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?

<html><body>
The recent release of census data from 2011 provides an accurate assessment of home prices to income, which should put to bed some of the argument surrounding more regular measures.
The first round of the 2011 census results was released recently by the Australian Bureau of Statistics (ABS). As reported in last week’s Property Pulse, when you paired the national median dwelling price in August 2011 to the annual household income it showed that the typical Australian home costs 6.3 times the average annual income, up from 6.1 times in 2006.
The results were significantly different to some intra-census measures, which suggest housing affordability is much worse.
Of course a national idea of the pricing differential is useful at a macro level, however, around two-thirds of all Australian’s live in capital city housing markets. As a result, median selling prices of homes tend to be higher and in turn, the ratio of house prices to household incomes can also be quite different.
There is also quite a substantial difference in the ratios between detached houses and units. This is reflective of the fact that houses tend to be more expensive than units and they remain the housing type of preference for most Australians (75.6% of all dwellings were detached houses at the time of the census).
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/rpjuly6.gif" rel="shadowbox"><img src="/images/stories/2012/07/rpjuly6thumb.gif"></a>
For houses, back in 2001 they cost as little as 3.2 times the average annual household income in Hobart and Darwin and up to as much as 6.2 times in Sydney and 4.9 times in Melbourne. Across the unit market the ratio was lowest at the same time in Hobart (2.6 times) and Darwin (2.7 times) and greatest in Sydney (6.0 times) and Melbourne (5.3 times).
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/rpjuly91.gif" rel="shadowbox"><img src="/images/stories/2012/07/rpjuly91thumb.gif"></a>
Ten years later in 2011 houses cost as little as 4.5 times annual income in Darwin and 5.4 times in Canberra up to as much as 6.1 times in Sydney and 5.9 times in Melbourne. The unit market has remained a more affordable alternative, costing as little as 3.6 times annual income in Canberra and 3.8 times in Hobart up to as much as 5.2 times and 5.1 times more expensive in Sydney and Melbourne respectively.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/rpjuly92.gif" rel="shadowbox"><img src="/images/stories/2012/07/rpjuly92thumb.gif"></a>
It is perhaps a little surprising that housing isn’t less affordable, especially when you consider that median selling prices have risen between 75% in Sydney and 198% in Hobart over the 10-year period. Similarly median unit prices have increased by between 47% in Sydney and 211% in Darwin compared with growth in household incomes ranging from 46% in Sydney to 83% in Perth. The growth in household income is somewhat helping to curtail a blow-out in the ratio of home prices to household income.
There are a number of other important results from the data:
<ul>
<li>House and unit price to income ratios have consistently been highest in Sydney across the three periods analysed.</li>
<li>House price to income ratios were highest in 2006 within: Sydney (7.7 times), Perth (7.4 times) and Darwin (5 times) while they have remained stable between 2006 and 2011 in Canberra (5.4 times).</li>
<li>Unit price to income ratios were highest in 2006 within: Sydney (6.2 times) and Perth (6.2 times) while they have remained unchanged between 2006 and 2011 in Brisbane at 5.1 times. </li>
</ul>
The data highlights that the ratio of home prices to household incomes is high compared with the national average across most capital city markets. This is reflective of the fact that the population tends to congregate within or close to these eight capital cities and as a result competition for housing stock is generally strong and land is more scarce.
Over the most recent five years there has been relatively little movement in the house price to income ratio across the capital cities. In fact, the ratio of median house prices to median incomes has actually reduced in Sydney, Perth and Darwin and remained stable in Caberra, which is an encouraging development. The fact that the ratio hasn’t increased significantly over the most recent five years is reflective of much slower growth conditions in the housing market. It is also reflective of lower levels of growth in household incomes over the past five years compared with the preceding five years. In fact, household income growth between 2006 and 2011 was slower in each capital city than the growth over the five years to 2006 except in Sydney, Canberra and Darwin.
Overall the results show that housing unaffordability isn’t quite as severe as some reports have suggested, particularly in Darwin and Canberra, where income levels are considerably higher than the capital city average. Of course this doesn’t mean that a steep decline in values is imminent, but it does mean the prospects of significant value growth over the coming five years is lower. At best we would expect home values to rise in line with household incomes over the period. If they continue to grow below this level as they have for much of the last two years, housing will continue to become relatively more affordable. The fact that units provide a viable alternative for buyers on a budget suggests that they will continue to grow in popularity and may continue to outperform houses in terms of value growth over the coming period to the next census.
Tim Lawless is national research director of <a target="_blank" href="https://www.myrp.com.au/">RP Data.</a><a target="_blank" href="https://www.myrp.com.au/"> </a>
</body></html>

