<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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The Victorian Parliament amended the Sale of Land Act in the first week of June to give effect to a recommendation of the Royal Commission into the Black Saturday bushfires that vendors be required to advise if the land they are selling is in a bushfire-prone area. 
The date from which this advice will be required is yet to be decided. 
When it is required, the advice will appear in the vendor’s section 32 statement. 
This information is currently publically available, and owners can conduct a search to ascertain the bushfire status of their land. The Victorian government has made this service available through the Department of Planning and Community Development. 
By visiting the <a target="_blank" href="https://services.land.vic.gov.au/landchannel/content/addressSearch">government’s website</a>, you can confirm your land’s bushfire status by entering the address of your property and selecting a free bushfire-prone area property report. The report will advise if the land is in a designated bushfire-prone area. The areas judged bushfire prone were determined by the Minister for Planning. 
If the area is bushfire-prone, the report will advise as such and detail the special construction requirements that apply. 
While the requirement may add to the conveyancing costs of a sale, as your solicitor or conveyancer will need to locate the report and include it in the vendor’s section 32 statement, it does ensure buyers are informed and are prepared should they purchase a property in a bushfire-prone area.
Enzo Raimondo is CEO of the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
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enzoraimond-7fvRFHPR52

Victorian vendors to disclose threat of bushfire to residential land

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With the end of financial year fast approaching, we thought we would provide some general tax strategies for property investors to consider:
1. Documentation: Keep summaries of all your rental income and expenses.
This is much easier if you have your management agent looking after your property where they pay all expenses and collect all income. They will normally provide a monthly and annual statement.
Ensure you have all bank statements showing interest expense. The annual statement should show a summary of interest expense.
A specialist property accountant can assist by ensuring all allowable tax deductions are made. 
2. Depreciation: Only registered quantity surveyors are generally authorised to prepare depreciation schedules.
If you are contemplating a renovation a quantity surveyor can produce a scrapping schedule, which puts a value against all items to be thrown away. This value is expensed in the year of expenditure. The new items are then depreciated with a new depreciation schedule.
3. Travel: All your costs to inspect your investment property are tax deductible, including travel. Ensure you apportion any personal component.
4. Interest expenses: Only interest expenses on borrowed funds used to invest are deductible. It is the purpose of the loan that determines deductibility, not the security used to obtain the loan.
A split loan should be considered when a loan is used for both investment and private purposes.
If capitalising interest the Tax Office may require evidence of correct documentation and intention.
Interest deductibility should be easy but if not properly documented and managed this expense can cause frustration if the ATO decides to review and so the assistance of a specialty property accountant should be used.
5. Trusts: The use of a trust can be a major benefit to property investors by improving asset protection, estate planning and increasing flexibility. If using a trust ensure it has been correctly set up and operated to ensure you do not lose your interest deductibility, which is fully allowable by the ATO if you meet the requirements.
6. Pre-pay expenses: If you have a geared investment it is worth considering pre-paying next year's interest to gain an immediate tax deduction, especially if you're paying the flood levy this year. You can also get a deduction now by pre-paying next year's income protection insurance premiums. Also, consider bringing forward expenditure that would otherwise be spent after June 30. If you are planning on doing repairs on your property, note: Care should be taken in determining whether a maintenance or repair is deductible or if it is considered a renovation or of a capital nature.  Consider pre-paying other expenses such as rates, levies or possibly even interest (in the right circumstances).
7. Manage capital gains: Capital gains generated during the year can be minimised by offsetting it against capital losses or trading losses incurred during the same year. To reduce capital gain generated on sale of property or other assets during the year consider selling any assets which have lost value and their future is bleak. The 50% discount on capital gains is available where an asset is held for longer than 12 months. As this is a considerable saving consider the timing of any sale. The relevant date for calculating capital gains is the contract date, not the settlement date.
8. Manage capital losses: Capital losses incurred in any year are available to be carried forward to future years if there are insufficient gains to absorb it in the same year. It can be carried forward for an indefinite period. Capital losses cannot be offset against other income such as business trading income if you've made a capital gain this year, review your portfolio to see whether it is worth realising a capital loss to offset the gain. You can't carry losses back. So if you've made a capital gain, you may want to trigger a loss to offset it against.
9. PAYG variation: Where you have negatively geared rental investments, the negative part offsets against your other income, e.g. salary, reducing your tax payable and resulting in a large refund when your tax return is lodged. This refund can be used to reduce your loan, pay your interest expense or help finance another investment property. To help with cashflow, would it not be great if you were able to access this refund throughout the year instead of waiting till the end of the year? This can help finance that extra property, which has potential to pick up some capital growth between the beginning and end of year. This can be done by lodging an application to vary the income tax withholding using a form from ATO. This can be done electronically on line or you can download the form, prepare and lodge it manually. PAYG instalment obligations should be reviewed and consideration given to varying the instalment for the June 2012 quarter, where the estimate of income tax payable for the year is less than the instalments raised by the ATO. This will reduce the impact of this instalment on your cashflow.
Ken Raiss is a certified accountant and director of <a href="https://www.chan-naylor.com.au/" target="_self" title="Chan &amp; Naylor ">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance.
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kenraiss-JsVyb3YKka

