<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

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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One of the largest industrial properties within Brisbane's western corridor has been listed for sale with a leaseback from the vendor Hills Ltd.
The 17,455 square metre industrial facility, at <a target="_blank" href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-richlands-501029711">70 Fulcrum Street</a> in <a target="_blank" href="/news">Richlands</a>, is being sold with a leaseback until 30 June 2015.
An expression of interest campaign is being led by Tim Armstrong, Mark Clifford and Greg Russell of Knight Frank.
Knight Frank’s Industrial Director, Mark Clifford said that the property’s position within a prime and tightly held location would be particularly appealing in light of Brisbane’s lack of opportunity of scale.
"Land supplies particularly in the south/west precinct of Brisbane continue to shrink", Clifford said.  "Radius Industrial City at Larapinta, Southlink Estate at Parkinson and Metro West Estate at Darra are close to 100% occupied.
"The recent deal with DB Schenker at Goodman’s Redbank Estate also highlights the quality of the Western Corridor as a location."
 news@propertyobserver.com.au
 
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One of Brisbane's largest industrial complexes listed with leaseback

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Luxury apartment complex, Evoque, in Queensland’s Kelvin Grove, is offering body corporate fees at $1,463 per annum as a selling hook for the development, with no gym and no pool offered.
The low rise development, consisting of two buildings with 10 apartments in each, has been designed in a way to avoid elevators and has not included amenities commonly seen in apartment blocks such as pools to keep the body corporate fees lower than other local complexes.
Considering body corporate fees are one of the much checked factors by those considering buying off the plan, this might just be a good strategy as investors remain wary of the fees eroding their return. Property Observer previously wrote about<a target="_blank" href="https://www.propertyobserver.com.au/landlords/low-rise-units-a-better-option-for-first-time-investors-than-high-rise-wbp/2012031953895"> low-rise being preferred over highrise due to the ability to fees and scarcity</a>. Similarly, excessive body corporate fees are regular headline-grabbing events in the property press, with <a target="_blank" href="https://www.propertyobserver.com.au/news/the-block-sky-high-buyers-face-%242234-quarterly-body-corporate-levies/2013072763595">The Block Sky High seeing buyers facing $2,234 a quarter</a> for the first year in body corporate fees.
<a target="_blank" href="/news">Kelvin Grove</a>, a northern Brisbane suburb, has a median unit price of $500,000, according to RP Data, with a 9.5% change in the median price over the past year. Median asking rent is around $435, representing an indicative gross rental yield of 4.5%.
Harcourts Solutions Inner City's Bridget Gabites said that the developer believes that in most complexes the pool and gym are rarely used, and therefore decided not to include them. Instead, there's a shared green space.
“What this means is very inexpensive body corporate costs, with only building insurance, administration and basic maintenance costs to service,” said Gabites.
While homeowners frequently desire the amenity of pool inclusions, many investors are not interested in the features, often seeing them as more of a benefit to the tenant than to their investment.
The 20 apartments are also said to be easier to increase rental returns due to less competition within the complex.
“In larger complexes rentals are priced competitively against others available in the complex, therefore often reducing rental return under heavy competition,” she said.
The apartments are also pet-friendly, and start from $368,000 for a one-bedroom, one-bathroom home with a car space. Two-bedroom apartments with a courtyard start from $495,000.
Value for money, particularly when comparing cost per square metre to other local apartments, is another hook being used to attract investors.
“The price per square metre of Evoque apartments starts at $5,456. When comparing this to similar developments in the area, the price per metre is $6,694,” she said.
One apartment in the complex, a 64 square metre courtyard apartment (one of just two with this feature) with two queen-sized rooms, built in robes, open plan living/dining and a carspace, was <a target="_blank" href="https://www.realestatebrisbanenorth.com.au/kelvin-grove-51-gibb-street-by-bridget-gabites">advertised for price negotiation over $495,000</a>. It is 132 square metres (including courtyard) and includes airconditioning.
Located at 51 Gibb Street, and offering access to a hospital, university, CBD and Kelvin Grove Urban Village, it’s also near a school.
The construction is now due for completion in March, although previous suggestions had been for a late-February completion date. In December 2013, four of the apartments were under offer.
<a target="_blank" href="https://www.propertyobserver.com.au/news/kelvin-grove-to-welcome-cs-development-s-third-project-victoria-park-residences/2013110766233">Another development in Kelvin Grove, CS Development Group’s third apartment project</a>, called 'Victoria Park Residences', features 118 one- and two-bedroom apartments on a 4,000 square-metre site. The development includes a pool, sundeck, barbecue facilities, gym and outdoor workout zone.
It includes one-bedroom apartments ranging in size from 68 square metres to 79 square metres, priced from $343,000, and two-bedroom apartments ranging in size from 83 square metres to 105 square metres, starting from $469,000.
jduke@propertyobserver.com.au
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
Images are artist impressions.
 