tlawless-5VLUrbAk9s

Housing unaffordability not as severe as some have suggested: Tim Lawless

<html><body>
Regional areas have outperformed capital cities in the year to March, according to ANZ.
"Despite being lower in annual growth terms, regional house prices have been more stable than capital city house prices, which have seen larger price falls across all major states and territories," notes the Australian Housing Chartbook.
"Across states/territories and regions, house price growth has continued to differ, reflecting varying economic performance across Australian industries."
"House price growth in WA regional centres has counter-intuitively been the weakest, with house prices in many centres lower in the year to March," says the report.
"Of note, house price growth in the Greenough River and Moore regions weremuch weaker in March 2012 (-6.5% and -4.7% respectively) compared to September 2011 (+1.3% and +0.6%respectively). Nonetheless, the economic benefits from major mining and energy projects in WA should boost house prices in many WA major regional centres over the next 12-18 months."
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/anzjuly94.jpg" title="Click to enlarge"><img src="/images/stories/2012/07/anzjuly94thum.jpg"></a>
 
Source RP Data, Rismark, ANZ
 
</body></html>

cknowlton-QnEa6ntUYP

Johnston and Kalgoorlie strongest regional WA housing markets, with Hotham prices languishing: ANZ

<html><body>
Regional areas have outperformed capital cities in the year to March, according to ANZ, with Gladstone leading the way in Queensland. 
"Despite being lower in annual growth terms, regional house prices have been more stable than capital city house prices, which have seen larger price falls across all major states and territories," notes the Australian Housing Chartbook.
"Across states/territories and regions, house price growth has continued to differ, reflecting varying economic performance across Australian industries."
"Queensland has shown the greatest intra-state variation in regional house prices, reflecting the divergenteconomic performance of regions exposed to the tourism sector (i.e. Cairns, Gold Coast) and mining-relatedservices (Gladstone, Mount Isa)," the report says.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/anzjuly93.jpg" rel="shadowbox"><img src="/images/stories/2012/07/anzjuly93thumb.jpg"></a>
 
Source RP Data, Rismark, ANZ
For information on investing in property in Queensland mining hotspots, read our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom">Property investing in Queensland’s resources boom</a> 
</body></html>

Investor darling mining town Gladstone strongest Queensland regional housing market, while Bundaberg struggles like the Gold Coast

<html><body>
Regional areas have outperformed capital cities in the year to March, according to ANZ.
"Despite being lower in annual growth terms, regional house prices have been more stable than capital city house prices, which have seen larger price falls across all major states and territories," notes the Australian Housing Chartbook.
"Across states/territories and regions, house price growth has continued to differ, reflecting varying economic performance across Australian industries."
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/anzjuly92.jpg" rel="shadowbox"><img src="/images/stories/2012/07/anzjuly92thumb.jpg"></a>
 
Source RP Data, Rismark, ANZ
</body></html>

Bendigo strongest Victorian regional housing market, far outperforming Shepparton: ANZ

