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 soil has this week been turned on a new Quest serviced apartment project in Wodonga on the NSW/Victoria border, with seven more projects to be completed over the next 12 months. 
The new $25 million Quest Wodonga located on the Scout hall site on Reid Street in Wodonga is expected to open before next Easter and will feature 48 units comprising a mix of studios, one-, two- and three-bedroom apartments.
Currently Quest is selling apartments in four projects in Launceston (starting at $280,000), Gladstone ($487,000 for two-bedroom), Maitland (starting at $235,000) and Moonee Valley ($330,000 for two-bedroom unit). 
The Wodonga apartments will not be available for investors to purchase individually, a spokesperson for Quest says. 
Serviced apartments are seen as a growth market in Australia. 
A <a target="_blank" href="https://www.propertyobserver.com.au/leisure/serviced-apartments-to-outperform-hotels-in-next-three-years-atchison/2012031253796">report released by Atchison Consultants earlier this year</a> said the serviced apartments sector would outperform the hotel sector over the next three years with total ungeared returns of between 13% and 15% per annum compared with 10% to 11% per annum for hotels. 
They are also a way for smaller investors to get a direct foothold into the leisure market. 
In March this year Quest set up a specialist property division – Quest Property – to sell serviced apartments to investors. The group manages about 5,000 serviced apartments. 
The apartments are sold with 6.5%+ fixed rental income, guaranteed full tenancy and no management fees. 
The Quest Wodonga will cater for business travellers in the area and will complement the Quest Albury already operating on the other side of the state border. 
In May <a target="_blank" href="https://www.propertyobserver.com.au/leisure/quest-to-operate-serviced-apartments-in-rothelowman-designed-frankston-property/2012050854596">Quest revealed that it would operate a new property in Frankston, Victoria</a> after signing a lease with development partners the Deague family’s Asian Pacific Group.
The $50 million project will refurbish the Nepean Highway complex known as the Peninsula Centre and create 81 serviced apartments within the 150-apartment RotheLowman-designed building, which is expected to be completed in early 2013.
The Quest Wodonga and Quest Frankston serviced apartment projects are among eight new serviced apartments that will be completed between August this year and mid-2013. 
The new projects are: 
<ul>
<li>Quest Bundoora – Opening August 2012</li>
<li>Quest Frankston Central – Opening early 2013</li>
<li>Quest Wodonga – Opening June 2013</li>
<li>Quest Albion – Opening November 2012</li>
<li>Quest Rockhampton – Opening Mid-Year 2013</li>
<li>Quest at Sydney Olympic Park – Opening November 2012</li>
<li>Quest on Franklin – Opening April 2013</li>
<li>Quest Whyalla – Opening August 2012 </li>
</ul>
The serviced apartment group has also announced that it has started working on a $2 million stage two refurbishment of its Quest Docklands property, which is expected to be completed in October. 
Stage two will involve the restyling of Quest Dockland's 133 apartments with a warmer colour scheme, new interior furnishings and larger work desks. 
In stage one Quest restyled the property's lobby, reception and common areas, created a high-tech business centre and a property-wide Wi-Fi internet upgrade. 
Quest Serviced Apartments, which was established in 1988 by Paul Constantinou and now has more than 142 properties in Australia, New Zealand and Fiji with corporate travellers making up 80% of revenue. 
Other serviced apartment operators include the Mantra Group, Oaks Hotels &amp; Resorts, Accor Hotels, Toga Hospitality, Mirvac Hotels &amp; Resorts, Meriton Serviced Apartments, Q Resorts and StayWell Hospitality Group. 
<a target="_blank" href="https://www.propertyobserver.com.au/developments/harry-triguboff-s-meriton-group-to-build-700-serviced-apartments-next-year-across-australia/2011120752737">Harry Triguboff’s Meriton group is set to add around 700 apartments to its portfolio this year.</a>
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Construction begins on $25 million Quest Wodonga serviced apartment project, with seven more in the pipeline

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In the Northern Territory, only the region of Barkly had positive house price growth in the year to March, according to ANZ in its Australian Housing Chartbook.
