<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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Three Queensland hotels run by Wesfarmers were the jewel in the crown of a busy investment portfolio auction at Crown casino last week.
Burgess Rawson auctioneer David Scholes put the hotel freeholds – all with new 15-year leases to Coles Liquorland – under the hammer before a large crowd in the casino’s River Room. They were among 14 commercial properties offered on the day.
Scholes said that, under Queensland law, Coles must run the hotels in order to retain the bottle shops – hence the long leases being offered. He said the company operates 92 hotels Australia-wide.
Strong bidding for the hotels – with more than 30 bids for the first offering - reflected investor confidence in the strength of the hotel industry.
The <a target="_blank" href="https://www.ourhotels.com.au/royalenglishhotel/">Royal English Hotel</a>, in Sandgate Road, Nundah, attracted $7.75 million on a yield of 7%. As well as the new 15-year lease it comes with five 10-year options, as do the other two hotels.
Coles has agreed to spend $1.5 million on refurbishments on this busy inner northern suburban hotel which returns $550,000 net annually, with the tenant paying rates, taxes and insurance.
The hotel adjoins the Circa Nundah mixed use precinct with 184 apartments and 1200 square metre office tower. It has a public bar, bistro, function room and gaming room with 40 machines. There are 22 car spaces and three detached bottle shops. Nearby are a Woolworths store and 15 shops, as well as the railway line and freeway.
Bidding began at $6 million and ran quickly through 30 bids to the sale price.
The <a target="_blank" href="https://www.tripadvisor.com.au/Hotel_Review-g1132645-d2557638-Reviews-Currimundi_Hotel_Motel-Sunshine_Coast_Queensland">Currimundi Hotel</a>, Motor Inn and Liquorland outlet in Buderim Street, Battery Hill, Caloundra, brought $5.8 million reflecting a yield of 6.9%.
Buyers may have been influenced by Scholes’ claim that the district’s 338,000 population was expected to grow almost 50% in the next 50 years, after having doubled in the past 10.
The hotel on 15,698 square metres returns $400,000 per annum net rent. It has a public bar, bistro, gaming room with 40 machines, and drive through bottle shop. The motor inn has 26 three-star motel rooms on two levels, and pool.
The complex is 500 metres from the beach in this popular tourism belt 90km north of Brisbane.
<a target="_blank" href="https://publocation.com.au/pubs/qld/mackay/taylors-hotel">Taylors Hotel</a> and Liquorland in Wood Street, Mackay, went for $3.150 million at a yield of 7.94%. Built in 1936 the hotel on a corner site of 1,287 square metres has 16 rooms and the Liquorland outlet and returns $250,000 per annum net rent.
Features are the extensive bottle shop and public bar, TAB, bistro, beer garden and gaming room with 35 machines.
Scholes said the Mackay region was benefiting from $4.5 million in residential projects. He said Wood Street was set for government funded refurbishments.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Wesfarmers' Queensland hotels saw strong bids

