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?

<html><body>
A portfolio of industrial properties held by BRW rich-lister Peter Gunn will be marketed at international investors with a particular focus on the Asian investment market.
The portfolio is being marketed exclusively by CBRE.
Gunn, Australia’s 50th richest man with a fortune estimated at $800 million, wants to reweight his property portfolio and put some capital in CBD commercial assets.
CBRE will look to take advantage of better market conditions when marketing the portfolio.
Commercial property sector sales surge by 432% in the second quarter of the year to $2.7 billion with the industrial sector accounted for 8% of all transactions.
The portfolio, held by Gunn’s PGA Group, is made up of five warehouse/distribution centres and two approved development sites.
It includes properties PGA has been trying to offload for a number of years.
Up for sale is the 5.65=hectare industrial property at 34 Airds Road, Minto in NSW, purchased in September 1997 for $7.25 million, which has been for sale since 30 October 2008.
The 6.65-hectare development site at 295 Archerfield Road in Richlands, Queensland was purchased for $4.3 million in 2000 and has been listed for sale since April 2009.
Another long-held property up for sale is a 2.54-hectare industrial property at 39 Britton Street in Smithfield in NSW, tenanted by Snack Brands Australia, which was purchased by the PGA Group in April 1993 for $900,000.
The other properties listed for sale are at 39 Britton Street, Smithfield (NSW), 34 Jonal Drive, Cavan (SA), 42-44 Jonal Drive, Cavan (SA), 96-108 Greens Road, Dandenong South (VIC) and 110-116 Greens Road, Dandenong South (VIC).
The assets make up a total building area of close to 65,000 square metres and a combined land area of 235,000 square metres with a weighted average lease expiry of 5.97 years.
The campaign will look to take advantage of a turnaround in investor sentiment towards commercial property, which saw commercial property transactions surge by 432% in the second quarter of 2011 to $2.7 billion, 14% above the long-term quarterly average turnover.
Notable recent transactions include the $65 million sale of a Coles distribution centre in Victoria to the Roberts family.
CBRE regional director for industrial, logistics and investments, Joshua Charles expects interest from both local and international investors.
“These assets are of excellent quality and several of the properties offer significant upside,” Charles says.
“Given the geographical spread and the potential price range we expect the sale to attract broad ranging buyer demand.”
According to CBRE, the PGA Group is “keen to fully exploit the strong international interest in Australian industrial assets”.
Expressions of interest close August 18, 2011.</body></html>

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CBRE hoping to offload Gunn industrial portfolio to Asian investors

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Australia’s largest cattle exporter to Indonesia, Consolidated Pastoral – which made a $19 million annual loss in 2010 – has indicated the live cattle export ban is likely to encourage its possible expansion into sheep grazing and grain growing.
Its chairman Ken Warriner noted the key reasons for the losses – which were incurred prior to the recent live cattle ban – resulted from Indonesian decisions regarding cattle weight restrictions and the limiting of import permits.
As a result of the more recent ban of live cattle exports to Indonesia, Consolidated Pastoral Company says it will be investigate wool and sheep meat markets.
“These markets have improved considerably recently as a result of the sheep herd in Australia dropping from 170 million in 1990 to less than 70 million today,” Mr Warriner said.
“All markets and opportunities are being monitored closely; however the appropriate opportunities are quite rare at this time due to the lack of suitable sizeable properties coming on to the market,” he said.
The loss announcement coincides with cattle prices beginning to fall across eastern Australia as export-destined stock is redirected towards the crowded domestic market.
Consolidated Pastoral, which is the second largest beef producer in Australia, is majority owned by British private equity firm Terra Firma.
Consolidated Pastoral, whose livestock assets are worth more than $233 million, runs 357,000 cattle over 18 properties, covering more than 5.8 million hectares – representing about 0.75% of Australia’s land mass. The cattle numbers were up 3%. But its cattle sales were down by 9% to 53,000 sales.
It was 2008 when Terra Firma bought the company, which had been part of Kerry Packer’s family company. At the time of its reputed $425 million purchase it had 16 beef-producing properties – mostly in the Northern Territory and Queensland. Its 300,000 head of cattle were valued at $145 million in 2008 when the company had leasehold land valued at $162 million and $27 million worth of freehold land.
The late Kerry Packer had begun putting the parcels of properties together after his purchase of the 1 million-hectare Newcastle Waters station in the Northern Territory in the early 1980s.
Mr Warriner, a long-time Packer family friend and who has been chief executive and chairman of Consolidated Pastoral, maintained his 10% stake in the business alongside Terra Firma. Mr Warriner says after running the company since 1983 he will step down from his role as soon as a replacement CEO is found, but he intends continuing as its chairman.
"The challenges relating to the Indonesian market have curtailed our desire to acquire land in areas overly dependent on that trade," Mr Warriner says.
"All markets and opportunities are being monitored closely. However, the appropriate opportunities are quite rare at this time due to the lack of suitable sizeable properties coming onto the market that meet Terra Firma purchasing guidelines."
Consolidated Pastoral's total asset value slipped to $696.1 million in the full year compared with $703 million in the previous corresponding period. As at December 31, 2010, property, plant and equipment was valued at $417 million.
It also supplies grass-fed Japanese ox and cattle for the local domestic market. The annual report of the company noted 2010 had been a year of challenges, particularly the unexpected restrictions by the Indonesian government limiting import weights and restricting the issue of import permits.
“This resulted in the redirection of cattle which otherwise would have been exported to Indonesia to eastern and southern Australian meat processors,” it said.
“CPC and others have done a considerable amount to address the welfare of cattle in both Australia and Indonesia, and the enforcement of recognisably acceptable standards of welfare will continue to be our priority,” Mr Warriner said.
“CPC and our business partners AGP have led the development of a humane and halal compliant killing process in Indonesia, with the introduction of stunning guns to be used in conjunction with restraining boxes.
“Stunning guns operated with compressed air are currently being installed in all abattoirs where CPC cattle and other cattle from our Indonesian joint venture feedlot will be slaughtered,” he said.
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jchancellor-FAypfDUnLy