However, the bank is optimistic about NT regional areas in the year ahead, forecasting resources projects to have a flow-through effect on housing prices in the territory. 
"The outlook for house price growth across the Northern Territory regions is buoyant, with significant mining and energy investment (i.e., Icthys gas project) expected to drive solid state economic growth and broad regional houseprice increases through the second half of 2012 and through 2013," says the Australian Housing Chartbook.
Click to enlarge
<a href="/images/stories/2012/07/anzjuly102.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/anzjuly102thumb.gif"></a>
Source RP Data, Rismark, ANZ
 
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Barkly the only NT region to record house price growth in the year to March: ANZ

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Just like the economy, the housing market represents the forces of supply and demand. Real estate prices will move depending on whether demand for housing is increasing or reducing. And likewise, when supply of housing is increasing or falling. The two forces that make up the market are constantly moving and can be influenced by each other.
The number of residential property listings in the market represents the total current supply of real estate available to buyers*. Since 2010 the supply of residential real estate, as measured by the number of online listings, has rapidly increased. Its low point was in April 2010, when there were 219,000 listings offered nationwide. As at the end of June 2012, there were 387,000 listings – an increase of 76.6%.
Some argue that an increase in listings maybe a healthy sign of the market as it may mean vendors are becoming confident of selling their properties at their desired price. However, all the evidence suggests that total listings rise when there is a downturn in the market due to the fact that vendors are not able to sell their advertised properties within the desired timeframe. And as new vendors enter into the marketplace, they are competing with the existing vendors, thereby creating a build-up of stock.
The ABS reports that national house prices have fallen by 6.1% since the June quarter 2010.
The advantages of watching this measurement of the market is that the data is very timely and the data is complete. These days, real estate listings are updated almost on a real-time basis and are traceable due to the fact that over 95% of all real estate listings are being advertised online (as opposed to print only). SQM Research monitors these online real estate listings via the country’s major real estate listings portals including Domain and real estate.com.au, among others.
For those who are interested in this measurement, SQM research has charted this information on every postcode In the country back to 2008. You will find this information available for free on our website, <a href="https://www.sqmresearch.com.au/" target="_blank">www.sqmresearch.com.au</a>
Right now, we are witnessing various trends when considering the listings at the capital city level. For Perth and Brisbane, we are now recording trends that suggest total listings are peaking and slowly declining, which suggests to us that there might well be more buyers in these two markets than what was the case 12 months ago.
<a target="_blank" href="/news">RP Data research also shows that the number of listings in Perth and Brisbane is declining.</a>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly12.gif"><img src="/images/stories/2012/07/sqmjuly12thumb.gif"></a>
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly121.gif"><img src="/images/stories/2012/07/sqmjuly121thumb.gif"></a>
*excluding what is called shadow stock (properties that are known by some participants, e.g real estate agents, that might be available if the price was right, but for now, it is not being advertised.)
On the other hand, Sydney is not at this stage recording any material decline in listings. Rather, stock levels are elevated when considering historical supply. That said, listings no longer are increasing as what transpired over 2010 and 2011. This suggests to us that the housing downturn Sydney is experiencing is no longer getting worse, however market condition could not yet be described as "improved".
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly123.gif"><img src="/images/stories/2012/07/sqmjuly123thumb.gif"></a>
Meanwhile Melbourne as at the end of June recorded a new high on our index.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly124.gif"><img src="/images/stories/2012/07/sqmjuly124thumb.gif"></a>
While Hobart is at near the high on our index, however it seems listings may have peaked over recent months.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/sqmjuly125.gif"><img src="/images/stories/2012/07/sqmjuly125thumb.gif"></a>
Overall, given the amount of stock on the market we believe it is a clear indication of a buyer’s market, whereby buyers have plenty of choice and, barring exceptions, are in a better negotiating position.
