<p data-end="306" data-start="90">The rising cost of construction, combined with significant growth in Sydney’s property market, means first home buyers looking to get a foothold on the property ladder need to act quickly in the new apartment market.</p>

<p data-end="560" data-start="308">In 2023, the NSW Government increased the concessional stamp duty threshold to $800,000. This means first home buyers purchasing a new or off-the-plan apartment below this threshold pay no stamp duty — a saving of up to&nbsp;$31,090.</p>

<p data-end="804" data-start="562">However, due to escalating construction costs, fewer apartment towers are being built. As a result, there’s a reduced supply of one-bedroom apartments in the market — the configuration type most likely to fall under the $800,000 threshold.</p>

<p data-end="1219" data-start="806">This means first home buyers must move fast when new developments are released with apartments priced below $800,000. These opportunities are becoming increasingly rare and are now also attracting serious interest from investors. While investors don’t benefit from the stamp duty concession, they are buying in an environment of falling interest rates, rising property prices, and rents at or near historic highs.</p>

<p>In this article, we've rounded up the top six new developments across Greater Sydney that has apartments that fall under $800,000 and make sense for first home buyers.</p>

<h2>What: Auburn Square</h2>

<h2>Where: 26-36 Northumberland Road, Auburn NSW 2144</h2>

<h2>Who: Tian An LFD</h2>

<h2>Priced from: $540,000</h2>

<p>Tian An recently launched the next phase of its award-winning <a href="/buildings/auburn-square-stage-1-26-36-northumberland-road-auburn-nsw-2144">Auburn Square</a> precinct, with prices starting from $540,000.</p>

<p>The new stage, <a href="/new-apartments/north-village-auburn-square-35-northumberland-road-auburn-nsw-2144">North Village</a>, will comprise 264 apartments across a striking Rothelowman-designed building, above a new Coles supermarket and cafe.</p>

<p>[smartcode_project:default project_id=149184 project_image_fid=324852]</p>

<p>Over 25 per cent of the new apartments were snapped up on its recent launch, driven by first home buyers, young professionals, and local rightsizers.</p>

<p>North Village is the&nbsp;only new development in&nbsp;<a href="/developments/auburn-nsw-2144" target="">Auburn</a>&nbsp;to offer the sought-after Latent Defects Insurance by Resilience Insurance. This insurance provides buyers with up to 10 years of coverage for any structural or waterproofing issues—not just in the building and common areas, but also within their individual apartments. It’s the most rigorous insurance available to developers, giving buyers genuine peace of mind when purchasing off the plan.</p>

<p>[smartcode_project:default project_id=149184 project_image_fid=324853]</p>

<p>iCIRT rated builder Binah is on site and is expecting to complete the building in 2027.</p>

<h2>What: Central Quarter</h2>

<h2>Where: 242-252 Pitt Street, Merrylands NSW 2160</h2>

<h2>Who: Northland</h2>

<h2>Priced from: $598,700</h2>

<p>Veteran developer Northland Group is also offering price-pointed apartments in their recently launched Merrylands development, <a href="/new-apartments/central-quarter-merrylands-242-252-pitt-street-merrylands-nsw-2160">Central Quarter</a>.</p>

<p>Also with the Latent Defects Insurance policy, Central Quarter offers 194 one-, two-, and three-bedroom apartments next to Merrylands Station, bus interchange, and Stockland Merrylands retail centre.</p>

<p>[smartcode_project:default project_id=5660 project_image_fid=343722]</p>

<p>Northland is also bringing doorstep convenenience to its podium levels in the form of a fast food operator, a 24/7 gym, and a childcare centre.</p>

<p>The builder-developer is well underway in the construction phase and is expecting to welcome buyers in the middle of 2026.</p>

<h2>What: Horizon Hurstville</h2>

<h2>Where: 6 Jack Brabham Drive, Hurstville NSW 2220</h2>

<h2>Who: One Collection</h2>

<h2>Priced from: $657,000</h2>

<p>Another developer who has timed their launch to coincide with significant progress in the build is One Collection, who has recently launched&nbsp;<a href="/new-apartments/horizon-hurstville-6-jack-brabham-drive-hurstville-nsw-2220">Horizon Hurstville</a>, in the heart of the connected south Sydney suburb.</p>

<p>Horizon is the final building within a wider precinct which already&nbsp;features a Woolworths supermarket and direct access to Kempt Field.</p>

<p>[smartcode_project:default project_id=149850 project_image_fid=278]</p>

<p>It’s the park and convenience that underpin&nbsp;<a href="/developments/hurstville-nsw-2220" target="">Hurstville</a>’s strong Walk Score of 81 — a number set to improve with the arrival of&nbsp;<a href="/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya" target="">St Clair</a>&nbsp;Lane, a new retail laneway soon to be activated by hospitality, health, and lifestyle businesses.</p>

<p>Above St Claire Lane, 179 one-, two-, and three-bedroom apartments are now available, priced well under the threshold for first home buyers to pay no stamp duty.</p>

