Gold Coast-based developer <a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a> has lodged a Development Application for a landmark $120 million precinct set to transform the southern gateway of the much-loved Spit.

Positioned at the most prominent entry point to the iconic peninsula, the project has been designed with a strong focus on architecture, public space, heritage and connectivity, delivering a revitalised parkland setting that invites locals and visitors to engage with the Broadwater.

Central to The Isles proposal is a significantly upgraded public realm, including landscaped open space, a new waterfront café, and a family-friendly park featuring a naval-themed playground, open lawns and improved pedestrian connections.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="de83a270-6091-4b26-bed0-86f9248e7f9e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%201.jpg?VersionId=vt79HlCOwV9F7eLQe9.Z3bv9JGLMaSP2" />

The design retains and celebrates key elements of the site’s history. The training mast from the vacant and degraded naval cadet building, which forms part of a former Navy minesweeper, will be preserved. The existing Navy Memorial will be relocated and upgraded in collaboration with the RSL, allowing it to be publicly accessible for the first time in years. 
&nbsp; 
Heritage-listed Humphreys Boat Shed remnants will remain and be incorporated into the landscape, while the site’s established Norfolk Pines will be retained, reinforcing the area’s character and sense of place. The enhanced parkland will ultimately create a long-term community asset at the entry to The Spit. 
&nbsp; 
The Development Application (DA) lodged with Gold Coast City Council includes 28 waterfront apartments across three levels, ranging in size from 145sqm to 383sqm, designed as a feature landmark within the precinct and complement the public domain.

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="bbf94e00-b56a-47fb-a15d-3d17b0b1ec76" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%203.jpg?VersionId=A0vmBNE_KohYJo1EoZcmF5IVW4tT5aDo" /> 
&nbsp; 
Ignite Projects Director Josh Foote said the project as a whole had been carefully shaped to deliver a meaningful outcome for the wider community, not just future residents. 
&nbsp; 
“This is about more than delivering opulent apartments – it’s about creating a welcoming and memorable gateway to The Spit that people can enjoy every day,” Mr Foote said. 
&nbsp; 
“We’ve worked hard to ensure the public realm is a central part of the project, from the landscaped parklands and family-friendly spaces through to the preservation and celebration of important local heritage.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="443bbde5-8221-45f8-a549-dad2623df20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%204.jpg?VersionId=iUl6nc.sHkjMdo_1RigwbwUz_celHJ3H" /> 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, The Isles adopts a considered subtropical approach, with the building form shaped to maximise natural light, cross ventilation and views to the Broadwater and surrounding parklands. 
&nbsp; 
Architect Rafael Contreras said the design responded directly to its unique coastal setting. 
&nbsp; 
“Rather than a typical built form, the architecture has been shaped by performance and experience – from optimising outlook and privacy to creating a strong connection to landscape and climate,” Mr Contreras said. 
&nbsp; 
“A central landscaped courtyard allows light, air and greenery to permeate the building, while the articulated façade introduces movement and rhythm inspired by the Broadwater.

“The Isles will create a place where people can gather, relax and connect with the water, while also delivering a refined residential product that responds to its unique setting.”

<img alt="Ignite Projects unveils exciting details of landmark gateway precinct for the Spit" data-entity-type="file" data-entity-uuid="1089570d-1120-4302-9900-fb9f75c75c26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Isles%205.jpg?VersionId=pl9qmKZNbaL3A7XjmD7sjhLwmXaqzzLZ" /> 
&nbsp; 
The DA relates to the residential and public realm components, with a proposed boutique marina to be progressed as part of a future stage, subject to separate approvals. 
&nbsp; 
The Isles is being delivered under The Spit Master Plan, a collaborative vision to create a new residential, tourism, leisure, natural environment and cultural heritage hub on the iconic and much-loved peninsula.&nbsp; 
&nbsp; 
Ignite Projects has an established track record delivering premium residential projects across the Gold Coast, including The Monaco at Main Beach and Cabana at Palm Beach. 
&nbsp; 
Sales for The Isles are expected to commence in coming months from an on-site display suite, with construction targeted to begin later this year, subject to approvals.

Joel Robinson

Ignite Projects unveils exciting details of landmark gateway precinct for the Spit

The Federal Government’s sweeping changes to negative gearing and capital gains tax could trigger an unintended consequence: a surge of investor demand into the new and off the plan apartment sector.

While Treasurer Jim Chalmers has framed the reforms as a way to improve housing affordability and rebalance the tax system, the carve-outs for newly built housing are already positioning off the plan apartments as one of the few remaining tax-effective property investment plays.

Under the changes handed down in the Federal Budget, investors purchasing established properties after budget night will no longer be able to access negative gearing benefits. The Government will also replace the long-standing 50 per cent capital gains tax discount with a new inflation-indexation model and introduce a minimum 30 per cent tax on gains from July 2027.

However, there is a major exemption.

Investors buying new builds, including off the plan apartments, will still be eligible for negative gearing and will be able to choose between retaining the current 50 per cent CGT discount or adopting the new indexed model.

That distinction is expected to reshape investor behaviour almost immediately.

For years, established housing has dominated investor purchases because of its perceived lower risk, immediate rental returns and stronger historical capital growth. But with the tax advantages now heavily skewed toward new housing supply, the economics are changing rapidly.

The Federal Government has been explicit about its intent.

“The housing market and tax system are broken,” Chalmers said ahead of the Budget, arguing that existing concessions were disproportionately rewarding speculation rather than supporting housing supply.

The Government says the reforms are designed to encourage investment into new housing rather than established stock, a move aimed at increasing supply during a prolonged housing shortage.

According to the official Budget papers, limiting negative gearing to newly built homes is intended to “better align tax incentives with housing supply objectives.”

For the apartment development sector, particularly the off the plan market, the changes could become one of the strongest investor tailwinds in years.

Developers across Sydney, Melbourne and Brisbane have spent the past two years battling elevated construction costs, higher interest rates and subdued investor confidence. Many projects have struggled to secure sufficient pre-sales to commence construction, particularly in markets heavily reliant on investor demand.

The Budget changes may now alter that equation.

Investors seeking tax-effective property exposure will increasingly find themselves funnelled toward newly built apartments simply because established dwellings no longer offer the same benefits.

Commonwealth Bank described the reforms as one of the most significant shifts to residential property investment settings in decades, noting that the package is centred around “limiting negative gearing for residential property to new builds” while replacing the existing CGT framework.

That could have profound implications for the apartment sector.

Off the plan apartments already hold several advantages for investors. Purchasers typically secure a property at today’s price while settlement occurs years later, allowing time for capital growth and reducing the upfront capital burden. Brand-new apartments also generally attract depreciation benefits, lower maintenance costs, and stronger appeal to renters seeking modern amenity.

Now, they may also become one of the only residential property types still offering the full suite of historical tax advantages.

Industry analysts expect investor demand to increasingly migrate toward projects that can clearly demonstrate strong rental demand, transport connectivity and long-term supply constraints.

