ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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?

The latest development transforming Melbourne&rsquo;s south-eastern suburb of Malvern East is Landream&rsquo;s Hurstmon.

Boasting 39 residences in two and three-bedroom configurations, Hurstmon forms an eye-catching landmark while complementing the rich history of the suburb.

Designed by Telha Clarke, the project has a &ldquo;hidden-gem quality&rdquo; that extends into each residence and its layered textures, according to architect Tim Clarke.

[smartcode_project:default project_id=4807 project_image_fid=84185]

One of the highlights of the project is the beautiful gardens and landscaping curated by Eckersley Garden Architecture (E-GA).

Urban recently sat down with E-GA&rsquo;s Scott Leung and Eleanor Cook to discuss the luxury development.

MK: How many multi-residential projects have Eckersley Garden Architecture been contracted on within Victoria?

SL+EC: E-GA are currently contracted to 28 mutli-resi developments around the inner suburbs of Melbourne, including South Yarra, Malvern, Malvern East, Hawthorn, Kew and Toorak.

[smartcode_project:default project_id=4807 project_image_fid=84190]

MK: What spoke to you about Hurstmon in particular?

SL+EC: Locality in a very leafy suburb of Malvern and the proximity to the parklands

MK: What was the design brief for the project&#39;s landscaping?

SL+EC: Malvern is very well known for its green gardens, so the brief was one of symbiosis with the architecture and the neighbourhood. Keep it purely gardenesque, understated and relaxing.

[smartcode_project:default project_id=4807 project_image_fid=84184]

MK: Where did you take your inspiration from?

SL+EC: Inspiration definitely comes from nature, so we do our best to represent nature in the gardens we design translated to an urban context for this project.

MK: How did you synthesise the development with the existing landscaping and greenery in the surrounding streets of Malvern East?

SL+EC: The key to making a project feel as though it was always part of the street fabric is to take note of the neighbourhood plant species. This way you can see what works as well as introduce some of these plants or similar species into the new landscape and stitching the street together.

Nothing better than borrowed landscape to enhance a garden.

[smartcode_project:default project_id=4807 project_image_fid=84191]

MK: What was the biggest challenge during the design process?

SL+EC: As always there is a variety challenges with multi-residential projects however the one that stands out is the working of plant species across many levels and aspects.

At least it enables greater plant selection and diversity which is a big plus.

MK: How important is the choice of plants in a project such as this?

SL+EC: Plant selection is a majority priority for the success of the garden. Aspect will determine choice to ensure the plants longevity and tolerances. Nothing more fulfilling than seeing a garden thrive in all conditions

[smartcode_project:default project_id=4807 project_image_fid=84192]

MK: What have you tried to do in the design that the average homebuyer may not notice straight away?

SL+EC:&nbsp;Planting combinations in a garden may seems natural but it takes a lot of knowledge on how a plant develops over time as well as how the layers form.

If this is done correctly a new owner can enjoy the experience the growth of the garden, even take ownership, much like a new developing child throughout the seasons.

Urban recently sat down with Eckersley Garden Architecture's Scott Leung and Eleanor Cook to discuss Hurstmon 

max.kwok_55688

Eckersley Garden Architecture shares inspiration behind the design of Hurstmon's garden areas

Established in 1991, Hickory has steadily evolved from a family-owned company to a nationwide group of construction specialists.

One of Australia&rsquo;s leading construction groups, Hickory has forged a reputation as an innovative and dynamic company with a commitment to environmental sustainability.

Unlike many other construction companies, Hickory prides themselves on their role as project builders.

The company is self-performing of over 60 per cent of the work on their construction projects, including structure, carpentry and fa&ccedil;ade, enabling them greater control over the project&rsquo;s cost and schedule.

With close to 30 properties built by Hickory listed on Urban, below we take a look at the top five that homebuyers can secure in Melbourne now.