<html><body>
Melburnians may have double the reason to either love or loathe the city skyline in a few years’ time, with the site for a proposed sister skyscraper to the post-modern Eureka Tower listed for sale.
<img src="/images/stories/2012/07/skyscraper2.jpg">
Source: <a href="https://skyscrapercity.com/" target="_blank">Skyscrapercity.com</a>
The 2,642-square-metre site at 70 Southbank Boulevard is directly across the road from the Eureka Tower and has been listed with a $25 million price tag.
It is being sold via an international public expressions of interest campaign managed by CBRE’s Mark Wizel and Joshua Rutman closing on August 8.
The proposed 226-metre, 72-storey tower is designed by Nonda Katsalidis of <a href="https://www.google.com.au/search?rlz=1C1CHKB_en-GBAU429AU429&amp;sugexp=chrome,mod=2&amp;sourceid=chrome&amp;ie=UTF-8&amp;q=2011101351927" target="_blank">Fender Katsalidis</a> architects, who also designed <a href="https://www.propertyobserver.com.au/developments/onwards-and-upwards-in-kuala-lumpur-for-fender-katsalidis-after-eureka-moment/2011101651945" target="_blank">the controversial Eureka Tower.</a>
It will be quite a bit shorter than the Eureka Tower, which has 92 floors and is 300 metres high.
The $400 million design incorporates a gold strip rising up above to the very top, complementing the shiny gold cap on top of the Eureka Tower.
<img src="/images/stories/2012/07/skyscraper3.jpg">
The site is owned by Katsalidis and Adrian Valmorbida from the Valmorbida family, who have put it up for sale almost a year after receiving a planning permit for the tower.
They had to battle with the City of Melbourne to gain approval for the building, which is set to feature 532 apartments, six levels of office space, a fresh food market and ground-floor retail.
“Eureka Tower, which 70 Southbank Boulevard, has been replicated on from an architectural perspective is well known as part of the fabric of life in central Melbourne,” says Katsalidis.
“We wanted to re-create elements of what we had achieved at Eureka and apply it to 70 Southbank Boulevard. It’s a brilliantly located site with a huge variety of optional uses and tremendous potential for a developer to shape Melbourne’s skyline with their own brush."
The site is the former head office of international explosives and fertilising giant Incitec Pivot and is currently in use as office accommodation.
Wizel says significant interest is expected from both local andoff shore developers “that recognise the difficulty in obtaining large corner sites that provided potential for apartment projects with substantial vistas in all directions”.
The site is bounded by City Road, Southbank Boulevard and Fawkner Street and has 150 metres of street frontage.
“Early developer interest has centred around this site housing the next major residential project on the edge of the Melbourne CBD,” says Wizel.
“Sites of this size in the luxury precinct of Southbank are not readily available for acquisition and, as a result, we are anticipating strong interest from local and overseas buyers, with a particularly high level of enquiry expected from Singaporean, Malaysian and mainland Chinese developers, all of whom will be attracted by the site’s proximity to the Crown Casino complex, Melbourne’s arts and cultural precinct as well as Southgate and the sporting precinct of the MCG, Rod Laver Arena and AAMI Stadium.”
Wizel says Asian developers have invested $450 million in Melbourne development opportunities over the past 18 months “in order to diversify into a proven residential market that is sought after by owner occupiers, investors and tenants”.
Rutman says it is rare for a site that has the potential for Nonda Katsalidis-designed, permit-approved residential tower to come to the market for public competition.
Katsalidis says the partners are putting the property up for sale to allow them to “go in different directions”.
“I know that both our firm Fender Katsalidis and the project managers Stralliance would be happy to remain involved in some capacity in the project moving forward, as we believe it will be Melbourne’s next iconic residential tower,” says Katsalidis.
</body></html>

lschlesinger-FZcF9M3vE6

Site for Eureka’s more golden sister tower in Melbourne’s Southbank listed with $25 million price tag

<html><body>
Regional areas have outperformed capital cities in the year to March, according to ANZ.
"Despite being lower in annual growth terms, regional house prices have been more stable than capital city house prices, which have seen larger price falls across all major states and territories," notes the Australian Housing Chartbook.
"Across states/territories and regions, house price growth has continued to differ, reflecting varying economic performance across Australian industries.
"NSW regional house prices were the strongest across states and territories in the year to March 2012, with the central inland regions of Orange and Dubbo showing the greatest house price growth," notes the report.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2012/07/anzjuly91.jpg" rel="shadowbox"><img src="/images/stories/2012/07/anzjuly91thumb.jpg"></a>
 
Source RP Data, Rismark, ANZ
</body></html>

Orange leads NSW regional house growth, with Hastings and Richmond-Tweed languishing: ANZ

