ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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?

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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GUEST OBSERVATION
The previously unregulated short-term letting industry in NSW has just seen some big changes and investors are being warned to watch out. Regulations to Airbnb were going to happen eventually, but on Tuesday the wheels were finally set in motion.    The game changer that has occurred and why Airbnb now only makes sense for home owners and not investors.     Airbnb are going back to their grass roots in NSW.   Originally the platform was set up for people who wanted to rent out some spare rooms in their own home as an alternative to backpacker accommodation for travellers, thus allowing home owners to make some spare cash.   The Airbnb platform has since been exploited and has become the short-term accommodation platform for investors to maximise profits.   Without proper regulation and no barriers to entry this has resulted in many complaints from local communities and a need for government and other regulators to step in.   Regulators have stepped in and the regulations are being deemed as "the toughest laws in the world to crack down on bad behaviour” by Better Regulation Minister Matt Kean for good reason.   Many investors are left screaming “what about our returns” but I've been cautioning Airbnb investors for many years on investing in a new to market concept that has always been very unregulated.     If you're going to invest hundreds of thousands into an industry in its infancy, you need to have an appetite for risk and be prepared that it may not last long.   Investors should have assessed their numbers based on long term rentals as well and ensured they were still able to afford their investment, without a supplementary Airbnb income.   We saw so many people jump on the band wagon without really understanding the risks associated with it.   This might only be rolling out for Sydney at the moment, but it is setting a benchmark for other locations to follow. Councils like Byron Bay have been threatening tighter regulation in this sector for a while now and are also heading down this path.    The regulations follow other countries like Japan where in recent weeks only 13,800 properties were left on the platform after an estimated 68,000 properties removed almost overnight when regulatory changes came into play.    The market has seen an oversupply of property in many locations resulting in downward pressure on pricing and Airbnb hosts having to take lower fees to avoid vacancy and bigger group bookings to make up the numbers.    Don’t think that this is exclusive to Airbnb, this will impact all short-term accommodation platforms ‘like Airbnb’ but the likes of stays and <a href="http://bookings.com/">bookings.com</a>will also come under the same scrutiny.   The property market, in Airbnb hotspots will see more properties being taken from the short-term rental market and moved over to long term leases and even some investors pulling the pin altogether as a follow-on effect from the regulation.   Some investors will not want to conform with the legislation and will have to put their property on the market, as many of the properties are set up as rentals only and not in an area that the owner of the property resides.   Some property owners simply can’t adapt and will have only two options, a long-term lease with significantly lower returns, or to sell.   The policy is set to be reviewed in 12 months’ time.   This regulation really only starts to scratch the surface of some of the issues in the short term letting sector. Many property owners are renting out rooms or whole homes without consideration given to the safety of the occupants.   We see many properties that are not compliance with fire regulations, pool safety, building codes, railing heights on balcony’s, and many other safety hazards that put occupants, including families with children at risk. If you rent our a property on a long term lease, or you are a commercial hotel venture you need to be compliant. But this sector of the DIY hotel space has continued to circumvent their obligations to other peoples safety. It wont be long before this too comes into the spotlight, and so it should.
Anna Porter is a property commentator and valuer at <a href="https://suburbanite.com.au/" target="_blank">Suburbanite</a>. 
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jrobinson-rf4aSBido9

