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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Sydney’s beachside suburb Tamarama is now Australia’s most expensive suburb for real estate according to RP Data, after growing 38% in the past five years.
With a median house price of $4,337,500, the glitzy suburb has the highest median house price in Australia.
Affectionally known as Glamarama, the suburb also <a target="_blank" href="https://www.propertyobserver.com.au/residential/buyers-pay-a-high-premium-for-every-square-metre-of-inner-city-living-cameron-kusher/2012071154475">recorded the highest rate per square metre, at $11,449 with an average lot size of 379 square metres in a report prepared earlier this year by RP Data.</a>
Tamarama plucked the prime position in the median price list from Point Piper, which has now dropped off the list following a difficult time for high-end real estate.
RP Data’s Cameron Kusher says Tamarama’s limited supply of houses, many with ocean views, has led to the high median prices.
He says there have been recent introductions of more small lot housing, contributing to the higher rate per square metre.
The suburb is known as Sydney’s home of the rich and famous.
The suburb is also home to one of Australia’s oldest surf life-saving club, which claims to have never lost a life to the surf despite often treacherous conditions.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-tamarama-nsw-2026/142367">The four-bedroom hilltop property 29 Thompson Street</a> recently sold for $7.9 million after trading for $4 million in 2003. The 575-square-metre property was listed for 29 days. It was sold by McGrath agents Bethwyn Richards and Ben Collier.
The most recent sale listed on RP Data is the <a target="_blank" href="https://www.century21.com.au/property/57521/">three-bedroom 29 Tamarama Street</a>, which sold for $1.09 million. The 316-square-metre property last traded in 1987 for $120,000. It was sold by Century 21 agent Nicholas Armstrong-Smith.
One of the cheapest sales in Tamarama this year was the two-bedroom unit 13/3 Pacific Avenue, which sold for $880,000 through McGrath agent Simon Exleton.
Sydney has seven of the 10 most expensive suburbs in Australia, Perth has two and Melbourne has just one.
In second place was Perth’s Peppermint Grove at $3.4 million, followed by Sydney’s Bellevue Hill ($3.3 million), Vaucluse ($2.9 million), and Double Bay ($2.5 million), Melbourne’s Toorak ($2.5 million) and Perth’s Dalkeith ($2.2 million).
News Limited reports top-end suburbs including Woollahra, Balmain East and Neutral Bay in Sydney, Armadale in Melbourne and Newstead in Brisbane all slipped in the rankings, with falls in median property prices of up to 24% in the last 12 months.
In the $1 million-plus market, Point Piper had the worst falls, with median unit prices dropping 41% in the past year.
Recording the biggest growth in Australia for the year, Queensland’s mining town of Moranbah, 150 kilometres inland from Mackay, recorded a 46% highest increase in median house prices to $682,000.
North Booval, a suburb of Ipswich, Queensland, was the weakest performer for houses, with median price falls for the year of 44% to $154,000.
For apartments, Currumbin in the Gold Coast was the best performer, with a median price jump of 48% to $565,000.
The biggest fall for units was in central Queensland’s Lammermoor, with prices dropping 46% to $166,000.
House prices fell in all capital cities, led by 5.5% falls in Sydney, followed by 5.2% in Brisbane, 5% in Melbourne, 4.1% in Perth, 3.8% in Adelaide, 3.8% in Darwin, 1% in Hobart 0.9% in Canberra.
Units in Darwin and Canberra recorded the only increases during the year, with both recording increases of less than 1%.
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Tamarama shines as Australia’s most expensive property market as downturn costs Point Piper its crown: RP Data 