Nine tax tips for property investors

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Charter Hall and TA Global’s Solis development in Little Bay Cove is 95% sold, with just three one-bedroom apartments still available.
<img src="/images/stories/2012/06/solis1.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.
NG Farah agents Dennis Vertzayias and Peter Goulding are marketing the project.
<img src="/images/stories/2012/06/solis2.jpg">
There are three apartments under this threshold remaining in Solis, all one-bedders. Prices start from $499,000.


<hr class="system-pagebreak">
<img src="/images/stories/2012/06/solis4.jpg">
All 10 of the two-bedroom apartments, which start from $600,000, have sold, and 32 of the 35 one-bedroom apartments have also been snapped up.
<img src="/images/stories/2012/06/solis5.jpg">
Goulding says about 70% of the apartments sold to owner-occupiers, with the rest sold to investors.
 
<img src="/images/stories/2012/06/solis6.jpg">
The Sydney suburb of Little Bay Cove is next-door to the 85-hectare Prince Henry Hospital site. Listed property trust Charter Hall is developing the 13.6-hectare parcel of land in partnership with Malaysian developer TA Global. More than half will be open space, but the project was delayed because Randwick Council initially voted against the proposal.
<img src="/images/stories/2012/06/solis7.jpg">
“While Randwick Council is now supportive of the project, most councils don’t want to be seen to be supportive because it’s an increase in density,” Charter Hall joint managing director David Southon told the Australian Financial Review. “Now they can say to their constituents, ‘Don’t blame us. we didn’t approve it’.”
<img src="/images/stories/2012/06/solis8.jpg">
Construction on Solis is set to start next month and is expected to take about 18 months.
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cknowlton-QnEa6ntUYP

Three units, all under $600,000, remain in Little Bay Cove development Solis: June 30 investor countdown

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3/49 Rawson Street, Aberdare, NSW, 2325
<img src="/images/stories/2012/06/rawson1.jpg" width="470">
Close to schools, parks, shopping centres and Cessnock CBD, this vacant two-bedroom apartment is in a block of four, and the three others are currently rented at $275 per week, says listing agent Bryce Gibson of LJ Hooker. 
Gibson <a href="https://www.ljhooker.com.au/DK8F5N" target="_blank">is marketing the property</a> with price hopes of $200,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 7.2% if it were rented out at $275 per week. This is significantly above the indicative gross rental yield for Aberdare units of 5.5%, 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 $6,000 and over five years to be $22,000.
The property will be open for inspection Saturday, June 16 at 9am and will go to auction Saturday, June 30 at 10am.
For more information about prices and yields in Aberdare, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
<hr class="system-pagebreak">
47 Sunderland Avenue, Ashburton, VIC, 3147
<img src="/images/stories/2012/06/sunderland.jpg" width="470">
The tenants of this two-bedroom Ashburton house are paying $1,560 per month and are on a month-to-month lease. Tim Dwyer agent Natalie Hall says this is about at market rent for the area, considering the house is "fairly original", and the tenants are keen to stay on. The house is on a 635-square-metre block of land and includes a bungalow or third bedroom. It is close to a newly completed adventure playground. 
Hall <a target="_blank" href="https://www.timdwyer.com.au/">is marketing the property </a>with price hopes of $650,000 plus, and if it sells for $650,000 that would secure an investor a gross rental yield of 2.9%, about at the indicative gross rental yield of 2.9% for Ashburton 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 Ashburton fell 11.2% 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 $6,000.
The property will be open for inspection Saturday, June 16 at 10.30am and will go to auction Saturday, July 30 at 12.30pm.
For more about prices and yields in Ashburton, see the RP Data suburb page.
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Friday form guide: Yields of up to 7.2% in Cessnock