Beef producer moots shift to lamb and grain

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ANZ has shifted its view on interest rates and now expects no increase until as late as February 2012.
Furthermore, any serious global fallout from Greek sovereign debt issues could see a rate cut for Australians.
In a research note addressing its change of view on monetary policy, the bank forecasts a second interest rate increase (from 5% to 5.25%) by August 2012.
Prior to this change of position, ANZ had, as part of a Reuters’ poll of 22 economists carried out on July 1, forecast a 50-basis-point increase (or two quarter-percentage point increases) by the first quarter of 2012.
The bank says its changed view is “primarily based on a downgrade to our employment outlook due to more mixed conditions in the non-mining economy”.
According to ANZ, an increase in the cash rate in the short term will require second-quarter inflation figures (released in late July) to be 0.8% or greater – an increase it is not anticipating.
In the medium term, the bank expects inflation to trend higher, but says the recent fall in oil prices has taken some pressure off inflation forecasts in the near term.
Any financial market dislocation could see interest rates go down, not up, according to Westpac senior economist Justin Smirk.
“This risk scenario must now also be considered. In the short term this would seem to require a GFC II-type shock, likely emanating from sovereign debt concerns.
“In the medium term, an extended period of soft or softening global growth and lower commodity prices that sees core inflation remain moderate in the lower half of the band (0.5% per quarter or below), employment growth remain sub-par and the unemployment rate begin to drift up could also see the bank change its view about the current setting of monetary policy.”
In the Reuters poll, the bank had forecast the unemployment rate to remain at 4.9% in July.
Westpac, which forecasts a rate rise before the end of 2011, expects the unemployment rate to remain at 4.9%.
It says jobs growth of 15,000 in the June labour force release should be enough to hold the unemployment rate flat.
Total job advertising recovered just over half of the 6.5% decline in May, with a rise of 3.7% in June, Westpac noted.
“To some extent this was a disappointing result suggesting the drop in job advertising in May could be indicative of weaker economic conditions overall rather than just the effects of the Easter/ANZAC Day extended long weekend, which was combined with school holidays,” says Westpac senior economist Justin Smirk. Aussie Home loans founder John Symond has also weighed into the interest rate debate, warning a further rate rise could trigger a recession.
“There are many reasons why the Reserve Bank should not lift rates, perhaps the most important being the fact that the non-mining economy is slowing, with retail sales and consumer confidence down,” Symond says.
“We are currently seeing a two-speed economy and many non-mining industry sectors are suffering.
“As a result, one or two more rate rises could well tip Australia into recession,” he says.
Out of 22 economists surveyed by Reuters, only one from Goldman Sachs expected interest rates to remain unchanged by the end of 2011.
Of the remaining 2o economists (excluding ANZ, given its new forecast), nine expect rates to be at 5% by year-end while 11 anticipate two rate rises to 5.25% this year.
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ANZ predicts no rate rise until February 2012