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The number of homes listed for sale in Melbourne has increased four times faster than the national average over the past year, according to figures from RP Data. 
For the year to July 8, Melbourne residential listings have risen 31.5%, compared with a combined 8.2% rise in the capital cities.
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<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/rpjuly13.gif"><img src="/images/stories/2012/07/rpjuly13thumb.gif"></a>
It’s a similar picture statewide, with Victorian residential listings increasing by 33.2% over the year to July 8 to 70,124 while nationally they have risen 9.6% to 301,414
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/rpjuly131.gif"><img src="/images/stories/2012/07/rpjuly131thumb.gif"></a>
The RP Data figures break down listings into new listings (those properties that haven’t been advertised over the past six months) and re-listings (properties that have been advertised at least once previously over the past six months). 
The Victorian figures show that just 10,147 out of the 70,124 listings are new listings, compared with 9,572 out of 52,633 a year ago. 
In comparison NSW are up 9.6% for the year to 78,847 (11,535 are new listings), with a smaller 6.6% rise in Sydney. 
The issuance of the residential listing stats from RP Data and <a target="_blank" href="https://www.propertyobserver.com.au/residential/brisbane-and-perth-residential-stock-on-market-declining-while-sydney-static-and-melbourne-at-new-high-louis-christopher/2012071155535">SQM Research</a> within 10 days of each other invites comparison. 
The SQM Research figures calculate a total of 386,857, which is 85,443 more than the RP Data count. 
<a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-listings-jump-61-in-june-to-55293-sqm-capital-city-stock-on-market-report/2012070455437">SQM records a 28% rise in Melbourne listings to just over 52,000</a> but just a 1% rise in Sydney listings to 32,390. 
RP Data figures are based on a direct data feed from “Australia’s largest real estate portal” with duplicates removed and the data cleansed by being matched with the RP Data ownership database. 
Outside of Melbourne and Victoria, the RP Data figures show that more properties are being bought and sold in the mining states, with WA recording a 4.6% decline over the past year to 32,851. 
Perth residential listing are down more than 11% over the year, while they are down 3.5% in Brisbane and more than 14% in Darwin. 
Nationally, new listings have declined by has declined over the past year and are 4.6% lower at 42,473 (8% down across the combined capital cities) and 38.4% lower than the historic peak. 
According to RP Data new listings are currently at virtual record low levels, excluding the Christmas and New Year periods. 
“Lack of absorption appears to be the issue here,” says RP Data senior researcher Cameron Kusher. 
He says transaction volumes are tracking about 13% lower than what was recorded at the same time last year and adds that homes are taking longer to sell; both of these factors are contributing to the higher stock levels.
“An encouraging sign for the market is that conditions are improving with selling times trending shorter over 2012 as well as a subtle improvement in transaction volumes.
“The fact that new listings have also been diminishing is resulting in a reduced level of effective supply,” says Kusher.
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Melbourne residential property listings rising four times faster than national average: RP Data

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The Sandringham Hotel in Sydney is now in the control of receiver Ferrier Hodgson, which is looking to sell the pub immortalised by The Whitlams in the songs God Drinks at the Sando and Blow Up the Pokies.

The Whitlams started playing at The Sando, and Blow Up the Pokies referred to the decision by the pub's previous owner to replace the stage with gaming machines.

Tony Townsend, owner of The Sando, says the receivership was "all a bit of a surprise" after Bankwest called in a $3.2 million loan facility.

"We had only informed the bank the previous week that we thought we had a solution for refinancing that would take a week or two weeks to settle," says Townsend.

"On Monday I went to the bank to bank the weekend takings, I paid all our suppliers, and then I was on the phone to my broker about the refinancing when I got a call from downstairs to let me know that three suits were downstairs and they served me their notice."

Townsend says the appointment of receivers means refinancing is very unlikely, which is "very sad".

"The problem is The Sando is actually profitable but we were leveraged very high, we were around 65% when the bank called in its facility and instead of rolling the bill over they decided to call it in," he says.

Once Bankwest called in the facility, Townsend was given seven days to pay $3.2 million.

"After the global financial crisis all the loan-to-value ratios were lowered by the banks from 75% to now the standard is 65% to 50%, and we were well over that, so couldn't refinance in that time," Townsend says.

"Within four weeks of that notice we were then in breach and our interest rates went from $16,000 to $48,000 a month because of the penalties and it just became something we couldn't service.

"We were in a position where we could not even service the penalty interest."

Townsend says he tried to save the pub through a failed bid to sell the building and lease it back but he now owes Bankwest $3.65 million and is 12 months down the track with receivers in place and personal assets tied up.

"I spent way, way, way too much money trying to save the hotel," he says.

"Since the introduction of the smoking legislation there has been a heavy pounding on the hospitality industry."

The hotel was up for sale last year but failed to sell, according to pub website <a href="https://www.theshout.com.au/2012/07/11/article/Iconic-Sydney-pub-Sando-with-receivers/CXNUGHVMTE" target="_blank">TheShout.</a> 

The Sando underwent major renovations in recent years, according to TheShout.

