Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Joel Robinson

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.

Online shopping has become one of the clearest examples of that change.

Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.

For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe>

Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.

The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.

For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.

Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."

[smartcode_project:default project_id=134323 project_image_fid=367129]

Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.

Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.

[smartcode_project:default project_id=134323 project_image_fid=6402]

The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.

[smartcode_project:default project_id=134323 project_image_fid=6383]

The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.

Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

First look: Rainbow Serpent inspires bold new Gosford apartment tower

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

<html><body>
<a href="/developers/macquarie-york">Macquarie York’s</a> exciting new development <a href="/buildings/allure-chevron-island-1-northcliffe-terrace-surfers-paradise">Allure</a> will see a 17-storey luxury residential tower constructed on the beautiful Chevron Island in Surfers Paradise.

<h2>Elegant + sophisticated design</h2>

Designed by award-winning Gold Coast firm <a href="/architects/bda-architecture">BDA Architecture</a>, the landmark tower will stand proudly in the geographical centre of the island. The design features a two-storey street-level atrium with elegant communal spaces, followed by 95 apartments rising up the centre of the tower and crowned with a rooftop terrace, sheltered with an expansive wooden canopy. The rooftop features a luxurious resort style residents lounge, BBQ area and infinity pool, providing residents with palatial areas to entertain, relax and unwind.

The neutral palette creates a modern canvas for buyers to add their own personal stylistic touches, while the kitchen has been designed using organic materials such as raw natural timber, paired with opulent stone accents.

<blockquote>
“Ambitious in execution and extravagant in vision, this landmark development will stand as the ideal address for a suburb on the move.”
</blockquote>

Darren Greenaway, Director BDA Architects

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/allure_entry_slideshow.jpg" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="227" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/allure_entry_slideshow.jpg?itok=8Xfl2z0S" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/allure_project_image.jpg" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="599" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/allure_project_image.jpg?itok=RWS3SmcD" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/residences-home.jpg" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="346" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/residences-home.jpg?itok=ETmTM-tm" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><h2>Year-round holiday living</h2>

On offer are two &amp; three-bedroom apartments (some units may include additional multi-purpose rooms), with a 2-bedroom apartment starting at a reasonable price point of $495,000. Each property has been designed to make the most of the spectacular views of the Gold Coast city skyline, Broadwater and the Hinterland. The refined opulence of Allure is showcased through the use of minimalist open spaces, with top quality fixtures and fittings, and timeless design. Wellness facilities, including the infinity pool and gym, give residents the opportunity to relax, unwind and live a healthy and active lifestyle. Residents are able to spend summer evenings enjoying al fresco dining on the rooftop deck, embracing the relaxing lifestyle Allure Chevron Island has to offer.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/67e297b86e91153f2e18123ea4c446e8.jpeg" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="326" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/67e297b86e91153f2e18123ea4c446e8.jpeg?itok=JFZNgoTT" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/allure.jpeg" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="351" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/allure.jpeg?itok=H8A_ovUb" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><h2>Infrastructure upgrade = value upgrade</h2>

In addition to Allure’s fantastic selection of on-site amenity, just 500m away is Home of the Arts (HOTA), which will be even more accessible once the $19 million green bridge connecting Chevron Island to the precinct is completed late October 2019. HOTA has recently undergone a $390 million upgrade, making it one of the city’s most exciting new cultural hubs to date.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/01-hotaoutdoorstage-aaronpoupard.jpg" rel="gallery-all" title="HOTA Arts Precinct"><img alt="" class="image-article-full-width-580px" height="202" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/01-hotaoutdoorstage-aaronpoupard.jpg?itok=3jqtLdU3" title="HOTA Arts Precinct" width="580"></a>

<figcaption>HOTA Arts Precinct</figcaption></figure>To add to the convenience of Allure, a ferry service trial will begin in December this year, giving Chevron Island residents access to the whole coast.

<blockquote>
“Chevron Island is a hidden gem offering a unique village lifestyle only a short stroll to the famous Gold Coast beaches. With the current infrastructure and future plans, Chevron Island is transforming into the cultural hub of the Gold Coast and becoming one of the most desirable places to live.”
</blockquote>

Campbell Van Tongeren, Macquarie York Project Sales Manager

<h2>Prime location at a competitive price point</h2>

Centrally located in the heart of Chevron Island, Allure is positioned within walking distance to the sandy beaches of Surfers Paradise, the Southport Golf Club, Gold Coast Turf Club, Pacific Fair Shopping Centre, and a great range of public transport options, bars and eateries. As well as being able to enjoy a quiet village lifestyle, Allure is still only minutes away from many vibrant retail precincts, just 7 minutes from Griffith University, 4 minutes to the G:Link Station, and an hour’s drive from Brisbane CBD.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lifestyle-hero.jpg" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="346" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/lifestyle-hero.jpg?itok=zPD5Omk3" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-07-08_at_2.59.12_pm.png" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="375" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-07-08_at_2.59.12_pm.png?itok=9qrWU65t" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2019-07-08_at_2.58.59_pm.png" rel="gallery-all" title="Allure Chevron Island. Credit: DBA Architecture"><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2019-07-08_at_2.58.59_pm.png?itok=gfj2Je52" title="Allure Chevron Island. Credit: DBA Architecture" width="580"></a>

<figcaption>Allure Chevron Island. Credit: DBA Architecture</figcaption></figure>Interested to learn more? Enquire about <a href="/buildings/allure-chevron-island-1-northcliffe-terrace-surfers-paradise">Allure Chevron Island</a> today.
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Olivia Round

Discover Allure Chevron Island: Resort-style luxury living from $495,000

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As property trends shift and evolve, it's important for developers to constantly keep up with what buyers want. <a href="/developers/lowe-living">Lowe Group</a> Managing Director Tim Lowe had a chat to Apartments.com.au about the buyer requests of 2019, and more specifically, how the concept of "off-the-plan" is shifting to another form of "building your own home" thanks to the response to customer demand for customisation.