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No gym and no pool a selling point for Kelvin Grove’s Evoque

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The population figures of Pimpama “virtually doubled” between 2007 and 2012, according to the Gold Coast City Council, as the largest masterplanned community in the Gold Coast is underway by Mirvac.
With sales increasing at <a target="_blank" href="https://www.gainsborough-greens.mirvac.com">Mirvac’s Gainsborough Greens</a> in <a target="_blank" href="/news">Pimpama</a>, and a $30 million <a target="_blank" href="https://pimpamajunction.com.au/">Pimpama Junction Shopping Centre</a> is near having all the stores tenanted with opening expected mid-year, the rapid growth is expected to continue. With Visit Gold Coast noting it to be the "last" truly rural area left on the Gold Coast, it's unclear whether this status is set to remain for long.
{qtube vid:=PVKhkCCXLcA}
Halfway between the Gold Coast and Brisbane, on completion there will be more than 2,200 homes, including over 15 hectares dedicated to community-focused fields, such as sporting ovals. Within the development, 65% is dedicated to greenspace, with no home more than 300 metres of a park, playground or recreation area - with 17 parks on completion. The heart of the development is the currently existing 18-hole Golf Course. Community managed environment. Recreational facilities - swimming pools, tennis courts, gymnasium
Tipalea Partners, developers of the shopping centre, has six of the 21 retail spaces remaining in the centre, with tenants seeing the handover in May for fitouts. Trading should begin in mid-June.
Tipalea Partners’ managing director Scott Spanton said that they had initially planned to sell the asset once it was fully leased.
“However, we have decided to retain it as a key investment asset for the company going forward,” said Spanton.
“The amount of growth that has occurred in the corridor since we acquired the land in 2009 has been quite amazing and we believe that level of growth has a significant way to go," he said. Hutchinson Builders won the tender in May 2013.
A Woolworths Supermarket and 20 speciality tenancies will be in place, in what will be the only significant retail centre east of the M1 and north of the Coomera River.
Some of the tenants currently in the speciality shops include a pharmacy, Sushi Ho Ho, Brazilian Café, BWS, a medical and dental centre, My Barber, Hair Rocks, Bargain Mania, Zaza Kebab, Pimpama Bakery, Noodles, a Chinese restaurant, and Westpac and Suncorp ATM machines.
A real estate agency is being sought for tenancy, as are a pizza outlet, fish and chip shop, Indian restaurant and a major bank.
The state government has fast-tracked plans to build a new primary school, on Cunningham Drive North, for January 2015, a year ahead of schedule.
Gold Coast City Deputy Mayor, Donna Gates, said that building approvals in the area are up considerably, with renewed confidence after stronger tourism numbers were recorded this holiday season.
"Pimpama has already been confirmed as the future site for a district sized shopping centre and the new primary school, which will be adjacent to Pimpama State Secondary College, which opened last year, will provide further infrastructure to cater for this growth,” said Gates.
Meanwhile, Mirvac Queensland development director – masterplanned communities, Russell Berlee, said that there are already contracts on 65% of the homesites in the latest release – registered in late-November.
"In the last quarter alone we took 74 deposits, worth a combined total of just over $17 million," said Berlee.
"Interest in Pimpama is at an all time high, with buyers attracted by the location - mid way between the centre of the Gold Coast and Brisbane - the rural outlook, the amount and quality of new development underway and, at the same time, the relatively affordable prices,” he said.
Over the past three months, the majority of building approvals have been for home and land packages. Those priced between $420,000 and $470,000 have been especially popular with families and first time buyers.
Higher end demand is also said to be increasing, particularly for those fronting the Gainsborough Greens gold course – priced between $650,000 and $700,000.
Pimpama is home to Australia's only Zorbing outlet. It is 45 minutes' drive from Brisbane airport.
jduke@propertyobserver.com.au
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Gold Coast's largest masterplanned community underway