Townsend says the receivership of The Sando is a symptom of the tough times the hospitality industry is experiencing, particularly in Sydney.

He points to <a href="https://www.smartcompany.com.au/leisure-and-gaming/20110121-pub-group-icon-hospitality-collapses-into-receivership">Icon Hospitality,</a> which went under, and Woolworths' application to the Australian Competition and Consumer Commission last week for approval to buy 30 hotels from another group.

"You have got those big corporations out there with propensity to buy those assets at fire sale prices," says Townsend.

"You look at the restaurant trade thinking about closing Sundays because it is too expensive, real estate and real estate owners are seeking more from their properties so rentals are going up, which is pushing the costs up while people are looking for a bargain," he says.

"The market is driving the prices down but the costs are going up. The taxation system hasn't helped hospitality either with the introduction of GST; we have become an enormous collector of GST."

Morgan Kelly, of Ferrier Hodgson, says the Sandringham Hotel business would continue to trade on an as-usual basis for the time being.

"I'm trying not to look like the fun police," he says.

"At the moment we are stabilising operations and continuing to operate in the ordinary course of business, including booking live bands."

Ferrier Hodgson has had a number of initial enquiries about sale but Kelly says it is very early days still.

"We need to think about how we are going to take it to the market. It has been on the market before over the last 12 months, so we need to assess what happened there and engage with agents who have previously been involved," he says.

Kelly says the intention is to continue to trade and provide a live music venue, although he concedes "what any purchaser does with it remains to be seen."

He says it is difficult at this stage to identify the cause of the administration.

"With live music you always run the risk of attracting the attention of the council for fines and that has been a problem for The Sandringham," Kelly says.

"That's certainly had an adverse impact on cashflow.

"We'll have a clear direction on the marketing strategy and campaign within the next two weeks."
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The Sando owner says recently renovated Sydney pub receivership due Bankwest, the council and 'the suits'

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On June 27, 2012, the ATO withdrew the taxation ruling TR 2011/2. This outlined the effective life of all qualifying plant and equipment depreciating assets. The new and excitingly named TR 2012/2 ruling is in effect from July 1, 2012 and includes some changes to existing depreciating assets and the addition of some new assets. The new legislation applies to all assets acquired individually or through the purchase of a property from the July 1, 2012 onward. If you’ve previously had a tax depreciation schedule prepared, there’s no need to worry about updating any effective lives. In the ATO’s words:
“If, for a particular asset, you were using an effective life from the determination as in force before the latest amendment (for example, as contained in the Schedule to TR 2011/2), you should continue to use that life for that asset.”
The legislation has been updated due to an ongoing review of the commissioner’s effective life determinations, which is being undertaken by the ATO. Specifically, there have been changes to assets under the following descriptions;
<ul>
<li>Animal feed manufacturing assets;</li>
<li>Coffee manufacturing assets;</li>
<li>Concrete product manufacturing - concrete roof tile manufacturing;</li>
<li>Concrete product manufacturing - fibre cement building board manufacturing assets;</li>
<li>Edible oil or fat (blended) manufacturing assets;</li>
<li>Ethanol manufacturing assets;</li>
<li>Frozen pre-prepared meals and selected snacks manufacturing assets;</li>
<li>Health and fitness centre operation assets;</li>
<li> Motor vehicle manufacturing - automotive metal stamping and blanking assets;</li>
<li>Motor vehicle manufacturing - motor car engine manufacturing and assembly assets;</li>
<li>Radio broadcasting assets;</li>
<li>Steel coil roll forming, slitting, blanking and sheet metal forming assets;</li>
<li>Sheet metal tank manufacturing assets; and</li>
<li>Tea manufacturing assets. </li>
</ul>
This will of course change the depreciation deductions for commercial properties operating under those descriptions, but will not affect residential property investors.
The effective lives affect depreciation deductions by changing the depreciation rates. For example, under the diminishing method, the rate of depreciation for an asset is calculated by 200 divided by the effective life of the asset. So if we take a dishwasher in a residential property as an example, the calculation would be 200 divided by 10 years, giving us a depreciation rate of 20%. If the effective life was to be changed to the same as an oven, the depreciation rate would reduce to 16.7%.
We can expect an updated taxation ruling on effective lives around the end of June each year, due to the ongoing review of effective lives. Hopefully we’ll see the addition of some new assets under the residential property operators’ subsection such as water tanks. We’ll keep you abreast of all legislation changes.
Mike Mortlock is a director of <a href="https://www.mcgqs.com.au/">MCG Quantity Surveyors</a> specialising in tax depreciation deductions for property investors.
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What new depreciation tax rules mean for property investors