The shift is likely to be particularly pronounced in apartment markets already underpinned by structural undersupply, including inner Brisbane, the Gold Coast, parts of Sydney’s Lower North Shore and select Melbourne precincts where new apartment commencements have collapsed over recent years.

The reforms also arrive at a time when apartment supply nationally remains critically constrained.

Australia is already struggling to meet the Federal Government’s target of delivering 1.2 million new homes over five years. Construction feasibility pressures have delayed or shelved thousands of apartments across the country, particularly as building costs remain elevated and financing conditions remain tight.

Critics of the Budget changes argue the reforms could reduce overall investor participation in the housing market and place upward pressure on rents by discouraging investment in established housing.

Some economists estimate the measures could reduce housing supply over the longer term if overall investor appetite weakens.

However, the Government is betting that redirecting investor capital into new housing supply will offset those concerns.

“To continue to incentivise construction of new housing, investors building new residential properties will be able to choose either the 50 per cent CGT discount or the new arrangements,” the Budget papers stated.

That wording has been closely watched by the development industry because it effectively positions new apartments as the preferred investment class within residential property.

For off the plan developers, the reforms could become a powerful sales tool.

Projects that have increasingly relied on owner-occupier demand may once again attract investors seeking to preserve the tax advantages still attached to newly built housing before the July 2027 changes take effect.

The reforms are also expected to sharpen the divide between established and new housing markets.

Rather than a broad investor retreat from property altogether, many analysts expect a redistribution of capital toward sectors still supported by Government incentives.

That could create stronger demand for apartment projects in key urban growth corridors and transit-oriented precincts where population growth, migration and rental shortages remain elevated.

The policy direction also aligns with the Government’s broader push toward increasing housing density in established urban areas.

Across Sydney, Brisbane and Melbourne, planning reforms are increasingly encouraging higher-density apartment development around transport infrastructure and activity centres. By maintaining tax incentives for new housing, the Federal Government is effectively reinforcing that agenda from a taxation perspective.

For apartment developers who have spent years navigating subdued investor confidence, the changes may ultimately become the catalyst that reactivates parts of the off the plan market.

While the broader property sector is still digesting the long-term implications of the Budget, one thing is already becoming clear.

The era of investors buying established apartments and houses primarily for tax advantages may be ending.

But for off the plan apartments, the investment story may just be beginning.

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Investors to flood off the plan apartment market?

Adding to Chatswood’s growing skyline, <a href="https://www.apartments.com.au/new-apartments/the-anderson-chatswood-54-56-anderson-street-chatswood-nsw-2067">The Anderson</a> is grounded in a simple principle: apartment living in a major centre does not have to come at the expense of space and outlook.

Set on Anderson Street in the heart of <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a>, the new residential tower, a collaboration between developers <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a> and <a href="https://www.apartments.com.au/developers/huirong-group">Huirong Group</a> with architecture and interiors by <a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>, will introduce 122 apartments that prioritise generous proportions, considered orientation, and a strong connection to the surrounding heritage precinct.

The design originated from a Design Excellence Competition, where AJC proposed a building that combines suburban-style apartment scale with the density expected in a transport-rich centre. The development will include more than 1,800 square metres of retail and commercial space at street level, landscaped communal roof terraces, and a ground-floor pocket park framed by canopy trees. Together these elements aim to create a building that integrates with Chatswood’s evolving streetscape while maintaining a strong residential focus.

[smartcode_project:default project_id=151353 project_image_fid=353250]

A key driver behind the architecture was the desire to deliver family-sized apartments rarely seen in the Chatswood market. The Anderson includes a mix of one to four-bedroom apartments, with around 35 per cent of the residences configured as three or four-bedroom homes. At the top of the building, two double-storey penthouses span approximately 200 square metres each, reinforcing the project’s emphasis on scale and long-term liveability for both downsizers and intergenerational households.

Orientation and outlook were central to the planning of the building. The apartments are positioned to maximise views to the north and east across Chatswood’s heritage precinct, with upper levels capturing glimpses of the Pacific Ocean. South-facing apartments gain distant views toward the Sydney CBD and Harbour Bridge, while the building’s configuration intentionally reduces western exposure at lower levels to minimise overlooking toward the nearby railway corridor.

The external design references the character of the surrounding conservation area without replicating it directly. A brick podium anchors the building to the street and introduces a series of architectural portals that draw inspiration from the nearby Chatswood Presbyterian Church. Above this base, the tower shifts to a lighter, more open expression defined by horizontal lines and carefully detailed balconies that balance privacy with outward views.

[smartcode_project:default project_id=151353 project_image_fid=353254]

Toward the top of the tower, AJC introduces a distinctive lantern-like element formed by sliding screens. These screens provide both solar shading and privacy while also creating a visual marker for the building within the Chatswood skyline. The feature reinforces the architectural intent of the project, a structure that is visually refined while still responding to the practical requirements of apartment living.

Inside the residences, interior architecture focuses on clear spatial flow and practical everyday use. Open-plan living areas connect directly to large balconies, extending the internal living spaces outward and allowing natural light to move deeper into the apartments. Kitchens are designed as central working spaces with premium appliances and carefully selected materials, positioned to serve both daily living and entertaining.

[smartcode_project:default project_id=151353 project_image_fid=353256]

Bathrooms follow a similarly restrained design language, using refined fixtures and materials to create calm, functional spaces, while wardrobe areas adopt a gallery-style layout with integrated lighting and generous storage. These elements reflect a broader design approach that prioritises clarity, functionality, and durability over decorative gestures.

Positioned just a short walk from Chatswood Interchange, residents will have direct access to rail, metro, retail, and dining. The Metro extension allows travel from Chatswood to Martin Place in approximately 11 minutes, placing the CBD within easy reach for residents while maintaining the convenience of a walkable North Shore neighbourhood.

One-bedroom apartments at The Anderson start from $1,022,000.

[smartcode_project_cta:default project_id=151353]

How AJC designed The Anderson to bring oversized apartment living to Chatswood

<a href="https://www.apartments.com.au/developers/bridgewell-development">Bridgewell Capital</a> has lodged plans for a major mixed-use apartment development in the heart of Maroubra, seeking a significant uplift in height and density controls to deliver 120 apartments and a 120-place childcare centre near Maroubra Junction.

The State Significant Development application, filed through the NSW Government’s Housing Delivery Authority pathway, covers a 3,270 sqm amalgamated site at 251-257 Maroubra Road and 133-135 Garden Street. The proposal includes a concurrent rezoning that would increase the maximum building height from 12 metres to 35.6 metres and lift the floor space ratio to 4.02:1.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the project would replace a mechanic’s workshop and several detached homes with a 10-storey residential building above four basement levels.

The scheme comprises 120 apartments, including 27 affordable housing units to be managed by a community housing provider for 15 years, alongside 203 basement car spaces and 92 bicycle spaces. A childcare centre occupying nearly 900 sqm of floor area would sit at ground level and be capable of accommodating 120 children and 22 staff.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="038a0639-f9e4-4303-8fcc-d43e73fa480f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20pers.png?VersionId=eGBElxmNqJW.YF3JFYgHTnPgAstdyXR3" />

According to the Design Report, the project has been conceived as a “gateway proposal” that responds to Maroubra’s evolving urban character and its proximity to the town centre.

