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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A three-bedroom house in Wyong was the weekend’s cheapest auction sale in Sydney, according to Australian Property Monitors.
Located at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-wyong-115458227">22 Cutler Drive</a>, the house sold for $211,000 through Capital One Real Estate – Gorokan/Wyong.
Listing agent Darren Smith told Property Observer the house sold “under the hammer”, and the auction saw five registered bidders.
He revealed the successful bidder was an investor, who plans to build a granny flat in the yard.
Smith added that the property market in Wyong is “strong” at the moment, and the demand for “affordable” rental properties has increased.
“The market’s rising, especially from the bottom end. We’re in the same situation as say 11 to 12 years ago, where the market’s rising and rents won’t rise as fast as the market rises,” he said.
The house is expected to rent for around $300 per week, while the granny flat is expected to rent for $280 per week, according to Smith.
“But of course they’ll need to tidy the house a bit, build the granny flat, add in some fences and do some repainting first,” he said.
Smith added that the house would rent for around $310 or $320 a week without a granny flat.
He believes the property market in Wyong will continue to rise in 2014.
“You’ll probably find the bottom end of the market will rise about 1% every month; around 12% to 15% for the year,” he said.
Additionally, Wyong has a train station, while an Aldi supermarket is about to open. A Chinese theme park is due to open in 2020, while there is also the potential for a new airport. Smith believes these new infrastructure plans could further expand Wyong’s property potential.
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median house price in Wyong is $317,000, down 7.4% on last year. The average discount required to sell a house is 6.3%, while private treaty sales average 105 days on market.
The median asking rent for houses is $340 per week, while gross rental yield currently stands at 5.6%.
dleow@propertyobserver.com.au
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Sydney cheapie sells for $211,000 to investor, with plans to build granny flat

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Newly listed, George Altomonte's Kirribilli apartment has been listed with harbour and bridge views, and hopes of $8 million plus.
The "house-like" ground floor apartment has uninterrupted views of the Opera House and Sydney Harbour Bridge, as seen in the photos, and as such has a hefty price tag attached.
Altomonte, who established Alto Group, founded his first auto repair shop in Chatswood in the 1960s. He then began breeding stock horses, standing the first ever registered Australian stock horse, named 'Cecil Bruce'. In the 1970s he then began with thoroughbreds, where he purchased the <a href="https://www.corumbenestud.com.au/page.asp?page_id=41" target="_blank">Corumbene Stud at Dunedoo</a> in 1978.
He has been involved in breeding some of the more significant horses in Australia, including Overreach, winner of the Golden Slipper this year. The Daily Telegraph recently noted that said he would not sell the filly for any price.
Whether his success will be repeated in the property market is to be seen. Having been purchased by Altomonte in May 2001 for $4,250,000, the apartment was then briefly listed in January 2011 with $7,500,000 plus hopes before being taken off of the market, according to RP Data.
<a href="https://www.mcgrath.com.au/buy/apartment-kirribilli-nsw-2061/203852/?searchID=34734199" target="_blank">The home, on Kirribilli Avenue</a>, is a three-bedroom, three-bathroom opportunity, with an entertainer's terrace, Gaggenau kitchen appliances, a walk-through wardrobe and two parking spaces. The complex itself features a swimming pool and a gym.
At 256 square metres in total, it has $1,405 per annum council rates and $653 per annum water rates.
This isn't the first thoroughbred owner to list their Kirribilli apartment. In 2011, Property Observer reported that thoroughbred horse owner <a href="https://www.propertyobserver.com.au/new-south-wales/thoroughbred-owner-tony-huang-lists-pedigree-kirribilli-apartment-that-celebrates-the-magic-of-sydney/2011110652225" target="_blank">Tony Huang listed his waterfront Greencliffe apartment</a>... which is also on Kirribilli Avenue.
 
