Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

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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{yoogallery src=[images/stories/AlexPerry]}
Name: Alex Perry
Company/organisation: Alex Perry Residential Position: Creative director City of residence: Sydney No. of years in the industry: 20 years in the fashion and design industry
A household name in fashion, Alex Perry's garments have graced the likes of Jennifer Lopez, Miranda Kerr and Natalie Portman. He has now turned his creative eye to a new medium, building design, with the launch this year of Alex Perry Residential. Brisbane entertainment precinct Fortitude Valley will be the site of the first of nine residential ventures, and construction is due to begin next year. The building, in partnership with Chrome Property Group, will be located at 959 Anne Street, with apartments priced from $350,000 to $970,00. Nine Alex Perry Residential buildings will roll out across Australia through to 2021, with a Sydney apartment development to follow Brisbane.
What sparked your initial interest in property/building design?
My family used to go visiting friends and relatives a lot when I was a child. I used to sit in their houses and re-design the rooms in my head. When you’ve got an opinion on fashion it’s not a big stretch to evolve that skill into other areas of design.
What was the first property you bought?
My marital home in Sydney
So far, who or what has been your biggest influence in your life or career?
Beautiful cities are my ultimate inspiration. I love Paris, Athens, Barcelona and New York. The culture of a city is created by a combination of the architecture, the food, the fashion, the art, the geography, the history and the attitude of the people. When I visit a city I immerse myself into all of these elements.
If you had a $500,000 to invest in property right now, where would you invest it?
Alex Perry Residential in Fortitude Valley. A one-bedroom apartment starts from $350,000.
How do you think Brisbane rates in terms of style and creativity compared with Melbourne and Sydney? 
When I think of Brisbane I think "eternal summer", both in terms of the weather and the style of the city, which is fresh, vital, positive and exuberant.
What buildings in Australia (or overseas) do you consider icons of great building design?
The Acropolis (Athens)
The Élysée Palace (Paris)
The Sydney Opera House
What are some of the biggest mistakes people make when designing their home or apartment?
They follow trends that date too quickly.
How does designing an apartment building differ to designing clothes? Are there many similarities?
Good design, whether it’s for the home or the body, is about the classics. Start with a neutral palette in a classical silhouette made from the best materials you can afford. Once you have the basic structure in place, you can overlay with accessories and fun items that can be updated and evolved.
What are you reading at the moment?
The works of author David Sedaris
What are you listening to at the moment?
DJ Sveta creates iPods for me of my favourite re-mixes of music from the 1980s and 1990s.
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lschlesinger-FZcF9M3vE6

