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.

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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.

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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.

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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?

Chelsworth is among&nbsp;developer Bensons Property Group&rsquo;s latest developments to be delivered in Melbourne&rsquo;s north-east.

Situated at 1031 Heidelberg Road in Ivanhoe,&nbsp;the project&nbsp;offers 50 apartments in two-bedroom configurations, set between parklands and Ivanhoe&#39;s best transport links to the CBD.

Urban has taken a deeper look at what Chelsworth can offer buyers.

1. Sought-after location

[smartcode_project:default project_id=3309 project_image_fid=169303]

Situated in the&nbsp;premium Melbourne suburb Ivanhoe, Chelsworth overlooks leafy treetops and is surrounded by the convenient education, transport and leisure offerings.

The suburb is renowned for its abundance of private and public school offerings, vibrant caf&eacute; culture and the bustling Upper Heidelberg Road.

&ldquo;Prestigious educational facilities and family friendly amenities have made Ivanhoe one of the most highly sought-after suburbs in Victoria&rdquo;, Bensons advise.

2. Designed by local architects

[smartcode_project:default project_id=3309 project_image_fid=169317]

Chelsworth showcases the best of modern architecture, presenting itself as a piece of public artwork and grand complement to the streetscape.

Designed by Melbourne-based architects, BG Architecture, the premium development features a combination of face brick and timber cladding finishes that provide a soft visual blend with the surroundings.

The firm, established by Donna Brzezinski and Adam Grundmann, is recognised for its design adaptability and expectation for high quality.

Past residential projects include&nbsp;Citiplan&rsquo;s Richmond Place in Richmond&nbsp;and&nbsp;ITUM&rsquo;s Hunter Apartments in Prahran.

&nbsp;3. Sophisticated living spaces

[smartcode_project:default project_id=3309 project_image_fid=169313]

Each residence has been designed with a classic, neutral palette, full-height, glass sliding doors and functional floorplans.

&ldquo;The apartments are practical in use and sophisticated in design, embracing an urban, stylish aesthetic,&rdquo; Bensons say.

From their private terrace, homebuyers can soak up sunlight and enjoy views across leafy treetops to the Melbourne CBD.

The kitchens feature European appliances, stone benchtops and custom-designed joinery with a concealed fridge upgrade option.

4.&nbsp;Enviable amenity &nbsp;

[smartcode_project:default project_id=3309 project_image_fid=169316]

Chelsworth is perfectly positioned to enjoy the essence of Ivanhoe living, with lush parklands and green open spaces within walking distance.

Some of Melbourne&rsquo;s most picturesque parklands are nearby, such as Chelsworth Park, Ivanhoe Park and Wilson Reserve. There&#39;s also the&nbsp;walking or cycling routes;&nbsp;the Main Yarra Trail and Darebin Creek Trail.

Residents are also in close proximity to the Ivanhoe Public Golf Course, as well as the Ivanhoe Makers Market and Hatch Contemporary Arts Space.

5. Enter a strong market

[smartcode_project:default project_id=3309 project_image_fid=79486]

According to SQM Research, Ivanhoe has a median unit price of $771,398, significantly higher than the metropolitan Melbourne median unit price of $563,910.

&ldquo;Ivanhoe is home to many established families, while an abundance of amenities, as well as proximity to public transport and major arterials, makes it a popular choice for all ages&rdquo;, Bensons state.

Two-bedroom units have weekly asking rents of $416, a 2.3 per cent per annum change over the last ten years, according to SQM Research.

The marketing materials claim&nbsp;the properties in the area boast&nbsp;an annual capital growth of six per cent.

[smartcode_project_cta: project_id=3309]

Chelsworth is amongst developer Bensons Property Group’s latest developments to be delivered in Melbourne’s north-east.

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Five things we love about Bensons Property Group’s Chelsworth at Ivanhoe

Bide is the latest Newstead residential offering by Dibcorp Properties. It has been designed in collaboration with architects from Twohill &amp; James, Lat27 and Wiltshire Stevens Architecture.

It presents a new way of inner-city-living, with a range of special inclusions and an urban green space exclusively for residents to relax, unwind and even work from home.

Bide comprises 89 spacious one, two and three-bedroom apartments just three kilometres from the CBD.

Urban has taken a look at Bide in more detail and picked out its top five reasons why buyers should be looking at the development.

