<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]

Joel Robinson

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

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

NSW parliament passes 10-year defect insurance laws for new apartment buyers

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>
Let's face it, we’re living through a period of great economic volatility, and a lot of what we hear from the media lately is scary stuff. 
Each day seems to bring more potential doom and gloom – another report of a company failure, more jobs lost, a schizophrenic global economy and concern about an impending recession around the world. 
This continuing conveyer belt of bad news has a way of instilling fear into us, causing many of us to withdraw from the markets and become obsessed with the worst-case scenario. 
Some doomsayers are suggesting we should sell up all our properties before the almighty crash arrives here, just like it has in the US and in parts of Europe, while other commentators suggest our current markets present some great opportunities. 
So is it a good time to buy properties or is it time to sell up everything? 
I wouldn’t blame you for feeling confused – it's difficult to sort through all the information and statistics bombarding us every day.
Sure, the real estate markets have slowed down and property values have fallen over the last year or two.
But while the doomsday speculators would like us to believe this is the end of the world as we know it, the truth is there are always peaks and troughs in property. It's just the way the market works.
Since I started investing almost 40 years ago, I’ve lived through nine property cycles, and in every decade there has been a three- or four-year period when the property markets have been flat or falling. Yet at the end of each decade the value of well located properties have doubled.
Why property values in Australia will increase in the long term
And there is no reason that this won’t continue to be the case for capital city properties around Australia.
The long-term value of property markets will be buoyed up by:
<ul>
<li>A growing population as we import more people to provide the required skilled labourers as well as replacing  the retiring baby boomers; and</li>
<li>our nation becomes wealthier driven by the mother of all property booms.</li>
</ul>
Why we won’t have a property crash: And we won’t have a property crash here like has happened in overseas markets because a number of factors are underpinning our property markets including:
<ul>
<li>
A healthy economy that has bucked the global trend as it grows strongly and that has become the envy of most developed nations. But there is still room for the government to stimulate growth further if required. (Hopefully the government has learned for last time and will think of something more sensible than pink bats) 
</li>
<li>Even though our interest rates are relatively low in the hope of stimulating the economy, the RBA has the ability to drop them further if required to further stimulate the economy. Compare this to overseas, where interest rates in the USA, Britain, Japan and Europe have been so close to zero that there is no scope to stimulate the economy with low rates. 
</li>
<li>Our low unemployment rate means that the average Australian’s job is secure. While job security fears appear to be playing on consumer confidence, data released by the Australian Bureau of Statistics showed the number of people in work rose by 39,800 in May, blowing out of the water some commentators expectations rising unemployment. Of course the job losses in sectors undergoing structural change are a concern, but we do need to focus on the big picture and remember that unemployment is close to historical lows. 
</li>
<li>We have a sound banking system and relatively few people in mortgage distress. 
</li>
<li>Our balance sheets are in good shape. Our government, our banks, many companies and most Australians have taken a conservative view since the GFC and paid down debt, including company debt, home mortgages and credit card debt.  In fact, at much of the outstanding household debt is in the hands of the wealthier people, those who can afford it. 
</li>
<li>We’re in the early stages of the mother of all resources booms. Sure China has slowed down a little recently, but there’s hundreds of billions of dollars worth of infrastructure spending already committed to Australia over the next few years and over the next two decades, the growth in China, India and to a lesser extent other developing Asian countries will underpin our resources sector.</li>
</ul>
 
