<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.

Joel Robinson

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

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

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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SQM Research has expanded its normal list of the most discounted homes in Australia from 10 to 20, demonstrating the wide variety of localities where vendors are offering deep discounts in order to secure sales. The majority of the properties on the list are houses, not units, with SQM saying houses are not faring as well on the market and requiring deeper discounts. 
The most discounted property in Australia is 27 Shaws Pocket Road in Cedars Creek, Queensland, and the vendor is now willing to sell the property for $699,000, a 41% discount on its original price hopes. It was last sold in 1996 for $225,000, according to RP Data. 
Coming in at number 20 is 309 Scarborough Beach Road in the Perth suburb of Woodlands. When the property came on the market in early 2010 the vendor had hoped for $1.1 million but is now willing to settle for $750,000, a 32% price reduction. 
The property at 1302 Birkdale Place in Magenta, on the NSW central coast, has been on the market for the longest, at 1,432 days, or almost four years. Vendors of 47a Burns Crescent in the Sydney suburb of Chiswick have been the quickest to offer a deep discount, as the property has only been on the market for 77 days and has had its price hopes reduced by 35%. 
"As you can see, there is a wide range of properties from various locations, with Victoria and the ACT being the only state and territory with no homes on this week's list," says SQM director Louis Christopher.
"What sticks out on this list and many of our other themed top 10 is that the majority of massively discounted properties are houses, rather than units. It does seem that in general, houses are faring worse than units at the moment. This could be because units are more affordable and it is easier to assess fair value due to their more standardised attributes." 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">1</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009160249">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: 280
 
<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 target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106542744">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: 727
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">3</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008435199">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: 693
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">4</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%3D105812631">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: 1,042
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Greendale/?adid=2008766488" target="_blank">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: 490
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228" target="_blank">15 Gretel, Two Rocks, WA, 6037</a> (pictured)
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 875
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307" target="_blank">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: 1,099
 
 
<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%3D2007217761">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: 1,432
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008590367">21 Fox Avenuem White Beach, Tasmania, 7184</a>
On the market since: September 27, 2010
Initial asking price: $170,000
Current asking price: $110,000
Reduction: 35%
Days on market: 603
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</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%3D105464925">99 Lowanna Way, Armadale, WA, 6112</a>
On the market since: April 1, 2009
Initial asking price: $1.85 million
Current asking price: $1.2 million
Reduction: 35%
Days on market: 1,144
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">11</h2>
<a href="https://www.realestate.com.au/property-house-nsw-chiswick-109782261" target="_blank">47a Burns Crescent, Chiswick, NSW, 2046</a>
On the market since: March 3, 2012
Initial asking price: $3 million
Current asking price: $1.95 million
Reduction: 35%
Days on market: 77
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">12</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009417474" target="_blank">320 Redbank Plains Road, Bellbird Park, Queensland, 4300</a>
On the market since: December 19, 2011
Initial asking price: $1,499,000
Current asking price: $975,000
Reduction: 35%
Days on market: 154
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">13</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106358770" target="_blank">27 Light Avenue, Munno Para West, WA, 5115</a>
On the market since: February 27, 2010
Initial asking price: $482,687
Current asking price: $319,000
Reduction: 34%
Days on market: 812
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">14</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%3D107430484">319 West Coast Drive, Trigg, WA, 6029</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 861
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">15</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106977238" target="_blank">618/ 85 -89 The Entrance Road, The Entrance, NSW, 2261</a>
On the market since: November 13, 2010
Initial asking price: $299,000
Current asking price: $199,000
Reduction: 33%
Days on market: 553
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">16</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D109729176" target="_blank">12 Underwood Street, Wakerley, Queensland, 4154</a>
On the market since: March 3, 2012
Initial asking price: $675,000
Current asking price: $450,000
Reduction: 33%
Days on market: 77
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">17</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D7361321" target="_blank">890 Chinner Road, Lake Bennett, NT, 0822</a>
On the market since: October 29, 2011
Initial asking price: $579,000
Current asking price: $390,000
Reduction: 33%
Days on market: 203
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">18</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008640526" target="_blank">13/30 Gayundah Esplanade, Woody Point, Queensland, 4019</a>
On the market since: October 24, 2010
Initial asking price: $590,000
Current asking price: $399,000
Reduction: 32%
Days on market: 574
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">19</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491" target="_blank">22 Beach Street, White Beach, Tasmania, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $170,000
Reduction: 32%
Days on market: 1,421
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">20</h2>
309 Scarborough Beach Road, Woodlands, WA, 6018
On the market since: February 7, 2010
Initial asking price: $1.1 million
Current asking price: $750,000
Reduction: 32%
Days on market: 832
SQM Research also offers a list of the <a title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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cknowlton-QnEa6ntUYP