1. <a href="/buildings/yarra-one-16-22-claremont-street-south-yarra" target="_blank">Yarra One</a> 
Address: 16-22 Claremont Street, South Yarra VIC 3121 
Two-bedroom apartments from $725,000

[smartcode_project:default project_id=3127 project_image_fid=31085]

EcoWorld International&rsquo;s second Australian project, Yarra One, offers 247 one, two and three-bedroom apartments in Victoria&rsquo;s South Yarra.

Hickory constructed the Fender Katsalidis-designed tower, which features rectilinear patterns and pure geometry.

One of the most striking elements of the $250 million development is the Claremont Street atrium.

2. <a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east?last_source_news_article_id=99979&amp;ref=news_related_project" target="_blank">Hawthorn Park</a> 
Address: 33 Camberwell Road, Hawthorn East VIC 3123 
Two-bedroom apartments from $670,000

[smartcode_project:default project_id=3730 project_image_fid=158928]

Dahua Group&#39;s Hawthorn Park&nbsp;delivers a mix of one, two, three and four-bedroom residences that reimagine the norm of apartment living.

Designed by Rothelowman, the project boasts unparalleled amenities, including Melbourne&rsquo;s first sky pool, theatre rooms and a stunning sky lounge.

The tower also features over 2000 sqm of parkland curated by acclaimed landscape architect Jake Merlo that bring the Hickory-constructed building to life.

3. <a href="/buildings/victoria-vine-1-57-wellington-street-collingwood">Victoria &amp; Vine</a> 
Address: 1-57 Wellington Street, Collingwood VIC 3066 
Three-bedroom apartment prices available upon request

[smartcode_project:default project_id=5117 project_image_fid=24688]

Situated in Collingwood, Victoria &amp; Vine is a new $280 million luxury residential and retail precinct delivered by GURNER.

Set across nine buildings of different materials and heights, the development draws influence from New York&rsquo;s Meatpacking District and embodies a warehouse-style structural design.

Designed by COX Architecture, the homes blend into Collingwood&rsquo;s rich history of industrial factories and feature 11 retail tenancies and 4,500 sqm of resident amenity.

Only three-bedroom apartments remain.

4. <a href="/buildings/east-central-tower-820-whitehorse-road-box-hill">East Central Tower</a> 
Address: 820 Whitehorse Road, Box Hill VIC 3128 
Two-bedroom apartments from $565,000

[smartcode_project:default project_id=3867 project_image_fid=21985]

East central tower is a 30-storey building in Melbourne&rsquo;s Box Hill, delivered by the LongRiver Group.

Designed by Fender Katsalidis, the tower features 301 apartments in one, two and three-bedroom configurations.

The urban paradise boasts 1,500sqm of residential facilities, plus 3000 sqm of combined office and retail space, including a wellbeing centre, pool, yoga studio and gym.

Hickory completed construction on the 30-storey tower in December 2020.

5. <a href="/buildings/victoriana-melbourne-20-queens-road-melbourne">Victoriana</a> 
Address: 20 Queens Road, Melbourne VIC 3004 
Two-bedroom apartments from $745,000

[smartcode_project:default project_id=1979 project_image_fid=78667]

Completed in March 2021 by Hickory, Victoriana delivers 250 oversized two, three and four-bedroom apartments over 41,000 sqm of build form.

Overlooking Albert Park, the 18-storey tower features luxurious amenities and sprawling terraces with panoramic vistas.

Located on one of the most prestigious boulevards in Melbourne, St. Kilda Road, the Rothelowman-designed project features a large heated indoor to outdoor pool, cabana lounges and outdoor gardens.

One of Australia’s leading construction groups, Hickory has forged a reputation as an innovative and dynamic company with a commitment to environmental sustainability

Top five projects Hickory are building in Melbourne in 2021

The Brisbane apartment market continue to show strength over May, posting 1.1 per cent gains,&nbsp;CoreLogic&#39;s monthly Hedonic Home Value Index found.