<html><body>
Highlighting the trend of wealthy private schools buying up their neighbours, the 1911 Darling Point mansion Duntrim, which was expected to fetch more than $15 million, has been sold to neighbour Ascham School for $12.25 million.
The 4500-square-metre Darling Point Road property in Sydney’s inner eastern suburbs was listed under instructions from the former NSW Labor state government through Colliers agents Guillaume Volz and Robert McCuaig.
“We believe this site will be the key that unlocks the school so we continue to offer our students the best possible education and school experience,” Diane Grady, chairwoman of the Ascham council of governors says.
“This is an important step in our long-term strategic planning.”
After necessary renovations the school plans to use the existing three buildings to expand its residential boarding facilities.
The school also plans to build classrooms on the site to enhance its science facilities.
Website schoolschoice.com.au suggests Ascham has 1000 students with 100 boarding places.
Now occupying about 3.7 hectares, Ascham, one of the oldest girls’ schools in Australia, was founded by Miss Marie Wallis in 1886 with nine pupils in a Marathon Avenue, Darling Point terrace.
Miss Wallis named the school after Roger Ascham, tutor to Queen Elizabeth I.
The school moved to its current location in 1909 with the purchase of the two-storey Victorian Italianate 1870s house Glenrock, which came with a Moreton Bay fig tree, now thought to be more than 150 years old.
The school’s website suggests the tree embodies the school’s continuity and growth, with Ascham appreciative of the contributions of all who worked toward the school’s development during the past 125 years.
“Such a unique and large parcel of land in a prestigious eastern suburbs location provided a once-in-a-generation opportunity,” McCuaig said on the Duntrims listing.
“The proposed heritage listing would make it a significant challenge to secure buyer interest.”
The NSW Department of Health, which housed a renal dialysis unit at the arts and crafts-style mansion, bowed to public pressure in November 2010, withdrawing demolition plans that would have maximised its value.
Engaging Urbis heritage consultant Stephen Davies, Ascham School was the major opponent to the demolition of Duntrim when it came before Woollahra Council’s consideration.
The house, built for hardware merchant William Macpherson, was a private home until Sydney Hospital began using it as a nurses home in 1954.
In 1989 then Liberal Government Minister for Health Peter Collins included Duntrim in a long list of departmental property that he was seeking to sell, with funds invested in building new hospitals and health facilities.
Ascham has previously conserved and adapted for school residential use the Yeomerry residence in nearby St Marks Road and Duntrims architect Maurice Halligan designed another house within the school grounds, Raine, now the junior boarding facility.
Sydney Church of England Grammar School (Shore), heads the list of schools on the recent acquisition trail. 
 It offered the $35.2 million winning bid for the 2.65-hectare Graythwaite site in North Sydney in 2009, which took the portfolio of the wealthy private school to around 86 different titles.
 Shore had bought 12 properties in the prior decade around its 5.65-hectare campus near North Sydney's business district and nine hectares of playing fields in Northbridge. 
 Other well-heeled private schools that have spent up on property include The Scots College, which bought a house in Bellevue Hill for $4.1 million in 2008.
 Newington College spent $5.2 million on the Braeside Anglican Hospital site after the $3.51 million purchase in 2007 of the Concordia Club site on Stanmore Road. 
 Ascham’s purchase was overseen by the school board’s treasurer Steve Harker, the chief executive officer of Morgan Stanley Australia.
 After graduating from the University of Sydney with a Bachelor of Economics and a Bachelor of Law, Mr Harker was a research officer for the Federated Ironworkers Association of Australia from 1979-1983 and was then a research officer with the Reserve Bank of Australia.
</body></html>

Ascham School snaps up Darling Point neighbour

<html><body>The number of mortgage broking firms operating in Australia has contracted by 26% in the year to March 2011 but lending activity has increased by 18%, according to new figures from Market Intelligence Strategy Centre. 
</body></html>

Brokers drop 26% as value of loans written drops $2.7 billion

<html><body>The reform process to achieve a greater supply of housing needs a rocket under it, and a solution to getting stamp duties slashed, according to the Housing Industry Association (HIA).
</body></html>

