<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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Sydney’s low rental vacancy rate continues to insulate the residential property market against wider economic forces, according to the latest CBRE review of the NSW residential market. 
The report quotes Residex figures showing that Sydney house prices are down 0.4% over the past 12 months to March to a median of $667,500 – a strong result relative to Melbourne (6.2% decline to March) and Brisbane (down 4.3%). 
It also notes RP Data-Rismark figures showing a 1.2% gain in Sydney house prices for the March quarter to a median of $572,000. 
CBRE assesses the Sydney’s housing market as being “reasonably positioned in relation to the remainder of the Australian market”. 
In line with a similar trend in Perth, the picture is brightest for affordable properties priced under $500,000, which continue to attract most demand, with prestige homes remaining under pressure. 
CBRE associate director of global research  consulting Sam Reilly says this stability is linked to low vacancy rates, “which continue to underpin the market”. 
“This [low vacancy rate] has somewhat insulated Sydney from the significant declines in capital values that have been witnessed recently in other states,” he says. 
Sydney’s vacancy rate remained unchanged at a very low 1.6% in March quarter figures released by the Real Estate Institute of Australia (REIA) – the lowest of all capital city market, with Brisbane at 1.7%, Perth at 1.9% and Melbourne and 2.3%.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/06/cbrejune14.gif"><img src="/images/stories/2012/06/cbrejune14thumb.gif"></a>
REIA says that a vacancy rates lower than 3% indicate strong demand for rental accommodation. 
House rents rose by 6.9% and unit rents by 8.9% over the year to March 2012 according to CBRE, with weekly rents for houses and units sitting at $545 and $490 respectively as at March this year. 
The CBRE report also notes that sales volumes for Sydney houses have shown signs of a recovery, with a moderate increase of 3.2% over the year to March 2012 to 42,118. 
There were 40,452 units sold during the same period, representing an increase of 6.2% on the previous year, meaning that annualised house sales surpassed more affordable unit sales for the first time since the end of 2009.
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This occurred at a time when the NSW government offered an additional $7,000 for first-home buyers as part of its first-home owner boost scheme, which ran from October 2008 to December 2009. 
CBRE senior director for NSW residential mortgage valuations Ted Hoskin says although the house and unit markets remain under pricing pressure, recent results pointed to a moderate recovery for the state. 
“With increased sales volumes for both property types, it appears that although not yet supporting a longer term recovery, the sustained down trend in market activity appears to have stopped and a greater degree of stability is now being recorded,” he says. 
Buy activity and demand differs from region to region: 
Eastern suburbs 
 
Though buyer activity has dropped since the end of the first-home owners’ stamp duty exemption, properties in the eastern suburbs priced around $500,000 continue to experience strong levels of demand. 
“For both houses and units between $500,000 and $1 million there has been a slight decrease in buyer demand, with agents reporting conditions have decreased from mid-2011,” he says. 
Sydney CBD 
The Sydney CBD market experienced solid demand for units priced below $500,000 although units up to $1 million faced weaker conditions. 
Sydney’s north-west and western suburbs 
Prices remain relatively stable across the quarter, with steady demand particularly evident in the lower to mid-market ($400,000 to $650,000). 
CBRE says property priced up to $1 million is experiencing consistent levels of buyer enquiry, which is a positive sign. 
The south-west market, including growth centres around the Macarthur area, has slowed for lower-priced properties ($280,000 to $400,000), with reduced buyer demand and contracting sales volumes. 
The south-west middle market between $400,000 and $500,000 has attracted steady levels of demand. 
South Sydney 
Prestige properties in Sydney’s south fared best in the quarter, with steady demand for well-presented properties in good positions between $1 million to $2 million. 
Wollongong and Illawarra 
Wollongong and Illawarra had the strongest $500,000 price bracket for all NSW dwellings in 2012 to date, while pressure was evident in the same bracket in Sydney’s southern suburbs, including the Sutherland shire, after strong growth at the end of 2011.
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lschlesinger-FZcF9M3vE6

Low rental vacancy rate ‘insulating’ Sydney residential property market against economic woes: CBRE

