<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?

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If anyone wants evidence that politicians haven’t the first clue about real estate, here are three items that present an open-and-shut case. 
Exhibit A: The state governments of South Australia and New South Wales, in their budgets for next financial year, are offering stamp duty concessions to people who buy new product. 
Exhibit B: The state government in NSW has been offering $7,000 to anyone who will move to the country. 
Exhibit C: The governments of the Northern Territory and Queensland have extended their schemes that offer $10,000 grants to builders of new dwellings. 
The NSW incentive for people to relocate from a city to a country area has been running for some time and has gained little traction. Fewer than 700 households have applied for the grant in the past year, despite NSW Treasury forecasts of 10 times as many. 
In similar vein, a Queensland scheme to boost new home building with a $10,000 grant has been unsuccessful. And in equally similar vein, a Northern Territory scheme to induce people to buy/build new houses or apartments in Darwin (the $10,000 BuildBonus grant) has been conspicuous by its non-success. 
Both governments have responded to these failures by extending the schemes, presumably to give them longer to not work. 
Why haven’t these measures worked? Because the government inducements amount to only a fraction of cost of doing what the governments want buyers to do. 
For this reason, the new stamp duty concessions and/or grants in SA and NSW will miss the mark as well. 
The problem is that while more Australians are buying homes and investment properties this year, they’re buying established properties rather than new ones. Eight out of 10 first-home buyers buy an established dwelling. 
The building industry has convinced itself that it’s all the fault of politicians and for years has been harassing all levels of government to do something. 
The grants and stamp duty concessions are an attempt by politicians to shut them up. They’re trying to induce consumers to build new homes rather than buy existing ones. 
Here’s why it doesn’t work. Buying a new house costs, on average, $70,000 more than buying an equivalent second-hand one. In some locations, notably our larger cities, the cost difference is well over $100,000. One research exercise last year found the cost differential in the Brisbane City Council area was $120,000. 
The stamp duty savings on offer from state governments are petty cash compared with that cost discrepancy. Anyone who does her sums won’t be excited by the prospect of a $15,000 handout (the new NSW grant for first-timers who build a new dwelling) to cover a $100,000+ cost – unless she particularly wanted a shiny new home that no one else had lived in. 
It was reported this week that, much to everyone’s surprise, few people have taken up the NSW government’s offer of a $7,000 gift for anyone who relocates from a city to a regional area. 
Clearly, no one in the state government has sat down and worked out how much it costs to relocate, which means selling the existing home and buying a new one elsewhere. Nor has Federal Minister for Regional Australia Simon Crean, who says he’s surprised the scheme hasn’t excited greater interest. 
Selling costs include stamp duty, legal fees and agents’ commission. Buying costs include stamp duty, legal fees, building and pest inspections, valuations, bank fees and charges. And then there are the logistics and expense of packing up and moving. 
A family that sells up in Sydney and moves to the bush could easily be up for $50,000 – against which the government’s handout is a pittance. 
If they were still making episodes of Yes Minister I’d put this forward as a script idea. Sir Humphrey Appleby would love the concept of urging people to spend $50,000 to earn $7,000. 
If politicians seriously want to stimulate the building industry, there’s plenty they can do. But it’s not about handouts to consumers – it’s about reducing the costs of creating new homes, a huge proportion of which is the burden of taxes, fees and charges by all three levels of governments.
 Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a> and can be <a href="https://www.twitter.com/hotspotting" target="_blank">followed on Twitter</a>.
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terryryder-YECXbqmri2

Home buyer handouts prove politicians haven’t the first clue about real estate: Terry Ryder