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There has been an announcement that the Aquis resort will be delayed for a year.  It still hasn't been approved by the state and local governments and it seems that the sticking point is the approval of the standalone license for the casino.  Getting a project this big approved and started within a year of the announcement was always going to be ambitious.  I think we will hear more over the next few months.  I personally think it will go ahead, and if nothing else, it has been the catalyst for the turn in the Cairns economy and confidence.  
For the past few weeks I have been doing some research for a few buyers.  I have to tell you that the market has well and truly turned.  You can still find a good buy, but they don't hang around long.  You also will be paying more for them than you were even three months ago.  To find a good two bedroom unit under $120,000 is near on impossible, yet before Christmas we had three that were purchased by investors for under $100,000.  
It is not often that I get the crystal ball out, but today I will make an exception.  Before I make my predictions I will go into some back ground information as not everyone has been following Cairns as much as we have.  
Cairns is a relatively new city and most of the building happened in three distinct phases.  The first was in the areas close to the city and <a target="_blank" href="/news">Edge Hill</a>. This would have happened in the very late 1970s and early 1980s.  The unit blocks that were built were either single level or two storey.  They tended to be in smaller blocks and I will guess that at this time there were a lot of duplex pairs that were built.  
The next building phase was between 1988 - 1995 and this was your bomb proof but certainly not pretty developments.  This includes the houses you will find in White Rock, Woree and Brinsmead to name a few.  These were constructed with besser blocks and most of them finished to a budget finish - the besser blocks weren't rendered internally or externally, the kitchens and bathrooms were basic in design and fit out and the fixtures and fittings were cheap.  
The unit developments of this era were mainly in the 5 kilometre CBD circle. This is up to <a target="_blank" href="/news">Edge Hill</a>, around to <a target="_blank" href="/news">Whitfield</a> and south to <a target="_blank" href="/news">Woree</a>.  There were some developments at the northern beaches and some further south down to <a target="_blank" href="/news">Edmonton</a> but the bulk were in the <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> and Whitfield area.  These were up to a maximum of three stories high.  The size ranged from a simple four pack up to 45 units.  There were also some duplex pair developments that were done, but if they could squeeze more onto the block - they did.  
The last building phase happened between 2003 - 2008.  This was cut short by the GFC - it literally ground to a halt overnight and the rest is history.  These developments were nice and on a much bigger and grander scale.  We had the development along the northern beaches, the Esplanade in the City and other inner city suburbs.  We also had the mega developments like The Lakes and Cairns One.  Housing was also on a much grander scale and to a much higher specification.  There were very few small developments and even fewer duplex pairs.  I guess the economies of scale just weren't there.  
Article continues on next page. Please click below.
 