Some have argued that many of the listings may represent sellers who are not willing to meet the market and so the supply numbers may be overstated. We believe that such an assessment is rather simplistic. The reality is that the property is being offered for sale, which is competing with other properties on offer in the market place. Our advice for those who have their property on way above the market is to either meet the market or withdraw their property. Given the fact that the market is not moving up, it is very unlikely such properties will sell in this current state of the cycle.
In the end, sellers who take this approach are wasting their own time and advertising dollars, not to mention the efforts of those working with them to sell the property.
Louis Christopher is managing director of <a target="_blank" href="https://www.sqmresearch.com.au/index.php">SQM Research. </a>
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Brisbane and Perth residential stock on market declining, while Sydney static and Melbourne at new high

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Real estate group LJ Hooker will start advertising its residential and commercial listings on Chinese real estate listings portal Juwai.com following the signing of a partnership agreement between the two organisations.
The agreement will allow LJ Hooker to market its properties directly to Chinese buyers and others in Asia via Juwai.com.
Georg Chmiel, chief executive of LJ Hooker, says the real estate group has invested heavily in the online and digital space and the partnership with Juwai.com will “further expand the online reach of our residential and commercial listings and provide access to one of the fastest-growing markets for our clients”.
Chinese investors spent $4.2 billion on Australian real estate in 2011, representing about $48 million in estate agent commissions.
LJ Hooker is the first real estate network in Australia to enter into a partnership with Juwai.com, which launched in December last year.
Juwai.com promotes itself as the largest international property search and information platform for Mandarin-speaking Chinese consumers and says that 84% of its traffic comes from high-net-worth Chinese buyers.
The site has also been adopted by global Chinese communities living in Hong Kong, Taiwan, Macau, Singapore and Malaysia, providing Juwai.com customers with comprehensive exposure within China and across south-east Asia.
LJ Hooker was one of the first real estate firms to establish a physical presence in China, setting up an office in Shanghai in 2004.
“We are delighted to have LJ Hooker join Juwai.com, and to play the lead role in the network’s reach into China and south-east Asia,” says Simon Henry, co-founder of Juwai.com.
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LJ Hooker to market commercial and residential property listings on Chinese portal Juwai.com

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Australian retailers are in for a "retail shakeout" over the next three years, and retailers including Harvey Norman are scaling back plans for new stores in anticipation, according to research by Citigroup.
Citigroup warns that while retail share prices may have halved, the retailers have not yet rationalised floor space.
It highlighted Harvey Norman and JB Hi-Fi as the "most vulnerable" and indeed Gerry Harvey, executive chairman of Harvey Norman, is putting new bulky goods developments on hold.
"We've never stopped like we've stopped at the moment," Harvey toldFairfax.
Harvey Norman opened between five and 15 stores a year in the past but Harvey says now "we're doing very little or nothing."
Citigroup's research found that deflation and online sales will constrain bricks and mortar growth and non-food retailers will need to cut floor space by 10% or more before margins can recover.
It found that many retailers have threatened to close stores, but few have actually done so despite subdued demand, signalling a rocky time ahead for retailers.
"Retail insolvencies were only at a similar level in 2011 as what they were in 2007, before the retail downturn," Citigroup found.
The research is echoed by industry analyst BIS Shrapnel's latest report on the retail property sector which warns that retail turnover growth this decade won't return to the "golden age" that ran from the mid-1990s to the financial crisis.
BIS Shrapnel forecasts that growth over the next five years will average just 2.9% a year, compared to the mid-1990s, which saw turnover growth of almost 5% a year on average in real terms.
Maria Lee, author of the report and senior project manager at BIS Shrapnel, told SmartCompany it was "subdued news for retail."
"It's not a disaster, we are not going back to pre the financial crisis but that was not a normal period, there is a new normal now," she says.
