ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

Joel Robinson

RBA to hold rates for "prolonged period" rather than hikes: ANZ

<a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.

The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.

<a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.

[smartcode_project:default project_id=135663 project_image_fid=360477]

The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.

Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.

VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.

“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.

[smartcode_project:default project_id=135663 project_image_fid=360505]

The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.

The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.

Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.

[smartcode_project:default project_id=135663 project_image_fid=360473]

BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.

The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.

<a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.

The first stage of Cumulus Grand Villas is targeting completion in 2026.

[smartcode_project_cta:default project_id=135663]

VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

Waverley Council has made a call that many councils have been reluctant to make publicly. Growth is coming, regardless of who controls it.

The release of the Bondi Junction Vision and Master Plan is less about whether the Eastern Suburbs’ primary centre will change, and more about how that change is shaped, funded, and ultimately experienced on the ground. Waverley Council has released a 100-page plan which is effectively the first comprehensive blueprint for Bondi Junction in over two decades, and in doing so, signals a clear shift in how councils are positioning themselves in the current planning environment.

For the past 18 months, the conversation across New South Wales has been dominated by the State Government’s Low and Mid-Rise Housing reforms and the emergence of the Housing Delivery Authority pathway. Both have created faster, more centralised avenues for development approvals, particularly in well-located, infrastructure-rich areas like Bondi Junction.

Waverley Council’s response has been to move early, and decisively.

Rather than react to individual proposals as they come through the HDA or broader State-led reforms, Council has sought to establish a clear, place-based framework that sets the terms for how Bondi Junction evolves. The underlying position is relatively straightforward: if densification is inevitable, it should be tied to infrastructure, public domain improvements, and a cohesive vision for the centre, not delivered piecemeal through ad hoc applications.

<img alt="bondi junction" data-entity-type="file" data-entity-uuid="7f1f729c-ed99-4c6c-bf87-ffbce6991941" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-19%20at%209.58.16%E2%80%AFAM.png?VersionId=ULX4OlXKjeJ5BvNCNGL86evgXCjCfMih" />

At its core, the document is attempting to reposition Bondi Junction from what it largely functions as today, a transport interchange anchored by a major retail centre, into something far more layered. The ambition is to transform it into what the plan describes as the “civic and cultural heart of Sydney’s East,” a place that is active beyond commuting hours and capable of supporting a broader mix of uses, experiences and communities.

That repositioning is built around four key ambitions.

The first is to create a true destination. Bondi Junction already attracts significant foot traffic, with more than 86,000 daily transport users and millions of annual retail visits, but much of that activity is transient. People pass through, rather than stay.

The Master Plan seeks to change that dynamic. It leans heavily into the idea of an “18-hour economy,” extending activity well beyond traditional retail hours through dining, cultural programming, events, and a more active night-time offering. This is not just about adding more hospitality venues, but about fundamentally shifting how the centre operates, from a daytime shopping destination to a place that functions across the full span of the day and into the evening.

Oxford Street Mall sits at the centre of that shift.

Long seen as underperforming relative to its potential, the Mall is identified as one of the key catalyst projects in the plan. It is to be reimagined as a day-to-night spine, combining retail, dining, wellness and cultural uses in a way that creates a continuous flow of activity. Outdoor dining, rooftop venues, laneway activation and a curated events program are all part of the strategy, alongside significant public domain upgrades that aim to improve comfort, safety and usability.

&nbsp;

The second ambition is to transform Bondi Junction into a world-class interchange.

Despite being one of the most heavily used transport nodes in Sydney, the current experience is fragmented. Connections between the station, Westfield, Oxford Street Mall and surrounding streets are often unclear, and major roads create physical barriers that disrupt pedestrian movement.

The Master Plan proposes a more seamless, people-focused network. That includes clearer pedestrian links, improved wayfinding, better integration between transport modes, and a rethinking of how arrival into the centre is experienced. The aim is to shift the perception of Bondi Junction from a place people move through, to a place they arrive in.

The third ambition focuses on greening and open space.

One of the more consistent pieces of community feedback throughout the Vision phase was the need for more greenery, better public spaces, and a more comfortable urban environment. Despite being surrounded by major parks, Bondi Junction itself has relatively limited accessible open space, with much of the public realm dominated by hard surfaces and traffic infrastructure.

