A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.

The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.

Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" />

The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.

The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.

Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.

<img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" />

The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.

The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.

Joel Robinson

Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.

The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.

Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.

The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.

Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" />

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.

“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.

“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;

Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;

The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.

Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.

<img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" />

A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.

Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;

The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.

Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.

Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.

Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.

The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.

Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172129]

S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp; 
&nbsp;&nbsp; &nbsp; 
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.

“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172174]

A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.

Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;

<a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;

“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;

“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=214819]

Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.

The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;

S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;

[smartcode_project:default project_id=102921 project_image_fid=172175]

Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;

“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."

“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.

[smartcode_project_cta:default project_id=102921]

Owners move in as Esprit completes at Rainbow Bay

Few developers can boast a portfolio across South East Queensland's luxury markets quite like <a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a>.

The builder-developer, founded in 2004 by Managing Director Brook Monahan, has projects in planning, on the market, and under construction, from Burleigh Heads and Broadbeach to Kangaroo Point and South Brisbane.

With a pipeline exceeding $2 billion, Mosaic remains highly selective when it comes to development sites, having spent years refining its strategy around feasibility research and product planning. The group is set to continue growing into 2026 and beyond.

In Brisbane, Mosaic currently has three projects in the market. It is in the final release stage at <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford</a> in Kangaroo Point, which is approaching complete sellout ahead of its late 2027 completion.

[smartcode_project:default project_id=134792 project_image_fid=328123]

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, The Bedford comprises 128 two- and three-bedroom residences. A selection of ultra-luxury Masterpiece Series Skyhomes, positioned across the top levels, offer expansive floor plans and sweeping views of the river and city.

High-end inclusions, such as natural stone benchtops, bespoke cabinetry, and Miele appliances, feature throughout all apartments, alongside the Rooftop Recreation &amp; Retreat Sky Terrace. This includes a resort-style pool with sun deck and loungers, spa, cold plunge pool, sauna, steam room, private dining room with a full kitchen, residents' lounge, multiple barbeque and relaxation zones, an outdoor viewing deck, and landscaped gardens with water features, all oriented to sweeping city and river views.

A gym with indoor and outdoor zones, and a golf simulator, further enhances recreational choice within the building.

[smartcode_project:default project_id=134792 project_image_fid=328119]

A defining feature of the development is its integrated mixed-use component, which will deliver Kangaroo Point's first major supermarket, alongside a café and liquor store, bringing long-awaited convenience to the peninsula.

Monahan says The Bedford represents the culmination of a near-decade-long journey, after first identifying the A-grade Prospect Street site in 2016. While they came close to acquiring it at the time, the site was ultimately purchased by Woolworths' development arm, Fabcot. The opportunity resurfaced in 2024 when the site, vacant for nearly three decades, was brought back to market.

Monahan says Mosaic projects often begin years before any formal plans are drawn. Their new South Brisbane development is no exception, with the site first earmarked in 2018.

"We aren't opportunistic," Monahan says. "Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

[smartcode_project:default project_id=141711 project_image_fid=353495]

A similar story unfolded at <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a> in Kangaroo Point, opposite The Gabba. Like The Bedford, it is also approaching sellout of its 125 two- and three-bedroom apartments. The majority of sales are attributed to returning customers and referrals, with a balanced mix of investors and a strong majority of owner-occupiers.

BDA Architecture was again engaged to design the 22-storey building, which will feature a suite of wellness and lifestyle amenities, including a golf simulator and cinema, a commercial-grade gym, and a rooftop recreation level with a pool, steam room, sauna, cold plunge, teppanyaki bar, private dining spaces, and landscaped terraces.

Construction is on track for completion in mid-2027.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Mosaic's latest offering is its most ambitious yet, boasting a rare, north-facing riverfront position on Montague Road in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale by Mosaic</a> is a 39-storey tower comprising just over 200 residences and Masterpiece Series Sky Homes. Designed in partnership with Bureau Proberts, it will feature nearly 3,000 sqm of genuine, internationally benchmarked six-star, hotel-style amenities, including a wellness precinct, pool, gym, massage and treatment rooms, cinema, golf simulator, and extensive outdoor dining areas across a two-level rooftop deck.

Early works are underway, with full construction expected to commence in the second half of 2026, and an anticipated late 2029 completion.

[smartcode_project:default project_id=151614 project_image_fid=362759]

Since 2012 alone, Mosaic has completed more than $2 billion in projects and is set to deliver another $2 billion worth of developments, comprising hundreds of luxury apartments, each defined by Mosaic's signature standards of quality, detail, and delivery.

