The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

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

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<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

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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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