"If you look at total retail spending, we don't think that is going to grow all that fast, as people are saving more than they did pre the financial crisis and they are not spending as much of their household budgets on retail."
Lee says it is "not uncommon" to hear of retailers like Harvey Norman who have put expansion plans on ice.
"There are retailers still expanding but there are certainly some who are putting new stores on hold."
However, Lee says a halt to expansion does not always spell bad news for retailers.
"Quite often it is because they are seeing the internet side of their business growing more strongly so they are investing more in that," she says.
"Internet shopping really has taken hold and all retailers need to be on board, some are still reluctantly coming on and see it more as a defensive move."
Online retailing has a two-pronged impact. There's the obvious effect of taking market share from traditional retailing, but Lee says internet shopping also affects profit margins in store.
"Consumers are using price comparison websites or apps on their mobile phones when in-store, and then demanding a price-match in order for them to buy there and then," says Lee.
"This can have an impact on retailer profit margins."
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
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Gerry Harvey shelves plans for new stores as retailers warned to get used to a new kind of normal

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The May cash rate cut of 50 basis points failed to spark a revival in mortgage lending, according the latest ABS housing figures.
They show that the total value of owner-occupied housing commitments rose 0.2% in May 2012 to $13.6 billion on a seasonally adjusted basis, while the number of owner-occupier home loans fell by 1.2% (or 582 mortgages) to 46,120.
This figure is well below market expectations of a 8% month-on-month increase in the number of owner-occupied home loan approvals.
A separate Bloomberg survey of economists had forecast a 1% rise in the number of owner-occupier mortgages taken out over May.
The number of owner-occupier loans fell in New South Wales (down 451, 3.4%), Queensland (down 239, 2.6%) and the Northern Territory (down 5, 1.7%), while rises were recorded in Victoria (up 140, 1.1%), Tasmania (up 69, 8.7%), Western Australia (up 48, 0.7%) and the Australian Capital Territory (up 15, 1.8%). South Australia was flat.
The value of investment housing lending slumped 4.6% on a seasonally adjusted basis.
Demand for financing of new dwellings remainde week with the number of loans for new homes fallingl 0.3% on a seasonally-adjusted basis following a fall of 0.4% in April 2012.
One positive was an increase in the number of loans arranged for first-home buyers.
In original terms, the number of first-home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 17.8% in May 2012 from 16.8% in April 2012.
Between May 2012 and April 2012, the average loan size for first home buyers rose $5,500 to $285,700.
The average loan size for all owner occupied housing commitments rose $4,700 to $293,600 for the same period.
Andrew Hanlan, senior economist at Westpac says the 1.2% slip in the number of housing finance loans to owner-occupiers slipped in May "fell short of expectations".
 "The weakness evident in May reversed modest gains for March (0.7%) and April (0.5%), suggesting that the market was stabilising over this period," he says. 
"Loans to first-home buyes strengthened in the month, rising 3.9% to be up 11% on a year ago. However, the upgrader market remains sluggish, with loans to this segment slipping 2.5% to be unchanged on a year ago," says Hanlan.
"The investor market remains lacklustre and volatile from month to month.
"Looking ahead, RBA rate cuts in May and June will act to support the market over coming months.
"In the first instance, first-home buyers are likely to respond to improved housing affordability.
"However, we are not expecting a 'V' shaped recovery to emerge, with the sector facing a number of headwinds, including patchy labour market conditions and fragile confidence at a time of global risks," Hanlan says.
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Owner-occupier mortgage lending disappoints in May with 0.2% rise: ABS

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What happened to Darrell Lea could happen to Australia. It made the same mistakes Australia is in danger of making. Darrell Lea could never adapt to the fact that the good times had gone and that the old boom-time strategies had to be changed.
Former BHP Billiton chief Don Argus, writing in The Australian today, warns than Australia will face the same problem if China slows. Like Darrell Lea, Australia is basing its finances on a continuation of boom times.
