<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?

An original circa 1920s Queenslander - once the wedding gift for a local landowner&#39;s daughter - has been listed for sale.

The home last sold in August 2010 for $1,775,000 and prior to that, in February 2003 for $1,295,000.

The 2,023 square metre property at 47 Ruthven Street in Corinda features five bedrooms, three bathrooms, tennis court and a swimming pool.

It boasts original features including stained glass windows, bay seat windows and a large wrap-around-verandah.

Listing agent McGrath Estate Agents says there has been a much&nbsp;interest in the property.

As for&nbsp;price indication, they offer the proforma response that it will be a reflection of the market audience.

The median house price in <a href="/news">Corinda</a> is $529,000 with an annual reduction of 15%, according to RP Data.

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A wedding gift Corinda Queenslander trophy home listing

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Langton, a six-bedroom Queenslander style home in Greenslopes is on the market for the first time in 50 years.
Featuring a steeply pitched roof, classic wrap-around verandah and decorative gables, Langton is an example of a bygone era.
Langton is perched atop one of Greenslopes' highest hills at<a href="https://www.realestate.com.au/property-house-qld-greenslopes-114147583" target="_blank"> 8-12 Henzell Terrace</a>, only six kilometres from the Brisbane CBD.
Situated on 1,821 square metres, the property features three bathrooms and has recently been divided into three flats.
The property boasts original brick open fireplace, bay windows seats, ornate ceilings and floor to ceiling stained glass windows.
The potential buyer has the option to restore Langton back into a family residence.
The median house price in <a href="/news">Greenslopes</a> is $577,500, according to RP Data.
The most expensive sale in Greenslopes was for a four-bedroom home at 5 Soden Street in December 2012.
Located on 1,012 square metres, the property sold for $2,775,000.
The most expensive sale on Henzell Terrace was a five-bedroom 1920 home at 18 Henzell Terrace, which sold in August 2006 for $1.32 million having been purchased in 1988 for $270,000.
Langton is due to go under the hammer on July 21 through <a href="https://spinksco.com.au/property-listings/8-12-henzell-terrace-greenslopes" target="_blank">Rachel Spinks of Spinks and Co Residential Consultancy.</a>
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Greenslopes Queenslander home, Langton listed for first time in 50 years

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The Gold Coast East mortgage delinquency rate improved slightly over the last six months to the end of March, but it still trails the Sunshine Coast by a significant margin, according to Fitch Ratings.
The two Queensland coastal markets have been among the most troubled housing regions in Australia since the GFC.
Fitch Ratings record that delinquency rate on the Gold Coast improved by 15 basis points as borrowers noting that borrowers in this region are less sensitive to interest-rate movements.
It records a delinquency rate of 2.29% (borrowers more than a month behind on mortgage repayments) for the Gold Coast East market, which comprises those suburbs along the coast including Surfers Paradise, Broadbeach and Mermaid Beach, making it the third most delinquent region in Australia after <a href="https://www.propertyobserver.com.au/residential/greater-western-sydney-replaces-gold-coast-as-most-delinquent-region-fitch/2013070262884" target="_blank">Liverpool-Fairfield in greater western Sydney</a> and the NSW Central Coast.
The Sunshine Coast’s delinquency rate remained unchanged at 1.9% over the six months to the end of March with Fitch noting that the Sunshine Coast shared the same trend in delinquency rates as Gold Coast East over the 18 months to end-March 2013.
“However, as of this date, the Sunshine Coast was no longer among the 10 worst-performing regions in Australia,” says Fitch.
<img alt="queensland_delinquencies" src="/images/stories/2013/larry_uploads/queensland_delinquencies.jpg" width="470" height="338">
In comparison Gold Coast East has been the worst-performing region in Queensland since 2008 with “declining house prices have had an impact on the credit profile of leveraged buyers, attracted to the region by expectations of short-term property gains and high rental yields”.
“Declining house prices also increased the time required to sell foreclosed properties, leading to an accumulation of delinquent loans in the 90+ day bucket. Almost half (1.22%) of all delinquent loans (2.29%) were delinquent for more than 90 days as of end-March 2013.
“Of more concern is that the number of delinquent obligors has remained high since end-March 2011 in contrast to the rest of Australia.
“A total of 16 loans out of 1,000 were non-performing in these two regions at end- March 2013, the same level since end-March 2011,” says Fitch.
In terms of postcodes, Surfers Paradise ranks as the 10th most delinquent postcode in Australia with an arrears rate of 3.4%, an improvement from 4% six months ago.
Recent mortgagee sales on Surfers Paradise include <a href="https://www.realestate.com.au/property-unit-qld-surfers+paradise-110148185" target="_blank">a one bedroom unit on Monte Carlo Avenue</a>, which sold for $168,000 in April last year through Ross Kachel of Harcourts – Runaway Bay. It previously sold for $195,000 in March 2010 according to RP Data.
However, there are no Sunshine Coast locations among the 20 worst performing postcodes.
The closest is Caboolture Shire – in between Brisbane and the Sunshine Coast - which recorded the highest increase in 30 plus days delinquency rates across all regions of Australia in the six months to March, with its delinquency rate increased by 71 basis points to 2.28%.
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Gold Coast trumps Sunshine Coast as most delinquent Queensland coastal market