<hr class="system-pagebreak">
 
Is the cup half empty or half full?
It’s important not to trivialise the possible consequences of the world’s problems, but equally it’s important to remember that every cycle brings downturns and times of opportunity.
In my experience, difficult economic times offer outstanding opportunities for those who are prepared.
You see, wealth is not necessarily lost during times of financial crisis. It is transferred from the financially uneducated to the financially fluent.
We have had global financial downturns before and we’ll have them again, because economic markets move in cycles. While the specifics may change, the patterns are similar.
The losers in financial crises will tend to be those who are over leveraged and don’t have cashflow buffers, those who speculate and investors who overreact and make long-term investment decisions based on short-term emotional factors.
On the other hand, the winners will be those cashed-up investors who have the long-term perspective to spot opportunities. 
The big lesson is: “This too shall pass.” Unfortunately the current world economic problems will not go away quickly, and we are entering new era in the financial markets. But this is not a time to panic or make rash emotional decisions. It is a time to learn from history. 
Take a look at the graph below from <a href="https://www.rpdata.com.au/">RP Data</a> , which highlight the upward growth of property over the long term. As you can clearly see, there have been long periods when the market has been flat before, but the general trend in property prices is an upward one.
<img src="/images/stories/2012/06/yardjune22.png">
In all capital cities growth has averaged around 8%, compounding each year over the last 25 years. 
But these are just averages. The better your property selection – where you buy, what you buy, how well you negotiate and how you finance your property investment – the better your returns could be. 
Look what happened over the last decade. Fact is about 10 years ago we were paying around $390,000 for the average house in Sydney, the median house price in Melbourne was just over $300,000 and in Brisbane the median house price was $171,000. It was $172,000 in Perth; $213,000 in Canberra,$189,000 in Darwin; $156,000 in Adelaide and $195,000 in Hobart.
Go back another 10 years to 1992 and we were paying around $182,000 for the average house in Sydney, the median house price in Melbourne was just over $138,000 and in Brisbane the median house price was $116,000. It was $172,000 in Perth; $96,000 in Canberra, $117,000 in Darwin; $108,000 in Adelaide and $91,000 in Hobart.
Fast forward 10 years. If history repeats itself, as it surely will, while the majority of Australians will sit on the sidelines waiting for things to work themselves out, a group of successful investors will be looking for and buying investment opportunities created by the changes. 
Then, when we look back in 10 years’ time we’ll probably remember a decade of economic turmoil, but, as always, we’ll wish we had bought more properties when they cost about 50% less when they were  “on sale” 10 years earlier.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
</body></html>

myardney-DFoGhGbSJX

The current economic turmoil presents opportunities for property investors

<html><body>
The warehouse premises where Channel Ten filmed its ratings dud The Renovators is undergoing something of a major renovation itself – the 3.2-hectare Rosebery site is set to become the master-planned community Rosebery Park, and its first stage, Genesis, has just been released.
<img width="470" src="/images/stories/2012/06/rosebery1.jpg">
Rosebery Park will comprise 550 apartments, and Genesis comprises 105 studios and one-, two- and three-bedroom apartments. Of these, the one-bedders and some of the two-bedroom offerings will be under the $600,000 threshold for buyers to secure the NSW government’s home builders’ bonus, if they purchase before July 1.
<img width="470" src="/images/stories/2012/06/rosebery2.jpg">
Contracts began to be exchanged on June 9, and thus far about 20 units have been sold. Caroline Fagerlund of CBRE, who is marketing the properties, told Property Observer the sales thus far have been to a mix of owner-occupiers and investors, with most of the sold units under $600,000 as buyers secure stamp duty exemption. 
<img width="470" src="/images/stories/2012/06/rosebery3.jpg">
Buyers who want to take advantage of the NSW government’s home builder bonus, which applies to new properties under $600,000 for both owner-occupiers and investors and exempts buyers from stamp duty, have until July 1 before the scheme expires. <a target="_blank" href="https://www.propertyobserver.com.au/residential/budget-s-first-home-buyer-%248000-bonus-might-actually-pause-nsw-new-home-purchasing-until-october/2012061355094">First-home buyers would probably be wise to wait until October to purchase</a> if they are willing to risk missing out on the last few apartments, but <a target="_blank" href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">upgraders and investors could miss out on a stamp duty savings of up to $22,490</a> if they don't purchase by July 1.
<img width="470" src="/images/stories/2012/06/rosebery4.jpg">
The 40-square-metre studios start from $340,000, and the one-bedroom-plus study apartments start from $565,000 and are up to 59 square metres. The two-bedroom offerings start from $570,000 and are up to 96 square metres. All of these units would be eligible for the home builders’ bonus.


