Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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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Survey results compiled by Mortgage Choice suggest brokers could lose a chunk of business if they demand a fee for service.
According to the mortgage broking franchise, 61% of the 1,050 respondents said they would not pay a fee for using the services of a mortgage broker.
A quarter of those surveyed said they would not even consider paying a fee that was fully refundable upon the purchase settlement.
As a result of its own survey, Mortgage Choice has delayed introducing a fee until at least the next financial year.
Fee-for-service has become one of the most hotly debated topics in the mortgage broking industry, following the major banks opting to cut commissions in the wake of the GFC.
Brokers have traditionally provided their services for free, in return for being paid by lenders in upfront and trail commissions.
Commenting on the results of the survey, Mortgage Choice CEO Michael Russell said: “With most brokers currently not charging customers a fee for service, the debate is raising a lot of questions around what the industry’s next move could and should be and how lenders will react if fee for service came into play.”
“It is no surprise the survey respondents leaned very heavily towards not paying upfront for assistance that is currently free. Although more were willing to pay a refundable fee, the findings still left almost one in four refusing to even contemplate reaching into their wallet.
“Brokers need to carefully think through whether our individual businesses and the industry as a whole are in a strong enough position to forego at least one quarter of new business.
“Will consumers who are insufficiently educated as to a broker’s value simply divert their enquiry direct to lenders? Can service fees recoup such a significant loss of volume? How will lenders respond?”
Russell says the survey validated that the industry is not yet mature enough to introduce fees without penalising itself considerably.
“Based on this, other consumer research, conversations with our brokers and the condition of today’s housing finance market, Mortgage Choice is postponing any action on the fee for service front until at least the next financial year,” Russell says.
 
“We are taking into serious consideration our findings and will not move towards charging any fee if it puts at risk the business of 24% of potential customers.
Other key survey findings:
<ul>
<li>Of the 39% of respondents who said they would pay a fee for service, 50% would pay between $1 and $250, 32% would pay between $251 and $500, 8% would pay between $501 and $750 and the remaining 10% would pay more than $750.</li>
<li>Of the 76% who would contemplate paying a fee that was fully refundable upon the property purchase settlement, 35% would pay between $1 and $250, 36% would pay between $251 and $500, 11% would pay between $501 and $750 and 18% would pay more than $750. </li>
</ul>
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lschlesinger-FZcF9M3vE6

Consumers reluctant to pay for mortgage broking services

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Billionaire UK property developer Nick Candy is seeking an Australian partner for a super-luxury apartment development, with Melbourne looking the most likely location.
Candy has already looked at a development site in Sydney and met with developer Lend Lease six months ago, but no deal eventuated.
However, recent comments from Candy suggest he could now be eyeing Melbourne as a favoured location, telling the AFR he was “very impressed” when he visited the city two years ago.
“I was very impressed by the quality of the restaurants, the quality of the hotels. In some respects, I would say that Melbourne is even more international than Sydney,” Candy said.
Any development would most likely eclipse Melbourne’s most expensive apartment complexes, the Melburnian in St Kilda, where a 465-square metre-penthouse changed hands for $15 million (or $32,000 per square metre) in 2009 and the Salta Properties development at 150 Clarendon Street, in East Melbourne.
"[The Salta Properties development] is the most expensive apartment in recent memory," says Andrew Leoncelli CBRE’s director of residential Projects Victoria. "The Salta development comprised of 86 apartments which had an average sale price of $5 million an apartment with five apartments sold for well over $10 million," he tells Property Observer. 
Commenting on a possible Candy-led development, Leoncelli says "sophistication and luxury are part of everyday Melbourne life and a quality development that embodied this lifestyle would be well received".
Nick Candy is the chief executive of interior designer Candy &amp; Candy while his brother, Christian is CEO of private developer CPC Group.
One Hyde Park in Knightsbridge, Central London, which has been labelled the world’s most expensive apartment complex has been developed by Project Grande (Guernsey) Limited  - a joint venture partnership between CPC Group and the Prime Minister of Qatar.
Floor space at One Hyde Park is selling for $96,000 per square metre.
Apartment sales to date total £1.1 billion ($1.64 billion) with buyers hailing from Russia, Asia, Europe and the Middle East.
One Hyde Park took four years to build at a cost of £1.1 billion. Glazing and cladding alone cost £100 million. At the peak of its development, 2,500 worked on site.
It is located on one hectare of land at 100 Knightsbridge Road, with Hyde Park directly behind it, and just a short walk from Harrods and Harvey Nichols.
It consists of 86 apartments within four diamond-shaped pavilions, including four penthouses.
The apartments vary in size from 9,500 square feet over a single floor, with penthouses up to 30,000 square feet.
It houses the Mandarin Oriental hotel – the first of the chain to be opened in Europe – and retail tenants include Rolex, McLaren Automotive and Abu Dhabi Islamic Bank.
Following the apartment sales, loans from three banks to finance the development have been paid off.
The Candy brothers used a £6,000 loan from their grandmother to start renovating flats in London 15 years ago.
They sold their first £1 million apartment in Knightsbridge in the late 1990s.
Not all developments have yielded success. Last year financing for a $933 million project in Beverly Hills fell through, with CPC Group forced to sell the site at a loss of $300 million.
Candy is currently in Sydney for the movie debut of girlfriend and former Neighbours star Holly Valance.
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UK developer eyes off Australia for super-luxury apartments site