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The impending end of off-the-plan stamp duty concessions for NSW property investors has helped the Crown Group sell out all apartments in stage one of its V tower in Parramatta.
<img src="/images/stories/2012/06/v1.jpg">
From July 1 investors and non-first-home buyers will get a $5,000 grant from the NSW government for off-the-plan purchase under $650,000, compared with a maximum of $22,490 under the current arrangement for purchases under $600,000.
The $300 million “vertical village” was officially launched over the weekend with a display suite opening.
The project has been selling for the past few months, with construction of the 27-storey tower – set to be Parramatta’s tallest building – beginning in April.
<img src="/images/stories/2012/06/v2.jpg">
Fairfax Media reported the sell-out of stage one and a rush to buy over the weekend. The developer has now moved onto selling stage two apartments.
Property Observer was told in April that 86 apartments had already been sold in the project. No current sales tally has been provided today.
It was launched in Singapore on April 19.
The building will feature 466 luxury apartments, a resort-style hotel with pool, gym and conference facilities, as well as office and retail space and is due for completion in 2014.
The project features 50 studios (from 40 square metres) priced from $350,000; 70 one-bed-plus study apartments (from 50 square metres) from $399,000; 260 two-bedroom apartments, which include two studies, (from 80 square metres) from $500,000; and 50 three-bedroom units (from 100 square metres) from $600,000.
<img src="/images/stories/2012/06/v3.jpg">
The tower was designed by architects Allen Jack + Cottier, with interior spaces designed by Japanese/Australian architect Koichi Takada.
The design includes modern aluminium-clad curtain walling, concealed balconies and a glazed exterior that mirrors the energy of the city’s commercial district below.
Gardens located on three levels provide pockets of retreat and a rooftop garden offers views of Parramatta and its surrounds.
Crown group chief executive Iwan Sunito says the development will provide a world-class urban lifestyle in Parramatta.
V by Crown is located in the heart of Parramatta’s city centre, close to Church Street’s eateries and Westfield shopping centre, rail and ferry connections, as well as Parramatta Heritage Parklands.
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lschlesinger-FZcF9M3vE6

Stamp duty handout expiry helps sell out first stage of V development in Parramatta

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Greeks escaping the European crisis are chasing low-cost rental properties in Australian Greek communities.
Agents in Greek communities in Sydney and Melbourne say while sales patterns have not changed much since the crisis, many more young, recently arrived Greeks are seeking affordable housing.
Agent Nes Loizides from Fox First Real Estate in Oakleigh says he’s had many more Greek applicants for his shared housing arrangements.
“I do a lot of shared accommodation. I have a lot of Greeks coming into shared accommodation houses. A lot that don’t have much money are going into shared accommodation.”
“With the shared houses it’s definitely increased in the last eight to 12 months. A lot more of them are coming now.”
He says a lot of the applicants are Australian-born Greeks who have returned home after stints in Greece.
“A lot of Greeks are coming back. They were born here, went to Greece lost all their money and came back. They’re coming back and I’m giving them a place to live.”
Agent Tony Ioakimidis from LJ Hooker Earlwood says the pattern is similar in Sydney.
“We’ve had a lot of young Greeks asking for rentals. That’s what I’ve noticed.”
“I’ve been involved with property management, and I’ve had a lot of Greeks come through asking for rentals.”
The turmoil in Greece has not led to any noticeable shift in sales, however.
“Greek buyers are always on the market. Greeks like me, they buy, they don’t sell. I don’t think it made a big difference. People are concerned over there, but I haven’t noticed any changes in sales,” Ioakimidis says.
The Herald Sun recently reported an expected 65% increase in Greek migrants this financial year as Greeks seek safer shores.
A Department of Immigration spokesperson says the department acknowledges an increase in Greek migrants but says the increase does not represent a dramatic increase in the scheme of things.
But what their numbers don’t include is the number of Australian citizens moving back to Australia.
President of the Greek Orthodox Community of Melbourne Bill Papastergiadis says the number of returning Australians is around 5,000 this year.
“The people who are coming are all former citizens. Greece has the highest population of expat Australians outside of the UK,” Papastergiadis says.
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awalsh-7Ub9EypybQ

Many Greeks choosing low-cost Australian rental housing over Greek austerity measures

