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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A group of real estate agencies is preparing to limit the amount of data they provide advertising giant REA Group and its property site realestate.com.au in order to have more control over payment terms.
But real estate classifieds veteran and former REA Group chief executive Simon Baker has dismissed the plan as “noise”.
According to Real Estate Industry of Australia president David Airey, “Project Rebellion” is being headed up by various real estate groups including the Professionals and Ray White in order to reduce their costs for online listings.
“I think the agents are starting to feel like they’re giving away the farm. The information has been essentially enslaved by realestate.com.au and to a lesser extent Domain.com.au, but realestate.com.au has been the main one here,” Airey says.
“As a lot of the agents would say, they’ve enslaved the industry because you can’t do without them.”
Airey’s comments coincide with a report in The Australian Financial Review this morning which claims groups including LJ Hooker, Ray White, Raine &amp; Home and Century 21 are preparing to discuss how they can set up alternatives to REA Group.
Airey says a meeting set to take place in the next few weeks will see companies decide on their next course of action.
While real estate agents have long said they are unhappy with the high costs associated with putting data online through REA Group, alternative ventures to combat realestate.com.au have lacked momentum. Now, Airey says, that may change.
“The franchised groups and a few others are looking at restraining the flow of data. Agents will probably start to retain their own data and then release it to the institutes.
“You do have real estate institutes running web portals, information on sales, and so on. The aim is to start controlling their own data, and let’s say this is little footsteps of returning control to industry portals.”
This has happened before, however. Real estate companies have previously attempted to combat REA Group, but former chief executive Simon Baker says it’s incredibly difficult to do so.
“I would say the industry for many years has complained about pricing – it’s all too much, in their mind. But it’s okay to spend more than on print. So you always get this noise, and so I think it’s just that – noise.”
“You have to do a number of things here. You have to set up a website with an equivalent number of listings, because if you have less listings people aren’t going to visit your website.”
Then, he says, the site needs to create awareness, and then convince users they need to go to the new site instead of REA. Traffic is a huge issue, he says.  “Consumers need a reason to go from looking at REA to looking at your site.”
“Good luck at getting all those into place. You also have to get agents to stop dealing with REA. But you have to see a co-ordinated effort to change anything.”
Airey, however, remains positive.
“Previously when this has occurred everyone thinks, “Oh, it won’t happen.” But the biggest issue for agents is that their costs have blown out, and for the slightest thing you can be charged a large amount of money. Agents want more control.”
This article was originally published by <a href="https://www.smartcompany.com.au">SmartCompany.com.au</a>
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Real-estate agents planning rebellion against REA dominance

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Further evidence of the tough trading conditions for the real-estate sector has been revealed in the 75% jump in the number of construction businesses whose risk assessment was downgraded during the March quarter 2011.
One in seven (14%) construction firms was downgraded in the March 2011 quarter, compared with 8% a year ago, according to the latest Dun &amp; Bradstreet Corporate Health Watch report.
Nearly one in 10 (9%) businesses in the category of real estate, finance and insurance suffered a similar fate in the March 2011 quarter. In the March 2010 quarter just 3% of businesses in this category were downgraded into riskier categories.
Dun &amp; Bradstreet is unable to provide a breakdown of these figures.
In absolute terms 20,185 firms out of a total of 229,649 finance, real-estate and insurance companies on the Dun and Bradstreet suffered ratings downgrades, compared with 6,726 (out of 222,792) that experienced deteriorating risk scores in the first three months of 2010.
<a href="/images/stories/dunn.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/dunnthumb.jpg"></a>
Source: Dun &amp; Bradstreet
The figures come on the back of Real Estate Institute of Australia president David Airey claiming in May that up to 10,000 real-estate agents have quit the industry in the past year, reducing total numbers from 60,000 to 50,000.
Businesses operating in the Northern Territory, Victoria, South Australia and Tasmania recorded the worst deterioration of risk scores over the past 12 months, with the Northern Territory the country’s most precarious commercial market during the March quarter 2011, according to Dun &amp; Bradstreet.
Downgrades in Western Australian rose only minimally since the first quarter of 2010, reflecting the robust outlook for that state.
Professionals CEO David Hobbs, who manages 66 offices in WA and the Northern Territory, calls the market the “toughest it has been in 20 years”.
“There are fewer investors in the market, fewer first-home buyers and difficulties in obtaining financing from lenders,” he tells Property Observer.
He estimates that the number of WA estate agents has decreased from about 11,500 three years ago to about 7,500 now.
In total, more than 145,000 businesses have suffered a risk downgrade in the March quarter 2011. Businesses faced challenges from rising payment terms and a weaker than expected outlook for sales and profits, which put pressure on cash flow.
The risk outlook is not likely to improve in the June quarter, with interim results revealing that more than 62,000 firms were downgraded in April (29,100) and May (32,656).
Dun &amp; Bradstreet CEO Christine Christian says “almost exclusively business failure is a result of poor credit risk and negative cash flow.”
“These factors are the primary cause of insolvency and can occur at any time regardless of the macroeconomic outlook,” she says. “It is a reminder of the need for firms to pay attention to the fundamentals particularly, at times when rapid growth places pressure on a firm’s cash flow.”
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Construction sector, real estate in the doldrums: Dun & Bradstreet