Alex Perry: Inspired by beauty

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Industrial rents in Melbourne have risen 1.8% in the first quarter of 2011 and 6.6% for the year, the fastest rental growth in Australia and the Pacific region, according to the latest CBRE MarketView report.
<img src="/images/stories/cbrejune8.jpg">
Melbourne was also home to the Asia Pacific region’s largest leasing deal of the quarter – Coles pre-let of 70,000 sqm of accommodation in Truganina, 21kms west of the Melbourne.
According to the report, the consolidation of distribution operations is particularly evident in the Melbourne’s west sub-region, where affordable land, attractive rents and excellent transport links to the Port of Melbourne have attracted development and cost-conscious occupiers.
The west sub-region comprises seven local government areas of Brimbank, Hobsons Bay, Maribyrnong, Melbourne, Melton, Moonee Valley and Wyndham. 
According to a Melbourne industrial market report released by Knight Frank in March, rents are cheapest in the west, at $69 per square metre, and most expensive in the city fringe, at $125 per square metre. On average, a square metre of prime industrial space in Melbourne costs $74, making it cheaper than Sydney, Brisbane and Perth, all of which feature on the top 10 most expensive industrial rental markets.
The CBRE report ranks Sydney the seventh most expensive location to rent industrial space, at $113 per square metre, with Perth eighth at $113.217 sqm and Brisbane ninth at $109.67 per square metre.
The most expensive industrial rents are to be found in Tokyo (US$22.15 per square foot), followed by London (US$20.04) and Singapore (U$14.04).
<table border="0" cellspacing="0" cellpadding="0" width="87%"><tbody>
<tr>
<td width="15%" valign="bottom">
MARKETS
</td>
<td width="15%" valign="bottom">
COUNTRY/STATE
</td>
<td width="11%" valign="bottom">
REGION
</td>
<td width="10%" valign="bottom">
CURRENCY
</td>
<td width="14%" valign="bottom">
2011 Q1 LOCAL MARKET MEASUREMENT
</td>
<td width="12%" valign="bottom">
2011 Q1 <country-region><place>US</place></country-region> $ PSF EQUIVALENT
</td>
<td width="10%" valign="bottom">
CURRENT RANKING
</td>
<td width="10%" valign="bottom">
PREVIOUS POSITION
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>Tokyo</place></city>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Japan</place></country-region>
</td>
<td width="11%" nowrap valign="top">
<place>Asia</place>
</td>
<td width="10%" nowrap valign="top">
JPY
</td>
<td width="14%" nowrap valign="top">
154.02
</td>
<td width="12%" nowrap valign="top">
22.15
</td>
<td width="10%" nowrap valign="top">
1
</td>
<td width="10%" nowrap valign="top">
1
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>London</place></city>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>UK</place></country-region>
</td>
<td width="11%" nowrap valign="top">
EMEA
</td>
<td width="10%" nowrap valign="top">
<country-region><place>UK</place></country-region>
</td>
<td width="14%" nowrap valign="top">
14.15
</td>
<td width="12%" nowrap valign="top">
20.04
</td>
<td width="10%" nowrap valign="top">
2
</td>
<td width="10%" nowrap valign="top">
2
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<country-region><place>Singapore</place></country-region>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Singapore</place></country-region>
</td>
<td width="11%" nowrap valign="top">
<place>Asia</place>
</td>
<td width="10%" nowrap valign="top">
USD $
</td>
<td width="14%" nowrap valign="top">
14.04
</td>
<td width="12%" nowrap valign="top">
14.04
</td>
<td width="10%" nowrap valign="top">
3
</td>
<td width="10%" nowrap valign="top">
4
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
Sao Paulo/Campinas
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Brazil</place></country-region>
</td>
<td width="11%" nowrap valign="top">
<place>Latin America</place>
</td>
<td width="10%" nowrap valign="top">
USD $
</td>
<td width="14%" nowrap valign="top">
12.88
</td>
<td width="12%" nowrap valign="top">
12.88
</td>
<td width="10%" nowrap valign="top">
4
</td>
<td width="10%" nowrap valign="top">
3
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>Paris</place></city>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>France</place></country-region>
</td>
<td width="11%" nowrap valign="top">
EMEA
</td>
<td width="10%" nowrap valign="top">
Euro
</td>
<td width="14%" nowrap valign="top">
8.36
</td>
<td width="12%" nowrap valign="top">
11.84
</td>
<td width="10%" nowrap valign="top">
5
</td>
<td width="10%" nowrap valign="top">
6
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>Amsterdam</place></city> (Schiphol)
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Netherlands</place></country-region>
</td>
<td width="11%" nowrap valign="top">
EMEA
</td>
<td width="10%" nowrap valign="top">
Euro
</td>
<td width="14%" nowrap valign="top">
8.35
</td>
<td width="12%" nowrap valign="top">
11.83
</td>
<td width="10%" nowrap valign="top">
6
</td>
<td width="10%" nowrap valign="top">
5
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>Sydney</place></city>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Australia</place></country-region>
</td>
<td width="11%" nowrap valign="top">
Pacific
</td>
<td width="10%" nowrap valign="top">
AUD $
</td>
<td width="14%" nowrap valign="top">
113.27
</td>
<td width="12%" nowrap valign="top">
10.87
</td>
<td width="10%" nowrap valign="top">
7
</td>
<td width="10%" nowrap valign="top">
7
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>Perth</place></city>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Australia</place></country-region>
</td>
<td width="11%" nowrap valign="top">
Pacific
</td>
<td width="10%" nowrap valign="top">
AUD $
</td>
<td width="14%" nowrap valign="top">
109.85
</td>
<td width="12%" nowrap valign="top">
10.54
</td>
<td width="10%" nowrap valign="top">
8
</td>
<td width="10%" nowrap valign="top">
9
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<city><place>Brisbane</place></city>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>Australia</place></country-region>
</td>
<td width="11%" nowrap valign="top">
Pacific
</td>
<td width="10%" nowrap valign="top">
AUD $
</td>
<td width="14%" nowrap valign="top">
109.67
</td>
<td width="12%" nowrap valign="top">
10.52
</td>
<td width="10%" nowrap valign="top">
9
</td>
<td width="10%" nowrap valign="top">
10
</td>
</tr>
<tr>
<td width="15%" nowrap valign="top">
<place>Hong Kong</place>
</td>
<td width="15%" nowrap valign="top">
<country-region><place>China</place></country-region>
</td>
<td width="11%" nowrap valign="top">
<place>Asia</place>
</td>
<td width="10%" nowrap valign="top">
USD $
</td>
<td width="14%" nowrap valign="top">
9.93
</td>
<td width="12%" nowrap valign="top">
9.93
</td>
<td width="10%" nowrap valign="top">
10
</td>
<td width="10%" nowrap valign="top">
11
</td>
</tr>
</tbody></table>
According to CBRE’s Global Industrial Rent Index, rental growth has been better than anticipated, with the index rising 1.3% over the March 2011 quarter – the largest quarterly growth since the second quarter of 2007. In the year to March 2011, industrial rents grew by 2.1%.
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Melbourne leads industrial rental growth in Pacific region