The rolling quarterly apartment gains&nbsp;are now up to 3.2 per cent, with the median apartment price reaching&nbsp;$411,000.

The media veteran Steve Hunt, who founded the public relations and media strategy firm Media Hunt in 2005, has cast his eye over the Brisbane market and what&#39;s happening in the Queensland capital.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/l0ki80HEaz4" title="YouTube video player" width="660"></iframe>

Hunt mentioned The Fernery, which has been popular with local owner-occupiers

Urban recently spoke to Colliers residential director Andrew Scriven, who said most of the buyers have come from a couple of kilometre radius.

[smartcode_project:default project_id=100681 project_image_fid=162778]

&quot;There&#39;s been overwhelming success since launch in April&nbsp;from the local market, looking to either downsize, invest or secure something for the children,&quot; Scriven said.

&quot;Locals have really embraced the project. They&nbsp;haven&rsquo;t really had that offering ever.&quot;

The project by the Townsville-based&nbsp;Honeycombes, in partnership with their financier MaxCap, will comprise the 82 apartment block The Fernery, as well as&nbsp;a 12,000 sqm retail centre set next to the Ferny Grove train station.

The media veteran Steve Hunt has cast his eye over the Brisbane market and what's happening in the Queensland capital



Brisbane apartment market in the spotlight: Media Hunt's May update

The Gold Coast has continued across May to see stellar results, as well as new apartment&nbsp;projects lodged to the local council.

From planning documents to approvals and sales successes, Urban have wrapped up all the moves&nbsp;across the Gold Coast.

<h2>Hirsch &amp; Faigen launch Hemingway, Palm Beach apartments</h2>

The Melbourne-based national developer Hirsch &amp; Faigen have officially launched Hemingway, their first apartment development on the Gold Coast.

Prices will range from $450,000 to $2 million in the Palm Beach residential project which will comprising 78 apartments over 14 levels. The penthouse is priced at $4 million.

[smartcode_project:default project_id=24532 project_image_fid=86676]

Rothelowman have designed the tower which has been described as a multi-storey reimagining of the area&rsquo;s humble holiday shacks from the late 1950s and 1960s.

To read more, <a href="/news/qld/hirsch-faigen-launch-hemingway-palm-beach-apartments">click here</a>.

<h2>Sammut lodge plans for $200 million Surfers Paradise apartment tower, Coast</h2>

The Sydney-based luxury developer&nbsp;Sammut Developments&nbsp;are set to expand in to the hot Gold Coast&nbsp;off the plan&nbsp;apartment market.

<img alt="" height="675" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sammut_coast_2.jpg" width="1200" />

They&#39;ve lodged plans with the Gold Coast City Council for a new apartment tower in the heart of Surfers Paradise, to be called Coast.

The new tower at 43 Garfield Terrace will rise 35 levels if it gets sign off from the local council and will home just 49 apartments.

To read more, <a href="/news/qld/tower-reveal-sammut-lodge-plans-for-200-million-surfers-paradise-apartment-tower-coast">click here</a>.

<h2>Lacey Group all-but sell out Palm Beach project The Monroe</h2>

The local Gold Coast developer&nbsp;Lacey Group&nbsp;has secured a near sell out of its luxury Palm Beach apartment development, The Monroe.

<img alt="" height="746" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the_monroe_lacey_group_0.jpeg" width="1324" />

It took just two weeks for all but one of the apartments to be snapped up following the launch of the 33 apartment development on the Jefferson Lane dress circle.

Apartments in the Plus Architecture-designed development, which ranged&nbsp;between $619,000 and $1.79 million, were snapped up by local owner-occupiers,

To read more, <a href="/news/qld/lacey-group-all-but-sell-out-palm-beach-project-the-monroe">click here</a>.

<a href="/developments/gold-coast-qld?source_news_article_id=1&amp;ref=news_body_link02293"><img alt="" height="797" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/gc_newest_tile_jpeg_11.jpg" width="1200" /></a>

<h2>Raptis set for new Broadbeach, Gold Coast apartment tower</h2>

The Gold Coast developer Raptis has officially lodged plans for its newest Gold Coast tower.