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Legendary American engineer Dr Simon Ramo wrote a book in 1970 about, of all things, tennis, titled Extraordinary Tennis for the Ordinary Player. 
The engineer in him noticed that the game of tennis involves two games – one is played at the professional level and the other is played at the weekend warrior level. 
Now, that's not particularly brilliant, but the conclusion he reached from his observation is. 
After extensive analysis, Ramo concluded that professional tennis players win points while amateur players lose points. 
In other words, for professionals, most points are won by the pro hitting a spectacular winning shot that is just out of reach of their opponent (a "winner's game"), while amateurs typically lose points by making an unforced error (a "loser's game"). 
In his blog, financial planner <a href="https://www.macleanfinancialgroup.com/new/MacLeanFinancialGroup/" target="_blank">Hawley MacLean explains</a> that noted investment analyst Charles Ellis, writing in a famous Financial Analysts Journal article from 1975, extended Ramo's tennis concept to the investment business. 
Ellis said investing had flipped from being a winner's game to a loser's game. 
He meant that to succeed at investing you need to focus on making fewer avoidable errors as opposed to making spectacular winning investments. 
Now making fewer avoidable errors is a worthy goal at any time, but it is critical in today’s turbulent markets.
The best way to explain this is that during property booms it’s easy to look smart – rising values cover up many mistakes. 
But now that our markets have been flat for some time, many investors who didn’t have a proven strategy are floundering and some have to sell their investments because, as they put it: “Property investing doesn’t work any more.”
 
That’s just confirmation of Warren Buffet’s famous saying: “When the tide is out you can see who is swimming naked.” 
Meanwhile, at the same stage of the cycle, those more strategic investors who understand the importance of correct timing, proper asset selection and smart financing using financial buffers to get through the lean years are still heading towards financial independence through smart property investing. 
These successful investors are not trying to get rich quick. Instead, they focus on making fewer avoidable errors by using proven, trusted property investment systems.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
For more advice on investing in property following times ot turmoil,<a target="_blank" href="http://propertyobserver.com.au/ebooks/investing-in-property-in-times-of-turmoil-free-ebook"> download our free eBook.</a>
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What tennis can teach us about successful property investing: Switch from a loser’s game to a winner’s game

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The total number of properties currently listed for rent across Australia’s capital cities increased 6.8% over the year ending July 8, according to RP Data’s Property Pulse. Including the rest of Australia, the increase was just 2.7%.
Across Australia, there are 44,347 properties newly listed for rent in the month ending July 8, up from 36,001 last year. The total number of rental listings is 90,235, up from 87,855.
At 12,807, Victoria has the most properties newly listed for rent of all capitals. The figure is up from 9,037 last year. The total number of properties listed for rent in Victoria is 29,173, up from 23,672 last year.
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Victoria was closely followed by New South Wales, which has 12,129 newly listed properties, up from 9,547 last year. That brings the total number of properties on the rental market in NSW to 23,254, up from 21,654 last year.
The number of rental properties in WA has dropped from 8,291 to 6,961 in the past year. There were 3,868 newly listed properties, slightly up from 3,634 last year.
The Northern Territory was the only state where new listings dropped. New listings are at 428, down from 446 last year. The total number of properties is now at 693, down from 998 last year.
New listings nearly doubled in the ACT, increasing from 236 to 466.
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Capital city rental residential stock up 6.8% in year to July: RP Data