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Horse-powered George Altomonte's Kirribilli apartment listed with bridge views

<html><body>Australian Property Monitors (APM) has released a list of results from 579 auctions in Sydney for the weekend of December 7. The clearance rate was 78.2%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Sydney 579 auction results show a 78.2% clearance rate

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UDIA NSW's president and Urban Taskforce Australia have spoken out against proposed changes to New South Wales' Planning Bill.
At the UDIA NSW’s Annual Christmas Luncheon, UDIA NSW president Simon Basheer expressed his concern at the changes to the planning bill announced on Wednesday.
He believes the changes to the planning bill does not meet its original objectives, to benefit both the community and the industry.
“Once the strategic direction is set within the commmunity and local government…developments have the potential to be held up at the behest of local interest groups who lose sight of the bigger picture of responsible and balanced developments to support population growth and the economic prosperity of New South Wales,” he said. 
The Australian Bureau of Statistics (ABS) have projected that NSW will double its population in 50 years.
In response to the projected population growth, Basheer said, “For this to happen, managed and properly planned growth that provides certainty and delivery within an acceptable timeframes that brings all stakeholders along for the journey is required.”
He added that NSW has the most uncompetitive approval system nationally, directly affecting funding and infrastructure delivery as a result.
The UDIA is currently reviewing the changes “with a fine toothcomb” and will strive to work with all sides of the government to help achieve “the certainty of the community and industry”. 
Not-for-profit developer and equity financier peak body Urban Taskforce Australia said “an interim strategy is needed to keep the state’s housing supply increasing to match demand”.
“The frustration that all in the development and planning industry currently feel over the delay and possible shelving of the proposed Planning Bill must not let industry confidence collapse,” says Urban Taskforce’s chief executive Chris Johnson.
“An interim strategy is now needed to support approvals for new housing while the Government considers a new version of planning reform possibly after the next election in 2015,” he said.
In response, Urban Taskforce has proposed a seven-action strategy to retain confidence in new housing supply, and believe the actions can be achieved within the current planning framework.
Urban Taskforce notes that Sydney needs a pro-growth approach to planning so future generations need not worry about housing.
The interim strategy as produced by Urban Taskforce can be accessed <a href="https://www.urbantaskforce.com.au/images/stories/UTF-NSWNo.1-FINAL.pdf" target="_blank">online</a>.
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UDIA NSW president and Urban Taskforce speak out against proposed changes to NSW Planning Bill

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Sydney’s online property listings increased 12.8% over November to 27,840 properties as the spring selling season hits late.
But Sydney property listings are still 13.4% down from the same time last year.
In Melbourne listings are up 10.7% for the month, down just 0.2% for the year and in Canberra listings are 11.5% up for the month, down 4.2% for the year.
“The spring selling season has hit later in the year than usual, with a market uptick in sales listings – especially in Sydney,” SQM says.
It stands by its September forecast that Sydney would lead the way in terms of a house price recovery but that this would not necessarily be the case for all capital cities, particularly Canberra.
“No doubt, the disruption of the election in September created a lag effect in listings which is coming through now so it is no surprise listings had a large jump in November,” SQM’s Louis Christopher says.
“Plus, we also had five weekends during the month which added to our monthly counts. Seasonally, listing activity is very strong in the later spring months and is the prime reason why there has been a dip in auction clearance rates in recent weeks. So for now I am not concerned about any new slowdown in the market.”
Meanwhile Sydney property services providers are reporting continuing eagerness among Sydney property buyers.
Ramon Mitchell from Intelligent Property Services says two recent sales demonstrate just how strong the Sydney market is.
“To point out the level of growth and eagerness of some buyers to secure their ideal property we can look at the recent sales of two adjoining semi-detached homes in Marrickville,” Mitchell says.
The properties <a href="https://www.domain.com.au/Property/Sold/House/NSW/Marrickville/?adid=2010796046">54 Frampton Avenue</a> (a 287 square metre block) and <a href="https://www.domain.com.au/Property/Sold/House/NSW/Marrickville/?adid=2010667756">56 Frampton Avenue</a> (a 292 square metre block)  are both very nicely presented Victorian Semis with two bedrooms, single bathroom and parking for two cars each via rear lane access.
According to Mitchell, 56 Frampton Avenue sold for $900,000 on the 21st of September and just two months later, the adjoining 54 Frampton Avenue sold for $1 million.
“On as close to an ‘apples with apples’ comparison, dare we suggest that this represents a market movement of 11% in just two months?  While this may seem dramatic, in areas such as Sydney’s inner west, it is, much to the chagrin of many buyers, closer to reality than many might like,” Mitchell says.
“Across the city, and with the Christmas break approaching, buyers are becoming increasingly eager to wrap up their long and exhaustive property search and wind down for the holiday period.
“With the prevailing low interest rates we are seeing buyers paying a premium just to get their foot in the door and we expect the frenetic buying activity to carry right the way up to the Christmas break. We’re seeing agents catering to this by way of auctions scheduled for as late as 21th December whereas, traditionally, most agents would aim to finalise campaigns no later than the first or second weekend of December.”
<a href="mailto:awalsh@propertyobserver.com.au" target="_blank"> </a>
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Sydney listings surge in pre-Christmas rush

