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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If you don’t have a lot to look at this weekend, go and choose a really good coffee house (such as Porgie and Mr Jones in Auburn Road, Hawthorn East or Coin Laundry Armadale Street, Armadale or The Little Ox in New Street, Brighton). Do this without the kids, sit down and have a chat and a think.
If you are feeling frustrated, annoyed, scared – well, perhaps “chill” for a moment, as they say.
Buying a home should be a 20-year decision. Even if you have been looking for a year, you are probably less than 5% into that time frame. Unless you’re aged 90 and hoping to get the first-home buyers’ bonus, you have got time.
Right now the market is on the side of those who are considered and patient.
If your frustration is escalating, consider a change of habits. Very few properties are selling on the first day they hit the internet. (Although it’s true that a few are being bought off market or before auction, and for that you need a plan.) But looking at the internet four times a day like a teenager constantly checking her Facebook page will not help your mental state. And your mental state is so important in home hunting.
Try not to be afraid that you’ll never find something. Unless you are a Martian with unique requirements, you will find a home. Right now stock is short for lots of people, but things will improve. Don’t buy crap out of a sense of frustration.
If you are in the wrong head space you can end up making poor decisions – and those poor decisions can affect your whole life.
Review your results
So you’ve been looking all this year. How did you go? Have you bid on anything, were you close or have you not found anything of interest?
Back in 2010, if you hadn’t found anything after looking for six to 12 months, our advice would have been to look at your requirements and see how realistic you were – because in 2010 there was a lot on offer. However this is 2012 and the levels of correctly priced, exciting stock have been considerably lower. So your goals may be reasonable, it’s just there’s little stock choice. Our best advice is try not to make a kneejerk reaction to shift to a different set of goals without considerable thought.
Consider changes
In 2012 we suggest you take a more general overview. That’s code for “don’t be too hard on yourself”. Even if you haven’t found your dream home, think about whether you have seen homes within your price range, type and area that are similar to what you want? If your answer is yes, our advice is don’t change course – be patient. If your answer is no, then it may be time to consider a different suburb, a different type of home or more money. Dare I say it– it may be time to seek professional advice to ascertain your best options.
Reinvigorate your plan
Take the next couple of months to review. When the school holidays have become just a painful memory and we are heading into the footy finals and starting to see the first flush of early spring home releases, that will be the right time to smarten up you act. Spend some time now on getting clear on what you can do, getting motivated on what you want and resting so you are set to go when the stock options improve.
Mal James is principal of<a target="_blank" href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.</body></html>

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How to avoid the winter home hunting blues: Step one – stay patient: Mal James

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One of Canberra’s greenest office building projects is now 80% leased as demand grows for premium-grade office stock with high environmental ratings, according to Colliers. 
Just two floors out of the 10 in Nishi Commercial – part of developer the Molonglo Group’s mixed-use NewActon project – remain available for lease, with office tenants set to move across in November. 
<img src="/images/stories/2012/06/nishi5.jpg">
Office component
The building, billed as an end to “glass box” offices, has been designed by architecture practice Fender Katsalidis in conjunction with sustainable engineering firm Arup, the firm behind the iconic Beijing Olympic Water Cube and Gherkin building in London. 
The 21,700-square-metre Nishi building has been designed to meet five-star NABERS and six green star ratings and will fittingly become the headquarters for Department of Climate Change and Energy Efficiency, which is its anchor tenant. 
Other tenants include law firm Clayton Utz and the Australian Competition and Consumer Commission. 
It will feature the largest single-building solar panel installation (400 kW) on any commercial building in Australia and is classified as a Solar Farm under ACT Government legislation. 
<img src="/images/stories/2012/06/nishi4.jpg">
Residential component
“Leasing one floor at Nishi is the equivalent to planting 1,387 trees or equal to preserving 7,500 square metres of rain forest annually,” says Rupert Cullen, state director of real estate management at Colliers, which has been appointed as building manager. 