[smartcode_project:default project_id=102309 project_image_fid=163979]

1. Delivered by Dibcorp Properties

Dibcorp takes pride in their ability to evenly meet the needs of their clients, urban location and company in every development they lead.

Founded in 1996, they focus on their response to the needs of modern living with each project, including other Newstead works like Dwell and CASA, offering unique features and amenities to ease the demands of daily use.

Started by Franco Di Bartolomeo, Dibcorp previously operated via Mdev Property Group, which dealt primarily with residential and long-term commercial investment property.

With a focus on one on one customer interaction, Dibcorp exemplifies this in their latest development working hand in hand to create resident-customised homes.

[smartcode_project:default project_id=102309 project_image_fid=163982]

2. Designed by Brisbane based TwoHill &amp; James

Twohill &amp; James are Brisbane based Architects and Interior Designers.

In their statement they said, &ldquo;Our work in residential, commercial, hospitality and institutional architecture has spurred an approach that is defined not by typology or scale but by inventive process, materialising as a collection of tangible experiences.&quot;

The practice has worked on such projects as the Byron Bay holiday villas The Norfolk and the dining and retail precinct Keperra Quarter in Keperra.

3. Customisable apartments

Every three-bedroom apartment comes with floor-to-ceiling glazing and private balconies with sweeping 270 degree city views.

[smartcode_project:default project_id=102309 project_image_fid=163977]

Dibcorp has offered residents the opportunity to work hand in hand to tailor the layout, configuration and finishes of their apartment.&nbsp;

Apartments inside feature open-plan living and dining, a balcony space and a study nook in some apartments for working from home.

The 121 sqm residences start from $950,000.

4. Located in sought after Newstead

Nestled in the heart of Newstead, Bide has been designed as an urban getaway just three kilometres north-east of the Brisbane CBD.

[smartcode_project:default project_id=102309 project_image_fid=163972]

It is the latest part of the suburb&#39;s transformation to an up-market residential suburb belying its industrial past. Timber yards, asbestos works, wharves and woolstores once dominated much of the predominantly commercial suburb, now one of the most sought-after apartment spots in Brisbane.

The dynamic suburb offers residents every desired amenity, with lifestyle, commercial and entertainment hubs within walking distance.

Bide is just a short distance away from Route 25 as well as the Teneriffe Ferry wharf and bus stations for those who choose public transit. As such it is right by the Brisbane river.

5. 600 square metres of amenities

There are 600 sqm of amenities spread across two levels, including BBQ facilities, private cabanas, landscaped areas and seating throughout.

[smartcode_project:default project_id=102309 project_image_fid=163975]

Dubbed Bide Garden, there is the option to stroll through lush gardens and observe the greenery on view throughout the development.

With completion estimated for 2023, don&#39;t miss out on Bide, especially as Brisbane is now being recognised for what it is; a seemingly undervalued, and historically overlooked, market.

Bide comprises 89 spacious one, two and three-bedroom apartments just three kilometres from the CBD

jordan_55689

Why Dibcorp’s Bide apartments in Newstead should be on a buyer’s shortlist

On the back of their successful sellout of their $200 million Signature Broadbeach, developer Little Projects Co are set for their second Gold Coast development, and it&#39;s just around the corner.

The new tower, dubbed&nbsp;Aperture,&nbsp;at 20 Mary Avenue in Broadbeach,&nbsp;will be made up of just 29 full floor and double-storey apartments.

[smartcode_project:default project_id=108327 project_image_fid=181283]

Designed for the owner-occupier by the award-winning architect Elenberg Fraser,&nbsp;each apartment will have at least three bedrooms, hand-crafted materials and a minimalistic design.

Prices are set to range from $2 million to $7.75 million.

[smartcode_project:default project_id=108327 project_image_fid=181290]

Leighton Pyke, Director of Little Projects, said the company was ecstatic to be delivering another premier project in a sought-after pocket of Broadbeach.

&ldquo;The south end of Broadbeach is quite possibly the ultimate location to soak up the central coastal atmosphere,&rdquo; Pyke said.

[smartcode_project:default project_id=108327 project_image_fid=181282]

&ldquo;It&rsquo;s part of a very tranquil enclave just a little bit away from the heart of the vibrant retail and dining precinct but within walking distance to all that Broadbeach has to offer, and only metres from the beach.&rdquo;

Pyke said they made a conscious effort to change the course from the high-density projects and instead offer full floor collection of apartments, offering enough space for the downsizer.

