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.

Joel Robinson

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.

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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.

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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

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

The enduring appeal of Kew's tree-lined streets and village lifestyle

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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Police are conducting controlled explosions at a Brisbane property after a real estate agent discovered a "chemical stockpile" during an inspection.
The recently vacant <a href="/news">Pullenvale</a> property was being inspected by a real estate agent on Wednesday.
In a detached shed on the property, it is understood the agent discovered drug paraphernalia and contacted the police.
Neighbours of the Red Cedar Road property were forcibly kept away as police assessed a the chemicals.
Acting Inspector Mark Bradford told the Courier Mail that there is a concern when chemicals were kept together, but said the ones on the property were widely available.
Here are <a href="/expert-insights/investing/seven-ways-to-detect-if-your-investment-property-is-being-used-as-a-drug-lab">seven ways to detect whether your property is being used as a drug lab</a>.
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jduke-EHk3XBmHkn

Brisbane real estate agent discovers "chemical stockpile" during inspection

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Construction in Brisbane is on the increase, with the Rider Levett Bucknall crane index reporting 48 cranes on sites around the city.
Meanwhile, Teneriffe, <a href="/news">Newstead</a> and <a href="/news">Fortitude Valley</a> had more than a dozen cranes within four square kilometres.
Master Builders’ executive director Grant Galvin pointed to building approvals as a sign of the growing confidence.
“The industry’s confidence is reflected in total building approvals which had also risen around 25% over the past 12 months to June,” Galvin said.
“It’s interesting to note that 42.5% of approvals in the last 12 months are for multi-unit dwellings, mainly in Brisbane and the Gold Coast,” he said.
The 40,000 dwelling commencements forecast for 2014/2015 is expected to be exceeded, with current 2013/2014 financial year approvals at 37,000.
Premier Campbell Newman said that the construction sector’s strength is good for Queensland’s overall economy.
“Around 223,000 Queenslanders are employed in the construction industry, many more than two years ago and if these trends continue, we’re confident that we’ll see many more jobs created,” he said.
He pointed to the reforming of the planning and development approval systems, and the $15,000 Great Start Grant incentive, as other drivers behind the construction sector.
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Brisbane construction increases, 42.5% of approvals for multi-unit dwellings

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While Queensland’s rental markets are stabilising on the whole, five out of six of the regional markets in the state are still under stress and considered ‘weak’ markets, even with improving vacancy rates in four.
The Real Estate Institute of Queensland’s (REIQ) Residential Rental Survey, taken out across the REIQ-accredited agencies in June 2014, has painted a subdued picture for the six regional markets, and in particular notes high vacancy rates in Gladstone and Mackay.
REIQ acting CEO Antonia Mercorella said that rents had been softening in some of the regional centres, particularly mining areas where fly in, fly out (FIFO) has become the trend.
<blockquote>
"Gladstone’s rental market remains in oversupply, however the level of tenant and investor activity has returned to normal."
</blockquote>
“Median rents from the RTA (Residential Tenancies Authority) continue to soften in Gladstone, Rockhampton and Mackay,” she said.
“Gladstone’s rental market remains in oversupply, however according to local agents the level of tenant and investor activity has returned to ‘normal’ rental market conditions.”
Looking at 12 months ago, Gladstone’s median weekly rents in comparison have dropped significantly. For three bedroom houses, attainable rent is now $150 less, and two bedroom apartments are down by $140.
She noted that a similar situation is being seen in Mackay and Rockhampton.
Townsville is now recording the highest vacancy the region has ever recorded in the history of the survey and local agents have noted that below market rents are putting downward pressure on other rentals. Toowoomba is the only regional area with a positive story, having kept a tight vacancy rate of 1.5%, up marginally from the end of March. It has not been above 2% since December 2011. Here are the figures to know:
Bundaberg Down Weak March 2014: 4.5% June 2014: 4.0% Gladstone Down Weak March 2014: 6.4% June 2014: 5.6% Mackay Down Weak March 2014: 7.5% June 2014: 6.8% Rockhampton Down Weak March 2014: 5.6% June 2014: 4.8% Toowoomba Steady Tight March 2014: 1.4% June 2014: 1.5% Townsville/Thuringowa Up Weak March 2014: 4.7% June 2014: 5.4%
Source: REIQ
For a market to be considered ‘weak’, a vacancy rate of over 3.5% is recorded. For healthy, 2.5% to 3.5% is expected, and for tight anything under 2.5% applies.
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Five out of six Queensland regional rental markets weak, mining towns worst: REIQ