Other key sustainable features included mixed-mode air-conditioning, an under-floor displacement air handling system and a high-performance façade that optimises daylight penetration. 
In its latest Canberra CBD office research and forecast report, Colliers says that since  2007 there has been “tenant-driven interest in modern, environmentally savvy buildings, and this trend has grown to present day”. 
A-grade office space has grown to 39% of available stock, “changing the profile of the Canberra office market from one of low-quality building to one of high-quality buildings, attracting long-term tenants, creating security and good cashflow for investors”. 
Colliers says that due to a limited amounts of new stock coming to the market in the first half of 2012, “the once tenant-controlled market is shifting to favour landlords with premium space”. 
Net effective rents for A-grade stock have risen 3.4% in the last six months, with the A-grade CBD market vacancy rate falling from 11% to 7.6% over the past two years. 
Investors who hold A-grade stock in the CBD can expect yields of between 7.25% to 7.75%, with one square metre of office space renting for between $425 and $500. 
Colliers says that over the next six months just three buildings – providing an estimated 3,750 square metres of space – are expected to be delivered in the Canberra region.
Click to enlarge
<a href="/images/stories/2012/06/colliersjune251.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/06/colliersjune251thumb.gif"></a>
The Colliers report anticipates a pick-up in white collar employment growth from January next year, which will boost demand for office space.
Canberra, with a stable civil servant employer base, has one of the lowest unemployment rates in Australia, standing at just 3.8% for the fourth quarter of 2011, according to the ABS. 
This is 1.4 percentage points below the national unemployment rate of 5.3%.
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Canberra’s very green Nishi office block 80% leased as demand for premium office space rises: Colliers

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A Bellevue Hill unit that sold for $2.92 million leads the top 10 notified sales of the week, according to RP Data.
The 373-square-metre apartment with harbour views last sold in 2005 for $2,005,000. It was briefly listed in 2008 but no sale was reported. The median unit price in <a target="_blank" href="/news">Bellevue Hill</a> is $652,250, according to RP Data.
<img src="/images/stories/2012/06/astongarden1.jpg">
This is the second week in a row with no sales reported over $3 million.
Six of the top 10 sales this week were in NSW, with the remaining four in Victoria.
<a target="_blank" href="/news">A double oceanfront block on Collaroy Beach sold this week for $8.7 million</a>, but the sale price was unreported.
1. <a target="_blank" href="https://www.myrp.com.au/n/1-7-aston-garden-bellevue-hill-nsw-2023/myrp-490?propertyId=1366521">1/7 Aston Garden, Bellevue Hill, NSW, 2023</a>, four-bedroom unit, sold at auction on June 21 by Raine &amp; Horne Double Bay for $2.92 million
2. <a target="_blank" href="https://www.myrp.com.au/n/2-10-yarranabbe-road-darling-point-nsw-2027/myrp-490?propertyId=2064819">2/10 Yarranabbe Road, Darling Point, NSW</a>, three-bedroom unit, sold at auction on June 19 by Bradfield Cleary for $2.9 million
3. <a target="_blank" href="https://www.myrp.com.au/n/331-gallaghers-road-glen-waverley-vic-3150/myrp-490?propertyId=15711131">331 Gallaghers Road, Glen Waverley, VIC, 3150</a>, six-bedroom house, sold at auction on June 23 by Ray White Real Estate Glen Waverley for $2.88 million
4. <a target="_blank" href="https://www.myrp.com.au/n/20-mistral-avenue-mosman-nsw-2088/myrp-490?propertyId=4493146">20 Mistral Avenue, Mosman, NSW, 2088</a>, four-bedroom house, sold before auction on June 23 by McGrath Estate Agents for $2,425,000
5. <a target="_blank" href="https://www.myrp.com.au/n/134-addison-road-manly-nsw-2095/myrp-490?propertyId=3970516">134 Addison Road, Manly, NSW, 2095</a>, four-bedroom house, sold on June 19 by Century 21 Williams Manly for $2.16 million