The plan responds with a network of new and upgraded public spaces, increased tree canopy, and what it terms the “Parkline,” a green link connecting Waverley Park through to Centennial Park. This is not just about aesthetics. It is about addressing heat, improving liveability, and ensuring that increased density is matched by access to high-quality outdoor space.

The fourth ambition is perhaps the most important from a development perspective: growth that gives back.

Bondi Junction is already the primary location for new housing supply in the Waverley LGA, and that is expected to continue. The area carries a target of 2,400 new dwellings by 2029, with further growth projected beyond that as demand for well-located housing continues to rise. The Master Plan does not seek to limit that growth. Instead, it attempts to shape it.

New housing is to be concentrated around transport, with stepped building heights designed to protect the character of surrounding neighbourhoods. At the same time, the plan introduces a more explicit link between development uplift and public benefit. This is where value capture becomes central.

The document outlines a framework where increased development potential is tied to contributions that fund public domain improvements, community infrastructure, open space, and affordable housing. It is an approach that recognises that much of the transformation of Bondi Junction will be delivered by the private sector, but seeks to ensure that the benefits of that growth are shared more broadly. The Civic Precinct is a key part of that equation.

Leveraging Council-owned land, the plan proposes a consolidated civic and cultural hub centred around Ebley Street. This would include new community facilities, cultural spaces, and potentially a new Council Chambers, creating a focal point for civic life that currently does not exist in Bondi Junction at scale.

It is one of several catalyst projects identified in the Master Plan, alongside the Oxford Street Mall transformation. These projects are intended to anchor change, acting as early interventions that unlock broader investment across the precinct.

Importantly, the Master Plan is not just a design document. It includes a delivery framework that sets out how these ambitions are intended to be realised.

Council is explicit in acknowledging that it cannot deliver the transformation alone. Implementation will require coordination between State agencies, private developers, landowners and the community, with a mix of planning agreements, infrastructure contributions and direct delivery mechanisms used to fund and stage improvements over time.

The plan outlines a mix of short-term, medium-term and long-term actions, from immediate public domain upgrades and planning controls, through to larger-scale projects that will unfold over the next decade or more. In practical terms, the next 12 to 24 months will be the most important.

This is when the Master Plan will move through exhibition, refinement and eventual adoption. It is also the period in which Council will seek to embed the framework into its planning controls, giving it weight in the assessment of future development applications.

Council officers have indicated that once the Master Plan is in place, it could be used as a benchmark when assessing Housing Delivery Authority proposals, and potentially reduce the need for further HDA declarations within Bondi Junction. In effect, it is an attempt to bring planning control back to the local level, while still aligning with State housing targets.

That tension between State-led reform and local planning control is not unique to Waverley. It is playing out across Sydney.

&nbsp;

&nbsp;

&nbsp;

If delivered as intended, Bondi Junction will become denser, more active, and more complex. It will support more residents, more workers, and a wider range of uses, extending beyond its current retail core into a more layered urban environment.

“The civic and cultural heart of Sydney’s East”: Bondi Junction masterplan revealed

Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.

Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.

The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.

Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" />

The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.

The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.

Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.

While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.

<img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" />

Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;

The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;

Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;

Blair House, also on St Georges Road, sold for $74.5 million in 2022.

First look: Toorak Pavilions slated for dress circle St Georges Road

Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.

A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.

The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" />

The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”

The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.

Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.

The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.

“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.

<img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" />

The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.

Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.

First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront 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>

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First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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The international DJ Carl Cox and the veteran music promoter Richie McNeill, who started music festival Stereosonic, are selling their successful holiday rental accomodation in the Victorian Alpine.

They’re seeking for over $2 million for the Myrtleford property which they had built in by the Windsor-based RAID Studio, after the pair paid $210,000 for a vacant two hectare block back in 2009.

Since 2013 it’s been a successful high-end holiday rental, known as Tatoonie, which gets booked at over $700 a night midweek and $2,200 for two nights over Friday and Saturday.

<img alt="" height="789" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cox_3.jpg" width="1200">

Offered fully furnished, the home is split in to an east and west wing to divide the accomodation and living spaces.

The east wing is made up of four bedrooms, including two master bedrooms, a queen bedroom and a bedroom with four king single bunks which allows for rentals up to 13 guests.

The west wing is the living space which has a home office, and the hub of the living space, an open plan main kitchen, living and dining area with polished aggregate floors, created using local stone, with in slab floor heating and an open fireplace with woodbox.