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Queensland’s 10 longest listings have been on the market since 2009, according to SQM Research:
According to data collected by <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>, the state’s oldest listing in Queensland is a unit at <a href="https://www.realestate.com.au/property-unit-qld-north+booval-105928216" target="_blank">38/40 Gledson Street, North Booval </a>which has spent 1,911 days on the market. 
It is currently for sale at $280,000, originally listed at $298,000.
<ul>
<li>38/40 Gledson Street, North Booval — 1,911 days</li>
<li>267 Laceys Creek Road, Dayboro — 1,900 days</li>
<li>78 James Road, Beachmere — 1,801 days</li>
<li>8 Apollo Crescent, Beachmere — 1,801 days</li>
<li>136 Granard Road, Archerfield — 1,741 days</li>
<li>5 Hayden Street, Riverview — 1,741 days</li>
<li>2/199 Queen Street, Cleveland — 1,722 days</li>
<li>36 Patrick Street, Beachmere — 1,715 days</li>
<li>10 Prince Street, Beachmere — 1,673 days</li>
<li>97 Biggs Avenue, Beachmere — 1,645 days</li>
</ul>
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jchancellor-FAypfDUnLy

Queensland’s 10 longest listings all on the market since 2009: SQM Research

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The median price of a house in Brisbane was $475,000 for the quarter to July, according to RP Data.
Brisbane house values were down 0.2% for the month, but increased 6.9% on a yearly basis. The Queensland capital had the third-strongest growth of any capital city in the country for the 12 months to July, behind Melbourne and Sydney.
Many people use median figures to set their price expectations for an area - but what does a $475,000 Brisbane house actually look like? Property Observer looks at the city's recent sales to see what the median price will get you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-qld-mansfield-117265463" target="_blank">84 Pareena Crescent, Mansfield</a> <img src="/images/2014/08/11/1.jpg" alt=""> This three bedroom, two bathroom brick home sold for $477,000 in July. The house sits on a 546 square metre plot in the Mansfield High School zone. Two of the three bedrooms have built in robes, and the open plan living spaces feature pine cathedral ceilings. It was purchased by the vendors for $400,000. Price: $477,000 Bedrooms: Three Drive to CBD: 15 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-mitchelton-117290463" target="_blank">49 Glen Holm Street, Mitchelton</a> <img src="/images/2014/08/11/2.jpg" alt=""> Late last month, a three bedroom, one bathroom house secured $473,000 when sold in late July. The single storey home has built in wardrobes in all three bedrooms and the kitchen and dining area opens onto a covered entertainment area. The house is set on a 405 square metre block. Price: $473,000 Bedrooms: Three Drive to CBD: 15 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-deagon-116916459" target="_blank">60 Station Road, Deagon</a> <img src="/images/2014/08/11/3.jpg" alt=""> Another three bedroom, one bathroom house sold around Brisbane's median price last month, with this Deagon home attracting $482,500. The home has open plan living and dining areas, with an open fireplace and 10 foot ceilings. The home sits on a 450 square metre parcel, with a utility room and workshop tucked in the downstairs area of the house. Price: $482,500 Bedrooms: Three Drive to CBD: 25 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-keperra-117324855" target="_blank">45 Hermitage Street, Keperra</a> <img src="/images/2014/08/11/4.jpg" alt=""> This low set brick home has four bedrooms and one bathroom, selling for $475,000. The home's newly renovated kitchen, with the listing information stating that it was "barely used", separates two living areas. Set on a 628 square metre parcel, the home also includes a two car lockup garage. Price: $475,000 Bedrooms: Four Drive to CBD: 19 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-qld-jamboree+heights-116682875" target="_blank">Jamboree Heights</a> <img src="/images/2014/08/11/5.jpg" alt=""> A three bedroom, one bathroom house 14 kilometres south-west of the Brisbane CBD sold for $469,500. The house, set on a 589 square metre block, backs onto council-maintained parkland. Outside, there is an entertainment deck and in-ground pool, while the backyard has direct gated access to the park. Price: $469,500 Bedrooms: Three Drive to CBD: 17 minutes</li>
</ol>
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jrichardson-uRX5hFdKfN