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Sydney’s CBD off-the-plan luxury apartment prices have increased over the past year, according to Savills Research.
One-bedroom luxury apartment prices range from $11,538 per square metre to $15,385, averaging $13,462 per square metre, according to Savills head of residential Shayne Harris.
It was $10,000 to $13,350 a year ago, averaging $12,000.
Two-bedroom luxury apartments average $21,000 per square metre compared with $16,500 in the 2011 first quarter, and only a small change was notched in three-bedroom luxury prices, which now average $23,750 per square metre, compared with $23,350 a year ago.
Harris suggests that Sydney can be considered “fair value” in global prime residential property market comparisons, with room for growth in capital values.
“Sydney is beginning to display many of the common characteristics of a world-class city,” he says.
Over the past five years the City of Sydney recorded the highest rent prices across all metropolitan municipalities for both one- and two-bedroom units, with a median rent of $500 and $670 per week respectively.
Savills research suggest that luxury one- and two-bedroom units have asking rents between $650 and $1,800 per week. It was between $600 and $1,800 per week a year earlier in the first quarter of 2011, Harris notes.
The vacancy rate in the inner 10-kilometre circle of Sydney, based on Real Estate Institute of NSW data, remains low at 1.5%.
More than 10 kilometres out and it’s 1.9%.
Savills suggests low vacancy levels have been of benefit to investors, as they have enjoyed increased demand and consistent rentals.
“It is expected that these vacancy levels will remain low due to the continued disparity between the supply and demand of residential accommodation,” Savills says.
The municipality represents the largest unit rental market in NSW, with 30,000 landlords as of December 2011.
For more on Sydney's current state 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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Inner-Sydney off-the-plan luxury apartment prices rising as Sydney becoming a 'world-class city': Savills

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13 Caird Place, Seven Hills, NSW 2147
<img src="/images/stories/2012/07/caird.jpg">
An extra-large six-bedroom house in a quiet cul-de-sac could appeal to investors, as its current tenants pay $550 per week. It is within walking distance of Seven Hills North Public and Seven Hills High School and also close to the train station, M2 and M7. The tenants are on an expired lease but are keen to stay on. It also includes a two-car garage and a pergola and barbecue area.
John Law Property agent Jay Chaudhary<a href="https://www.realestate.com.au/property-house-nsw-seven+hills-110761767" target="_blank"> is marketing the property</a> with price hopes of $350,000 plus, and if it sells for that price that would secure an investor a remarkable gross rental yield of 8.2% at its current rent, well above the gross rental yield for Seven Hills houses of 5%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Seven Hills fell 1.7% in the past year but rose 21.4% in the past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $7,000 and over five years to be $21,000.
The property will go to auction Saturday, July 14 at 1pm.
For more information about prices and yields in <a target="_blank" href="/news">Seven Hills, see the RP Data suburb page.</a>
For another investment prospect open for inspection this weekend, see pages 2 and 3.
<hr>
4/808 Humffray Street, Mount Pleasant, Vic 3350
<img width="470" src="/images/stories/2012/07/humffray.jpg">
In a boutique block of four, this two-bedroom villa unit in the Ballarat suburb of Mount Pleasant has been recently re-carpeted and repainted. It is currently tenanted until September for below-market rent, but listing agent Simon Lee of Ray White says it could be expected to fetch $195 per week. Lee says the tenants would be willing to move out before September. The property is close to public transport.
Lee<a href="https://www.raywhite.com/vic/mount-pleasant/803871/" target="_blank"> is marketing the property</a> with price hopes of $180,000 plus, and if it sells for $180,000 and is let at $195 per week, that would secure an investor a gross rental yield of 5.6%, above the indicative gross rental yield of 5.2% for Mount Pleasant houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Mount Pleasant rose 2% in the past year and 47.1% in tha past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The property will be open for inspection Saturday, July 14 at noon and will go to auction Saturday, July 21 at 1pm.
For more about prices and yields in <a target="_blank" href="/news">Mount Pleasant, see the RP Data suburb page.</a>
 
