<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 world’s housing market decline accelerated during the March quarter, with house price falls in 26 countries and house price gains in only 10.
Over the year house prices had fallen in 24 countries of the 36 countries for which house price statistics are available and rose in only 12 countries during the year to the first quarter of 2012, according to the Global Property Guide's latest house price indices survey.
It noted Australian house prices fell for the fifth straight quarter to be down 6.04% from a year earlier, the longest downturn for a decade.
It also noted the borrowing costs in Australia were the highest of major developed nations.
New Zealand house prices climbed by 0.82% over the year to quarter 2012, after falling 4.79% the previous year, the report noted, suggesting NZ sales activity had been strong for the last few months, with volumes at the highest levels since 2007.
The list of 36 countries was topped by the rapid rise of house prices in India (Delhi) and Brazil (Sao Paulo), although their momentum slowed during the latest quarter.
<img src="/images/stories/2012/06/houseprices.gif">
Over the year to quarter 1 2012, Delhi house prices skyrocketed by 24%, though during the last quarter, they fell 0.07%. House prices fell in some other Indian cities like Chennai and Kolkata year-on-year, according to NHB Residex.
In Sao Paulo house prices climbed by 18.7% in the year to the first quarter 2012. During the latest quarter there was a more moderate price rise of 2.57%.
The report recorded housing markets in Asia cooled over the year due to government measures implemented last year. House prices in Hong Kong were up 0.19% on the year, after a rise of 19.8% the previous year.
There were house price falls in Indonesia (-0.13%), Singapore (-1.36%), Tokyo, Japan (-2.64%) and Shanghai, China (-3.68%).
Europe has yet to emerge from the downturn, highlighted by Ireland’s price declines, which GPG described as catastrophic.
“It is disheartening to see more agony, yet the picture really is alarming,” GPG said.
“House prices fell 18.95% year-on-year, contrasting with a decline of 'only' 13.12% during the same period last year.
“Furthermore, house prices were down 5.19% during the latest quarter.
“Tough credit conditions, an oversupply of housing, and weak domestic demand have weighed down the Irish residential property market,” the report said.
The Global Property Guide's statistical presentation uses price changes after inflation, giving a more realistic picture than the more upbeat nominal figures usually preferred by real estate agents.
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jchancellor-FAypfDUnLy

House prices fall in 26 countries in March quarter, with Australia in longest downturn in a decade: Global Property Guide