[smartcode_project:default project_id=108327 project_image_fid=181285]

&ldquo;We put a lot of thought and energy into this project, alongside our talented team of architects, to come up with a design concept that blends with the superb location of the site.&rdquo;

&ldquo;With this project, we wanted to challenge expectations on how a luxury coastal residential collection should look and feel, so we devised a sub-tropical oasis that incorporates moody tone for an effortlessly luxe feel,&rdquo; Pyke said.

[smartcode_project:default project_id=108327 project_image_fid=181286]

Executive Director of KM Sales and Marketing, Jayde Pezet, said the project was poised to seize hold of a growing marketplace of affluent lifestyle seekers.

&ldquo;With overseas borders shut, we are continuing to witness interstate buyers flock to the Gold Coast in pursuit of a tropical retreat,&rdquo; Pezet said.

&ldquo;With the development set just moments from the beachfront, and the retail and dining options essentially at its doorstep, it will be the ultimate home for buyers seeking coastal convenience.&rdquo;

About the developer

Little Projects Co is an award-winning Melbourne based developer specialising premium residential, commercial, land subdivision, aviation and industrial developments.

Its debut project into the Gold Coast market, Signature Broadbeach, is due for completion in 2022.

[smartcode_project_cta: project_id=108327]

The new tower at 20 Mary Avenue in Broadbeach will be made up of just 29 full floor and double-storey apartments

Little Projects set for boutique Broadbeach apartment tower Aperture, aimed at the luxury owner-occupier

Households and businesses have showed remarkable resilience and an ability to change how they do things, according to the RBA governor Dr Philip Lowe.

"It is a positive story," Dr Lowe's opening Statement to the House of Representatives Standing Committee on Economics advised

But he did note as a rough rule of thumb, household consumption in areas that are locked down is typically around 15 per cent lower than it would be otherwise. 

"The lockdowns have directly affected construction activity in NSW and delayed some investment plans. 

"Some increase in the unemployment rate is also expected over the months ahead, although most of the adjustment in the labour market is likely to be through declines in hours worked and participation, rather than in job losses.

"As we assess the impact of the lockdowns on the economy, it is important not to lose sight of the fact that not all of Australia is affected. 

"Significant parts of the Australian economy are still on the positive trajectory that was in place before the recent outbreaks. 

"This is quite different from the situation in the first half of last year, when the whole of Australia was in lockdown. 

"So, it is a mixed picture," he said adding that the economy is expected to bounce back quickly once the restrictions ease.

"Our central scenario is that the economy will return to strong growth in 2022, with GDP increasing by a little over 4 per cent, to be followed by growth of around 2½ per cent in 2023.

"In this scenario, the unemployment rate resumes its downward path to reach around 4¼ per cent by the end of next year and 4 per cent the following year.

"If we are successful in containing the virus over the months ahead, it is possible there will be stronger upswings in both investment and consumption than envisaged in our central scenario."

As a rough rule of thumb, household consumption in areas that are locked down is typically around 15 per cent lower than it would be otherwise, according to the RBA

jchancellor-FAypfDUnLy

Lockdown household consumption down 15 per cent: RBA

A residential development opportunity on Chevron Island on the Gold Coast has been listed for sale.&nbsp;

The 25-29 Mawarra Street site is an amalgamation of three residential properties.

It is a 1,517sqm site. &nbsp;&nbsp;

CBRE Gold Coast agent Mark Witheriff said the approval was for a north-facing apartment building that will feature coastline, canal and hinterland views.

&ldquo;Reinforcing the desirability of this opportunity is the urban island&rsquo;s connection via the Green Bridge to the 16.9ha HOTA Precinct that includes the architecturally designed HOTA Gallery, outdoor stage and concert lawn, cinema, caf&eacute;, restaurant and a rooftop bar,&rdquo; Mr Witheriff added.

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The Mawarra Street site comes with an existing development approval for 105 one, two- and three-bedroom apartments.

The proposed building includes luxury rooftop amenities with a pool, gymnasium and BBQ area featuring sunken lounges and multiple dining areas, all facing the ocean and the Surfers Paradise skyline. &nbsp; &nbsp; &nbsp;&nbsp;

The expressions of interest campaign closes September 2.

Chevron Island is seeing very strong apartment sales for its off the plan offerings including at Chevron One at 36-44 Stanhill Drive, Surfers Paradise.