“Designed to complement the character of Maroubra’s town centre, this gateway proposal features a building scale that matches its surroundings,” the report stated.

“It integrates residential units above a ground-level childcare centre, fulfilling the strategic objectives of the Randwick City Council Masterplan.”

The apartment mix is weighted toward larger residences aimed at families and downsizers, reflecting changing demographics in the Randwick LGA and increasing demand for medium-density housing close to transport and amenity.

BKA Architecture said the proposal seeks to reinforce Maroubra Road as a civic spine while improving the pedestrian experience around the site through landscaping and upgraded public interfaces.

“The design capitalises on the following site opportunities: reinforcement of Maroubra Road as a civic spine, enhancement of pedestrian pathways and the public interface via new landscaping, and strong market demand for two and three-bedroom apartments to support families and down-sizers,” the Design Report noted.

<img alt="First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre" data-entity-type="file" data-entity-uuid="ee509779-3c7e-4918-b03d-761c785459d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bridgewell%20site.png?VersionId=eZC4Ruyn.C7O.Qwfr1SVeP5.ds1c5.66" />

The building has been designed with setbacks and articulation intended to transition between the commercial intensity of Maroubra Junction and the surrounding lower-scale residential neighbourhoods. Communal open space is proposed on level one, while upper-level apartments would secure views towards Port Botany, Maroubra Beach and Sydney’s eastern suburbs.

The development sits around 200 metres east of the Maroubra Junction intersection of Anzac Parade and Maroubra Road, within one of Randwick’s identified strategic centres. The site is close to Pacific Square Shopping Centre, major bus routes, schools, parks and future cycling infrastructure proposed under the Maroubra Junction Masterplan.

The Maroubra proposal aligns with broader NSW Government initiatives encouraging higher-density housing near established centres and transport corridors, particularly where affordable housing is incorporated.

Bridgewell is also working on a <a href="https://www.apartments.com.au/news/qld/goldfields-sets-the-stage-as-quartet-milton-launches">new 55-unit project in Killara</a>.

First look: Bridgewell plots 120 apartments and childcare centre in Maroubra town centre

National diversified developer <a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has launched its latest Brisbane apartment project, <a href="https://www.apartments.com.au/new-apartments/quartet-milton-33-manning-street-milton-qld-4064">Quartet Milton</a>, marking its entry into the sought-after inner-city suburb just two kilometres from the CBD.

The circa $100 million development will rise 18 storeys and deliver 131 apartments, offering a mix of one, two-, and three-bedroom residences.

Ideally located on Manning Street, Quartet residents will be within 300 metres of Milton Station, 500 metres from the Milton Ferry Wharf, and a short walk to Milton Markets, the iconic Park Road, as well as a range of breweries and cafés.

[smartcode_project:default project_id=108736 project_image_fid=367993]

Designed by architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and brought to life by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, the building features a simple, gridded façade paired with generous glazing to enhance views, maximise aspect, and capture both sunrises and sunsets from within the apartments and their generously sized balconies.

Residents will have access to a 1,000 sqm rooftop, curated to balance wellness and entertaining, in response to increasing demand for wellness-focused shared spaces.

"We've approached Quartet Milton as a complete lifestyle offering, not just apartments, but a place where the design, amenities, and location all work together in a meaningful way," says Goldfields Managing Director Lachlan Thompson.

"Buyers are looking for that sense of confidence, knowing the vision has been carefully thought through not just by us as developers, but by all our consultants appointed to bring this together, and that it will be delivered to the standard they expect."

[smartcode_project:default project_id=108736 project_image_fid=368000]

Cera Stribley Co-Founder and Managing Principal Domenic Cerantonio said the rooftop is designed to feel like a place "you'd genuinely use every day."

"A 25-metre pool framed by city and mountain views, wellness areas, and private dining spaces for evenings with friends create a setting designed for year-round comfort and effortless Brisbane living."

[smartcode_project:default project_id=108736 project_image_fid=367999]

In addition to the 25-metre pool, the rooftop will include a sauna, cold plunge, fully equipped gym, and zen gardens, all complemented by panoramic views of the city and river.

While the building is expected to appeal predominantly to owner-occupiers, Goldfields anticipates interest from investors seeking strong rental returns, driven by the project's design, location, and the city's projected capital growth in the lead-up to the 2032 Brisbane Olympics.

[smartcode_project:default project_id=108736 project_image_fid=367991]

<a href="https://www.apartments.com.au/developments/milton-qld-4064">Milton</a>, widely regarded as one of Brisbane's most desirable inner-ring suburbs due to its lifestyle offering and proximity to the CBD, has experienced a shortage of new apartment supply in recent years.

Goldfields is already active in the Brisbane residential market through its Ripley Valley masterplanned community, Hayfield. The 109-hectare neighbourhood is already home to more than 300 families and features a large community park.

Plans for the precinct include a 4 km running track, future schools, and retail and commercial amenities, all within a 35-minute drive of the Brisbane CBD.

Goldfields also plans to deliver a new mixed-use tower at 88 Robertson Street in Fortitude Valley, within the James Street precinct. The project will include 16,000 sqm of boutique commercial space, a level of wellness facilities, and a rooftop restaurant and event space, akin to Goldfields House in South Yarra, its flagship mixed-use development on Chapel Street, which is crowned by the Beverly Rooftop bar, one of Melbourne’s best-known venues.

[smartcode_project_cta:default project_id=108736]