<img alt="" height="783" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cox_2.jpg" width="1200">

The concrete kitchen bench top with wooden breakfast bar matches the hand made wooden table. The space opens to an outdoor deck with in ground salt chlorinated swimming pool, an outdoor shower, toilet, four person sauna and an outdoor barbecue.

In the grounds there’s a custom colorbond grey shed.

Ray White Myrtleford agents Sandra Dondio and Scott McMasters have the listing.

Cox has owned a home on the Mornington Peninsula since 2006 when he bought a home in Frankston South where he has spent his time during the COVID-19 pandemic.

<h2>Properties in Victoria selling now:</h2>

[smartcode_project:default project_id=600]

[smartcode_project:default project_id=29358]

[smartcode_project:default project_id=92985]
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They’re seeking for over $2 million for the Myrtleford property which they had built in by the Windsor-based RAID Studio

International DJ Carl Cox and veteran promoter Richie McNeill list Victorian Alpine holiday let

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The first tracks have been laid on the City &amp; Southwest Metro, Australia's biggest public transport infrastructure project.

Premier Gladys Berejiklian said extending Sydney Metro from the north west into the city and Bankstown will forever change how we get around Sydney and will create vital jobs.

“The construction of this mega project couldn’t come at a more important time for our State. Metro forms a key part of the Government’s record $107 billion infrastructure pipeline, which will be a major jobs creator during our COVID-19 recovery. More than 5000 people are currently working across the City &amp; Southwest Metro project and, by the time the project opens, around 50,000 people will have worked on it,” she said.

Minister for Transport and Roads Andrew Constance said Sydney will have 31 Metro railway stations and a 66 kilometre standalone Metro railway system in 2024.

Systems Connect, a joint venture between CPB Contractors and UGL, is designing and converting the excavated tunnels into a working railway, including distributing and laying the rail tracks along the tunnels.

The company is also expanding the Sydney Metro Trains Facility at Rouse Hill, building a new facility at Marrickville and installing the power systems for the Sydney Metro extension.

Metro trains will start running through the tunnels in 2024, extending from the North West Metro, into the city and beyond to Bankstown.

New stations will be delivered at Crows Nest, Victoria Cross, Barangaroo, Martin Place, Pitt Street and Waterloo, along with new underground platforms at Central Station.
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The first tracks have been laid on the City & Southwest Metro, Australia's biggest public transport infrastructure project

urban.com.au

First tracks laid in Australia's biggest public transport infrastructure project

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A Main Beach, Queensland Penthouse has been listed for $7.2 million.

Located at the top of the Marquis on Main a residential only tower, it holds sweeping beach and ocean views.

Situated at 42/11 Peak Avenue the penthouse comprises five-bedrooms and four-bathrooms across 868 sqm.

The building features resort style facilities and is within walking distance of innumerable amenities, beaches and transport options.

The abode is currently being listed through Fox's Real Estate.

Built in 2003, the home has been on and off market, mostly on, since 2013 seeking as low as $5.95 million in 2018/2019 but has yet to sell. It was briefly listed in June last year at $6.7 million.

For sale in the same building is unit 11, on market since May last year, seeking $2.875 million. It last sold for $950,000 in 2012.

Construction was started in 2002 by FKP of its $45 million Marquis on Main tower at Main Beach after achieving unconditional sales of about 50 per cent with early deals including the sale of a whole-floor sub-penthouse for $1.75 million.
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Built in 2003, the home has been on and off market, mostly on, since 2013 seeking as low as $5.95 million in 2018/2019 but has yet to sell

Marquis on Main Beach penthouse listed for $7.2 million 

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Australia offers some of the world's most glamourous pools, a number of which can be found in Canberra.

Despite the generally colder weather, that doesn't stop the elaborate and intricate construction of open-air pools across a number of new, planned and under construction developments.

The leading new apartment developer in Canberra is the Geocon Group with 14 different projects, across multiple stages of readiness and completion listed on Urban.

<h2>1. <a href="/buildings/park-avenue-20-allara-street-canberra">The Establishment</a>
</h2>

Corner of Gundaroo Drive and Gozzard Street, Gungahlin ACT 2912

<figure><a class="colorbox colorbox-insert-image" href="/buildings/the-establishment-90-swain-street-gungahlin" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="427" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/establishment_facade.jpg?itok=CC-PYaSy" width="580"></a></figure>Inspired by Chicago’s industrial warehouse scene, The Establishment offers one, two, three-bedroom and loft apartments “designed for luxury and forged in style,” the marketing reads. Homes begin at just $313,000 for a one-bedroom, one-bathroom apartment in the complex.