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Property development can be daunting, so I’ve put together some FAQs to help address some of the important questions that will arise as you start your development.
This has been broken down to a three-part series:
<ol>
<li>Getting started</li>
<li>Design, planning and approvals</li>
<li>Construction time</li>
</ol>
Today I will talk about getting started.
What is a developer?
I quite like this description:
“Developers buy land, finance real estate deals, build or have builders build projects, create, imagine, control and orchestrate the process of development from the beginning to end” Wikipedia 
I especially like the words ‘create, imagine and orchestrate’, as this is exactly what we do at Property Bloom.  When we find a development site, I will stand on it and spend some time visualising what can work on the land,
What’s my development strategy?
Only you can answer this one.  It’s important to determine your development strategy and your investing criteria before looking for a development site.
Your strategy may include:
<ul>
<li>Land subdivision</li>
<li>Renovating and adding value to an existing dwelling</li>
<li>Dual-occupancy or low-density development</li>
<li>Renovating an existing dwelling and building new villas/units also on the land</li>
<li>Medium-density development</li>
</ul>
 
How much money will I need?
Well, that’s like putting the chicken before the egg. You should set a budget before you find your site. Your budget will help to determine your development strategy.  A simple land subdivision will be less costly (but not necessarily quicker) than a larger villa/unit development for instance.
How much profit should I be making?
Profit can come in many forms: long-term capital growth, rental yield, depreciation or tax returns and equity, even self-fulfilment.   As part of your strategy, you will need to determine your financial and personal objectives.   Do you want to sell immediately?  Are you planning to hold and refinance to draw out the equity you’ve created?  Are you developing to hold, rent and build your portfolio?
Each decision will mean different outcomes, and you need to seek the advice of professionals on this. Start with your accountant to ensure you understand the GST, CGT and other tax implications of your plans.
What’s the one thing you need before you put an offer in?
A conditional loan approval.  Knowing that you have a preapproval to a certain amount is a valuable negotiation tool. Tell the agent that you have your finance approved as you make your offer so he or she understands that you are serious and can follow through on your offer.
What are the four crucial pre-purchase checks needed?
<ul>
<li>Pest and building report – if there is an existing house you are going to keep/upgrade</li>
<li>Ident survey – this will show the dimensions, description of the property, any covenants easements and/or encroachments to the land.</li>
<li>Review the sales contract – use the professional services of a conveyance or solicitor, but you can easily check the 149 planning certificate to ensure it is recent. This document will tell you the zoning and if the property in a flood-prone, bushfire-prone or mine subsidence area and many other environmental factors. </li>
<li>Confirm with the council what can and can’t be done with the land, and you should have a good understanding of council’s development control plans.</li>
</ul>
 
Two important steps to make once you exchange or secure the site:
Order a contour or detailed survey – this is needed to supply to your architect or draftsperson and your builder so they can start work on your plans.
Order a geotechnical report – this will determine the site and soil classification and ultimately have a bearing on then engineering for your slab or footing design.  If you think the site could be risky, for example if you think it may be undermined or have a water course near or below it, have a geotech report done before you exchange or secure the site.
Who do I need on my development team? 
<ul>
<li>Property specialist accountant and solicitor</li>
<li>Finance broker or personal banker </li>
<li>Surveyor</li>
<li>Architect/draftsperson</li>
<li>Builder and other tradesmen, such as plumber, electrician, carpenter</li>
<li>Consultants such as an engineer and private certifier</li>
<li>Quantity surveyor </li>
<li>Development project manager  – to guide you through the entire process</li>
</ul>
Getting started can often be the hardest step. Once you’ve found your site, completed your due diligence, worked out just what you are going to be doing with it and managed to secure it, then the best parts are yet to come.  Let the creative process begin.
Look out for part two next Thursday.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/" title="Property Bloom" target="_blank">Property Bloom</a>, which manages property development.
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jochivers-wq5Bp59R5a