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The Basement club at Circular Quay is on the market after its owners have decided to conclude their 13-year tenure.
<img src="/images/stories/2012/06/basement1.jpg">
There are 10 years left on the lease, according to the Spencer-Carr Property listing agents.
Since opening in 1973 the premises have had the likes of Neil Diamond through to Prince grace its stage.
It’s being marketed as suitable for alternate licensed food and beverage concepts.
<img src="/images/stories/2012/06/basement2.jpg">
“It will obviously appeal to quality music industry professionals, but can also be evolved into a variety of successful licensed food and beverage concepts,” Adam Spencer-Carr suggests.
The venue holds a 24-hour hotel licence and a 550-person capacity located at Circular Quay over two levels.
Licensees Tim Read and Jane Burridge are selling to pursue other priorities.
In a statement published by Fairfax Media, they said they had spruced the place up, but resisted pressure to install poker machines.
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jchancellor-FAypfDUnLy

Basement club at Circular Quay looking for another owner

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It's taken a few days for the immediate impact of the NSW budget housing initiatives to sink in.
The initial headlines exulted Treasurer Mike Baird’s decisions.
But there are emerging short-term humps – through the creation of needlessly complex artificial deadlines – for the NSW housing and property industries to overcome.
And then some serious long-term consequences that could potentially effect residential property across Australia.
After all, NSW has broken from the 12-year-long pact that has given established home sellers the potential benefit of buyers with the first home buyers’ grant.
Now established home sellers in NSW will not get any benefit from the grant that derives from Howard government GST introduction negotiations with the states in 2000.
The short-term issues are timetabling issues for buyers and property developers.
It was pointed out by Property Observer shortly after Tuesday's midday budget that <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">NSW investors faced an immediate conundrum.</a>
It’s actually a NSW government-induced “money or the box” scenario.
And the government really should know better than create a situation where property investment is an even bigger lottery than normal.
For the next 16 days investors have a zero stamp duty option – and the potential saving of $22,490 through the NSW home builders' bonus.
It’s available if investor buyers put a deposit down for an off-the-plan purchase or new house costing less than $600,000.
But from July 1, 2012, the best deal for government grants will be a fixed $5,000 offering in a new scheme for investors of new homes, whether off the plan or newly built.
It then became apparent from the budget papers minutiae that first-home buyers face a timetabling scenario too – as they might best hold off their buying to await the full bonus until October.
<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">Property Observer advised its readers on the day after the budge</a><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">t</a> that despite the NSW government’s best intentions, sales of new houses and apartments to first-time buyers could possibly ease off temporarily until October 1.
Savvy first-home buyers might delay their new home acquisitions to secure an $8,000 bonus based on a $550,000 new dwelling.
The entitlement of first-home buyers who sign a purchase contract for a new home between yesterday's state budget and September 30 is $20,240 + $7,000 totalling $27,240.
But wait until October 1 and it’s $20,240 + $15,000, or a maximum total of $35,240.
Those immediate glowing headlines didn't quite contain the requisite consequential details required by the welcoming property development industry hardheads.
In some sense the drilling down into the details doesn't reveal anything too serious in the short term for the property development industry, which it has to be said retains its repeated podium placing when it comes to awards for getting government handouts.
But both deadline issues are the by-product of governments that nowadays regularly delay the introduction of special initiatives, presumably so that they get two lots of favourable headlines – on announcement and then on implementation.
Government by press release.
Recall the Queensland Treasurer Andrew Fraser unveiled his $10,000 new home building boost grant in his June 2011 budget. And the home building industry immediately went dead because its introduction date wasn’t until August 1.
Accordingly, Queensland led a national fall in dwelling approvals in June, with an 18.6% fall compared with May highlighting the naïve, and often cruel, hand of government intervention.
Veteran NSW unit builder Harry Triguboff has cottoned on that changes announced by the NSW government to home buyer incentives are set to create short-term distortions especially between July 1 and October 1.
“Nothing will happen,” he told the Australian Financial Review.
“The government will have killed the investors and still not given birth to the first-home buyers.”
But between now and July 1 when it comes to investors Triguboff says: “we have to go hell-for-leather to sell before July 1 to investors, because they’ll still get something.”
Three months then elapses before the October 1 start of the full $32,450 generosity of the new first-home owners’ grant and stamp duty concessions.
“For the [interim] months, it’s going to be hopeless,” Triguboff says.
“I cannot enter into an agreement and say we’ll exchange it after October; it’s illegal. I would defeat the purpose of what the government is doing.”
The new package excludes the buyers of existing homes altogether. And industry chief are optimistically suggesting little impact on the first-home buyer market when it comes to established unit and house sales.
Real Estate Institute of NSW Tim McKibbin didn’t like the decision but says he did not expect any significant changes to the second-hand market. And Raine &amp; Horne chief Angus Raine also says the second-hand market would experience little impact.
But that's not what's emerged from January 1, 2012 after the NSW government's initial decision to shift first-home buyer interest towards new homes and away from established homes. It was in last year's NSW budget.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2012/06/cbrejune143.gif" title="Click to enlarge"><img src="/images/stories/2012/06/cbrejune143thumb.gif"></a>
The latest numbers show a dramatic downturn in first home buying as indicated in the latest report on NSW housing by CBRE. Following the initial removal of concessions for existing homes from January 1, 2012, the data indicates first home buyers constituted 15.1% of the market in early 2012, down from the over-representative 26.3% in December 2011, when there was a rush by first-home buyers to get the then bigger government handout.
First-home buyer activity is now sitting at 2005 levels, CBRE notes, in the wake of the first stage of the phasing out of the concessions for existing home purchases. It will be interesting to see the renewed consequences of the further narrowing of buying options which ofcourse comes accompanied by a generous increase in government handout for first time buyers of new homes. But will it get to new house buyers or just new unit buyers?
B<a href=""></a>oosting housing on the city fringe takes time and will require a quantum shift in Gen Y buying location preferences. So surely most of the short-term buyers will use their grant on new apartments in the inner and middle ring suburbs, an industry which is not doing too badly at the moment.
"This budget is meant for cottages, and nobody wants cottages,” Triguboff says.
“They all want apartments.”
Escalation in the off the plan prices of trendy new inner city studios will be worth watching during 2012.
An interesting tip from Ted Hoskin, the CBRE NSW residential mortgage valuations senior director, is that down the track the main buying activity, and therefore beneficiaries, arising from the state budget decisions will be seen in the new home sector in the north and south-west growth centres.
The golden era of government grants assisting the established housing market is ending.
Not so much because governments ever viewed it as the disparagingly dubbed "first home sellers' grant" but rather because the emphasis is understandably fixed on poor construction numbers and housing shortages. So standby for the other state governments proposing their initiatives to also seek to turn around housing supply shortages.
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NSW budget’s needlessly complex artificial deadlines and decisions have short-term and long-term consequences for residential property