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The forthcoming Property Occupations Act 2013 changes to the Property Agents and Motor Dealers Act 2000 (PAMD) have had readers discussing with some fervour lately.
The first area getting a lot of traction in discussion is the deregulation of commissions, requiring no cap to be made on the amount an agent can make. Property Observer recently wrote about the fact that <a href="https://www.propertyobserver.com.au/queensland/qld-agents-no-longer-need-to-disclose-commissions-to-buyers-under-new-laws/2013112066505" target="_blank">commissions will no longer require disclosure to buyers</a>.
Another change that had the Real Estate Institute of Queensland asking for was the <a href="https://www.propertyobserver.com.au/queensland/the-reiq-s-recommendations-for-the-state-s-new-real-estate-legislation-anton-kardash/2013082664164" target="_blank">abolishment of the PAMD 30c warning statement</a>.
While yet another piece of wide discussion was that the <a href="https://www.propertyobserver.com.au/news/new-qld-legislation-make-agents-unable-to-provide-price-guide/2013120466800" target="_blank">legislation could leave buyers without price guides</a>.
Michael Davoren, managing director of RE/MAX Australia, noted the following about two different areas:
Deregulation of commissions
Queensland law currently caps the amount of commission an agent can charge for residential or rural property transactions. That will alter when the State Government deregulates real estate commissions  as one of the changes included in the Property Occupations Bill 2013, which spits the Property Agents and Motor Dealers Act 2000 (PAMDA) into industry specific Acts.
The deregulation process in 2014 will bring Queensland into line with other states and territories. In effect, Queensland is moving to be in step with the rest of Australia.
While many have expressed concern perceiving that deregulation may lead to increases in commissions, the experience in other Australian markets shows that this is not the large scale case.
A percentage of agents will move their commissions downward.
Under a deregulated system, agents will be better placed to negotiate with sellers on the amount of commission to be paid.
The amount charged will only come into question when the customer can’t see the point of difference, when an agent cannot differentiate themselves through the value of their service.
Deregulating commissions can be expected to lead to increased competition in the industry, which should benefit consumers and agents.
Agents have to learn how to address the customer’s questions on the commission fee charged.
Agents have to learn how to truly add value…for example, by sharing their listings with other agents in the market. Agents must be prepared to negotiate the commission charges around such arrangements as exclusives and conjunctions, and consider options such as charging a listing fee.
Many of these things will be alien to practicing Queensland agents so RE/MAX Australia will offer dedicated training in the first half of 2014 to put its people at the front of the game.
Auctions and price disclosure
The Property Occupations Bill 2013 currently before the Queensland Government contains guidelines around price disclosure of properties to be auctioned.
The decision to clarify what the agent can and cannot give a potential buyer by way of price guide is a good one.
The Act proposes that an agent or auctioneer can provide a comparative market analysis in writing with the written consent of the seller and at the direct request of the buyer.
The auction method is the purest form of sale and the proposed Act firms up its transparency.
The auction sale outcome is not influenced by the real estate agents opinions of price and value but can be based around actual substantiated comparative facts presented in writing, which includes via fax or email.
These conditions in the proposed Act also remove any temptation by real estate agents to attract buyers as well as auction listings by quoting price ranges that cannot be backed up in writing.
 
What are your thoughts? <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Property Occupations Act's impacts on Queensland agents: Michael Davoren

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of December 14. <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>

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APM's Brisbane auction results for December 14 weekend

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Property owners in possession of manufactured homes have one week left to complete an online survey about the industry, according to Queensland's Housing Minister Tim Mander.
Mander said that the government is reviewing the Manufactured Homes (Residential Parks) Act 2003, with plans to lower the cost of living and reduce red tape.
“The survey was first launched 11 weeks ago and includes questions on a range of topics including sales, operations, utility charges, rent increases and dispute resolution," said Mander.
This comes as the <a href="https://www.propertyobserver.com.au/news/plan-to-slug-caravan-rents-extra-10-gst-slammed-by-premier/2013120366750" target="_blank">government has been opposed to a recent draft ruling from the ATO</a> that may have burdened manufactured home owners with extra GST on their site's rent.
“The Newman Government believes the draft ruling is unfair and has called on the Federal Government to reject it,” he said. 
“It’s simply not fair for manufactured home owners to be slugged with an additional cost that doesn’t apply to people renting other types of dwellings like apartments or houses."
With 21,000 manufactured homes in parks across the state, many of them are under the ownership of retirees and seniors.
A consultation paper based on the survey's results, meetings with park owners and representatives, the legal profession, home owner advocacy groups and other relevant stakeholders, will be released by mid-2014.
“The consultation paper will outline the challenges facing manufactured home owners and the residential parks industry and the options to address them," he said.
The <a href="https://www.getinvolved.qld.gov.au/gi/consultation/1464/survey/1504/view" target="_blank">survey is available online.</a>
It asks your gender, age and income, details about your living conditions and the park in which you are located, as well as information about selling your property. There is also space to add in your own comments.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Final week of the manufactured home survey: Queensland government

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A local investor has picked up a freehold commercial property at Cooroy on the Sunshine Coast for $802,890.
The 3 Johnson Court property sits on an area of 4866 square metres and sold on a yield of about 6.25%.
<img alt="cooroy_dec_11_one" height="353" width="470" src="/images/stories/2013/12/11/cooroy_dec_11_one.jpg">
Selling agent John Petralia of Ray White Commercial Noosa said the property had multiple tenants and generated income of about $50,000 per annum.
“This is the first industrial property sold in the Cooroy area since 2009,” he said.
<img alt="cooroy_dec_11_two" height="353" width="470" src="/images/stories/2013/12/11/cooroy_dec_11_two.jpg">
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
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Cooroy sees first industrial property sale in four years