Here's what Airbnb's whirlwind changes mean for investors - and it sucks

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Frasers Property Australia’s Discovery Point estate has been designed to encourage an outdoor lifestyle for residents and their dogs.
Nigel Edgar, the general manager Residential NSW at Frasers Property Australia, says the dynamic of the family was changing.
So new communities needed to meet evolving needs.
“Discovery Point reflects our emphasis on building communities for residents and their families, including their precious pets, to create an inclusive environment for families of all shapes and sizes to enjoy,” says Edgar.
“Pets are a very important part of peoples’ lives and we’re consciously building our communities to encourage pet owners to feel welcome.”
“Walking around the community with your pet not only does great things for your health, it helps you meet other residents. You’ll even find most coffee shops have a water bowl for dogs.”
For residents Jane and Roger, living in a pet friendly community was a must when looking for their new home.
“Our little 13-year-old dog has adapted to apartment living well. We take her down to the park every day soshe can do her own thing,” says Jane.
Jane says it’s nice to see the community thriving with other residents and their dogs too.
“Quite often, I’ll look onto the park and notice about 30 people playing with their dogs. You can tell they’rehaving a good time just being outside.”
With nine hectares of parklands at Discovery Point, Jane, Roger and their dog like to make the most of the surrounding walkways up the Cooks River.
There are a limited number of apartments remaining for sale at Discovery Point.
In Marq, the two remaining three-bedroom apartments offer views over expansive parklands.
They are priced at $1,135,000 and $1,150,000.
In Icon, the final residential building planned for Discovery Point, there are only three remaining three- bedroom apartments available, which boast park and Cooks River views and are priced between $1,210,000 and $1,335,000.
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j.ballantyne1990-6AQqhLzZaK

Pet friendly developments triggers dogs at Discovery Point

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Sydney's north-west corridor has suffered the greatest decline in apartment values since their peak, according to data from Corelogic shows.
Re-sale prices of apartments have dropped 19% compared with their original selling prices at different times of their peaks over the boom over past few years. 
Apartments in the Hills and Hawkesbury area in the north-west corridor of Sydney peaked last year.
The downturn has impacted on new and established apartments.
Recently a three bedroom unit in a 1990s building at <a href="https://www.realestate.com.au/sold/property-house-nsw-baulkham+hills-127841946" target="_blank">4/32-38 Linton Street</a> in Baulkham Hills sold for $790,000, having traded six months ago for $820,000.
A nearby two bedder in a newer 2016 block at <a href="https://www.realestate.com.au/sold/property-apartment-nsw-baulkham+hills-127440366" target="_blank">110/1 Meryl Avenue</a> (top) recently fetched $690,000, down on its $728,000 off the plan sale in 2014.
<img src="https://pbs.twimg.com/media/DezG1M2UYAEqLZE.jpg" alt="" data-aria-label-part=""> 
"While values may have bottomed for now there is still a lot of new unit stock to be completed over the coming years which could create more downwards pressure on values over time despite the stronger conditions recently," Corelogic senior analyst Cameron Kusher told The Australian Financial Review.
"I'd suggest it will take a long time for unit values in that region to recover back to their previous peaks," Kusher said.
"At their peak the median value of a unit in the Baulkham Hills and Hawkesbury region was in excess of $900,000 when you consider the distance from the city centre and the fact that house values are not that much more expensive it is not really a surprise to see large unit value falls in that region."
Apartment developers have flocked to the northwest region buoyed by the construction of the new Sydney metro, a fast train that runs as far as 50 kilometres from the CBD.
As for standalone houses, since the peak of their prices in July last year, prices in Sydney's inner city, inner south such as Alexandria, Waterloo and Zetland and the inner west such as Balmain have fallen between 10 to nearly 14%.
Values of standalone houses in North Sydney and the northern beaches have come down between 7 to 9%.
House prices in the eastern suburbs have fallen nearly 5% since last July.
Apartment values in Sydney overall, however have held strong mainly because of its affordability, Corelogic says.
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Baulkham Hills and Hawkesbury apartment values tumble 19% off peak pricing