Goldfields sets the stage as Quartet Milton launches

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

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

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Located out in Sydney’s west is the suburb of Mount Druitt. Serviced by a sizeable train station, a hospital, a Westfield (including an external 24 hour K-Mart, a drive through Starbucks and a number of early payday loan stores and cash converters), schools, a police station and an RTA and well placed between Penrith and Parramatta, it is a confusing blend of amenity and stigma.
<a href="/news">Mount Druitt</a> is some 40 to 45 kilometres away from the CBD, and in the Blacktown Local Government Area, it was once one of the poorest suburbs in Sydney. Locals often use the ‘Mount Druitt’ label to refer to smaller suburbs, including <a href="/news">Whalan</a>, <a href="/news">Bidwill</a>, <a href="/news">Blackett</a> and <a href="/news">Tregear</a>, with the precise suburb itself having around 16,000 people.
Many investors express <a href="https://somersoft.com/forums/showthread.php?t=25651" target="_blank">concerns about tenanting properties in these areas</a> and, given some of the negative media attention it regularly receives (who can forget the death of Kiesha Abrahams, or the 2770 postcodes' 2012 top-of-the-bankruptcy-list ranking), it's unsurprising if perhaps a little unfair.
Certainly, there's graffiti and signs warning that domestic abuse is not tolerated dotted around the main shopping centre. There can also be a sense of discomfort around the station itself, with youths often lounging around this particular meeting point. However, it would be a hard argument to push that the suburb hasn't improved significantly in recent years, and many investors have success in these areas with good renters. While the area is shifting in demographics, and more suited-up professionals can now be seen waiting for the morning city commuter train than ever before, it may take some time for the stigma to wear off.
It has recently seen <a href="https://www.perthnow.com.au/realestate/news/mt-druitt-property-sells-for-more-than-1-million/story-fnhlgrau-1226750563232" target="_blank">its first sale over $1 million</a> – a development opportunity piece of land – and it seems some other properties locally may be creeping closer to this price bracket should demand continue the way it has been since over 2013.
This upwards pressure on prices has been striking. Whalan, for instance, has seen 14.8% growth in the median price of houses over the past year, with RP Data putting the new median at $276,000. Meanwhile, Blackett has seen 12.8% growth, while Tregear has seen 15.5% growth. Bidwill has not changed in value.
These statistics are potentially strong due to both first home buyer, new development and renovation activity (many investors buy worn out older homes in this suburb to cosmetically improve).
Employment statistics
<img src="/images/stories/2014/01/21/comparison_graph.png" alt="comparison_graph" height="248" width="400">
Source: Australian Bureau of Statistics 2011 and 2006 Census Data
Heading towards the Australian Bureau of Statistics' (ABS) census data, the median weekly income for a household in Mount Druitt sits at $1,099, compared to $1,477 for the state. Couple families with children, at 55%, are most dominant. Within these families, it is most likely that one will be working fulltime, at 25.2%, followed by neither working, at 24.6%, followed by both fulltime at 18.4%.
For those unfamiliar with the stigma of suburbs out west, and particularly those in Mount Druitt and surrounding areas (including Rooty Hill), a Facebook page currently exists with the headline “I Agree, Bear Grylls is Tough But Could He Survive a Night in Mount Druitt?” It has 6,427 likes. A <a href="https://www.urbandictionary.com/define.php?term=Mount%20Druitt" target="_blank">quick look at Urban Dictionary</a> reveals a similar line and a 2010 documentary, The Lives of Mount Druitt Youth, asks "What happens when you walk into an area labelled the worst area in Sydney?”
Whether or not it retains this label in 2014 is up for debate, and it is becoming increasingly busy - the inability to park at the Westfield carpark on a weekend in the suburb has become a running joke - with its position near the Lighthorse Interchange (M7/M4) rendering it easily accessible.
A typical property in the suburb as noted by the ABS is a house (48.9%) with three-bedrooms, and likely rented by a family with one car. It’s likely to be either fibro or brick and on a decent sized block of land. For almost 80% of those that are tenants, they will be paying less than 30% of their income on rent.
The NSW government’s Family &amp; Community Services’ Building Stronger Communities strategy has been working for some time on improving the social housing estates across the state, and has flagged Mount Druitt and its small suburbs as an area worthy of attention.
“Mt Druitt is a priority location for this strategy and exciting new improvement plans to revive the social housing areas in Shalvey and Lethbridge Park have been announced,” it currently prioritises.
The suburb is divided informally into ‘old’ and ‘new’ Mount Druitt, with a striking comparison. The train track is largely what divides these two areas apart and, as many who spend time in the suburb will know, so do the prices. In the older section, prices for a five-bedroom family home can be seen up to the $600,000 price point. Meanwhile, in the newer section, the upper limit of house prices is generally $100,000 or more under this price. This may also be to do with the block sizes seen in the newer section.
Investors have swooped in over the past five to 10 years, attracted by the low prices, rental yields and the ability to attach a granny flat to many house blocks to boost this rental income even higher - often into the 9% range, figures usually unheard of around Sydney. Units near the train station have been in particularly high demand from investors, and the suburbs have seen much media attention as 'hotspots' with headlining stories from investment titles, and mainstream media, for two years saying the area has recently emerged as the next place to buy. Mum and dad investors also aren't necessarily going it alone - buyer's agents such as Right Property Group, B Invested and similar have bought in these areas regularly over the past half a decade.
New developments, currently with asking prices of over $330,000 for two-bedroom units, and advertising themselves to first home buyers, attest to the increasing popularity of the area. Residex puts the median house price at $427,000, and the median unit price at $267,000. Properties on the outskirts of the suburb tend to be more expensive, while those down busy arterial roads, such as Luxford Road, tend to be significantly cheaper.
Heading onto the rental listings, it's incredible to see rents in the $300 to $400 range for two bedroom units, where a couple of years ago a reasonably sized rental could be snapped up for around $250. The most expensive rental currently listed is a $500 a week four-bedroom house, with the cheapest being $240 for a studio.
Most expensive rental ($500 per week)  <a href="https://www.realestate.com.au/property-house-nsw-mount+druitt-412270355" target="_blank">16 Tulloona Street</a>
{yoogallery src=[images/stories/2014/01/22/dru1]}
This four-bedroom home (pictured above)  is unusual for the area, with built-ins in every room, two bathrooms, a garage and the master bedroom having an ensuite and balcony. It has ducted air conditioning, a spa bath in the bathroom, an internal laundry and sizeable rooms. It has had 141 page visits, but has been listed for four days this year.
Cheapest rental ($240 per week) <a href="https://www.realestate.com.au/property-unit-nsw-mount+druitt-404629041" target="_blank">40/254 Beames Avenue </a>
{yoogallery src=[images/stories/2014/01/22/drui2]}
There have been 4,978 views on this property (pictured above), according to the listings site, and RP Data notes that it has been listed since mid-January. It has a registered car space and recently had its open for inspection. It also has a balcony, and what appears to be fairly modern fittings for the kitchen and bathroom. It's "near new" and located close to the train station, noting that no pets are allowed. With a tight vacancy rate, put at 1.1% by SQM Research, it's likely rents in the suburb may increase even further, despite more supply being injected into the area.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Suburb spotlight: Mount Druitt may retain hotspot label

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Would you rent this property? For $370 in Darlinghurst this studio could be yours but, be warned, it is a little unusual… particularly when it comes to the toilet. If you're a fan of cooking dinner while performing the final stages of digestion, then we have a treat for you with this property. Pointed out to us by a reader on Twitter, it’s sure to draw some criticism. <a target="_blank" href="https://www.realestate.com.au/property-studio-nsw-darlinghurst-412259795">4b/114 Burton Street, Darlinghurst</a> is a “Freshly renovated, fully furnished studio apartment” that is a ground floor art deco property.
{yoogallery src=[images/stories/2014/01/21/darl]}
Noted as a “streamlined” bathroom with an integrated internal laundry, it’s rather a curious design with transparent walls between the bathroom and the kitchen and, in fact, some aren't sure they would even be happy to take on the curious listing.
<blockquote class="twitter-tweet" lang="en">
<a target="_blank" href="https://twitter.com/JennieDuke">@JennieDuke</a> as an agent I just don't know if I could take on that listing. Professionally I would have to say no. LOL
— Rob (@rman_trebor) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/rman_trebor/statuses/424097569329782784">January 17, 2014</a>
</blockquote>
 It’s available now for rent and the bed even folds away as a space saver. The listing has seen some interest on Reddit, and it isn't the first time curious bathroom layouts have been seen in Australian properties. Property Observer clearly remembers a discussion on the Somersoft forum regarding a property that <a target="_blank" href="https://somersoft.com/forums/showthread.php?s=9a79db1eec5055d4d7f04b915cfd3777&amp;t=81999">had an extra toilet casually placed in the living room</a>, without a mention on the listing as to the reason.
<img alt="shower_in_living_room_jan_21" src="/images/stories/2014/01/21/shower_in_living_room_jan_21.jpg" height="353" width="470">
When asked, the real estate agent said that it hadn't been used by the current family and they used a shelf to keep it covered. It had forum readers creating their own versions of how the floorplan should look. It appears to be the only of this style in the block – where rents vary around the $300 to $400 mark.
RP Data puts the <a target="_blank" href="/news">median Darlinghurst rental </a>at $550 a week, reflecting a 4.4% gross yield.
jduke@propertyobserver.com.au
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A toilet in the kitchen? A strange unit layout