Apartments.com.au: Given the success of <a href="/buildings/lumiere-black-rock-68-bluff-road-black-rock">Lumiere</a> Black Rock’s record sales, what do you believe were the stand out features which set the development apart from other properties within the Black Rock area?

Tim Lowe: The contemporary nature of architecture and our partnership with the internationally renowned design partner, Warren and Mahoney, allowed us to create a building that had a rich story behind it whilst also being contemporary and fitting with the area. Further to that, the features being the offering, single-level two and three bedroom apartments with large outdoor areas. Whereas Black Rock is typically renowned for two-level townhouses and large single homes. So it gave an additional opportunity for our downsizer demographic.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lowe2004_black_rock_v07_garden_to_living_low.jpg" rel="gallery-all" title="One of Lumiere's expansive outdoor courtyards. Image credit: Lowe Group"><img alt="One of Lumiere's expansive outdoor courtyards. Image credit: Lowe Group" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/lowe2004_black_rock_v07_garden_to_living_low.jpg?itok=Cf-tCFds" style="width: 580px; height: 290px;" title="One of Lumiere's expansive outdoor courtyards. Image credit: Lowe Group"></a>

<figcaption>One of Lumiere's expansive outdoor courtyards. Image credit: Lowe Group</figcaption></figure>U: How do you go about discovering what buyers want in an apartment? What kind of research is involved?

TL: We can confidently say we have a clear understanding of our demographic (downsizer). Firstly, we assess the market by understanding our buyer is a downsizer and they would be looking for an apartment that does allow them to release some equity from their existing home. Therefore we are very considerate about price point and providing varying floorplan considerations, for example at Lumiere we offered 6 unique floorplans each one tailored to suit different buyers and financial provision. Lowe Living also has a rich history working with this demographic and we frequently engage with our clients across all our projects to get feedback, in particular from our customisation/personalisation services, to ensure the next projects include the items they’re typically requesting.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/g.01.png" rel="gallery-all" title="Residence G.01"><img alt="" class="image-article-full-width-580px" height="262" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/g.01.png?itok=nE1jkvfv" title="Residence G.01" width="580"></a>

<figcaption>Residence G.01</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/g.02.png" rel="gallery-all" title="Residence G.02"><img alt="" class="image-article-full-width-580px" height="255" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/g.02.png?itok=Uqn6ZnIh" title="Residence G.02" width="580"></a>

<figcaption>Residence G.02</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/g.03.png" rel="gallery-all" title="Residence G.03"><img alt="" class="image-article-full-width-580px" height="607" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/g.03.png?itok=KGXMZWX4" title="Residence G.03" width="580"></a>

<figcaption>Residence G.03</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1.01.png" rel="gallery-all" title="Residence 1.01"><img alt="" class="image-article-full-width-580px" height="335" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1.01.png?itok=2nQkGvdW" title="Residence 1.01" width="580"></a>

<figcaption>Residence 1.01</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1.02.png" rel="gallery-all" title="Residence 1.02"><img alt="" class="image-article-full-width-580px" height="248" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1.02.png?itok=KBph5xxh" title="Residence 1.02" width="580"></a>

<figcaption>Residence 1.02</figcaption></figure><figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1.03.png" rel="gallery-all" title="Residence 1.03"><img alt="" class="image-article-full-width-580px" height="506" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1.03.png?itok=T1sYruPb" title="Residence 1.03" width="580"></a>

<figcaption>Residence 1.03</figcaption></figure>U: In what ways have apartment characteristics and features changed, and how much of that is influenced by economic, societal and environmental factors?

TL: In the areas in which we play (broader Melbourne, in particular, Bayside), apartments were typically tailored to the first home buyer and investor with limited amounts of amenity and lifestyle. Now we are tending to find that because of that ageing demographic and the capital growth that people have seen in our areas with their existing home, we are finding a more considered buyer who is more particular on quality of amenity (larger master suites, walk-in robes, home-style kitchens, fireplaces, sense of entry), access to ground floor, private open space and high-quality finishes and finishes. Our demographic is also taking the opportunity to move closer to the epicentre of the community with easy access to local shops and cafes/restaurants.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lowe2004_black_rock_v02_living_g03_low.jpg" rel="gallery-all" title="Living area in one of the Lumiere residences. Image credit: Lowe Group"><img alt="Living area in one of the Lumiere residences. Image credit: Lowe Group" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/lowe2004_black_rock_v02_living_g03_low.jpg?itok=1XA9XaNU" style="width: 580px; height: 299px;" title="Living area in one of the Lumiere residences. Image credit: Lowe Group"></a>

<figcaption>Living area in one of the Lumiere residences. Image credit: Lowe Group</figcaption></figure>U: In your opinion, which design choices and additional features add the most value to a development?

TL: Firstly, the uniqueness of the project design. For our buyer, key design choices include flexibility of living spaces and be able to cater for large family gatherings on an infrequent basis. We ensure the areas that are most frequently used within the apartment – kitchen, master suite, living and dining – assimilate the level of amenity that they’re accustomed to in their larger homes but providing a more functional and effective floorplan. We also make a lot of considerations around the key fundamentals of a home, including a sense of entry and segregation of spaces within an apartment such as having privacy to your master bedroom (leading off a hallway). The building's geometry is also very important, where we consider liveability within the design, offering less reliance on systems with the prospect of natural air flow and solar in the Winter. Whilst also leverage off our Bayside location by using neutral tones and giving great consideration to bright spaces, with low maintenance material selection.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/lowe2004_black_rock_v04_kitchen_g03_low.jpg" rel="gallery-all" title="Modern kitchens with high end appliances and bespoke cabinetry. Image credit: Lowe Group"><img alt="Modern kitchens with high end appliances and bespoke cabinetry. Image credit: Lowe Group" class="image-article-full-width-580px" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/lowe2004_black_rock_v04_kitchen_g03_low.jpg?itok=om_9eBKD" style="width: 580px; height: 322px;" title="Modern kitchens with high end appliances and bespoke cabinetry. Image credit: Lowe Group"></a>

<figcaption>Modern kitchens with high-end appliances and bespoke cabinetry. Image credit: Lowe Group</figcaption></figure>U: Do you ever experience buyers making customisation requests prior to construction? 