Houses, not units, require most discounting: SQM Research

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As quantity surveyors, we’re often telling investors that there are more depreciation deductions available within a unit than a house of similar age and finish. Of course depreciation is just one part of property investment and shouldn’t be the driving reason to choose one investment over another, but I want to look at why a unit returns more depreciation deductions.
Residential units tend to be constructed to a more compact floor plan or layout, rather than the larger open spaces property investors would expect to see within a residential dwelling or house. The cost to build per square metre increases with a compact construction layout, due to more infrastructure (walls, services, etc) and less open spaces than commonly seen within houses. This can make a significant difference to the overall claim, but is not the major reason why residential units will return greater deductions.
In short, the answer is that it’s all about common property.
Most investors are aware that they can claim deductions on the building structure of their unit (subject to age) and the plant and equipment items within such as blinds, carpets, ovens, range hoods and the like. However, many investors aren’t aware that they can claim deductions on the common areas as well.
Unit developments are all different, but generally the more units there are within a development, the more common property there is likely to be. Common property includes things like:
<ul>
<li>Basements</li>
<li>Entry foyers</li>
<li>Foyers and corridors on each level</li>
<li>Barbecues and pool areas</li>
<li>Driveways</li>
</ul>
Now that’s just the building components. You’ve also got the associated plant and equipment items. The list is far more expansive, but some of the more common items include: 
<ul>
<li>Air-conditioning</li>
<li>Automatic gate motors and controls</li>
<li>Barbecue assets</li>
<li>Carpet</li>
<li>Door closers</li>
<li>Emergency warning and intercommunication systems (EWIS)</li>
<li>Fire control assets</li>
<li>Fire extinguishers and hoses</li>
<li>Furniture, freestanding</li>
<li>Garbage compacting systems</li>
<li>Garden watering installations</li>
<li>Generators</li>
<li>Gym assets – cardio and resistance</li>
<li>Hand dryers, electrical</li>
<li>Hot water systems</li>
<li>Intercom system assets</li>
<li>Lifts</li>
<li>Lights</li>
<li>Master antenna television assets (MATV)</li>
<li>Security and monitoring assets</li>
<li>Swimming pool chlorinators</li>
<li>Ventilation fans</li>
</ul>
This is just a sample of some of the plant and equipment items you might find in a unit development.
But how are investors entitled to claim deductions on common property and how does it work?
It’s now all about the strata plan. When you purchase a unit, you’re purchasing a particular lot within a strata plan. A strata plan shows the building on the land, the lots making up the plan and the common property.
Each lot is given a unit entitlement, which is shown on the strata plan.  The amount of the unit entitlement varies depending on a number of factors, such as the size of the lot.  Unit entitlements regulate what proportion of the total annual budgeted levies will be paid by each lot owner.  Unit entitlements also can regulate voting strength at meetings if the value of the votes is required.  Unit entitlements also provide the entitlement that the owner has to claim over the common areas. For example, if there 50 units within a strata plan, the unit entitlement might be something like 1/50.
Using this ratio of 1:50, let’s consider the potential depreciation deductions in this case study.
The total common area written down value is estimated to be $3.5 million.
The total estimated value of common plant and equipment items is $68,000.
The calculation for the building structure in the first full year is $3.5 million x 2.5% x (1/50).
This results in $1,750 per year worth of deductions on the common building(s).
Plant and equipment items all deprecate at different percentages but will normally be somewhere around 20% on average. So using this as an example, the calculation would be; $68,000 x 20% x (1/50), which equates to $272 in the first full year.
Adding the plant and equipment to the depreciation on the building gives us a figure of $2,022 in a single year on just the common areas.
This calculation also ignores some of the legislation that enables you to maximise the depreciation on plant and equipment items such as the ability to claim 100% of the value of all assets under $300 in total, within the year of acquisition.
The extra value that common property depreciation deductions add to the overall claim can be significant, and investors should ensure that they’re claiming deductions on every asset that they’re entitled to claim over.
While high-rise unit developments will return the most common property deductions, even strata-titled villas with a shared drive way and perhaps some solar garden lights will attract deductions on the common areas.
Be sure to contact a tax depreciation quantity surveyor for more information on how to maximise your claim on common areas.
Mike Mortlock is a director of <a href="https://www.mcgqs.com.au" target="_blank">MCG Quantity Surveyors</a>, providing residential and commercial tax depreciation services to property investors.
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Why more depreciation deductions are available for units than houses