How to get started in property development

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A Moonee Ponds property has appeared third on SQM Research's list of the 10 most discounted properties in Australia, which this week contains no units, only houses. 
Some of the houses on the list have been on the market for years, with SQM director Louis Christopher pointing out that the ninth-ranked property, 1302 Birkdale Place, Magenta on the NSW central coast, has been on the market for 1,446 days, or almost four years. Its price hopes have been reduced by $250,000, or 36%, in that time.
"We have seen a lot of price slashing occurring on the central coast, with many homes either stagnating in value or decreasing over time," Christopher says. 
"A region that was not too long ago a hotspot for Sydneysiders who desired an affordable seaside home, the central coast property market is softening considerably, with a vast supply of homes on the market priced to sell. This could be partially due to the fact that the area is highly reliant on tourism, a facet of the Australian economy that has suffered substantially over the past two years. The NSW central coast also has a pretty narrow based economy and with the high rate of supply added to the property market over time, it is understandable that there has been an oversupply of real estate in the area."
In contrast, 60 Margaret Street, Moonee Ponds, has been on the market for just over a year, and its vendors have this week slashed its $1 million price hopes by 38%, to $620,000. It is currently operating as a beauty salon. It last sold in 2008.
 
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009160249" target="_blank">27 Shaws Pocket Road, Cedar Creek, Queensland, 4207 </a>
On the market since: August 15, 2011
Initial asking price: $1.19 million
Current asking price: $699,000
Reduction: 41%
Days on market: 293
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744" target="_blank">11 Pyrites Road (via Nairne), Brukunga, SA, 5252</a>
On the market since: May 23, 2010
Initial asking price: $253,000
Current asking price: $155,000
Reduction: 39%
Days on market: 741
 
3
<a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-107312818" target="_blank">60 Margaret Street, Moonee Ponds, Victoria, 3039</a> (pictured)
On the market since: April 9, 2011
Initial asking price: $1 million
Current asking price: $620,000
Reduction: 38%
Days on market: 420
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008435199" target="_blank">502 Tarni Court, Port Adelaide, SA, 5015</a>
On the market since: January 28,2010
Initial asking price: $725,000
Current asking price: $450,000
Reduction: 38%
Days on market: 707
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105812631" target="_blank">1892 Stapylton Jacobs Well Road, Jacobs Well, Queensland, 4208</a>
On the market since: July 12, 2009
Initial asking price: $515,000
Current asking price: $320,000
Reduction: 38%
Days on market: 1,056
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488">202 Wolstenholme Avenue, Greendale, NSW, 2745</a>
On the market since: January 16, 2011
Initial asking price: $2.95 million
Current asking price: $1.85 million
Reduction: 37%
Days on market: 504
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a> 
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 889
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307">26a Paling Street, Thornleigh, NSW, 2120</a>
On the market since: May 16, 2009
Initial asking price: $1.1 million
Current asking price: $700,000
Reduction: 36%
Days on market: 1,113
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761" target="_blank">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,446
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009467436" target="_blank">4565 Channel Highway, Middleton, Tasmania, 7163</a>
On the market since: January 24, 2012
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 132
 
SQM Research also offers a list of the <a target="_blank" href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research">Top 100 Biggest Bargains in Australia </a>for sale.
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cknowlton-QnEa6ntUYP

Moonee Ponds overlooked beauty makes debut at number three on SQM discounted properties list