Stamp duty must go to boost housing supply: HIA

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The unprecedented supply pipeline of inner-Melbourne residential apartments is potentially destabilising but the market will correct its own excesses, according to an ANZ report.
The ANZ’s senior economist for property research, Ange Montalti, envisages reassessment of project viability by developers, with their bankers to act as a key lever, to minimise market oversupply.
But Mr Montalti predicted inner-Melbourne apartment prices would continue to be volatile given the emerging residential precinct was not yet mature.
The report, Growing Pains for Inner-Melbourne Apartment Market, noted prices fell by 14% during 2003-04, and by about 7% after the global financial crisis, but then recovered to new highs.
Inner-Melbourne prices collapsed 9% in late 2010, but regained some of this lost ground in early 2011, lifting 5% since January, it said.
''Such volatility is par for the course in this market,'' Mr Montalti said.
The report notes Melbourne building approvals have breached historical peaks, in stark contrast to other capital cities which have generally held within their ‘two-decade’ range.
Victorian dwelling completions are set to run higher than underlying requirements in 2011 and 2012 for the first time in several years.
At face value, such strength suggests a degree of overshoot and unsustainability, it noted.
Vacancies were likely to be volatile as more stock was built, but this would be shorter- rather than longer-term.
Mr Montalti said higher interest rates and a more subdued housing sentiment would create headwinds for the inner-city apartment market.
He said a sentiment-driven 'correction’ currently under way was critical to minimising the potential oversupply.
The most vulnerable period will be 2013, with peak volumes of about 5000-7000 apartments and the product mix shifting mainly to high-rise complexes of 25 storeys or more.
The report noted Melbourne building approvals had surpassed historic peaks, supported by strong jobs growth and a period of under-building (2007-09) that suggested pent-up demand existed.
''The current boom therefore reflects elements of catch-up and should not alone raise undue concern about potential market fallout,'' he said.
Inner-Melbourne was at the centre of the building boom, with approvals running four times higher in the nine months to March 2011 compared with trend levels in recent years.
The range in the quality and size of the new supply – ranging from studio units to luxury - would be critical to absorption rates and the size of apartment growth.</body></html>

No risk of inner-Melbourne apartment oversupply until 2013: ANZ

<html><body>
The Northern Territory/Kimberley pastoral property market will remain in a state of limbo until there is some certainty on the resumption of live cattle export trade, according to Herron Todd White valuer Terry Roth.
“It remains very difficult to judge what the longer-term impact on property prices may be as we do not expect to see any market activity until the position becomes clearer,” Mr Roth said.
“But there is no doubt that the risk profile of investing in the northern Australian cattle industry has been elevated, even if the trade resumes immediately.”
Under the terms of pastoral leases, most stations have no practical alternative use other than cattle production, and economically, the only significant profitable market at present is the live export market to Indonesia.
“To put the Indonesian live export trade in context, Australia has exported live cattle for more than a century.
“We supplied about 500,000 head per annum to Indonesia – which was about 80% of our live cattle exports. It also represents about 25% of Indonesian beef consumption.
“The trade represents about $300 million per annum and is one of the Territory’s largest industries and by far its largest primary industry.
“Cattle producers across northern Australia, but especially in the Kimberley and the northern half of the NT, have come to rely almost exclusively on this market for their cattle.”
He said the industry had invested heavily in station infrastructure and herds in the last two decades, replacing inferior British breeds (such as the Shorthorn) with the tropically adapted Brahmin, to suit the live export trade.
The cost of freight to domestic markets was prohibitive, with the nearest commercial-scale abattoirs located at Townsville, Mr Roth said in HTW’s June month in review.
Danny Glasson, another HTW valuer, said prior to the introduction of the live export ban in June the pastoral market for Cape York Peninsula and the Gulf was already thinly traded with a number of properties on the market but very few buyers despite exceptional seasonal conditions across most of North Queensland during 2010.
“Cape York Peninsula in particular has seen property values come back substantially from peak levels reached around 2007/2008 , and the recent sale of Kingvale Station for only $875,000 – substantially lower than market expectations – is reflective of current conditions, albeit this sale was sold mortgagee in possession.
“There has been interest for closer in pastoral properties with Crystalbrook River recently transacting at asking price to an overseas buyer for $2.75 million,” Mr Glasson said.
He said prior to the live export ban agents were reporting limited enquiries for northern pastoral properties, although there would still appear to be some interest for closer in properties that have proximity to Tablelands and coastal fattening areas.
“Of interest, also in the north is a number of producers looking to value add product either by going organic or moving into the retail chain by acquiring butcher shop operations,” the report said.</body></html>