6. <a target="_blank" href="https://www.myrp.com.au/n/280-aldington-road-kemps-creek-nsw-2178/myrp-490?propertyId=3270620">280 Aldington Road, Kemps Creek, NSW, 2178</a>, four-bedroom house, sold at auction on June 23 by Inglis Property Macarthur for $2.07 million
7. <a target="_blank" href="https://www.myrp.com.au/n/2-northcote-avenue-balwyn-vic-3103/myrp-490?propertyId=9565093">2 Northcote Avenue, Balwyn, VIC, 3103</a>, six-bedroom house, sold at auction on June 23 by Marshall White Real Estate for $2.05 million
8. <a target="_blank" href="https://www.myrp.com.au/n/34-norbert-street-balwyn-vic-3103/myrp-490?propertyId=9565080">34 Norbert Street, Balwyn, VIC, 3103</a>, four-bedroom house, sold at auction on June 23 by Jellis Craig Real Estate Hawthorn for $1,935,000
9. <a target="_blank" href="https://www.myrp.com.au/n/7-selwyn-street-artarmon-nsw-2064/myrp-490?propertyId=8131994">7 Selwyn Street, Artarmon, NSW, 2064</a>, four-bedroom house, sold at auction on June 23 by McGrath Estate Agents for $1.85 million
10. <a target="_blank" href="https://www.myrp.com.au/n/783-punt-road-south-yarra-vic-3141/myrp-490?propertyId=13144899">783 Punt Road, South Yarra, VIC, 3141</a>, five-bedroom house, sold at auction on June 23 by Bennison Mackinnon Real Estate for $1.83 million
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Bellevue Hill unit tops week’s reported sales at $2.92 million: RP Data

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There has been plenty of talk of late about the bottom of the Queensland property market and whether it is here or indeed has already passed. It is almost like a mythical beastie that everyone tries to identify but in reality few actually do. This is because – just like coming face to face with an ogre masquerading as a human – it can be quite a scary proposition. Well, it was the time I thought I caught a glimpse of one.
I have always said everyone has different bottoms (chortles inserted here please). That is what makes the world such an interesting place. When it comes to the property market, some people might wait for a time when they believe prices have bottomed out and when activity is usually also low. Others might wait for prices to start to increase marginally or wait for activity to increase ever-so-slightly.
Whichever timing is the best for you, buying property is usually the biggest financial decision you will make in your lifetime, and there is likely to be a certain amount of stress involved, regardless of when or how often you buy.
In January this year, I took the plunge and bought an off-the-plan investment property. It was in an enviable location close to the city, had strong capital growth and rent potential and, well, the design was funky – I am a woman, after all. At that point in time, I thought the bottom of the market had arrived. From talking to agents it seemed there was a little more confidence in the market, more people were venturing out to open homes, and the remnants of last year’s natural disasters were nearly a calendar year behind us.
I signed on the dotted line within a few days of first seeing the plans and after doing so much extra research I thought that my eyeballs or my brain might fall out on my desk. Thankfully neither of those things happened otherwise it would be very difficult for me to write this column. I acted quickly because – just like my first property purchase – I had a good feeling about the development and it ticked all the boxes when I considered the various investment property criteria.  Was I nervous? Yes. Did I know with 100% certainty that I was buying at the bottom of the market? No, but I was prepared to give it a shot. So were plenty of other buyers I found out, with the development almost selling out within the March quarter.
Five months on from that decision, the diggers have moved in and soon the development will start to take shape. I am a little jealous that I will never live in it, because it does have primo views across the river, but apart from that I am happy with the decision I made. When it comes down to it, it is only you who knows when it is the right time to buy and in the end which bottom you would prefer.