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Westpac has used the RBA cash rate cuts of May and June to position Bank of Melbourne as its budget bank brand among its multi-brand offering while reeling in the discounts offered by its mortgage franchise RAMS.
Before the RBA began cutting the cash rate in November, St George, BankSA and Bank of Melbourne all offered a benchmark standard variable rate of 7.8%, with Westpac’s six basis points higher at 7.86%
RAMS was significantly cheaper with a rate of 7.63%, a 23-basis-point difference.
Fast-forward eight months and Westpac still has the highest standard variable mortgage rate at 6.89%, but Bank of Melbourne is now the lowest of the budget bank brands, with a standard variable mortgage rate of 6.8%, followed by BankSA (6.85%) and St George (6.86%)
RAMS maintains its position as having the lowest standard variable rate of the Westpac brands at 6.75% but is now only five basis points lower than Bank of Melbourne – thanks mainly to RAMS not passing on any of the December RBA cash rate cut – and only 14 basis points lower than Westpac.
Rate changes for Westpac brands following start of RBA cash rate cutting cycle in November 2011
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<td width="102" valign="top">
Brand
</td>
<td width="78" valign="top">
SVR June
</td>
<td width="78" valign="top">
 SVR May
</td>
<td width="73" valign="top">
SVR Feb 
</td>
<td width="77" valign="top">
SVR Dec 2011
</td>
<td width="77" valign="top">
SVR Nov 2011
</td>
<td width="60" valign="top">
SVR Oct 2011
</td>
<td width="71" valign="top">
Total change since Nov
</td>
</tr>
<tr>
<td width="102" valign="top">
Westpac
</td>
<td width="78" valign="top">
6.89% (- 20 bps)
</td>
<td width="78" valign="top">
7.09% (- 37 bps)
</td>
<td width="73" valign="top">
7.46% (+10 bps)
</td>
<td width="77" valign="top">
7.36% (-25 bps)
</td>
<td width="77" valign="top">
7.61% (-25 bps)
</td>
<td width="60" valign="top">
7.86%
</td>
<td width="71" valign="top">
-97 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
St.George
</td>
<td width="78" valign="top">
6.86% (-18 bps)
</td>
<td width="78" valign="top">
7.04% (-38)
</td>
<td width="73" valign="top">
7.42% (+12 bps)
</td>
<td width="77" valign="top">
7.30% (-25 bps)
</td>
<td width="77" valign="top">
7.55% (-25 bps)
</td>
<td width="60" valign="top">
7.80%
</td>
<td width="71" valign="top">
- 94 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
BankSA
</td>
<td width="78" valign="top">
6.85% (-19 bps)
</td>
<td width="78" valign="top">
7.04% (- 38 bps)
</td>
<td width="73" valign="top">
7.42% (+12 bps)
</td>
<td width="77" valign="top">
7.30% (-25 bps)
</td>
<td width="77" valign="top">
7.55% (-25 bps)
</td>
<td width="60" valign="top">
7.80%
</td>
<td width="71" valign="top">
- 95 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
Bank of Melbourne
</td>
<td width="78" valign="top">
6.80% (-19 bps)
</td>
<td width="78" valign="top">
6.99% (-41 bps)
</td>
<td width="73" valign="top">
7.40% (+10 bps)
</td>
<td width="77" valign="top">
7.30% (-25 bps)
</td>
<td width="77" valign="top">
7.55% (-25 bps)
</td>
<td width="60" valign="top">
7.80%
</td>
<td width="71" valign="top">
-100 bps
</td>
</tr>
<tr>
<td width="102" valign="top">
RAMS
</td>
<td width="78" valign="top">
6.75%  (-21 bps)
</td>
<td width="78" valign="top">
6.96% (-32 bps)
</td>
<td width="73" valign="top">
7.28% (+10 bps)
</td>
<td width="77" valign="top">
7.38% (0)
</td>
<td width="77" valign="top">
7.38% (-25 bps)
</td>
<td width="60" valign="top">
7.63%
</td>
<td width="71" valign="top">
- 88 bps
</td>
</tr>
</tbody></table>
 Bank of Melbourne is also trying to convince borrowers that it is a separate entity to its big four parent, with the ads in its windows talking about it matching the big four on price while beating them on service.
“Not a bad bit of spin for a bank wholly owned by the country's second-biggest major. It's a question of whether customers will buy it,” wrote Stewart Oldfield, an analyst at Investorfirst Securities, in the Fairfax press.
Oldfield says Westpac’s multi-brand strategy in Victoria is about trying win new customers by offering them a “regional bank” experience in a state where regional bank representation is low compared with the national average.
“Privately, the bank also highlights the ability to price brands differently, depending on market conditions,” he says.
What is also noticeable is that the range of standard variable rates offered across the five brands has shrunk from 23 basis points in November to just 14 basis points in June, providing less of an incentive for borrowers to refinance from one Westpac mortgage brand to another.
Westpac kicked off its multi-brand mortgage strategy –likened to that of consumer products giant Unilever – following the outbreak of the GFC.
It acquired the RAMS brand name and franchised stores for just $140 million in January 2008 following the disastrous float of the then non-bank lender.
One month later Gail Kelly left her role as St George chief executive to assume the position of Westpac CEO.
Twelve months later Westpac bought St George for $18.6 billion.
Westpac relaunched the Bank of Melbourne brand in August last year, replacing St George in the Victorian market.
</body></html>