<html><body>
Melbourne’s weekend auction clearance rate eased to 55%, as winter school holidays accentuated the buyer disinterest.
It was down on the 58% of the previous weekend and 53% the same weekend last year.
The total number of auctions was down considerably compared with the same week last year, from 465?to 331.
The Real Estate Institute of Vicotria notes with the exception of January, the month of July historically has the lowest volume of residential auctions.
“This year the winter trend is exacerbated, with around 10% fewer auctions than this time last year,” REIV chief executive Enzo Raimondo says.
Dr Andrew Wilson of Australian Property Monitors says Melbourne’s auction culture, which is the strongest in Australia’s capital cities, is softening, with clearance rates “drifting downwards”.
“The steam is out of the Melbourne market,” Wilson told the Australian Financial Review.
He forecasts buyer wariness to continue and the auction clearance rate to remain low.
Melbourne’s top seller was a five-bedroom Mt Waverley house at $1,532,000.
“It was a relatively quiet weekend for auctions in Melbourne – the end of the financial year expected to have played a part,” WPB buyers’ agent Greville Pabst notes.
“However, consumer sentiment is considered the primary reason for the continued lull in activity among buyers and sellers.
“A softening in market activity means there are fewer properties available for purchase, but the lower competition is good news for astute buyers who are willing to go that extra mile in their search,” he says.
Wilson says the Sydney market was a “different story”.
Sydney secured a 56.2% auction clearance rate. It was 54.7% in the previous weekend, and 52.9% in the same weekend last July.
Wilson suggests Sydney is “holding its own and not suffering in health.
“It’s an encouraging result.”
Sydney’s highest recorded office was $3.02 million for a five-bedroom Burwood house.
</body></html>

jchancellor-FAypfDUnLy

Melbourne weekend auction clearance eases in winter school holidays, but Sydney holding its own 

<html><body>
Construction of two commercial towers at Barangaroo will now commence after Lend Lease received commitments totalling $2 billion from cornerstone investors on the Sydney Harbour project.
The funding forms part of a new commercial wholesale open-ended property trust, which Lend Lease will manage.
Each tower will take about three years to build, and Lend Lease anticipates net facing rents of about $1,000 per square metre on average with a 20% incentive.
<img src="/images/stories/2012/07/barangaroo.jpg">
Actual rents will vary dependent on factors such as location in the building and lease term, and there will be no rental guarantees.
Construction of the perimeter wall has now been completed.
The developer has raised $1 billion from Canada Pension Plan Investment Board (CPPIB) and a combined $500 million from the Lend Lease-managed Australian Prime Property Fund Commercial (APPF Commercial) and two existing APPF Commercial investors, First State Super and Telstra Super.
<img src="/images/stories/2012/07/barangaroo2.jpg">
Alongside these investments, Lend Lease will invest up to 25% or $500 million in the first two towers to be progressively drawn down over the development period.
The announcement of the funding follows soon <a target="_blank" href="https://www.propertyobserver.com.au/office/westpac-and-kpmg-to-take-up-more-than-70-in-two-of-lend-leases-barangaroo-south-towers/2012062255233">after Lend Lease announced on June 22 that it had secured tenants for the first two commercial towers</a>, with Westpac agreeing to lease around 70% of the commercial floor space in the first tower to be commenced and KPMG and Lend Lease to occupy 75% of the second tower.
Discussions with other tenants on the third proposed tower will progress over next 12 months, and depending on the outcome of these discussions, it could be launched over this time frame.
Speaking to investors today Lend Lease CEO Steve McCann described the funding as a “very significant milestone”.
“The original assessment was for one tower in first phase. We are very pleased to have funding and leasing agreements for two towers.
“Now all we have to do is build it,” says McCann.
“Investors should have complete confidence in us, since we have built 30% of the Sydney skyline,” he says. 
McCann says investors have also expressed interest in investing in the third commercial tower proposed for the site. 
<img src="/images/stories/2012/07/barangaroo1.jpg">
McCann says that having raised the funding and secured tenants, the developer can now turn to the residential component of Barangaroo South.
“We anticipate there will be probably be residential pre-sales in the next two years,” he says.
Hotel discussions with the NSW government are expected to be finalised in the next quarter.
“We are not in a hurry on the hotel development. We first have finalise where it will be located,” McCann says. 
“We are in discussion with a number of commercial operators about the hotel.”
Lend Lease has about $20 billion in urban regeneration projects on its books including Barangaroo , the RNA showgrounds in Brisbane, the Waterbank project in Perth and projects in London.
</body></html>