Nicola McDougall is media and communications manager for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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The bottom of the property market – and the best time to buy – differs for everyone

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Prices for some apartments in Vicland’s Southbank development, Habitat, have been cut by $30,000.
Motion Property is selling four two-bedroom apartments, which now start at $530,000.
Until June 30, first-home buyers who buy a property under $600,000 <a target="_blank" href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">will be entitled to a $13,000 bonus from the Victorian governmnent. </a>From July 1 this year, first-home buyers will be entitled to a 20% reduction in stamp duty on homes under $600,000. For a home costing $600,000, this equates to a stamp duty savings of $6,214, less than half what a first-home buyer would secure from the first-home bonus.
<img src="/images/stories/2012/06/habitat.jpg">
The building is the work of Melbourne architectural firm RotheLowman, which instead of individual balconies for apartments designed communal, three-storey vertical gardens with built-in furniture on each level. This was to avoid the noise from the neighbouring elevated freeway.
The building is currently under construction on Clarke Street, and the roof is expected to include landscaping, a cinema and dining spaces.
The project is billed as environmentally friendly, even including a bike workshop on the bottom floor.
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Southbank development Habitat slashes two-bedroom prices by $30,000, with first-home buyer deadline days away

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I have to admit that I am excited. Excited about the release of the results of the 2011 census. I have always seen reliable demographics as the foundation of successful project marketing. We are very lucky to have the ABS as a resource; the organisation is a world leader.
I am also sure that no one would disagree that demographics are important and that access to current statistics even more so.
Most new developments are often being built in areas where rapid change is taking place. Populations are never really static, and change can include areas that are being gentrified as old industrial sites give way to residential projects.
Green-field developments will pose a slightly different hurdle, as the current population mix clearly has very little in common with the potential new community.
These are straightforward examples, however change is not always this easily defined. With each new census we usually see the big-ticket raw figures grab the headlines. But I see the changes that are not always visible as being the real keys to advancing many project marketing issues. Keeping track of demographic shifts and trends will help us all make sure the most suitable product is delivered to the market.
So the 2011 census figures are very welcome, but not only for the immediate headlines about this or that boom or surprising social trend. The longer-term value comes from a blending of the key social and economic trends that impact the demand for housing. 
How, for example, will the big changes in family formation impact demand and where people might choose to live? There are more older people and more singles, but where are the pressure points for population growth, and is growth being fuelled by new births or immigration?
The facts behind the growth and population trends always demand much closer scrutiny and it is vital to have up to date information on every local market you deal with.
These are key facts we can now look at in almost real time because of the delivery of the census. One area to briefly highlight is the changes taking place in some key age brackets. A quick review of the 30-44 age bracket shows they now represent just over 21% of the population. This is important because this group is more likely than any other to be the next immediate generation of home buyers. The 70-plus age bracket is also creeping up from 9.4% in 2006 to be 9.7% in 2011.
Australia’s housing stock has increased from 8,446,726 to 9,140,231 a jump of 693,505 new homes, with Sydney, Darwin and Canberra now sharing the highest median household mortgage repayments at $2,167.
I hope your share my enthusiasm for census 2011, and I am sure we will be sharing some of the many key results and their impact over coming months.
Peter Chittenden is managing director for residential of ;<a target="_blank" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International</a>
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Results of 2011 census will help developers find the most suitable project for the market

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Prices may be rather attractive at the moment, but the days of quick and easy financing are over.
Furthermore, the tight credit market is making it tough for some investors to secure loans.
Nonetheless, with a little creativity and preparation, you can often bring otherwise-doubtful funding options within your reach.
And if you want to take advantage of some great opportunities at the moment, here are a few tips to improve your chances of success.
Increase your initial equity
Let's start with something simple. By contributing 30% to 35% upfront for your new purchase, you will secure your loan and probably obtain a better deal on your interest rate.
But if you don't have the immediate cash to do that, you consider a line of credit on your home or no investment property to bridge the gap.