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A Chinese syndicate has paid $39.4 million for Mornington Village as the yield for shopping centres in Victoria approaches 5%.
The syndicate of Chinese investors purchased it on a 5.26% yield.
According to CBRE agent Mark Wizel, the centre was making $2.071 million per annum.
The centre contains holds several large contracts including Woolworths and Aldi.
The two level, 7963 square metre (GLA), neighborhood centre, is the fifth neighbourhood centre to be sold the past two months through CBRE’s Retail Investments team, making a total of just under $180 million at on average 5.09% yield.
Mornington Village last sold in January 2014 for $25.8 million on a yield of 7.47%.
Wizel said vendors were confident of getting a good price for their asset while purchasers were buoyed by strong population growth to various parts of Victoria,
He noted the retail assets in high demand were those that had underlying land value with development upside.
He said the national average trend for neighbourhood centres remained above 6% in the year to March, according to CBRE’s Australia Retail Q1 2018 report.
"Eighteen months ago yields for this retail asset class were approaching 6 to 6.5% and they have now firmly settled on an average of marginally above 5% and that is a reflection of the peculiar characteristics of the Victorian market,’’ Wizel said.
<a href="https://www.propertyobserver.com.au/images/2018/6/6/Screen%20Shot%202018-06-06%20at%2010.36.35%20am.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2018/6/6/Screen%20Shot%202018-06-06%20at%2010.36.35%20am.png" alt="">
Dowers said the residential population growth factor along with tourism had driven a string of retail investment sales on the Mornington Peninsula in recent years attracting a broad range of purchasers including institutions, syndicates and private investors.
A strip of retail properties sold recently for just over $6 million, exceeding its reserve price of $4.9 million, as seven buyers contested the 2229sq m 671-677 Point Nepean Road, McCrae offering.
The three leases to retailers Kobi Jacks, Alatonero and Merchant Maker café were recently renewed for five years.
A local investor bought the property across two titles at a yield of 3.6%.
Recent sales include Hastings Central Shopping Centre purchased by Henkell Brothers for $32.1 million.
Bentons Square half-share purchased by Vicinity Centres for $38.25 million.
Bunnings Warehouse Hastings purchased by a local syndicate for $15.16 million
Somerville Mall purchased by a private investor for $42.05 million.
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Chinese syndicate pays $39.4 million for Mornington Village

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Melbourne has the strongest housing market, when it comes to retaining boom time gains, according to CoreLogic.
Since its peak last November, the harshest hit property are standalone houses in inner, inner east and inner south Melbourne.
It is where prices have declined between 4 and 6.1%.
Elsewhere across Melbourne both houses and unit prices have fallen no more than 3%.
<div data-image-url="https://pbs.twimg.com/media/De4dqmhVQAAcSSr.jpg" data-element-context="platform_photo_card" data-dominant-color="[10,49,64]"><img src="https://pbs.twimg.com/media/De4dqmhVQAAcSSr.jpg" alt="" data-aria-label-part=""></div>
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Inner Melbourne apartment holding value after market peak: CoreLogic

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An overseas investor has snapped up a childcare centre in Bentleigh East.
The <a href="https://maps.google.com/?q=359-361+Chesterville+Road,+Bentleigh+East&amp;entry=gmail&amp;source=g" title="">359-361 Chesterville Road, </a>offering in bayside Melbourne sold for $5.6 million just after auction.
It has a new 20-year lease with options to childcare operator Think Child Care.
The 451 square metre building on a 1184 square metre sold on a 5.85% yield.
Savills Australia's Julian Heatherich, Benson Zhou and Mark Stafford secured the sale for a private investor.
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Bentleigh East childcare centre sold for $5.6 million 

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Armadale is set for a new luxury development, on one of its most prestigious streets.
Orrong, named its prominent position on Orrong Road, is a bespoke collection of nine luxury townhouse residences.
Designed by local architecture firm David Watson Architect, each townhouse has three bedrooms, two bathrooms and space for two cars.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/26/Armadale%202.jpg" alt="">
A variety of floorplans are on offer. Some emphasize indoor and outdoor entertaining, while others provide flexibility and privacy.
The townhouses complete with Roger Seller bathrooms range from $2.15 million to $3 million. Some have rooftop terraces.
The median house price in Armadale is $2.05 million with apartments having a $630,000 median, according to CoreLogic.
The 1350 sqm double block traded in 2016 when it was offered as one. On the site has been two two level houses, each comprising five and six bedrooms.
Castran Gilbert South Yarra agent Tim Brown is marketing the properties off the plan.
For more information on Orrong, <a href="http://castrangilbert.com.au/jrea_listing/527-orrong-road-armadale-vic-3143-1395306/" target="_blank">click here.</a>
We have a free ebook on <a href="https://www.propertyobserver.com.au/component/content/article?id=82173" target="_blank">property investments in Melbourne. </a>
<div class="h5"> </div>
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Armadale set for luxury townhouse project Orrong