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Keen to take on a renovation project? There are properties across the country calling out for attention and a bit of TLC, and they won’t all break the bank. However, would you buy one of these “renovator’s dreams” where the renovation may cost more than the purchase price? Or would you pass on the opportunity?
Here are five options all for $50,000 or less from around the country. Vote on the house you think you would make the most profit from with a renovation.
1) <a target="_blank" href="https://www.realestate.com.au/property-house-vic-murrayville-115300719">28-30 Sharrock Street, Murrayville, Victoria</a>
This property, on 2,225 square metres, is on a double clock with four-bedrooms, one-bathroom and two carport spaces. It has a large central lounge, separate kitchen with electric cooking and a sun room, as well as ducted cooling and a laundry.
It is asking for $39,000 and is currently under contract. RP Data notes that it last sold for $30,000 in 2002.
{yoogallery src=[images/stories/2014/01/21/mur]}
 
2) <a target="_blank" href="https://www.realestate.com.au/property-house-tas-zeehan-115771699">1 Montana Tram, Zeehan, Tasmania</a>
This $37,000 two-bedroom one-bathroom home, located opposite Trial Harbour and nearby a creek has no immediate neighbours, and has had the local timber used as features within the home. It has its own front verandah.
{yoogallery src=[images/stories/2014/01/21/zee]}
 
3) <a target="_blank" href="https://www.realestate.com.au/property-house-qld-mitchell-115703243">113 Mary Street, Mitchell, Queensland</a>
For $45,000 this piece of Queensland can be yours. With three-bedrooms and one-bathroom, it’s on a significantly sized block of 4,047 square metres. The land was last bought for $7,500 in 1986.
{yoogallery src=[images/stories/2014/01/21/mitch]}
Article continues on next page. Please click below.
 
 
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4) <a target="_blank" href="https://www.realestate.com.au/property-house-wa-norseman-113703991">38 Johns Street, Norseman, Western Australia</a>
 
At $30,000, this fibro/iron house has three-bedrooms and one-bathroom. The living room has a tiled fireplace and it also has a laundry and an undercover carpark. It is on an 842 square metre block. The property last transacted in 2006 for $35,000.
<img src="/images/stories/2014/01/21/1.jpg" width="470" height="353" alt="1">
 
5) <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-broken+hill-112461735">281 Piper Street, Broken Hill, New South Wales</a>
 
Lastly, this Broken Hill house for $50,000 with three-bedrooms and one-bathroom is on 1,012 square metres with a wide frontage. It could be a knock down or a renovation project, according to the listing. It has a pressed metal ceiling in the lounge room and the laundry and toilet are external. The yard has old shedding remaining. It last sold for $27,000 in 2004.
{yoogallery src=[images/stories/2014/01/21/broke]}
 
{module Which of these would you renovate?}
If you have a renovation project you would like to share, email <a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
 
 
 
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Five renovators in need of attention… all under $50,000

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Barangaroo has become a topic of excitement for many, particularly those seeing the development slowly build in Sydney. If you've taken the ferry into the city from the Western Sydney direction recently, it's likely you'll have seen the incredibly quick progress being made on the construction site. And, if you haven't, well then there are these Tweets.
<blockquote lang="en" class="twitter-tweet">
Beautiful views of Darling Harbour from the Barangaroo construction site public toilets! <a target="_blank" href="https://t.co/2ChjKXHn">https://t.co/2ChjKXHn</a> <a target="_blank" href="https://twitter.com/search?q=%23sydney&amp;src=hash">#sydney</a> <a target="_blank" href="https://twitter.com/search?q=%23toilet&amp;src=hash">#toilet</a>
— Toilography (@toilography) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/toilography/statuses/196569185512456192">April 29, 2012</a>
</blockquote>
<blockquote lang="en" class="twitter-tweet">
Lightning strikes over Sydney, Australia! We teamed up with <a target="_blank" href="https://twitter.com/Barangaroo">@Barangaroo</a> to share these views <a target="_blank" href="https://t.co/wuT7aTgLK7">https://t.co/wuT7aTgLK7</a> <a target="_blank" href="https://t.co/J3IAL45mvJ">pic.twitter.com/J3IAL45mvJ</a>
— EarthCam (@EarthCam) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/EarthCam/statuses/414047816655204352">December 20, 2013</a>
</blockquote>
<blockquote lang="en" class="twitter-tweet">
Smokey views across <a target="_blank" href="https://twitter.com/Barangaroo">@barangaroo</a> today. <a target="_blank" href="https://t.co/yEWY9shTMz">pic.twitter.com/yEWY9shTMz</a>
— Richard Evans (@balletbloke) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/balletbloke/statuses/377307205743034368">September 10, 2013</a>
</blockquote>
In 2012, we reported about apartment developments that would<a target="_blank" href="https://www.propertyobserver.com.au/developments/every-apartments-has-harbour-views-as-lend-lease-unveils-two-barangaroo-apartment-blocks/2012112057997"> take full advantage of the Darling Harbour views</a>.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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po-LsXgBTHBmX

A slightly different view of Barangaroo

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According to the latest Rental Report from Australian Property Monitors (APM), the increasing supply of rental properties will continue to affect rental yields in the Eastern capital cities.
While Melbourne has experienced rising rents in houses, with median asking rents increasing by 1.4% in the December quarter, unit rents in the city have weakened, decreasing by 2.8% over the same period. 
APM’s December quarter 2013 report also notes that Melbourne recorded no growth in unit rents over the year. The sluggish unit rental market is attributed in part to the development of new inner city apartments.
The report notes similar conditions in Brisbane. Although both house and unit rents increased over the December quarter, house rents increased by 2.6% over all of 2013, while unit rents have remained flat.
Sydney is still the most costly market for tenants, according to the APM report. Over 2013, house rents have stayed constant, while unit prices have increased by 5.4%, indicating the preference among tenants for inner city locations and affordability. Rental yields for Sydney houses have continued to decrease, due to 2013’s strong rise in investor activity and house prices.
The report expects that increased investment in the eastern capital cities, combined with the construction of new inner city units, will continue to push the supply of rental properties and weaken rental prices.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Rental yields in Sydney, Brisbane and Melbourne to be impacted: APM