Steer clear of the big four banks
If your initial equity isn't quite as big as it should be, you might consider a neighbourhood bank for financing rather than one of the big banks.
You'll find them to be a little more flexible; plus, they may also know your local market better and prefer investing locally.
Engaging a good mortgage broker is another good option — because they have access to a wide range of loan products. But make sure you deal with someone who knows how to find investor money.
Seek help from the vendor with financing
Right now, some vendors may be prepared to leave some money in the deal for a few years.
But you need a game plan — to "sell" the vendors on financing,
And you need to sell the vendor on you as well.
You need to paint a confident picture so they don't fill in the blanks with their worst fears.
Think outside the box
You may be looking to buy a vacant property, where you know a tenant can be easily found. But a few things need to be done to it first.
Most investors would seek to "screw the best price" out of the vendors, to help offset some of the upgrade costs involved.
That is your first big mistake!
The better outcome would be to have the vendors agree to a six-month settlement but grant you access to renovate after 30 days.
That way, you can complete the upgrade work and have the property fully let before settlement.
But more importantly, you will be borrowing on a higher-valued property — which should cover your upgrade costs. If you settle early, those costs will come out of your own pocket.
Bottom line: In the current market creativity rules.
Never go into a negotiation fixated on price. With just one item to resolve, there is always a winner and a loser.
Instead, it's often far more productive to let the vendors name the price, but you name the terms.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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With a little creativity, you can secure funding for commercial property investment

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Balancing a real estate market is not an easy task.  Too much supply and prices fall – too little and they rise. Over time, various incentives – negative gearing, grants for first-home buyers, reduced stamp duty rates for off-the-plan sales and new homes, have been introduced, changed, and intermittently withdrawn by government “movers and shakers”. All have the effect of falsely influencing consumer demand one way or another.  Sometimes it’s done in favour of the investor, sometimes the home buyer, however in most circumstances it results in price increases rather than the opposite.
As the RBA is well aware, it’s a fine line you tread when it comes to maintaining stability. It takes careful analysis of a broad range of data and an intrinsic understanding of various micro markets before decisions are made.  However when it comes to the property market, state laws seem to dictate their own agenda, not to mention the federal government stirring the pot whenever it’s time to collect more revenue.
For example, when the budget came out, Wayne Swan saw fit to remove the 50% CGT discount – previously available for non-residents who have held property for a 12 month period or more – with no warning and a little addition added to “honour the discount in relation to any existing accrued capital gains ONLY if the non-resident obtained a market valuation for the asset as at May 8, 2012”.
<a href="https://www.propertyobserver.com.au/overseas/budget-cgt-change-could-be-extremely-expensive-for-expat-and-offshore-investors-michael-matusik/2012051454689" target="_blank">As Michael Matusik correctly pointed out earlier this year</a>, the sudden change will reduce demand from foreign and expat investors.  Considering most offshore purchases of property are new home or off-the-plan sales, it will adversely affect construction resulting in further stagnation of supply concentrating demand on existing dwellings.  GFC aside, metropolitan property prices in Australia are counted amongst the world’s highest. Therefore it’s vital we plan our cities effectively if the aim is to keep real estate affordable and reduce inner-city inflation in the established housing market.  It’s something our governments have yet to achieve – as analysis of boom/bust housing cycles prove.
Encouraging broad-based investment with policies such as negative gearing, which incites investors to enter into the established housing market rather than the “new home” market, do nothing to increase the supply and stimulate the many retail offshoots that benefit from construction. However it’s vital we do so if we value our ethical responsibility to provide enough affordable choices for home buyers and also magnify the supply of rental accommodation.  As the recently released 2011 census data shows, the national median weekly rent has risen 50% since the last census in 2006.  Not surprisingly there’s also an increase in the number of households getting stuck on the rental ladder, with 10% paying in excess of 30% of their income for the privilege.
