=newsletters">Architecture and Design.</a>
The previous Brookfield images showed its building envelope (pictured below).
<img src="/images/stories/2012/07/brookfield.jpg"> 
For more about Sydney's present and future, download our free eBook<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-sydney-embracing-the-world-of-tomorrow"> Sydney: Embracing the world of tomorrow</a>
 
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Brookfield secure approval for slimline Sydney tower development to be city’s tallest residential high rise

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HatchMyHouse.com allows the bride and groom to involve friends and family in their quest to purchase or decorate a marital home. They can build a graphic of their desired home and set a range of prices for the marriage registry such as $25 for a flower pot, $200 for a bay window, $900 for a marble column, or an unlimited amount for a home deposit.
To date the service claims to have helped couples raise more than $543,000 towards a house deposit. The US-based HatchMyHouse also operates in New Zealand and Canada and Australia, although its testimonials don’t have any apparent Australian couples. It's been going for about two years.
<a href="https://twitter.com/hatchmyhouse" target="_blank"><img src="/images/stories/2012/07/hatchtweet.jpg"></a>
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