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A three storey retail building in the heart of the Brisbane CBD has sold under the hammer for $6 million.
Tenanted by popular new Asian restaurant, the Malaya Corner, the property at 157-159 Elizabeth Street, Brisbane, attracted five bids at the auction before being snapped up by a local private investor.
Malaya Corner is one of three tenants in the building. It also houses the established Maru Korean restaurant on the first floor and the lower ground floor tenancy is occupied by the City Camping and Disposals store.
Ray White Commercial Queensland director of sales, John Dwyer, sold the property on behalf of private investors, who have owned the property since 1980.
Mr Dwyer said the building offered a net lettable area of about 875 square metres.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
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Brisbane CBD building sells for $6 million

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Located in the northern region of Queensland, Cairns is home to over 220,000 people. It is 1707 km northwest of Brisbane and is a popular tourist destination thanks to its tropical climate.
According to SQM Research director Louis Christopher, Cairns is enjoying a low vacancy rate of 1.9% at the moment, down from a peak of 4.9% in August 2009. 
This has translated into a slight increase in asking rents. For the Cairns region, houses are seeing a median asking rent of $389 a week, while unit median asking rents are around $236 a week, according to Christopher.
He also noted that there has been a downturn in the Cairns market since 2009.
“Back then in 2009, the median unit price was $300,000. Now it's $236,000. The median price for houses back then $430,000, now it’s $389,000. Over past 12 months, the rate of the climb has slowed somewhat. Houses down 1% for last 12 months, units prices are totally unchanged. They have flatlined,” he said.
Looking at data for stock on market, Christopher said he has been seeing “elevated stock listings” in Cairns. At the moment, there are around 6000 properties on the market in the region. While there has been a slight decline in listings over the last four months, he notes that there is “nothing to suggest there's a new trend yet”. 
As for the outlook for next year, Christopher thinks it is “neutral to being a buyer’s market”.
Australian Property Monitors’ senior economist Dr Andrew Wilson told Property Observer that the Cairns market is “showing signs of picking up”.
“It is tracking price growth in both the house and unit market, even though the median house prices are 5% below previous price peaks,” he said. 
He notes that there are significant issues with the unit market with regard to “insurances and cost of body corporate fees”. 
“This has had a significant impact on unit ownership, that’s why there hasn’t been a development in Cairns in years,” he said.
Dr Wilson notes that houses in the northern beach suburbs of Cairns have been doing well so far.
“The top growth suburbs at the moment are Kewarra Beach, there are quite a number of sales there. The six-month median is up by 7%, and the 12-month median is up by 16%,” he said.
Dr Wilson said other top-growth suburbs included Trinity Beach and Clifton Beach in the north. In southern Queensland, he noted that Bentley Park and Gordonvale were “doing quite well”.
“I think the Cairns market will get very close to its previous price peaks by the end of next year. It’s not just a question of lifestyle markets in Cairns. The state’s economic output has improved. And Cairns is a hub for agriculture tourism. Together with the dollar, these will activate the local economy,” he said. 
He added that investor activity has picked up in Cairns, especially with buyers from China.
“Cairns is ticking all the boxes at the moment. I anticipate price growth from now till next year, of between 5 to 7%,” he said.
Powe Property owner Matt Powe, who has ten years’ experience in the Cairns property market, says Cairns has picked up in the last 12 to 18 months. 
“It’s been a long time coming. Since 2008, it’s been a pretty tough place for the property market and such up till a year ago, when rental yields were pretty high and prices were quite low,” he said.
He added that the prospect of cash-flow positive properties was a huge factor for an increase in buyers in the area.
Powe added that buyer activity in Cairns is made up of both investors and owner-occupiers.
“Investors are still there, there are more people moving into Cairns now, or getting out of a tenancy to purchase a property,” he said.
He notes that the Northern Beaches may be of interest after the Queensland Government approved the first stage of plans for a casino in Yorkeys Knob. Traditionally popular suburbs such as Cairns North, Edge Hill, Whitfield and Parramatta Park should remain in demand, Powe said. 
According to the latest RP Data report, the median house price in <a href="/news">Yorkeys Knob</a> is $310,000, down 13% on last year. The average discount required to sell a house is 7.9%, while private treaty sales average 110 days on market. The median asking rent for houses is $376 per week, while gross rental yield is 6.3%. 
The median unit price in Yorkeys Knob is $197,000, up 2% on last year. The average discount required to sell a unit is 7%, while private treaty sales average 122 days on market. The median asking rent for units is $250 per week, while gross rental yield is 6.6%.
According to the latest RP Data report, the median house price in <a href="/news">Cairns North</a> is $381,000, up 3% on last year. The median asking rent for a house is $350 per week, while gross rental yield is 4.8%.
The median unit price in Cairns North is $215,000, up 5.9% on last year. The average discount required to sell a unit is 9.5%, while private treaty sales average 105 days on market. The median asking rent for a unit is $283 per week, while gross rental yield is 6.8%.
According to the latest RP Data report, the median house price in <a href="/news">Edge Hill</a> is $390,000, down 1.3% on last year. The average discount required to sell a house is 7.3%, while private treaty sales average 82 days on market. The median asking rent for a house is $390 per week, while gross rental yield is 5.2%.
The median unit price in Edge Hill is $152,000, up 1.3% on last year. The average discount required to sell a unit is 8%, while private treaty sales average 101 days on market. The median asking rent for a unit is $230 per week, while gross rental yield is 7.9%.
According to the latest RP Data report, the median house price in <a href="/news">Whitfield</a> is $450,000, up 7.8% on last year. The average discount required to sell a house is 7.4%, and private treaty sales average 91 days on market. The median asking rent for a house is $420 per week, while gross rental yield is 4.9%.
The median unit price in Whitfield is $248,000, down 1.8% on last year. The average discount required to sell a unit is 7.8%, while private treaty sales average 88 days on market. The median asking rent for a unit is $265 a week, while gross rental yield is 5.6%.
According to the latest RP Data report, the median house price in <a href="/news">Parramatta Park</a> is $342,500, down 16% on last year. The average discount required to sell a house is 6.6%, and private treaty sales average 96 days on market. The median asking rent for houses is $355 per week, and gross rental yield is 5.4%.
The median unit price in Parramatta Park is $215,000, up 10.5% on last year. The average discount required to sell a unit is 8.4%, while private treaty sales average 96 days on market. The median asking rent for units is $280 per week, while gross rental yield is 6.8%.
<a href="mailto:dleow@propertyobserver.com.au">dleow@propertyobserver.com.au</a>
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dleow-BGaNPbHWyK