TL: This part of our Lowe Living offering, where we engage closely with our buyer to ensure they understand the particulars of their future home and allow them to personalise their home prior to construction. We promote them to consider how the space can work for them and ensure the space is how they envisioned when we deliver the final product. We are conscious of our client’s unique individual preferences, in terms of how they like to live within their home. We also offer a professional service from the Managing Director through to the Project Architect to ensure every detail is covered. We find all our clients engage in this service before construction and this is evident across all our projects to date.

U: What are the key design trends of 2019 you've found to be the most popular among buyers of your developments?

TL: Personalisation and a strong focus on Client Services (customer services), first and foremost. 2019 has seen a more astute and considered buyer enter the market, as the dynamic of the market has changed. Our buyers are expecting more engagement with the product and a better level of customer service. Buying off the plan is almost becoming more akin to a process of building your own home, where buyers want to be involved throughout the entire process including frequent inspections and being kept up to date with progress and activity. We have responded to this market with a dedicated Client Services team, where our client is at the forefront of our business.
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"Buying off the plan is almost becoming more akin to a process of building your own home" says Lowe Group's Tim Lowe

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If you're one of the <a href="https://onproperty.com.au/percentage-of-australians-own-property/">7.9% of Australians</a>* who own an investment property, you'll know that like any home, it requires a lot of time and money spent on maintenance. The good news is that if you’re prepared to spend on professional maintenance and property check-ups, you could avoid some high-cost issues in the long run and improve the wellbeing and happiness of your tenants. One of the main differences between owning your own home, and owning a rental property is that anything spent on maintenance and upgrades has the potential to be earned back in rental income.

*Based on 2011 census

Here are a few things you should keep an eye on next time you visit your rental property:

<h2>#1 Replacing smoke detectors </h2>

While changing batteries may seem like a simple task, it is still the landlord's responsibility and should be undertaken by the property owner or real estate agent. By checking working smoke detectors are installed in the right areas throughout the home, you are firstly ensuring the safety of your tenants, while also reducing the risk of any fire damage to your property.

<h2>#2 Unclog gutters and pipes </h2>

The damage caused by clogged guttering and pipes can end up costing you thousands if flooding or pipe breakage occurs. Hiring a professional to undergo a regular check and remembering to remove leaves and debris from exposed guttering could save you money in future.

<h2>#3 Undertake regular pest checks </h2>

If you’ve ever experienced a termite or mouse infestation, you’ll understand the perils of trying to mitigate the problem once it’s already out of control. Encourage your tenants to alert you of any sightings early on and engage a professional to deal with the problem and provide you with a plan to prevent the issue escalating.

<h2>#4 Get onto mould issues ASAP </h2>

Regularly check shower grouting, ceilings, behind furniture, window sills, and damp zones (such as bathrooms, foyers etc.) for any signs of mould. Stachybotrys Chartarum (or black mould) releases toxic compounds known as ‘mycotoxins’ and when inhaled can lead to a myriad of health complications. While regular cleaning can help eliminate mould, often it’s a greater issue and requires professional attention. Protect your tenants by seeking mould specialists, who can often deal with the problem for around $300 per room.

<h2>#5 Eliminate hazardous materials </h2>

From exposed rusty stakes to asbestos cladding, it’s always a good idea to undergo a building inspection to ensure your home is safe for its inhabitants. Removing anything that could be toxic, flammable or hazardous will eliminate the chance of future issues to arise.

<h2>#6 Check bathroom extractor fans </h2>

Extractor fans play an important role in bathrooms – especially those without an opening window. Ensuring the fan is working will help with reducing mould and mildew growing in the bathroom.

<h2>#7 Change locks between tenancies </h2>

During a tenancy, you often don't know how many keys have been cut for household members, as well as their friends and family. Ensure the safety of your property and your new tenants by having the locks changed. This is a relatively simple task which can be done on the property, within an hour or two by a locksmith.

<h2>#8 Invest in value upgrades</h2>

Upgrading the kitchen or bathroom of your rental property is often likely to increase its value, reduce vacancy rates and will encourage your tenants to treat your property with respect and care. Significant property upgrades are also likely to increase the market value of your property once you decide to on-sell it.

<h2>#9 Employ a gardener </h2>

The unrulier the grounds, the more challenging they are to deal with. Aim to keep weeds at bay and lawns short and consider employing a gardener as this can be a tax-deductible expense.

<h2>#10 Identify wood rot early on </h2>

A deck layered with algae or wood that is disintegrating can pose accident risk for your tenants. Fix the problem early by replacing the deck or undergoing remedial work.

<h2>#11 Look for leaks after a downpour </h2>

While many homes aren’t hermetically sealed and often have gaps to encourage airflow, water pouring in through the window or dripping from the roof is never a good sign and needs to be addressed immediately. Mould can occur within the walls/ceiling and are sometimes issues that only present themselves when it’s too late. Consider using a waterproof paint and silicone sealant.