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The Australian economy expanded by an extraordinary 1.3% in the first quarter of 2012 in seasonally adjusted terms, smashing consensus expectations of a 0.6% rise (with Goldman Sachs at just 0.2%). Only one forecaster, ANZ, got anywhere close to the number with a 1% guess. The fourth-quarter GDP results have been revised up from a weak 0.4% to a relatively more normal 0.6%.
The annual year-on-year rate of economic growth in Australia was a way above trend 4.3% in the March quarter, versus the 3.3% expected by economists. This is truly incredible. On the basis of the ABS National Accounts data, the droves of analysts who claimed Australia was growing at a "sub-trend" or "modest" pace, including the RBA, were way wrong. Despite the very high Australian dollar, the economy has been booming. Crucially, this also includes consumer spending.
One of the most important drivers of Australia's above-trend economic growth over the last year has been household consumption. In seasonally adjusted real terms, household consumption rose by a stonking 1.6% in the March quarter alone, and by 4.2% on a year-on-year basis. Household consumption is now running significantly above the 3.6% per annum long-term average since 1959.
Importantly, the GDP data reconciles with the stubbornly strong labour market data – at least as it has been reported thus far (we wait for an update tomorrow, which is expected to be weak).
The RBA has evidently cut rates three times when it did not need to. On the basis of this information, the RBA's "insurance" rate cuts in December 2011, May 2012 and June 2012 were totally unnecessary. As I have regularly argued here, the harangued Australian central bank has been doling out free "insurance" when it did not need to, and has punished hard-working Australian savers in preference to less prudent borrowers. Of course, it has been happy days if you have had a variable rate mortgage, as more than 90% of residential borrowers do!
Yesterday I wrote that if I were running the RBA I would not have cut in December, would have only cut once in May, and would not have cut in June. I have been a fairly lonely voice in arguing that there was no need to slash rates, and that RBA risks over-engineering policy. That domestic growth was not in desperate need of interest rate support as so many analysts claimed.
Expect to see boatloads of spin explaining Australia's official economic growth data. It is a profound embarrassment for the many doomsayers who have incorrectly misled us to believe that Australia was experiencing a household spending recession, that the economy was on the brink of collapse, and that only ultra-low interest rates held out hope for saving our bacon.
Perhaps most significantly, today's economic growth data, combined with the labour market data over the last 12 months, proves once and for all that the RBA's monetary policy settings over 2010 and prior to November 2011 were spot-on.
Christopher Joye is a leading financial economist and a director of <a target="_blank" href="https://www.ybr.com.au/savings/index.cfm">Yellow Brick Road Funds Management</a> and Rismark. The author may have an economic interest in any of the items discussed in this article. These are the author’s personal views and do not represent the opinions of any other individual or institution. This material is not intended to provide, and should not be relied upon for, investment advice or recommendations.
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The RBA has cut rates three times when it didn't need to: Christopher Joye