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Wollongong appears to be benefiting from Sydney’s property boom, and not surprisingly it came up in one of our reader requests.
According to the ABS, the seaside area has around 190,000 residents, making it New South Wales’s third largest city, behind Sydney and Newcastle.
While the Illawarra city was once a traditional industrial town, Wollongong’s economy has diversified in recent years, due in part to the decline of Australian manufacturing and the presence of the University of Wollongong.
After slowing down over the latter half of 2011 and 2012, the last year has seen the Wollongong property market regain some momentum. The median house price in Wollongong is currently $497,000, 8% up from the previous year, while the median unit price is $374,000, up 9.8% from the previous year.
Dr Andrew Wilson, senior economist at Australian Property Monitors (APM), notes that the Wollongong property market has remained strong in the face of changes to the local economy.
“Wollongong has seen pretty positive results. Growth’s been solid rather than spectacular, and the state and national governments have been very proactive ensuring that the market’s been shielded from the negative impacts of job shedding in the steel industry.”
“It’s shown itself to be quite resilient market, considering the issues to do with confidence.”
In part, he attributes Wollongong’s strong performance in the property market to Sydney’s big year.
“Sydney’s been the strongest capital city market in the last 12 months, and Wollongong has certainly caught some of that Sydney fever.”
“Regional markets [like Wollongong] have been experiencing around 7% price growth over 2013 - about half of what Sydney’s been recorded at over the same period.”
Wollongong provides a welcome lifestyle change for Sydney residents, says Wilson.
“The lifestyle market of the south coast has general appeal, and growth in beachside areas shows the ‘seachange’ or ‘greenchange’ effect.”
McGrath Illawarra principle Jordan Andonovski has also observed the market picking up over the last six months, a trend he expects to continue in the long term.
“It’s been very good. Particularly, the last quarter of 2013 has been very, very active.”
According to Andonovski, prices have been bolstered by increased competition among buyers seeking an alternative to the Sydney property market.
“Comparative to Sydney, properties here are larger and less expensive. People are seeking bigger homes with bigger gardens for their growing families, and they can’t get that in Sydney anymore.”
Indeed, families seem to be having a big impact on Wollongong’s property market.
“We’re seeing buyers upsizing from small units to mid-sized homes as their families grow,” he noted.
“There’s also lots of investment coming in with the university. Late in the year, there were a lot of parents purchasing apartments for their children. They might live there for a few years, and once they move out, their parents will either sell the properties on, or hold on to them for the rental yield.”
The university has also appeared to influence the rental market, with <a href="https://www.illawarramercury.com.au/story/1228360/uow-project-eases-wollongongs-rent-crisis/">reports</a> that the city’s vacancy rate rose in early 2013 due to the university’s launch of its student accommodation facilities. The city’s vacancy rate now sits at 2.4%.
Andonovski expects that as Sydney’s population continues to grow, so too will the influx of non-local buyers, resulting in long term growth for Wollongong’s property market.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank"> jrichardson@propertyobserver.com.au</a>
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Suburb Spotlight: Wollongong on track for stable growth

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After looking at the five most beautiful vacant rentals in Victoria, we set our sights upon New South Wales. While our favourite rental properties in Victoria only included two beachside properties, as expected, in New South Wales, it’s all about the water views.
 
1)<a target="_blank" href="https://www.realestate.com.au/property-house-nsw-bayview-412159103"> 24 Lentara Road Bayview NSW 2104</a>
{yoogallery src=[images/stories/2014/01/15/1]}
Purchased by the current owners in November 2013, this five bedroom home in Sydney’s north displays a seamless integration of indoor and outdoor areas.
The master bedroom, which features a large en suite and walk in robe, opens out onto the house’s raised verandah, as do two of the smaller bedrooms. Glass doors let tenants open up the indoor living spaces, allowing them to spill over onto the deck. Many of the home’s rooms also feature floor to ceiling windows, ensuring clear views to Pittwater and the Tasman Sea.
The one acre property features a large marble-benched kitchen, two lounge and dining areas, a library, a gymnasium and a temperature controlled cellar. Available for $2,500 a week, it also boasts a large pool and tennis court.
 Read more over page
 
 
 
 
 
<hr class="system-pagebreak">
 
2) <a target="_blank" href="https://www.realestate.com.au/property-apartment-nsw-sydney-409991835">129 Harrington Street, Sydney</a>
{yoogallery src=[images/stories/2014/01/15/2]}
This five bedroom penthouse is one of Sydney’s largest, with 630 square metres of indoor and outdoor living spaces, spanning three levels. Dubbed the SkyHouse, the property takes up the 43rd, 44th and 45th floors of Sydney’s the Cove, giving it unparalleled views of the Sydney Harbour Bridge and the Opera House.  While each space in the property is designed to maximise the spectacular view, the best vantage point is the rooftop spa – but if you’re not in the mood, the spa cover also doubles as an illuminated dance floor.
The residence’s cutting edge technology also includes no-key entry, wireless control panels for the penthouse’s cinema, televisions and over 40 speakers, and fully automated toilets with a range of functions.
Each bedroom (one of which is a guest suite with its own separate entrance) in the penthouse comes with an en suite, with two additional bathrooms and a sauna. All that, plus an aquarium, will set a renter back $8,500 a week. The SkyHouse was put up for sale in October 2013, with an asking price of $10m.
 Read more over page
 
 
 
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3) <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-mosman-412008976">28 Hopetoun Avenue Mosman NSW 2088</a>
{yoogallery src=[images/stories/2014/01/15/3]}
The minimalist, bleach-white exterior of this three bedroom home reflects the simplicity and flow of its interior. The house includes an open plan kitchen, dining and living area, with a fireplace, Gaggenau oven and stove, and bespoke seating. There is underfloor heating throughout the house, with remote controlled shutters and blinds ensuring.
A large courtyard punctuates the property, featuring a heated infinity pool perfectly offset by a single frangipani tree. The single large window of the hallway alongside the courtyard extends to the floor, ensuring that the home is flooded with sunlight.
The master bedroom opens directly onto the courtyard, as does the living area. The courtyard itself leads up to a rooftop terrace, where the tenant can enjoy the view over Port Jackson.
This home is currently available to rent for $3,000 a week.
 Read more over page
 
 
 
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4) <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-clareville-411762087">Clareville NSW 2107</a>
{yoogallery src=[images/stories/2014/01/15/4]}
Next on our list is a three story Clareville residence, situated right on the waterfront.
The property’s master suite features its own kitchenette, dressing room, accessories closet and an en suite that extends to the outdoor decking area, with a free standing stone bath.
The rest of the house is no less luxurious, with an iPad-controlled audio-visual system, automated lighting and ducted air conditioning.  It also boasts a steam room which seats six people.  Open living and dining areas feature fully retractable doors, allowing the spaces to fully open up to the outdoors.
Once a tenant is outside, they might enjoy a swim in the gas heated infinity pool, before heading to the outdoor shower. Or perhaps the dedicated meditation hut, surrounded by tropical gardens, would be preferable. The property also comes with an outdoor wood fire pizza oven, extensive parking, and a boatshed and ramp.
 Read more over page
 
 
 