Suburb spotlight: Cairns enjoying low vacancies

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of December 7. <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>

APM's Brisbane auction results for December 7 weekend

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Gold Coast apartment sales volumes for the year to date have already exceeded the whole of last year - with one quarter to go.
Colliers International’s research and forecast report for the second half of 2013 found that the September quarter had 184 sales. This takes total for 2013 to 552 - slightly higher than the 546 for all of 2012.
While a large proportion of sales can be attributed to a small number of projects, the majority of projects have seen upward movement in sales rates. Across the board, the sales rate for the September quarter rose to 6.3% per project - the highest level since the start of 2008.
But, while sales strengthen, stock levels decline, the report says. Based on the current quarterly sales rate of 184, stock could be exhausted within 13 months, marking the fastest take-up rate in five years.
<img alt="gold-coast-nov-28-one" src="/images/stories/2013/11/28/gold-coast-nov-28-one.gif" height="368" width="470">
During the September quarter, three projects sold out - Aquilo, Winged Keel and Drift Apartments stage one - leaving only 800 apartments on the market. This is the lowest number since December 2001. The five year chart illustrates the continual decline of stock levels from a high of around 2,400 in early 2009 to the current level of 800. While several projects (Sapphire at the Broadwater, Phoenix and Pure) are on the market, sales figures are unavailable at this stage. The report says these projects will have "some upward impact on supply levels but they are reportedly selling well so impact will be minimal".
The report found:
High rise
Fourteen high-rise projects across the Gold and Tweed coasts recorded 85 sales during the September quarter. Southport Central III and Soul were the top performers with 16 sales each followed by Synergy with 15 sales. The supply of high-rise stock continues to decline from the most recent peak of around 1,600 in mid-2009 to the current 650. Most high rise sales occurred in Broadbeach, Surfers Paradise and Southport and these suburbs also hold the largest supply of new high rise apartment stock. Only two high rise sales occurred at the southern end of the coast during the September quarter.
Medium rise
The medium rise sector out-shone high rise during the September quarter, with 92 sales across 10 projects. The North Shore Precinct recorded 93% of all medium rise sales with Aquilo reporting 55 followed by Salacia Waters (13) and Harmony Broadwater (12). Based on the current selling rate, medium rise stock could be exhausted in as little as four or five months. Only 138 medium-rise apartments remain on the market - most within the North Shore Precinct.
Low rise
The low rise sector has almost come to a stand-still across the Gold Coast with only seven sales during the September quarter and only 11 apartments remaining on the market. There is a definite under supply in this sector with limited supply in the planning stages as most developers move from three levels to four and five to maximise returns. Where possible, approvals for low rise projects are being increased which will result in an upward swing in the medium rise sector.
Outlook
The outlook for the Gold Coast is looking brighter than it has for several years. Interest rates are at the lowest levels in decades, the population is rising, dwelling approvals are increasing, residential vacancy rates are decreasing and tourists are returning.
The state government declared Southport a priority development area in October. This will take Southport to another level and build on the current development activity. Several new development applications have been submitted to council and more will follow. Leading up to the Commonwealth Games, Southport will become a development ‘hotspot’, taking the attention away from traditional apartment tower suburbs of Surfers Paradise and Broadbeach.
Surfers Paradise and Broadbeach will continue to attract high rise development, particularly along the light-rail corridor.
Precinct updates
Broadbeach 