"We never arrive, there is no finish line," says Monahan. "Our ambition is to keep evolving what luxury means, creating design- and lifestyle-led residences in incredible locations, places people genuinely aspire to and want to live, homes that are loved deeply and endure long beyond their moment."

Mosaic's Midas Touch

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> (Urban) has broken ground at Keira Place, its new major mixed-use residential precinct in the heart of Wollongong CBD.

Held at 120-122 Smith Street, the groundbreaking marked the commencement of construction on Stage 1 of <a href="https://www.apartments.com.au/new-apartments/keira-place-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, with the opening of the new display suite. 
&nbsp; 
Keira Place is a State Significant Development that will deliver new housing supply, affordable homes and inclusive living options within walking distance of Wollongong’s CBD, coastline, transport, hospital and education precincts.

[smartcode_project:default project_id=144442 project_image_fid=369868] 
&nbsp; 
Stage 1 is now under construction and will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, along with activated ground-floor retail and commercial space. 
&nbsp; 
Urban Co-CEO Patrick Elias said the groundbreaking represented a significant milestone for Wollongong and reflected Urban’s long-term commitment to regional cities.

“Today’s groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong’s city centre,” Elias said. 
&nbsp; 
“Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection.”

[smartcode_project:default project_id=144442 project_image_fid=369869] 
&nbsp; 
Hon. Paul Scully MP, Minister for Planning and Public Spaces, Member for Wollongong said Keira Place is exactly the kind of development Wollongong needs – delivering new homes close to transport, employment and services, while supporting the continued growth and renewal of the CBD.

"This project reflects the Minns Labor Government's commitment to increasing housing supply in well-located areas." 
&nbsp; 
Wollongong Lord Mayor Cr Tania Brown said Keira Place would deliver lasting community benefits for the city. 
&nbsp; 
"Keira Place is a welcome addition to Wollongong's CBD delivering new housing, affordable homes and activated street-level spaces that will benefit our community for years to come," Brown said. 
&nbsp; 
"Urban Property Group's investment reflects the confidence that quality developers have in Wollongong's future, and I look forward to seeing this precinct come to life."

[smartcode_project:default project_id=144442 project_image_fid=369867] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a>, with interiors by <a href="https://www.apartments.com.au/interior-designers/dko">DKO,</a> Keira Place prioritises liveability and long-term performance, with landscaped shared spaces, generous apartment layouts and a pedestrian-friendly streetscape along Smith Street. 
&nbsp; 
Residents will have access to landscaped podium areas, communal rooftop amenities with views to Mount Keira and the Wollongong skyline, and convenient ground-level retail.

The development will have 10-year Latent Defects Insurance by Resilience Insurance.

[smartcode_project_cta:default project_id=144442]

Groundbreaking marks start of construction at Keira Place in Wollongong CBD

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?

Demand has continued for the up-and-coming Sunshine Coast suburb of Birtinya, with Cube Developments announcing a sell out success of the first tower in its Seasons by Cube project, totalling over $40 million in sales.

Comprising 54 two and three-bedroom apartments, the first eight-storey tower was launched to market six months ago and has seen a diverse buyer mix, with first home purchasers, investors, downsizers and interstate buyers all moving quickly on the opportunity to purchase off the plan.

Over 30 per cent of the second tower has already been secured since its launch prior to Christmas.

[smartcode_project:default project_id=106957 project_image_fid=184864]

Director Scott Juniper noted the team have also seen a spike in local downsizers to the project.

&ldquo;Empty nesters from Buddina and the neighbouring area are capitalising on a market where they can sell their existing residence as a million dollar knockdown and opt for an oceanside apartment.

&ldquo;Three-bedroom units have been particularly popular in the most recent release due to being priced at under $750,000, making them appealing to this type of buyer.&rdquo;

[smartcode_project:default project_id=106957 project_image_fid=184867]

&ldquo;We&rsquo;ve also sold two of the three penthouses, one to a local buyer from the neighbouring area for $1.5 million, and given the expansiveness and inclusions of these modern residences, we expect the final penthouse to move quickly too.&rdquo;

Seasons&rsquo; Tower Two offers fewer apartments per floor to Tower One, including ground floor residences, while Tower One houses the elaborate suite of amenities including a fully equipped gym, yoga studio, spa and sauna on the ground level.

Upon completion, the Cottee Parker-designed project will make up around 148 apartments set over three eight-storey towers.

[smartcode_project_cta: project_id=106957]

Over 30 per cent of the second tower has already been secured since its launch prior to Christmas

Cube Developments sell out first tower in Sunshine Coast apartment development, Seasons Birtinya

One of the largest residential developments ever undertaken on the Gold Coast, SPG Land’s $800 million Paradiso Place, has opened the city’s largest and most spectacular sales gallery.