<h2>#12 Aim to prevent foundation repairs </h2>

Foundation repairs can set you back anywhere from $450 - $11,000 and are often due to natural causes such as soil swelling. It’s important to keep the soil around your home moist and ensure there is sufficient water drainage – ideally a gradual slope. If foundation repairs are likely to be needed, some signs can include doors and windows which are hard to shut, cracks on the walls, sloping flooring and water pooling in your garage/basement or in corners of your house.

<h2>#13 Periodic roof inspections </h2>

Similar to foundation repairs, to replace a roof can cost from $650 - $6,000. The general rule of thumb is to get your roof checked 10 years post installation and every 3 years after.

<h2>#14 Wash flooring and carpets </h2>

Keeping your floors in good nick could make them last longer. Between each tenancy, hire a professional carpet cleaner, and repolish wooden floors. When you clean a carpet stain, you are only cleaning the surface layer, meaning the stain won’t be removed completely. Regular carpet cleaning can reduce permanent damage to your flooring.
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Own rental property? Here are 14 things to check to avoid major problems in future 

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Purchasing property in Australia might be a little easier than you think, thanks to the financial assistance provided by a decent selection of First Home Owner Grants available across Australia. While the grants could be colloquially deemed “free money”, there is a list of requirements you must meet for the sake of eligibility, but once your grant has been approved you’ll be well on your way to securing your first home in no time.

To break down the extent that a grant could actually help you, consider purchasing an <a href="/news/wa/5-perth-apartments-under-385k">off-the-plan apartment for $300,000</a>. With a low deposit home loan of 5%, you’d need to come up with a deposit of $15,000. Take $10,000* off that amount provided by a First Home Buyer Grant, and you’re left with just $5,000 to pay from your own savings.

*Based off of grants offered in some states.

Find out which grant will help you based on which state you live in, by referring to our state-specific list:

<h2>VICTORIA</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourneconventionbureau_melbourne_yarra_night_d5f1d5f3-8775-449b-a6a1-ea715d0d5690.jpg" rel="gallery-all" title="Credit: Melbourne Convention Bureau"><img alt="" class="image-article-full-width-580px" height="232" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/melbourneconventionbureau_melbourne_yarra_night_d5f1d5f3-8775-449b-a6a1-ea715d0d5690.jpg?itok=w5HrW-sT" title="Credit: Melbourne Convention Bureau" width="580"></a>

<figcaption>Credit: <a href="https://www.melbournecb.com.au/why-melbourne/">Melbourne Convention Bureau</a></figcaption></figure><ul>
<li>First Home Owner Grant of up to $10,000 if purchasing property within the city, and $20,000 for regional Victorian properties valued up to $750,000</li>
	<li>First Home Buyer Duty Reduction of stamp duty fees up to 50% if the house is worth up to $600,000</li>
	<li>Principal Place of Residence (PPR) stamp duty concession for primary dwelling homes worth up to $550,000 </li>
	<li>First Home Buyers with Family (at least one child) stamp duty concession on homes valued up to $200,000</li>
	<li>Off-the-plan stamp duty concession </li>
	<li>Young farmers concession, for those purchasing their first farmland</li>
</ul>
<hr>
<h2>QUEENSLAND</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/d351-1600x670-brisbane-story-bridge-136310-2.jpg" rel="gallery-all" title="Credit: Tourism Queensland"><img alt="" class="image-article-full-width-580px" height="243" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/d351-1600x670-brisbane-story-bridge-136310-2.jpg?itok=GfiOigeS" title="Credit: Tourism Queensland" width="580"></a>

<figcaption>Credit: <a href="https://www.queensland.com/">Tourism Queensland</a></figcaption></figure><ul>
<li>Queensland First Home Owners Grant offers $15,000 for first home buyers who are buying or building a new house, unit or townhome valued up to $750,000</li>
	<li>If your contract was signed between 1 July 2016 to 30 June 2018 you could be eligible for $20,000</li>
</ul>
<hr>
<h2>NEW SOUTH WALES</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/5104226627001_5232364726001_5203603568001-vs.jpg" rel="gallery-all" title="Credit: Lonely Planet"><img alt="" class="image-article-full-width-580px" height="345" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/5104226627001_5232364726001_5203603568001-vs.jpg?itok=buNlkvto" title="Credit: Lonely Planet" width="580"></a>

<figcaption>Credit: <a href="https://www.lonelyplanet.com/australia/sydney">Lonely Planet</a></figcaption></figure><ul>
<li>$10,000 First Home Owner Grant for builders of new homes up to $750,000, and purchases of new homes up to $600,000</li>
	<li>Stamp duty relief for all homes up to $650,000 </li>
	<li>Reduced stamp duty fees for homes valued between $650,000 and $800,000</li>
	<li>No insurance duty on Lender’s Mortgage Insurance (LMI)</li>
</ul>
<hr>
<h2>AUSTRALIAN CAPITAL TERRITORY</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/canberra.jpg" rel="gallery-all" title="Credit: Smart Company"><img alt="" class="image-article-full-width-580px" height="286" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/canberra.jpg?itok=5AoLWW1w" title="Credit: Smart Company" width="580"></a>

<figcaption>Credit: <a href="https://www.smartcompany.com.au/finance/economy/canberra-leading-the-small-business-charge/">Smart Company</a></figcaption></figure><ul>
<li>First Home Owner Grant of $7,000 for new, substantially renovated or off-the-plan properties up to $750,000</li>
	<li>Ability to defer stamp duty payment if eligible for the First Home Owner Grant</li>
	<li>From 1 July 2019, the First Home Owner Grant will change to a <a href="https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme/home-buyer-concessions-from-1-July-2019">Home Buyer Concession Scheme</a> where buyers can be eligible for a stamp duty exemption if they meet certain criteria</li>
</ul>
<hr>
<h2>NORTHERN TERRITORIES</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/aerial-darwin-72_5437-1080x675.jpg" rel="gallery-all" title="Credit: Broadcast Australia"><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/aerial-darwin-72_5437-1080x675.jpg?itok=DoZSdgVZ" title="Credit: Broadcast Australia" width="580"></a>