<hr class="system-pagebreak">
<img width="470" src="/images/stories/2012/06/rosebery5.jpg">
Fagerlund says the most popular offerings so far have been two-bedroom offerings under this price point.
The two-bedroom courtyard apartments are a bit more expensive, starting from $640,000. The three-bedroom apartments range in size up to 116 square metres and begin at $785,000.
<img width="470" src="/images/stories/2012/06/rosebery6.jpg">
TMG is developing the project, which has been designed by architectural firm Bates Smart along with PTW. Interiors are by SJB Interiors, and the project is being marketed by CBRE.
<img width="470" src="/images/stories/2012/06/rosebery7.jpg">
“Rosebery Park will be a model estate for the rest of Sydney to admire, with tree-lined streets, good infrastructure and planned community facilities,” says CBRE director of residential projects Caroline Fagerlund. “This is a lifestyle for today, and capital growth for tomorrow.”
<img width="470" src="/images/stories/2012/06/rosebery8.jpg">
Rosebery Park is just six kilometres from Sydney CBD, and Fagerlund says the location will appeal to owner-occupiers and investors.
“Rosebery is close to many of Sydney’s best recreational attractions, such as our sporting stadiums, top golf courses, Randwick Racecourse, and our world-famous beaches, including Bondi, Bronte and Coogee,” Fargerlund says.
The median sale price for Rosebery units is $527,000, according to RP Data, and the median asking rent is $520 per week.
<img width="470" src="/images/stories/2012/06/rosebery9.jpg">
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cknowlton-QnEa6ntUYP

Renovators' site Rosebery gets new life as Rosebery Park development: June 30 investor countdown

<html><body>
9/1 Somers Street, Noble Park, VIC, 3174
<img src="/images/stories/2012/06/somersst.jpg" width="470">
Within walking distance of Noble Park train station, this one-bedroom Noble Park apartment is currently leased to a long-term tenant of 10 years, whose rent has recently been increased to $150 per week, which listing agent Chris Drieberg 0f Stockdale &amp; Leggo says is market rent for the area. 
Drieberg <a href="https://www.stockdaleleggo.com.au/details.asp?internetid=260703&amp;OFFICE_ID=&amp;order=&amp;suburb=3112&amp;surround=&amp;price1=0&amp;price2=9999999&amp;category=&amp;bedrooms=&amp;bathrooms=&amp;garages=0&amp;propertyType=&amp;OFFICE_GROUP_ID=&amp;offset=&amp;st=" target="_blank">is marketing the property</a> with price hopes of $150,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield for Noble Park units of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $2,000 and over five years to be $5,000.
The median unit price in Noble Park
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Saturday, July 7 at 11am.
For more information about prices and yields in Noble Park, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
<hr class="system-pagebreak">
292 Ocean Grove, Laurieton, NSW, 2443
<img src="/images/stories/2012/06/martinst.jpg" width="470">
The tenants of this three-bedroom Laurieton property are paying $1,300 per month in rent, and the 4,496-square-metre block is close to natural features such as the beach, river and lake. 
LJ Hooker agent Martin Newell <a target="_blank" href="https://www.ljhooker.com.au/F87GQH">is marketing the property </a>with price hopes of $300,000 plus, and if it sells for $300,000 that would secure an investor a gross rental yield of 5.2%, above the indicative gross rental yield of 4.3% for Laurieton houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median house price in Noble Park increased 1.2% in the past year, according to RP Data.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $8,000.
The property will be open for inspection Saturday, June 23 at 11am and will go to auction Thursday, July 5 at 6.30pm.
For more about prices and yields in Laurieton, see the RP Data suburb page.
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Friday form guide: Yields of up to 5.2% in Noble Park