The Broadbeach Precinct recorded the second highest sales rate during the September quarter with a total of 34. For the second consecutive quarter, Synergy was the best performing project with a total of 15 sales, followed by the two Oracle towers with 10 sales in Tower II and seven sales in Tower I. Provided no new stock is added to the market and the current sales rate continues, Broadbeach could be sold out within 18 months.
Surfers Paradise
Surfers Paradise reported 31 sales during the September quarter. The best performing project was Soul with 16 sales followed by Hilton Orchid Tower with nine and Hilton Boulevard Tower with six. Based on the current selling rate, the remaining stock in Surfers Paradise could be exhausted within 16 months. The Hilton and Soul towers have been the subject of speculation and media comment since suffering the effects of the Global Financial Crisis. However, the tide has turned and sales are being made in these iconic buildings. Both Hilton towers are over 90% sold with minimal stock remaining. The Soul building had some of the highest price points across the Gold Coast with sales in the September quarter averaging $2.58 million. Prices ranged from just over $1 million up to $4.6 million.
Southport/Labrador
With Southport to become a priority development area the suburb is set to attract development, along with existing projects such as the light rail ($1.8 billion), recent completion of the Gold Coast University Hospital ($1.76 billion), the on-going redevelopment of the Broadwater Parklands and the expansion at Griffith University.
The Southport/Labrador Precinct reported 26 sales during the September quarter with Southport Central III recording the highest sales rate of 16.
<a href="mailto:Staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Gold Coast apartment sales rate cruising past last year 

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A former housing commission area in Ipswich, Queensland, Riverview is located about 30 kilometres from the Brisbane CBD.
Property Observer ran a search and found only 40 properties for sale in the area.
Australian Property Monitors senior economist Dr Andrew Wilson told Property Observer that Riverview has “underperformed” over the last few years, though he expects the wider Brisbane property market to pick up in the next year. 
“Riverview is part of that budget market in Queensland, it has been soft, as it has been right on that budget level,” he said.
Dr Wilson notes that most outer suburban regions that fall under the budget market have been “weak and soft” as a result of a decline in the local economy.
“With positive signs of improvement coming through, gradually the budget market will pick up in Brisbane. Given the higher affordability going straight into entry-level prices, generally the market will start to pick up,” he said.
He believes the Riverview property market will see some growth by midyear next year, though in the short term low buyer activity is to be expected. 
First National Westside principal George Collis believes the Riverview property market is “warming up” at the moment.
He notes that Riverview is “less developed than its neighbouring suburbs” and is still recovering from the aftereffects of the global financial crisis.
“Things are improving, though they are not back at the peak of what they were,” he said.
Collis added that the average buyer would usually choose to purchase a property in a neighbouring suburb instead.
“You would have to have a specific reason, like your mum lives in the area, or get something for a really good price to justify buying there and not in an adjacent suburb,” he said.
However, it’s not all doom and gloom. Collis thinks the property market in Brisbane will pick up next year, though he does not expect Riverview to be inundated by specific queries.
For property investors, he notes that most properties in Riverview were built by the Department of Housing – therefore, they are built for rentals, and are usually very well-built.
“You normally receive pretty good rental returns. Also, right now you can probably buy at a reduced price,” he said.
Collins reminds potential investors that certain areas of Riverview were flooded, and to consider factors such as flooding and mining influences before purchasing a property.
<a href="mailto:dleow@propertyobserver.com.au">dleow@propertyobserver.com.au</a>
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