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Low interest rates have kept demand for fixed-rate home loans at high levels, according to May mortgage processing figures from Mortgage Choice and AFG.
However, the broker figures also show that the May rate cut encouraged more borrowers to take out variable-rate products, suggesting that demand could rise if most of yesterday’s official rate cut is passed on by the major banks. 
According to Mortgage Choice spokesperson Belinda Williamson, the June rate cut and forecasts of further rate cuts could make variable-rate home loans even more attractive to borrowers. 
“Stronger demand for variable rate home loans is likely to be at the expense of fixed-rate loans,” she says. “More borrowers may choose variable over fixed, in at least the short term, as they become even more comfortable with variable rate loan pricing. In May, Mortgage Choice data suggested that borrowers found comfort in lenders’ decisions to pass on the majority of the rate cut savings. “On the flipside, fixed rate loan uptake levels could be influenced by increasingly attractive fixed-rate loan pricing. In recent months, some lenders dropped their fixed-rate loan pricing to below 6%,” Williamson says. As at June 4, 2012, the average three-year fixed-rate loan interest rate, based on lenders on the Mortgage Choice panel, was 6.28%, one-year was 6.14% and 5-year was 6.69%. "Borrowers will be wise to weigh up the benefits of further rate cuts against the affordability and security of fixed rate loan pricing," says Williamson.
Official ABS data on demand for fixed rates lags two months behind rate decisions (May housing finance data will only be released in July), with April showing 15% of borrowers choosing a fixed-rate product, the highest level in four years. 
So the May results from the two mortgage broking businesses – which combined write around one in five home loans in Australia – provide a good estimate of current consumer appetite for fixed-rate loans.
Mortgage Choice May figures show a small drop in fixed-rate demand in May, though fixed rates still account for one in five home loans written by its brokers.
This is below the six-month average (22.5%) but above the 12-month average (19%). 
Mortgage Choice highlighted that fixed-rate demand fell marginally, despite a number of lenders dropping their fixed-rate pricing below 6% in May. 
The Greater Building society offers a three-year fixed rate of 5.79% while seven lenders (Commonwealth Bank, ING Direct, ME Bank, CUA and Aussie, Citibank, IMB Building Society) offer a three-year fixed rate of 5.99%. 
The May Mortgage Choice figures show that basic variable mortgages were the only product category were demand rose over the month, up from 14% to 17% of all mortgages – above the 12-month average and at a nine-month high. 
According to Williamson, basic variable mortgages “tend to be more affordable but less flexible with fewer features at the borrower’s disposal”. 
“The increased interest in basic variable rate loans, which is now at a nine-month high, could signal a return to the market by first homebuyers, as these loans tend to be more popular with lower income and less experienced borrowers who are still finding their feet in home loan market.”
Click to enlarge
<a href="/images/stories/2012/06/mcjune6.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/06/mcjune6thumb.jpg"></a>
Similar to Mortgage Choice figures, close to one in five home loans written by AFG brokers in May was for a fixed-rate product. 
For AFG brokers, standard variable loans proved most popular with borrowers – accounting for 59% of all loans processed over May – up from 57.5% and rising for the second straight month having fallen from January to March.
According to Mortgage Choice May figures the biggest increase in variable-rate loan demand was recorded in SA (up 12%, to 85%), followed by NSW (up 4%, to 77%), WA (up 1%, to 79%) and Queensland (up 1%, to 74%). 
The only state to buck this trend was Victoria, where the popularity for variable-rate loans dropped by five percentage points, to 86%. 
Ongoing discount-rate loans – where the interest rate is discounted over the entire loan term, usually in exchange for an annual fee – made up 40% of all variable-rate loans approved in May. This was in line with April, but slightly below the six-month and 12-month average of 41%.
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Low interest rates keep fixed mortgage demand high, but popularity of basic and standard variable products rising: Mortgage Choice and AFG

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The marketing launch of the third tower in the $2 billion Central Park precinct in the inner-Sydney suburb of Chippendale has generated a quick 100 sales grossing about $60 million.
<img src="/images/stories/2012/06/themark4.jpg">
The sales in The Mark take the total off-the-plan sales of the urban renewal project to 800 amid the 1,400 apartments in the three towers now under construction.
<img src="/images/stories/2012/06/themark6.jpg">
It’s been at the rate of about 40 off the plan sales a month for the entire project since sale began.
Property developer Frasers has the Japanese property development firm Sekisui House as its joint developer on the 5.8-hectare, mixed-use site.
Works began in late 2008, and completion of the project is expected to take about eight years. One Central Park, which is due for completion by mid-2013 to a design by French architect Jean Nouvel, was the first building to begin construction. It has recorded the sale of 523 of its 623 apartments for a $409 million total, and Park Lane, the second tower has secured the sale of 195 of its 393 apartments for a $134 million total, according to Adam Sparkes, the group sales manager at Frasers Australia.
With prices starting at $480,000 The Mark is set to be a 27-storey tower, with 412 apartments designed by architects Johnson Pilton Walker.
<img src="/images/stories/2012/06/themark5.jpg">
 