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The sale of Australian CBD hotels to offshore interests continues, with a Malaysian investment trust paying $415 million for a portfolio of three five-star Marriott hotels.
The Sydney Harbour Marriott, the Brisbane Marriott and the Melbourne Marriott have been bought by Malaysia-listed Starhill Real Estate Investment Trust, managed by Malaysian conglomerate YTL Corp.
Asian buyers have accounted for 93% of all hotel sales this year.
The Marriott properties formed part of Colonial First State’s (CFS) Commonwealth Property Hotel Fund, which is being wound-up.
The sale was negotiated by Mark Durran and Craig Collins of Jones Lang LaSalle Hotels, who says the federal government’s changes to withholding tax on management investment trusts “caused some friction” but did not prevent the deal from going ahead.
The three hotels were acquired by CFS between June 2000 and April 2001.
The jewel in the crown is the 550-room Sydney Harbour Marriott at the northern end of Pitt Street, which was constructed in 1989 and underwent a $35.5 million refurbishment during the 2002-2003 financial year.
The Brisbane Marriott is a 267-room hotel constructed in 1998, and the Melbourne Marriott is a 185-room hotel constructed in 1982. It underwent an $8 million refurbishment in 2002.
Prior to the acquisitions Starhill had a market capitalisation of around RM1,025 million ($324 million as of June 2010) comprising  the JW Marriott Hotel Kuala Lumpur and 60 units of serviced apartments, four levels of commercial podium and two levels of car parks located within The Residences at The Ritz-Carlton, Kuala Lumpur.
The Australian acquisitions will bring its portfolio to around $1 billion.
The five-star hotel sale attracted significant interest from offshore investors and takes total hotel sales to $614 million for the first six months of the year, with  Jones Lang LaSalle estimating that this could double by the end of the year.
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Malaysian REIT pays $415 million for Marriott five-star hotel portfolio