Those in favour of negative gearing always base their arguments on the historical data, which proved a rise in yields in Sydney and Perth when the policy was withdrawn during the Hawke government in 1986-1988.  There are a few issues with this – firstly, the policy changes were not in effect long enough for a reasonable adjustment of market demand to be established.  For example, due to a very low vacancy rate at the time in both Sydney and Perth, rents naturally rose.  It’s worth noting – as others have done, including Saul Eslake, on numerous occasions – that rents did not rise nationally and in Melbourne, growth actually slowed.  If the market had been allowed to adjust to the changes, the consequence would likely have eventuated in investor demand decreasing in the established market, levelling the playing field somewhat for first-home buyers to gain a foothold.
It’s also worth noting at the same time the policy was withdrawn, the Hawke government encouraged the supply of new housing by the introduction of:
“Accelerated depreciation for new buildings or major renovations in order to create more rental property and more opportunities for renters”. (Keating, 1985).
Unfortunately, two years of changes were not enough to monitor the success or otherwise of the plan.  Lobbying from the real estate industry and investors, who had previously benefitted from the scheme, resulted in political back-pedaling.  All in all, it was badly handled.
No other country has such generous negative gearing policies as Australia when it comes to property investment.  Yet investors don’t leave these markets in droves.  With the policy as it stands, there is no limitation on the number of residential homes a single investor can claim against.  Consequently, we see large property portfolios acquired by a smaller percentage of the population who benefit most from reducing their tax burden and consequently, less supply for the majority market.
We need a phasing back of the current policy while at the same time planning outer-suburban and rural/regional growth with infrastructure – if not already established, then at least approved and funded – to ensure we continue to provide feasible options for home buyers and not just vacant dwellings in paddock lands.
While we will always need property investors to assist the supply of rental accommodation, for those unwilling or unable to purchase, property should not become a speculators’ domain.  Over-investment in property markets drives up demand and consequently prices, resulting in higher rent – not lower.  Rather, property’s prime function as an abode for shelter should be respected in so much as any policy is aimed at making it an achievable option for our growing populous.
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However, it’s not just distortion from negative gearing that has negative effects on property prices.  The other initiatives I mentioned at the start of this article, such as the first-home owners’ grant, have done their fair share to ramp up debt in Australia’s residential market.  For example, I was recently asked to negotiate on a property that was purchased late 2009, when the first-home owners’ boost was available.  The one-bedroom unit in question was acquired off the plan, therefore, when reduced stamp duty had been taken into account, along with federal and state incentives, the owner would have benefitted from some $30,000 ‘saving’.  However – even taking into account comparable sales during the same period when purchased – the asking price at the time was easily $30,000 in excess of what it should have been – arguably even $50,000 in excess. Three years later, and the owner of the property in question never moved into the home due to a change in circumstance (boy meets girl).  Consequently – the property is “as new” – never lived in.
The documentation provided in the vendor statement shows the mortgage still owing on the home (in excess of 80%) remains above current market value.  Clearly the grant did little to help this vendor purchase – it simply helped him spend above and beyond what the commodity was worth and landed a first-home buyer – now starting a family – with a debt burden he won’t be able to resolve with a quick sale.  It’s one of the more interesting examples of many similar stories I come across monthly.
Despite the many incentives offered under the guise of “helping affordability”, Australia’s household debt-to-income ratio has accelerated to a little under 150%.  Perhaps it’s time to admit that the intention in the first place was not to assist affordability at all. Rather they were introduced to “prop up” the property market subsequently encouraging a greater debt burden. Considering the tax revenue governments receive from the housing market it’s no surprise there’s a fear of any natural reduction in demand. Stamp duty – taken under the guise of covering “transaction costs” – is without doubt an extortionate tax albeit a major source of revenue.