Westpac uses rate cuts to push Bank of Melbourne challenge to RAMS discount brand

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Australian housing prices are unlikely to rise in winter despite an increase in buyer enquiries, says McGrath Estate Agents chief executive John McGrath, who is forecasting a “long and slowish recovery” over the next three to five years.
In his latest winter market review, McGrath, notes that in March, “the country’s largest mortgage broker, AFG, had its second biggest month ever in NSW since their index commenced in 2004 with $842 million in new lodgements”.
“While this clearly indicates more buyers are out there, they remain very price sensitive,” he writes.
“Reserve Bank interest rate cuts will no longer have the effect we’re used to given the banks’ reluctance to pass on the full amount. The official cash rate is now at its lowest since November 2009, when the economy was recovering from the initial impact of the GFC.
“While this might result in more sales activity in winter, it won’t push prices higher because buyers are still worried about Europe and are wary of protecting themselves financially as we enter a new era of aversion to debt,” he says.
Overall though, McGrath says Australia’s housing markets are not in a bad state, “but people continue to wait for positive signs”.
“This has been a protracted and agonising period of uncertainty. The constant flow of good and bad news both at home and overseas continues to undermine confidence.
“Once we see some positive and sustained economic change overseas, I believe our property market will begin a long and slowish recovery over a three to five year timeframe,” he says.
McGrath’s bearish outlook on prices is unchanged since December, when he noted a “marked improvement in buyer enthusiasm” but said that people were “looking for more good news to regain their confidence to buy and sell”.
Similarly in March, McGrath said there would be no significant price “increases until the Europe is resolved and we see further signs of recovery in the US”.
His observations echo those of <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">Westpac chief economist Bill Evans</a> following the 7.5% increase in the ‘time to buy a dwelling” Westpac-Melbourne Institute consumer sentiment sub-index.
Evans said “buyers will tend to be reluctant to follow through on purchases while there are concerns about the economic outlook and job security”.
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‘Long, slowish recovery’ on the cards Australian property market despite rise in buyer enquiries: John McGrath

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New Waterloo development Madison hopes to appeal to Sydneysiders who believe that good things come in small packages – and investors or upgraders, who have until July 1 to make up their minds to avoid paying stamp duty on the offerings under $600,000.
<img src="/images/stories/2012/06/madison1.jpg">
Construction is due to begin on the Elizabeth Street site next month and is expected to be completed at the end of 2013. The development launched in mid-May and is about 50% sold.
The 47 one-, two- and three-bedroom apartments “have been meticulously designed to take full advantage of every square inch of space,” says the marketing.
<img src="/images/stories/2012/06/madison2.jpg">
The 22 one-bedroom apartments (which come with studies/media rooms) will range from 58 square metres to 68 square metres internally and are priced from $489,000. The 13 two-bedroom units start from $595,000 and range from 72 square metres to 78 square metres. There are 10 two-bedroom apartments with studies or media rooms, and they range from 79 to 94 square metres internally. There are just two three-bedroom offerings, with prices starting from $899,000. They are 109 square metres.
<img src="/images/stories/2012/06/madison3.jpg">
First-home buyers might want to hold off until October 1 before they purchase in order to take advantage of the recently announced <a 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 bonus of $15,000</a>, but investors and upgraders who want to buy one of the units under $600,000 would be exempt from stamp duty until July 1 under <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863">the NSW home builders’ bonus.</a> From July 1 investors or upgraders will only be entitled to the NSW <a href="https://www.propertyobserver.com.au/landlords/nsw-property-investors-condundrum-take-the-%2422490-housing-bonus-now-or-just-%245000-after-july-1/2012061255081">$5,000 new-home bonus</a> if they buy off the plan.
<img src="/images/stories/2012/06/madison4.jpg">
The project is being developed by Loftex and is being marketed by Whiterock Residential Projects. Whiterock Residential Project chief executive Andrew Donnelly says investors and first-home buyers are increasingly moving to Waterloo.
“There is a major shift happening,” he says.
<img src="/images/stories/2012/06/madison5.jpg">
“With over 85% of apartments being sold in the inner west and eastern suburbs to first-home owners, young professionals and investors, the trend is now moving towards greater affordability and smarter, more efficient architectural design.”
The project has been designed by architectural firm Nettleton Tribe, and units have floor-to-ceiling windows to take advantage of parkside views.
The majority of the one-bedroom apartments and some of the two-bedders do not have parking, but Loftex general manager Rob Turchini told Fairfax Media he expected lack of parking would not deter buyers.
“We've found there's not much resistance to that because it's close to Green Square station and has a bus stop out the front, share cars and scooter parking," he says.
The median unit price in Waterloo is $513,000, according to RP Data, and unit prices fell 5.1% in the past year. The median asking rent is $550, and the indicative gross rental yield for the suburb is 5.6%.
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Madison Waterloo aims to maximise small spaces: June 30 investor bonus countdown