The sales gallery, which is fully landscaped and includes a dedicated car park, occupies more than 2,000sqm of the site fronting Ferny Avenue.

Last month, Hutchison Builders completed the $4 million sales gallery which will span 750sqm, making it the largest sales gallery of any new development in the southern hemisphere.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/JYdY1tGwQ58?start=2" title="YouTube video player" width="560"></iframe>

A key highlight of the sales gallery are&nbsp;two fully constructed apartments, three-bedroom and two-bedroom, that give buyers a realistic feel of the premium residential offering at Paradiso Place.

Simon Wong, chief executive of SPG Land said the development group spared no expense with the sales gallery to bring to life their vision.

<blockquote>
“Every detail has been considered for our sales gallery to replicate what the customer will be buying and experiencing when completed. For customers located interstate, they will be able to experience a virtual tour within the completed apartments”. 
&nbsp;

Simon Wong, SPG Land chief executive
</blockquote>

The gallery features a 2.5-metre-high scale model, a fly-through of the new ground-level retail and dining plaza and a main foyer, designed to mimic entry foyer located in Tower 1 of the proposed three-tower development.

[smartcode_project:default project_id=106566 project_image_fid=185859]

Once completed, Paradiso Place is set to become an urban oasis on a 1.15ha site, occupying an entire city block bounded by Ferny Avenue, Surfers Paradise Boulevard, Pandanus Avenue and Ocean Avenue in Surfers Paradise.

Paradiso Place will comprise three residential towers of 37, 39 and 42-storeys, bringing to the market a total of 792 apartments accompanied by 1,790sqm of internal space and 1,015sqm of external space of retail.

[smartcode_project:default project_id=106566 project_image_fid=185857]

The project will also feature 896 car and 18 motorbike underground car parks, 401 bike parks including 50 bike parks on the ground and 351 underground and 31 on-grade parking spaces.

The premium residential towers will each have their own identity with double-height lobby space while offering residents unparalleled bespoke amenities.

[smartcode_project:default project_id=106566 project_image_fid=185862]

The focal point for residents will be a unique circular infinity lagoon pool on the podium level which will host the signature communal space for the development and will be connected via link bridges to the other towers.

In a first for the Gold Coast, the project will also deliver a world-leading attraction – a suspended glass-bottom pool that will offer residents freestyle swimming with a clear view to street level 26 storeys below.

Apartment buyers will be able to lodge an expression of interest for apartments ahead of the official launch of the development.

[smartcode_project_cta: project_id=106566]

Last month, Hutchison Builders completed the $4 million sales gallery which will span 750sqm, making it the largest sales gallery of any new development in the southern hemisphere.

max.kwok_55688

Southern Hemisphere’s largest sales gallery brings $800 million Paradiso Place to life in Surfers Paradise

Mosaic Property Group are continuing to set their stall out for a solid 2022.

The burgeoning South East Queensland apartment developer, who is looking to launch seven new projects across Brisbane,&nbsp;the Gold Coast, and Sunshine Coast this year, are readying a boutique project in the sought-after Kirra Beach locale in Coolangatta.

Their second time developing in Coolangatta after having success with Elan,&nbsp;Mosaic has lodged plans with the Gold Coast City Council for a nine-level building at 7 Douglas Street, just off Musgrave Street and less than 200&nbsp;metres from the popular beach and surf spot.

<a href="/new-apartments/luca-7-douglas-street-coolangatta-qld-4225">To be the first to be notified when the project hits sales, enquire here.</a>

There will be 31 two and three-bedroom apartments across the tower, which architecture firm Gatehouse Architects designed to connect the occupants to the local environment.

&quot;It is an understanding and reflection of the curving natural landscape of the Kirra Beach and Coolangatta Creek,&quot; Gatehouse noted in their design statement submitted to the local council.

<a href="/new-apartments/luca-7-douglas-street-coolangatta-qld-4225"><img alt="" height="984" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-01-28_at_12.36.09_pm.png" width="1450" /></a>

They designed the building to capture the northerly aspect towards the coast line.

&quot;Occupants are able to embrace the inside / outside relation synonymous with a modern Queensland lifestyle.&quot;

Balconies and living spaces have been positioned to capture ocean views while maintaining privacy between dwellings and neighbour properties.

<a href="/new-apartments/luca-7-douglas-street-coolangatta-qld-4225">To be the first to be notified when the project hits sales, enquire here.</a>

Native landscaping has been included throughout the building, invoking a connection to the ground floor.&nbsp;

The resident communal area is located on the first level&nbsp;and includes a resort-style pool with day beds, a seating and dining area next to an outdoor kitchen, and a sauna.