<h2>What: Dawn, Melrose Park</h2>

<h2>Where: 82-84 Wharf Road, Melrose Park NSW 2114</h2>

<h2>Who: Sekisui House Australia</h2>

<h2>Priced from: $639,000</h2>

<p>&nbsp;</p>

<p>Sekisui House Australia has seen a wave of first home buyers at its latest stage of its Melrose Park masterplan, Dawn.</p>

<p>Priced from $639,000, the 368 apartments sit the closest to the new park being delivered by Sekisui. GroupGSA has designed the apartments to take in as much of the natural surroundings as possible.&nbsp;</p>

<p>[smartcode_project:default project_id=145496 project_image_fid=334048]</p>

<p>There are one, two and three-bedroom apartments on offer, as well as luxury penthouses with private rooftop terraces.</p>

<p>Dawn’s prime location close to the future Melrose Park High School,&nbsp;<a href="/developments/parramatta-nsw-2150" target="">Parramatta</a>&nbsp;Light Rail Stage 2 connection and&nbsp;<a href="/developments/melrose-park-nsw-2114">Melrose Park</a>&nbsp;Town Centre as well as extensive parklands, make it a popular choice with purchasers.</p>

<p>&nbsp;</p>

<h2>What: Melrose Central</h2>

<h2>Where: 33 Hope Street, Melrose Park NSW 2114</h2>

<h2>Who: Deicorp</h2>

<p>Deicorp also has seen a significant number of first home buyers at their slice of Melrose Park.</p>

<p>Their new development,&nbsp;<a href="/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>, is&nbsp;a $700 million joint venture with PAYCE and will feature a mixed-use project that will deliver around 500 apartments above a substantial 30,000 sqm retail podium anchored by Coles.</p>

<p>[smartcode_project:default project_id=134220 project_image_fid=289882]</p>

<p>The site’s early stages are already under construction, with completion of the first three towers expected by mid-2027.</p>

<p>Design is led by <a href="/architects/turner-studio">Turner Studio</a>, and the broader precinct will benefit from a new Parramatta Light Rail stop, connecting residents to Olympic Park, Parramatta, and Sydney Metro West in the years ahead.</p>


In this article, we've rounded up the top six new developments across Greater Sydney that has apartments that fall under $800,000 and make sense for first home buyers

Joel Robinson

Why first home buyers have to act fast in Sydney's new and off the plan apartment market

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>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;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>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.</p>

<p>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).</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<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>

<p>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.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


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

<p data-pm-slice="1 3 []">Sydney property prices are surging once again.</p>

<p data-pm-slice="1 3 []">After a relatively flat market in 2024, which concluded with some softening months before positive economic data regarding inflation and the handing down of what is forecasted to be the first of several rate cuts in 2025, prices in Australia's most expensive capital city are back on the rise.</p>

<p data-pm-slice="1 3 []">Inner city apartments aren't getting more affordable any time soon. We've wrapped up the top five newest apartment developments in some of Sydney's most central suburbs that cost under $1 million.</p>

<h2>What: Danks St District, Waterloo</h2>

<h3>Where:&nbsp;903-921 Bourke Street, Waterloo NSW 2017</h3>

<h3>Who: DASCO</h3>

<p><a href="/developers/dasco-australia">DASCO</a>’s game-changing new <a href="/developments/waterloo-nsw-2017">Waterloo</a> precinct,&nbsp;<a href="/new-apartments/danks-st-district-waterloo-903-921-bourke-street-waterloo-nsw-2017">Danks St District</a>, has its entry-level apartments come in at $965,000.</p>

<p>Bourke Street Residences is the first release of the new neighbourhood that will see six new residential buildings delivered, as well as the restoration of two heritage-listed structures.</p>

<p>There are one-, two-, and three-bedroom apartments on offer at Bourke Street Residences, which will also have private amenities including a rooftop garden and outdoor gym.</p>

<p>[smartcode_project:default project_id=111820 project_image_fid=344699]</p>

<p>Designed by a mix of architecture firms, including <a href="/architects/mhn-design-union">MHNDU</a> and <a href="/architects/bates-smart">Bates Smart</a>, the buildings feature a mix of brick and contemporary design elements that reference the industrial history of the area.</p>

<p>Danks St District is located near Redfern, Green Square, and Surry Hills, and benefits from proximity to parks, dining options, and public transport.</p>

<p>Key features:</p>

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>DASCO is one of Sydney's most respected builder-developers</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Insured with Resilience Insurance's 10-year Latent Defects Insurance</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Within walking distance of key inner-city precincts</p>
	</li>
</ul>

<h2>What: The Kensington, Kensington</h2>

<h3>Where:&nbsp;147-151 Anzac Parade, Kensington NSW 2033</h3>

<h3>Who: TOGA</h3>

<p>Another one of Sydney's most renowned builder-developers, TOGA, is offering apartments not quite under, but just over, the $1 million threshold.</p>

<p>It was worth noting however because The Kensington is one of TOGA's most connected new developments, on the doorstep of the Kensington Light Rail stop, and the growing Randwick health precinct and main UNSW campus.</p>