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New residential apartments are currently selling better than detached houses, according to most estimates. However, other than for a few of the off-the-plan developments, data is not readily available, imposing a reliance on people in the field to ascertain the true performance of the market.
Nonetheless PRDnationwide continues to witness the shift in demand from detached houses to units.
New South Wales already has the largest number of strata-titled properties in the country, with approximately one quarter of Sydney’s population living in strata titled homes, according to the University of New South Wales.
The following trends contribute to the demand for units:
<ol>
<li>Gen Y’s preference for well-located property, close to amenities and if possible to city centres departs from their parents’ choice of detached homes in the suburbs.</li>
<li>Local and overseas investors are trying to predict the demand from Gen Ys and look for modern apartments with close proximity to entertainment precincts. They draw confidence from the strong increases in Sydney’s rents over the past 12 months and the advantages in not tying large amounts of capital until the development is complete.</li>
<li>Some owner-occupiers use the extended period until the settlement of their new apartments to prepare their current residence for sale, possibly receiving higher offers for their house or unit in a rising market over the next 12 to 24 months.</li>
<li>From an investment point of view units show higher liquidity, with lower time on the market and lower discounting than houses.</li>
</ol>
Over the past three years we have seen a fall in first-home buyer activity as government incentives decline. First-home buyers’ activity was likely to drop again when the stamp duty exemption for purchases of apartments below $600,000 was withdrawn at the end of June, however the exemptions will now continue.
At the same time second-home buyers or upgraders are active in the market, as well as downsizers. It is interesting to note that some downsizers who live in apartments in three-storey walk-up buildings and are nearing their 50s and 60s find modern building that include an elevator and easy access attractive as they start to plan their retirement.
Further, some areas such as south Sydney are experiencing strong sales activity due to changes in zoning, as suburbs such as Botany and Mascot turn from industrial to residential hubs. This leads to an increase in the values of existing houses and apartments, allowing their owners to borrow against the rising levels of equity to purchase new properties in the same area.
The sale of new residential apartments is Sydney is buoyed by an extensive buyer base and an increasingly attractive product. However, in order to ensure the performance of the dwelling, it is vital for investors and owner-occupiers to look for well-located properties that will appeal to a wide range of buyers.
Oded Reuveni Etzioni is a research analyst at <a target="_blank" href="https://www.prdnationwide.com.au/site/page.cfm">PRDnationwide</a>.
Photograph of scaffolding by Victoria Pickering, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
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oetzioni-5WiKTPzvNv

New apartment sales the shining beacon in Sydney's residential market: PRDnationwide's Oded Reuveni-Etzioni