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<img src="/images/stories/branson3-cropped.png">
Makepeace Island, Virgin tycoon Richard Branson's getaway off the Sunshine Coast, has now been opened to the luxury resort hire market.
It costs $7,900 a night for a party of eight guests and up to $16,890 a night in peak season for up to 22 guests. It’s a bit cheaper than Branson’s Necker Island in the British Virgin Islands, which costs $US53,000 ($A49,380) per night to hire.
Once a muddy patch of land floating on the Noosa River, the 9.2-hectare heart-shaped island has been transformed into an ultra-luxurious Balinese-style retreat with 11 bedrooms.
Sir Richard, along with Virgin Blue executives Brett Godfrey and former colleague Rob Sherrard, bought it for $2.86 million in 2007.
On its purchase Sir Richard said he had purchased it as a present to his employees.
"It's incredible when you think of the achievement that all of the staff have done down here. Airfares have halved and hundreds and thousands of more people are travelling," he said.
"None of that could have been possible had it not been for our magnificent staff.
"As a thank you, we have bought a beautiful island off Noosa for the staff to use with their friends to come and party," Sir Richard said. 
But the initial plans to develop it as a luxury staff resort failed to gain Noosa Council approval. In 2008 work finally began to renovate the old timber cottage on Noosa's only privately owned island.
The subtropical island, six kilometres upstream from the coast, originally featured a classic 1911 Queenslander residence with corrugated iron roof dating back to the days when the island was known as Pig Island.
The property now comes with a main long house with a giant bar, a four-bedroom guesthouse, several two-bedroom villas, a boathouse and a lagoon pool with a lap lane, dive spots and a 15-person spa.
The island has its own riverboat to transfer guests, a full-sized tennis court, outdoor cinema, two-storey open-air Balinese wantilan, a games room and office facilities.
Sir Richard, who says Noosa is his "favourite place in Australia", says Makepeace is available for whole-of-island rental only. It comes with staff, who prepare all meals. 
"When neither Brett nor myself are visiting Makepeace, we will make the island and its facilities available for others to enjoy the tranquility of what is a very special place," Branson said.
The house had been the home of artist Brian Spencer and his wife, Beverley, between 1980 and 1997.
Makepeace Island was first owned by Charles Nicholas, who built the Queenslander in 1924. The island, alongside the Sheep and Goat islands, was renamed after a spinster housekeeper named Hanna Makepeace who inherited the house after starting work there in 1924. 
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jchancellor-FAypfDUnLy