The question of how/if to replace it has been debated for years, however as Andrew Leigh MP noted in 2009 observations on the <a href="https://andrewleigh.org/pdf/StampDuty.pdf">“impacts of stamp duty on housing turnover"</a> show a <a href="https://andrewleigh.org/pdf/StampDuty.pdf">“10% increase in stamp duty lowers turnover by 1-2% in the first year, and by 4-5% if sustained over a three-year period.”</a> The reluctance to sell due to stamp duty charges has the potential of encouraging a “mis-match” between the type of property and family size.  It’s doubtful we’ll see any short-term answer to housing tax reform, therefore other strategies to improve affordability and create a greater supply of residential housing and supporting infrastructure are required.
Despite all the handouts, incentives and abundance of market meddling, we’re no closer to solving Australia’s housing problem than we were decades ago. As the 2011 census shows, Australia’s population has grown by nearly five times over the past 100 years and yet the vacancy rate for the last 30 of those years (the true guide to the housing shortage) has never exceeded 5%.
No one likes the idea of losing equity in their principal place of residence, however there’s a reluctance to accept that the pre-GFC relatively long-lasting boom in house prices is no longer a feature of Australia’s real estate terrain. RBA governor Glenn Steven’s has twice sought reason to warn us about, once in 2010 when he stated:
"I think it is a mistake to assume that a riskless, easy guaranteed way to prosperity is just to be leveraged up into property. It isn't going to be that easy,"
And <a href="https://www.propertyobserver.com.au/economy/the-rba-s-glass-half-full-chart-presentation-to-the-prime-minister-s-global-economy-forum/2012061255091">more recently in his “Glass Half Full Speech”</a>, when he stated that the return to confidence we don’t need is;
“The kind of confidence based on nothing more than expectations of ever-increasing housing prices, with the associated willingness to continue increasing leverage, on the assumption that this is a sure way to wealth, would not be the right kind.”
The RBA has made it clear it is not in the business of creating boom bust cycles.  However there’s an overall reluctance by state and federal government to take its fingers out the pot and stop feeding a beast that will forever require market meddling to prevent a return to what Glenn Stevens calls “building wealth the old-fashioned way” – careful saving and strategic long-term educative planning.  If it weren’t for the commodity boom propping up weakness in the economy, we’d have suffered the same demise as Europe. In such a case, Prime Minister Julia Gillard wouldn’t have been giving lectures to world leaders at the G20 summit – she would have been receiving them.
Market meddling in the housing industry is based partly on greed and partly on a broad misunderstanding of the policies needed to balance it for all – not just a few. As the 2011 census data has shown, home ownership is reducing, not increasing. We don’t need meddling in the housing market from those sitting behind desks – who don’t work daily with buyers, sellers and renters, and therefore have little understanding of housing market dynamics outside of ‘on paper’ data.
A healthy market is one that is allowed to rise and fall thereby establishing its own long-term trend.  The role of government should be to provide equal opportunity for all and not target policy initiatives on a select few. We need more than a CEO sleep-out, which managed to reach top trending spot on Twitter last week, to raise awareness of the fundamental need for affordable secure shelter.  There’s not a single country that has completely cracked the problem of homelessness, however I have great belief in Australia – one of the pioneers of democratic rights – as a country with abundant potential to do so.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. She is Channel Ten’s property expert on <a href="https://ten.com.au/the-circle.htm">The Circle</a>.
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Governments must stop meddling in property markets – and negative gearing has to go

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Since the middle of the last decade, the average hold period of homes has continually increased as affordability barriers and high exit costs result in owners holding on to their properties rather than buying new ones.
The average hold period is calculated simply as the difference between the most recent date of sale compared to the previous date of sale. When we quote this figure, we determine an average based on all of the homes sold over the past year.
Across Australia, the average hold period for a house is recorded at 9.0 years and at 7.7 years for a unit. The average hold period has continued to increase over the past year. At the same time last year the hold period was recorded at 8.5 years for houses and 7.4 years for units. The average hold period for houses and units was fairly static until late 2005 and actually declined during the 2001-04 property boom, but it has since consistently increased.