<figcaption>Credit: <a href="https://www.broadcastaustralia.com.au/dab-digital-radio-now-live-darwin/">Broadcast Australia</a></figcaption></figure><ul>
<li>From 7 May 2019, if you’re buying or building new, you could be eligible for a First Home Owner Grant of $10,000</li>
	<li>You may also be eligible for the <a href="https://nt.gov.au/property/home-owner-assistance/buildbonus-grant">BuildBonus</a> grant of $20,000 which is limited to 600 applications only</li>
	<li>
<a href="https://nt.gov.au/property/home-owner-assistance/territory-home-owner-discount">Territory Home Owner Discount</a> is a stamp duty concession of $18,601 available to those buying an established home, new home or land to build a new home in the Northern Territory</li>
</ul>
<hr>
<h2>TASMANIA</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tasmania.jpg" rel="gallery-all" title="Credit: Discover Tasmania"><img alt="" class="image-article-full-width-580px" height="237" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tasmania.jpg?itok=t5yOgcd6" title="Credit: Discover Tasmania" width="580"></a>

<figcaption>Credit: <a href="https://www.discovertasmania.com.au/">Discover Tasmania</a></figcaption></figure><ul>
<li>First Home Owner Grant of $20,000 for those who meet certain criteria will be available up until 30 June 2020</li>
	<li>For eligible grant applications from 1 July 2020 onwards, the amount awarded will be $10,000</li>
</ul>
<hr>
<h2>WESTERN AUSTRALIA</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/perth-skyline-night-720x405.jpg" rel="gallery-all" title="Credit: Curtin University"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/perth-skyline-night-720x405.jpg?itok=gd4Rd-Nr" title="Credit: Curtin University" width="580"></a>

<figcaption>Credit: <a href="https://futurestudents.curtin.edu.au/curtin-life/living-in-perth-and-wa/">Curtin University</a></figcaption></figure><ul>
<li>First Home Owner Grant of up to $10,000 for new builds valued up to $750,000 within the Perth metropolitan area</li>
	<li>First Home Owner Grant of up to $10,000 for new builds valued up to $1 million, north of the Perth metropolitan area</li>
</ul>
<hr>
<h2>SOUTH AUSTRALIA</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/adelaide.jpg" rel="gallery-all" title="Credit: City of Adelaide"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/adelaide.jpg?itok=9IQpipT2" title="Credit: City of Adelaide" width="580"></a>

<figcaption>Credit: <a href="https://www.cityofadelaide.com.au/">City of Adelaide</a></figcaption></figure><ul>
<li>$15,000 for new residential dwellings up to $575,000 (you must live in the property for at least 6 months in the first year to be eligible)</li>
	<li>Off-the-plan concession on stamp up to $21,330 for eligible contracts entered between 31 May 2012 to 30 June 2018</li>
	<li>Other grants of up to $7,000 are available for existing homes </li>
</ul>
<hr>
<h2>FIRST HOME OWNER GRANT (FHOG) RULES </h2>

Some of the rules that can be associated with these grants include a minimum age (often 18-years-old), at least one of the purchasers must hold Australian citizenship and it must be the first home bought by the purchaser and their spouse. Head to the website of your municipal government to find out if you meet the eligibility criteria. 

<hr>
<h2>OTHER INCENTIVES TO NOTE:</h2>

<a href="/developers/geocon-group">Geocon’s</a> <a href="https://geocon.com.au/projects/residential/republic/">End Of Financial Year Property Bonus</a>: Geocon is offering a deal where you can buy a Republic apartment for $1,000 and Geocon will pay the remaining 5% deposit, up to $50,000*.

*Only 3 weeks left and Terms &amp; Conditions apply.

<a href="https://tullamoreapartments.mirvac.com/news-and-events/News/mirvac-matches-first-home-owner-grant">Mirvac</a> is offering pre-qualified first home buyers the opportunity to purchase an apartment with a 5% deposit. Mirvac will also match the government’s first home owner grant on selected 2-bedroom Tullamore apartments.

<a href="http://www.dkaproperty.com.au/special-offers">DKA Property</a> is providing buyers with financial assistance towards covering the first year’s strata levies cost to the value of $1,000.

Plantation Homes are offering free, no-obligation consultation preliminary finance qualification so buyers can find out what they can afford.

Caydon are offering to boost first home buyer deposits by $20,000 when purchasing one of their Malt District apartments. This may be used in conjunction with the First Home Buyer Grant.

Some off-the-plan sales are also able to be negotiated, so you can significantly reduce your purchase price by placing a low ball offer.

It is, however, important to weigh up your options when purchasing your first home, and although a property may be financially viable (and look good on paper) you'll want to ensure it meets your needs in terms of look and feel; location; amenity offering; quality; and champions timeless modern design.

<hr>
Sources:  <a href="http://https://www.sro.vic.gov.au/first-home-owner">State Revenue Office Victoria</a> | <a href="https://www.qld.gov.au/housing/buying-owning-home/financial-help-concessions/qld-first-home-grant/apply-first-home-grant%C2%A0">QLD.GOVT.AU</a> | <a href="https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/">NSW.GOVT.AU</a> | <a href="https://www.revenue.act.gov.au/home-buyer-assistance/first-home-owner-grant">Revenue ACT</a> | <a href="https://nt.gov.au/property/home-owner-assistance/first-home-owners/first-home-owner-grant">NT.GOVT.AU</a> | <a href="https://www.sro.tas.gov.au/first-home-owner-grant">State Revenue Office of Tasmania</a> | <a href="https://www.finance.wa.gov.au/cms/State_Revenue/FHOG/About_the_First_Home_Owner_Grant.aspx">Finance Western Australia</a> | <a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners">Revenue South Australia</a>

Disclaimer: While Urban strives to provide accurate content, we do advise that readers undertake their own research and to only use our findings as a guide. 
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How to navigate Australia's First Home Buyer Grants

<html><body>
Buying your first house can be a daunting process, but with the right information, you'll be on your way to securing your first home with minimal stress.