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Perth apartments are good medium- to long-term investment opportunities, according to the Property Observer’s mid-year Property Clock.
Property analysts place the market at 4.30 on the clock, meaning it is not far off the bottom of the market and just behind the Brisbane market, which is still recovering from devastation from floods earlier this year.
The two biggest markets – Sydney and Melbourne – have both passed their peaks and are heading into a decline.
Hotspotting.com.au director Terry Ryder says its “danger time” for investors in the Melbourne unit market, as an oversupply of stock looms.
The outlook is also rather gloomy for Adelaide, where unit prices are cooling and more pain is predicted for investors.
Clocking in at two o’clock on the property clock, Adelaide is further along the property cycle than Sydney or Melbourne, suggesting a recovery in prices could come along sooner.
As for the smaller capital city markets, the situation appears particurlarly bleak in Hobart, which Ryder says has the “weakest prospects”. According to the clock, Hobart’s apartment market is well into a decline, sitting at three o’clock.
Darwin’s market is also heading down, but as it has the highest yields in the country, investors might still be able to find good opportunities. Furthermore, a discounted market might present opportunities for investors before resources projects in the area spark a revival.
Both Terry Ryder and SQM managing director Louis Christopher warn investors to steer well clear of the “basket case” Gold Coast and Sunshine Coast markets.
<img style="display: block; margin-left: auto; margin-right: auto;" src="/images/stories/clock%20generic.jpg">
At 12 o’clock the market is at its peak (demand exceeds supply), at 3 o’clock the downswing has set in (an evenly supplied market0,) and by 6 o’clock it has bottomed out (an oversupplied market). At 9 o’clock the market is rebounding (supply is tightening).
 
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<h1>Perth</h1>
Population: 1,696,065 Median unit price: $401,250 Rental yield: 4.9% Property clock time: 4.30 
<img style="display: block; margin-left: auto; margin-right: auto;" src="/images/stories/June22clocks/clock-perthunits.jpg">
The demographics of the Perth market are all relatively favourable: a balanced but tightening market in terms of rental vacancies, decent demand for new units and steady construction of new apartment blocks.
Brendan Aylmore, WA branch director at valuer WBP, expects an increase in investor demand and a reduction in unit stock levels on the back of increase in rental yields.
A further boost to demand may come from first-home buyers pushed into the unit market due to increasing rents.
“There will be a large amount of office space being taken up in the next 12- to 18-month period with a larger number of new works being moved to the CBD, which should result in further demand for properties from both owner-occupiers and investors,” Aylmore says.
Hotspotting.com.au director Terry Ryder is also bullish on Perth units following three weak years. “Perth’s market is set to recover on the back of the resources boom and government infrastructure spending,” he says.
Not so bullish is SQM managing director Louis Christopher, who warns that Perth is more sensitive to interest rate movements than what many realise. Christopher sees Perth’s unit market at close to the bottom of the market, at five o’clock.
However, “another interest rate rise could set the city back to two o’clock” he says.
<img src="/images/stories/data%20table%20perth.jpg">
 
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<h1>Sydney</h1>
Population: 4,575,532 Median unit price: $466,000 Rental yield: 5.1% Property clock time: 1.30
<img src="/images/stories/June22clocks/clock-sydneyunits.jpg">
At present there is a shortage of available rental units relative to demand, with construction of new apartments and sales continuing at a steady pace.
Demand close to the city remains strong, with Peter Chittenden, Colliers International managing director of residential, saying metropolitan Sydney’s property fundamentals remain sound as demand continues to outpace supply.
WBP New South Wales state manager Chris Lackey says Sydney’s apartment market prices are still at peak levels for new units, “however, activity is predicted to slow this year, which may see a softening in prices”.
“Basic lower-end unit stock is expected to be flat at best. Interest rates and a hit to confidence are the driving factors behind this change,” Lackey says.
While the market has been falling after the surge early in 2010, Hotspotting.com.au’s Terry Ryder says the long-term prospects are solid. “The change of state government will help, if infrastructure promises are kept,” he says.
While the RBA has held firm on interest rates to date, an expected increase in August combined with an ongoing downward swing in housing finance approvals is set to dampen demand, according to Louis Christopher.
“However, the magnitude of the decline will be minimal compared to most other cities. This is one city that really is experiencing a genuine shortage of rental properties,” he says.
<img src="/images/stories/data%20table%20sydney.jpg">
 