<html><body>
Median monthly mortgage payments increased by $500 between 2006 and 2011, representing a 38% increase over this time frame, according to the 2011 census.
This is lower than the <a href="https://www.propertyobserver.com.au/landlords/renters-paying-50-more-a-week-in-rent-since-2006-with-increase-in-proportion-of-households-experiencing-rental-stress-abs-census-2011/2012062155220" target="_blank">50% increase in weekly rental payments</a> recorded between the two censuses.
The median monthly mortgage repayment in Australia was $1,800 in the 2011 census, compared with $1,300 in the 2006 census.
For 9.9% of households, their mortgage repayment was more than 30% of their income – the common definition of mortgage stress – up from 8.4% in the 2006 census.
<table cellpadding="0" cellspacing="0" border="0" style="width: 470px;"><tbody>
<tr>
<td width="319">
<a title="Measures the monthly amount spent on mortgage repayments for occupied private dwellings being purchased, including dwellings being purchased under a rent/buy scheme." target="_blank" href="https://www.censusdata.abs.gov.au/ausstats/abs@.nsf/Lookup/2901.0Chapter41802011">Mortgage monthly repayments</a>
</td>
<td width="104">
Australia
</td>
<td width="38">
%
</td>
<td width="101">
2006
</td>
<td width="38">
%
</td>
</tr>
<tr>
<td width="319">
Median mortgage repayments
</td>
<td>
1,800
</td>
<td>
--
</td>
<td>
1,300
</td>
<td>
--
</td>
</tr>
<tr>
<td colspan="5" width="602">
 
</td>
</tr>
<tr>
<td width="319">
Households with mortgage repayments less than 30% of household income
</td>
<td>
--
</td>
<td>
90.1
</td>
<td>
--
</td>
<td>
91.6
</td>
</tr>
<tr>
<td width="319">
Households with mortgage repayments greater than 30% of household income
</td>
<td>
--
</td>
<td>
9.9
</td>
<td>
--
</td>
<td>
8.4
</td>
</tr>
</tbody></table>
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lschlesinger-FZcF9M3vE6

Monthly mortgage repayments up 38% to $1,800 per month since 2006: ABS census 2011

<html><body>
Median rental payments have risen by $95 per week between 2006 and 2011, according to 2011 census data released today by the ABS.
The represents a 50% increase over the five-year period.
Median national weekly rent is now $285 per week, compared with $190 in 2006.
The 2011 census also found that the proportion of households with rent payments greater than 30% of household income – the common definition of rental stress – rose slightly from 9.3% to 10.4%. 
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="319">
<a href="https://www.censusdata.abs.gov.au/ausstats/abs@.nsf/Lookup/2901.0Chapter49902011" target="_blank" title="Records the weekly rent paid for an occupied private dwelling and includes dwellings being occupied rent free.">Rent weekly payments</a>
</td>
<td width="104">
Australia
</td>
<td width="38">
%
</td>
<td width="101">
2006
</td>
<td width="38">
%
</td>
</tr>
<tr>
<td width="319">
Median rent
</td>
<td>
285
</td>
<td>
--
</td>
<td>
190
</td>
<td>
--
</td>
</tr>
<tr>
<td width="602" colspan="5">
 
</td>
</tr>
<tr>
<td width="319">
Households with rent payments less than 30% of household income
</td>
<td>
--
</td>
<td>
89.6
</td>
<td>
--
</td>
<td>
90.7
</td>
</tr>
<tr>
<td width="319">
Households with rent payments greater than 30% of household income
</td>
<td>
--
</td>
<td>
10.4
</td>
<td>
--
</td>
<td>
9.3
</td>
</tr>
</tbody></table>
</body></html>

Renters paying 50% more a week in rent since 2006 with increase in proportion of households experiencing rental stress: ABS census 2011

<html><body>
The dominance of three-bedroom houses in Australia has waned from 2006 levels, while the proportion of houses with four or more bedrooms has risen by approximately the same amount, according to ABS 2011 census data released today.
The ABS 2011 census data shows three-bedroom dwellings account for 43.6% of Australian homes, down from 45.4% in 2006. Homes with four or more bedrooms now account for 30.3% of dwellings, up from 28.1% in 2006.
The proportion of two-bedroom, one-bedroom and studio homes, including bedsitters, remain somewhat steady at 19.1%, 4.7% and 0.1% respectively.
<img src="/images/stories/2012/06/bedrooms.gif" width="470">
The average number of bedrooms per dwelling has increased to 3.1 from 3, but the average number of people per home has not changed, sitting at 2.6.
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awalsh-7Ub9EypybQ