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With the financial year end soon approaching, it is a good time for property investors to make an inventory of papers they should collate as part of the tax preparation process. 
While some of the expenses to prepare are obvious, there are others that require some thought and discussion with your tax consultant. 
A brief discussion of the most salient items may be useful: 
<ol>
<li>Real estate agents’ statement of income and expenses for the property for the financial year. Where you have changed agent during the year; ensure you have a statement of income and expenses from the previous agent. Property agents’ fees are included in the annual summary.</li>
<li>Council rates – this item is easy to collate.</li>
<li>Body corporate expenses. This item is usually invoiced separately and is easy to provide.</li>
<li>Insurance on the property and it would include also landlords insurance, as well as public liability.</li>
<li>Water charges are now separately invoiced in most states, and it is easy to identify the costs.</li>
<li>Pest control </li>
<li>Cleaning and garden maintenance</li>
<li>Advertising for tenants – this item would normally be included in the estate agents’ statements.</li>
<li>Telephone calls to the real estate agent. Such an item is directly related to the income rental, and a landlord should make a reasonable estimate based on calls per month.</li>
<li>Repairs and maintenance are always an area of concern, as some of the expenditure may represent improvements. Where you are unsure it is best to provide copies of invoices to your accountant for discussion. Items as painting are generally treated as repairs, but replacement of, say, a dishwasher is a depreciable item.</li>
<li>Interest expense on the investment property. Where you are unsure of amounts to claim then provide all bank statements for investment loans to your accountant. For new investors your statements may include certain borrowing costs that have to be amortised. Typical of borrowing costs are lenders mortgage insurance, bank legal fees, stamp duty on registering mortgage, and bank valuation fees.</li>
<li>Quantity surveyors report the cost incurred for new investors is tax deductible, and a copy of the report should be submitted to your accountant.</li>
<li>Travel to inspect properties. Only legitimate expenses should be claimed for this item, and driving by an investment property is not deemed an inspection. If you travel interstate to inspect a property and attach a holiday to it then you would need to apportion the cost of travel and accommodation relevant to the inspection alone.</li>
</ol>
The above list is not exhaustive of items that may be claimable, but it represents the major items. 
Where in doubt consult your tax adviser.
Henry A. Ohana CPA is a tax accountant and agent specialising in rental property investors, residential and commercial at <a target="_blank" href="https://www.boutiqueaccounting.com.au/">Boutique Accounting</a>.
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hohana-X8ppunVgZ6

The 12 tax tips for collating information on your rental property

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A new Monopoly board featuring Sydney landmarks and streets is to be launched in November.
The public is being encouraged to nominate the city's entries via Facebook.
<img src="/images/stories/2012/06/monopoly.jpg">
The first to “like” the Sydney Monopoly Facebook page was lord mayor Clover Moore, who nominated King Street, Newtown, Glebe Point Road and Oxford Street as her suggestions. The lord mayor said a global city like Sydney deserved to be immortalised in the world’s most famous game.
“I’d encourage everyone to have their say about which Sydney streets should replace those famous London names like Fleet Street and Pall Mall.”
Woollahra mayor Susan Wynne wants Queens Street, Woollahra.
“I love Monopoly, and I think it’s fantastic that it going to be updated with a local feel,” she told the Wentworth Courier.
“Wolseley Road Point Piper, without a doubt, has to take the position of Mayfair,” says James McCowan from Raine &amp; Horne Double Bay.
Even the Swans AFL could get a guernsey on the board.
The naming continues until Sunday, June 24, to nominate a location via the <a href="https://www.facebook.com/sydneymonopoly" target="_blank">Sydney Monopoly Facebook page</a> or <a href="mailto:info@winningmoves.com.au">email Winning Moves, </a> which is the manufacturers of the official Monopoly Sydney version, under licence from Hasbro.
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jchancellor-FAypfDUnLy

Soon you can buy the Harbour Bridge, as Sydney Monopoly board game to launch in November

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Prime Minister Julia Gillard has taken aim at the states' stamp duties on home purchases in her opening speech of the government's economic forum in Brisbane.
It was briefly raised in the context of how the nation improved its competitiveness through increased labour mobility.
She linked the issue of labour shortages in the mining sector to stamp duties on real estate transactions.
"We've got to talk about labour mobility… We've got to crack this nut. Workforce is one of the real nubs of the economic discussion in Australia.
"We've worked on national licensing of professions and trades and on incentives for welfare to work, and now we're turning attention to more improvements to jobs services, and to issues like state transaction taxes on property as well."
Stamp duties on conveyancing sits among the biggest sources of revenue for most state governments.
The ACT government has begun a 20-year stamp duty phasing out to be replaced by higher annual property rates.options to replace stamp duty are concerned, this really only leaves the one that was ignored: GST.
Enzo Raimondo, the CEO of the Real Estate Institute of Victoria, <a href="https://www.propertyobserver.com.au/tax/increased-gst-is-the-only-real-alternative-to-stamp-duty-enzo-raimondo/2012061255068" target="_blank">suggested yesterday that the GST had to figure promintly in any considerastion of options to replace stamp duty.</a>
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