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McGrath Mid North Shore agent Peter Chauncy has ranked as Australia’s top estate agent, according to a new Top 100 survey by industry magazine Real Estate Business.
Chauncy, who sells property in Chatswood, Crows Nest, Lane Cove and Naremburn, racked up 79 property sales over the 2011 calendar year worth $88 million.
The rankings were compiled based on a range of criteria including sales volumes, sales numbers and average sale prices.
Chauncy admits to being a workaholic who works 75 hours each week, but says he loves it.
“I really am passionate, and that enthusiasm and passion really rubs off on people, and I think that’s been a key part to our success,” he says.
Chauncey will become principal at the new McGrath Crows Nest office when it opens in August this year.
His most recent sale was a 1,094-square-metre site on Talus Street in Naremburn, which he sold alongside David Howe for $2.655 million. The site has approval for an eight-apartment complex.
Another McGrath agent, Wayne Vaughan from the Epping office, ranked fifth on the list, with sales of $73 million. Four McGrath agents made it into the top 10, and 10 were among the top 100.
Ray White dominated the list, with 17 out of the top 100 spots.
Edward Hobbs from Biggin &amp; Scott Richmond ranked second ($81 million in sales) followed by Ric Serrao from Raine &amp; Horne Double Bay ($74 million) and Glen Coutinho from hockingstuart Hawthorn ($85 million)
In dollar terms, Jason Boon from Richardson &amp; Wrench Elizabeth Bay/Potts Point ranked first, with $130 million worth of sales from just 55 transactions.
Jay Standley from Barr and Standley Real Estate Bunbury, WA, managed the highest number of sales at 189 (or more than one sale every two days) to rank 53rd overall.
The top female agent was Karen Vogl from hockingstuart Ringwood in Melbourne’s eastern suburbs, who clocked up $80 million in sales and ranked 11th overall.
Nearly half (47) of the top 100 were NSW agents. There were 17 each from Victoria and Queensland and 14 frm WA.
The top 100 was based on agency submissions and received over 400 submissions, according to Alex Whitlock, publisher of Real Estate Business.
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McGrath Mid North Shore agent Peter Chauncy named Australia’s top estate agent by Real Estate Business

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Retail centres should be changing their tenant mix to improve performance over the next 12 months, according to the latest report by Jones Lang LaSalle.
Jones Lang LaSalle's Retail Centre Managers’ Survey found the key factor expected to improve performance of individual retail centres over the next 12 months is a new tenant mix.
“Those retail centres that have deliberately changed their tenancy mix or attracted new tenants with strong customer appeal have reported solid growth during a challenging trading period,” says Richard Fennell of Jones Lang LaSalle.
“With clothing and footwear continuing to struggle, sub-regional shopping centres are re-focusing their tenancy mix to better reflect the needs of their catchment and growth sectors.  This includes specialty food, dine-in cafes/restaurants, and a range of services that bring repeat customers to the centre.”
He says the ability to improve tenancy mix is constrained by limited demand and the need for injection of capital before tenants commit and recommends alternative lease terms and tenant incentives.
“Alternative lease terms are being considered in order to accommodate new or struggling retailers.  This may include shorter lease terms and percentage rent deals. Centre managers have also reported some rent reversion at the end of the lease period in order to retain tenants,” he says.
“There is also a higher expectation on the part of tenants for incentives.  These include both rent-free periods and fit-out contributions, with tenants having limited capital to cover the cost of fit-outs.”
Vacancy rates increased slightly from 4.2% in December 2011 to 5.1% in March 2012 for neighbourhood centres and from 1.1% to 1.4% in March 2012 for sub-regional centres.
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Tenant enquiry improved slightly, but from a very low base. Enquiry remains weak, with food retailers and the discount variety sector (in sub-regional centres) showing the main interest.
The report found the average rental growth for neighbourhood centres was 2.8% for the year ending March 2012. Sub-regional centre growth has been weaker, averaging just 1.3% over the 12-month period.
Sentiment in retail centres across Australia had improved slightly following the Reserve Bank’s cash rate cut in May. The report was published before June’s further rate cut.
According to the report, 57% of centre managers expected some growth in sales over the next 12 months, up from 49% in February, though their sentiment is described as “caution optimism”. Those in the 57% primarily expect growth of less than 3%. Those expecting sales to decline fell from 31% to 21%.
Research director David Snoswell says the Reserve Bank’s 50-basis-point cut in the official cash rate in May is the main reason for improving sentiment among centre managers.
Despite the positivity of centre mangers consumers remain cautious, with <a href="https://www.propertyobserver.com.au/trends/time-to-buy-a-dwelling-sentiment-improves-but-unlikely-to-flow-through-to-purchases-westpacs-bill-evans/2012061355096" target="_blank">the Westpac-Melbourne Institute Index of Consumer Sentiment showing no recovery in May following the rate cut</a>.
“Cautious consumers are going to be wary of spending the savings from lower mortgage payments on retail goods, at least in the short term,” says Snoswell.
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Retail centres need to change tenant mix to improve performance: Jones Lang LaSalle