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Consumers are growing more confident that mortgage rates will continue to fall over the next 12 months following the May and June RBA rate cuts, but a significant proportion still expect rates to rise, according to the June Westpac-Melbourne Institute consumer survey.
The June results show for the first time since Westpac began asking the question (in February 2010) a majority of consumers (52%) expect mortgage rates to fall over the next 12 months.
This compares with the less than 40% who expected rates to fall when the question was last asked in February this year and fewer than 20% of consumers who thought so in August 2011 – before the RBA began its current rate cutting cycle.
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Of those who expect rates to fall over the course of the next year the vast majority (83%) expect mortgage rates to fall by less than one percentage point, while the remaining 17% expect a fall in excess of one percentage point.
A quarter of consumers surveyed still expect mortgage rates to rise over the next year, while slightly less (23%) expect no change in mortgage rates.
Westpac senior economist Matthew Hassan says the results indicate that consumers have a “firmer sense of where rates are likely to head” but cautions that the “consensus is not particularly strong”.
“At 52%, the proportion expecting rates to fall is well short of the 70 to 90% that were calling rates to rise in surveys conducted in 2010-11.”
Hassan also points out that the responses from consumers to the question of where mortgage rates are heading fluctuated over the week they were asked indicating a “lack of conviction”.
“Responses over the course of the survey week (June 4 to June 10) – which was a very busy one for interest rate developments, economic surprises and the unfolding crisis in Europe – show significant daily fluctuations and a less certain view amongst those surveyed later in the week.
“The high and rising proportion saying they simply don’t know also suggests a more uncertain outlook for rates,” he says.
Hassan says the bottom line is that “predicting mortgage interest rates has become very hard” due to mixed signals in the “official guidance”. 
As an example he says the RBA has cut rates (usually a sign the economy is worsening) but affirmed “Australia’s positive prospects”. 
“Add to this the surprisingly upbeat first quarter economic data on the domestic front, the deeply threatening and uncertain situation in Europe, and the less predictable linkage between official cash rate changes and mortgage interest rates and it’s not surprising consumers are unsure about future moves,” he says. 
Hassan also points out that interest rate market pricing and economist surveys are equally unhelpful. 
“The former is being skewed by investors seeking ways to profit from downside risks to the global growth scenario – and implies 100bps of easing by year end. 
“Economist forecasts range from up 25bps to another 100bps in cuts to the cash rate with a median view of a 25 bps reduction (Westpac’s forecast is for 75 bps,” he says. 
“And in both cases the forecasts are for the official cash rate rather than the average standard variable mortgage rate,” he says. 
State-by-state responses to the question indicate that consumers from South Australia (59%) and NSW (56%) are the most optimistic about rates falling while those in Queensland (49%) are the least optimistic.
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Men are more optimistic than women about rates falling, as are those that own their home outright or have a mortgage compared with renters.
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Consumer sentiment swings towards greater rate cut anticipation: Westpac 

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<img src="/images/stories/2012/06/church.jpg" width="470">
The former 1860-built Bible Christian Church in Gore Street, Fitzroy (pictured above), sold at its weekend auction for $3.41 million.
The bluestone building was once used as a furniture factory after its ceased operating as a tabernacle. It comes with tall brick-embellished Georgian windows and a 1911-added Greek Revival-style façade.
The building was converted 10 years ago into a three-bedroom, two-bathroom house with a six-car garage.
It features an ornately carved and suitably religious front door and an original banner in the lounge-room proclaiming “Holiness becomes thy house”.
The Bible Christian Church was a Methodist denomination founded by William O’Bryan, a Wesleyan Methodist local preacher in 1815 in North Cornwall. Its mission in Australia was established in 1850.
 Storage of the wine should be no issue with the house’s large wine cellar and basement workshop.
The marble kitchen has a butler's pantry, and two sets of French doors open to an east-facing paved terrace. The two bedrooms are on the same level, separated by a bathroom. Upstairs is storage space with the possibility to convert into another bedroom.
Sarah Case from RT Edgar had the listing in conjunction with Nelson Alexander agent Arch Staver, who were looking for buyer interest around $3 million, which was its reserve. There were three bidders.
It was among the 57% clearance rate in Melbourne, which was up on the 53% clearance rate of the prior weekend and the same weekend last year, according to the Real Estate Institute of Victoria.
Sydney’s agents secured a 57.2% weekend clearance rate, according to Australian Property Monitors.
<img src="/images/stories/2012/06/stalbanschurch.jpg" width="470">
If you missed out on that church you needn’t worry – Property Observer has found some other church offerings in Sydney and Melbourne.
The property at 1231 St Albans Road in St Albans is a 1918-built Anglican church (pictured above). St Jude's is now a one-bedroom loft conversion. The dainty home has the original stained glass windows, pew hymn board and high cathedral ceilings. Ian Clarke from Belle Property Pymble is looking for $438,000 for the house. Lovely.
<img src="/images/stories/2012/06/somervillechurch.jpg" width="470">
The property at 9 Grant Road, Somerville (pictured above), was a church from 1855-1988. St John’s was a Presbyterian church and is being sold with a full history including photos from its long tradition. It’s now a four-bedroom open plan home, with three single-room bungalows. Chrissy Kouvaras from Harcourts Frankston is selling the house and is looking for offers in excess of $400,000.
<img src="/images/stories/2012/06/boroniachurch.jpg" width="470">
An old Templar church is up for sale at 3 Wadi Street, Boronia (pictured above). The property has been converted into a three-bedroom home complete with the original bell tower and a not-so-original bowling alley. The former congregation area now serves as an open-plan office and living room. Oliver Hammacher from hockingstuart Boronia is looking for $680,000 to $740,000 for the house.
 