The Mawarra Street site has an existing development approval for 105 one, two- and three-bedroom apartments.

Chevron Island's apartment development pipeline to continue

Some 20,000 customers have received hardship assistance during recent lockdowns.

It includes more than 14,500 home loans being deferred, according to data released by the Australian Banking Association.

More than 600 business loans have also been deferred. 

The ANZ recently advised that NSW borrowers accounted for three-quarters of the requests it is getting for help with mortgages.

Comparatively, during the peak of the crisis in 2020, almost 500,000 home loans and more than 225,000 business loans were deferred.

The latest data on consumer confidence, unemployment, spending and savings, and home loan deferrals has prompted both Treasurer Josh Frydenberg and Prime Minister Scott Morrison to express confidence this week that the economy would recover strongly.

Meanwhile Anna Bligh, chief executive officer of the Australian Banking Association, has reminded customers not to tough it out on their own.

“Lockdowns continue to bite across several states, and banks are again stepping up to help,” Ms Bligh said.

“Support is available to all small businesses and home loan customers significantly impacted by current lockdowns or recovering from recent lockdowns, irrespective of geography or industry.”

Hardship approvals and loan deferrals are heavily skewed toward NSW residents, due to the continued lockdown. 

NSW home loan deferrals account for more than two thirds of total deferrals, while almost 80 per cent of deferred business loans are also from NSW.

It sat at 10,452 deferrals in NSW and 2580 in Victoria.

The number of customers accessing hardship grew by 73% this week, compared with a growth of 153% the week before. 

Growth in housing loan deferrals similarly slowed from 344% to 79%, while growth in business loan deferrals grew from 93% to 108%.

Banks have dedicated hardship teams.  

Almost 24,000 people since early July have accessed a range of support measures offered by their bank and 64% of these have opted to defer their loan repayments for up to 3 months.  



New data from the Australian Banking Association shows more than 20,000 customers have received hardship assistance during recent lockdowns,

Lockdowns prompt home loan deferrals

The Ellis Beach Oceanfront Bungalows Holiday Park has been listed for sale with approvals for a 221-key resort development including hotel, motel and apartment accommodation.

The holiday park and the adjoining Ellis Beach Bar and Grill have been listed for sale with expressions of interest closing September 9.

The Captain Cook Highway property overlooking the Coral Sea 28km north of the Cairns CBD, with bungalows, caravan and campsites.

The site is a combination of crown and perpetual leases over two parcels that include the beachside camping area and the bar and restaurant on the other side of the highway.

The Tropical North Queensland site includes a 9.7ha property held under perpetual lease. 

It charges up to $210 a night high season.

CBRE agents Danny Betros and Scott Callow are running the national marketing campaign.

“It presents a prime opportunity to make the most of a recently granted 20-year state government lease over the land, which secures the operation into the future,” the local paper reported. 

“DA approvals for projects of this scale take considerable investment and provide real value for an incoming purchaser, ” Callow added.

According to the development application lodged with council, the existing Ellis Beach Bungalows and Caravan Park are unable to satisfy existing demand for accommodation at Ellis Beach during the peak season. 

Bellbird Park Developments Pty Ltd which has operated Ellis Beach Bungalows and Caravan Park and the Ellis Beach Bar and Grill for many years, initially lodged the application in 2012.

The $100-million project involved eight stages.

They were granted an extension pending the environment approval in 2018.

CoreLogic indicate the site last sold in 2003 at $3.75 million in a liquidation sale. 




The Ellis Beach Oceanfront Bungalows Holiday Park last sold in 2003


Ellis Beach holiday park listed for sale with apartment redevelopment approvals

Australia&rsquo;s biggest bank, CBA, has increased its 2- and 4- year fixed home loan rates by 0.05 per cent for owner-occupiers paying principal and interest. 
&nbsp; 
It is the third time CBA has hiked its 4-year fixed rate this year, but the first time the bank has hiked its 2-year rate for owner-occupiers.