Sir Richard Branson’s Noosa getaway for hire – for $17,000 a night

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Brisbane’s serviced apartment market is mounting an exceptionally strong recovery, in direct contrast to dwindling numbers on the Gold Coast and Sunshine Coast.
Serviced apartment occupancy ratios in Brisbane soared during the March quarter of 2011, rising 65% in January 2011 to 83%, according to ABS data.
Guests spent just over 123,000 nights staying in the city’s 4,800 rooms in March 2011, compared with about 93,000 in January.
While guests are staying for slightly shorter periods (three days in March, down from 3.5 days in January), average takings per room have increased from $147 a night to $172.
The figures suggest the Brisbane market may present opportunities for investors.
Earlier this year, property analyst Michael Matusik suggested investors look at the serviced apartments sector ahead of the lacklustre residential sector.
Matusik calls serviced apartments “residential assets wrapped up in a commercial lease” and says most of the 900-plus serviced apartment projects are taking place in Queensland.
According to the CBRE Hotels Traveller Accommodation Property Database, Queensland makes up nearly half (47.6%) of Australia’s serviced apartment market.
Brisbane is one of the epicentres of growth, with the city accounting for nearly a quarter of all serviced apartment accommodation in the state.
“Serviced apartment products have several advantages over traditional residential investments,” Matusik says.
“Apart from offering pre-tax returns between 1% and 2% higher than standard residential properties, serviced apartments also offer a commercial lease arrangement.”
Furthermore, Matusik says the number of people who stayed in an Australian serviced apartment last year increased to 2.3 million, from just one million a decade ago.
The recovery in Brisbane serviced apartments’ mirrors a strong comeback in the corresponding hotel sector on the back of strong corporate demand.
According to CBRE research, serviced apartments in CBD locations are favoured by corporate travellers while those in regional centres are used predominantly by leisure travellers.
CBRE Hotels senior director for Queensland, Wayne Bunz, said in June the strength of the Brisbane market was spurring strong demand from hotel investors and could push forward a number of major development projects.
Gold Coast languishes
In contrast, the Gold Coast apartment market is starting to wear the basket-case label analysts have placed around its neck.
In the space of three months, occupancy rates have plummeted by 20%, falling from 78% in January to 58% in March, while the revenue generated per night’s accommodation fell equally dramatically – down from $165 to $129.
It’s a similar story on the Sunshine Coast, where serviced apartment blocks are less than half full (48%) compared with 61% in January 2011 and 70% in January 2010.
Serviced apartments currently up for sale on the Sunshine Coast include the 37-apartment Mirage Alexandra Headland at 6 Mari Street, up for sale for $2.9 million by Glenn Millar from Resort Brokers.
Millar is also selling a 49-apartment complex at Coolum Beach on the Sunshine Coast for $2.85 million. Further up the coast, the North Queensland market is faring better, with occupancy ratios holding steady at 65% in March compared to 66% in January.
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Brisbane serviced apartments fill up, while coast empties out

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The country’s peak insurance and actuarial bodies have called for better mapping of flood-prone areas and a focus on ways to mitigate flood risk as better ways to price residential flood insurance policies.
The calls come just days before the July 14 deadline for submissions to the government’s National Disaster Insurance Review (NDIR).
In its submission, the Insurance Council of Australia (ICA) will push for more government and local council funding to implement risk-mitigation strategies.
As an example of a successful strategy, the ICA points to a three-kilometre long, 11-metre high levy wall built by the Lismore City Council along the banks of Wilsons River in 2005. Costing $19 million, it was jointly funded by federal, state and local governments.
According to ICA chief executive Robert Whelan, the wall saved Lismore an estimated $15 million in damages from floods in January this year.
“Mitigation has taken a back seat because it's the hardest and most difficult thing to implement and it will ultimately be expensive. But it's also the most important,” Whelan said at a July 6 seminar in response to NDIR proposals.
In June, Brisbane architect Dion Seminara designed the <a href="https://www.propertyobserver.com.au/residential/flood-resistant-house-can-keep-high-and-dry/2011062750625">winning entry</a> for the LJ Hooker Flood Home Design Competition – a house built for less than $200,000 and raised above the ground to allow the water to flow through.
The Institute of Actuaries of Australia (IAA) has called for better flood mapping data for flood-prone areas in addition to state-funded mitigation programs.
“Insurance is not the answer to this – it doesn’t provide a long-term solution to the problems created by natural disasters,” said Daniel Smith, convener of the IAA’s National Disaster Committee at the same seminar.
Risk mitigation is a key tenant of the National Disaster Insurance Review’s guiding principles, announced by assistant treasurer Bill Shorten on March 4, 2011. The review is headed by former APRA board member John Townbridge.
“Risk mitigation by individuals and governments is a key objective. The context is clear: there need to be incentives on all parties to manage, limit or mitigate their risks. “Also it is evident that affordability of insurance is a function of the quality and effectiveness of risk mitigation,” Townbridge said in a speech to the IAA Biennial Convention in April.
The other guiding principles of the review are that government intervention in insurance markets is justifiable only where affordable insurance is not available and that individuals and businesses should be encouraged to insure themselves.
The review will also examine whether a relationship exists between disaster mitigation measures and the availability and affordability of insurance and consider whether it would be worthwhile to establish a natural disaster fund specifically to support the rebuilding of public infrastructure following a disaster.
The review was instigated in the wake of the Queensland and Victoria floods, when numerous flood victims did not have enough cover, or had no cover at all.
The floods also resulted in a far higher proportion of insurance disputes than any other natural disaster being referred to the Financial Ombudsman Service.
The review panel will provide a final report setting out its recommendations to the Assistant Treasurer by the end of September.
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Insurers urge government to invest in flood risk mitigation