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<h1>Darwin</h1>
Population: 127,532 Median unit price: $384,000 Rental yield: 5.7% Property clock time: 1.45
<img src="/images/stories/June22clocks/clock-darwinunits.jpg">
The Darwin unit market is characterised by an over-supply of available property relative to demand, with modest demand for new units and no major uptick in new construction.
Although the market has started to slide downward, investor interest could remain relatively strong due to strong rental returns. Darwin’s gross rental yield for units is 5.7%, alongside 5.6% for houses.
Both Terry Ryder and Louis Christopher are bearish on Darwin apartments.
However, while Ryder says the market is over-supplied, with developers offering incentives to sell product, this could present opportunities for investors to buy at discounts before the resources projects spark recovery.
But Christopher disagrees. “The bubble that is Darwin has popped. It is going to be a steep decline from here, particularly if the RBA lifts rates again.”
<img src="/images/stories/data%20table%20darwin.jpg">
 
<hr class="system-pagebreak">
 
<h1>Melbourne</h1>
Population: 4,077,036 Median unit price: $433,000 Rental yield: 4.1% Property clock time: 1.50 
<img src="/images/stories/June22clocks/clock-melbourneunits.jpg">
Demand for new units is softening as construction of new apartment blocks starts to decline.
Louis Christopher anticipates a 5% decline in the Melbourne market in 2011.
“Stock levels have increased 105% for the past 12 months. Vendors are just now starting to drop their asking prices,” he says.
According to Terry Ryder, it’s “danger time” for investors in the Melbourne inner-city unit market due to the large numbers of new units under construction in the CBD, Docklands and Southbank markets and with more in planning.
“Over-supply looms,” Ryder says.
<img src="/images/stories/data%20table%20melbourne.jpg">
 
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<h1>Adelaide</h1>
Population: 1,203,186 Median unit price: $325,500 Rental yield: 4.6% Property clock time: 2.00  
<img src="/images/stories/June22clocks/clock-adelaideunits.jpg">
There is a shortage of available property relative to demand, though vacancy rates are holding steady as demand for new units remain fair and construction levels remain unchanged.
WBP South Australian state manager Bart Quinn says sales volumes and prices for Adelaide’s unit market have fallen.
“Some large projects requiring off the plan sales have been put on hold due to weak demand and rising building costs. Buyers in the market for established stock are generally cautious and looking for good value,” he says.
Quinn says prices and demand for older-style units and flats in inner-city localities have cooled due to very weak demand from first -home buyers.
Louis Christopher expects “more pain to come” as vendors start cutting their asking prices. “However, there is a chance the magnitude of the declines will be modest,” he says.
Despite its position on the clock, investors can still look to Adelaide for opportunities in what Terry Ryder says is the most affordable mainland capital for units, supported by an underlying strong economy.
<img src="/images/stories/data%20table%20adelaide.jpg">
 
<hr class="system-pagebreak">
 
<h1>Canberra</h1>
Population: 358,222 Median unit price: $420,000 Rental yield: 5.4% Property clock time: 2.20
<img src="/images/stories/June22clocks/clock-canberraunits.jpg">
Currently the Canberra unit market is characterised by a shortage of available property relative to demand, with vacancies tightening as the volume of unit sales declines.
In its Canberra apartment report, Colliers attributes demand for residential property to “the strength of the local economy, employment opportunities, population growth and lifestyle”. The ACT unemployment rate stands at 3.7%, well below the national rate of 4.9%.
Canberra sits between the peak of the market and heading into a downswing.
With its strong fundamentals, analysts expect any declines to be modest in comparison to other markets.
“Any dip in the market is likely to be small. Canberra remains our most reliable city market, buoyed by strong incomes and low unemployment,” Terry Ryder says.
But he warns investors to be wary of the Kingston foreshore precinct, which he says has a recent history of problems.
<img src="/images/stories/data%20table%20canberra.jpg">
 