<a href="/new-apartments/luca-7-douglas-street-coolangatta-qld-4225"><img alt="" height="746" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2022-01-28_at_12.36.19_pm.png" width="1544" /></a>

The town planner, DTS, said that high quality architectural form built on the principles of sub-tropical design and carefully selected materials and façade treatments reflective of the Gold Coast vernacular.

Mosaic had a stellar 2021,&nbsp;selling out Dawn at Mermaid Beach, LOrient at Sunshine Beach, The Witton at Indooroopilly and The Kensington at Toowong.

Late last year Mosaic, led by its founder Brook Monahan, lodged plan for a luxury <a href="/news/qld/mosaic-set-for-new-bilinga-beachfront-apartment-development-bianca-by-mosaic">seven level&nbsp;beachfront apartment development in Bilinga</a>, with unrivalled views and direct beach access.

With only two apartments per floor, private entry lobbies and direct physical access to the ocean front, Mosaic are making the most of the unencumbered site edges.

There will be 31 two and three-bedroom apartments across the tower, which architecture firm Gatehouse Architects designed to connect the occupants to the local environment

Exclusive: Mosaic Property Group set for new Coolangatta apartment development

Forming part of Crown Group&rsquo;s masterplanned precinct, Waterfall&nbsp;by Crown Group delivers four towers ranging from seven to 20-storeys in Sydney&rsquo;s Waterloo.

Inspired by the lush, tropical landscapes of Indonesia, Waterfall by Crown Group is a ground-breaking development that features 331 studio, one, two and three-bedroom apartments, plus two-storey penthouses

Designed by SJB Architects, the development delivers the best in urban resort-style living with a tranquil internal lagoon, lush rooftop escape, tropical bamboo walk, and a&nbsp;22 metre&nbsp;high cascading waterfall.

The development also includes a rooftop infinity pool, a cantilevered gym, a function room, a music room, retail outlets and a rooftop lounge with panoramic views of Sydney CBD.

Despite these unrivalled amenities, the surrounding neighbourhood itself provides residents with the modern conveniences of urban living.

Below we take a look at six reasons buyers are loving the Waterloo residences.

1. Connected community

[smartcode_project:default project_id=5763 project_image_fid=182339]

Waterloo connects you with the vibrant local culture as well as Sydney&rsquo;s enormous celebrations.

The gentrified industrial area boasts a collection of converted warehouses and modern apartments, with lively old-school pubs, hip bars and award-winning eateries.

Boasting an 88 per cent walkability score, life in Waterloo means a car is optional, with employment hubs, shops, restaurants and transport all a short walk away.

Set amongst a multicultural neighbourhood, residents at Waterfall by Crown Group can come to know their neighbours through shared experiences and public spaces such as the upcoming Lachlan Precinct and Dyuralya Square.

2. Green spaces

[smartcode_project:default project_id=5763 project_image_fid=182360]

Waterloo combines the ideal inner-city lifestyle with Sydney&rsquo;s largest urban green space.

Centennial Parklands provides a great setting for fitness and fresh air, while five quality golf courses in the area, both public and private, make for the ideal weekend plans.

A range of sports centres and swimming pools are also nearby, as well as Moore Park and Coogee Beach further east.

3. Never far from anything

[smartcode_project:default project_id=5763 project_image_fid=182348]

Residents of Waterfall by Crown Group are never more than half an hour from any important destination while in Waterloo.

Green Square Station provides strong connections to all major attractions sitting&nbsp;just five kilometres from the CBD, three kilometres from UNSW and five kilometres from Sydney International Airport.

The area is well connected, with a number of bus services stopping along O&rsquo;Dea Avenue including the 302, 303, 348 and M20, providing connections to central Sydney, southern Sydney and Bondi Junction.

Waterloo&nbsp;will soon be even more connected, with the Sydney Metro, set for delivery in 2024, anticipated to connect the suburb to Central Station in just two minutes.

4. Value

[smartcode_project:default project_id=5763 project_image_fid=182353]

Residents can enjoy first-class amenities, easy travel to work and recreation, and peace of mind that they have chosen to live in an area that&rsquo;s set to grow in demand.

&ldquo;Waterloo has become a highly desirable suburb for owner-occupiers, investors and tenants alike&rdquo;, Crown Group said in their development application for Waterfall by Crown Group.

Affordable and accessible, Waterfall&nbsp;by Crown Group provides the opportunity to live in contemporary comfort at true value for money, with exciting transformations of the inner-city suburb underway.