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A South Yarra apartment has been sold for $315,000 by mortgagees after spending over a year on the market.
The one bedroom apartment in a 2012 block was leased for $389 per week in 2016.
It last traded for $434,000 in 2012.  
Lan Williams and Steven Lee from Dixon Kestles secured the sale.
<a href="https://www.realestate.com.au/sold/property-apartment-vic-south+yarra-128088158" target="_blank">The 1601/50 Claremont Street</a> apartment features the modern kitchen, secure entrance, swimming pool, gym and comom area facilities. 
Located in Inner Melbourne, it is close to schools, shops and transport.
The suburb's median unit price sits on $577,000, according to CoreLogic. 
 
 
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South Yarra one bedroom apartment sold by mortgagee

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Mortgage Choice has strongly refuted allegations in the media that its current franchise model encourages poor behaviour or practices.
 The company has robust compliance processes and credit policy controls in place that franchisees are required to adhere to, Susan Mitchell, CEO of Mortgage Choice said.
 “Our franchisees are very diligent and want to do the right thing for their customers. 
"We take any allegation of fraudulent behaviour extremely seriously and we have a very thorough and structured compliance regime in place.  
<iframe src="https://www.youtube.com/embed/PX1QGbvt4z8" frameborder="0" width="360" height="365"></iframe>
 “The wellbeing of our franchisees is our number one concern. We provide any business owner experiencing hardship with personalised support, including from our field-based teams. 
"We are well progressed in consulting with franchisees on a new remuneration model that will help them to succeed and invest in growing their businesses.”  While Mortgage Choice believes brokers in the network still highly value the services the company provides, it acknowledges that the balance between services offered and remuneration provided needs adjusting.  Mortgage Choice is in advanced discussions with franchisees and is aiming to have a new remuneration model in place by August 2018.   Mortgage Choice is not subject to any legal action, the broker pointed out.
The broker issued a video. 
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Mortgage Choice denies franchise model encouraged poor lending practices