Barangaroo South construction set to begin as Lend Lease raises $2 billion 

<html><body>
The outer south-east Melbourne suburb of Clyde is not the epicentre of a so-called oversupply of houses in the city’s outer suburbs, but instead the result of new housing projects coming to market at the same time in what was farmland just two years ago.
Figures compiled by SQM Research show that the number of residential listings in postcode 3978 (Clyde, Clyde North and Cardinia) have risen a whopping 316% to 1,270 over the year to June, the biggest increase of any postcode as pin-pointed by The Sunday Age, which taken at face value would suggest a major problem.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/sqmjuly91.gif" title="Click to enlarge"><img src="/images/stories/2012/07/sqmjuly91thumb.gif"></a>
The new house and land package suburb is about 50 minutes south east of Melbourne and was one of a number of market gardens localities rezoned in 2010.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/07/sqmjuly9.gif" title="Click to enlarge"><img src="/images/stories/2012/07/sqmjuly9thumb.gif"></a>
Local estate agents operating in the area are not concerned.
Paul Rogers from O'Brien Real Estate Narre Warren is selling blocks of land in Villawood’s Pasadena community in Clyde and says agents are looking for new stock all the time to satisfy demand.
Pasadena is a 338-lot residential community near Casey Fields, which launched in July last year. The project offers blocks from 388 square metres up to 668 square metres, priced from around $220,000 to $245,000.
Other local projects include Simonds Homes Cascades on Clyde Estate and Stockland's Selandra Rise in Clyde North.
Rogers says he clocked up 35 residential sales over the past month – “a pretty good figure”.
He says house sales have been around the $330,000 mark but he has recently sold a house-and-land package on a 1.2-hectare block for $1.1 million.
“There are a lot of vacant land and house and land packages not yet build, which is probably where the big rise in listings comes from,” says Rogers.
Another issue, he says, could be that developers are advertising blocks of land as house-and-land packages due to confusion around stamp duty rules, which he says is a grey area.
SQM Research managing director Louis Christopher says the listing figures do not include vacant land, but do include house and land packages.
"We look at them pretty closely," he says. "These are listing that are advertised for sale."
Rogers says he is selling to a broad cross-section of people, including those who are downsizing, older buyers, young couples and upgraders.
He says the suburb has a developing business hub of its own and is also well-serviced by trains into the CBD.
In April a new train station opened at Cardinia on the Pakenham line, which Rogers says is a “one-hour relaxed” commute into the city.
Mark Leonard from First National Real Estate Neilson Partners Narre Warren, who is selling new four-bedroom houses in Clyde around the $370,000 mark, says things have slowed down in winter, but he expects a pick-up in summer.
He says because Clyde is a new estate, the SQM figures could be “statistical abnormalities” because there has been a lot of land developed over the past six to 12 months.
Most buyer interest, he says, comes from second- and third-home buyers, with a little bit of first-home buyer interest ahead of the Victorian government $13,000 first-home bonus ending on June 30.
In addition to train and bus services, the suburb has a nearby shopping centre and primary and secondary schools.
“It could do with some more bus services,” says Leonard.
He says a price of betwen $400,000 to $450,000 would secure a three- or four-bedroom house with a small garden.
These comments are given weight by a March quarter 2012 report by Oliver Hume, which shows that Cardinia only has about six months of land supply compared, with more than a year and a half of supply in Mitchell - Wallan / Beveridge area to the north of Melbourne and more than 10 months’ supply in Melton to the west.
According to Oliver Hume, there are 10 new residential projects underway in Cardinia, comprising 10% of all projects in Melbourne, with an effective median land price of $177,000.
The UDIA and HIA have also rejected claims of a glut in residential listings in outer suburbs.
Clyde’s status was highlighted in SQM Research figures which show a 6.1% monthly jump in Melbourne residential listings to over 55,000 in June with 35,000 of these listings on the outer fringe.
After Clyde, the suburb with the second biggest rise in listings in the year to June 30 was Epping to the North, with a 168% rise to 1,260 followed by Taylors Hill, Sydenham and Hillside (post code 3037) in the north west with an 84% rise to 1,081 listings, the Sunday Age reported.
Hoppers Crossing, Tarneit and Truganina (post code 3029) in the West have the highest number of listings at 4,048 – a rise of 54% for the year to June.
 <a rel="shadowbox" href="/images/stories/2012/07/sqmjuly91.gif" title="Click to enlarge">For advice on buying your dream land package, </a><a _cke_saved_href="https://www.propertyobserver.com.au/short-course/free-short-course-10-keys-to-buying-your-dream-land-package" target="_blank" href="/property-observer">sign up for our free short course</a>.
</body></html>