Four-bedroom home popularity soars: ABS 2011 census

<html><body>
The proportion of people living in detached houses has fallen by one percentage point between 2006 and 2011, with a shift towards more people living in units and townhouses, according to census data released today by the ABS. 
In total there are now 9,117,033 million private dwellings in Australia up from 8,426,559 private dwellings counted in the 2006 census. 
Of these private dwellings, 75.6% are separate houses, compared with 76.6% in the 2006 census, with proportional increases in the number of people living in a flat, unit or apartment and those living in a semi-detached, terraced house or townhouse. 
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="317">
<a href="https://www.censusdata.abs.gov.au/ausstats/abs@.nsf/Lookup/2901.0Chapter29902011" target="_blank" title="This variable classifies the structure of private dwellings enumerated in the Census. The information is determined by the Census collector.">Dwelling structure</a>
</td>
<td width="104">
Australia
</td>
<td width="38">
%
</td>
<td width="104">
2006
</td>
<td width="38">
%
</td>
</tr>
<tr>
<td width="317">
Separate house
</td>
<td>
5,864,573
</td>
<td>
75.6
</td>
<td>
5,472,527
</td>
<td>
76.6
</td>
</tr>
<tr>
<td width="317">
Semi-detached, row or terrace house, townhouse etc
</td>
<td>
765,978
</td>
<td>
9.9
</td>
<td>
658,858
</td>
<td>
9.2
</td>
</tr>
<tr>
<td width="317">
Flat, unit or apartment
</td>
<td>
1,056,236
</td>
<td>
13.6
</td>
<td>
932,862
</td>
<td>
13.1
</td>
</tr>
<tr>
<td width="317">
Other dwelling
</td>
<td>
66,666
</td>
<td>
0.9
</td>
<td>
76,080
</td>
<td>
1.1
</td>
</tr>
</tbody></table>
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Proportion of people living in apartments and townhouses rises: ABS 2011 census

<html><body>
Despite anecdotal reports of the growing numbers of single-member households, the official data showed a slight decline in 2011 ABS census. There was an increase in the percentage of  group households.
 
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="350">
<a href="https://www.censusdata.abs.gov.au/ausstats/abs@.nsf/Lookup/2901.0Chapter35002011" target="_blank" title="Describes the type of household within a dwelling and indicates whether a family is present or not and whether or not other unrelated household members are present.">Household composition</a>
</td>
<td width="110">
Australia
</td>
<td width="40">
%
</td>
<td width="110">
2006
</td>
<td width="40">
%
</td>
</tr>
<tr>
<td width="350">
Family households
</td>
<td>
5,550,611
</td>
<td>
71.5
</td>
<td>
5,122,763
</td>
<td>
71.7
</td>
</tr>
<tr>
<td width="350">
Single (or lone) person households
</td>
<td>
1,888,697
</td>
<td>
24.3
</td>
<td>
1,740,481
</td>
<td>
24.4
</td>
</tr>
<tr>
<td width="350">
Group households
</td>
<td>
321,005
</td>
<td>
4.1
</td>
<td>
280,851
</td>
<td>
3.9
</td>
</tr>
</tbody></table>
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jchancellor-FAypfDUnLy