<hr class="system-pagebreak">
 
<h1>Hobart</h1>
Population: 214,705 Average unit price: $280,000 Rental yield: 5.5% Property clock time: 2.50 
<img src="/images/stories/June22clocks/clock-hobartunits.jpg">
Hobart’s unit market is heading south despite a shortage of available property relative to demand. Vacancy trends remain steady as a decline in construction is matched by a softening in demand for new units.
“Unit stock levels are rising,” Louis Christopher says. “Hobart is another city where the magnitude of the declines may well be modest as income to house prices appears to be fair.”’
The proportion of family income required to meet loan repayments decreased to 34.2%, down from 35.3% in the December quarter 2010, according to the March quarter REIA/Deposit Power Housing Affordability report.
Despite improvements in housing affordability, Terry Ryder remains bullish on the unit market.
“Hobart is the city market with the weakest prospects,” he says, with the state economy, weak population growth and the political situation all “unhelpful” factors.
Ryder expects the market to fall further. Like the housing market, he says the unit market is showing signs of price decline.
<img src="/images/stories/data%20table%20hobart.jpg">
 
<hr class="system-pagebreak">
 
<h1>Brisbane</h1>
Population: 2,043,185 Median unit price: $377,500 Average weekly rent: 5.1% Property clock time: 4.40
<img src="/images/stories/June22clocks/clock-brisbaneunits.jpg">
Brisbane’s unit market position on the property clock is the closest in Australia to bottoming out.
Not surprisingly, it’s in line with its housing market, which sits at 5pm on the <a target="_blank" title="Brisbane clocks in at bottom of market" href="https://www.propertyobserver.com.au/trends/brisbane-clocks-in-near-bottom-of-market/2011060350400">Property Observer housing clock</a>. 
The market is characterised by investor demand underpinning transaction volumes in the inner-Brisbane market, “especially for price-pointed, affordable stock generating strong rental income,” according to the Colliers Brisbane apartment market forecast.
However, in the medium term Colliers says the market might be adversely impacted by rising interest rates and increasing vacancies.
Furthermore, although the inner-Brisbane vacancy rate is currently only 3.1%, a substantial volume of investor stock will be completed in the short term, and is likely to push up vacancies.
Daniel Lewis, WBP’s Queensland state manager, reports that Brisbane has remained well insulated over the past few years from decreases of as much as 30% in apartments values on the Gold Coast and Sunshine Coast.
However, recently units have experienced a slight correction in values.
“Affordable rental accommodation in Brisbane is scarce at present, resulting in strong rental income for units. Further correction in prices may result as the year continues for new stock in the CBD and new or near-new townhouses in the fringe suburbs,” Lewis says.
Louis Christopher describes the Brisbane market as “bleak” and says the bottom of the market is at least 12 months off. “There is over six months of stock on the market, he says.
Both Christopher and Terry Ryder agree on a gloomy outlook for the nearby Sunshine Coast and Gold Coast markets.
“The Gold Coast is a no go zone and the Sunshine Coast is also weak,” Ryder says. “Over-supply will restrict growth for several more years.”
“The Sunshine Coast and Gold Coast are basket-case situations,” Christopher says.
<img src="/images/stories/data%20table%20brisbane.jpg">
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Almost time for Perth units to recover

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Coal mining executive Peter Bond from Linc Energy has spent $2,125,000 to buy the landmark 125-year-old former Redfern post office, now an office building, as an investment. It was sold recently by Max Markson, the publicist who had used the Redfern Street heritage property as the base for publicity business Markson Sparks for five years. The building, which has a clock tower and bell, sold through McGrath agents Paul Ephron and Ben Forsyth. Markson had bought it from Sorin Dascalu &amp; Associates in 2006 for $1.9 million.
“This commercial opening comes at a time of exciting regeneration and rapid development to the vibrant city fringe location,” Ephron says.
The former Redfern Post Office, in Redfern, NSW, was built in 1882. It has a two-storey Victorian Italianate building plus a dominant four-and-half-storey corner clock tower. The post office included a telegraph office, parlour, drawing room, three bedrooms, kitchen, a servant’s room, bathroom, scullery, washhouse, fuel shed and two stall stables. In 1880, £3000 was provided for the erection of the Redfern post office, and then the Public Works added a clock tower for an estimated extra £700.
The building has 480 square metres of internal space on its 330-square-metre Redfern Street block. Markson is looking for bigger space, and the upstairs tenant, Andrew Forrest’s Generation One Aboriginal employment initiative, retains occupancy of the upstairs space.
Redfern’s recent sales include Fiona Lochtenberg, the wife of Cockatoo Coal director Mark Lochtenberg, spending $2,215,000 through Cushman &amp; Wakefield agent<a title="Cushman &amp; Wakefield - Sydney" href="https://www.realcommercial.com.au/sold-leased/by-abcsyi/list-1"> </a>Lindsay Sturrock for a two-storey premises with 702 square metres of space on its 493-square-metre holding.
The Turner Street premises are opening as upmarket cabintery premises, Studio Becker, after a refurbishment overseen by Dale Jones-Evans Architects.
Bond has been an active player in the coal and gold mining industries in Australia for about two decades and overseas after building on his early engineering background. He gained a unique knowledge and understanding of the coal mining industry over the course of a diversified career spanning more than 20 years. Linc Energy is a Brisbane-based energy company specializing in coal and synthetic fuel production.
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jchancellor-FAypfDUnLy