5. Quality design

[smartcode_project:default project_id=5763 project_image_fid=182352]

Delivered by Crown Group and designed by SJB Architects, Waterfall&nbsp;by Crown Group boasts a luxurious, architect-envisioned property by a reputable Sydney-headquartered company.

Interiors of the residences follow an open-plan design, wrapped in floor-to-ceiling windows, allowing natural light to filter through.

Kitchens feature&nbsp;luxury Miele appliances, along with reconstituted stone bench tops, with apartments finished with high-quality,&nbsp;fine natural materials, creating clean, zen-like spaces.

The dwellings spill out onto generous outdoor entertaining spaces, delivering not only style but function also.&nbsp;

6. Family living

[smartcode_project:default project_id=5763 project_image_fid=182354]

&ldquo;A short commute from Waterloo means more time that you can spend with loved ones, leading to an ideal work-life balance&rdquo;, the project marketing points out.

Waterloo delivers a number of family-friendly amenities, including nearby parklands and educational institutions.

The abundance of leading education options in the area makes it easy for any parent, with nearby schools including Gardeners Road Public School, Sydney Girls High School and Sydney Boys High School.

University students have three world-class universities close by, the University of New South Wales, University of Sydney and University of Technology Sydney.

[smartcode_project_cta: project_id=5763]

Inspired by the lush, tropical landscapes of Indonesia, Waterfall by Crown Group delivers 331 residences in a prime Sydney location.

Why buy at Waterfall by Crown, Crown Group's Waterloo apartments

Mortgage rates will rise gradually over the next couple of years, according to Pete Wargent, co-founder of BuyersBuyers.

But the impact on the housing market won’t be too dramatic, Wargent said.
 
Doron Peleg, co-founder and CEO of BuyersBuyers, said financial markets are pricing interest rate hikes aggressively, "but it’s unlikely we’ll see a significant move in the cash rate any time soon."
 
“Even if the cash rate does increase in time, we think that any increases will be delivered gradually, and in a controlled manner,” Pelog said. 

“The Reserve Bank may not be in too much a rush to hike rates, though, given that annual wages growth is only 2.2 per cent, and expectations for pay rises are still anchored at low levels.

“Fiscal support will also be wound back over the next year or two, and it’s not yet clear how the economy will track when this very large fiscal support is withdrawn. 

“In any case, much of the inflation relates to supply chain issues in 2021, which will be mostly resolved later in 2022, particularly for food and new dwelling costs, so hiking interest rates significantly while real wages are negative might not be desirable” Mr Peleg said.

Their commentary comes as economists including from the Commonwealth Bank, Westpac and AMP Capital expect an August rate rise.

AMP Capital's chief economist Shane Oliver says any earlier rate increase would bring forward the peak in property prices. HSBC chief economist for Australia and New Zealand, Paul Bloxham still expects the first rate rise to be in 2023, while forecasting single-digit house price growth in 2022, but no declines.

Wargent of BuyersBuyers said compared to some of the inflation readings coming out of Europe or the U.S. – and even New Zealand - "inflation is not exactly running out of control in Australia.
 
“In fact, inflation has largely been driven by food and new dwelling costs, where pressure will likely ease in 2022, and fuel costs, which are admittedly less predictable”.
 
He added commentators have sometimes overstated the impact of rising mortgage rates on the Australian housing market for four main reasons.

“Firstly, because inflation is exogenous to housing market modelling, estimates of the impact on housing prices should be based upon changes in real interest rates. 

"If inflation expectations are to move materially higher, then any related impact on housing prices would correspondingly be lessened. 

"Given Reserve Bank modelling was referenced in 2019 to isolate the impact of lower real rates, it doesn’t make sense to translate estimates across to forecasts today, given that the context is not the same”.
 
“Secondly, the response of prices in the housing market model is non-linear, so logically interest rate cuts should have had a far greater positive impact on sentiment as interest rates approached zero.”
 
“Thirdly, any impact on housing prices should be relative to your baseline forecasts. Thus, if forecasts were for housing prices to increase by, say, a few per cent per annum, then only relative to these forecasts would the impact on prices be seen as a result of rising mortgage rates.”
 
“And fourthly, any dramatic predictions of a crunch would need to assume no other change in macro variables, which is unrealistic. In reality, in our opinion, we should be expecting employment growth and population growth to come roaring back over the next couple of years, comfortably offsetting even a potential 1 per cent increase in interest rates”.
 
“And, as noted, we also expect hikes to the cash rate to be delivered in a considered and gradual manner, even if funding costs are rising.”
 