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An owner-occupier has snared a rare redevelopment site in Sydney's inner western suburb of Balmain for $7.375 million.  
More than 20 bidders battled it out for the 73-79 Beattie Street property, which was owned by Peter Owen Developments.
"The 1,525 square metre property, which was formerly a number of warehouse and terrace buildings, offered one of the last opportunities to acquire a substantial site on the Balmain Peninsular", said Tim Morrison, principal of Ray White Commercial Inner West and the selling agent. 
There are currently six separate buildings and a car park on the site, which is on 10 separate titles. The purchaser intended to owner-occupy the property.    
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
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More than 20 bidders battle for rare Balmain redevelopment site

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Department store chain Myer has sold auction its carpark in Wagga Wagga in south-west of NSW for $1.15 million. 
The 2,036 square metres vacant land, at 152 Tarcutta Street, was acquired by a local group of investors.
The property accommodates about 65 cars and is currently used as overflow and staff car parking for the Myer Department Store in Wagga Wagga.
The sale was negotiated by Wagga Wagga principal at Knight Frank, Jill Toohey and colleague Scott Turner.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Myer sell Wagga Wagga carpark for $1.15 million

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Sydney’s North Shore has seen increased buyer activity over the last few months, according to local real estate agents, developers, and industry leaders.
The North Shore suburbs include: Roseville, Lindfield, Killara, Gordon, Pymble, St Ives, Turramurra, Warrawee, and Wahroonga.
Australian Property Monitors’ senior economist Dr Andrew Wilson told Property Observer that New South Wales’ middle and upper North Shore is a growth area, and has recorded “around 10% growth generally”. 
“Areas around the St Ives’ vicinity are a solid middle-prestige market. It has residential infrastructure in place, like schools, and are considered leafy suburbs,” he said. 
He added that the nature of the locality has attracted “strong interest from Chinese buyers”. This is likely interest from offshore Chinese buyers. 
Moving into 2014, Dr Wilson believes the North Shore area will continue to “show quite reasonable growth”.
“There should be around 5 to 7% growth in most of those areas, moving into next year. Those suburbs have an underlying popularity to them because of the infrastructure and the prestige element,” he said.
New development The Uptown, located in Roseville, has been popular since its launch. Property Observer <a target="_blank" href="https://www.propertyobserver.com.au/news/sydney-s-leafy-suburb-of-roseville-welcomes-technology-smart-the-uptown-development/2013100365492">reported</a> earlier this year that 80% of stage one apartments were snapped up at launch.
The Uptown’s developer Longton Property’s spokesperson told Property Observer that Roseville is an area that “not a lot of property comes up for sale”. 
“With limited real estate on the market, we’ve received quite a lot of enquiries. We get a good mix of enquiries across all nationalities, from Australian to European to Asian,” Longton’s spokesperson said. 
Andrew Taylor, co-CEO of international property portal Juwai.com, told Property Observer that the Ku-ring-gai area in particular is one of the really popular areas for Chinese buyers. 
“It’s got great schools, transport and services. It is wealthy, with about double Australia's median household income. And it offers a good mix of new construction apartments and existing single-family houses,” Taylor said.
“Ku-ring-gai is popular with both offshore Chinese buyers and Australians of Chinese descent. Already, Ku-ring-gai has a relatively big Chinese population, with 9% of its residents being of Chinese ancestry,” Taylor added.
Taylor also revealed that two Ku-ring-gai suburbs, Turramura and St Ives, are amongst the top ten most popular Sydney suburbs for Chinese buyers, according to activity on Juwai.com. 
“Chinese buyer interest in Ku-ring-gai is growing faster than in Sydney overall. Investor interest in Ku-ring-gai is up 579% so far this year, compared to a 266% increase for Sydney,” Taylor revealed.
Matthew Bourne from McConnell Bourne Lindfield said that while investor enquiries have increased especially from the Singaporean, Hong Kong and Chinese market, he has found only 24% of buyers are of an Asian background. 
"The majority is the market - 61% - is still made up of Australian buyers. The Australian market is upgrading into the local area. While there is an increased enquiry rate from Singapore, Hong Kong and Chinese-based market, when it comes to buying, only 1 in 4 of them do," he said. 