Redfern proving magnetic for coal executives

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Not many investors may have heard of Tiwi, the small coastal suburb 12 kilometres north of the Darwin CBD with about 3,000 residents.
But its inclusion alongside the more fashionable big-name suburbs of Potts Point, Sydney and Carlton in Melbourne in the St George National Hotspots 2011 report suggests investors cast their nets northwards.
Rod Hass, residential sales manager at Knight Frank in Darwin, calls Tiwi one of the city’s “sleeping giants”.
He says houses on large blocks of about 800 square metres generally sell in a range between $480,000 and $600,000, mostly via private treaty.
“Currently, houses are selling mainly in line with the market, between $450,000 and $550,000,” Hass says.
Tiwi is within walking distance or a short commute from the Casuarina Coastal Reserve and beach, Charles Darwin University the Royal Darwin hospital and the biggest shopping mall in the Northern Territory, the Casuarina Square, which Hass says all adds to the appeal of the suburb.
The suburb is served by good bus services to the city, and the St George report says private vehicle access to the suburb is good via Trower Road. In addition, the smaller population in Darwin lends itself to less public transport, and people primarily use private vehicles to travel around the city.
Hass says growth in Tiwi house prices is being boosted by the new sub-division in the neighbouring suburb of Lyons, where Defence Housing Australia houses are being built.
Hass describes it as an established suburb popular with families and owner-occupiers. 
A buoyant market
Nick Mousellis, realtor at Ray White Darwin, tells Property Observer the Tiwi market is “very buoyant” at the moment.
He recently sold a four-bedroom, two-bathroom house at 52 Tiwi Gardens Road with landscaped gardens, after holding the listing for two months.
After “careful renovations” Mousellis says the property achieved a sale price in excess of the asking price – it was listed at $570,000.
“The owner is an out-of-towner who has bought the property as an investment for now and somewhere to move into when they eventually relocate,” Mousellis says.
According to the St George report, “Tiwi’s houses often have significant renovation potential, both internally and externally, while the large land sizes can allow for extensions of dwellings, construction of pools, or possible subdivision”.
Like Hass, Mousellis also highlights Tiwi’s proximity to local amenities as well as its relaxed feel and affordability.
RP Data currently lists the median price in Tiwi at $526,500. House prices have appreciated by 16.9% over the past 12 months, significantly higher than 0.2% recorded for Darwin over the year to March 2011. 
Tiwi versus Darwin prices
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="195">
 
</td>
<td valign="top" width="207">
Tiwi 
</td>
<td valign="top" width="215">
Darwin
</td>
</tr>
<tr>
<td valign="top" width="195">
Median house price
</td>
<td valign="top" width="207">
$526,500
</td>
<td valign="top" width="215">
$470,000
</td>
</tr>
<tr>
<td valign="top" width="195">
Median weekly rent
</td>
<td valign="top" width="207">
$490
</td>
<td valign="top" width="215">
$190
</td>
</tr>
<tr>
<td valign="top" width="195">
Yield
</td>
<td valign="top" width="207">
4.8%
</td>
<td valign="top" width="215">
5.6%
</td>
</tr>
<tr>
<td valign="top" width="195">
12 month capital growth
</td>
<td valign="top" width="207">
16.9%
</td>
<td valign="top" width="215">
0.2%
</td>
</tr>
</tbody></table>
Source: RP Data
More than two-thirds (72%) of homes are detached houses, and due to the climate, most have swimming pools.
There is strong investor interest already in Tiwi, with 41.4% of all dwellings rental properties. The percentage of houses that are rentals is 29.3%.
According to RP Data, the median weekly rent has risen to $490, which when combined with the median house price translates into a gross rental yield of 4.8%.
Although the suburb is is adjacent to the ocean, no houses are on the waterfront and according to St George it is “highly unlikely any have a view of the ocean”.
However, as many of the houses offer scope for substantial renovations, extensions or rebuilds, the suburb is well positioned for future median house price growth. 
According to the St George report, houses close to amenities are likely to be the most desirable.
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Hotspot: Darwin's Tiwi a 'sleeping giant'