<p>[smartcode_project:default project_id=110959 project_image_fid=307651]</p>

<p><a href="/new-apartments/the-kensington-147-151-anzac-parade-kensington">The Kensington</a>, currently under construction by DASCO, will comprise&nbsp;142 apartments, including a small number of SOHO (Small Office/Home Office) residences on the ground floor.</p>

<p>Designed by Turner Studio, the building aims to balance traditional architectural references with contemporary materials.</p>

<p>[smartcode_project:default project_id=110959 project_image_fid=307646]</p>

<p>The development will feature rooftop and shared communal areas and is located within walking distance of light rail, offering quick access to the CBD and beaches.</p>

<p>Key features:</p>

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Part of a long-term urban renewal zone</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>SOHO residences available with private street access</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Light rail access and future investment in town centre improvements</p>
	</li>
</ul>

<h2>What: Stanton Place, Rosebery</h2>

<h3>Where:&nbsp;5-15 Dunning Avenue, Rosebery NSW 2018</h3>

<h3>Who: Stockland</h3>

<p><a href="/new-apartments/stanton-place-rosebery-5-15-dunning-avenue-rosebery-nsw-2018">Stanton Place</a> is part of <a href="/developers/stockland">Stockland</a>’s return to high-density apartment development. The Rosebery project will include 144 apartments across three buildings, centred around a landscaped courtyard.</p>

<p><img alt="Stanton" data-entity-type="file" data-entity-uuid="c36ab483-42c7-4b38-9718-6e34bc9277a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-05-13%20at%209.00.01%E2%80%AFAM.png?VersionId=sb7W0YQFqAycVW1VUNMSoWHn5DjF0LDY" /></p>

<p>The development is being designed with sustainability in mind, including EV charging options, solar panels, and rainwater tanks. Located on Dunning Avenue, it’s well connected to cafes, Green Square Station, and local amenities such as The Cannery.</p>

<p>Key features:</p>

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>New Stockland apartments in an established inner-south location</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Emphasis on sustainability and green space</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Walkable access to shops, transport, and parkland</p>
	</li>
</ul>

<h2>What: The Rothschild, Rosebery</h2>

<h3>Where:&nbsp;24 Rothschild Avenue, Rosebery NSW 2018</h3>

<h3>Who: Deicorp</h3>

<p>Builder-developer Deicorp recently completed&nbsp;<a href="/buildings/the-rothschild-rosebery-24-rothschild-avenue-rosebery">The Rothschild</a>, also in&nbsp;<a href="/developments/rosebery-nsw-2018">Rosebery</a>, and has one-bed one-bath apartments, including those with a car space, under $1 million.</p>

<p>The building’s design, by <a href="/architects/candalepas-associates">Candalepas &amp; Associates</a>, incorporates European-inspired elements and sits within a quieter pocket of the inner south.</p>

<p>[smartcode_project:default project_id=106843 project_image_fid=221665]</p>

<p>The location offers good access to transport, parks, and established retail precincts, making it a practical choice for those seeking an inner-city home without a construction wait.</p>

<p>Key features:</p>

<ul>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Completed apartments with immediate move-in</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Designed by award-winning architects</p>
	</li>
	<li data-list-indent="1" data-list-type="bulleted">
	<p>Close to key employment, retail, and transport hubs</p>
	</li>
</ul>


What $1 million can buy you in Sydney's new and off the plan apartment market

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

<p><strong>Summary:</strong></p>

<ul>
	<li><strong>The Crisafulli Government has announced abolishing stamp duty on new homes for first home buyers, will be the first priority of Parliament</strong><br />
	&nbsp;</li>
	<li><strong>The Revenue Legislation Amendment Bill 2024 to be the first piece of legislation debated in the Parliament, delivering major cost of living relief to Queensland first home buyers.&nbsp;&nbsp;</strong><br />
	&nbsp;</li>
	<li><strong>Abolishing stamp duty is a key commitment to deliver a Fresh Start for Queensland and restore a place to call home for more&nbsp;Queenslanders, easing the Housing Crisis.&nbsp;&nbsp;</strong></li>
</ul>

<hr />
<p>The Crisafulli Government has announced abolishing stamp duty on new homes for first home buyers will be the first action of Parliament this year, delivering major cost of living relief to Queenslanders.&nbsp;&nbsp;</p>

<p>The move will pave the way for thousands of first home buyers to save on upfront transaction costs, unlocking home ownership for more Queenslanders while also boosting housing supply across the State.&nbsp;</p>

<p>In the last decade, Queenslanders were locked out of the housing market with the state recording the lowest rate of home ownership of any state in the nation.&nbsp;</p>

<p>Abolishing stamp duty on new homes for first home buyers is just one of the actions the Crisafulli Government is taking to boost home ownership, including unlocking underused church and charity owned land for community housing, removing restrictions preventing first home buyers renting out rooms and kickstarting new development with a $2 billion investment in housing infrastructure.&nbsp;</p>

<p>A first home buyer purchasing a new house and land package in Toowoomba at the median price could save $24,730.&nbsp;</p>