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The ACT has exhibited the biggest increase in owner-occupier housing finance commitments, increasing 8.8% in April on a seasonally adjusted basis, according to the latest ABS figures. This follows a 5.2% contraction in March.
The second biggest mortgage growth spurt occurred in Queensland with commitments up 6.2% (after falling 2.6% in March) an indication of post-flood recovery.
This is followed by increases in Victoria and Western Australia of 4.1%, with NSW up 2.7% and Tasmania up 2.3%.
Mortgage commitments have fallen in the Northern Territory (1.3%) and South Australia (1.2%).
On a nationwide basis, the number of owner occupier commitments increased by 4.8% to 47,347 following falls of 6.3% in January, 4.8% in February and 1.1% in March. 
Financing for new housing has risen 9.4% and 5.1% for the purchase of existing housing.
Westpac economist Julene Lee downplayed the latest figures saying “other indicators suggest that the housing sector remains subdued”. 
“We are inclined to put this result down to a modest give back and an Easter effect. It seems that a much later than usual Easter resulted in more activity in April ahead of the holiday disruption,” Lee says.
“We are not expecting another strong national rise in May - although we do expect a further post flood recovery in Queensland.
Finance for the construction of new dwellings – the lead indicator of dwelling approvals – remains flat, up just 0.4% with investor finance down 1.6%.
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ACT leads mortgage growth figures

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{yoogallery src=[images/stories/June8capetrib]}
Lot 61 Cape Tribulation Road, Cape Tribulation, Queensland, 4873
On 13 hectares of absolute Daintree River frontage, this beautiful property offers seclusion and natural beauty. The pole house in far north Queensland would be perfect for anyone who wants to move to paradise permanently or who wants a holiday home where the only sounds are the river and the surrounding rainforest. The two-bedroom, one-bathroom house is being sold by <a href="https://www.ljhooker.com.au/portdouglas" title="LJ Hooker Port Douglas" target="_blank">LJ Hooker Port Douglas</a> agent Michael Samson with an asking price of $695,000 plus. 
 
{module 238}
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cknowlton-QnEa6ntUYP

Take me to the river

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The Housing Industry Association has added its voice of opposition to the Gillard Government’s proposed carbon tax, estimating it will add $6,000 to the cost of a building a home.
HIA’s estimate is based on a $20 per tonne carbon emissions price, but the organisation acknowledges the $6,000 estimate would be lower due to yet-to-be-confirmed compensation measures, which are expected to lower the additional cost by less than 15%.
The HIA believes the carbon tax will have a “significant negative impact” on new housing and Australian jobs.
“It is inevitable that jobs in Australia’s residential building sector and building product manufacturing sector will be lost under a carbon tax,” HIA executive Graham Wolfe says.
Although the government has not yet put a price on carbon, the HIA expects Australian manufacturing will be burdened twice: directly, from the tax, and indirectly, in the form of higher electricity, gas and fuel prices.
“Details on the Government’s compensation arrangements for emissions-intensive, ‘trade-exposed’ operations are at best sketchy, while compensation measures for the tens of thousands of small, medium and larger ‘trade exposed’ manufacturers have to date been off the agenda,” he says.
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Carbon tax to add $6,000 to new home costs: HIA