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The regulation of self-managed super funds (DIY funds) shows no signs of easing. Given their importance in terms of the total superannuation sector, perhaps that is not surprising. But regulation changes may catch some DIY fund trustees out if they are not aware of what's coming.
Most recently, the federal government has released draft regulations proposing to require trustees of self-managed superannuation funds (SMSFs) to:
<ul>
<li>value the assets of the fund at "net market value" for reporting purposes;</li>
<li>consider whether to hold a contract of insurance for one or more of their members;</li>
<li>"review regularly" and document the investment strategy; and</li>
<li>keep money or other assets of an SMSF separate from money and assets held by a trustee personally or by a standard employer-sponsor (or an associate).</li>
</ul>
These are important changes and once the regulations are finalised they would apply from July 1, 2012, only a few weeks away. So what do the changes mean?
<h3>Net market value</h3>
The draft regulations propose to require trustees of SMSFs to value the assets of the fund at "net market value" for reporting purposes from the 2012-13 year of income i.e. from July 1, 2012.
"Net market value" will be defined to mean the amount that could be expected to be received from the disposal of an asset, in an orderly market, after deducting the costs expected to be incurred in realising the proceeds of such a disposal. This definition of "net market value" is the same as that used in Australian Accounting Standard AAS 25 which requires large APRA-regulated superannuation funds, as reporting entities, to value their assets at net market value as at the reporting date.
Currently, SMSFs are generally able to choose either historical cost or market valuation accounting methods to value their assets when preparing a statement of financial position and an operating statement in respect of each year of income. SMSFs in pension phase (and in-house assets) are already required to value assets at "market value" (defined in s 10(1) of the SIS Act) each year. Note that a person commits an offence if they contravene the laws regarding preparing a statement of financial position and an operating statement with a maximum penalty of $11,000.
<h3>Separation of assets</h3>
A proposed new operating standard in the super regulations will require a trustee to keep money and other assets of an SMSF separate from any money or assets held by a trustee personally or by a standard employer-sponsor (or an associate).
This requirement is currently established by way of a covenant under the law which is deemed to be incorporated into the governing rules of the fund. However, the Tax Office is currently unable to enforce compliance with covenants and relies on voluntary compliance by trustees.
The proposal to make this requirement an operating standard will mean that a person who intentionally or recklessly contravenes the new regulation will be guilty of an offence punishable on conviction by a fine up to $11,000.
<h3>Investment strategy review</h3>
SMSF trustees will also be required to "review regularly" the fund's investment strategy. Trustees will be able to substantiate compliance of this requirement to "review regularly" by documenting decisions in the minutes of trustee meetings that are held during the income year.
Many SMSFs may only have what could be described as a very "loose" investment strategy that is not even documented. They will need to be aware of the changes and the need to have a properly documented strategy that is reviewed regularly and documented in the minutes of trustee meetings.
Other funds may already be properly documenting their investment strategy reviews, so the changes may have less impact on them.
Either way, from July 1, 2012, there will be no choice in the matter. Funds must have an investment strategy and it must be reviewed and documented regularly.
<h3>Insurance strategy</h3>
The draft regulations also propose to amend the investment strategy operating standard in the superannuation regulations to require SMSF trustees to consider whether to hold a contract of insurance that provides insurance cover for one or more of their members. SMSF trustees will be required to consider whether to hold insurance for their members when they formulate, regularly review and give effect to the fund's investment strategy.
The government expects trustees of SMSFs to be self-reliant in determining the type and level of insurance cover their funds' members might require whether within or outside their SMSFs.
As the investment strategy requirement is a prescribed operating standard, a person who intentionally or recklessly contravenes this standard is guilty of an offence punishable on conviction by a fine up to $11,000.
SMSFs are facing increasing regulation. The days are gone when someone could set up such a fund almost on the back of an envelope. The SMSF sector now holds growing billions of dollars in funds, so it's not surprising the government is keen to see those funds properly managed. SMSF trustees will have to get used to that.
Terry Hayes is the senior tax writer at <a href="https://www.thomsonreuters.com.au/" rel="nofollow">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>
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thayes-XhNcNKLNWa

More regulation on the way for self-managed super funds: Terry Hayes

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Residential transactions in Australia generate a very high level of economic activity and create demand for a range of products and services directly related to housing   transactions. In 2010 there were approximately   544,000 transactions of established housing and an additional 103,000 purchases of new dwellings.  In Victoria in 2010 there were 133,000 established residential transactions with a value of $64 billion, and this represented 24.4% of the total established residential transactions.
Stamp duty on these transactions is one of the few state government taxes, and it provides approximately $27 billion or between 19 and 26% of their total revenue. Victoria has the highest at just over 26%.
Thankfully after debate lasting over a decade there is a level of consensus that stamp duties should be replaced. In 2000 the REIV commissioned a report from Access Economics titled The Economic Impact of Reducing State Taxes on Property, and in this report it was stated that reducing any of the state taxes on property would provide economic benefits greater than would be attained if payroll taxes were reduced by the same amount.
REIV members regularly report that stamp duty is a significant barrier for purchasers but unfortunately, there is a lack of consensus on how stamp duty should be replaced.
When the Henry Tax Review released its report on Australia’s future tax system it was done so with explicit instructions to not consider changes to the rate of GST.
This constrained the options that faced the panel of Ken Henry, Jeff Harmer, John Piggott, Heather Ridout and Greg Smith. As a result, they decided the best option to replace stamp duty would be to introduce a new tax similar to municipal rates or a broad-based annual land tax.
This would be a tax levied by state governments.
There are considerable flaws with this idea; it would be so complicated and take so long to equitably transition from stamp duty to land tax as to be unfeasible. This is especially the case when the politics are taken into account, as very few political leaders would be prepared to effectively double home owners’ annual municipal rates, even if it were in place of stamp duty.
There is, of course, inter-governmental politics at play here. The federal government, which sets the GST, does not want to suffer voter backlash, which is why it says the states are free to remove stamp duty. That is code for telling them to replace stamp duty with another state tax.
Income taxes are similarly politically charged and unlikely to be increased. The decision of the ACT government to do this, particularly to levy land tax those who have paid stamp duty, will therefore be keenly watched by other governments and the property industry.
As options to replace stamp duty are concerned, this really only leaves the one that was ignored: GST.
When the GST was introduced it was done so to remove inefficient state taxes; indeed, it was sold as a state tax. The state government already taxes commercial gain from property through land tax, and the personal tax structure is designed to tax wealth for redistributive purposes. There has never been a rational argument for taxing property ownership – except, of course, it is easy to collect because land is fixed and immobile.
In light of that, it does not seem sensible to ignore the efficient and effective broad-based tax that is already in place: GST.
This was the initial promise of the GST, and it’s time that I was fulfilled.
Using some back-of-the-envelope calculations it’s clear to see that increasing GST from 10% to 12.5% would raise the amount required to eradicate stamp duty. Unlike bringing in a new land tax, the collection cost would be almost zero and it would be substantially cheaper than creating a new taxation system. It would also avoid the need to transition from one property tax to another.
While GST was ignored as an option in the Henry Tax Review there is little chance that stamp duty will be eradicated.
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