&ldquo;CBA is factoring in a rise in the cost of funding over the next couple of years, particularly now the RBA&rsquo;s term funding facility has closed.&rdquo; 
&nbsp; 
A recent economic insights report from CBA shows around half of its new owner-occupier loans settled in June were fixed, with the two-year rate the most popular. 
&nbsp; 
&ldquo;Despite today&rsquo;s hikes, CBA still has one rate under 2 per cent &ndash; the bank is not going to let go of that easily,&rdquo; said RateCity.com.au research director, Sally Tindall. 
&nbsp; 
&ldquo;CBA&rsquo;s two-year rate was extremely competitive and attracting significant interest. By keeping it just under 2 per cent, the bank is trying to keep momentum going at a more sustainable price,&quot; she said. 
&nbsp; 
Analysis of the RateCity.com.au database shows over the last two months, there have been more hikes than cuts in every fixed rate category with the exception of 1-year rates. 
&nbsp; 
But ME Bank has cut rates across a few home loans from early August, while boosting its refinance cashback offer to $3,000.

The cuts were across its two-year fixed and variable home loan range.

The two-year fixed rate Member Package home loan was cut by 20 basis points to 1.89% p.a. (3.17% p.a. comparison rate*) - a &quot;record low&quot; for the lender.

This particular comparison rate applies to owner occupier borrowers with 80% LVR i.e. a 20% deposit, paying principal &amp; interest.&nbsp;

The same advertised rate applies to other LVRs in the product line, but different comparison rates apply.

A number of other home loans - both fixed and variable - with different LVRs were also cut by between 5 and 31 basis points.

While the majority of changes to fixed rates in the last two months have been hikes, RateCity advise the opposite is happening in the variable rate market.&nbsp; 
&nbsp; 
RateCity.com.au home loan database analysis shows 49 lenders have cut at least one variable rate in the past two months while 10 lenders have hiked variable rates in that time.

The vast majority of variable rate cuts are reserved for new customers, not existing ones, RateCity research director, Sally Tindall, said.

&ldquo;Variable rates are at record lows, however, most of these deals are reserved for new customers, not existing ones, unless you specifically ask,&rdquo; she said. 
&nbsp; 
&ldquo;Before you call, check what rate your bank is giving new customers for the same home loan, but also find out what other lenders have on offer.

&ldquo;If you are paying significantly more than a new customer, pick up the phone and ask your bank &lsquo;why?&rsquo;.

[smartcode_project:default project_id=7363 project_image_fid=41840] 
&nbsp; 
&ldquo;If you have a good track record of paying down your debt, and the bank thinks you might switch to a more competitive lender, they&rsquo;re likely to play ball. 
&nbsp; 
&ldquo;A lot of people think a handful of basis points won&rsquo;t make much of a difference, but if the discount is permanent, then the savings can potentially run into the thousands in just a few years,&rdquo; she said.

ME has also increased its cashback offer to $3,000 for externally-refinanced home loans.

The new lending amount must be minimum of $250,000.

Eligible refinancers must apply by Friday 27 August inclusive, and settle by Friday 29 October.

ME Bank CEO Adam Crane said the cuts would assist borrowers &quot;looking to maximise their borrowing in a challenging property market.&quot;

In February, ME Bank merged with Bank of Queensland with the deal expected to be finalised this month.

But ME Bank cut rates across a few home loans, while boosting its refinance cashback offer to $3,000

Home loan mortgage rate rises continue

Rent stress has substantially increased over the six months to June 2021, according to ME Bank.&nbsp;

77 per cent of Queensland renters and 72 per cent in NSW are now experiencing stress, the poll of 1500 households by the bank found.

On average renters are spending 41% of their income on rent, which has increased 8% over the past six months to June 2021.

Currently, over two-thirds (68%) of renters reported rent stress &ndash; as typically considered to be rental payments of more than 30% of household disposable income.&nbsp;

The current level of rent stress is even higher (3% higher) than that measured in December 2019, before the COVID-19 pandemic.

Rent stress is typically considered to be rental payments of more than 30% of household disposable income.

[smartcode_project:default project_id=100322 project_image_fid=163029] 
&nbsp; 
Single parents, couples with young children, retirees, and households on low incomes are most subject to rent stress, with women (75%) reporting notably higher rent stress than men (60%).

ME&rsquo;s consulting economist, Jeff Oughton said a combination of factors were contributing to the rise in rent stress.&nbsp;

&ldquo;Rental markets have tightened markedly across the majority of Australia and rents have risen significantly due to falling vacancies,&rdquo; he said.&nbsp;

&ldquo;Renters are now facing some of the biggest rent hikes we&rsquo;ve since the global financial crisis.&rdquo;

As at June 2021 the median rent of houses and units&nbsp;had jumped to $476 per week,&nbsp;a 6.6 per cent increase compared to the same time last year, according to the latest CoreLogic data.