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Demand for housing finance from owner-occupiers in Queensland increased by 1.6% to 8,607 commitments in May, according to latest ABS figures.
The increase is below the national average of 4.4% and well below the increase of 7% (revised up from 6.2%) recorded in April.
After underperforming for much of the past year, SA housing finance bounced back in May, rising 8.2% in May.
Owner-occupier mortgage commitment gains were recorded in WA (3.6%), Victoria (2.6%) and NSW (2.2%).
The modest increase for the Sunshine State leaves it 12% below its end 2010 level.
According to Westpac economist Julie Doel, the May outcome for Queensland suggests the post-flood recovery will be protracted.
Across Australia, mortgage finance was arranged for 49,437 owner-occupier dwellings in May 2011 with a combined value, excluding alterations and additions of just under $20.5 billion – an increase of 2.9%.
Doel says the May outcome is in line with expectations. Westpac had forecast 5% growth in owner-occupier mortgages compared with market estimates of 4.5%. It follows a gain of 4.6% in April.
However, Doel says excluding refinancing activity, housing finance to owner-occupiers rose by just 1.1% in May, down from April's 3.0% gain.
“Despite the April/May gains, the level of housing finance remains relatively low, circa that seen in the second half of the 1990s,” she says.
The value of fixed investment loans increased by 4.4% to $6.3 billion.
The number of loans for the construction or purchase of a new dwelling rose by 5.7% in May on top of the 3.3% rise experienced in April.
“Hopefully new home lending is finally dragging itself off the canvas, although we need much more than May’s improvement to lift us from what is a chronically low level of new home lending,” says HIA senior economist, Andrew Harvey.
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Queensland demand for mortgages slows