<p>First home buyers would save $29,500 when purchasing a new build at the median price in Brisbane east, while in Logan-Beaudesert, they would have keep $6960 in their pocket.&nbsp;</p>

<p>Premier David Crisafulli said every Queenslander should have a place to call home.&nbsp;&nbsp;</p>

<p>“We are unlocking more homes for more Queenslanders, more quickly,” Premier Crisafulli said.&nbsp;&nbsp;</p>

<p>“For far too long, stalling housing approvals and skyrocketing housing prices have shut the door on Queenslanders walking into their own home.&nbsp;</p>

<p>“For the past decade, the dream of home ownership has become a nightmare for Queenslanders.”&nbsp;</p>

<p>Treasurer and Minister for Home Ownership David Janetzki said the LNP would put Queensland back on top of the home ownership ladder within a decade.&nbsp;&nbsp;</p>

<p>“Queenslanders are losing hope in the Great Australian Dream of home ownership and the situation has never been more dire for young people wanting to purchase their first home,” he said.&nbsp;</p>

<p>“Never before have so many young Queenslanders wanted to own a home, and never before have so many believed it is out of reach.&nbsp;</p>

<p>“The Crisafulli Government is delivering a fresh start for Queensland, and we are boosting housing supply to increase Queensland home ownership rates.&nbsp;</p>

<p>“Scrapping first home buyer stamp duty on new builds provides real savings and puts the Great Australian Dream back within reach.”&nbsp;</p>


First home buyers to pay no stamp duty on new property in QLD Gov shakeup

<p>CDG Group’s landmark Melbourne apartment development, Victoriana, has captured the attention of first home buyers.</p>

<p>According to data from MatterFact, the new data product by Apartments.com.au, first home buyers have consistently been the most engaged buyer group, surpassing downsizers and rightsizers in enquiries over the past six months.</p>

<p>Feedback from buyers highlights the quality of the finishes and the development’s prime location as its key attractions.&nbsp;</p>

<p>[smartcode_project:default project_id=1979 project_image_fid=78690]</p>

<p>Designed by <a href="/architects/rothelowman">Rothelowman</a> and completed in 2021, <a href="/buildings/victoriana-melbourne-20-queens-road-melbourne">Victoriana</a> features cascading terraces and vertical gardens which are designed to harmonise with the surrounding Albert Park Lake and Fawkner Park.</p>

<p>Located on Queens Road, between the two famous parks and just off St Kilda Road, Victoriana comprises 250 one, two, three and four-bedroom apartments across 16 levels.</p>

<p>First home buyers have shown the greatest interest in the two-bedroom apartments, which start at over 70 sqm and feature two bathrooms, a balcony off the open-plan kitchen, living, and dining area, and a master bedroom with an ensuite.</p>

<p>[smartcode_project:default project_id=1979 project_image_fid=300488]</p>

<p>Victoriana also includes an extensive range of amenities that rival those of a luxury hotel.&nbsp;Residents will have access to concierge services, a heated indoor pool, steam room, sauna, state-of-the-art gym, and a lounge and garden terrace with views of the&nbsp;<a href="/developments/melbourne-vic-3004">Melbourne</a>&nbsp;skyline.&nbsp;</p>

<p>[smartcode_project:default project_id=1979 project_image_fid=78667]</p>

<p>Positioned on the fringe of Melbourne's CBD, Victoriana provides direct access to Albert Park Lake and proximity to St Kilda Road trams and the upcoming Anzac Railway Station.&nbsp;</p>

<p>This combination allows residents to enjoy both vibrant city living and tranquil parkland surroundings, a rare offering for buyers entering the property market.</p>

<p>Nearby attractions include South Melbourne Market, the Royal Botanic Gardens, and Melbourne's vibrant arts precinct.</p>

<p>Qualifying buyers of the two-bedroom apartments won't have to pay a deposit, and could save with a lower interest rate and reduced LMI.</p>

<p>[smartcode_project_cta:default project_id=1979]</p>


Qualifying buyers of the two-bedroom apartments won't have to pay a deposit, and could save with a lower interest rate and reduced LMI

First home buyers jump at Victoriana apartments on Melbourne's Albert Park

<p>First home buyers in Victoria and Queensland are increasingly willing to stretch their budgets, surpassing spending trends seen in New South Wales.</p>

<p>While affordability remains a key consideration, data from November and December reveals a growing willingness among first-time buyers in these states to invest more in their first property.</p>

<p>In contrast, in New South Wales, where <a href="/developments/sydney-nsw">Sydney</a> is consistently ranked among the least affordable cities globally, first home buyers are primarily focused on apartments priced between $600,000 and $1 million.</p>

<p><a href="/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, above the Crows Nest Metro station, has attracted significant demand for its one-bedroom apartments that are priced just under $970,000, while the completed apartments in <a href="/buildings/the-grand-residences-eastlakes-16-evans-avenue-eastlakes">The Grand</a> Eastlakes offer an attractive entry at $745,000.</p>