<img alt="" height="758" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/raptis_broadbeach_3.jpg" width="1200" />

They&#39;ve secured a prime development site in Broadbeach at 6-8 George Avenue, next to the Pacific Fair Shopping Centre in the heart of the coastal hotspot.

The busy Sydney-based architecture firm&nbsp;Koichi Takada&nbsp;Architects, who have taken on a number of projects on the Gold Coast in recent months,&nbsp;have designed the 40 storey building.

To read more, <a href="/news/qld/tower-reveal-raptis-set-for-new-broadbeach-gold-coast-apartment-tower">click here</a>.

<h2>Auriton set to make move to Gold Coast market</h2>

The primarily Melbourne-based developer Auriton are set for their first residential apartment tower in Queensland.

<img alt="" height="630" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/auriton_gc.jpg" width="1200" />

They snapped up a prime 1,095&nbsp;sqm development site at 2932-2934 Gold Coast Highway in late March&nbsp;and have just lodged plans to the City of Gold Coast council for an $80 million tower&nbsp;with 108 apartments.

It has been designed by the renowned architecture firm&nbsp;Rothelowman, who are calling the 30th level tower&nbsp;a vertical community.&nbsp;The design incorporates just four apartments per floor for the most part, with 14 sqm balconies located on each corner of the building.

To read more, <a href="/news/qld/tower-reveal-auriton-set-to-make-move-to-gold-coast-market-with-rivea-tower">click here</a>.

Find out <a href="/news/qld/gold-coast-apartment-development-insights-what-happened-on-the-gc-in-april">what happened on the Gold Coast over April</a>.

From planning documents to approvals and sales successes, Urban have wrapped up all the moves across the Gold Coast.



Gold Coast apartment development insights: What happened on the GC in May?

The RBA board has noted that housing markets have strengthened further, "with prices rising in all major markets."

It noted housing credit growth has picked up, with strong demand from owner-occupiers, especially first-home buyers. 

It also acknowledged there has also been increased borrowing by investors. 

"Given the environment of rising housing prices and low interest rates, the bank will be monitoring trends in housing borrowing carefully and it is important that lending standards are maintained," the bank governor Dr Philip Lowe advised.

The bank again advised it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range. 

"For this to occur, the labour market will need to be tight enough to generate wages growth that is materially higher than it is currently. 

"This is unlikely to be until 2024 at the earliest," Dr Lowe noted.

It added "an important ongoing source of uncertainty (in the economic recovery) is the possibility of significant outbreaks of the virus, although this should diminish as more of the population is vaccinated."

The rate decision came after CoreLogic advised Australia's COVID-19 property boom continued in May with housing prices up  2.2 per cent which puts it at more than 10 per cent since the pandemic hit.

Hobart and Sydney had the strongest price growth in May.

The RBA noted housing credit growth had picked up, with strong demand from owner-occupiers, especially first-home buyers. 

jchancellor-FAypfDUnLy

All major housing markets see price rises: RBA

SQM Research reveal national residential property listings dropped in May by 6.3% to 245,953, down from 262,617 in April.

Old stock is being cleared nationwide as the number of buyers outstrips sellers during this property boom, SQM managing director Louis Christopher noted.

 The largest monthly falls in property listing were in Canberra, Melbourne, Brisbane and Adelaide.

Stock levels trended downwards in regional locations around Australia, which is putting pressure on asking property prices, he noted.

Compared to 12 months ago, listings fell 19.2% across the nation, with the biggest falls in Hobart, Adelaide, Canberra and Brisbane. 

New listings - for sale for less than 30 days - fell 2.4% over May 2021 to 79,673 properties on the market, though they rose 54.1% over the year. 

New listings dropped the most in in Canberra and Melbourne, down by 7.5% and 6.8%, respectively. 