Increased GST is the only real alternative to stamp duty: Enzo Raimondo

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Unicredit WA Mutual Bank, which passed on all 25 basis points from the RBA’s cash rate cut to borrowers, is offering one of the lowest standard variable mortgage rates at 5.85%.
The tiny lender, born out of the Chemistry Department at the University of Western Australia in 1964, has a standard variable rate that is 94 basis points below that of the average of the big four banks.

NAB was the last of the major banks to cut its variable mortgage, <a href="https://www.propertyobserver.com.au/residential/nab-stays-cheapest-but-only-passes-on-21bps-rate-cut-to-borrowers/2012060855049" target="_blank">reducing its benchmark variable rate product by 21 basis points just before 6pm as the Queen’s birthday long weekend began on Friday</a>.

This allowed NAB to keep its promise – just - of having the lowest standard variable rate of the big four banks – with a new rate of 6.78% from next Monday.

The standard variable rate gap between Westpac and the next cheapest – ANZ and the Commonwealth Bank – has widened.
The 19 basis points cut by the Bank of Melbourne (BoM) pipped rival Westpac brand NSW-based St.George's 18 basis point rate cut.
This took BoM's SVR down to 6.80% compared to St.George's 6.86%, with the bank far more ebulient in its media statement.
“With our new standard variable rate and market?leading fixed rate offers, together with the great life of loan discounts available under our Advantage Package, Bank of Melbourne is providing Victorians with some of the best home loan deals available,” said BoM chief executive, Scott Tanner. “It’s a great time forcustomers ? new or existing ? to speak to us to ensure that they are on the right home loan for them and maximising all of the benefits available.”
"This is good news for our customers," said St George Bank's general manager of retail banking Andy Fell in a statement.
Here’s a guide to the new standard variable rates of the major banks as well as some of the lowest standard variable rate offerings.

All rates correct as of 2pm, June 13.
5.85%

The new standard variable home loan rate of Unicredit WA Mutual Bank

6.02%

The standard variable home loan rate being offered by State Custodians Mortgage Company

6.22%

The new standard variable home loan rate of ING Direct’s Mortgage Simplifier variable home loan from June 15

6.28%

The new standard variable home loan rate of ME Bank
6.40%

The new standard variable home loan rate of Greater Building Society from June 15
6.75%

The new standard variable home loan rate of RAMS from June 15
6.78%


The new standard variable home loan rate of NAB and BankWest from June 18
6.80%

The new standard rate of ANZ (June 12), the Commonwealth bank (June 18) and Bank of Melbourne (June 18)
6.85%

The new standard variable home loan rate of BankSA from June 18.
6.86%
The new standard variable home loan rate of St George from June 18.

6.89%

The new standard variable home loan rate of Westpac from June 18 

6.90%

The new standard variable home loan rate of Bendigo Bank from June 25 

6.91%

The new standard variable home loan rate of Bank of Queensland from June 16
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lschlesinger-FZcF9M3vE6

From St George’s 18-basis-point cut to ANZ’s 25 bps: a guide to standard variable mortgage rates