<p>[smartcode_project:default project_id=7652 project_image_fid=291042]</p>

<p>First home buyers in Queensland, mainly Brisbane and the Gold Coast, are increasingly willing to spend over $1 million, particularly for larger homes or apartments in sought-after suburbs.</p>

<p>A prime example is <a href="/new-apartments/citrine-townhomes-rochedale-311-gardner-road-rochedale">Citrine</a>&nbsp;in <a href="/developments/rochedale-qld-4123">Rochedale</a>, where buyers can secure three or four-bedroom townhouses priced between $1 million and $1.5 million.</p>

<p>[smartcode_project:default project_id=136295 project_image_fid=273135]</p>

<p>In the hot Gold Coast new apartment market, buyers are also willing to exceed the $1 million mark, as seen at <a href="/new-apartments/flourish-on-sixth-ave-6-12-sixth-avenue-palm-beach">Flourish on Sixth</a>, the newly released development by Sherpa in Palm Beach.</p>

<p>This development offers some of the most affordable apartments the area has seen in years.</p>

<p>One-bedroom apartments initially listed under $600,000 sold quickly, while two-bedroom units, previously priced in the mid-$800,000s, are now listed just above $1 million — still offering incredible value in one of the Gold Coast's most desirable suburbs.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=306036]</p>

<p>In Victoria, while entry-level apartments remain more affordable compared to Queensland and New South Wales, first-home buyers are still opting to spend more for better properties.</p>

<p>The most popular price range for first-time buyers in Victoria is $400,000 to $1 million, but, similar to Queensland, many are willing to stretch their budgets for more desirable options.</p>

<p><a href="/new-apartments/kindred-mentone-25-brindisi-street-mentone">Kindred Mentone</a>, with its architecturally striking townhouses south of Bayside, has been a standout choice for many first home buyers in this price range.</p>

<p>[smartcode_project:default project_id=138768 project_image_fid=214857]</p>

<p>Another popular project in recent months is New Johnston in <a href="/developments/abbotsford-vic-3067">Abbotsford</a>, which offers a range of apartments in the $400,000 to $1 million bracket.</p>

<p>Located at 398-400 Johnston Street, near Victoria Park Station, this development consists of 58 one, two, and three-bedroom apartments across nine levels, with ground-floor retail spaces.</p>

<p>[smartcode_project:default project_id=110322 project_image_fid=259899]</p>

<p><a href="/new-apartments/new-johnston-abbotsford-400-johnston-street-abbotsford-vic-3067">New Johnston</a>, currently under construction by Valeo Constructions, is expected to be completed by late 2025.</p>


First home buyers prepared to spend more in VIC, QLD, than in NSW

<p>First home buyers in Melbourne have a fantastic opportunity to enter the property market, benefiting from some of the most attractive purchasing incentives available in Australia.</p>

<p>Unlike many other states, the calculation of stamp duty in Victoria isn't straightforward. In places like New South Wales, any apartment under a set threshold of $800,000 incurs no stamp duty, effectively excluding most apartments within a 15-kilometre radius of Sydney. In contrast, many one-bedroom apartments in Melbourne’s inner city are priced below $750,000, opening up more possibilities for buyers.</p>

<h2>Why is now an opportunity for first home buyers?</h2>

<p>Currently, first home buyers in Melbourne find themselves in a favorable position, as they are not competing with investors for off-the-plan apartments. While most boutique developments focus on larger two- and three-bedroom units, many high-rise buildings—over 20 levels—feature entry-level apartments that are ideal for first-time buyers.</p>

<p>Moreover, some developers are offering flexible contract terms, including negotiable five percent deposits. There’s also positive economic news, with inflation showing signs of decline, potentially paving the way for the Reserve Bank of Australia to lower interest rates in 2025.</p>

<p>In the off-the-plan market, buyers won’t start paying their mortgage until the apartment is completed. Therefore, it's crucial to consider expected interest rates at that future time rather than the current rates. Market forecasts suggest <a href="/expert-insights/buying/markets-price-in-four-rba-rate-cuts-in-next-12-months-what-it-means-for-the-off-the-plan-apartment-market">four cuts in the next 12 months</a>. When rates decrease, entry-level apartments will become more appealing to investors—who typically have more capital than first home buyers—leading to increased competition.</p>

<h2>What does the data say?</h2>

<p>Data from <a href="https://industry.urban.com.au/data-insights">MatterFact</a>, Apartments.com.au's new data product, indicates strong demand from first home buyers in 2024.</p>

<p>Over 40 percent of inquiries in Melbourne this year have come from this demographic, down from 50 percent in 2023.</p>

<p>This slight decline is primarily due to changing apartment configurations but demonstrates that interest rates have not significantly deterred first home buyers.</p>

<h2>How do I calculate what I can save?</h2>

<p>First home buyers in Victoria can take advantage of two key incentives: the First Home Owners Grant (FHOG) and stamp duty concessions. The FHOG offers $10,000.</p>

<p>Calculating stamp duty can be a bit complex. It’s based on the apartment's price minus the construction cost in the contract. The dutiable value is applicable when this figure is between $600,000 and $750,000, allowing for potential duty concessions.</p>