The residence offers private amenities, including a rooftop infinity-edge lap pool (pictured in the title) with outdoor spa and an exclusive outdoor strength and agility gym. It is located just five minutes from Yerrabi Pond and numerous parklands and walking tracks.

The project offers two-bedroom, one-bathroom apartments from $452,900. 

It is one of many ACT offerings from Geocon Group and is set for completion in 2021.

<h2>2. <a href="/buildings/black-diamond-final-release-335-anketell-street-greenway">Aspen Village</a>
</h2>

Corner Reed and Anketell Streets, Greenway ACT 2900

<figure><a class="colorbox colorbox-insert-image" href="/buildings/black-diamond-final-release-335-anketell-street-greenway" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="428" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/aspen_village_pool.jpg?itok=sw07MWeR" width="580"></a></figure>Aspen Village features a selection of 1, 2 and 3 bedroom apartments with sweeping views in every direction, from Lake Tuggeranong to The Brindabella Range.

The residence offers price amenities including an outdoor rooftop entertaining area, including BBQs, dining facilities and fire pits as well as a heated infinity-edge pool.

Prices in the Geocon development start from $330,000 for one-bedroom apartments, $440,900 for two-bedroom units and three-bedroom apartments start from $713,900.

<h2>3. <a href="/buildings/grand-central-towers-15-bowes-street-phillip">Grand Central Towers</a>
</h2>

15 Bowes Street, Phillip ACT 2606

<figure><a class="colorbox colorbox-insert-image" href="/buildings/grand-central-towers-15-bowes-street-phillip" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="430" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/gct_pool.jpg?itok=qiCGSM19" width="580"></a></figure>Grand Central Towers comprising two 16-storey and 25-storey buildings is comprised of 448 residences. Around the time of it's announcement in 2018, the Woden development broke the ACT sales record, according to joint developers Geocon and Zapata.

Buyers snapped up more than $100 million worth of property at a special sales event, with the development’s proximity to the Stage 2 of the light rail line being a key factor in the property’s appeal. A rooftop infinity pool also helped.

“Selling 250 units, including a penthouse and 100 per cent of the commercial spaces is a phenomenal outcome not just for us, but for the whole of Woden," Geocon Managing Director Nick Georgalis said.

One-bedroom apartments start at 260,900, while two-bedroom units are available from $541,900. A Penthouse sold for $1.5 million. It is also a Geocon Group offering.

<h2>4. <a href="/buildings/highgate-153-264-city-walk-city">Highgate</a>
</h2>

260-264 City Walk Street, Canberra City ACT 2600

<figure><a class="colorbox colorbox-insert-image" href="/buildings/highgate-153-264-city-walk-city" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="331" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/highgate_pool.jpg?itok=CLbjzjJV" width="580"></a></figure> 

Morris Property Group's Highgate development in the Canberra CBD in one of their 11 developments. The 18 level high-rise development is home to 184 apartments.

Rising 56 metres into the air, the development is home to a number of amenities including an open-air pool and fitness centre. 

The mixed-use development is completely sold out and also features a ground floor retail holding.

<h2>5. <a href="/buildings/high-society-1-grazier-lane-belconnen">High Society</a>
</h2>

1 Edmonstone Place, Belconnen ACT 2617

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/high_society_pool.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="422" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/high_society_pool.jpg?itok=R2DaUM69" width="580"></a></figure>Another development that is home to a luxury pool is the new waterfront Republic precinct in Belconnen, High Society, Canberra’s tallest towers.

The twin towers rise above Lake Ginninderra with uninterrupted views of nature. Designed by Fender Katsalidis, the towers will comprise 541 one, two and three-bedroom residences across two 27 level towers and a 135 suite Abode Hotel.

The panoramic floor to ceiling windows let sunlight flood into all bedrooms and living spaces with higher ceilings than the average apartment development. 

Also a Geocon development, it features a 'garden wonderland' style resort pool.
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5 of the best apartment pools in Canberra

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Apartments of Melbourne, which specialised in short stay Melbourne apartment accommodation, has gone into administration.

It is being liquidated by Cor Cordis partner Sam Kaso.