“We have consistently discussed many of these variables with our clients such as employment growth, the immigration reboot, fierce competition between lenders, low out-of-pocket expenses for property investors, and the ability of households to absorb higher repayments” Wargent said.
 
“We think mortgage rates will rise in 2022 and 2023, but the impact of this on the housing market has often been overstated.”
 


The Reserve Bank may not be in too much a rush to hike rates, Doron Peleg, co-founder and CEO of BuyersBuyers, said

jchancellor-FAypfDUnLy

Rising mortgage rates impact on the housing market overstated: BuyersBuyers  

National gross rental yields fell to 3.22% in December, down from September's 3.29% and the 3.71% a year ago.

The 2021 December quarter was a new record low as growth in dwelling values continues to outpace rental growth, according to CoreLogic. 

Over the fourth quarter, national dwelling values recorded a 3.9% rise, while rental values increased by 1.9%. 

Across the capital cities gross rental yields fell below 3% for the first time in October (2.99%), falling further to 2.96% in December. 

It was 3.42% this time last year. 

Across regional markets the yield sat at 4.15% in December 2021, down from 4.35% the previous quarter and 4.83% a year earlier.

"COVID restrictions such as international border closures, and disruption to employment across sectors such as tourism and hospitality, which have a relatively high proportion of renters, have played a role in compressed yields," CoreLogic Tim Lawless said. 

Sydney and Melbourne have the lowest yields of any capital city at 2.42% and 2.74% respectively while Darwin has the highest at 6.05%, followed by Perth (4.37%).

Brisbane recorded the largest quarterly decline falling to 3.66% in December, in part due to its 8.5% rise in values over the same period.

Brisbane was the strongest performing rental market amongst the capitals over the quarter, rising 2.3%, followed by Canberra and Hobart, both rising 2.1%. 

Despite recording the strongest annual rental growth (15.2%), the Darwin rental market was the worst performing over the quarter, with rents rising 0.6% over the three months to December.

Canberra remains the most expensive capital city rental market, with typical dwellings renting for $651 per week, followed by Sydney ($604p/w), Darwin ($561p/w), Hobart ($521p/w) and Brisbane ($507p/w). 

Adelaide remains Australia’s most affordable capital with a median dwelling rent of $447 per week, followed by Melbourne at $456 per week.

Melbourne’s rental growth trends shifted in December, as units recorded the strongest rental growth in the country, up 1.6%.

Lawless says Melbourne’s rents remain 5.5% below the record highs of July 2019, however any recent momentum in unit rental growth could represent a recovery trend, underpinned by affordability constraints.

“Brisbane’s rental market for houses has shown strength throughout the pandemic as demand outweighed supply, while Melbourne’s unit market has been weak through most of the pandemic to date due to low demand against relatively high vacancy rates,” Mr Lawless says.

“Melbourne’s unit market is now benefitting from higher demand as more domestic renters seek out affordable housing options in the unit sector. Demand for Melbourne unit rentals is likely to increase more sharply as foreign students and international visitors return.”




COVID restrictions such as international border closures have played a role in compressed yields

Rental yields hit record low as Melbourne apartment rentals see recovery: CoreLogic

The retail and office components of Sekisui House&rsquo;s $1.1billion masterplanned urban renewal development, West Village, in Brisbane has been sold.

The Singaporean sovereign wealth fund GIC has partnered with fund manager Centuria Capital in spending $202m for five buildings within the mixed-use precinct, 1km south of the Brisbane CBD.

It includes existing properties as well as buildings to be constructed on the former Peter&rsquo;s Ice Cream site.&nbsp;

[smartcode_project:default project_id=106960 project_image_fid=185877]

It includes a retail mall anchored by a Woolworths store, and Brisbane&rsquo;s first Harris Farm Markets.

Centuria head of retail Bruce McCully said the West End area was experiencing &ldquo;a renaissance&rdquo; that would further benefit from improved connectivity once the proposed new green bridges were completed, linking the area with Toowong to the west and St Lucia to the south.

West Village was a flagship project for the Japanese company which on completion will provide 1250 residences across eight &shy;residential buildings, 1900 carparks and 6500 sqm of public open space.

[smartcode_project:default project_id=106960 project_image_fid=185878]

Half the site will be open parkland and green laneways, which Sekisui House Australia managing director Hide Seguchi said accords with its &quot;satoyama design principles, which places enormous importance on generous green spaces around each development.&rdquo;&nbsp;

The first stage, Park &amp; Lexington apartment buildings were launched in 2017, with Arcadia the next residential release.

Sales are proceeding at Altura, a 22-storey apartment tower where more than 70 of the initial 147 apartments on offer sold on the first day on the market last year.