Perth and Darwin went against the trend and posted rises in new listings of 2.9% and 1.5%, respectively. 

"In a sign that older stock is clearing, property listings over 180 days dropped by 9.2% in May 2021 and they are down 44% over the year, with falls posted recorded in all capital cities, and particularly larger falls in the smaller capital cities," Christopher noted.



SQM Research noted national residential property listings dropped in May by 6.3% to 245,953 from 262,617 in April

jchancellor

Residential real estate stock levels dipped in May: SQM

The Sydney apartment market has continued its forward momentum, posting further 1.8 per cent gains over May,&nbsp;the monthly Hedonic Home Value Index from property data firm CoreLogic found.

It was a further uplift from last month when values rose 1.3 per cent. Over March values rose 2.1 per cent, which takes their rolling quarterly gains&nbsp;to 5.3 per cent.

The median apartment value across the Harbour capital is now around $50,000 higher than it was at the start of 2021, having jumped from $734,000 to $781,000 over the last five months.

<a href="/developments/sydney-nsw?source_news_article_id=102258&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_0.jpg" width="1200" /></a>

&ldquo;From a geographic perspective, it was the smaller capital cities that led the housing market out of the COVID slump, but now Sydney has risen through the ranks to record the largest capital gain over the past three months with values up 9.3 per cent,&quot; CoreLogic&#39;s research director&nbsp;Tim Lawless said on Sydney&#39;s dwelling values (combined house and apartment values).

It has been the top end of the market driving the Sydney dwelling value increase. Upper quartile dwelling values have increased by 12 per cent&nbsp;over the past three months compared with a 5.2 per cent&nbsp;increase in values across the lower quartile.

Lawless reaffirmed the fundamentals driving strength in the housing market remain in place.

[smartcode_project:default project_id=7758 project_image_fid=79424]

&ldquo;The combination of improving economic conditions and low interest rates is continuing to support consumer confidence which, in turn has created persistently strong demand for housing.

&quot;At the same time, advertised supply remains well below average.

&quot;This imbalance between demand and supply is continuing to create urgency amongst buyers, contributing to the upwards pressure on housing prices.&quot;

CoreLogic research director Tim Lawless reaffirmed the fundamentals driving strength in the housing market remain in place

June 2021: How did Sydney apartments perform over May?

Melbourne apartment values soared past the $600,000 median over May after&nbsp;0.8 per cent value growth, the monthly Hedonic Home Value Index&nbsp;from property data firm CoreLogic found.

The continued growth follows one per cent gains over April and 2.1 per cent in March.

The solid May performance takes the quarterly apartment gains across the Victorian capital to 3.6 per cent and the median apartment price to $605,000, well up from the $577,000 median at the start of 2021.

Apartment values in the Victorian capital have been rising since October, according to CoreLogic&#39;s data.

<a href="/developments/melbourne-vic?source_news_article_id=102257&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_melbournecbd_3.jpg" width="1200" /></a>

CoreLogic&#39;s Head of Residential Research Tim Lawless reaffirmed the fundamentals driving strength in the housing market remain in place.

&ldquo;The combination of improving economic conditions and low interest rates is continuing to support consumer confidence which, in turn has created persistently strong demand for housing.

&quot;At the same time, advertised supply remains well below average.

&quot;This imbalance between demand and supply is continuing to create urgency amongst buyers, contributing to the upwards pressure on housing prices.&quot;

Melbourne is the only capital where total listing numbers are now higher than the five-year average.&nbsp; Unit listings were up over 29 per cent over the past year.

<a href="/developments/docklands-vic-3008"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/template_photoshop_docklands_0.jpg" width="1200" /></a>

Despite the increase in newly advertised residential properties across the country, sales activity has also increased. CoreLogic estimates sales activity over the three months to May was tracking about 37% higher than the five-year average.