Group, not single households on the rise: ABS 2011 census 

<html><body>
Of occupied private dwellings in Australia, 32.1% were owned outright, 34.9% were owned with a mortgage and 29.6% were rented, the latest 2011 census data reveals.
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="350">
<a href="https://www.censusdata.abs.gov.au/ausstats/abs@.nsf/Lookup/2901.0Chapter55502011" target="_blank" title="Describes if an occupied private dwelling is owned, being purchased, rented or occupied under another arrangement.">Tenure</a>
</td>
<td width="110">
Australia
</td>
<td width="40">
%
</td>
<td width="110">
2006
</td>
<td width="40">
%
</td>
</tr>
<tr>
<td width="350" colspan="5">
Occupied private dwellings
</td>
</tr>
<tr>
<td width="350">
Owned outright
</td>
<td>
2,488,149
</td>
<td>
32.1
</td>
<td>
2,430,730
</td>
<td>
34.0
</td>
</tr>
<tr>
<td width="350">
Owned with a mortgage
</td>
<td>
2,709,433
</td>
<td>
34.9
</td>
<td>
2,436,118
</td>
<td>
34.1
</td>
</tr>
<tr>
<td width="350">
Rented
</td>
<td>
2,297,458
</td>
<td>
29.6
</td>
<td>
2,010,451
</td>
<td>
28.1
</td>
</tr>
<tr>
<td width="350">
Other tenure type
</td>
<td>
70,070
</td>
<td>
0.9
</td>
<td>
60,080
</td>
<td>
0.8
</td>
</tr>
<tr>
<td width="350">
Tenure type not stated
</td>
<td>
195,213
</td>
<td>
2.5
</td>
<td>
206,717
</td>
<td>
2.9
</td>
</tr>
</tbody></table>
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Australian mortgage-free home ownership has fallen since 2006: ABS 2011 census

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Water usage figures suggest more than 90,000 homes in Melbourne are possibly unoccupied, according to research by lobbying groups Earthsharing Australia and Prosper.
Casting doubt on regularly reported vacancy rates, Deakin researcher Phillip Soos used City West Water and Yarra Valley Water figures to look for homes that consume less than 50 litres of water per day, saying these are all most likely unoccupied. The average water use by households is 350 litres per day, with a single toilet flush using up to 12 litres of water.
Soos says the homes his report found are not identified by REIV's rental vacancy rate and says the listing of these homes on the rental market would alleviate rental problems in the city.
He says 5.9% of homes he looked at were vacant and says the bulk of these are speculative homes, which rely on capital gains rather than rental incomes.
"Landlords have an incentive to withhold properties from the rental market, as they profit substantially from realising capital gains upon sale rather than from long-term rental income," Soos writes.
<a target="_blank" href="https://www.earthsharing.org.au/wp-content/uploads/Philip_Soos_Speculative_Vacancies_2012_Report.pdf">Essendon North has the highest vacancy rate</a>, followed by Docklands and Williams Landing.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/06/water.gif"><img src="/images/stories/2012/06/waterthumb.gif"></a>
"Surprisingly, many of these suburbs are in inner and mid-rim locations, while some are out on the fringes. Given the desirability of close proximity to the city, inner suburbs would be expected to have the least potential vacancies," he writes.
He says many investors are holding onto properties without leasing them out – contributing to the rental shortage faced in Melbourne.
"Investors are faced with a wide array of costs associated with maintaining tenants in rental properties to the point that increases in the capital value of property has become the primary source of profit," he writes.
"The rapid run-up in housing prices has provided a lucrative torrent of windfall gains via capital appreciation for investors while rents have not kept pace.
"Faced with this set of circumstances, investors may conclude that renting properties make for dubious investments when factoring in the wide array of costs associated, including time and effort."
Soos recommends government provide a substantial disincentive to withhold properties from the rental market by increasing land value tax.
He says this will lower land values as it cannot be passed onto tenants and it would act as a holding cost, requiring a rental income to cover it.
Soos also recommends the government investigate why long-term vacant properties are held off the rental market and publish the results of its inquiry.
"Until the government conducts an investigation into the causes of long-term vacancies, the benefits of having vacant property used for rental will go unmet, with tenants losing out."
Earthsharing spokesperson Kath Fitzgerald says the figures are "jaw-dropping" and that property speculators "create a media atmosphere that there is nowhere to live".
"Australia has one of the most generous residential property taxation regimes in the world. Capital appreciation has dwarfed rental income for years. Withholding properties from the market is a rational investor strategy."
"The National Housing Supply Council claims a 228,000 housing shortage nationwide. We say there is nearly half that locked up here in Melbourne."
Earthsharing Australia is a Melbourne-based organisation that believes poverty and social disorder stem from the misuse of land.
Prosper Australia is an NGO that aims to distribute wealth produced from land to the entire community.
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