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Melbourne’s urban growth boundary will extend outwards over the next 20 years to incorporate six new fringe suburbs and provide new homes for up to 100,000 people.
The plans, unveiled by Victorian Planning Minister Matthew Guy, includes the development of six new metropolitan suburbs at Diggers Rest, Lockerbie, Lockerbie North, Manor Lakes, Merrifield West and Rockbank North and follow the completion of the Logical Inclusions Review of Melbourne’s Urban Growth Boundary (UGB).
The new suburbs will expand Melbourne’s urban boundary to the North (Mitchell and Whittlesea), to the West (Hume, Melton and Wyndham) and South East (Cardinia and Casey) by 6,000 hectares.
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The 6,000-hectare expansion is significantly less than the 43,000-hectare expansion planned under by the previous Victorian government.
Plans for the new suburbs include the building of new train station, town centres, open space and other key infrastructure
Over the next 20 years there will be
<ul>
<li>3,800 homes developed for 10,700 residents in Diggers Rest in Melton as well as local town centre located, the extension of Houdini Drive, a multi-purpose community centre and additional sportsgrounds.</li>
<li>10,500 new homes for 29,500 new residents in Lockerbie (incorporating parts of Hume, Mitchell and Whittlesea) as well as a new train station, a new north-south arterial road, three state primary schools and a secondary school, four new sports reserves and a new principal town centre next to the future train station.</li>
<li>4,600 new homes for 13,000 new residents in Lockerbie North (incorporating parts of Mitchell and Whittlesea)  along with a new train station, a new north-south arterial road, two state primary schools and a secondary school, two new sports reserves, a transit oriented town centre next to the future train station.</li>
<li>4,850 new homes for 13,500 new residents in Manor Lakes (in Wyndham) along with two state primary schools, two large new recreation reserves, a local town centre and an important new north-south arterial road.</li>
<li>7,000 new homes for 20,000 in Merrifield West (in Hume) along with the development of two state primary schools, football and soccer grounds, two local town centres and a number of local parks</li>
<li>6,650 new homes for 18,500 new resident in Rockbank (in Melton) over a longer 25 year time frame) along with the development of two state primary schools, a secondary school, three active recreation reserves, two local community facilities, higher order civic uses, passive recreation and linear trail network, a major and local town centre and an important east-west arterial road. </li>
</ul>
 
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Merrifield West residents travelling into the city will have to rely on the Donnybrook V/Line rail station or drive seven kilometres to the Craigieburn rail station, while Rockbank North and Lockerbie residents will need to use already busy V/Line rail stations until the new train station proposed for Beveridge is completed. 
There will be an expansion of the Diggers Rest V/Line rail station.
Guy says the urban expansion plan will provide opportunities for Melbourne’s economic and social future.
“Housing, employment, infrastructure and all the other elements that make up our community need to be planned and implemented carefully,” he says
“The completion of this review will lead to urban growth boundary modifications to ensure adequate long-term land supply and enable planning for population growth to be completed well ahead of time.”
Many of these new outer suburbs are already the focus of new housing developments, with the March quarter Oliver Hume residential communities report noting that 10 new communities comprising a total of 3,400 lots launched over the first three months of the year.
Four of the 10 projects were located in Wyndham, three in Melton, two in Whittlesea and one in Hume.
The report says it would take 6.8 months to sell the current level of supply represents 6.8, exceeding the industry benchmark of six months for the first time since the September quarter of 2006.
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All municipalities experienced a rise in supply with 20 months’ worth of supply in Mitchell (Wallan-Beveridge) and also double-digit level of supply in Melton. The City of Hume is now the tightest market, with only 4.2 months of supply. 
The report also notes declining land prices with average lot prices having fallen $16,000 to a median of $210,000 from their peak of $225,750 in the December quarter of 2010, a fall of 7.5% over the 15 months.
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