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13b Nullaburra Road, Newport, NSW 2106
<img src="/images/stories/2012/07/nullaburra.jpg" width="470">
This four-bedroom duplex on 550 square metres of land is currently tenanted at $860 per week, and the rent is set to go up to $900 per week in the next few months. The current tenants are on a six-month lease that is due to expire around the end of the year. There are ocean glimpses from the second level, and the property includes a double garage and a low-maintenance backyard. Domain Residential agent Dushan Prica describes the property in its marketing as "a great investment opportunity for those heading towards the stock market exits!".<a href="https://www.raywhite.com/vic/mount-pleasant/803871/" target="_blank"></a>
Dushan Prica<a target="_blank" href="https://www.raywhite.com/vic/mount-pleasant/803871/"> is marketing the property</a> with price hopes of $949,000 plus, and if it sells for $949,000 that would secure an investor a gross rental yield of 4.7% at its current rent, above the indicative gross rental yield of 3.8% for Newport houses, according to RP Data. It would secure a gross rental yield of 4.96% at $900 per week. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Newport fell 3.2% in the past year but rose 7% in tha past five years, according to RP Data.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $15,000 and over five years to be $48,000.
The property will be open for inspection Saturday, July 14 at noon and will go to auction Saturday, July 21 at 1pm.
For more about prices and yields in Newport, see the RP Data suburb page.
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Friday form guide: Yields of up to 8.2% in Seven Hills

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Talk often centres around Melbourne being an expensive city, and it is – make no mistake about it.
But how does Melbourne compare internationally?
We’ve analysed a number of Melbourne’s top suburbs to get an indicative price per square metre rate for property, and compared them to the world leaders across the globe.
For starters we’ve sourced the most expensive cities across the world to see how they compare. The top 10:
<ol>
<li>Monaco: $58,000 per square metre. This is world’s most expensive place. It helps when you don’t have to pay taxes!</li>
<li>London: $48,000 per sqm</li>
<li>Hong Kong: $45,000 per sqm (Houses only)</li>
<li>Geneva: $33,000 per sqm</li>
<li>Hong Kong: $27,000 per sqm(Apartments only)</li>
<li>Paris: $25,000 per sqm</li>
<li>Singapore: $24,000 per sqm</li>
<li>Moscow: $23,000 per sqm</li>
<li>Zurich: $23,000 per sqm</li>
<li>New York $21,500 per sqm (Apartments only)</li>
</ol>
(Data compiled for last quarter 2011)
We’ve used the average square metre price in Melbourne as our comparison point. We’ve also compared the most recent quarter prices and benchmarked them to houses only, so apartments have been excluded from the data.
So how do we compare for different suburbs? Here is an interesting selection:
• East Melbourne: $11,133 per sqm Melbourne’s highest-priced inner-city suburb, East Melbourne takes the cake.
• Carlton: $9,409 per sqm
• Fitzroy: $6,888 per sqm
• Brunswick: $3,380 per sqm (With 48 sales recorded, this was the largest data set collected for a suburb)
• Abbotsford: $6,785 per sqm
• Hawthorn: $3,443 per sqm (Suprising result)
• Albert Park: $8,181 per sqm
• North Melbourne: $7,230 per sqm
• West Melbourne: $4,986 per sqm
• Yarraville: $2,229 per sqm
• South Melbourne: $7,652 per sqm
Surprising outcomes were the low per square metre rate attributed to Hawthorn. Brunswick was the most accurate data example thanks to a pool of 48 transactions. The inner west showed the most favourable square metre rate, with Yarraville at just over $2,000 per square metre. West Melbourne was the most affordable suburb on the doorstep of the city.
Interesting takeaways are:
<ul>
<li>London is 21.5 times more expensive than Yarraville</li>
<li>Hong Kong is four times more expensive than East Melbourne</li>
<li>Monaco is 16 times more expensive than Hawthorn (When it comes to price per square metre of real estate)</li>
</ul>
Melbourne is an expensive city. However compared to world standards, Melbourne is still far behind the big cities (or tax havens) when it comes to price per square metre of land.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/secretagent1.jpg" rel="shadowbox"><img src="/images/stories/2012/07/secretagent1thumb.jpg"></a>
<a title="Click to enlarge" href="/images/stories/2012/07/secretagent2.jpg" rel="shadowbox"><img src="/images/stories/2012/07/secretagent2thumb.jpg"></a>
Paul Osborne is the founder of Melbourne buyers' agency <a href="https://secretagent.com.au/" target="_blank">Secret Agent</a>.
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Yarraville, Hawthorn, even East Melbourne lag behind the world's big cities for residential property prices: Paul Osborne

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The percentage of first-home buyers purchasing off-the-plan units has increased since March this year, according to NAB's Residential Property Survey.
At the same time, the percentage of non-first-home owner-occupiers buying off the plan has decreased.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/nabjuly125.gif"><img src="/images/stories/2012/07/nabjuly125thumb.gif"></a>
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