At an individual capital city level, Melbourne houses and units have had the longest average hold period over the past year at 10.4 years and 8.3 years respectively. Sydney has the second highest average hold period. Given that Sydney and Melbourne are the most populous capital cities and also two of the most expensive, it is no surprise to see that they also have the longest length of tenure. It appears that home owners are increasingly likely to keep their current properties rather than upgrade due to the significant cost.
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The trend towards longer tenure is evident across each capital city market, all of which are showing an increase in the average hold period of both houses and units over the past year. As the table shows, the average hold period across each capital is much higher than it was five years ago and substantially higher than they were in 2000.
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When the average hold period data is paired with the annual volume of sales data, you can see that as the volume of sales has fallen, the length of ownership has increased. Of course, this is a logical explanation, if fewer transactions are taking place people still need to live somewhere, so they are going to be more inclined to stay in their current home. Click to enlarge
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The increase in the average hold period has also occurred over more recent years, a time in which growth in home values has been significantly lower. Of course, in March 2000 median home prices were much lower than they are today, which would suggest that housing affordability is a barrier to people moving and upgrading their home. The March 2012 national median home price was $400,000 compared to $168,000 in March 2000. Another point to note is that as homes get more expensive the amount of stamp duty payable on the sale increases as does the commission payable to the real estate agent. These may also be factors that are contributing to the increasing length of ownership.  
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The fact that the average hold period has been increasing as homes got more expensive and the rate of capital gain slowed along with the ongoing decline in sales activity has ramifications for the market and its participants such as:
<ul>
<li>There is less stamp duty collected by local and state governments because of fewer sales transactions.</li>
<li>There is less commission available for real estate agents and mortgage brokers.</li>
<li>There is less new business for financial institutions; as a result they have to compete more heavily in the refinance space.</li>
<li>Many families are likely to be living in homes which don’t appropriately meet their needs.</li>
<li>The data suggests that, instead of moving, people are looking to renovate their current homes.</li>
</ul>
Overall, we believe that the increase in the average hold period is a response to a number of factors. The main contributors are housing affordability and the costs associated with moving. However, it also probably has to do with the fact that the type of property available and the types of new housing stock being delivered are not meeting buyers’ needs. Whether that be cost, design or location, it is clear the stock available is not what buyers are looking for.
We anticipate that the average hold period will continue to increase over the coming years as private sector demand for credit growth remains below historic levels, sales volumes remain below their peaks and affordability barriers mean that people choose to upgrade their current home rather than upgrade to a new one.
Cameron Kusher is senior data analyst at <a target="_blank" href="https://www.rpdata.net.au/">RP Data</a>.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Affordability barriers mean home sellers staying put for longer: Cameron Kusher

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The Real Estate Institute of Victoria (REIV) expects no appreciation in the Melbourne housing market in the next few years, with a lack of demand for real property one of the reasons.
In his June 2012 State of the Victorian Property Market report, REIV spokesman Robert Larocca includes a graph that shows particularly low levels of first-home buyer demand for property, as well as a fall in the number in other buyers. The first-home buyer market is often seen as the springboard for growth elsewhere in the market.
First-home buyer numbers have fallen from a high of 4,595 a month in May 2009 to just 1,980 as of April 2012 – having hovered around the 2,000 mark since October 2010.
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“Low rates of economic growth in Victoria coupled with lower population growth and with almost no unmet demand underpin at best moderate growth in the medium term,” says Larocca.
The graph shows that from March 2009 to April 2009 there were more than 4,000 first-home buyers every month.
This was a time when the Victorian government’s first-home owners’ boost was available (in addition to the $7,000 federal first-home owners’ grant).
It offered an extra $14,000 for those who built a new home or bought a newly constructed dwelling and an extra $7,000 for those buying an existing home and ran from October 14, 2008 to September 30, 2009.
The boost halved from October 1, 2009 to December 31, 2009.
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