&ldquo;While wage gains, on average, have picked up slightly from the historical lows recorded at the onset of the pandemic, government income support has gradually unwound, and rental moratoriums have ended,&rdquo; added Oughton.

&ldquo;We may see more renters facing hardship as lockdowns continue, particularly among low-income, low-saving households reliant on government support.&rdquo;

Compared to rent stress, mortgage stress is lower, with 42% of mortgagees reportedly paying more than 30% of their household disposable incomes on mortgage repayments.

A recent CoreLogic analysis suggests servicing a mortgage is now cheaper than paying rent on 36.3% of Australian properties, which is higher than the&nbsp;pre-COVID&nbsp;proportion of 33.9%&nbsp;reported in February last year.&nbsp;

The current level of rent stress is 3% higher than that measured in December 2019, before the COVID-19 pandemic

Rent stress on the rise

The respected Sydney-based developer, Abadeen Group, has officially launched&nbsp;its first Gold Coast project.

Abadeen, founded and run by property industry veteran&nbsp;Justin Brown, is behind the latest Palm Beach tower, Villea.

The 69-apartment tower at 26 Mawarra Street has one,&nbsp;two and three-bedroom apartments,&nbsp;designed for owner-occupier.

All of the one-bedroom apartments have already been snapped up pre-launch.

Villea offers&nbsp;a rare affordable entry point in Palm Beach, with current and future projects in the pipeline predominantly targeted at the luxury owner-occupier, many with prices starting from $2 million and up.

[smartcode_project:default project_id=106840 project_image_fid=172251]

Villea prices start&nbsp;from $655,000 for the two-bed, two bath apartments with parking, and rise incrementally to the three-bedroom apartments, which start from $1.41 million.

Brown said Abadeen&nbsp;was delighted to have purchased such a strategic site to enter the Gold Coast market.

&ldquo;We are extremely excited with the purchase in what we believe is one of Australia&rsquo;s premier beachfront locations,&rdquo;&nbsp;Brown said.

&ldquo;The location of the site is close to northern Palm Beach&rsquo;s pristine beachfront precinct as well as Tallebudgera Creek and is located in an area where there are very few development opportunities for such a project.

&ldquo;We know the market is running very strongly on the southern Gold Coast, in Palm Beach particularly, and&nbsp;believe the market is primed for this project.&quot;

[smartcode_project:default project_id=106840 project_image_fid=172250]

There will be private facilities at Villea solely for residents, which includes a&nbsp;resort-style pool, fully equipped gym and a&nbsp;recreational BBQ area.

Villea will also&nbsp;revitalize the street level, with a cool retail&nbsp;strip.

BDA says the project offers the opportunity to reimagine the existing neighbourhood retail centre, as well as&nbsp;introducing&nbsp;a residential component.

&quot;The design approach will result in the addition of high quality, engaging development within this area, that provide a considerable amenity for residents, visitors and neighbours alike,&quot; BDA advise.

One of the biggest drivers for buyers will be the location, 400 metres to the sand of Palm Beach and around the corner from Palm Beach&#39;s thriving cafe and dining precinct.

Palm Beach is also set to be connected to the rest of the Gold Coast by the expanding Gold Coast light rail.

Villea Apartments have views west to the Gold Coast hinterland, north to Burleigh Heads and east across the Pacific Ocean.

Each apartment will have premium finishes and inclusions, including&nbsp;stone benchtops, timber flooring, high quality European appliances, porcelain tile and full height windows to take advantage of the Gold Coast sun.

[smartcode_project:default project_id=106840 project_image_fid=172252]

Abadeen secured the site through GV Property Group&#39;s Antonio Mercuri, who handled the sale on&nbsp;behalf of Gold Coast developer Cru Collective.

It was a well-timed entry in to the Gold Coast market for Abadeen, with the market currently undergoing its highest demand in years.

CBRE Gold Coast agent Nicholas Clydsdale is handling the sales campaign.

[smartcode_project:default project_id=106840 project_image_fid=172249]

About the developer

Abadeen has developed more than $1.3 billion in residential and retail projects over the last 20 years, including high end residential and commercial projects in the Sydney area and a large land estate in the Hunter Valley.

[smartcode_project_cta: project_id=106840]

It's a rare affordable entry point for prospective buyers, with current and future projects targeted at the luxury owner-occupier



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