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There are three architecturally designed townhouses left to purchase in Silvan, an eight-townhouse development that forms part of Scarlet Croydon, a master-planned community in the east of Melbourne.
Prices for the remaining townhouses range from $399,000 to $515,000, all under the $600,000 threshold for the <a href="https://www.propertyobserver.com.au/residential/time-running-out-for-first-home-bonuses-and-stamp-duty-concessions/2012052854863" target="_blank">Victorian government’s $13,000 first-home bonus</a>, which ends on June 30.
The townhouses are set against a backdrop of the Dandenong Ranges surrounded by wetlands, a children’s playground, a rotunda and barbecue facilities.
<img src="/images/stories/2012/06/silvan.jpg">
The homes are being sold with everything from fencing to driveways – even the letterboxes are included.
Scarlet Croydon offers expansive open spaces of established trees, parklands, wetlands and meandering walking trails, with all the comforts of enviable contemporary living.
The project is being marketed by the Oliver Hume Real Estate Group.
“The appeal of affordable and beautifully finished townhouses for first-home buyers and those looking to downsize is enormous with this current release,” says Oliver Hume Real Estate Group project director Gerrard Ellis
“These homes are a ‘totally turnkey’ purchase – buyers can move straight in. As well, council approval has locked in the streetscape, so buyers can be assured there will be no colour changes to neighbouring houses. Internally, with a variety of upgrade and colour options, the choice is all theirs.”
<img src="/images/stories/2012/06/silvan2.jpg">
Each residence affords a variety of interior colour selections, with diverse upgrade options for kitchens and bathrooms. The houses have a six green star rating.
All homes in Scarlet Croydon will be enabled with the latest fibre to the home (FTTH) technology, compliant with the national broadband network strategy (NBN) and can provide services such as telephone and high-speed broadband.
Croydon is also serviced by a network of bus, rail and road routes, including nearby Mooroolbark and Croydon railway stations.  The development is near Eastland and Knox Shopping Centre, as well as EastLink.
This townhouses range in size from 17 square metres to 24.5 square metres.
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Three Croydon townhouses left in Silvan as June 30 deadline draws nearer

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I first worked in the property business selling villa plots on the island of Menorca in the Spanish Balearic Islands. I was 18 years old then and full of teenage enthusiasm. It didn’t work out.  The company went bust, and I lost my job. I was devastated. I had worked so hard.
Not long after I met the owner of a big real estate agency in England and he said, “Come and join us.” He gave me a one-way airline ticket from Menorca to London to start my new employment. They collapsed within a year, and I lost my job again.
When I was 20 years old I got another job with a company in London named Marcus Leaver, which wanted to start a business in Spain. It was very cold winter that year in England and I spoke Spanish, so I grabbed it.
The year was 1974 and General Franco was still the dictator in those days. The Australian Embassy in Madrid at the time needed a new office and engaged me to find one. I never did, but became great friends with the ambassador at the time.
Marcus Leaver went bust in Spain; so I joined the British Army for a while, did my bit and left for the lucky country in 1982.
In the late 1980s I was sales manager at Andrew Gibbons Real Estate in Sydney’s Double Bay. Our crowning glory in those days was the sale of the famous Point Piper waterfront home Paradis Sur Mer (also known as Toison d’Or) for $19.2 million. I later worked for Colliers International and set up their Prestige Homes &amp; Holdings Division. Here is a quote from an article written then: "Tim Mansfield, of Colliers, is confident that come September, when the spring flowers bloom, people will put their property on the market again. Trouble is they have to buy somewhere else."
Years later I worked in Dubai as sales director of a well-known property development company. What happened? It went bust after the bubble burst there in late 2008. 
I have failed many times in my life, but I am not a failure. We all fail at one time or another along our path in life. We all make mistakes, and that is part of being human.
My own failures are where I went wrong in life,  like stepping stones along the way. You can fail on your own, or you can fail with the help of others when you go through life.
If you are blessed by having a family – a partner and children you love and they love you – hold onto them forever.
You can go bankrupt; you can nearly starve to death and live on cold and windy streets under lamplights. Even then you can retain your dignity.
Life is not all about money. It is about your kindness to others without judgement. It is about words of encouragement to keep them going. It is about holding another person’s hand in yours, and a hug or a kiss that makes you feel that special bond that holds us all together.
At the end of the day who can judge better if I failed or not? Those that helped or those that put me down along the way?
It is only me who can be the final judge. I am the one who knows the real things that I did to help others in life and never said.
There are three things you can do. Nothing else really matters:
<ol>
<li>Help others</li>
<li>Never give up on your dreams</li>
<li>Don’t let people put you down</li>
</ol>
 Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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Booms and busts are a natural part of real estate – and life: Tim Mansfield

<html><body>Australian Property Monitors (APM) has released a list of results from 165 auctions in Sydney for the weekend of June 9. The clearance rate was 50.3%. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 165 Sydney auction results show 50.3% clearance rate