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A second apartment at The Cove Clovelly boutique apartment project in Sydney’s eastern suburbs has been sold off the plan.
The apartment, a three-bedroom unit located on the ground floor measuring 116 square metres, has been bought for $2.2 million, equating to about $19,000 per square metre. The buyer is an eastern suburbs-based owner-occupier.
This follows an earlier sale of a second-floor 120-square-metre apartment for $2.65 million, equating to around $22,000 per square metre.
Co-agent David Poppleton from RPM Group says there is an undisclosed offer on the 248-square-metre penthouse.
The Cove Clovelly, situated on Donnellan Circuit overlooking Clovelly Beach in Sydney’s eastern shore, features four apartments and two penthouses. Construction has commenced and it is due to be completed in 12 months.
“We expect to sell another two apartments while under construction and the other penthouse on completion,” Poppleton says.
Although there is strong interest in the development, Poppleton says buyers are more cautious.
“People are being very discerning. If you don’t have the right products they will wait,” he says.
The development is being marketed by Poppleton and Peter Coulton of Savills Residential Projects.
It has generated more than 450 registered expressions of interest since being launched in February 2011.
Coulton says interest has mainly been local, but includes potential buyers from Hong Kong and Singapore.
Coulton says the Clovelly market is quite strong because nothing else is being built in the suburb or in the surrounding suburbs of Bronte or Tamarama.
“There is quite a bit of development in Coogee,” he says.
Interest in Clovelly is not reflected in the wider Sydney market, with listed developer Becton reporting that off-the-plan buying for its Divercity apartments has levelled off in 2011.
Becton has submitted plans for the second stage of its Divercity project on Bourke Street in Waterloo featuring 359 apartments.
 “[Buyer pre-sales] are certainly not as strong as they were in 2011,” Becton CEO Matthew Chun has told the Australian Financial Review.
“There is generally more cautious behaviour from the consumer due to natural disasters and continued economic shocks around the world.”
The Cove Clovelly is been developed by Iris Capital and designed by Squillace Nicholas Architects.
The interiors use raw timber and natural stone features to present a modern interpretation of luxury beachside living.
A two-bedroom, two-bathroom apartment in the development is currently being marketed at $2.155 million by Peter Coulton and David Poppleton.
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Clovelly catches two off-the-plan buyers as caution increases

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Melbourne audiences didn’t tune in en masse to the second night of The Block, with the realty series recording a 26% decline in home town viewers.
The national audience slipped from 1.34 million to 1.11 million, a 17% drop.
But the 384,000 viewers in Melbourne ensured in remained in the top 10 most watched programs of the night, albeit well behind Australia’s Got Talent and Masterchef.
Its Sydney numbers fell 10% to 326,000 viewers.
The Block isn’t quite the fallen giant, as it remains very popular with highly prized 18- to 49-year-olds, who had the show sitting as their fourth most watched program.
In the over-55 category the show was the 20th most-watched show on the night.
The production company behind The Block paid $3.6 million for a row of four rundown single storey houses in Richmond.
It is likely that the show’s ratings will pick up once the elimination rounds are over and the couples are assigned their houses.
One of the Victorian and Edwardian terraces is double fronted, and the three other narrower terraces have planning permission to build a second floor.
Records are sketchy, but it’s believed these houses were built some time between Federation (1901) and the start of The Great War (1914). Prior to acquisition for The Block they had been sorely neglected.
“They were tenanted by squatters, vagrants and rats in no particular order,” consulting architect Julian Brenchley notes.
“These were perhaps the worst houses in the best suburb. It’s intended that the buildings will now have a dual character. Keep what’s funky about the old houses as they present to the street and add new ‘mad’, north-facing modern additions to the rear. The yin and yang thing, old and new.”
The Block executive producer Julian Cress hopes the finishes, the fixtures and the fittings will make them the best product is available at the time in Richmond “by a long way."
The most striking aspect of The Block continues to be the prominent product placement, with everything from regular trips to major sponsor Mitre 10 hardware stores to Bisley Workwear and Blundestone Boots.
During The Block 2011 Designer Series cladding, a new exterior cladding product from CSR Cemintel, will be used for the first time in Australia.
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Melbourne viewers wait for The Block's real renovation