<p>For the most current information on concessions and eligibility, it's best to visit the State Revenue Office website.</p>

<h2>What can I buy?</h2>

<p>With the high threshold to receive concessions, there are plenty of opportunities to buy all across Melbourne.</p>

<p>We've wrapped up the best opportunities for first home buyers across Melbourne.</p>

<h2>What: Fareham, St Kilda</h2>

<h3>Where:&nbsp;95 St Kilda Road, St Kilda VIC 3182</h3>

<h3>Who:&nbsp;Gamuda Land</h3>

<p>Fareham in St Kilda has a handful of one-bedroom apartments in the 16-level building on St Kilda Road that has been designed to be one of the greenest in Melbourne.</p>

<p>[smartcode_project:default project_id=137950 project_image_fid=281446]</p>

<p>The 73-unit project is set to achieve a 7.5-star NatHERS rating, supported by renewable energy sources and eco-friendly features like EV charging and secure bike parking.&nbsp;</p>

<p>With a focus on integrating nature into urban living, Fareham offers bay views, a communal rooftop, and extensive landscaping.</p>

<p>[smartcode_project:default project_id=137950 project_image_fid=281448]</p>

<p>First-home buyers can benefit from the long construction timeline, offering more time to save, while the energy-efficient design lowers long-term costs.&nbsp;</p>

<p>Prices for one-bedroom units remain competitive compared to the growing Melbourne market.</p>

<h2>What: BLVD at Melbourne Square</h2>

<h3>Where:&nbsp;19 Hoff Boulevard, Southbank VIC 3006</h3>

<h3>Who:&nbsp;OSK Property</h3>

<p>BLVD is the latest addition to Southbank's burgeoning Melbourne Square precinct, offering a 73-level skyscraper with just under 600 apartments.&nbsp;</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214124]</p>

<p>Designed by COX Architecture, it focuses on wellness and connectivity, with extensive amenities such as an indoor pool, gym, sauna, and work-from-home facilities.&nbsp;</p>

<p>BLVD caters to first-home buyers by offering a low deposit requirement and extensive wellness-focused amenities, ensuring comfort and practicality for urban living.&nbsp;</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214126]</p>

<p>One-bedroom units are priced from $611,000.</p>

<h2>What: Melbourne Square</h2>

<h3>Where:&nbsp;93-119 Kavanagh Street, Southbank VIC 3006</h3>

<h3>Who:&nbsp;OSK Property</h3>

<p>OSK Property still has some apartments remaining in an earlier stage of Melbourne Square.</p>

<p>The remaining two and three-bedroom apartments are well-suited for first home buyers looking to secure property in Southbank, where prices start from $769,100 for two-bedroom units.&nbsp;</p>

<p>[smartcode_project:default project_id=2929 project_image_fid=200840]</p>

<p>The completed tower includes a range of amenities such as a 50-metre swimming pool, gym, and communal dining spaces.</p>

<p>&nbsp;</p>

<h2>What: FOCUS</h2>

<h3>Where:&nbsp;81 City Road, Southbank VIC 3006</h3>

<h3>Who:&nbsp;Central Equity</h3>

<p>FOCUS offers completed, ready-to-move-in apartments in a 50-level tower in Southbank.&nbsp;</p>

<p>One-bedroom apartments at FOCUS start from $629,000, offering a great entry to the market for first home buyers.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=3260 project_image_fid=212294]</p>

<p>The development includes amenities such as a heated pool, gym, cinema room, and resident dining areas.</p>

<p>First-home buyers can benefit from the immediate availability of apartments, combined with competitive pricing that qualifies for the First Home Owner Grant.&nbsp;</p>

<p>The central location also makes it an attractive option for those wanting to be near the city's amenities.</p>

<h2>What: Parkhill Apartments, West Melbourne</h2>

<h3>Where:&nbsp;408 Spencer Street, West Melbourne VIC 3003</h3>

<h3>Who:&nbsp;Central Equity</h3>

<p>Parkhill Apartments offer some of the most price-pointed apartments on the market.</p>

<p>The one-bedroom apartments start from $519,000 in the recently completed building on the fringe of Flagstaff Gardens.&nbsp;</p>

<p>[smartcode_project:default project_id=27406 project_image_fid=288622]</p>

<p>The development features a rooftop gym and garden, secure parking, and durable, premium fixtures.</p>

<p>Parkhill’s reasonable price points, combined with its location near education hubs and public transport, make it a strong choice for first home buyers.&nbsp;</p>


First home buyers in Melbourne are in a unique position now as they're not currently competing with investors for apartments

The advantages of buying off the plan apartments for first home buyers in Melbourne

<p>The COVID-induced boom changed the face of the off the plan apartment market in the Gold Coast.</p>

<p>Since the start of 2020 when various lockdowns were in place on both a state and federal level blocking those coming and going form Australia, the Gold Coast market has been one of the strongest property markets in the country.</p>

<p>As the country got back to normal and borders reopened, demand didn't wane. However, one of the biggest changes in the new development market is the type of apartments being developed in the <a href="/new-apartments/gold-coast-qld">Gold Coast</a>.</p>