Accordingly, Darrell Lea represents a warning to governments and companies that booms do not last forever and if you enshrine boom-time strategies then come the tough times you suffer badly.
More directly, the collapse of Darrell Lea is a further alert to all retailers and manufacturers: Re-engineer your business to cater for modern trends and improve productivity or you will die. The lesson applies to owners, managers and workers.
In the retail sector, Darrell Lea is no isolated example. We have seen a string of retailers get into trouble including big brands like Myer and David Jones, plus Billabong. Appliance retailers have been particularly hard hit.
Manufacturers and service industries have the same story.
Darrell Lea stores still look almost exactly as I knew them as a child. Yet they don’t have the same magic, even to my grandchildren. Darrell Lea confectionery is not as cheap as supermarket confectionary and many of us now buy former Darrell Lea type purchases via the upmarket brands.
Darrell Lea is in high rent areas and the confectionary margins don’t allow it. A reader says he knew they were in strife when they changed the layers of licorice in the licorice allsorts. I suspect that the company did not invest in the latest manufacturing equipment at a time when more and more confectionary is being made overseas. In other words, productivity did not keep up. Of course it would have been very expensive to substantially curtail local manufacturing because of retrenchment benefits but it would have lowered Darrell Lea retail prices closer to those of competitors.
And if you have an extensive franchise chain, you need to advertise. Darrell Lea did not have the money.
I don’t know how to solve the Darrell Lea problem but I know some of the ingredients in the solution will be more online retailing; lower production costs via importing; a different product range; lower rents and much smarter marketing.
And if you think about it, many of those ingredients are also part of the solution for other enterprises and they are part of the Australian solution. Here at Business Spectator we have been alerting Australia that the lower productivity we are experiencing is not just about unions, IR laws and infrastructure – it's also about bad management. Treasury has woken up to this.
The Telstra Productivity Survey shows that less than one in three enterprises and even fewer government bodies can be bothered measuring productivity (<a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/article/telstra-productivity-survey-australian-economy-it-pd20120323-sn7up?opendocument">Waking up to productivity</a>, March 28). I hope that someone can find a formula to restore Darrell Lea. Eighty-five year old businesses are something special but no matter how old the business, unless its re-engineered to the modern environment, it is vulnerable.
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator.</a>
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What happened to Darrell Lea could happen to Australia: Gottliebsen

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Landlords of Darrell Lea's 69 stores are concerned about what the future holds for them after <a href="https://www.smartcompany.com.au/retail/050633-confectionary-group-darrell-lea-placed-in-voluntary-administration" target="_blank">administrators were appointed</a> to the confectionery and chocolate company yesterday.
If Darrell Lea is liquidated the retail stores will need to be released and each centre will deal with that in accordance with their individual leasing policy, according to Simon Fonteyn, founder and managing director of Leasing Information Services.
"Anecdotally there is evidence that leases which go into administration usually carry a higher incentive, but that depends on the quality of the location," he says.
"Landlords as a general rule do not like any vacancies whatsoever, so they will meet the market to get it re-leased."
Fonteyn says if Darrell Lea is sold as a going concern then it is just "business as usual", but a buyer may look at some closures on a case-by-case basis.
"From what I've read there are a number of factors at play. I know that Darrell Lea was well represented in terms of their tenancy; they were paying market rates and were well advised," he says.
"Obviously blind Freddie knows that in retail things are tight but other retailers are weathering the storm, so there are likely to be other factors involved in the collapse."
Darrell Lea's employees are also frightened about their job prospects .
PPB's Mark Robinson said a major review of the business was underway in the hope a buyer could be found to help save the 85-year-old company and its 700 workers.
"At this time it is business as usual and our primary focus is for the employees and store owners that are impacted by this unfortunate event," Robinson said in a press conference yesterday.
"This is an iconic brand which means a lot to Australians and I'm sure it will live on in some form into the future."