Oversupply figures paint distorted housing picture of outer-Melbourne suburb of Clyde amid Melbourne’s 55,000 listings

<html><body>
Markedly fewer economists expect the Reserve Bank to cut interest rates in August following last week’s decision to keep the cash rate unchanged at 3.5% at the July 3 meeting.
Of the 25 economists surveyed by Bloomberg on July 6, just over half – 13 out of 25 – expect the RBA to cut rates on August 7.
This compared with more than two-thirds of economists (19 out 28) surveyed a week before the July 3 meeting who said the RBA would cut rates on August 7.
Among the four major banks, ANZ has shifted from expecting a rate cut in August to now anticipating rates to remain on hold. The three other major banks continue to expect the RBA to cut the cash rate in August.
The RBA monetary policy decision statement of July 3 appears to have created more uncertainty about an August rate cut.
The statement noted a “more subdued international outlook than was the case a few months ago” and said that the local economy “continued to grow in the first part of 2012, at a pace somewhat stronger than had been earlier indicated”.
It noted, however, that housing remained “subdued”.
The June statement – following the 25-basis-point cut in June – spoke of a “more uncertain international environment”, deteriorating financial market sentiment and declining house prices.
Looking beyond August, the picture is cloudier about where interest rates may be heading.
The median expectation among the 25 economists survey by Bloomberg is for just one more rate cut over the next 12 months to a cash rate of 3.25%.
However, there is a wide divergence of opinion, with a forecast range from 2.5% to 4% by the end of the financial year. Of the 25 economists surveyed, 13 expect the cash rate setting to be 3.25%, which would mean just one more rate cut.
Westpac is still forecasting a cash rate of 2.75% by year end. According to Westpac chief economist Bill Evans, a cash rate of 2.75%  would mean an average standard variable mortgage rate of between 6.05% and 6.5%, given the current gap in the cash rate and bank mortgage rates.
There is even wider divergence among economists polled by Bloomberg after June 2013. While the median remains at 3.25%, just five economists are forecasting this to be the cash rate, with forecasts ranging from a cash rate of 2.5% to 4.5%.
A separate Saturday Age survey of 22 economists compiled by Tim Colebatch forecasts an average cash rate of 3% by June 2013, equating to two 25-basis-point rate cuts.
Out of the 22 economists polled, 12, expect a cash rate of 3.25% by the end of the financial year, a view held by noted chief economists Alan Oster (NAB), Shane Oliver (AMP Capital) and Paul Bloxham (HSBC).
By far the most bearish is Neville Norman, associate professor in the department of economics at Melbourne University, who forecasts the cash rate to rise to 4.5% by year end.
Forecast of 22 economists polled by Saturday Age:
2.75% Burchell Wilson (ACCI), Des Moore (Institute for Private Enterprise), Andrew Hanlan (Westpac), Julie Toth (Australian Industry Group), Tom Kennedy (JP Morgan)
3% Brad Crofts (Australian Workers Union), Richard Gibbs (Macquarie Bank), Peter Jones (MBA)
3.25% Saul Eslake (Bank of America Merrill Lynch), Richard Robinson (BIS Shrapnel), Chris Caton (BT Financial Group), Michael Workman (CBA),  Andrew Boak (Goldman Sachs Australia), Andrew Harvey (HIA), Paul Bloxham (HSBC), Alan Oster (NAB), Hans Kunnen (St.George), Annette Beacher (TD Securities),
3.5% Jakob Madsen (Monash University)
4.5% Neville Norman (Melbourne University)
</body></html>

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Guides

Developments

New apartments

New townhouses

News

Latest Expert Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Guides

Editor's Picks

Receive the latest news stories to your inbox

Guides

Developments

New apartments

New townhouses

News