<hr class="system-pagebreak">
 
Or if you’ve got the energy to do a conversion yourself, there are these unconverted churches up for grabs.
<img src="/images/stories/2012/06/malvernchurch.jpg">
The property at 12-14 Spring Road Malvern is an 1880-built Wesleyan Methodist Church. The heritage-listed building sits on 798 square metres of land and comes with the classic pitched slate roof, leadlight windows and polychromatic bricks. It’s being sold by a developer who built apartments to the south and east. Jock Langley from Abercromby's Real Estate is looking to sell for $2.5 million plus, with expressions of interest ending August 7.
<img src="/images/stories/2012/06/gladstonechurch.jpg">
Or for something bigger, 23a Gladstone Street Moonee Ponds is a 1,050-square-metre church (pictured above) currently run by an Australian Christian Churches group. Luciano Deodato from Brad Teal Real Estate Essendon says the 100-year-old former Catholic Church is currently under offer. The agents had been chasing $1.9 to $2.2 million.
<img src="/images/stories/2012/06/comboynechurch.jpg">
And for something further out, 1-3 Thone Street, Comboyne (pictured above) is a 1917-built Roman Catholic church. The 2,251-square-metre church has been the gathering place for the Comboyne Parishioners since the early 1900s. Kevin Debreceny from Kevin Debreceny Port Macquarie is selling the still-operational church at auction on July 21 for $250,000 to $265,000.
<img src="/images/stories/2012/06/daylesfordchurch.jpg">
And Daylesford, a town full of churches, has an offering for the enthusiastic renovator. The property at 19a Camp Street (pictured above) is a 1903-built Presbyterian Church called St Andrews. The 2,347-square-metre property comes with many original features including stained glass windows, a spire, ceiling roses, cathedral ceilings, floorboards and even a rare Austrian church organ, one of only two in the world. In fact the organ is the only heritage-listed part of the building. Purchasers will be banned from selling the organ but do have the option of gifting it to another church. Agent Aaron Gay is looking for offers above $950,000.
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Former Bible Christian Church fetches celestial $3.41 million at Fitzroy auction

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Westpac’s discount bank brand, Bank of Melbourne, has cut its benchmark three-year fixed rate by 20 basis points to 5.79%, one of the lowest rates on offer in the market. 
This matches Greater Building Society’s 5.79% three-year fixed rate. 
The bank of Melbourne has also reduced rates on its one- and two-year fixed-rate products by 15 basis points. 
Bank of Melbourne’s new fixed home loan rates under the Advantage Package are: 
<ul>
<li>1 year – 5.74% p.a. </li>
<li>2 years – 5.74% p.a. </li>
<li>3 years – 5.79% p.a. </li>
</ul>
In addition to the fixed-rate cuts, the bank has also lifted its life-of-loan discounts on packaged variable home loans. 
From tomorrow the bank is also offering life of loan discounts of up to 0.9% p.a. off new standard variable rate home loans through its Advantage package. 
“More customers are talking to us about fixing all, or part, of their home loan to help manage their finances and gain greater certainty in these uncertain times,” says Bank of Melbourne chief executive Scott Tanner.
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Bank of Melbourne cuts fixed rates and improves incentives for borrowers