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During the rise of the last property cycle, the units that were built in the first and second building phase were pretty much bundled together and sold for about the same price.  Obviously there were slight differences for location and fit out but generally this would be the price near the peak of the market in 2008  
Studio spartments - $80 - 100,000 - these is the really small ones at Chester Court, Jensen Street and even the motel style units at Anderson Road
Bedsit units $110 - 115,000 - this is the type that can be found at 85 Birch, 93 Birch and 55 McCormack Street.
One bedroom units - $150 - 170,000 - the better the presentation the better the price.
Two bedroom units - $220 - 240,000 - I know it is difficult to believe but you really couldn't buy a crappy one for $200,000
Duplex pairs - $500,000 plus.  Yes these are the same duplex pairs I wrote about recently that if you shopped around you could buy for $400,000 and under.
Houses - $300,000 plus.  This would be for a basic three bedroom, one bathroom home in the not so good areas.  
Now to put this into context for today market as it stands right now  
Studio apartments - $40,000 if you hunt around you may even get one lower.
Bedsit units $85,000 - potentially there is $30,000 if the market goes back to just 2007 prices
One bedroom units - $90 - 120,000 - these have dropped but not as badly as the two bedroom units.
Two bedroom units - $95 - 140,000 - if they just go back to 2007 prices there is potentially $100,000 capital gains to be made.
Duplex pairs - $350 - 400,000 - these have gained $50,000 in price since we started tracking them 18 months ago. The fact there are so few pairs around will see the prices go up quickly.
Houses - $250 - 300,000 - this is for your basic home in <a target="_blank" href="/news">Woree</a>, <a target="_blank" href="/news">White Rock</a>, <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> etc.  These too have gained ground in the past six months.  You had your choice of houses about six months ago for $250,000 and under.  To find a good house with two bathrooms for under $300,000 is nearly impossible now.  You can find a three bedroom, one bathroom for under $300,000 and these are still worth looking at if this is your strategy.  
The fact that we haven't had any building in seven years, the economy is getting better, the vacancy rate is low and the rents are increasing are all positive factors.  The fact that interest rates are at historical lows is another bonus.  
The game changer is Aquis and the other projects that will follow on.  This will put further pressure on rents and when the investors start to come out and see the prices compared to the achievable rents, they will take notice and start buying.  I am already seeing this now.  I am dealing with more buyers now than I have dealt with all 2013 put together.
I know that some will say that the body corporate levies will put the investors off.  For this example I will use Palm Tree Apartments.  There are 44 units in the complex.  Before the huge insurance increases came in the premium was $6000.  The premium we just paid in May was $32,500.  
For the bedsits they used to pay $93 per year and now they pay $508 or an increase of $415 per annum, or $8 per week
For the two bedrooms they used to pay $186 and now they pay $1016 or an increase of $830 per annum, or $16 per week.  
I know that the other outgoings have also increase, landlords insurance, council rates and water charges - but these haven't been as high.  For this case I will use a bedsit unit.  At the peak of the rental market the highest we achieved was $155 per week.  We are now consistently renting them out for $175 per week and this is set to increase as the rental market continues to tighten.
Linda Tuck is director of <a target="_blank" href="https://www.plrealty.com.au/index">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
                   
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Cairns market has well and truly turned and new developments could be a game changer

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Wilston, located 3 kilometres out of Brisbane’s CBD, is a small prestige suburb with a recovering market. Sandwiched between Newmarket and Windsor and bounded at the south by Enoggera Creek, the suburb has a population of 3,872 people, according to the 2011 ABS census.
Kedron Brook Road, Wilston’s main retail strip, has seen significant redevelopment in recent years, pre-empting Brisbane’s urban renewal project.  The suburb is serviced by buses, and trains at Wilston Train Station. It is also close to the Royal Brisbane and Women’s hospital.
Wilston contains a mix of new units and older “Queenslanders”. According to Andrew Wilson, senior economist at Property Monitors, the suburb's strongest growth over the last 12 months can be seen in its mid-range properties.
"The median price in Wilston is around $800,000, making it a prestige inner-city suburb. But in the top end of the market, while there's been some signs of revival, it's certainly been patchy," he said.
"The homes in the $500,000 to $600,000 band have been doing well in the last year, after some weakness from the year before."
Ray White Wilston principal Alistair Macmillan agrees that the suburb's prestige homes have seen a downturn in recent years.
“Post-GFC we have experienced a lot of prestige buyers exiting the market. This meant that home owners wanting to sell were experiencing very little interest and offers, often resulting in homes being sold well under owners expectations,” he said.
“Over this time frame we saw a lot of homes on the market with very few selling. From 2008 to 2013 we have seen very little change in the median sale price, ranging from $400,000 to $500,000. The main reason for this was the lack of prestige homes that were sold, unlike the height of the market in the early 2000's where we say the median price increase to well over $1,000,000.”
But according to Macmillan, the prestige market has been strengthening over the last year. The buyers he encounters are mostly young families with professional occupations, drawn to the suburb's schools.
“The most encouraging signs recently have been a large number of homes selling over the past 12 months in the higher price ranges showing an increase in buyer confidence in this prestigious market.
“Over the past year there have been 9 homes sold in Wilston over $1,200,000, with the most number of sales being homes from $700,000 to $800,000. This is a great sign of consumer confidence not only in real estate but Wilston in particular. Last year Ray White Wilston sold the highest priced property on a 405 square metre block, which was $2,020,000.”
However, Wilson says that he is yet to see evidence of a sustained revival of the top end of Wilston's property market. 
"There's no sign of a sustained revival of prices in the prestige market," he said.
According to Wilson, Wilston's overall market will be seeing growth in later years. 
"Wilston's revival will happen at the later stages of Brisbane's momentum, once the market is up and running. We'd have to see a strong revival in the state's economy, which is on the cards. The trend will be up - but not quite yet."
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Suburb Spotlight: Wilston, a recovering market