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Faced with the prospect that imports could cost growers a third of their income, Apple and Pear Australia has unveiled its strategy, the Aussie Apple Accord, to help the industry survive apple imports.
It envisages domestic production will be about 11% lower and farm income will be about 32% lower by 2014.
The average Australian orchard is 9.4 hectares and produces about 31 tonnes per hectare annually from about 1200 trees per hectare. The strategy, written by the Centre for International Economics, suggests apple consumption in Australia could be 17% higher, but adds there is a likelihood of imports achieving a 22% market share by about 2014.
The price of domestic apples is estimated to be 35% higher than the potential landed price of imported apples, although domestic wholesale prices are unlikely to fall by the full extent of the differential.
The accord, presented to Federal Agriculture Minister Joe Ludwig last week, outlines a $124 million plan, with funds from government and industry to help make the industry more competitive through investment in computerised irrigation, environmental covers, accelerated depreciation and packing house consolidation.
"It's going to be a tough time. We're not saying bail us out with a hand out," says general manager of Apple and Pear Australia, Jon Durham.
The Centre for International Economics report notes the relaxation of quarantine restrictions was expected to see the introduction of imported apples from China, New Zealand and the United States within the next few years.
“This represents a significant challenge for the Australian apple industry as the industry is uncompetitive by international standards,” it says.
The report estimates farm gate prices will be about 21% lower and wholesale prices will be about 13-14% lower after the relaxing of quarantine restrictions by 2014.
It noted Australian growers lag behind international competitors on productivity, its product quality is inconsistent, and the supply chain is highly fragmented, preventing Australian producers from taking advantage of economies of scale in packing and marketing.
Based on ABS data and industry consultation, the CIE identified the need within industry of a gradual transition towards more commercially favoured varieties, such as Pink Lady, Gala, Granny Smith, Jazz and Fuji. High density planting would lead to productivity improvements when combined with more intensive or more effective orchard management.
The report said Australian producers had been slower than international competitors, particularly some European countries and New Zealand, in transitioning to higher-density production.
It suggested the trend over the past eight years was for the number of orchards to decrease at a rate of 3% each year.
The report noted yield per hectare was one of the leading indicators of the current competitiveness of the Australian industry.
Many costs on a per-kilogram basis fall as yield improves.
“Yield has a strong link to profitability because as the tonnage per hectare rises so too does the first quality yield for which producers receive a higher return.
“Strong performing enterprises have pack out rates around 85% with approximately 75% of product recovered in class one markets.
“In Australia, second quality product receives between 35 and 75% less than first quality product depending on the variety.”
The percentage product graded first quality has been relatively high in Australia compared with competing nations, however, this may be because of less stringent specifications on a range of indicators of eating quality.
Australian producers tend to have higher production costs than competitors, due largely to the cost of labour. Labour comprises two thirds of total costs, with the on-farm labour equating to one third of total variable costs.
“Because quarantine restrictions limit imports, they allow domestic producers to charge higher prices than they could if the restrictions were not in place,” it noted.
“Domestic apple prices will continue, to an extent, to be supported through quarantine requirements that add to the cost of exporting to Australia.
“The relative isolation of Australian markets to international producers, particularly the United States, will also offer some support.
“The bottom line is that imported apples are likely to be more competitive in Australian markets after quarantine restrictions are relaxed to an extent which permits trade,” it says.
The ABS estimates total tree numbers in Australia in 2008–09 was approximately 10.45 million.
In 2009, Australia exported just 1.5% of its total apple production to overseas market.
Prior to 2004, exports were significantly higher, averaging between 8% and 13% of total production. Analysing the average volume and prices of Australian apples sent to overseas
markets, the report notes the United Kingdom accounted for an average of 13% of apples. The average price received over this period was A$3.27 per kilogram. Indonesia, which received 13% of total export volumes, had export prices averaging A$2.57 per kilogram over the period.
About 68% of apples exported over the past three years were valued at less than A$1.80 per kilogram and about 39% were valued at less than A$1.20 per kilogram. Almost half of apples exported in the past three years were Red Delicious from Tasmania.
Under current plant protection regulations, exporters in foreign countries wishing to send fresh fruit or vegetables to Australia must first lodge an application with the Australian government.
Decisions to permit or reject an import application can be made only on sound scientific grounds.
These arrangements mean Australia’s domestic industries are insulated from import competition until appropriate quarantine arrangements have been put in place.
In August 2010, the WTO ruled that Australia’s phytosanitary measures for New Zealand apples were not justified.
The Australian government appealed, however, the appeal was lost in November 2010.
In December the Australian and New Zealand governments agreed that a review by the Director of Quarantine would be completed on August 17 this year.
Although some quarantine restrictions on apple imports have already been relaxed, Chinese apple imports have not yet hit the Australian market, with November tipped as the likely month for imports to begin.
Apples from the United States could arrive in the Australian market as early as 2012, most likely in late September or early October.
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Apple imports could slash grower incomes by one third: peak body