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Frasers Australia chief executive Guy Pahor says the current NSW stamp duty exemption on new dwellings under $600,000, which is due to expire on June 30, has “galvanised” some buyers.
“Strong sales in the sub-$600,000 price point are clearly motivated by the imminent deadline,” he suggests.
“We have yet to hit buyer fatique,” he says, with the aim that all 1,400 apartments in the main three towers will be sold by the time The Mark is completed in early 2014. Construction on The Mark began before its sales marketing campaign.
“We believe in the Sydney story of undersupply,” he says, adding it took “courage and conviction” to proceed in the face of “negative newspaper headlines”.
“There is no reason for the sales rate to change. But am I paranoid it might change? Yes.”
{qtube vid:=1Ydtj__5EL8}
While noting Sydney was not likely to record a rise in property prices over the next 12 months, Pahor indicated he was expectant Central Park would continue to maintain its consistent sales momentum.
With the Fraser brand well known in international property markets, The Mark also attracted $15 million worth of sales in one recent weekend in Singapore.
Only 25% of Central Park’s sales have been offshore.
The project with include several low rise apartments taking the total to about 2000, along with 77,000 square metres of commercial space, 23,000 square metres of retail space and 2,000 parking spaces.
It will accommodate about 2,500 residents and 5,400 workers.
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Frasers-Sekisui House Central Park sales quick off the mark, with 100 bought in third tower

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Tasmanian Liberal Senator David Bushby has joined the chorus of voices opposed to the government doubling the withholding tax rate to 15%.
The tax is charged on income foreign investors earn when they invest in Australian managed investments schemes, many of which fund large property and infrastructure projects.
Since the increase was announced in the budget, <a href="https://www.propertyobserver.com.au/tax/lend-lease-slams-15-withholding-tax-as-property-council-fails-to-convince-wayne-swan-to-scrap-it/2012053154915" target="_blank">the Property Council of Australia, Lend Lease and the Financial Services Council</a> have all slammed the decision, saying it will scare off foreign investors, but they have failed to sway Federal Treasurer Wayne Swan.
“The government’s policy reversal on a tax critical to foreign capital inflows sends the wrong signals,” wrote Bushby in a letter published in the Australian Financial Review today.
“Investment banks will reassess investments in listed property and other assets, and advise their clients of lower than expected future returns from Australia.
“For Australian investors who hold wealth and retirement assets in listed property and infrastructure assets, the withdrawal of foreign capital will only add downward pressure on share prices – and cause retirees even more grief,” he wrote.
Bushby accused the federal government of raising the tax without public reviews or industry consultation.
However, he failed to mention that under John Howard’s Coalition government the withholding tax rate stood at 30%.
It was cut to 7.5% by the Rudd government in July 2010.
The federal government has played down suggestions that the latest tax hike will scare off foreign investors.
Tony McDonald, general manager of Treasury’s international tax and treaties division, told a government committee there would be no “flight of capital” though he acknowledged that some transactions would not take place due to the higher tax rate.
He also said the impact of the tax hike on the economy would be “fairly minimal”.
McDonald made his remarks while giving evidence to the House of Representative Standing Committee on Economics earlier this week as it met to consider the withholding tax increase (as contained in the Income Tax Amendment Bill) and other new pieces of legislation.
According to Treasury estimates, the tax increase will bring in additional revenue of $260 million over the next four years.
Also giving evidence, Martin Codina, director of the Financial Services Council, claimed lost investment would be much higher than the increased tax revenue.
He claimed as much as $1 billion in investment had already been lost while goodwill generated by the low tax rate would also be lost.
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Tasmanian Liberal senator joins chorus against doubling of foreign investor tax – but keeps quiet on Howard-era 30% tax rate