Top End cattle market in the doldrums after live export ban

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Westpac, AMP and ING Direct are among a number of lenders that have lowered their fixed interest rates in the last month.
The moves downward come as more borrowers opt to fix their repayments in anticipation of future rate rises.
The RBA is expected to keep rates on hold at its July 5 monetary policy meeting.
According to Mortgage Choice, the popularity of fixed interest rate <a href="https://www.mortgagechoice.com.au/">home loans</a> hit their highest level in five months in June, reaching 12.3% of all approvals, compared to 11.6% in May and a one-year moving average of 9.5%.
Constant speculation about interest rate rises in the latter half of 2011 and beyond may have convinced a higher number of borrowers to lock in their rate “rather than feel their stomach churn with each piece of speculation,” according to Mortgage Choice.
Every state apart from SA saw a rise in popularity for fixed rate loans. The largest increase in interest came from WA, where demand rose from 9.4% in May to 14.2% in June.
There is now only one tenth of a percentage point difference between the average three-year fixed rate – traditionally the most popular fixed rate product – and the average basic variable rate.
Newcastle Permanent Building Society has made the most recent changes to fixed rates loan.
From July 4, its two-year fixed rate loan reduces from 7.19% to 7.09% and its four-year fixed rate loan drops from 7.69% to 7.59%.
On June 27, Westpac cut rates on nine out of ten of its fixed rate products, the biggest cut coming to its two-year fixed rate mortgage which reduced from 7.39% to 7.29%.
The Commonwealth Bank has also cut rates on a variable rate mortgage, announcing on June 24 it had reduced the interest rate on its no-fee variable interest rate home loan by 13 basis points to 7.11%. Ongoing discount loans remain the most popular choice among borrowers (32%) followed by standard variable rate mortgage (25% of all loans) and basic variable mortgages (21%)
According to Mortgage Choice, a range of good ongoing discount rate home loan deals still available to borrowers account for overriding popularity of that product type.
</body></html>

Lenders continue to cut fixed rates

<html><body>
Australian borrowers are likely to be spared an interest rate rise when the Reserve Bank meets in July.
But while many expect the hike could come as soon as August, some money market traders believe the next move could be a cut with bond markets pricing in a full 25 percentage point cut by early next year, which would take the cash rate to 4.5%.
All 10 economists surveyed by AAP said the RBA would keep the cash rate at 4.75% for July.
Six of the 10 say the cash rate will be raised to 5.0% in the September quarter, and all believe there will be a rise before the end of 2011 given Australia's mining investment boom is expected to lift economic growth to 4% during the 2011/12 financial year, with higher inflation kicking in.
A survey of 22 economists by Reuters found that all 22 expect the official cash rate to remain unchanged at 4.75% for the seventh month in row.
However, the majority (17 out of 22) expect a 25 basis point interest rate rise in the third quarter of the year and one in two expect another 25 basis point rate rise in the fourth quarter of the year, taking the official rate to 5.25%.
Westpac, Citibank and St. George economists are among the minority of economists who don’t expect a rate rise in 2011.
HSBC chief economist Paul Bloxham forecasts the next rise will be in August.
He expects the Australian Bureau of Statistics on July 27 to announce an elevated inflation reading for the June quarter.
Mr Bloxham has likened the endless interest rate speculation to Samuel Beckett's play, Waiting for Godot.
''Much like Beckett's protagonists who spend the whole play waiting for the arrival of a character named Godot, we continue to wait for an RBA hike,'' Mr Bloxham told the SMH.
Godot never does arrive in the absurdist play, and Bloxham says the bond markets are taking a similar view on whether the RBA will follow through on its tough rhetoric with action.
"Although recent weaker domestic indicators – particularly softer employment growth and business conditions – provide some risk to this timeframe," Mr Bloxham says.
"Nonetheless, we think hikes will be forthcoming and give little credence to the argument that the next move is down.
"The mining investment boom is a massive multi-year story and to stop it there would have to be a significant rout in iron ore and coal prices, which seems unlikely, given continued Chinese demand," Mr Bloxham says.
Deutsche Bank's fixed income strategist, David Plank, stresses that market pricing should not always be taken literally, because bond traders are weighing up the likelihood of two very different scenarios.
''It's not unusual for the market to diverge quite a bit from the RBA's central view,'' Mr Plank says.
</body></html>

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