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“Let’s buy an investment apartment” – now I am not really sure how many times I have overheard or been part of a discussion when this suggestion has entered the conversation.
With the financial meltdown of 2008 and the current wobbly state of many European economies the notion of any sort of investment has taken on new meaning. It’s reasonable to suggest that in the minds of many private investors it is security that is the main aspiration. How real estate will emerge over the long term is not yet clear, but I see continued evidence that investing in real estate is still a very popular idea.
Over the next few posts I am going to go over how reaching the private investor fits into the project marketing mix.
There is little doubt that Australians are generally attracted to property, and while they are not alone, they like it and understand it. It fits many lifestyle aspirations, and it’s a tangible asset.
The tax system encourages real estate investment and there are lots of options, including some new ideas, like adaptive apartments, to enter the market and with care the track record holds up well.
While individual circumstances will always be diverse for many people after the family home is under control, another financial goal is frequently to own an investment property. This can also be a preference that works in reverse where the acquisition of one or two investment properties can become the leverage to buy your own home.
The fact that the taxation system allows negative gearing, which can allow a tax deduction for investment losses, is frequently seen as a major influence. It’s a policy that is sometimes seen as having a harmful impact on housing affordability.
However, while negative gearing is a factor in the property investment market, according to a survey undertaken by the Australian Bureau of Statistics only 15.7% respondents noted negative as a key motivation to invest.
Target investors as a first base understanding
The figures are a little out of date (as last year’s census is yet to be released), but an estimated 28% of Australian households occupy rental accommodation, 22% of which is private investment stock the other 6% being public housing. This current figure indicates are large market for investment properties, and the stock is held by approximately 590,000 individual owners.
Investors by any measure play a major part in the housing market, and as a result they will always be an important and critical target market that needs to be reflected in the project marketing mix.
 
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However, while the appeal of particular projects could either encourage or conversely have limited appeal among investors it is important to have an insightful understanding of the target market. To assume that only owner-occupiers or mainly investors will be attracted to a particular project is too one-dimensional.
This is a particular need for full consideration in “transitional areas” where the demographic mix is in a state of change, such as inner city, fringe or former industrial areas that are being reshaped by development activity.
The ABS survey I mentioned earlier noted that investors highlighted the following as key pointers to their property investment evaluation:
<ul>
<li>Long-term investment</li>
<li>negative gearing</li>
<li>the generation of income</li>
<li>a future home</li>
<li>capital gains</li>
<li>unable to sell and family reasons</li>
</ul>
As the target market is defined it may well be clear that some buyers might also not be long-term investors, they might buy and then hold a property until their individual lifestyle circumstances change as they may have a plan to lease the property and then move into the property in the future.
Clearly what appeals to this target demographic is much more complex than might at first be apparent.
Their aspirations may not become apparent until your marketing team is some way down the sales path.
Projects that are very attractive to the investment community may well have particular needs and in some locations it will be necessary to engage the attention of the investment advisory community.
I think that it is safe to suggest that the appeal of direct property investment is a constant influence that many projects need to take into consideration. Some investors will always have a particular attraction to property despite the ups and downs of prevailing economic conditions.
The question is: is it necessary to undertake highly targeted marketing to reach this group of potential buyers?
In some cases the answer will be yes.
Before looking at what could be done to have direct appeal to investors, it is worth keeping in mind a very simple consideration. And that is the need for all marketing to be fashioned to appeal to the eventual person who will live in the project being promoted.
At the most fundamental level, why people are attracted to live in a particular property and location will be universal. The services, location, facilities and transport will be more or less of equal appeal.
However what will be different is the cost and the ability to afford a particular property, both as a purchase and as a rental option.
From a marketing perspective, what I suggest is that in very particular cases marketing does not need to be tailored only to appeal to investors.
There are exceptions and this would include the use of highly targeted investment media where the tone of material would need to address the specific environment.
For example, if marketing were to be placed in a particular media that only has an investor audience then the value attributed to the specific use of that media needs to be reflected in content.
At a particular stage of the sales path investors will require specific resources, such as depreciation schedules as one example, to be added to the mix of marketing material.
There may also be some more detailed work devoted to how a particular has grown when it comes to capital gains. However, once again this is not only the preserve of investors, almost any buyer will have an eye to past and possible future capital gains.
In any marketing plan, the potential impact of investors should show up in the early demographic assessment. 
Peter Chittenden is managing director for residential of <a target="_blank" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International</a>
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Sometimes a marketing campaign will be different if a project is targeting investors