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of February 8. <a target="_blank" rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

po-LsXgBTHBmX

APM's Brisbane auction results for February 8 weekend

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It has been an interesting start to 2014. Traditionally we get quite a few tenants vacating in December.  This happened to a fair bit and if we don't have these properties re-let by mid to late December, the chance of reletting them drops each day.  Between the December 20 and the first business day back from New Year there is a very remote chance someone will be wanting to rent a property out.  

Traditionally on the first business day back from New Year there is a huge demand from people looking for rental properties.  We have a large number of people moving to Cairns for the start of the year - teachers, doctors, nurses, police, university students and TAFE students to name a few.  
We were back in the office for this when the phone simply didn't ring for the first week back - I started to worry.  
If you did a search for all available rentals in the Cairns greater region mid to late 2013, you would have found between 550 - 650 available rentals.  This covers an area from <a href="/news">Gordonvale</a> up to <a href="/news">Palm Cove</a>.  It also includes all rentals from a small budget studio, right the way up to an executive home.  For the first few weeks of January this figure was just over 900 or a 50% increase.  It has now gone down to 890 but it is still much higher than what we had prior to Christmas.  
We had a unit that became available just before Christmas.  It is small, but it is a really nice unit.  We have repainted it internally, had new lights and fans installed, new curtains and the furniture upgraded.  It presents really well. It has a kitchen with an upright stove, a fridge and even a washing machine in the bathroom.  These are really popular with people that are on a budget and don't want to share.  We were easily renting them out for $175 per week last year.  This particular unit sat for weeks without any one even asking to inspect inside.  I dropped the price to $170 per week and in four weeks we had a total of two inspections.  Fortunately a lovely Korean couple has taken it, but it was bringing back memories of the barrel which I just don't want to get back into.  
The level of enquires was lower but the "trash element" was so much higher.  It was not restricted to just this budget property, it went right the way through the available rentals.  Fortunately we have managed to clear most of the vacancies and just have a few left.  
I am hoping it is a combination of a few factors:  
<ul>
<li>
Christmas and New Year left over quiet phase
</li>
<li>
Wet season down time - it has been incredibly hot and humid
</li>
<li>
Brewing cyclone off the coast - this sent things quiet all this week
</li>
<li>
Later start to the year - school and contracts seem to be starting at the end of January rather than the traditional early part of January.
</li>
</ul>
Although we have dropped the rents slightly, they are still at higher levels than they were 12 - 18 months ago.  This is assuming that the property presents well internally.  I can't tell you how often the potential tenants tell us that the other properties they have seen are just awful - particularly when they walk into one of ours that presents well. 
This is going to be a key part of getting and keeping good tenants in 2014.  It is also crucial for us to be able to get higher rents.
Linda Tuck is director of <a href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region. 
 