&ldquo;The sales to new listings ratio remains around 1.1, meaning for every new listing there is more than one sale occurring,&rdquo; Lawless said,

&ldquo;This rapid rate of absorption is keeping advertised inventory levels extremely low, despite the rise in new listings. As a consequence, vendors remain in a strong selling position while buyers have a weak 
position at the negotiation table.&rdquo;

CoreLogic's Head of Residential Research Tim Lawless reaffirmed the fundamentals driving strength in the housing market remain in place

June 2021: How did Melbourne apartment values perform over May?

Nestled in the shade of the River Red Gums, Mason Quarter is an exclusive new master-planned community set to elevate living in Wollert.

Mason Quarter is a 64-hectare master-planned community in Melbourne’s northern growth corridor, located only 25 kilometres from the CBD.

Delivered by Cedar Woods, the project incorporates over 800 dwellings, two schools, community facilities, a 7.9-hectare conservation reserve and over 30 distributed tree reserves with majestic river red gums.

[smartcode_project:default project_id=99962 project_image_fid=160810]

The community will offer the opportunity for people to craft their ideal lifestyle in beautiful, natural surrounds, with a diverse range of home styles available.

The first release of Mason Quarter Terrace townhomes features a collection of two, three and four bedroom configurations with an array of inclusions and upgrades to choose from.

Mason Quarter is conveniently located within walking distance of the future Wollert town centre and there is a range of existing infrastructure and public amenity nearby including the Hume Freeway, Metropolitan Ring Road, hospitals, shopping centres and public transport.

[smartcode_project:default project_id=99962 project_image_fid=160808]

The community has a variety of land lots to suit a range of budgets. This includes sub-300 sqm small lots in addition to traditional lots over 300 sqm.

They have a range of Home &amp; Land Packages and townhomes such as the SOHO Living Townhomes at starting from as low as $381,500.

These SOHO Living townhomes offer turnkey and hassle-free options, backed with a 10 year structural guarantee from SOHO Living.

[smartcode_project_cta: project_id=99962]

Delivered by Cedar Woods, the project incorporates around 800 dwellings, two schools, community facilities, a 7.9-hectare conservation reserve and over 30 distributed tree reserves

jordan_55689

The first townhome release in the brand new Wollert master-planned community Mason Quarter

As part of the developer&rsquo;s commitment to environmental sustainability, Omnia uses the best materials and technologies in environmental and sustainable building methods.

Delivered by Shenfield Property, the 40-apartment development&rsquo;s park frontage adds to the growing number of green spaces in the area.

Featuring energy-efficient design, together with appealing gardens created by Wallbrink Landscape Architecture, Omnia delivers exciting new residences with comfort and style.

On offer are a selection of one, two and three-bedroom apartments&nbsp;designed by Roger Brayshaw Architects.

One bedders start at&nbsp;as low as&nbsp;$465,000, with two-bedroom apartments priced&nbsp;from $645,000 and three bedroom homes from $875,000.

[smartcode_project:default project_id=29048 project_image_fid=151675]

The home&#39;s feature high-quality finishes, including concealed cabinetry, glass splash backs in the kitchen, matte black tap ware and integrated appliances.

All homes include plush carpet, engineered flooring and stone tiles, and elegant full-wall tiles in the bathrooms.

Living spaces at Omnia are generous with adjoining north-facing balconies giving you plenty of sunlight to enjoy throughout the day. Plus certain units feature city views.

It is set for completion in late 2022.

[smartcode_project:default project_id=29048 project_image_fid=151677]

Located in one of Melbourne&rsquo;s major suburbs, Omnia sits within a thriving community offering something for everyone.

It is just 20 minutes from the CBD&nbsp;and a short drive to some of Melbourne&#39;s best beaches.

A wide range of schools, higher education, caf&eacute;s, shopping and numerous parks and reserves are at your doorstep, including RSEA Park &ndash; home of the St Kilda Football Club.

[smartcode_project_cta: project_id=29048]

As part of the Shenfield Property’s commitment to environmental sustainability, Omnia uses the best materials and technologies in environmental and sustainable building methods

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