To help you through this process we've outlined several key steps and considerations, to enable you to enter the market with confidence. 

<h2>Firstly, is the timing right?</h2>

1. Identify the hidden costs that come with homeownership

Upfront costs could take up to 7% or potentially more of the property price and you could be looking at spending an extra few grand on government fees, building inspections, mortgage brokers, conveyancing lawyers and more.

2. Work out how much your repayments would be

Most banks will have an interactive mortgage calculator available on their website where you can input your deposit + property price + mortgage term (eg. 30 years) + interest rate, to find out what your weekly/monthly payments will be. 

3. Create a long-term savings scheme

In order to save quicker, it can be a good idea to budget your weekly expenditure. Cancel disused subscriptions (streaming services, magazines etc.), bring your own lunch to work, cycle rather than take public transport, save buying food out for social occasions etc. 

Some banking apps even categorise your spending so you can identify where your money is going. 

4. Create a term deposit savings account

If you already have savings set aside for your house deposit, consider locking them away for a few months or even years in a term deposit. Shop around to see which bank will give you the best return on your investment.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/money-2724241_1920.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="392" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/money-2724241_1920.jpg?itok=fA1B64MC" width="580"></a></figure><h2>Once you’ve decided that you’re ready to buy property, you need to:</h2>

5. Check whether you have enough for your deposit

The suggested deposit for a property in Australia is 20%, however, you may wish to pay more (if you've saved more), or less (special terms apply). If your deposit is less than 20%, you'll need to apply for Lenders Mortgage Insurance (LMI) which can be paid upfront or concurrently with your home loan. The rate of LMI is calculated after the bank undergoes a value assessment of the property to you wish to purchase and compares the loan to value ratio.

6. Make allowance for stamp duty, government and conveyancing fees

Stamp duty is paid when you purchase property in Australia, however, a first home buyer exemption resulting in a significantly reduced rate can apply if the buyer meets certain requirements.

For example, if you are buying in Victoria, the following will apply:

<ul>
<li>
	You enter into a contract of sale to buy your first home on or after 1 July 2017.
	</li>
	<li>
	Your home has a dutiable value of $600,000 or less to receive the first home buyer duty exemption, $600,001 to $750,000 to receive the first home buyer duty concession.
	</li>
	<li>
	All the purchasers of the property meet the First Home Owner Grant eligibility criteria, and at least one purchaser satisfies the residency requirement.
	</li>
</ul>
- <a href="https://www.sro.vic.gov.au/fhbduty">State Revenue Office Victoria</a>, First home buyer duty exemption, concession or reduction

Government fees can include: lease transfer, registrations, title searches etc.

Conveyancing fees apply when placing an offer, reading over legal documents and at the settlement stage of the process.

7. Find out whether you’re eligible for a First Home Owner Grant 

You can find out whether you're eligible for the First Home Owner Grant via the State Revenue Office Victoria website <a href="https://www.sro.vic.gov.au/first-home-owner">here</a>.

8. Decide on the purpose of your property purchase

Every buyer has a different reason for purchasing property – some for investment purposes, others might be looking for a small apartment close to work, while some would rather a lifestyle block in a family-friendly community. It is important to identify what you're looking for from the outset to ensure you don't spend time looking at places that don't meet your needs. That's not to say that you shouldn't look a little further afield than your preferential neighbourhoods (as sometimes areas which border popular suburbs can be significantly cheaper), but future planning is essential.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tierra-mallorca-1679013-unsplash_1.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="436" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tierra-mallorca-1679013-unsplash_1.jpg?itok=wLScDKDe" width="580"></a></figure><h2>Beginning the search</h2>

9. Explore your options

Begin your engagement with a selection of agents, property search platforms and go out to viewings. Approach the agents with a shopping list of what you're after – eg. a new, one-bedroom, off-the-plan apartment in central Melbourne with plenty of outdoor space, under $450,000. This will hopefully give them a good understanding of what you're after so you can view properties better suited to your requirements. 

10. Study suburb insights

Do thorough research of the area, by looking up new planning developments proposed for nearby sites. Consider if new buildings could potentially block your view, or whether a proposed entertainment centre could add significant value to your property. Think about the quality of education and amenities nearby and whether there are sufficient, public transport options and supermarkets. 

11. Check the sales history and rental yield

Look up the address of the property online, and check the previous sales history of the area. Is the property you're looking at fairly priced compared to other properties in the area? Has there been an increase in value over the past few years?

It's also a good idea to ask the agent what the suggested rental yield of the property is (what they would rent it out for). If at some point you needed to rent out your property, would this weekly income cover the mortgage?

12. Ensure that an insurance company will cover the property you’re interested in

There have been issues in the past where owners of coastal properties found it challenging to acquire new insurance following concerns regarding sea levels rising. To avoid any issues down the track, approach an insurance company and find out whether they would cover the property you're interested in, and what the annual fee would be. 

13. Check you can afford the annual rates

Annual council rates can work out to cost as little as <a href="https://www.lga.sa.gov.au/councilrates">$3.50 per day</a>, however, this rate will fluctuate depending on the average valuation trends of an area. Your real estate agent should be able to tell you what the current annual rates would be for the property, which you can then factor into the annual fees of maintaining your new home. 