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Property agents in Poland, Russia, Canada and Brazil reported the biggest decline in the availability of distressed property during the 2011 first quarter.
The pace of distressed property listings also fell in Australia, Malaysia, Hong Kong and Scandinavia, according to an international survey.
Ireland, South Africa, the US and Spain reported the largest increase in the number of distressed property listings, according to the survey that tracks 25 commercial property markets across the globe.
It revealed that although the pace of rising distressed property levels slowed in the first quarter of 2011, rising interest rates in many markets posed new challenges and weighed heavily on the outlook for commercial property.
The survey also suggests that lenders are becoming less lenient with borrowers, as more countries reported that the speed at which lenders start foreclosing increased: 13 countries, up from 10 in the December 2010 quarter.
Of the 25 countries included in the report, 15 reported growing levels of distress, according to The Global Distressed Property Monitor, issued by the Royal Institute of Chartered Surveyors.
It found half the countries surveyed reported a moderation in the pace of distressed property listing coming to market, but that two-thirds are expecting an increase in distressed listings in the second quarter.
The RICS defines a distressed property as one that is under a foreclosure order or is advertised for sale by its mortgagee.
The report also found significant imbalances between the supply and demand for distressed properties.
In China, Hong Kong and South Africa, demand outweighs the expected supply, and the same is true to a lesser extent in Germany and Australia.
Survey questionnaires were sent to real-estate organisations in March, with 411 company responses received across the world.
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jchancellor-FAypfDUnLy

Distressed property listings slow in Australia: Survey

<html><body>
In <a target="_blank" title='Read "Why invest in US housing"' href="https://www.propertyobserver.com.au/trends/international/american-dream-or-nightmare/2011060550324">part one</a> of our series on investing in the depressed US property market, Property Observer talked about who was buying up US housing stock, how and why. In the second part of the series, we discuss the pitfalls of investing in the US property, which might be cheap for a reason.
 
What are the traps?
Australian buyer’s agents point to underhand methods allegedly adopted by some of their competitors.
Hidden commissions: “Every day I am offered upwards of 10 per cent commission ‘if you sell this property to one of your clients’,” says Redman. “We don’t work that way.” He agrees that buyer’s agents who accept such commissions are ripping off their clients.
Redman says some Australian companies have arrangements with American companies to earn a 20 per cent sales commission or to load the price of a property by 20 per cent.
 Two-tier pricing: Redman says it is common practice for agents to list one price for Americans and a much higher price for Australians.
“We have one property for $42,000 and they [another Australian-based company] are charging $62,500 for the same property,” Selleck says.
 Redman claims some Australian companies take an option to buy a <country-region><place>US</place></country-region> property for, say, $30,000 and then market it in <country-region><place>Australia</place></country-region> for $60,000.
"Flipping": US-based “flippers” buy a US property and “flip” it a short time later to Australian buyers at much higher prices. The flippers add little or no value before reselling a property.
“Some Australian companies buy a US property very cheaply, whack a bit of paint on it and then sell it for triple what they paid for it,” Redman says.
 Misleading rental yields: Promoters of US properties quote net annual yields of 10% and more. But such yields, unless sustainable, can give buyers a misleading impression of a property’s value.
 A buyer’s agent told Property Observer that some operators place a tenant in a property for an exorbitant rent that would produce yields of up to 25% if sustained and then sell the property to an Australian. But within a few months, the tenant has often moved elsewhere and the property falls into disrepair.
Jenman says low <country-region><place>US</place></country-region> interest rates mean that if an American can obtain a housing loan, it would be much cheaper to buy than pay high rents.
Unfamiliar markets: We all know parts of our local city or state that astute property investors wouldn’t go near. Of course, it’s the same story in the US. “Some areas are ghettoes that resemble war zones,” Jenman says. Investing away from home is often a high-risk strategy.
What is the outlook for US housing?
Based on just a sample of the economic and sales data available, the outlook for <country-region><place>US</place></country-region> property is far from promising.
US Federal Reserve chairman Ben Bernanke said in a recent address that the poor state of the <country-region><place>US</place></country-region> housing market was holding back the <country-region><place>US</place></country-region> economic recovery.
 Bernanke stressed that foreclosure rates remained very high and many “underwater” homeowners avoided foreclosure by holding on to their homes even though the size of their mortgages exceeded their homes’ value. Additionally, long-term unemployment remained at a historic high, he said.
RealtyTrac, the US online marketplace for foreclosure properties, reports that there were almost 700,000 foreclosures in the first quarter of 2011, a 15 per cent decrease on the previous quarter. But it seems that fall is largely attributable to a backlog of thousands of foreclosures as lenders address improperly prepared mortgage documents.
 RealtyTrac warns of weak demand, declining home prices, lack of credit and the threat caused by the “looming shadow inventory of distressed properties” that are yet to reach foreclosure stage. In short, RealtyTrac expects the foreclosure rate to rise.
 Is investing in US a good idea?
The risks appear excessively high.
For example, Jenman knows an Australian who lost most of her money after the three properties she bought in upstate New York failed to rise in value. She bought one property for $US34,900 and sold it four years later for $US12,000. Another she bought at the same time for $US51,900 she sold years later for $US25,000. The third remains unsold.
I believe if you go over to America, hire a car, drive around and research the areas properly, you might be able to find yourself a good buy,” Jenman says. “But I believe with all of my heart if you go through an Australian company that is flogging American real estate here in <country-region><place>Australia</place></country-region>, you will almost certainly lose a great deal of money.”
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mlaurence-vhAHaLZT8y