Robinson said the company's directors were disappointed and "saddened" by the problems they faced, although he said there was some hope for the business as the administrators had received several unsolicited approaches.
Jennifer Dowell, national secretary of the Australian Manufacturers and Workers Union food and confectionery division, says she is concerned that all 700 employees would lose their jobs if the company was liquidated.
"We don't really know a great deal at this stage. We spoke to the administrator yesterday and we are waiting for them to confirm that they have signed off on funding to pay the workers' wages, we are still waiting on that," Dowell says.
"They are saying they need a couple of days to ascertain the financial situation of the company and it does not look good.
"We are trying to find out if there is enough money to cover the employee entitlements and we are not sure if there is at this stage."
Dowell says PPB expects to have a better idea of what the financial situation looks like.
"Aside from securing funds to pay the wages, their first priority is to sell the company. They say to sell they may have to restructure and we are always worried when they talk about restructuring that someone is going to lose their job.
"The workers themselves are absolutely beside themselves as most of them found out through the media so they feel like they haven't been treated very well and, of course, they are upset and frightened."
Even Prime Minister Julia Gillard weighed in on the debate, saying it was sad news for the company.
"I certainly hope that we can see someone step forward and take this business over and keep that very famous Darrell Lea brand going for us,'' Gillard told reporters in Ipswich yesterday.
"Everybody has probably eaten a lot of their Rocky Road over the course of their lives, I know I have.''
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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What Darrell Lea's collapse means for retail landlords

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There was a small increase in the percentage of properties available to rent in the inner and middle suburbs of Sydney over June, according to figures compiled Real Estate Institute of NSW (REINSW).
The residential vacancy rate eased by 0.2 percentage points from 1.6% to a rate of 1.8% in the inner-Sydney suburbs (0-10km from CBD) and by 0.1 percentage points in the middle suburbs (10-25km from CBD) from 1.7%, also to a rate of 1.8%.
Rental vacancies tightened in the outer suburbs (25km or more from CBD) by 0.1 percentage point from 1.9% to match the vacancy rate in the rest of Sydney at 1.8%
The overall Sydney vacancy rate has hovered around the 1.8% mark since the start of 2012, up from 1.5% in the second half of 2011.
Despite the small improvement in the inner and middle suburbs Sydney remains an extremely tight rental market favouring landlords – according to the Real Estate Institute of Australia (REIA) a vacancy rate of 3% indicates a balanced market.
REINSW June 2012 Sydney vacancy rates
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<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/07/reinswjuly11.gif"><img src="/images/stories/2012/07/reinswjuly11thumb.gif"></a>
Outside of Sydney all the other major metropolitan centres recorded increases in the percentage of available rental properties last month.
Wollongong recorded the strongest increase, rising 0.4 percentage points from 2.8% to 3.2%.
Newcastle increased by 0.1 percentage point to 1.7% and on the Central Coast the percentage of available properties rose by 0.2 percentage points to 2.8%.
Coffs Harbour recorded the highest rental vacancy rate of 5.1%, and the Orana District recorded the lowest in the state at 1.2%
REINSW June 2012 regional NSW vacancy rates
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“Wollongong continues to record vigorous growth in the number of available rental properties, which are now more than three times the 0.9% level recorded in June 2011,” says REINSW president Christian Payne.
“June did prove to be a good month for those looking to rent a property with some strong increases recorded in available properties towards the end of the financial year.”
“Nowhere is this more the case than in Wollongong, which now offers prospective tenants a wide choice of available property.
“Elsewhere across the state there were more modest increases, which have also improved the situation for tenants,” Payne says.
‘It is clear that whatever the reason for the increases, it is still too early to be seeing any impact from the state government’s budget initiatives announced in May.
“Given the incentives are only just starting to come online now and the full package not expected to be in place until October, the increases we have seen in the rental market are attributable to other factors,” he says.