<hr>
 RELATED ARTICLES:
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/slow-start-to-the-year-for-cairns-local-market-update/2014021267563?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Cairns market has well and truly turned and new developments could be a game changer</a> by Linda Tuck
Suburb spotlight: Cairns enjoying low vacancies
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Slow start to the year for Cairns: Local market update

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Queensland’s central Logan area has once again jumped onto the radar as a potential hotspot, with some developments apparently holding a waiting list for prospective tenants due to the low vacancy rate, and a generally low supply for new stock.
<a href="/news">Marsden</a> and <a href="/news">Browns Plains</a>, in <a href="https://www.propertyobserver.com.au/queensland/suburb-spotlight-logan-investor-activity-surges/2013112466554" target="_blank">Logan</a>, with vacancy rates of sub-2%, have median prices around $300,000 and rents that can bring in up to $240 per week.
In our suburb spotlight on Logan late last year, Australian Property Monitors’ Andrew Wilson warned investors about this area.
"It’s always the ‘curse’ of the hotspot. By saying it’s a hotspot, there could be an overshoot of fundamentals. Gladstone was the flavour of the month, now the direction’s moving to Logan," Wilson said.
"Investors should beware of the ‘hotspot’. What goes up quickly comes down quickly as well," he warned.
Developments such as <a href="https://mintthomes.com.au" target="_blank">Mintt on MaCarthy in Marsen</a> and <a href="https://www.thepromenadeqld.com.au/" target="_blank">The Promenade in Brown Plains</a> (pictured below), are both said to have waiting lists with all currently built and sold properties fully occupied, according to official marketing material. The next stage of properties is apparently being rushed forward to meet demand, seeing rental rates rising above the median.
{yoogallery src=[images/stories/2014/02/04/log]}
Photo: The Promenade in Brown Plains
Urban Development Institute of Australia president (Gold Coast and Logan), David Ransom, said that the Logan corridor is often underestimated as a potential growth area in south-east Queensland.
"A lot of the focus is generally on Brisbane and the Gold Coast, but Logan has plenty to offer in its own right, with its position between two major markets, a growing economy and a solid pipeline of development - including the two new major cities of <a target="_blank" href="/news">Yarrabilba</a> and Greater Flagstone which will help cater for future population growth," Ransom said.
"The Logan region broadly has a lower median house price than its neighbouring cities, which makes it an attractive area for investors and young families looking for an affordable opportunity to position themselves at the centre of south-east Queensland's growth corridor."
However, this isn’t necessarily a brand new hotspot opportunity. Property Observer remembers discussions of Logan being the next area to buy, with some likening it to <a href="https://www.propertyobserver.com.au/new-south-wales/suburb-spotlight-mount-druitt-may-retain-hotspot-label/2014012167284" target="_blank">Sydney suburbs in Blacktown and around Mount Druitt</a> for high yields.
In fact, in October 2012, <a href="https://www.propertyobserver.com.au/queensland/logan-central-tops-list-of-brisbane-suburbs-with-top-unit-yields/2012102857466" target="_blank">Logan Central topped the list for the highest yielding units across Brisbane</a>.
We also featured a debate about this area, with <a href="https://www.propertyobserver.com.au/queensland/brisbane-tipped-for-growth-but-jury-out-on-best-location/2013090564807" target="_blank">Right Property Group’s Victor Kumar calling Logan undervalued due to stigma</a>, presenting good opportunities for buyers. Propertyology’s Simon Pressley, however, said that he does not invest there and considers it for more ‘unsophisticated’ investors.
The Promenade at Browns Plains has 120 three-bedroom townhouses, of which half have been completed and tenanted. The final release sees prices starting from $337,900.
Meawhile, Mintt on MaCarthy, in Marsden, has 20 completed and tenanted three-bedroom townhouses in stage one and 12 in stage two that are currently selling. These are priced from $336,900.
Both feature pools, barbecue areas, playgrounds and on-site managers.
jduke@propertyobserver.com.au
 
 
 
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Logan catches attention as ‘hotspot’, but has the boom passed?