America: buyer beware

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A moderate rise in property prices, increased investor interest and a possible increase in rents close to transport hubs are the medium-term expectations for Seaford, South Australia, where a new railway extension that will link the suburb directly to the city is under construction.
The $291.2 million Seaford railway extension, announced in the May 2009 Federal Budget, is due to be completed in 2013. It will add 5.7 kilometres of track joining the current end-of-line stop, Noarlunga, to the Seaford District Centre with a stop in between at Seaford Meadows. Park-and-ride facilities will be available at both new stations, and 372 daily buses will service the Seaford District Centre.
In addition to the extension, a project is currently underway to electrify (from diesel) and re-sleeper the existing Adelaide-to-Noarlunga line, which, according to a spokesperson for the project, will result in quieter, more environmentally friendly trains.
Construction of the extension is due to be completed in August 2012. The project will then be handed over to the government for testing. Passenger services are due to begin running in 2013.
About 36kms from the Adelaide CBD, Seaford is a middle-class neighbourhood where many commute to the city or surrounding economic hubs for work. The new train line will mean an express journey from Seaford to Adelaide will take 35 minutes, 50 minutes on a normal service.
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/seafordlarge.jpg"><img src="/images/stories/seafordsmall.jpg"></a>
Photograph courtesy of the Department fro Transport, Energy and Infrastructure.
Values holding steady
To date the announcement and commencement of the project have not had a great impact on Seaford property values – depending on which statistics you believe.
Statistics gathered by WBP Property Group reveal that house prices in the postal code have followed the trend of the greater metro area, which is flat at present.
Median house prices for Seaford (postcode 5169)
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="225">
Mid 2009
</td>
<td valign="top" width="208">
$325,000
</td>
</tr>
<tr>
<td valign="top" width="225">
Mid 2010
</td>
<td valign="top" width="208">
$345,000
</td>
</tr>
<tr>
<td valign="top" width="225">
Mid 2011
</td>
<td valign="top" width="208">
$335,000
</td>
</tr>
</tbody></table>
Source: WBP Property Group
Bart Quinn, state manager for SA of WBP, says the outer Adelaide suburbs are particularly flat, “with agents reporting price falls of up to 10% in some suburbs”.
“This project will add to the overall amenity of the Seaford area, however, I expect prices will remain flat over the short to medium term,” he tells Property Observer.
A similar story is told by figures obtained from the Real Estate institute of South Australia:
Median house prices for Seaford
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="205">
 