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5) <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-412031919">Barford Bellevue Hill Bellevue Hill NSW 2023</a>
{yoogallery src=[images/stories/2014/01/15/5]}
Our most beautiful vacant rental in NSW will cost you $25,000 a week to rent – a steal, considering it’s been known to go for $40,000 a week for a short term stay over the Christmas holidays.
Barford on Bellevue Hill is steeped in history. The Georgian style mansion was commissioned by Sir Warwick Fairfax in 1929.
Hollywood certainly isn’t immune to the National Heritage listed property’s charms either. Will Smith’s family has reportedly enjoyed Barford’s sprawling grounds, while the rental listing notes that “there is no opportunity for paparazzi to moor outside Barford.”
The main mansion has seven bedrooms, each with its own balcony, seven bathrooms, a cold room, walk-in butler’s pantry, a sitting room, dining room, and cinema room. The fully-furnished interiors are second-to-none, with 3.5m ceilings, two fireplaces, and marble flooring throughout the entry.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
 
 
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The five most beautiful vacant rentals in New South Wales

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With 2014 now in full swing, the new tribunal in New South Wales is underway – called ‘NCAT’ or the NSW Civil and Administrative Tribunal.
It has some key differences to its CTTT counterpart, including a difference process for a rehearing. Instead of applying for a rehearing, you head to the Tribunal’s Appeal Panel, notes The Brown Couch – a tenant’s advocacy blog.
Appeals based on questions of law must be heard, while appeals on other grounds will require some convincing of the tribunal – such as a miscarriage of justice or new evidence that wasn’t previously available.
There is now an eight-fold increase fee for appeals (the new rehearings), which sits at $317, despite the Tenants Union asking for the fee to stay at $38 as it was previously. A $78 fee for if you weren’t at Tribunal also applies if you want the decision to be altered or removed.
There is now also a time limit for making an application to NCAT that hasn’t got a specified time limit already – that is, 28 days from when you become entitled to make an application. This would include things such as applying for occupants to be recognized as tenants.
The Brown Couch notes that they “think imposing a 28-day time limit on these applications could lead to some unreasonable or harsh results, so will be recommending to NSW Fair Trading to specify more reasonable time limits. Until then, make sure you when you make one of these applications that you ask the Tribunal for an extension of time if you're outside the 28 days.”
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au </a>
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New South Wales’ new Tribunal, NCAT, has arrived

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In December of 2012, Property Observer went to the experts to ask for their predictions for 2013. While crystal ball gazing is notoriously difficult, especially when property is concerned, some insights were remarkably accurate. Others, however, were not so much.
See the <a target="_blank" href="https://www.propertyobserver.com.au/news/the-10-insights-into-the-2013-property-market-what-why-when-and-where-to-look/2012121658500/Page-1">original prediction article here</a>.   
1. Sydney to do better, but best NSW prospects still in the regions: Terry Ryder
PREDICTION: 
 Hotspotting.com.au’s Terry Ryder expects the Sydney market to do better in 2013 but still tips a number of NSW regional towns to outperform the capital city. Regional towns, he says, are more affordable and have provided much better capital growth over recent years. He expects the following regional market to continue to outperform Sydney in 2013: Dubbo, Tamworth, Gunnedah, Mudgee, Orange, Goulburn, Albury and Wagga Wagga. For more on capital city vs regional prospects in 2013 watch the full webinar with Terry Ryder.
INCORRECT: 
With Sydney's phenomenal growth last year, it appears the regional areas did not keep pace. See prediction six for a summary of the growth experienced in the year to November 2013, as recorded by RP Data.
Yearly median growth (RP Data): <a target="_blank" href="/news">Dubbo</a>: 3.7% <a target="_blank" href="/news">Gunnedah</a>: 5.1% <a target="_blank" href="/news">Mudgee</a>: 7.9% <a target="_blank" href="/news">Orange</a>: 1.5% <a target="_blank" href="/news">Goulburn</a>: 6.2% <a target="_blank" href="/news">Albury</a>: -4.2% <a target="_blank" href="/news">Wagga Wagga</a>: Data unavailable <a target="_parent" href="/news">Tamworth</a>: Data unavailable  
2. Luxury market to recover first: Janusz Hooker
 PREDICTION:
LJ Hooker deputy chairman Janusz Hooker says a recovery in the housing market is “inevitable”, with the luxury high-end market expected to be the first to enjoy price recovery having been hit the hardest by the downturn. His advice to property investors is to “look for places that went down the most and also watch the big cities – when they move it fans out to the regions usually within six to 12 months”.
CORRECT:
The prestige market above $1.5 million to mid-year was one of the strongest earlier performers, with properties in the most expensive suburbs seeing 4.8% growth to June 2013, compared to slightly softer results in the middle and lower brackets. This may have been partly due to the surge of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/chinese-buyer-surge-in-mosman-prestige-sales/2013020159086">Chinese buyers in suburbs such as Mosma</a>n. However, properties in excess of $3 million were far slower to perform. The bulk of the growth happened in the latter half of 2013, which then saw the middle market outstripping prestige sales. 
 
3. Sydney sub-$750,000 market the strongest as Australia’s “BHP of real estate”: John McGrath
PREDICTION:
McGrath Estate Agents CEO John McGrath says recent weekend clearance rates indicate clearly that the under-$750,000 market is still strongest in Sydney, with McGrath averaging a 69% clearance rate in this bracket, followed by 65% for the $750,000 to $1.5 million sector. "Sydney remains the BHP of Australian real estate – the big blue-chip market that generally outperforms the rest," says McGrath, who predicts a 2% to 5% price rise in the under-$750,000 market and a 5 to 8% rise in the $750,000 to $1.5 million bracket.
UNDERSTATES GROWTH:
Sydney far outperformed the expectations from John McGrath, and he was incorrect that the higher bracket would outperform, with the sub-$750,000 market appearing to just outstrip the prestige sales. RP Data's Cameron Kusher noted that the middle market saw 15.3% increases, while prestige sales clocked in at around 15%.
 
4. Consider the outer suburbs of Adelaide and Brisbane: Margaret Lomas
PREDICTION:
Destiny Financial’s Margaret Lomas says property investors are starting to take a look at the outer suburbs of Adelaide and Brisbane, with activity picking up towards the end of 2012. These were areas where house prices started to move up a little bit in contrast to the rest of the market, which mostly stagnated, she told realestatetalk.com.au.
Note: <a target="_blank" href="https://www.propertyobserver.com.au/south-australia/john-symond-suggests-adelaide-s-outer-northern-suburbs-are-investment-hotspots/2013032660086">John </a><a target="_blank" href="https://www.propertyobserver.com.au/south-australia/john-symond-suggests-adelaide-s-outer-northern-suburbs-are-investment-hotspots/2013032660086">Symond also tipped the some outer Adelaide suburbs for growth</a>, looking to the North in March 2013. 
PARTIALLY INCORRECT:
Australian Property Monitors' Andrew Wilson told Property Observer that where the Adelaide suburbs did well overall this year, despite economic difficulties, Brisbane itself was actually held back by its outer suburbs in its overall growth , being the "problem child" of the city. The outlook for Brisbane's suburbs does, however, look better for 2014.
To see how six other experts fared, see over page
 