[smartcode_project:default project_id=106960 project_image_fid=170167]

It&#39;s been marketed as having a 99/100 walk score.

[smartcode_project_cta: project_id=106960]

West Village will provide 1250 residences across eight ­residential buildings

Singaporean sovereign wealth fund invests in Sekisui House’s West Village

Regional rents continued to outpace capital city rents over the fourth quarter of 2021 with regional dwellings rising 2.5% against the 1.6% rise in capital city rents, taking the annual regional rental growth rate to 12.1%.&nbsp;

Over a 10-year period regional house rents have increased 33.2% compared to 24.9% growth across the combined capitals.&nbsp;

The regional unit market has seen rents increase 41.4% in the past decade compared to capital city figures of 14.4%.&nbsp;

[smartcode_project:default project_id=106957 project_image_fid=184863]

Despite worsening affordability, houses continued to outperform unit rents over the December quarter, according to CoreLogic&rsquo;s quarterly Rental Review.

The national rental index increased 1.9% during the December quarter, a repeat of the September quarter.

CoreLogic&rsquo;s research director Tim Lawless said rents were under extraordinary pressure from many factors.

Lawless said the stronger rental conditions across the regional markets is a story involving both demand as well as supply, following a surge in regional population growth through the pandemic, especially across regional Victoria and regional NSW.

[smartcode_project:default project_id=5559 project_image_fid=88243]

&ldquo;While demand has risen we generally haven&rsquo;t seen much of a supply response. Australia&rsquo;s rental market is mostly reliant on private sector investors to provide rental housing,&rdquo; he says.

&ldquo;Investors as a proportion of total mortgage demand moved through record lows in early 2021, highlighting relatively low levels of investment activity across the country and also implying relatively low levels of new rental stock coming onto the market.&nbsp;

&ldquo;Arguably the regions have less elasticity in rental markets, meaning, when demand rises, supply is less responsive than capital cities where investors are generally more active.&rdquo;

Brisbane was the strongest performing rental market amongst the capitals over the quarter, rising 2.3%, followed by Canberra and Hobart, both rising 2.1%.&nbsp;

[smartcode_project:default project_id=102451 project_image_fid=186075]

Despite recording the strongest annual rental growth (15.2%), the Darwin rental market was the worst performing over the quarter, with rents rising 0.6% over the three months to December.

Canberra remains the most expensive capital city rental market, with typical dwellings renting for $651 per week, followed by Sydney ($604p/w), Darwin ($561p/w), Hobart ($521p/w) and Brisbane ($507p/w).&nbsp;

Adelaide remains Australia&rsquo;s most affordable capital with a median dwelling rent of $447 per week, followed by Melbourne at $456 per week.

Each capital city market posted a rise in rents over the December quarter for both houses and units.&nbsp;

Brisbane recorded the strongest quarterly increase in house rents of 2.7%, taking annual growth rates to 10.6%.&nbsp;

[smartcode_project:default project_id=102309 project_image_fid=163974]

Darwin house rents increased 0.6% during the quarter, however its growth in rents during the first half of 2021 resulted in the highest annual house growth figures of any capital at 15.0%.

&quot;As arguably the most COVID-impacted unit market in Australia, Melbourne&rsquo;s rental growth trends shifted in December, as units recorded the strongest rental growth in the country, up 1.6%,&quot; Lawless said.

Melbourne&rsquo;s rents remain 5.5% below the record highs of July 2019, however any recent momentum in unit rental growth could represent a recovery trend, underpinned by affordability constraints.

&ldquo;Brisbane&rsquo;s rental market for houses has shown strength throughout the pandemic as demand outweighed supply, while Melbourne&rsquo;s unit market has been weak through most of the pandemic to date due to low demand against relatively high vacancy rates,&rdquo; Mr Lawless says.

&ldquo;Melbourne&rsquo;s unit market is now benefitting from higher demand as more domestic renters seek out affordable housing options in the unit sector.&nbsp;

&quot;Demand for Melbourne unit rentals is likely to increase more sharply as foreign students and international visitors return.&rdquo;

Across the capital city markets, each city posted a rise in rents over the December quarter for both houses and units

Apartment rentals soar in regions: CoreLogic

Work is expected to resume later this year on the Nightcliff apartment complex Seabreeze in Darwin.

The project stopped construction in 2016 given the ailing Northern Territory economy and a downturn in the apartment market.

Sunbuild has reportedly lodged a reapplication permit for the site on the corner of Progress and Dick Ward drives.

Sunbuild owner Neil Sunners has begun the process of completing the five-storey, 92-apartment development.