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<div class="column">EXPERT OBSERVATION</div>
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<div class="column">The record economic expansion is well into its 27th year. The Australian economy grew by 1.0 per cent in the March quarter after growing by an upwardly-revised 0.5 per cent (previously 0.4 per cent) in the December quarter – the equal best quarterly growth rate since December 2011. Annual economic growth rose from 2.4 percent to 3.1 per cent – the strongest growth rate in 21 months.</div>
<div class="column"> </div>
<div class="column">The biggest contribution to growth came from net exports (+0.4pp), government consumption (+0.3pp), household consumption (+0.2 pp), dwelling investment (+0.1pp), non-dwelling construction (+0.1pp). Private equipment was flat. The only drag on growth came from public investment (- 0.1pp).</div>
<div class="column"> </div>
<div class="column">Real gross national income rose by 1.7 per cent in the March quarter to be up 2.4 per cent on the year. In nominal terms GDP increased by 2.2 per cent in the quarter and rose by 3.9 per cent over the year.</div>
<div class="column"> </div>
<div class="column">Gross value added per hours worked in the market sector rose by 1.0 per cent in the March quarter, but was down by 0.1 per cent on the year. Hours worked in the market sector fell by 0.2 per cent in the March quarter, but was up by 2.4 per cent on the year.</div>
<div class="column"> </div>
<div class="column">Thirteen of the 19 industry sectors expanded in the March quarter. Strongest growth was by Administration and Support Services (+3.0 per cent), Mining (+2.9 per cent) and Manufacturing (+2.4 per cent). Agriculture, forestry and fishing (-1.7 per cent) and Accommodation and Food Services (-1.3 per cent) recorded the biggest falls in output. Two sectors both added 0.2 percentage points to GDP growth and six sectors each added 0.1 percentage point to GDP growth. Only one sector detracted 0.1 percentage points.</div>
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<div class="column">Click here <a href="https://www.propertyobserver.com.au/images/2018/6/6/Commfigure1.jpg" target="_blank">to enlarge.</a>
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<div class="column">What does it all mean?</div>
<div class="column"> </div>
<div class="column">The Aussie economy is in rude health. Economic growth rebounded during the March quarter, recording the equal best quarterly growth rate since the December quarter of 2011. Annual growth lifted to 3.1 per cent, the best growth rate in almost two years.</div>
<div class="column"> </div>
<div class="column">We share the Reserve Bank’s view that growth will be stronger this year than last year. The economy is tipped to grow by “a bit above 3 per cent” in 2018 and 2019.</div>
<div class="column"> </div>
<div class="column">Aussie economic activity is being supported by still-firm household consumption, strong government spending on public transport-related and infrastructure projects and a pick-up in LNG exports. Business inventories also lifted during the quarter.</div>
<div class="column"> </div>
<div class="column">Today’s national accounts also highlighted that the drag from the end of the mining construction boom is receding. Growth in exports accounted for half of the quarterly uplift in growth. The mining sector and commodity prices are continuing to recover due to firm demand from China.</div>
<div class="column"> </div>
<div class="column">The Reserve Bank has reiterated that household consumption remains a “key uncertainty” for the economic outlook. While today’s contribution was mildly positive, developments in the housing market, where home prices in Sydney and Melbourne are falling, will need to be monitored closely. And household debt remains elevated.
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Overall, we need to see economic growth stay near 3 per cent levels and the unemployment rate below 5 per cent to see sufficient tightening of the labour market to generate upward pay pressures on employers before interest rates can lift.
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What do the figures show?
The Aussie economy rose by 1.0 per cent in the March quarter after lifting by an upwardly-revised 0.5 per cent in the December quarter. It was the equal strongest quarterly growth rate since the December quarter of 2011.
The economy grew by 3.1 per cent over the year to March – the strongest annual growth rate in 21 months. Growth has averaged 2.6 per cent over the decade and averaged 2.8 per cent over the last 15 years.
The non-farm economy rose by 1.1 per cent in the March quarter after increasing by 0.6 per cent in the December quarter. Annual growth stands at 3.6 per cent.
Farm GDP fell by 1.9 per cent in the March quarter after declining by 1.8 per cent in the December quarter. Farm GDP fell by 14.9 per cent over the year.
At current prices, GDP rose by 2.2 per cent in the March quarter after 0.9 per cent increase in the December quarter. Annual growth stands at 3.9 per cent. As at March 2018, the Australian economy was valued at $1,815 billion.
The biggest contribution to growth came from net exports (+0.4pp), government consumption (+0.3pp), household consumption (+0.2pp), dwelling investment (+0.1pp), non-dwelling construction (+0.1pp). Private equipment was flat. The only drag on growth came from public investment (-0.1pp).