 
 
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5. Rent vs buy equation to sway more first-home buyers and renters into the market: Tim Gurner
PREDICTION:
Tim Gurner, director at Melbourne-based property development company Urban Inc, says the buy versus rent equation will sway strongly towards buying in 2013, “so we’re expecting to see a lot of first home buyers and renters return to the market”. Urban Inc is currently developing Alessi in West Melbourne. INCORRECT:
Using Australian Bureau of Statistics data, and comparing first home buyer 2012 and 2013 statistics (January to October statistics, due to November and December currently being unreleased for 2013) we see a marked decline. See the data for yourself <a target="_blank" href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/5609.0Oct%202013?OpenDocument">via these excel spreadsheets available online</a>. The average number of dwellings financed in a month across these months in 2012 was 9,228. In 2013 this dropped to 7,494. Percentage wise of the entire market this was also a marked decrease, from 18.8% in 2012 to 12.9% in 2013.  
6. Perth and Sydney to perform, Brisbane held back by unemployment: Aaron Maskrey
PREDICTION:
Aaron Maskrey, research director at PRDnationwide, expects Sydney to experience steady, but modest growth of around 5% throughout the upcoming year. He says Perth should also be a stronger performer in 2013, with a combination of mining investment and low interest rates helping to shift this market off the bottom of its property cycle. “A conservative estimate of price growth during 2013 would see Perth increase in value by 2%, but such is the swing with this resource affected region, greater market sentiment could give rise to 6% growth." Maskrey says Brisbane finds itself in a similar situation to Perth and would have been included with Perth’s forecasted growth but for the sharp rise in unemployment. “With a rising rate of jobless residents, any potential growth that was initially forecasted for Brisbane is now expected to be temporarily suppressed in early 2013,” he says.
UNDERSTATES GROWTH SIGNIFICANTLY: 
The below table, the latest release to November 2013, provides a fairly good account of the comparable growth in each city. Despite understating growth, he was correct that Perth and Sydney would perform, with Brisbane somewhat suppressed.
<img src="/images/stories/2014/01/13/RPDATA.png" alt="RPDATA" height="206" width="560"> Source: RP Data  
7. A more generic uplift in property prices for Sydney then Melbourne: Matthew Chun
PREDICTION:
Becton CEO Matthew Chun is more bullish on the Sydney property market than Melbourne in 2013. Chun tells Property Observer he expects “meaningful price growth” in Sydney of 4% to 8% with modest growth of 2% to 4% in Melbourne. Chun also expects a more generic recovery across the Sydney market, while Melbourne will be restricted to growth from unique, well-located properties within 10 kilometres of the CBD. “Outside of this zone growth will be flat, and I also don’t expect much growth in the Melbourne apartment market,” he says. Becton's two key projects are Divercity in Waterloo and Newleaf in Bonny Rigg in the west of Sydney.
PARTIALLY CORRECT:
Melbourne's growth figure across 2013 was 6%, according to RP Data, while they put Sydney's growth at 12.5%, higher than Chun's more modest prediction. <a href="/news">Melbourne's inner city unit marke</a>t was 5.2% up in latest statistics. Overall, however, he was right to be more bullish on the Sydney market.    
8. West Melbourne land market has better prospects: Jeff Garvey, director of ID Land
PREDICTION:
Jeff Garvey, director of Melbourne residential developer ID Land, says the outer west growth corridor, which includes suburbs like Truganina and Plumpton, have good prospects, in contrast to the perception that the Melbourne land market is struggling. Garvey says the area is supported by “really big infrastructure projects” including the $5 billion regional rail link running from Southern Cross to Werribee and due for completion in 2016. In addition, Truganina is only 20 kilometres from the Melbourne CBD. INCORRECT: (however much of the intended growth hangs on the 2016 completions.)
Yearly median growth (RP Data): <a href="/news">Truganina</a>: 3.8% <a href="/news">Plumpton</a>: Data Unavailable RP Data's 2013 December roundup explained the following: "House values in Melbourne still remain below their previous nominal peak despite a 6% rise in house values this year."  
9. Don’t expect or wish for the cash rate to reach 2%: Joe Sirianni
 PREDICTION:
Joe Sirianni, executive director at mortgage brokers Smartline, anticipates only one more rate cut in 2013 and says were the cash rate to fall to 2% it would undermine confidence, which he says is the key issue. “We’re living in changing times and the use of interest rate cuts as a lever to stimulate the economy just isn’t having the same impact as it has in the past. Therefore, I think the RBA will realise that there is little point in going much lower with the cash rate.  A cash rate of 2% would be unprecedented in Australia, and I think there’s a danger that if rates were cut to this level, it would un-nerve most people and exasperate the already low levels of confidence,” says Sirianni.
CORRECT:
We finished the year at 2.5%, still a record low.  
10. A modest recovery in new housing in NSW in 2013 with better buying conditions: Craig D'Costa
PREDICTION:
Craig D'Costa, senior development manager of Sekisui House, a co-developer of the $2 billion Central Park project in Sydney, says a recovery in the housing industry will be a key factor in boosting the NSW economy. "The housing industry is forecasting NSW to achieve a modest increase in housing starts for 2013, this comes of the back of government led stimulus for new home buyers with substantial saving in stamp duty and grants. Overall, improved affordability and better buying conditions will underpin home buying activity next year in 2013, with upgraders and investors also likely be very active sectors," he says.
CORRECT:
The Australian Bureau of Statistics' <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/8731.0Nov%202013?OpenDocument" target="_blank">latest building approvals data</a> saw the number of dwellings approved increase in November 2013 in trend terms. This number had risen for the previous 13 months, with every state seeing increases apart from the ACT with a 9% decrease in November. Looking specifically at the number of houses in New South Wales in the private sector, there was also a marked uptick.
jduke@propertyobserver.com.au
 
 
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How 2013's predictions held up: We put them to the test

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On 1 January 2014, the Consumer, Trader and Tenancy Tribunal is to become the NSW Civil and Administrative Tribunal, replacing the CTTT and twenty other resolution tribunals and boards.
The Tenant's Union has been involved through the State Government's NCAT Reference Group, where they note that their efforts have been based around ensuring that the new tribunal provides tenants with the same level of "access to justice" as the CTTT did.
New South Wales Attorney General, Greg Smith, said that this was to simplify the "complex and bewildering" CTTT system and to increase its accessibility.
“The NSW Civil and Administrative Tribunal (NCAT) will be a one-stop shop for almost all state tribunals, ranging from relatively small bodies such as the Chinese Medicine Tribunal through to the much larger Consumer, Trader &amp; Tenancy Tribunal,” said Smith.
It will be different to Tribunals operating in Victoria, Western Australia, Queensland and the ACT as it will be using specialist experts and separating the tribunal out into specialities.
An internal appeals panel will enable quick and accessible reviews of the majority of tribunal decisions.
“Currently there are limited avenues of appeal against the decisions of some tribunals, but all divisions of NCAT will be accountable for their determinations,” Smith said.
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