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The Brisbane housing market is starting to experience the benefits of the resources boom but the Gold Coast remains one of the “worse performing markets,” says CBRE in its second quarter south-east Queensland market view report. 
The report notes that the Sunshine Coast housing market continues to struggle – though not to the same extent as the Gold Coast market – with both coastal markets not seeing much benefit from the mining boom in central and northern Queensland.
Click to enlarge
<a href="/images/stories/2012/06/cbrejune6.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/06/cbrejune6thumb.gif"></a>
CBRE mortgage valuations regional director Tom Edwards says the Gold Coast is clearly a buyers’ market, with slow conditions still prevailing. 
“The Gold Coast remains one of the worst-performing residential markets in Australia, with oversupply in the unit market a major issue,” he says. 
“The oversupply of prestige apartments is still the biggest issue on the Gold Coast, with a lack of active buyers in this sector,” says the report.
The Sunshine Coast faced similar conditions in the second quarter, though the value decline was not as steep. Some signs of increased activity were recorded in the quarter in the lower price brackets, but these markets remain overwhelmingly soft. 
“The prestige market, particularly in Noosa, is still trending down, with agents reporting very low levels of buyer interest,” says Edwards. 
The report says that these two markets are under pressure from low levels of buyer confidence, with sales volumes continuing to trend downwards. 
Illustrating clearly the uneven effects of the mining boom on regional property markets, recent figures released by the Real Estate Institute of Queensland (REIQ) for the March quarter show Gold Coast house prices down 5.1% to a median of $454,000. 
In comparison, house prices in the resource-rich Isaac region are up 28% to a median of $703,000 over the same period. 
Brisbane house prices improved 1.2% over the March quarter, according to the REIQ, to a median of $505,000, but are still down 4.7% over the past year. 
The REIQ says the March quarter result indicates the Brisbane housing market has turned a corner, with “positivity finally returning to the market”. 
However, according to CBRE the improvements in Brisbane have not been sufficient to indicate an increase in capital housing values in the state. 
“Improvements have been identified for properties within a 15-kilometre radius of the Brisbane CBD, though activity is still confined to realistically priced property,” says CBRE global research and consulting associate director Sam Reilly. 
“In some instances, back-up contracts are being sighted by valuers indicating some proven levels of demand that have also been illustrated by reduced selling periods." 
However, tough operating environments remain in areas that are not exposed to the benefits of the resource sector such as the Gold Coast and Sunshine Coast. 
CBRE says that Queensland, while remaining a state that is showing strong prospects courtesy of the huge expansion in the mining sector, is experiencing significant challenges in other sectors. 
Challenged sectors include tourism, manufacturing and construction. 
However, CBRE expects the mining boom to provide longer-term opportunities for the state including in terms of jobs and infrastructure improvements. 
Further west, the Toowoomba market continues to record historically low sales volumes, but buyer sentiment has improved as a result of the change in state government and interest rate reductions, says CBRE. 
According to Edwards, the short- to medium-term outlook for the overall south-east Queensland market is likely to continue remain segmented, with scheduled growth proportionate to resources proximity.
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Brisbane property market recovering but Gold Coast still struggling: CBRE

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Despite yesterday’s media headlines to the contrary, the world didn’t end.  I am still breathing.  How about you?
So instead of Armageddon; Europocalypse; Death by Keen or something similar, we all seem to get by.  The Henny Pennys seem to have survived the farmer’s axe once again, only to live another day of worry.  Yesterday’s lacklustre 0.25 percentage point cut in the cash rate will no doubt have them all in a spin.
Well, stuff them all – today is something special.  It is an opportunity to take some time to reflect; an early New Year’s Day so to speak.
Today, for most Australians the Transit of Venus will be visible with Venus appearing as a black spot moving across the sun from 8.16am to 2.44pm.
Big deal?
Well it won’t be back until 2117 – yep, 105 years from now.  And just reflect for a few moments how much effort man used make to observe and measure this astronomical event – Captain Cook et al.
Today we have a free iPhone app to watch it, but somehow that isn’t the same as gazing upwards in wonder about where we, and it, are all going.
We humans seem to underestimate the good things and overvalue the utter rubbish.  And what we spend much of our time on these days, for mine, is increasingly plain bunkum.
So in this frame of mind – even more delicious given it is mid-week and all – here are my anti-bunkum things.
Rating agencies
Isn’t it about time that the real world turned its back on the self-serving, hypocritical, attention-grabbing, politically motivated vacuum heads called ratings agencies: Standard and Poor’s, Moody’s and Fitch?
Surely, there must be some other source of advice of this nature available from less biased, conflicted and publicly discredited sources than these, who often seem to be at the centre of conflagrations of their own making.
Daily and even monthly indexes
Top of the list is house prices.  Prices-schmices.  What is the fascination with regular property price indices? Give it a rest guys, you need to be in it for the long haul.  Frankly it is all just white noise.
And in fact, what is measured is also plain bunkum.  The median or average price – regardless of when or how frequently it is measured, or on what geographic scale – will have no bearing on what your property is worth or how much you should pay.
Reality TV
I mean come on!  Reality my backside, what with five camera angles; metal screws in Bear’s handmade bamboo ladder; planning a meal in five seconds after being told the two key ingredients, etc.  And everyone in the house watching it on their own plasma, computer or Apple TV.
Give me a board game any day of the week.  Or better still, a good book, although I am quite partial to Seinfeld &amp; NYPD Blue re-runs – and I could re-watch The West Wing series anytime.
But if you are going to watch something on the idiot box, get everyone at home involved.  Whatever happened to the Sunday night family movie?
Air-conditioning
Oh, what crap it is.  Yes, it helped make Singapore and other Asian centres what they are today, and helps make living in the tropics more bearable.  True, too, it creates white noise – the good kind this time – to help one live downtown.
But give me a fireplace in winter and a big hat over my house (overhang for those youngins who haven’t seen an eave) in summer.  In fact, a fire makes a bloody good replacement for the TV too.  Nature’s own entertainment and a friend in the bush.  Oh, how far we have strayed from the things that are really important, well at least from what many older boomers commute halfway around the country for.  They might be onto something there.
Modern cuisine
Fancy food, lots of silly names and service as “cold as Christmas” as the saying goes.  Give me a home-cooked meal like Mum still makes, and dish me up some decent service, a smile and a whole lot of personality and I will be back with my family and friends every time.
And when at home, the simple meals are often the best – toasted cheese sandwiches; home-made pizzas on the Weber; eggs (with Belle’s bacon of course) on toast; tomato soup with crusty bread – and all hassle free, everyone relaxed and eating together.  And yes, even in front of that elusive Sunday movie on TV.
Modern living
I am an analogue man.  Joe Walsh’s new album out later this week – just two sleeps left Australia – is titled such.  Yes, I use Apple everything but not all the time.  When I get home – it helps when the actual service at home is lousy – it is everything off until the next day.
Why not take a bath, have an afternoon nap (and on both Saturday and Sunday) or sit in the sun for a good while every now and then?  Go see your adult children rather than Skype or text them.  What is all the rush about?
Yes, I know it is easier said than done but what, if anything these days is the Transit of Venus actually good for?
iTunes
Now we are getting on some shaky ground here.  Moving into some bloody murky waters, Michael, given the amount of music I download from Apple.  But I never download a single, always the whole album.  In fact I don’t like the term album – music, as Jackson Browne often discusses on stage, is a record – a record of events of that time or place.  Good records resonate with many listeners; great records resonate deeply with you.
I often listen to Born to Run; Late for the Sky; Blue Valentine or Bella Donna, to name just a few, in their entirety; almost always by myself, in the quiet and often in the bath.  Candles glowing and incense burning if you must know.  Right now I am quite into lemongrass stink sticks.
Gutless
Yes, I am talking to you, Anonymous.  Bloggers who aren’t prepared to give their full name when replying get treated as spam on my blog.  Have the guts to stand by your convictions.  All we have, when it is said and done, is our name.
In an increasingly post, post, post-modern world showing one’s face is a rare thing.                                                        You of course have your own list.  And if you don’t maybe today might be a good one to start one.
As you read this blog this morning, I won’t be rushing to work.  This Transit of Venus will be my last and I won’t be wasting it.
So it’s goggles on folks and look up at your own peril, and don’t complain to me if you find what you are looking for.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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S&P, Moody’s and Fitch self-serving, attention-grabbing vacuum heads