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Sydney's rental vacancy eases slightly but property market still favours landlords: REINSW

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The inner-north Brisbane suburb of Bowen Hills will get a new high-rise tower with construction commencing on David Devine’s 30-level Madison Heights project following strong off-the-plan sales.
Madison Heights is a $140 million joint venture project between Devine’s Metro Property Development and Indian-owned developer Pearls Australasia.
The 35 Campbell Street project features 308 apartments, and 40 remain available for purchase, with pre-sales totalling $117 million.
Of the sales to date approximately 260 are unconditional with a 10% deposit paid.
<img src="/images/stories/2012/07/madison-heights.jpg">
The strong sales performance of the project has allowed the joint venture partners to secure a funding agreement with the Commonwealth Bank.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/brisbane-high-rise-apartment-sales-down-31-in-may-quarter-midwood/2012062755299">According to the Midwood report</a> Madison Heights was the top-selling Brisbane high-rise project in the three months to May, recording 55 sales. Prices start from $346,000 for a one-bedroom, one-bathroom apartment and range to $556,000 for a two-bedroom, two-bathroom unit.
Eight of the apartments are studios, 228 are one-bedroom and 62 are two-bedroom units.
Madison Heights is being built by Canberra-based construction firm PBS Building and is due to be completed in mid-2013. 
At peak construction the new project will create 550 jobs.
<img src="/images/stories/2012/07/madisonconstruct.jpg">
Devine is one of the most active developers in the inner-Brisbane market, where there are more than 40 projects in various stages of development.
Metro and Pearls are involved in three joint venture projects – the other two being the Chelsea Tower also in Bowen Hills and <a target="_blank" href="https://www.propertyobserver.com.au/developments/buyers-snap-up-20-of-fortitude-valley-s-brooklyn-offerings/2011101351911">Brooklyn on Brookes</a> in Fortitude Valley.
The 195-apartment Chelsea is sold out, currently under construction and due for completion and settlement in the middle of the year.
Metro says Brooklyn on Brookes is selling strongly and construction is due to commence in August or September.;
The Midwood report recorded 88 out of 216 units had been sold off-the-plan by the end of the May quarter at Brooklyn on Brookes with prices starting from $418,000 for one-bedroom, one bathroom unit.
Devine is also building the Riverside Hamilton Harbour project in partnership with Leightons.
Metro executive chairman David Devine says with two of the three projects under construction and Brooklyn on Brookes selling well, Metro has “well and truly achieved our vision of becoming the dominant force in the Brisbane apartment market”.
Pearls Australasia joint managing director and CEO Paul Brinsmead says the commencement of construction of Madison Height is evidence of the market’s ability to support projects that represent value to buyers.
“The fact we have got two major projects under construction and a third due to start later this year underlines the strength of the market for the right product,” he said.
<img src="/images/stories/2012/07/madisonbris.jpg">
The biggest project currently underway in Brisbane is Harry Triguboff’s Infinity Tower, which will rise to 81 floors upon completion. It is due to be finished in 2014.
Meriton’s other skyscraper, <a target="_blank" href="https://www.propertyobserver.com.au/residential/brisbane-tower-set-to-be-third-tallest-in-australia-and-loom-over-harry-triguboffs-soleil/2011111052320">the Soleil tower</a>, was completed in September last year, rising up to 74 stories. 
Metro Property Development was created in 2010 by Devine Limited founder David Devine and business partners Ken Woodley and Luke Hartman.
Pearls Australasia entered the Australian market in 2009 with the cash purchase of the Sheraton Mirage Resort and Spa on the Gold Coast and is backed by India’s largest private landowner.
It has launched a $75 million lakefront project at Varsity Lakes on the Gold Coast.
Download Property Observer’s <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-the-brisbane-inner-city-market">free eBook: Brisbane's inner-city urban renewal</a>, which provides an overview and analysis of the current inner-Brisbane apartment market scene.
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