</td>
<td valign="top" width="205">
No of sales
</td>
<td valign="top" width="205">
Median price
</td>
</tr>
<tr>
<td valign="top" width="205">
First Quarter, 2010
</td>
<td valign="top" width="205">
20
</td>
<td valign="top" width="205">
$321,000
</td>
</tr>
<tr>
<td valign="top" width="205">
First Quarter, 2011
</td>
<td valign="top" width="205">
17
</td>
<td valign="top" width="205">
$335,000
</td>
</tr>
</tbody></table>
Source: REISA
REISA reported 0.49% growth in Adelaide house prices in the first quarter of 2011, taking the median house price to $410,000. Over the 12 months to March 2011 house prices increased by 1.23%. Statewide, house prices increased by a modest 0.14% during the first three months of the year and 2.99% during the 12 months to March 2011, with the median state house price at $379,000.
However, RP Data statistics paint a different picture, suggesting the project is already having an impact on house prices.
Median sale prices for Seaford houses
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="205">
Month
</td>
<td valign="top" width="205">
Median price
</td>
</tr>
<tr>
<td valign="top" width="205">
Jan 2010
</td>
<td valign="top" width="205">
$311,500
</td>
</tr>
<tr>
<td valign="top" width="205">
Dec 2010
</td>
<td valign="top" width="205">
$338,750
</td>
</tr>
<tr>
<td valign="top" width="205">
Jan 2011
</td>
<td valign="top" width="205">
$338,750
</td>
</tr>
<tr>
<td valign="top" width="205">
Feb 2011
</td>
<td valign="top" width="205">
$337,000
</td>
</tr>
<tr>
<td valign="top" width="205">
March 2011
</td>
<td valign="top" width="205">
$350,000
</td>
</tr>
<tr>
<td valign="top" width="205">
April 2011
</td>
<td valign="top" width="205">
$350,000
</td>
</tr>
</tbody></table>
Source: RP Data
According to RP Data, the median price of a house in Seaford hovered around the $300,000 mark up until the end of 2009.
During 2010, when construction of the railway line extension began, house prices started to rise steadily, and by the end of the year the median price was more than 10% higher, at $339,000. Prices have jumped again in the first few months of 2011, with RP Data putting the median price at the end of April at $350,000. Average weekly rent is $180. According to RP Data, Adelaide house prices grew by 2% in the 12 months to January 2011.
A search across realestate.com.au shows just 33 houses for sale in Seaford, ranging from $299,000 for a two-bedroom, one-bathroom house to $399,000 for a three-bedroom, two-bathroom property, marketed by the agent as an investment property.
Investor opportunity
Quinn says recent reports from local agents indicate an increase in investor enquiry about the Seaford area.
“Experience shows that interstate investors often demonstrate greater interest in new infrastructure project than local residents. This is probably because local residents are unlikely to sell an existing home simply to take advantage of new infrastructure development in a nearby area,” he says.
As a result, he does not expect a dramatic increase in buyer activity, and says the extension is not likely to greatly impact values in Seaford and Seaford Meadows.
However, investors looking to leverage off the railway extension may find good opportunities if they pick up properties for a good price close to the two proposed stations.
Quinn says rental costs for these properties might increase over the long term. Greg Nybo, president of the Real Estate Institute of South Australia, says Seaford will benefit from the transport infrastructure and applauds the railway project currently underway.
“Anything from transport point of view is a good thing. The southern suburbs are ever expanding. As the population goes up, there is a greater need for improved transport services,” he says.
He says people in the community are excitedly awaiting the arrival of the train: “With fuel costs rising, they are looking for an economical manner to get to work.”
As for house prices, he says all major infrastructure projects help, as they make an area more attractive, but as with all property, it’s about supply and demand.
Agents optimistic
Agents operating in the area expect the project to make Seaford more attractive and bring in buyers 
Kerri Cook, property management and selling principle at Ray White Seaford, says there is strong interest in land around Seaford Meadows and also interest in nearby Aldinger Beach.
“We are quite excited about the development. Prospective buyers are being more proactive with properties coming up in the area,” she says.
“I expect more people will look to move south. Previously it has been considered too far. A journey into the city on public transport would take about an hour. The train will cut this down to about 35 minutes.”
Sentiments from Andrew Koukourou, principal at Century21 South Coast, reflect the available data: “The market is fairly flat, but there is lot of talk. I come across people all time who are talking about it in a positive light.
Koukourou expects the new line will have a positive impact on prices: “Once it is launched, the train line will be electric, efficient and quite an economical method of transport.”
But Quinn warns investors to tread cautiously: “Selecting real estate on the basis of proposed infrastructure development is speculative and can be risky.”
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Seaford market flat, but price increases likely down the track

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{yoogallery src=[images/stories/June7foresthill]}
11 Forrest Hill Grove, Lysterfield South, Victoria
Directly adjoining Lysterfield Lake state park, this six-bedroom,two-study property has style on a grand scale. It has all of life's luxuries, including underfloor heating in the lounge room, a tennis court, a home theatre, a spa ensuite in the main bedroom, an indoor heated swimming pool and a gymnasium. The property is listed by <a href="https://www.ljhooker.com.au/E31GJW" title="LJ Hooker Rowville" target="_blank">LJ Hooker Rowville </a> agents Stan Makantasis and Craig Kelly with an asking price of $2.35 million plus. The property comprises 1,667 square metres of land and includes guest accommodation.
 