<p>All but gone are the large skyscrapers, barring a few from Harry Triguboff's <a href="/developers/meriton">Meriton</a>. Now in vogue is half and full-floor apartments, catering to the local downsizer and affluent southern state dweller either looking for a tree change or a future retirement apartment on or near the beach.</p>

<p>The change in dwelling make-up has pushed first home buyers out of the market. The median price of a unit in the Gold Coast has also soared over the past few years. Now over $800,000, the median unit price is only just behind that of Sydney ($859,000).</p>

<p>The increase in prices, dwelling change, and quickfire increase in the interest rates, pushed first home buyers out of the market. Or so it seemed.</p>

<p>Data from MatterFact, the new data product from Apartments.com.au, shows a huge willing from first home buyers in 2024. A third of enquiry&nbsp;on Urban across the <a href="/developments/gold-coast-qld">Gold Coast</a> in 2024 has been from first home buyers. They've even out-enquired investors.</p>

<p>Across 2023 first home buyers made up 30 per cent of enquiry, and 2022 and 2021 it was less than 15 per cent.</p>

<p>While there's been a significant shift in apartment configurations on offer, there are still some opportunities for first home buyers, however&nbsp;they need to act fast in most circumstances.</p>

<p>With the cost of construction, and the low returns for one-bedroom apartments compared to three and four-bedroom apartments, developers just aren't creating a meaningful number of one bedrooms within their developments.</p>

<p>We've had a look at what Gold Coast apartment developments have options for first home buyers.</p>

<h2>What: Flourish Palm Beach</h2>

<h3>Where:&nbsp;6-12 Sixth Avenue, Palm Beach QLD 4221</h3>

<h3>Who:&nbsp;Sherpa Property Group</h3>

<p>Prominent Gold Coast developer, <a href="/developers/sherpa-property-group">Sherpa Property Group</a>, is one of few developers championing affordability with their new collection of apartments.</p>

<p>They've created a new brand, Flourish, which will cater to a wide range of buyers, including first home buyers.</p>

<p>Their first installment of apartments under Flourish is <a href="/new-apartments/flourish-on-sixth-ave-6-12-sixth-avenue-palm-beach">Flourish Palm Beach</a>, 94 apartments across a 13-level building with some of the entry-level unit prices in the $600,000's.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=296026]</p>

<p>Located at 6-12 Sixth Avenue, Flourish Palm Beach will still have all the bells and whistles of a modern development, with a resident pool, barbecue areas, and garden retreats as part of the building.</p>

<p>With just 10 one-bedroom apartments on offer, first home buyers will have to act fast to secure one.</p>

<h2>What: Ombre Robina</h2>

<h3>Where:&nbsp;46 Scottsdale Drive, Robina QLD 4226</h3>

<h3>Who:&nbsp;Immerse Projects</h3>

<p><a href="/developers/immerse-projects">Immerse Projects</a> is also catering to a wide demographic at its <a href="/new-apartments/ombre-robina-46-scottsdale-drive-robina">Ombré Robina</a> development, with a mix of 95 one, two and three-bedroom apartments.</p>

<p>The one-bed units, which have two living areas, are priced from $749,000</p>

<p>[smartcode_project:default project_id=143341 project_image_fid=251418]</p>

<p>Ombre's amenities include a pool, residents' lounge, and landscaped outdoor areas.</p>

<p>Construction at Ombre Robina started in June. Builder <a href="/builders/greyburn">Greyburn</a> is forecasting a late 2025 completion.</p>

<p>Over 50 per cent of the apartments have been snapped up. More than 70 per cent of purchasers so far have been local.</p>

<h2>What: LAANI Mermaid Beach</h2>

<h3>Where:&nbsp;26-28 Alexandra Avenue, Mermaid Beach QLD 4218</h3>

<h3>Who:&nbsp;Dankav Developments</h3>

<p>A handful of the one-bedroom apartments at Dankav's under-construction <a href="/new-apartments/laani-26-28-alexandra-avenue-mermaid-beach">LAANI</a> at <a href="/developments/mermaid-beach-qld-4218">Mermaid Beach</a> are priced at $780,000.</p>

<p>Rarely is there an opportunity to buy a new one-bedroom apartment in Mermaid Beach, with the suburb dominated by luxury beachfront homes and high-end, boutique new developments that are more likely to be priced from upwards of $2 million.</p>

<p>[smartcode_project:default project_id=6997 project_image_fid=185191]</p>

<p>LAANI, on Alexandra Avenue bordering <a href="/developments/broadbeach-qld-4218">Broadbeach</a>, comprises just 46 apartments across an 18-level building designed by BDA.</p>

<p>LAANI features a string of hotel-style amenities including a&nbsp;heated pool, gym, sauna, cinema room, and communal workspaces.&nbsp;</p>