What does a median-priced house in Brisbane look like?

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The residential land market in South East Queensland is showing signs of a recovery in what would be the first green shoots for the area since the Global Financial Crisis, according to Ray White Commercial head of research Vanessa Rader.
Developers are set to benefit, with improvement in the market on the back of steady pricing and availability of finance.
“The demand for housing declined after the GFC due to more stringent lending criteria,” Rader’s Between the Lines, SEQ Residential Land Report explained.
“But we are now seeing the South East Queensland region’s first period of increase with areas such as the Gold Coast, Sunshine Coast and Logan City all experiencing a significant rise in lot registrations and lot production,” she said.
The low interest rates, favourable lending conditions and growing demand for residential property has Rader suggesting that an increase in lot registrations and strengthening lot sales will be seen in the next few months.
Over the past year, an increase in sales transactions has had an impact on vacant lot sale values as well in the area.
“The low in the market recorded in 2012 is now behind, with 2013 showing the first period of increase,” she said.
“Looking at each of the regions, Gold Coast is showing a strong comeback increasing lot production by 48.37 per cent in the year after being one of the first regions to decline supply.”
Over 35% growth in registrations across the year for the Sunshine Coast has also been seen, which she attributes to increasing consumer confidence and a stronger local economic climate.
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South East Queensland land market picking up for first time since GFC

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Developer Sunland Group has purchased a 4.7 hectare urban renewal site at Palm Beach on the Gold Coast for $18.4 million.
Sunland managing director Sahba Abedian said it would start on medium rise construction in early 2015 at the Palm Beach Mobile and Tourist Park on the Gold Coast Highway.
The Palm Beach development will comprise 162 luxury apartments in buildings under nine stories and 86 town homes.
Mostly targeting owner-occupiers, the town homes will be priced from around $600,000 and the apartments from around $500,000. 
It was sold by the Pryke family for the past four decades since costing $300,000 in 1973. 
It will close in August following the sale through Darrell Irwin of Colliers International.
The Palm Beach project follows a strong sales by Sunland at its latest medium-rise Gold Coast project, the Marina Residences at Royal Pines.
Sunland, developer of the Q1 superpower, had its last foray in the southern Gold Coast at The Parc residential community adjacent to John Flynn hospital, which was completed about four years ago.
The Palm Beach project brings to about $1 billion the value of new development projects planned by Sunland for the Gold Coast, including a major $350 million redevelopment planned for Mariners Cove at the Southport Spit that has yet to be revealed.
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Palm Beach, Gold Coast mobile home site sells to rejuvenated Sunland