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NSW Treasurer Mike Baird has defended the government’s timetable of changes to handouts available to first-home buyers, non-first-home buyers and investors announced in the state budget.
The changes initially grabbed favourable headlines due the size of first-home owner grants –up to $35,240 for those purchasing a new home – but the <a href="https://www.propertyobserver.com.au/residential/nsw-budgets-needlessly-complex-artificial-deadlines-have-short-term-and-long-term-consequences-for-residential-property/2012061455119" target="_blank">artificial deadlines</a> has since been heavily criticised for killing off the investor market and encouraging first-home buyers to wait until after October 1.
The program of changes, announced on June 12, gave investors (and non-first home buyers) just 18 days to complete off-the-plan purchases to take advantage of a a zero stamp duty option – and the potential saving of $22,490 through the NSW home builders' bonus, which ends on June 30.
For first-home buyers, the state government decided to scrap the $7,000 first-home owners’ grant entirely for established home purchases and replace it with a $15,000 grant for new homes – but only from October 1.
This means that many first-home buyers are likely to put off their new home purchases until after October 1, when there will be up to an additional $8,000 up for grabs.
The executive director of the Housing Industry Association, David Bare, expects the three-month lag would be felt in the construction market and could have a significant impact on the cash flow for builders.
Meriton boss Harry Triguboff says this three-month time frame will be “hopeless” for developers targeting the first home-buyers’ market.
But a spokesperson for NSW Treasurer Mike Baird told Property Observer the three-month notice period for first-home buyers “provides a reasonable timeframe for the market to adjust to the changes and is in line with the timeframe applied to stamp duty concession changes in last year’s budget”.
In the 2011-2012 NSW budget, delivered on September 6 last year, Baird gave first-home buyers just under four months’ notice that stamp duty concessions under the first home plus scheme would be limited to the purchase of newly constructed homes (including off-the-plan purchases) from January 1 this year under a new scheme, the first home – new home scheme.
The expired first home plus scheme meant borrowers did not have to pay any stamp duty for homes under $500,000 – a saving of up to $17,990.
The spokesperson for the Treasurer also said the home builders’ bonus had been due to expire on June 30.
“However from the July 1, the NSW government will introduce the new home grant of $5,000 which will go to all non-first-home buyers of new properties up to $600,000.”
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NSW Treasurer Mike Baird defends timing of changes to home buyer handouts

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Hobart’s Museum of Old and New Art has won the people’s choice award at the Australian Institute of Architects’ 2012 Tasmanian Architecture Awards.
Designed by Fender Katsalidis, MONA also won the Alan C Walker Award for Public Architecture.
The museum is carved into a peninsula of Hobart’s Moorilla wine estate and features interconnecting chambers that eschews a programmed circulation strategy for individual journeys of discovery.
“MONA is a place of mystery, exploration and wonder – unconventional, unpredictable, where the visitor can feel comfortably lost amongst extraordinary art,” the jury noted.
The museum was started by eccentric millionaire and professional gambler David Walsh in 2011. It’s the largest privately funded museum in Australia. The gallery represents the whims of Walsh, who says the museum acts as a subversive Disneyland.
Visitors arrive to the sex- and death-themed museum via a ferry service, which docks near the grand entrance. Entry leads down into the subterranean chambers, where the journey begins.
Nonda Katsalidis and Walsh became friends after Walsh moved into the penthouse designed by Katsalidis in Melbourne.
“He is the greatest architect in the world for my purposes, in terms of what I wanted to do,” Walsh told Australian Design Review.
“He doesn’t build the same building over and over again.”
In total, 23 prizes and commendations were awarded at the ceremony.
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Hobart’s Museum of Old and New Art wins people’s choice award for Tasmanian architecture