The business had turn over of more than $10 million annually from 160 serviced apartments in Empire Melbourne Central, 555 Flinders Street, and 568 Collins Street.

The collapse of business travel has been blamed for the administration, along with rival accommodation hitting the market from the online booking site Airbnb. 

At its peak, Apartments of Melbourne employed 52 people, according to director Neil Devonport.

Booking.com. and the ATO rank among its bigger creditors, according to The Australian, with creditors owed around $1 million.

Apartments of Melbourne started in 2015.

Devonport told The Australian almost 25,000 rentals had come on to the Melbourne market in the last six months, with over half being short-stay apartments where operators had walked away.
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The collapse of business travel has been blamed for the administration, along with rival accommodation hitting the market from Airbnb



jchancellor

Short-stay accommodation provider Apartments of Melbourne goes into liquidation

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The Melbourne developer Elias Jreissati of Bensons Property Group and his wife Colleen, have listed their winter escape for January 28 auction.

The four-bedroom, whole-floor apartment covers 643 sqm in the Ephraim Island, Paradise Point complex.

It has hotel-style bedroom suites.

The penthouse features a master bedroom with a dressing room and ensuite, large north-facing balconies, formal and informal spaces.

<img alt="" height="781" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/ephraim_2.jpg" width="1200">

More than 20 groups have viewed the 6601 apartment since it listed with the majority of inquiries coming from local or Brisbane buyers, according to the listing agent, Matt Gates, at Ray White Prestige Surfers Paradise.

Top-end furnishings and appliances are a feature.

The nearby penthouse apartment sold by developer John Longhurst in 2008 at $4.59 million with 635 sqm space has just gone under offer, according to its realestate.com.au listing.

Ephraim Island’s strata restaurant space recently sold for $1.9 million with the selling agent Gerry Thibault at Nai Harcourts Gold Coast noting the space “enjoys a captive market of 383 upmarket residential apartments on the island.”

The space had last sold at $1.8 million in 2016.

[smartcode_project:default project_id=22057]
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The four-bedroom, whole-floor apartment covers 643 sqm in the Ephraim Island, Paradise Point complex.

Melbourne developer Elias Jreissati of Bensons Property Group lists Ephraim Island holiday penthouse

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The COVID-enduced downturn in the Australian economy has given residential developers a chance to look to the future and secure residential sites across Sydney.

The NSW Residential Site Sales Division at Savills secured 12 sales over 2020, worth over $330 million, and have another four sites set to exchange early this year for another $190 million.

Apartment sites located near rail, retail amenity and educational facilities remain in high demand, with the lower and upper north shore, city fringe and inner west particularly popular.

Real estate forecasts are strong for 2021 and beyond, particularly in Sydney, where 

Off the plan sales in premium residential blocks such as Crown Residences, Kurraba Residences and the Sirius Building were strong over 2020, particularly in the owner-occupier market.

Savills Australia's director of residential site sales Stuart Cox says he anticipates 2021 being their biggest year on record.

"The residential market is set to bounce in a very positive direction," Cox says.

Cox suggests 2021 has all the ingredients for a rapid recovery for the residential market, with record low interest rates, government grants and incentives and the winding back of restrictive lending obligations which will make it easier and quicker for owner occupiers and investors to get a loan, once it comes into effect in March 2021.

“House and land developments experienced a huge resurgence during 2020 as developers took advantage of the various Federal and State stimulus programs currently available which were introduced to keep the construction industry going through the pandemic, these measures are expected to continue to strengthen the demand for house and land developments well into 2021," Cox says.

Cox said his team is still experiencing significant interest from well-established local Asian developers with strong offshore backing for sites in excess of $50 million that can provide scale and access to rail networks.

“Looking ahead to 2021, there are a significant number of sites already signed up and set to hit the market towards the beginning of 2021, with site values ranging from $10m to over $100m, located across of Sydney.

"We anticipate 2021 being our biggest year on record as the residential market is set to bounce in a very positive direction."

 

 
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Residential developers eye quick recovery in Sydney as development sites get snapped up

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The two level harbourfront penthouse in the Elizabeth Bay 1962 strata block Billyard Gardens has been sold.

The two storey space at 19/8-10 Billyard Avenue was designed by Alexander Michael in the Billyard Gardens complex.

With striking entry foyer of Pietra Grey marble floors, the apartment has three double bedrooms with built-ins, and three designer bathrooms.