Bourne added that within the Ku-ring-gai area, he has found that 42% of buyers are either upgrading or downsizing their properties, and transaction values are up 30% compared to the previous calendar year, with increased activity in the last four months.
According to the <a href="/news">latest RP Data report</a>, the median house price in Roseville is $1,472,500, down 7.1% on last year. The average discount required to sell a house in Roseville is 5.2%, while private treaty sales average 91 days on market. 
The median asking rent for houses in Roseville is $950 per week, while gross rental yield currently stands at 3.4%. 
According to the <a href="/news">latest RP Data report</a>, the median unit price in Roseville is $692,500, up by 4.3% on last year. The average discount required to sell a house is 4%, while private treaty sales average 66 days on market. 
The median asking rent for units in Roseville is $660 per week, while gross rental yield currently stands at 4.5%. 
According to the <a href="/news">latest RP Data report</a>, the median house price in North Turramurra is $970,000, up 0.4% on last year. The average discount required to sell a house is 5.5%, while private treaty sales average 121 days on market. 
The median asking rent for houses in North Turramurra is $840 per week, while gross rental yield currently stands at 4.5%. 
According to the <a href="/news">latest RP Data report</a>, the median unit price in North Turramurra is $827,500, down 2.1% on last year. 
According to the <a href="/news">latest RP Data report</a>, the median house price in South Turramurra is $865,000, up 2.4% on last year. The average discount required to sell a house is 3.1%, while private treaty sales average 42 days on market. 
The median asking rent for houses in South Turramurra is $780 a week, while gross rental yield currently stands at 4.7%. 
According to the <a href="/news">latest RP Data report</a>, the median house price in St Ives is $1,120,000, up 6.7% on last year. The average discount required to sell a house is 6.1%, while private treaty sales average 85 days on market. 
The median asking rent for a house in St Ives is $1000 a week, while gross rental yield currently stands at 4.6%. 
According to the <a href="/news">latest RP Data report</a>, the median unit price in St Ives is $647,000, up 7.8% on last year. The average discount required to sell a unit is 5.3%, while private treaty sales average 117 days on market.
The median asking rent for a unit in St Ives is $640 a week, while gross rental yield currently stands at 5.1%.  
dleow@propertyobserver.com.au 
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Sydney's North Shore spotlight: Increased Asian interest

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Party politics has trumped what is best for the NSW economy and the need to adequately cater for population growth, according to the Urban Development Institute of Australia (NSW).
This follows a host of amendments to the state’s planning bill which the UDIA says “spell disaster for NSW’’.
“In their pursuit to discredit each other, politicians have lost sight of the big picture,” chief executive Stephen Albin said.
“The NSW population is projected to more than double over the next 50 years, according to figures released on Tuesday by the Australian Bureau of Statistics.
“Instead of catering to this growth, MPs are considering how to stop growth by making unreasonable, uncommercial and uncompetitive amendments to the Bill – it makes no sense.’’
Albin said more people would be needing jobs that come from construction and businesses within new commercial centres, and housing. “We need to deliver more than 40,000 more homes per year to keep up with demand.
“Industry can’t supply these homes under the current Act because outdated and impractical processes make it incredibly challenging.”
Albin said the amendments proposed by other parties would put the state in an even worse position. “The amendments proposed by the Opposition threaten to take NSW even further back to dark ages,” he said.
“To think that someone living 10km away could challenge your home extension in the Land and Environment Court is absurd. And to require a developer to improve - not retain - biodiversity on a site is equally unreasonable.”
Albin said NSW already had “the most uncompetitive approval system in Australia’’ and that much of the recent recovery in the market had been a result of expectations that changes were ‘’going to be made’’.
“Overall, the situation we find ourselves in is bad for industry and first home buyers who are already struggling to get into the market and our economy.”
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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staylor-63KgDrKwoY