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Land devoted to farming continues to decline, with 52% of Australia's total land area now devoted to agriculture, a 4% decrease in the two years since 2007-08, according to the Australian Bureau of Statistics.
Tasmania has the lowest proportion, with just 24% of state set aside for agricultural business.
The highest usage was Queensland, with 75% of the state set aside for farming.
The largest change in land managed by agricultural businesses was in the Northern Territory, where such land has decreased by 13% since 2007-08.
The ABS says Australia has 134,553 agricultural businesses over a total 398,580,000 hectares.
The land is overseen by farmers who are typically aged 55 and have owned and managed the business for 23 years, according to Land Management and Farming in Australia, 2009-10. According to the Australian Bureau of Statistics, the median age of farmers in farm families was 52 in 2006, highlighting the issue of succession plans for Australian farmers.
Grazing property dominates, with some 78% of agricultural businesses devoted to grazing activities, an 8% increase since 2007-08.
Grazing was the most common activity in all states, except South Australia, where cropping activity was most common at 72%.
Nationally, 88% of agricultural land was used for grazing, and of this, 15% was on improved pasture and 73% on other agricultural land.
Nationally, almost half (48%) of all agricultural businesses in Australia were also engaged in cropping activities.
Some 17% of agriculture businesses were engaged in horticulture.
The data are estimates from the 2009-10 Agricultural Resource Management Survey, which got a response rate of 87% from about 38,000 agricultural businesses.
In 2007-08, approximately 54% of Australia's total land area was managed by agricultural businesses. The state with the lowest proportion of land managed by agricultural businesses was Tasmania (23% of state area), and the highest was Queensland (82% of state area) in 2007-2008.
Grazing land accounted for 87% of land managed by agricultural businesses in the previous survey, which included both grazing on improved pasture (16% of agricultural land use) and other grazing land (71% of agricultural land use). Other agricultural land use included 8% for cropping in 2007-2008.
The latest survey found in 2009-10, about 60,000 agricultural businesses prepared land for crops or horticulture, covering 25.1 million hectares. The majority (54%) of these businesses reported that they did not undertake cultivation. Almost half (29,000) of businesses undertook two cultivation passes or fewer with only 19% (11,000 businesses) reporting three or more cultivations.
Nationally 19 million hectares was prepared using zero-till, compared with 5 million hectares prepared using one or two cultivation passes. Western Australia performed zero-till on the largest area of land prepared for crops and pastures (7 million hectares) and the Northern Territory the smallest area (1,000 hectares).
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Farmers getting older as their acreages decline

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{yoogallery src=[images/stories/June23pakenham]}
51 Comorant Parade, Pakenham, Victoria, 3810
With lake frontage, this five-bedroom, three-bathroom house has luxurious fittings and finishes. It has a huge family room and separate retreat, a modern kitchen and a beautiful "outdoor room" with a spa and entertainment area. The house is within walking distance of shops and cafes, and it has a double garage with internal access. The house is being sold by <a href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=VIC60406581&amp;listing=residential&amp;buyrent=buy&amp;sbrb=PAKENHAM&amp;State=ViC&amp;pcde=3810" title="Century 21" target="_blank">Century 21</a> agent Craig Currie, with expectations of $650,000 plus.
 
 
{module 238}
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Lakeside luxury in Pakenham