<p>&nbsp;</p>

<h2>What: 180 one &amp; two-bedroom apartments</h2>

<h2>Where:&nbsp;20 Queen Street, Southport</h2>

<h3>Who:&nbsp;MRCB</h3>

<p>While not yet in market, Malaysian developer <a href="/developers/mrcb">MRCB</a> is set to bring an injection of affordable stock to the Gold Coast.</p>

<p>They recently settled on a well-connected site at 20 Queen Street, <a href="/developments/southport-qld-4215">Southport</a>, currently home of the Sundale Motel, and quickly submitted plans for a 20-level building with 180 apartments.</p>

<p>The 92 one-bedroom and 88 two-bedroom apartments will all likely come in under $1 million.</p>

<p><img alt="MRCB targets untapped affordable Gold Coast apartment sector with new Southport tower" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-27%20at%208.56.13%E2%80%AFAM.png?VersionId=kn.iESyw36jJvXjT5T7_KCX65c_aiD14" /></p>

<p>The development falls in line&nbsp;with the Queensland Government’s Homes for Queenslanders and the Australian Government’s National Housing Accord, aiming to contribute to addressing the national housing crisis by adding much-needed housing stock in a rapidly growing region.&nbsp;</p>

<p>The building will feature amenities such as a pool, gym, and barbecue areas.</p>

<p><a href="/developers/mrcb" target="">MRCB</a>&nbsp;International Sales and Marketing Director, Kevin Zhang, said the&nbsp;Southport development is aimed at capitalising on the prime location.</p>

<p>“The north-facing apartments will have unobstructed views of Broadwater, while residents will also enjoy easy access to all the popular dining, entertainment and shopping precincts of the central Gold Coast right at their doorstep, with access to the light rail.”</p>


The increase in prices, dwelling change, and quickfire increase in the interest rates, pushed first home buyers out of the market. Or so it seemed.

How first home buyers can still get into the off the plan apartment market in the Gold Coast

<p>Housing affordability is always the hottest topic of conversation in the Sydney real estate market.</p>

<p>Recent research highlights the increasing difficulty for first home buyers to enter the Sydney property market, with projections indicating that housing will remain unaffordable until at least the 2030s.&nbsp;</p>

<p>The study by Dr Mustapha Bangura from the University of Technology Sydney (UTS) and UNSW Sydney Professor Chyi Lin Lee found that neither median part-time nor full-time incomes are sufficient to purchase property anywhere in Greater Sydney without additional financial support.</p>

<p>Developer <a href="/developers/australia-ymci-pty-ltd">Australia YMCI</a>&nbsp;(AYMCI) is offering affordable apartments, under the threshold for full stamp duty concessions, at its Sydney Olympic Park development, <a href="/buildings/ruby-apartments-lidcombe-1-kingfisher-street-lidcombe">Ruby Apartments</a>.</p>

<p>[smartcode_project:default project_id=143641 project_image_fid=274364]</p>

<p>A handful of the final apartments left in the completed development are under $800,000, which means first home buyers pay no stamp duty through the NSW Government First Home Buyers Assistance Scheme.</p>

<p>“We are committed to providing affordable apartments and projects designed to integrate convenience and luxury, offering residents unparalleled access to transportation options and community amenities,” said Australia YMCI Director Jason Tan.</p>

<p>"We understand the challenges many first-home buyers face in today’s market. Our goal is to provide affordable and quality housing options that do not compromise on luxury or convenience."</p>

<p>&nbsp;</p>

<p>The two-bedroom apartments under $800,000 each have two bathrooms, one an ensuite with a deep bath tub, an integrated study nook that can comfortably fit a sofa bed, and a parking space.</p>

<p>[smartcode_project:default project_id=143641 project_image_fid=283189]</p>

<p>Located near Accor Stadium and Qudos Bank Arena, Ruby Apartments also benefit from proximity to a vibrant hospitality strip and future developments around Olympic Station, which is set for a $585 million investment.</p>

<p><em>Read more:&nbsp;<a href="/news/nsw/new-nsw-gov-stimulus-draws-buyers-to-sapphire-apartments-in-sydney-olympic-park">New NSW Gov stimulus draws buyers to Sapphire Apartments in Sydney Olympic Park</a></em></p>

<p>Sydney Olympic Park features numerous parks and green spaces, creating a diverse and expansive environment for recreation and leisure. Notable parks within the area include Bicentennial Park, Blaxland Riverside Park, Wentworth Common, and the Badu Mangroves.</p>

<p>[smartcode_project:default project_id=143641 project_image_fid=289363]</p>

<p>The broader Sydney Olympic Park area contains various smaller parks, wetlands, and conservation zones, all contributing to its rich biodiversity and outdoor activities.</p>

<p>The future is also bright for Sydney Olympic Park. The NSW Government has put together a 2030 Master Plan that will revitalize the area with a&nbsp;new town centre, educational facilities, shopping precinct, new homes, more jobs, increased open space, increased community facilities and facilitation of a new Metro station.</p>

<p>There are also plans being drawn up for Master Plan 2050, given the population of Sydney Olympic Park is expected to jump from 3,700 to nearly 30,000.</p>

<p>[smartcode_project_cta:default project_id=143641]</p>


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