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The prestige market was somewhat subdued this week, with no sales cracking the $3 million mark, according to RP Data.
A five-bedroom 1930s Kew property that sold prior to auction for $2,836,000 was the top sale of the week. It was marketed by Marshall White agent Walter Dodich, who says it has been “stylishly renovated and updated to accommodate the demands of a contemporary lifestyle”.
The home, on an 1,190-square-metre block, last sold in 1999 for an undisclosed price.  
<img src="/images/stories/2012/06/william.jpg">
The second most expensive sale of the week was the three-bedroom penthouse of the Montage building in Double Bay with harbour views (pictured above). It sold for $2.75 million.
1. 4 Royston Court, Kew, VIC, 3101, five-bedroom house, sold before auction on June 2 by Marshall White Real Estate for $2,836,000
2. 45/51 William Street, Double Bay, NSW, 2028, three-bedroom unit, sold on June 1 by Di Jones Real Estate Woollahra for $2.75 million
3. 92 Morris Street, Williamstown, VIC, 3016, four-bedroom house, sold at auction on June  2 by Williams Real Estate for $2,692,000
4. 687 Park Street, Brunswick, VIC, 3054, five-bedroom house, sold at auction on June 2 by Peter Markovic Real Estate Fitzroy for $2.65 million
5. 14 Bangalla Street, Warrawee, NSW, 2074, six-bedroom house, sold before auction on May 31 by L J Hooker Wahroonga for $2.56 million
6. 19 Yanko Avenue, Bronte, NSW, 2024, five-bedroom house, sold before auction on June 2 by Raine &amp; Horne Double Bay for $2.5 million
7. 86 Stanhope Street, Malvern, VIC, 3144, three-bedroom house, sold at auction on June 2 by R T Edgar Toorak for $2,405,000
8. 46 Burns Crescent, Chiswick, NSW, 2046, four-bedroom house, sold at auction on June 2 by Raine &amp; Horne Concord for $2,401,000
9. 4 Goldsack Street, Glen Osmond, SA, 5064, four-bedroom house, sold at auction on May 30 by Smallacombe Real Estate Burnside for $2.4 million
10. 12 Saywell Street, Chatswood, NSW, 2067, five-bedroom house, sold at auction on June 2 by Shead Property for $2.28 million
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No $3 million sales, with five-bedroom Kew home top sale of the week: RP Data