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Actor Nicole Kidman’s $6.5 million Sutton Forest country retreat will soon have a coal exploration test bore on its front perimeter – and another out the back – after the Cockatoo Coal company secured permission for 120 drill holes for its vast Southern Highlands exploration project.
Kidman is among the 424 land owners in the approved 115-square-kilometre exploration area who were recently advised as to where the holes will be drilled. Some now fear that the potential mining  will not only destroy the peace of the area but also contaminate underground water reserves.
In 2008 Nicole Kidman and her country music star husband, Keith Urban, snapped up Bunya Hill, a 45-hectare cattle stud with a magnificent 1878 Georgian mansion, thinking they would be allowed at enjoy the home in peace.
With wide sandstone verandas, pressed-metal ceilings, a carved cedar staircase and 10 marble fireplaces, it has the proportions and details that made it worthy to be leased as a vice-regal rural retreat for Lord Augustus Loftus, a governor of NSW in the colonial 1880s.
Now it has been caught up in a coal mining battle, with 2,500 locals recently telling the South Korean ambassador, Dr Woosang Kim, that there will be considerable and vocal opposition to any mining by the venture partners leading South Korean steel manufacturer POSCO and its Australian partner, Cockatoo Coal. The coal seam that POSCO and Cockatoo plan to extract lies below a vital aquifer, an important water resource for residents.
Exploration authorisations in NSW do not permit mining, but exploration is the method for gathering information about the size, quality and location of the coal seam as a prelude to whether it can be economically extracted.
Drilling of the exploration holes for the project will require an area of 25 metres by 25 metres.  Holes will be drilled in cleared areas wherever possible, and land will be fully rehabilitated on completion, according to the company website.
The miners have faced strong community opposition since in mid-2010, when the Southern Highlands Coal Action Group was formed. The community group, now called “Shoo Cockatoo” has held a series of public meetings in the Southern Highlands and has also sought the support of local politicians, including Goulburn MP Pru Goward and Wingecarribee Shire Council.
Southern Highlands Coal Action Group co-ordinator Tim Frost has been advising landowners to lock the mining company representatives out and says he is not aware of any agreeing to access so far.
SHCAG had a meeting with new Resources and Energy Minister Chris Hartcher on the Coalition Government's new Strategic Regional Land Use policy in Sydney earlier this month, which was organised by Goward.
But the coal action group weren't the only visitors to Hartcher's office, with POSCO also visiting the Macquarie Street offices.
The community’s concerns also revolve around future mining, including subsidence damage, dust and noise from surface facilities, changes to the character of the area and property values. 
Landowners fear that property values may have fallen 30% given buyer hestitation at buying while doubt remains over the prospect of mining.
The company believes there is a perception among its opponents that delaying the exploration program will stop any future mining proposal.
But the drill timeline has been recently brought forward after the timely receipt of all necessary approvals from the NSW Government and the engagement of a local drilling contractor to undertake the work, project manager Mike Cunnion said recently.
 
<a rel="shadowbox" href="/images/stories/coalkidman.png" title="Click to enlarge"><img src="/images/stories/coalkidmanthumb.jpg"></a>
 
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The first phase of what’s known as the Hume Coal Resource is drilling at 30 sites in the Belanglo State Forest, with the program expected to take up to 16 weeks to complete.
Drilling will extend over a three-year period depending on the timing of land owner access agreements and availability of drilling rigs.
The 120 boreholes to be drilled into the Wongawilli Seam will be subject to geotechnical evaluation, and selected holes will remain as ongoing water-monitoring bores by the installation of a piezometer.
The exploration area is located in the municipality of Wingecarribee, which is referred to as the Southern Highlands and covers 2,700 square kilometres in the southern section of the Sydney Basin.
Given the generally mild climate and rich soils, the region has a traditional agricultural base, however in recent years the population has grown dramatically due to proximity and goods transport access to Sydney as well as a rural lifestyle environment.
Tourist attractions combined with growth in the wine industry, the region’s historic towns and cottage industry have caused a dramatic rise in weekend and holiday trade. The region also has a longstanding and significant manufacturing industry, including cement manufacture, brickworks, metal fabrication, mining equipment manufacture, quarrying and coal mining.
The predominant land use is agriculture, and the minimum lot size within the majority of the authorisation site is 40 hectares.
Many properties are significantly larger and represent viable commercial farms.
A proportion of the farmland consists of hobby farms, rural lifestyle and equestrian properties.
About 30% of the land in private ownership has an alternative address for rates notices.
Most of these landholders are from Sydney, with a smaller proportion from other states.
Cockatoo Coal’s website notes granting of an exploration licence does not automatically entitle the holder of the licence to enter private property. Access can only occur once an access agreement has been established. The process of negotiation of an access agreement is provided in the Mining Act.
The process requires the company to notify a landholder in writing of its intention to obtain an agreement that would allow access. The notification process must include details of the exploration works proposed and an area over which access is sought.
Land owners also have the right to negotiate the inclusion of property management issues, such as preferred access paths within paddocks, avoidance of paddocks with crops or when sensitive breeding activities are occurring, locations of any new tracks to assist in ongoing farm management, access to water and the like.
Land owners also have the right to negotiate specific issues such as preferred hours of entry, revegetation works including type of pasture to be used, and the type and location of any new gates or fencing that may be needed.
The exploration authorisation potentially allows exploration activities in an area west of Moss Vale and incorporates parts of the Belanglo State Forest. Authorisation for exploration in the Hume Project area was first granted in 1967, and various exploration programs have been undertaken since then.
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