14. Make sure you can visualise yourself living there

Property is one of the biggest purchases you'll ever make, so you will want to ensure the house you're buying ticks all the boxes. Keep looking until you find a place which meets your needs, fits within your budget and is located in an area you're happy to live in.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/business-3167295_1920.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/business-3167295_1920.jpg?itok=IPZPpmiQ" width="580"></a></figure><h2>Placing an offer</h2>

15. Engage a conveyancer or solicitor to read over the offer agreement

Placing an offer is a legally binding process, so it's important to ensure you've read through all the paperwork carefully. By engaging a conveyancing lawyer, you can rest assured that if your offer is accepted, you are far less likely to be sprung with any financial issues or unforeseen terms in future.

16. Decide on your terms of sale and check you agree with the vendor's

Don't be afraid to make a cheeky offer, the worst that can happen is that the vendor might make you a counter-offer. Before signing any paperwork, make sure you feel 100% confident in your decision. 

17. Go through the Title covenants with a fine-tooth comb

There are many unique covenants that are attached to certain properties, and different rules apply for apartments, off-the-plan new builds, detached dwellings, land and more. Everything from how tall your trees can be, to whether you can paint your front door should be outlined. Ensure you read this carefully as in some cases you can contest certain restrictions.

18. Submit your offer

Many first home buyers will make a 'conditional offer subject to finance' – which means they have raised the deposit but still need to secure a home loan. Speak with a financial advisor or mortgage broker about which option is right for you.

<blockquote>
"[In Victoria] you can make your offer subject to multiple conditions and if the conditions are not met, you can back out of the sale without a penalty. This offers the purchaser a level of protection that can make a transaction go more smoothly and provide some stress relief."
</blockquote>

- Tony Harrington, Licensed Estate Agent

*While this is the case in Victoria, some states incur a penalty fee which is a percentage of the deposit amount.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/house-1407562_1920.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/house-1407562_1920.jpg?itok=p9CktZ0C" width="580"></a></figure><h2>Settlement </h2>

19. Once your offer has been accepted, check again that you have clearly read, understand and agree with the terms of sale

When it comes to the paperwork required to secure your new home, there can be a lot of jargon. Employing a conveyancing lawyer to read through settlement documentation will give you the confidence that the vendor has provided you with realistic and fair terms of sale. Feel free to raise any questions or concerns you have with your lawyer as they will often have a wealth of experience to draw on from working with hundreds of clients in a similar situation. 

20. Apply for your home loan

Firstly, choose between a fixed rate or variable rate.

Fixed rate: Interest rate stays the same for a certain period of time - providing you with certainty and routine payments.

Variable rate: As interest rates fluctuate, so does your repayment rate. Whilst more unpredictable, variable rates can give you the flexibility to pay off your loan sooner.

There are also three ways of paying your loan.

Interest offset account: A transaction account which is linked to your home loan. The money saved in this account can be used to offset interest paid on your mortgage.

Principle + interest loan: Paying both the property and interest at the same time. Repayment rates may seem high, but you'll pay off your mortgage a lot quicker.

Interest-only loan: Interest-only means less weekly payments but will draw your mortgage term out. 

21. Cooling-off period

The 'cooling-off period' is approximately 2-5 business days after purchase in which the buyer may back out of the sale.* It gives a bit of leeway for the buyer to undergo further due diligence, and to decide whether they would like to complete the sale. If the buyer reneges on the sale, they will have to pay a small termination fee. 

*Speak to your lawyer or real estate agent about whether the cooling-off period applies to your purchase. 

22. Complete a final inspection of the property

Before you move in, ensure the property is exactly as described (if buying off-the-plan) – all chattels are included, no damage has been made to the property, any prior arrangements have been delivered (eg. if you requested a window to be fixed, check that this has been done).

23. Acquire home insurance

Sign up your home insurance as soon as your name is on the title. Shop around for the best deal.

24. Thank everyone who has helped you along the process

There are usually a lot of people that lend a hand during the house buying process – send them a thank you note to show your appreciation for their help.
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First Home Buyer Guide (24 simple steps)

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The Reserve Bank of Australia announced last week that they would be reducing interest rates to an all-time low of 1.25% in a bid to reinvigorate household spending and the economy, as well as mitigate unemployment statistics.

<blockquote>
“Today's decision to lower the cash rate will help make further inroads into the spare capacity in the economy. It will assist with faster progress in reducing unemployment and achieve more assured progress towards the inflation target. The Board will continue to monitor developments in the labour market closely and adjust monetary policy to support sustainable growth in the economy and the achievement of the inflation target over time.”
</blockquote>

- Reserve Bank of Australia press statement

From 2018 Q2 – 2019 Q2, <a href="/">Apartments.com.au</a> recorded a substantial growth in first home buyers, so given the market shift, here is how interest rate cuts could impact first home buyers.

<figure><img alt="" class="image-article_full_width_580px" height="343" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/image_5_0.png?itok=b192Hf-x" width="580"></figure><h2>Outlook at a glance</h2>

<blockquote>
“Now could be a good time to buy since house prices, interest rates and repayments are at an all-time low and property values could rise in the near future due to competition in the market.”
</blockquote>

Mike Bird, Apartments.com.au Executive Director

<h2>Repayment reductions</h2>

A reduced monthly repayment rate will essentially result in more affordable loan serviceability. It is, however, important to determine whether you could service a higher repayment rate in future, should further changes be made. It is also a good idea to consider the timeframe you endeavour to pay off your mortgage by, as iterations to repayment rates could extend the term significantly.

<h2>The trio that works in your favour</h2>

With house prices, interest rates and repayment rates at their lowest, now could be a smart time to buy if you’re in the market for your first home.