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We do not purport ourselves to be economists, but Craig James of CommSec is – and a good one at that – and a few weeks ago he put out an alert to the effect that Aussie government bond yields are at 64-year lows.
Good thing? Bad thing?
It’s a good thing – a giant tick for our economy – and it means that Australian government debt is in demand, along with securities in the US and Germany, as investors seek “safe-haven” assets.
The lower yields will reduce borrowing costs for our government and therefore assist in reducing the budget deficit and public debt; and they will also serve to keep borrowing costs down for companies and home buyers.  Aussie borrowers will benefit but will need to examine their options to disperse debt between variable and fixed rates.
The jitters surrounding Europe may be taking their toll on equities markets, but under this scenario, Aussie borrowers are emerging as winners with a chance to focus on opportunities rather than risks.
Residential real estate benchmarking
My thanks to John Rigby, director of sellAbusiness for sending through an excellent summary from Macquarie’s 2012 Benchmarking Report.
Here are his top 10 points from the report:
<ul>
<li>Rent rolls now account for 42% of total revenue, against 36% in 2009</li>
<li>The average rent roll size has increased from 375 properties in 2009 to 436 properties in 2012</li>
<li>22% of all offices did not make a profit in the financial year.  58% made above 10%, with just 10% of offices making more than 30%</li>
<li>In the last 12 months, the average office completed 106 sales on an average commission of 2.6%</li>
<li>The average days on the market are:  SA 100; WA 95; Qld 79; NSW 65; Vic 58</li>
<li>% of properties listed via auction:  Vic 32%; NSW 26%; Qld 11%</li>
<li>Rent roll portfolio sizes:  NSW metro 486, regional 267; Vic metro 661, regional 363; Qld Metro 423, Regional 383</li>
<li>The national average property management commission rate moved up substantially to 7.6%</li>
<li>Perceived value of rent rolls as a multiple of management commission:  National 2.9x, NSW 3.1x, Vic 2.9x, Qld 2.6x, WA 2.7x, SA 2.5x</li>
<li>% of advertising costs paid by vendors: National 72%; NSW 63%; Vic 85%; Qld 73%: WA 64%; SA 94% (but SA had the worst percentage for getting VPA upfront)</li>
</ul>
And if you <a target="_blank" href="#!/MichaelMatusik">followed us on Twitter</a> then you would know all this already.
How to sell your message
Steve Jobs was a great salesman.  The co-founder of Apple was able to “sell” the benefits of Apple products in his presentations like no other.  Courtesy of The Week, here are a few lessons from Jobs on how to create a great presentation:
Establish one critical point and make it clear.  (We humans can only absorb so much in one session).  Any differentiation from the main point is merely a distraction.
Make a fast connection – an “emotional” impact that builds “empathy” so the audience is more receptive to the message.
Know why the audience is keen to listen.  Adjust the style to suit the room.
Keep the audience focused on the speaker, not the presentation.  Use a blank slide to force all eyes on you.
Know your story.
Now that doesn’t seem hard, does it?
Matusik Pulse poll
Last week’s Matusik Pulse poll asked where you would buy a $380,000 investment property in Brisbane that showed a $400 per week rental return.
A third of our would-be investors chose a  two-bedroom apartment at Chermside (10 kilometres from Brisbane CBD) with a car; and a close 30% would pick a one-bedroom apartment at Albion (five kilometres from the CBD) with a car.
Some 16% would choose a four-bedroom house on 500 square metres of land at North Lakes, with two cars (25 kilometres from the CBD), while 14% would buy a three-bedroom townhouse at Carseldine, with a car (15 kilometres from the CBD).
Only 7% would consider a CBD one-bedder with no car.
<a target="_blank" href="https://www.surveymonkey.com/s/InfluenceMarket">This week’s poll question</a> asks what you think will influence the market the most over the next 12 months.  We’d love to know your thoughts.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Aussie borrowers are emerging as winners, focusing on opportunity rather than risk: Michael Matusik

<html><body>Australian Property Monitors (APM) has released a list of results from 285 auctions in Sydney for the weekend of June 16. The clearance rate was 57.2%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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