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The Reserve Bank could easily have sat on its hands for a while longer and waited to see how the crisis within the eurozone and the slowing of China’s economy plays out before following up last month’s 50-basis-point cut to the cash rate. The fact that it didn’t signals its concern about the conditions both offshore and within the domestic economy.
The 25-basis-point cut announced today takes the cash rate back to where it was in November 2009, when the world was emerging from the nadir of the original financial crisis and within a single 25-basis-point move of the low point of that cycle in official rates. That provides a useful barometer of the current economic and financial climate.
There were a number of reasons why the RBA shouldn’t have cut today.
The new Greek elections on June 17 are likely to be another flashpoint in the eurozone crisis. European leaders are trying desperately to put together a new (some cynics might say ‘first’) ‘’masterplan’’ to escape a eurozone implosion. China is trying to rekindle growth.
Within the Australian economy we’ve yet to see the full impact of last month’s 50-basis-point reduction in official rates (less what the banks retained), or the impact of the Gillard government’s latest $2.5 billion cash splash or the recent significant decline in the value of the Australian dollar.
There was also, <a target="_blank" href="/news">as discussed previously</a>, the issue of preserving as much of the RBA’s diminished capacity to stimulate as it could in case the eurozone does blow up.
There were, therefore, reasons why deferring a move until both the global and local circumstances became a bit clearer might have been a rational decision.
Yet the RBA decided to move, albeit by a modest 25 basis points, which will probably end up being slightly less than that after the banks have trimmed it to offset their increased funding costs. By itself, 25 basis points, or whatever ultimately flows through to households, isn’t going to turnaround the increasingly defensive sentiment of consumers.
That says that the RBA is concerned. It is worried about Europe. It is worried about China. It is worried about the domestic economy. As it should be.
Europe is a basket case and has, as the RBA noted, the potential to generate shocks that would be transmitted through the global financial system and economy. Issues of fiscal sustainability (the eurozone’s fiscal settings can’t be sustained) and its under-capitalised banking system represents a severe threat to global economic and financial stability.
The US is experiencing anaemic growth and faces a shock of its own next January, when the withdrawal of the Bush administration’s tax cuts and mandatory cuts to government spending will yank about $US7 trillion out of its economy, probably forcing it back into recession.
China’s attempt to stamp out a property-centric bubble has been successful, perhaps too successful and it is now, in a year when its leadership will change, trying to rekindle its growth rate.
Its slowdown, and the reality that Europe and the US – approaching half the world’s GDP and China’s two biggest markets – are under continuing pressure has impacted commodity prices, and the Australian dollar and placed a question mark over the uncommitted slabs of what had been a $500 million-plus pipeline of resource project investments in this economy. It hasn’t helped, of course, that the costs of developing those mining projects have been blowing out at a greater rate than almost anywhere else in the world.
The RBA noted significant variations between sectors of the Australian economy, while saying there had been modest growth in the first part of 2012. It also referred to ‘’job shedding’’ in some industries (which appears to be accelerating in the non-resource segments of the economy) and the ‘’precautionary’’ behaviour of households and businesses. (The imminent carbon tax got only a passing reference in relation to its technical impact on inflation rather than its psychological, and real, impact on households and businesses).
After last month’s rate cuts the actual lending rates for borrowers were slightly below their long-term averages but demand for credit remains low as households and businesses continue to deleverage. Despite the cut, house prices – which had been stabilising – have resumed their decline.
The litany of woe and worry and the likelihood that the banks will hang onto at least a sliver of the 25 basis points was, if anything, an argument for a 50-basis-point cut.
The 25 basis points could suggest a bet each way – preserving firepower, keeping the stimulatory impact (once the banks have taken their share of the reduction) modest, seeing whether the weakening of the dollar alleviates some of the pressures on the industrial economy and awaiting anxiously the denouement of the eurozone crisis that the Greek election and Spanish banking crisis might provide.
This article originally appeared on<a target="_blank" href="https://www.businessspectator.com.au/"> Business Spectator.</a>
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