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According to the Real Estate Institute of Queensland (REIQ), vacancy rates are up across most of the state as the sales market picks up.
The vacancy rate in the Brisbane City local government area was at 3.2% at the end of December, up from September’s 2.3%, displaying “healthy levels of supply and demand”, according to the REIQ. The highest quarterly increase in the vacancy rate was recorded in inner Brisbane (suburbs within 5 kilometres of the CBD), which climbed 1.7 percentage points to 4.1%.
According to REIQ chairman Rob Honeycombe, new developments in Brisbane’s inner suburbs may have led to a slight oversupply of rental stock, while a decrease in interest from tenants is typical of the final quarter of the year.
“At end of the year we generally experience lower tenant demand as residents vacate for work transfers or the end of the university year. From mid-January, demand increases again as tenants begin their search for their new property,” he said.
The REIQ Residential Rental Survey was conducted in December across all of the state’s REIQ accredited agencies. Across the greater Brisbane area, about 40% of agents surveyed reported that investor activity had increased, but demand from tenants had remained strong, allowing vacancy rates to remain low.
The REIQ survey data shows that regional Queensland’s mining towns are experiencing substantially higher vacancy rates. Gladstone agents surveyed noted a surplus of rental property, with the Gladstone vacancy rate at 7.7% at the end of December. In September 2013, the vacancy rate in Gladstone was recorded as 5.8%, while it sat at 2.1% in December 2012.
Mackay also recorded a vacancy rate of 7.7%, due to a combination of oversupply and job losses. September’s vacancy rate for Mackay was at 5%. REIQ agents reported low application numbers for rental properties, with properties taking more than four weeks to fill.
However, conditions were favourable for landlords in Toowoomba, where a vacancy rate of 1.3% was recorded for December. Vacancy rates were also low in the Gold Coast, with a decrease of 0.4 percentage points since September, and the Sunshine Coast, where vacancy rates were down 0.3 percentage points.
Honeycombe noted that Queensland’s rental market has performed well in recent years, especially in comparison to the sales market.
“Over the past few years, it has been the rental sector which has been the better-performing segment of the market,” Honeycombe said.
“Now while the sales market returns to healthy levels of activity after a period of subdued volumes, the rental market is experiencing a slight easing of vacancy rates after a long period of tight rental conditions.”
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
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Queensland’s rental market easing: REIQ

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It’s cyclone seasons for some unfortunate residents in Australia; however, the recovery process can be smooth for those who are prepared.
Archers Body Corporate Management North Queensland regional manager, Stephen McCulloch, said that more than 75% of their clients between <a target="_blank" href="/news">Townsville</a> and <a target="_blank" href="/news">Airlie Beach</a> would be in some way affected.
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The rebuilding and repairing process, as well as navigating insurance, will be the challenge for those ahead, said McCulloch.
“Insurance and the cost of repair has been a big issue for unit owners and bodies corporate in North Queensland since Cyclone Yasi,” he said.
“Depending on the type of body corporate, most policies will cover the structure of the building including internal fixed cupboards and walls but will normally exclude cover for carpets and air conditioners.”
Some policies may exclude flood cover, he noted, unless your body corporate chooses to include it. Ensure you check the policy document of your scheme’s insurance so there aren’t any surprises around what is and isn’t covered.
Tips for unit owners and bodies corporate post-cyclone damage: 
1) Act quickly – secure trades people and contractors to repair any damage as soon as possible. 2) If trades people aren’t immediately available, but the damage is urgent, contact the SES or other emergency services. 3) Use emergency provisions within the Body Corporate Act to authorise expenditure where appropriate. 4) Lodge insurance claims quickly to ensure any necessary assessment is carried out as soon as possible and refunds are received expediently. 5) Communicate with owners and occupiers in the complex, clarify the extent of the damage and what actions are underway, provide updates regularly and encourage owners to seek guidance and advice from the body corporate. 6) If the building is evacuated, determine an effective way to remain in contact with owners and occupiers. 7) Mr McCulloch said after the event it was a good idea to integrate these steps into an emergency procedure to mitigate damage if such an event were to occur again. 8) Alert occupants to check and secure any loose items on balconies. Ensure all outdoor furniture is secured. 9) Review past flood levels and consider what may be damaged if such levels are experienced again. Can assets be relocated to a higher floor? Can the lift be reprogrammed so it does not automatically descend into the flood waters upon power loss? 10)  Inform residents to prepare an emergency kit with a torch, battery operated radio, spare batteries, emergency contact details and first aid materials. 11)  Review existing insurance policies and ensure adequate cover is in place. 12)  Formulate a cyclone mitigation plan to be distributed to all owners and occupiers and consider what action will be taken in the event of a future emergency.
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Source: Archers Body Corporate
 
jduke@propertyobserver.com.au
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