Amendments to NSW planning bill "spell disaster" for the state: UDIA

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Located at 100 Mountain Station Road in Merriwa, <a href="https://www.uniqueestates.com.au/Homes/Detail.aspx?id=ue316&amp;wlid=e062a731-9530-456b-9d04-29afb0122324" target="_blank">Brindley Park is up for sale for $15 million</a>, and it comes with not only a helipad, 598 acres of land, a pool, tennis courts, a summer house and fountains, but a rich history as well.
The entire property boasts eight bedrooms and 10 bathrooms, along with a "charming" heritage six-bedroom guest lodge (pictured below).
{yoogallery src=[images/stories/2013/12/02/mer2]}
Originally, the landholding was granted to William Wentworth and John Blaxland in the early 1800s and is said to be one of Australia's oldest farming properties.
Wentworth and Blaxland are most renowned for leading a 1813 expedition, along with fellow explorer William Lawson, to discover a route throught the Blue Mountains. Their successful crossing was a  key moment in early colonial history which openened up large swathes of arable farming land to the west of the Blue Mountains.
References to the land in Trove's digitised newspaper collection, including in <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/19028653?searchTerm=Brindley%20Park&amp;searchLimits=" target="_blank">The Maitland Mercury and Hunter River General Advertiser</a> where it mentions the land as being used for sheep shearing in 1893.
There are three historical images of the property archived, which provide a stark contrast between the modest farming property on fertile land of the past, to the mansion we're seeing currently.
For instance,<a href="https://www.flickr.com/photos/uon/6753091451/" target="_blank"> this image of the dining room</a> at Brindley Park circa 1890, and this one of the <a href="https://www.flickr.com/photos/uon/8111510277/" target="_blank">initial sandstone house circa 1895</a>. There is also an image of the <a href="https://www.flickr.com/photos/uon/6753089221/" target="_blank">woolteams leaving Brindley Park in 1914</a>.
The <a href="https://adb.anu.edu.au/biography/bettington-james-brindley-2989" target="_blank">Australian Dictionary of Biography notes</a> that James Brindley Bettington was of significant importance to the property also.
"The Rooty Hill lease was given up in 1834, the Bathurst grant transferred to Icely, and with his brothers Bettington first leased, then bought Piercefield, Martindale and Brindley Park on the Hunter and Goulburn Rivers. After the dissolution in 1835 of the family partnership, John Henshall retained Martindale, Joseph Horton held Piercefield briefly, while James continued at Brindley Park the sound management which had earlier marked him as 'one of the principal landed Proprietors in the colony', and with his fellow magistrates on the Merton bench earned a well-merited reputation for the kindly treatment of assigned servants," it says.
It further explains that after his father's death he built the homestead, where he continued to product fine quality wool. He was a resident magistrate at Merriwa, active in Hunter Valley agriculutral associations and supported the church and School of Arts.
His eldest son, James Brindley, died at Brindley Park in 1893 aged 28, while the second son William John Henshall established Terragong, part of the Wentworth grant, while another son, Albermarle Brindley, managed the estate until it sold in 1926.
According to RP Data, the property last transacted in 1998 for $510,000. It has been listed by Libby and Greg Moore who set up Pont Securities.
It has many different sections to the property, and has <a href="https://www.brindleypark.com/" target="_blank">its own website to describe them</a>.
The neo-Palladian main residence with sandstone columns and facade, tessellated granite flooring, five-metre ceilings, slate roof, Teak panelled entry and hand-carved marble fireplaces, is an imposing building that speaks of grandeur.
The property also comes with a private library, butlers pantry, a summer house with five metre wide screened verandas and games rooms, a pool, bocci pit, chip-and-putt golf lawn and an English style half acre moated garden.
Truly something outstanding to behold.
If that's not enough, there's then also the working farm with fertile soil, 2,204 megalitres of secure irrigation licenses through four deep bores, 4.8 kilometre double frontage to Merriwa River, 414 hectares of underground mains piped irrigation country and six machinery and hay sheds.
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