There is triple garaging, plus shared harbour pool and jetty.

“After 300 days we finally sold this for a very respectable record breaking price,” said Ballard Property selling agent Paul Elphron. It was a record price for an apartment in a 1960s strata, he advised, without a price disclosure. 

The vendor was Forager Funds chief Jeff Weeden and his partner Gareth Bowler who bought it nine years ago for $4.7 million.

Ballard’s Paul Ephron and Clint Ballard had double-digit expectations which were achieved.
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The two level harbourfront penthouse in the Elizabeth Bay 1962 strata block Billyard Gardens has been sold at a record price for the era.



Billyard Gardens, Elizabeth Bay penthouse sold for record price

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Brisbane architect-turned-developer Joe Adsett and his development partner Craig Purdy are teaming up again for Arcilla, their latest project in New Farm.

The pair submitted plans to the Brisbane City Council shortly before Christmas to create a new five storey apartment block at 28 Maxwell Street, not far from their recently completed and sold out project Botanic on the nearby Sydney Street.

They paid $4 million for the 845 sqm Maxwell Street site which homed an original four storey apartment block.

Adsett has designed a five storey block which will comprise eight three bedroom apartments and one four bedroom apartment, which will span the whole of the top level. 

There's been a nod to the Spanish Mission heritage residence Neville Court next door, designed in 1936 by the prominent interwar architects Chambers and Ford.

<img alt="" height="1697" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/28_maxwell_arcilla_2.jpg" width="1200">

The building also prompted the development's name, Arcilla, Spanish for clay. Adsett has incorporated its design aesthetics in to his design, with a sculpted facade and a direct imprint of the Spanish Mission tile.

There will be landscaping on all levels including a green roof. Levels one and will will have bigger open spaces, but each apartment will have a minimum of near 27 sqm of balconies and terraces.

The ground level will feature a communal gym and swimming pool.

<img alt="" height="930" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/arcilla_new_farm_2.jpg" width="1200">

"Arcilla epitomises contemporary classic architecture in the diverse and evolving suburb of New Farm through a refined material palette and sweeping, curved forms," Adsett wrote in the architectural plans.

"The building is enveloped by planting, providing a sanctuary for residents whilst giving back to its surroundings.

"The architectural language of Arcilla is strongly enlightened by the neighbouring heritage place’s arches, colonnades, and lush subtropical gardens.

"Expansive views across the Brisbane River to the CBD are afforded from each balcony and living space which are consciously designed to promote outdoor living.

The town planning assessment said the proposed development has been designed to respond to Brisbane’s subtropical climate and lifestyle.

“All units benefit from a dual aspect and well-proportioned living areas and balconies that create indoor/outdoor living spaces and maximise access to natural light and ventilation.

“The proposal provides a high quality and contemporary architectural design outcome that responds to the continually developing and diverse streetscape of Maxwell Street, while remaining respectful of the materiality and architectural themes of the remaining pre-1947 character of the street."

Purdy and Adsett have combined before, on Botanic New Farm, the 17-apartment development on the nearby Sydney Street (below), which is just getting its finishing touches.

<img alt="" height="938" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/botanic_new_farm.jpg" width="1200">

Every apartment in the six storey building was snapped up quickly upon its launch.

Adsett and Purdy have previously teamed up to create Brick Lane in Teneriffe, the mixed-use residential development positioned on Teneriffe Hill, as well as the Jardin townhouse development in Hamilton.
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Brisbane architect-turned-developer Joe Adsett and his development partner Craig Purdy are teaming up again for Arcilla, their latest project in New Farm

Plans lodged for contemporary New Farm project Arcilla

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The Hemsworth brothers have snappily sold their stunning Malibu base after five years ownership.

The property is in the name of Chris, his wife Elsa Pataky, Liam and Luke.

It sold for $6.28 million (USD$4.9 million) through The Agency.

They had paid $4.42 million in 2016.

The modern home sits on 5050 sqm of land with views of the Pacific Ocean and Santa Monica Mountains.

The four-bedroom, four bathroom estate at 6315 Gayton Place, was built in 1979, spanning 4,612 square feet across an open-floor plan. 

Hemsworth and Pataky previously owned nearby which they bought for US$4.8 million from movie star Paul Hogan, which they sold in 2016 for US$7 million.
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The Hemsworth brothers have snappily sold their stunning Malibu base after five years ownership.

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