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Melbourne house prices will not recover in 2011 despite a recent improvement in buyer confidence, according to WBP Property Group.
According to the company’s CEO Greville Pabst, an increasing number of passed-in properties have sold in recent weeks after “tough post-auction negotiations”.
Statistics compiled by RP Data reveal that auction clearance rates in Melbourne improved to 55.1% for the week ending July 3, compared with 52.6% for the previous week.
RP Data recorded Melbourne auction clearance rates at 51.3% in mid-July.
Clearance rates are still well down on the year to date, which according the Real Estate Institute of Victoria, stands at 60%.
While taking note of the recent improved conditions, Pabst remains bearish on Melbourne house prices for the remainder of the year.
“There appears to be some early evidence that property values are currently in the lower trough. “However, while I don’t expect values to fall considerably further, it is unlikely that Melbourne will see any significant positive change in values in 2011,” Pabst says.
According to Property Observer’s Property Clock https://www.propertyobserver.com.au/ebook-where-is-your-market-on-the-property-clock the Melbourne market has some way to go before bottoming out.
Melbourne houses currently sit at 2.25 on the clock and units at 1.50, with 6 o’clock indicating the bottom of the market.
SQM Research managing director Louis Christopher is forecasting a 5% decline in Melbourne house and unit prices this year.
Hotspotting.com.au director Terry Ryder forecasts a minor decline due to a strong economy and continued population growth but has particular concerns for Melbourne inner-city apartments due to a large number of construction projects in the CBD, Docklands and Southbank markets.
For the year to May 2011, Melbourne house and unit median prices have fallen 3.6%, according to RP Data, compared with a national capital city decline of 2.7%.
Melbourne rental yields currently sit at 3.6% for houses and 4.2% for units. The national median yield for capital cities is 4.2% for houses and 5% for units.
Areas which have benefited from a spike in buyer demand include Melbourne’s inner-east, where a week ago clearance rates for units reached 90%.
However, Pabst says buyers in the east remain selective about which suburbs they favour as well as streets and property types.
“Buyers looking in the inner suburbs are in pursuit of lifestyle. They want to be close to the CBD and employment with good access to cafes, restaurants, shopping and recreational facilities; and they’re willing to pay for it,” he says
In recent weeks, the bayside suburb of St Kilda has seen mixed results as buyers vie for only a select few of the many properties on offer in the area.
Despite the overall outlook showing limited potential, Pabst says there are good opportunities for shrewd buyers to secure quality assets at good value.
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Melbourne prices to remain in the red in 2011: WBP

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The next series of Channel Nine's hit renovation show, The Block, seems set for South Melbourne, with the television show production company spending some $3.8 million on four unrenovated terraces.
<img src="/images/stories/blocksouthmelb2.jpg">
The Dorcas Street terraces have potential for a third-storey addition which will have city views, and the installation of front balconies.
The current series of The Block, in Richmond, Melbourne, has been a ratings winner for Channel 9, although the renovators will face a testing auction market.
Historically known as Emerald Hill, the South Melbourne area was first settled by Europeans in the 1840s. During the Victorian gold rush of 1851 a tent city known as Canvas Town was established.
The district remains notable for its well-preserved Victorian-era streetscapes.
The four terraces, which are diagonally opposite former 1877 hotel The Star and Garter, have been tightly held, with the last-known recorded sale being at about $360,000 in 1999.
The Catholic church of Father Bob Maguire, St Peter and St Paul, overlooks the acquisition, which sold through Buxton Albert Park agent Karl Gillon pre-auction.
The terraces have three bedrooms and one bathroom each, with just the one terrace on the Montague Street corner coming with off-street car parking.
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The Block sticks with made-in-Melbourne formula 

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Westpac is forecasting November 1 as the likely date for the RBA to next push up the cash rate.
According to the bank’s senior economist, Andrew Hanlan, a November rate rise is dependent on “an improvement in consumer spending and more clarity on the situation in Europe”.
“We anticipate greater momentum in the domestic economy as we head into 2012,” Hanlan says in Westpac’s July Market Insights report.
“By then, the disruptions from the floods and cyclones of early this year will have faded and the mining investment upswing will be gaining momentum and greater breadth, as construction on a number of new projects commences.”
Westpac firming up on November as the most likely date for a rate rise follows the ANZ forecasting no rate rise at all until February 2012.
In its July quarterly outlook, released last week, St George says “there is now a growing risk that no tightening will be needed this year”.
In its June 2011 report, Westpac chief economist Bill Evans said the bank still favoured a hike in the second half of 2011, with November more likely than August. In May 2011, Westpac had forecast a rate rise in September.
But following the July decision and accompanying RBA statement, Hanlan says the bank’s previous hawkish sentiment on rates has now moderated and suggests that, based on current information, there is no urgency to move rates.
“The strange thing is that we were very surprised when the bank suddenly adopted their hawkish tone during May as we judged that the case for a rate hike had not been made,” he says.
The 2011 second quarter inflation update, due to be released on July 27, is expected to be the next trigger as to whether the RBA adjusts rates upwards in August.
“We’re forecasting quarterly core CPI to moderate from 0.9% to 0.7%, an outcome that should extend the rate pause. “Given current domestic and global developments, the board is likely to need to see another 0.9% rise for it consider an immediate move on rates at the August meeting,” Hanlan says.
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