<blockquote>
"Throughout Brisbane’s inner-west, we have experienced improved attendance at open homes and increased enquiry for both apartments and houses. Buyers now appear more prepared to make offers on properties, where before they had been hesitating in the lead up to the federal election. These indicators are showing encouraging signs of improved consumer confidence which will bode well for property owners."
</blockquote>

Byrony O'Neill, Director &amp; Licenced Real Estate Agent at <a href="https://www.byronyoneill.com.au/2019/06/06/how-will-the-rbas-interest-rate-cut-impact-brisbanes-property-market/">Byrony O’Neill Estate Agents</a>

Given the market conditions, Australian economists have emphasised the importance of undertaking due diligence and exercising care when making purchases, as although we can make predictions, rates could still change, and you want to be financially prepared for the worst.

<h2>Competition to drive valuations</h2>

If a vast portion of first home buyers discover that they now have an adequate deposit to purchase property and service a mortgage, this could essentially drive demand and competition for property across Australia. In the past this has resulted in higher property values, which is positive for those who enter the market early.

<blockquote>
"We believe the interest rate cut will reduce the cost of borrowing which has a direct impact on property purchase by increasing demand since it costs less to buy the property at the same price. But more importantly, it incentives general business investment which will increase economic activity and improve market sentiment. In turn, this will increase the property buyer’s confidence which will translate to increase demand and contribute to reversing the current market sentiment."
</blockquote>

Jiaheng Chan, co-founder and Managing Director of Beulah International

<h2>Potential bad news for savers</h2>

While interest rates provide more achievable mortgage serviceability, those who are in the process of saving may find they receive lower interest payments from their bank.

<h2>How the four major banks responded</h2>

CBA and NAB will be passing on the full 0.25 rate cut to customers. ANZ will reduce their interest rates on mortgages by 0.18 percentage points and Westpac by 0.20 percentage points for owner-occupiers.

<h2>What’s in store for 2019?</h2>

There has been speculation the further interest rate cuts are yet to be made, and Macquarie Securities predicts that house prices in Australia are likely to fall by another 1-2% in coming months but are likely to normalise soon after.

<blockquote>
“[We] should see national house prices rise by at least 5 per cent by the end of 2020… We assume the RBA cuts by 50 basis points in coming months and most of that is passed through to actual mortgage rates.” 
</blockquote>

Macquarie Securities, via <a href="https://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/99407-macquarie-tips-property-prices-to-rise-5-percent-in-2020">Property Observer</a>

Either way, changes to the off-the-plan property market are inevitable, and we have no doubt witnessed <a href="/guides/off-the-plan-property-buyer-confidence-surges-post-election">confidence in buyers</a> across all states in recent weeks, so it will be interesting to see how the second half of 2019 plays out.

Follow Apartments.com.au on Facebook for more industry updates.
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How Australia’s interest rate cuts could impact first home buyers

20 things you should look out for before you buy property

14 steps to making your brand-new apartment feel like home

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This week Olivia is joined by Kate Harris, CEO of Good Environmental Choice Australia. Kate discusses the importance of transparency in supply chains, digital documentation of materials used in construction and more.

Note: The podcast was recorded prior to Kate's DesignBUILD seminar, which has now passed.

<iframe allow="autoplay" frameborder="no" height="166" scrolling="no" src="https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/630651273&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true" width="100%"></iframe>
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Podcast - Episode 52: GECA CEO Kate Harris

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<a href="https://www.premier.vic.gov.au/new-laws-pass-protecting-victorian-homeowners/">New laws have been passed</a> in Victoria under the Andrews Labor Government with the intent to protect <a href="/new-apartments">off-the-plan</a> buyers against negligent sunset clause arrangements, among other new bills included in <a href="https://www.parliament.vic.gov.au/legislation/343-legislation-and-bills/articles/1824-bills-this-week">The Sale of Land Amendment Bill 2019</a>.

The new sunset clause regulations will retrospectively come into effect from 23rd August 2018, ensuring both current and future <a href="/new-apartments">off-the-plan</a> homeowners will be covered.

Up until now, developers have been able to include a sunset clause provision in <a href="/new-apartments">off-the-plan</a> contracts, meaning that they can terminate the contract where the plan of subdivision hasn’t been registered by a specific date. This has led to exploitation by some accounts whereby the developer has deliberately delayed delivery of a project to terminate <a href="/new-apartments">off-the-plan</a> contracts and then resell the apartment for a higher price.

The new initiative will mean developers may only exercise a sunset clause if written consent is provided by the buyer or Supreme Court of Victoria.

<blockquote>
“We’re ensuring that current or future homeowners aren’t being ripped off by dishonest developers, being misled about the history of their property and that vendors who do the wrong thing are punished accordingly.”
</blockquote>

- Minister for Consumer Affairs Marlene Kairouz

New laws will also:

<ul>
<li>Prohibit public auctions of land before 1 pm on Anzac Day, bringing the industry into line with the standard restricted business hours for the day</li>
	<li>Strengthen the existing requirement for vendors or real estate agents to disclose material facts about a property, and enable guidelines to detail what a material fact is likely to be (for example, a property’s past history as a clandestine drug laboratory or the site of a homicide)</li>
	<li>Introduce greater protections for people who purchase options to buy land as part of a land banking scheme, including requiring money paid for options to be held in a trust</li>
	<li>Prohibit certain terms contracts and rent-to-buy arrangements, with significant fines and potential jail time for vendors and third-party intermediaries to act as a strong deterrent.</li>
</ul>
<blockquote>
“Knowing they have the law behind them will give families and young people peace of mind when investing in the often-intimidating property market.”
</blockquote>

- Minister for Consumer Affairs Marlene Kairouz
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