About a third of the project had been completed, the NT News reported.

Sunners said it had taken until now for confidence in the economy to return.

“I believe the time is right in Darwin to get going again, as the economy is stronger than a few years ago and confidence is continuing to grow,” Sunners told the NT News.

He expects it will take about eight months to complete with works likely to begin around August.

The project was first mooted in 2009

Darwin, which is a small town and relies on big oil and mining projects, has seen a weak apartment market.

According to the latest data from real estate firm Raine & Horne, the number of properties hitting the market for sale in Darwin is about 75% higher than the capital city’s historical January average.

Glenn Grantham, at Raine & Horne, noted there had been a surge of vendors releasing their properties for sale in January, "after many recognised last year had been very good for capital growth.” 

In 2021, Darwin’s real estate values increased by almost 15%, its highest annual growth rate in many years.

"Many of the properties for sale are long-term rentals. 

“Given the transient nature of Darwin’s workforce, plenty of tenancy agreements end at this time of year and rather than seeking to find a new tenant, the owners are deciding to put the properties on the market for sale
.
“This decision makes plenty of sense as it is often more straightforward to show a vacant property to buyers than a home with a tenant.”

"Around 85% of buyers in Darwin are currently owner-occupiers seeking to a first home or to upgrade. 

"If there is a lease in place on a property, first home buyers and upgraders will look elsewhere.

“We’ve even seen an increase in off-market sales to tenants.

“These off-market sales not only take the tenant out of the rental market but also take the long-term investment properties out too.”

 “The silver lining is that a smaller pool of rental properties combined with strong tenant demand will push up investment yields in Darwin which is great news for investors.”

Sunbuild stopped construction at the site in 2016 

Seabreeze, Darwin apartment block set for 2022 construction restart

It was the third quarter of 2021 when the award-winning Melbourne developer, Pace Development Group,&nbsp;decided to convert their fourth building in their Pace of Blackburn development from office to residential.

The seven-level building, which became 90 apartments, is now over 70 per cent sold since launching mid last year in the midst of the rolling COVID lockdowns. The sales success&nbsp;follows sell outs of the first three buildings.

Pace&#39;s Sales and Marketing Director&nbsp;Ashley Bramich told Urban that it was a no brainer to pivot the fourth building from office to residential, given the demand the team were fielding&nbsp;from both first home buyers and downsizers.

&quot;We&#39;ve seen first home buyers drive back in to the market as the gap between both the apartment market and the housing market, and the off the plan apartment market and established apartment market, reaches record highs,&quot; Bramich said, adding that it&#39;s the other side of the coin for downsizers.

[smartcode_project:default project_id=7211 project_image_fid=158008]

&quot;Downsizers are in a position where they can sell their homes at a premium in the current market, move to a low maintenance, brand new apartment without diluting their lifestyle, and re-invest the rest of their sale in to super for retirement.

&quot;In a suburb where the median house price is $1 million, both first home buyers and downsizers have found great value in the each type of apartment, with one-bedders starting from&nbsp;$410,000, two-bed apartment from&nbsp;$540,000 and the larger three-bedroom apartments from $780,000.&quot;

The majority of interest has come from those already within close proximity to Blackburn, around three kilometres, however Bramich suggests first home buyers have come from slightly further afield, due to how connected Blackburn is as an area to the rest of Melbourne.

[smartcode_project:default project_id=7211 project_image_fid=39986]

Two of the four of buildings at Pace of Blackburn will start settling in the next few months, with the final two buildings expected to be completed toward the end of 2022.

There are limited opportunities left for buyers in the last building, with just 29 apartments left. The mixed-use nature of the precinct has been a major drawcard for buyers, with street-level retail expecting cafes and convenience stores.&nbsp;Foodworks will be the&nbsp;anchor supermarket, while&nbsp;AK Skin Clinic, Talons Nails, a japanese restaurant from the team at Oushou, and The Studio Beans caf&eacute;, have all been confirmed as tenants, with more announcements to come soon.

Designed in collaboration between&nbsp;Ascui&nbsp;and Co. Architects, interior designer Adele Bates and MDG Landscape Architects, Pace of Blackburn also features extensive resident amenity, including&nbsp;an 18 metre lap pool, a children&#39;s splash pool, a gym, library with a fireplace, and a bookable&nbsp;meeting space and a private dining room with a full chefs kitchen.

There will be a&nbsp;concierge service, with cold room storage for the safe keeping of groceries.

[smartcode_project_cta: project_id=7211]

Ashley Bramich told Urban that it was a no brainer to pivot the fourth building from office to residential, given the demand the team were fielding from both first home buyers and downsizers.



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