{module 238}
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Grandeur and style

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{yoogallery src=[images/stories/ramsgate]}
Michael Darling, the chairman of Caledonia Investments and scion of the establishment pastoral and mining family, and his wife, Manuela Darling-Gansser, have spent $14 million to buy a prized oceanfront North Bondi Beach residential building site.
The somewhat neglected five-storey apartment block – most likely to become a luxury condominium compound for the Bellevue Hill family – was recently bought from the retired IT entrepreneur Neill Miller.
Set on the rock shelf known as Mermaid Rocks on the ocean shore at North Bondi, the building now comprises 10 apartments that Miller consolidated at a cost of $14 million between 2006 and 2008.
The Art Deco 1930s Ramsgate Avenue block was marketed as the only privately owned apartment building with direct ocean access on the Ben Buckler peninsula through <a href="https://www.105ramsgate.com.au/" target="_blank" title="105 Ramsgrange">Martin Maskin at Raine &amp; Horne Double Bay in conjunction with Mary Anne Cronin at Raine &amp; Horne Bondi Beach</a>.
It had initial $15 million-plus hopes but sold pre-auction at a then undisclosed price.
Aboriginal rock carvings are etched into sandstone near the site, which has prompted some residents to regard the whole area as a place of cultural significance, but interested parties were advised an Aboriginal archaeological and cultural heritage assessment report had concluded that any development was unlikely to have an adverse impact.
The urbane Oxford- and Harvard-educated businessman is regarded as one of Australia’s savviest investors, having sold the family’s 41% equity in the finance house Clayton Robard for about $200 million shortly before the 1987 stock market crash.
Darling, a descendent of the pioneer John Darling and the son of long-time BHP director L Gordon Darling, was a McKinsey &amp; Company consultant in the mid-1970s. He once climbed Mount Everest as far as Camp 3.
From 1979 to 1987 he was managing director of Clayton Robard Limited, the funds management and life insurance group. In his seven years as managing director he oversaw a lift in its asset values from $3 million to $350 million.
He was also an outside director of the Australian Stock Exchange from 1986 to 1987.
He has been a trustee of the National Gallery of Victoria, a director of the Museum of Contemporary Art and chairman of Art Exhibitions Australia.
The Bellevue Hill family retains a family retreat on the Tilba Tilba coast in southern NSW. Architect Nick Tobias, of Tobias Partners, and Darling’s son-in-law, is in the box seat to undertake any new development.
Miller briefly envisaged the demolition of the building, excavation of the sandstone bedrock beneath and construction of a part three-storey, part six-storey residential apartment block made up of three units, four car spaces and two swimming pools. The plans were drawn up by Puflett Associates and Brian Myerson Architects.
During its marketing campaign, Martin Maskin said: “The ultimate would be the creation of one single residence, ranking it amongst the world’s unique homes.”
“Or there is the option to build up to five luxury apartments with vast internal and external living and entertaining areas with breathtaking ocean and Bondi Beach views.”
There are two approved plans allowing for the development to be divided into either three apartments with four internal car spaces, lift, plant room and boat house; or five apartments with lift and four external car spaces.
Mary Anne Cronin says: “This opportunity comes along once in a lifetime.
“When is there going to be another actual waterfront block of units available in Bondi? I don’t think anything like this could ever come up again.” Cronin notes.
“This is being pitched internationally as well as nationally, and I think a few interesting people will really see the value in this.
“Just about every image you see of Bondi Beach has this building in it, and Bondi is becoming bigger than the Harbour Bridge for people around the world.”
Miller moved to Sydney in the early 1980s, having started an IT database system in a garden shed in South Africa with his first cousin Derek Miller.
Since November 2010 Miller has been involved in Energy &amp; Carbon Intelligence System, an enterprise software solution that streamlines for businesses the capture, reporting and management of environmental data such as energy, fuel, water and carbon emissions.
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