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If you’re a property owner in Cairns, then you must be prepared for the G20 Finance Ministers Meeting next month, according to Archers Body Corporate Management’s North Queensland regional manager Stephen McCulloch.
This is particularly the case for those in the CBD, usually unit owners, who will be facing increased security, traffic and some restrictions.
However, McCulloch said that Cairns residents will not face quite as many inconveniences as Brisbane from their G20 meeting.
“While the impact on the city will be minimal for the Finance Ministers’ Meeting compared to the G20 Leaders Summit in Brisbane, we are encouraging all residents to just be prepared and keep in mind that it won’t be a typical weekend,” he said.
“Now is the perfect opportunity for all residential complexes, especially those around the CBD and Cairns Convention Centre, to review security, Work Health and Safety and emergency procedures to ensure everything is up-to-date.”
Here are their four tips for residents in the lead up to the meeting:
<ol>
<li>Take this opportunity to review complex policies including security, insurance, Work Health and Safety and emergency procedures to ensure everything is current in the unlikely event of an emergency.</li>
<li>Plan travel carefully for the duration of the conference – traffic will be heavy around the Cairns Convention Centre and there will be some restrictions so keep in mind that there may be some non-typical delays to your travel.</li>
<li>Monitor parking at your complex – if you don’t have a controlled or secure car park it’s a good idea to consider hiring a security or parking officer to keep across parking issues that might arise from the influx of traffic such as unauthorised use of your parking areas.</li>
<li>Be aware but not alarmed – visible security will be tighter in the city and around the conference vicinity. Police presence is expected to triple for the event as an extra 700 police officers move into the city so residents shouldn’t be concerned if they see extra police and security around.</li>
</ol>
Source: Archers Body Corporate Management.
Picture public domain.
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Four tips to help Cairns property owners prepare for G20

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The Real Estate Institute of Queensland believe that Brisbane is preparing for its first consecutive sales increase in more than two decades for the June quarter.
Unusually robust winter sales are a sign the market is gathering momentum, explained REIQ acting CEO Antonia Mercorella.
<img src="/images/2014/07/28/graph%20july%2028%20one.jpg" alt="">
“Brisbane is set to record its first consecutive increase in June quarter sales since 1991-92,” said Mercorella.
“Traditionally this is one of Brisbane’s quieter selling periods but there has been a reversal of that trend over the last two years, as buyers grow more confident.”
She said that in fact demand is so strong that a shortage of stock is being reported across Brisbane. Sales growth of almost 10% was recorded  in the June 2013 quarter.
“Sales statistics haven’t been finalised for the current June quarter, but they are looking very encouraging,” she said.
Price growth is also being seen in Brisbane, with RP Data recording them as up 6.8% on 2013.
“Despite this growth, Brisbane still has a very significant affordability edge over Sydney, Melbourne and Perth where median prices remain much higher,” she said.
“With interest rates still at record lows, the outlook for Brisbane real estate is very positive and buyers can expect the market to continue performing strongly.”
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Brisbane on track to record consecutive quarter sales increase for first time in over 20 years

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Brisbane's median house price increased by 6.9% in the year to June 2014, according to new data from Australian Property Monitors.
On a quarterly basis, Brisbane's median house price rose by 1.5% - the eighth consecutive quarter of price growth for the city. The city exhibited the third highest quarterly and yearly rate of growth of any capital cities (behind Melbourne and Sydney).
The median house price of $477,352 is a record high for Brisbane, eclipsing its June 2010 peak. However, the figure is still below the national median of $627,940. Australian Property Monitors' results show that Brisbane's house market is the third cheapest in the country, with only Hobart and Adelaide having lower median house prices of $329,186 and $462,129 respectively.
Andrew Wilson, senior economist for Australian Property Monitors and the Domain Group, said the Brisbane housing market is "gathering momentum".
"Over the June quarter, the Brisbane median house price increased by +1.5% - a similar result to the +1.8% growth recorded over the March quarter," said Wilson.
"Having finally recovered from its previous price peak recorded in June 2010, the Brisbane median house price is now at a new record level of $477,352. Brisbane house prices increased by +6.9% over the year ending June which was the highest annual result for the city in four years."
Those <a href="/news/qld/brisbane-should-you-be-looking-at-a-house-or-unit">considering a unit or house in Brisbane </a>will note that rather than increasing, Brisbane unit prices actually decreased on a yearly basis, by 0.7%. The median price of a unit in Brisbane is now $364,641. In the quarter to June, the median unit price increased by 0.8%.
<img src="/images/2014/07/24/apm-chart-july-24-one.gif" alt="">
<img src="/images/2014/07/24/apm-chart-july-24-two.gif" alt="">
Source: Australian Property Monitors
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