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Lower costs for mortgages, car finance and credit cards suit households, but business owners might see it differently. Sure, a lower cash rate means a lower cost of capital. But a rate reduction means the RBA is forecasting some hits to the Australian economy and is reducing the cost of money so that the economy will keep breathing when these threats materialise.
From a business owner’s viewpoint a weakening economy translates to fewer orders, less work, lower revenues and reduced business activity. A reduction in interest rates means a slowing economy.
This puts our business community in a nervous state, which is no good. I would make two points about the current situation. Firstly, while the RBA’s rate reductions of 0.75 percentage points in two months means there’s a potential slowdown on the way, the Aussie economy is actually very strong.
We have low unemployment by the standards of developed economies, our currency is strong, we have very low government debt as a percentage of GDP, and our biggest trade partners are developing nations, whose economies are forecast to grow rapidly.
Perhaps our greatest strength and weakness is our cash rate. At 3.5%, it is significantly higher than comparable economies such as Canada, US, eurozone and Japan, which have cash rates ranging from 1% to effectively zero.
Australian business owners face higher capital costs than their global counterparts. However, the strength of this higher interest rate policy is that the central bank in Australia has the room to stimulate the economy by monetary policy rather than by inflationary fiscal stimulus.
The central banks in other developed economies have already reduced their official rates to rock bottom – their only economic stimulus option is now fiscal, and some of them are simply printing money to achieve this.
The second point is that the RBA can force interest rates to go as low as it requires.
The major banks’ variable interest rates were in lock-step with the RBA during the Howard and Rudd governments, but this no longer occurs. This creates volatility, which feeds into one of the most important factors influencing business owners: sentiment.
Sentiment can turn an economy for better or worse, and business owners generally have stronger sentiment when they feel the certainty to make informed decisions. This is particularly the case when it comes to borrowing to expand, the lifeblood of economic growth.
Even when official interest rates were rising through 2010 and 2011, business owners could make a decision about capital costs based on the Reserve Bank.
It worries me that Aussie business owners will hesitate because they don’t know what official interest rates mean to banks’ rates.
Perhaps the Reserve could look at changes of 0.3 or 0.4 percentage piont, in order to shift variable rates to where they have to be?
With 2.7 million business owners in this country, the last thing we should be doing is confusing them about the cost of money.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance. He runs a <a target="_blank" href="https://twitter.com/#!/markbouris">Q&amp;A session on Twitter</a> every Monday afternoon at 4pm for small business owners using the hashtag #bizQandA.
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Falling interest rates helps households but hurts business

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Not everyone was expecting the RBA to further ease the cash rate when its board met last week.
Some felt the board would simply "keep its power dry", and just wait to see how the outcome of the June 17 election in Greece unfolded.
Some economists like Saul Eslake of Merrill Lynch felt that the $2.5 billion of cash payments by way of government compensation for the carbon tax would serve as "enough stimulus" for now.
But maybe, such thinking took too simplistic a view of things.
Despite the RBA's fears of an underlying growth in wages, monthly inflation figures have sunk to zero. Furthermore, the corporate sector confidence had also slumped.
However, the tipping point was probably the trading losses suffered on Monday this week on the stock exchange — wiping off around $26 billion in value.
Maintaining your perspective
While international conditions may have softened, local share investors nonetheless appear to have overreacted with their interpretation of the likely effect for Australia. And what the RBA is desperately trying to do is interrupt the cycle of negative consumer confidence.
As you will recall, one of my recent articles explored in some detail Australia's underlying growth prospects, low unemployment, healthy financial system and solid investment pipeline.
And this would appear to now be validated by the solid GDP figures released last week, confirming the state of our economy.
Bottom line: The RBA's decision last Tuesday should give commercial property investors even more encouragement.
The shrewd money already seems to be viewing the current turn of events as purely a severe dampening of local confidence.
And once the switch clicks across to "positive", the anticipated surge in consumer activity will reward those who have based their plans on the underlying fundamentals , rather than unwarranted fear.
Therefore, as a commercial property investor, you need to fully satisfy yourself that everything is as you are being led to believe.
If not, you're missing out on genuine opportunities by "running with the herd". And last week's decision by the RBA should serve as a wake-up call for all commercial property investors — because rates will now be on hold for the foreseeable future.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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