In terms of domestic price pressures, the household consumption implicit price deflator rose by 0.6 per cent in the March quarter after increasing by 0.6 per cent in the December quarter. Annual growth stands at 1.6 per cent. Real non-farm unit labour costs fell by 1.6 per cent in the March quarter after increasing by 0.5 per cent in the December quarter. Real non-farm unit labour costs rose by 1.1 per cent over the year.
Gross value added per hours worked in the market sector rose by 1.0 per cent in the March quarter, but was down by 0.1 per cent on the year. Hours worked in the market sector fell by 0.2 per cent in the March quarter, but was up by 2.4 per cent on the year.
The only data available is state final demand (more accurate data would include net exports but it is not available for all states and territories). In the March quarter, growth was strongest in Tasmania (up 2.0 per cent), Victoria (up 1.9 per cent), NSW (up 0.7 per cent) and Queensland (up 0.5 per cent). State final demand fell in South Australia (down 0.2 per cent), ACT (down 0.8 per cent), Western Australia (down 1.1 per cent) and in the Northern Territory (down 2.0 per cent).
Consumer spending lifts. Household spending rose by 0.3 per cent in the March quarter to be up 2.9 per cent for the year. Only four of the 17 sectors recorded weaker spending in the quarter. Spending rose most for Electricity, gas and other fuel (up 2.3 per cent) and Communications (up by 1.5 per cent). Spending fell most for Alcoholic beverages (down 2.0 per cent) followed by Hotels, cafes and restaurants (down by 1.8 per cent).
Thirteen of the 19 industry sectors expanded in the March quarter. Strongest growth was by Administration and Support Services (+3.0 per cent), Mining (+2.9 per cent) and Manufacturing (+2.4 per cent). Agriculture, forestry and fishing (-1.7 per cent) and Accommodation and Food Services (-1.3 per cent) recorded the biggest falls in output. Two sectors both added 0.2 percentage points to GDP growth and six sectors each added 0.1 percentage point to GDP growth. Only one sector detracted 0.1 percentage points.
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Other points:
Profit share rises. In seasonally adjusted terms, the ratio of profits to total factor income rose from 27.0 per cent to 27.8 per cent in the March quarter. The wages share fell from 52.9 per cent to 52.4 per cent.
Household savings ratio falls. The household saving ratio fell from 2.3 per cent in seasonally adjusted terms to 2.1 per cent in the March quarter – the lowest level since December 2007. In trend terms household saving rose from 2.1 per cent to 2.2 per cent.
Imports rose as a share of spending. The imports to sales ratio rose from 0.390 in the December quarter to 0.397 in the March quarter.
The inventory to sales ratio fell from 0.610 per cent to 0.603 per cent in the March quarter.
What is the importance of the economic data?
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The quarterly National Income, Expenditure and Product release (national accounts) from the Bureau of Statistics is an assessment of Australia’s economic performance. Detailed estimates are provided on incomes (wages, profits), spending (such as household, dwelling investment and trade (exports and imports) and production. Other data includes household saving and the economic performance of States and Territories. The main use of the national accounts figures is as a historical record of economic performance. The information has little forward-looking value for currency, interest rate or share markets. 
What are the implications for interest rates and investors?
Australia’s record-breaking expansion continues. Importantly, economic growth is strengthening. After a below- par level of activity, largely due to weather disruptions to our export sectors in 2017, output rose back above long- term trend levels in early 2018.
The year has begun strongly with the equal best quarterly growth in output for over six years. And the annual growth rate is near the best in two years. The Reserve Bank is tipping annual growth of 3.25 per cent in 2018. We appear to be on track, though its early days.
Productivity continues to be a key focus and is a necessary ingredient to lift sluggish wages growth. And extra workers taken on by business need to start adding to output. Pleasingly, levels of productivity broadly picked-up over the quarter and year, despite remaining below long-term trend levels.
While the business sector is humming along nicely at the moment, complemented by the fiscal expansion from the government’s infrastructure projects, close attention will continue to be paid to the household sector. Home prices are falling for the first time in five years. Victorian and NSW households are still spending. But consumption remains weak in the mining states. Also, Aussies are drawing down on their savings in the face of weak income growth and rising cost of living pressures. But this may be a sign of confidence in the jobs market.
Employee compensation grew by 1.2 per cent in the March quarter, supported by rising company profits, up by 5.2 per cent – a trend that needs to continue in order to see wages lift sufficiently to boost inflation and interest rates. CommSec expects no change to official interest rates until February 2019.
Ryan Felsman is a senior economist at CommSec.
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