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Gold Coast real estate company Staymint has been fined $50,000 for 231 counts of dishonestly converting trust account money to its own use.
The offences occurred over more than a year while Staymint operated the Broadbeach holiday apartment complex Carmel by the Sea.
The fine was handed down in the Brisbane Magistrates Court last week after Staymint pleaded guilty to wrongfully converting $141,466 in trust money between 1 July 2011 and 1 August 2012.
The court heard Staymint staff booked tenants into rooms in Carmel by the Sea’s letting pool then, after the guest had checked out, changed the records to indicate the guest had stayed in a leaseback unit.
Lease back units are units for which the property manager guarantees the landlord a set return. If the unit returns less than the guaranteed amount, the property manager must make up the shortfall. If it returns more than the guaranteed amount, the property manager retains the additional income as profit.
Rather than transfer the amount earned from a guest staying at a unit to the unit owner, Staymint transferring the amount earned from this stay to its own accounts.
The Queensland Office of Fair Trading (OFT) investigated after a unit owner complained he had not received rent from tenants who had signed the guest book in his unit.
The OFT executed a search warrant on Staymint’s office, seizing a hard drive and trust account records that showed the company had wrongfully transferred $141,466 to its own account.
The court heard Staymint is in the process of repaying the 34 affected unit owners, with $75,000 paid to date.
No conviction was recorded against the company.
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Gold Coast estate agency fined $50,000 over 231 cases of trust account misuses

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ASIC has cancelled the registration of Wickham Securities auditor Brian Kingston as it continues to investigate the collapse of the $30 million mortgage lender and the financial planning business run by founder Bradley Sherwin, which promoted its financial products.
Wickham Securities collapsed in December last year and is now in liquidation.
Self-funded retirees having invested $27 million in the mortgage lender through $1 unsecured deposit notes promising returns of 9.25%.
The money was then lent to what appears to be borrowers of last resort to fund commercial property acquisitions or refinance existing loans, at interest rates in excess of 20%.
Under an enforceable undertaking with ASIC, Brian Patrick Kingston of Bapaume, Queensland, has agreed to "never reapply for registration or perform any duties or functions of an auditor". ‘Mr Kingston clearly failed in his job,” said ASIC commissioner John Price. ‘ASIC will not tolerate inferior work and is determined to lift standards within the auditing profession."
<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/administrators-find-%24108-million-black-hole-in-wickham-securities/2013013059033">Property Observer reported in January</a> that investigations into the collapse of Wickham Securities by administrators PPB Advisory uncovered what appeared to be a bogus $10.8 million cashflow statement, one of a number of apparent discrepancies and irregularities. 
The administrators found that an amount of $10,779,835.47 said to be in Bank of Queensland bank account as of 30 November 2012 “was not available in the company’s bank accounts”.
At the time, joint administrator Grant Sparks and David Leigh said they were still waiting to receive a copy of the company’s books and records from Kingston.
Documents published by PPB Advisory since then do not indicate that this information has been provided to them.
This week NAB launched a lawsuit seeking to repossess Sherwin’s renovated 1910-bult colonial Wooloowin home (pictured below) in Brisbane's inner north, according to a report in the Brisbane Courier Mail.
{yoogallery src=[images/stories/2013/06/june28sherwin]}
RP Data records show Sherwin bought the house, which is in his wife Deborah’s name, for $915,000 in 2008. It previously sold for $575,000 in 2004.
Overlooking Kalinga Park, the chamferboard-clad house has five bedrooms and three bathrooms.
In its latest statement, ASIC says that on September 27 2012, just under three months prior to the collapse of Wickham, Brian Kingston issued an unqualified audit opinion on the financial report of Wickham for the year ended 30 June 2012. ASIC formed the view that, in respect of the audit, Kingston failed to carry out or perform adequately and properly the duties of an auditor.
In particular, ASIC was concerned the audit was not conducted in accordance with the Australian Auditing Standards because among other things, “an adequate level of professional scepticism was not exercised in auditing the recoverability of loan assets and assessing going concern, and reliance was placed on representations from Wickham management and directors without having performed appropriate audit procedures to corroborate or confirm those representations”. ASIC is continuing to investigate the collapse of Wickham, and Sherwin Financial Planners Pty Ltd and related entities.
ASIC commenced action against Bradley Sherwin, his wife Deborah Sherwin and eight related companies seeking orders to freeze bank accounts and appoint receivers soon after Wickham Securities collapsed.
The eight related businesses, which include Sherwin Financial Planners Pty Ltd, were all placed in administration on January 24, with administrators from the firm of Taylor &amp; Woodings appointed.
Sherwin has strongly denied any wrongdoing and says he is assisting ASIC.</body></html>

Wickham Securities auditor accepts ASIC life ban as NAB seeks to repossess founder Bradley Sherwin’s Wooloowin house

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Positive signs continue to emerge that the nascent recovery in the Brisbane housing market evident over the past year may be sustained, according to Australian Property Monitors.
"The Brisbane economy now appears to be back in town," APM's senior economist Dr Andrew Wilson said noting a sharp fall in the local unemployment rate over April, falling from 6.3 percent to just 5.1 percent.
"It is no coincidence that the rise in Brisbane’s unemployment rate over 2012 provided a significant impediment to housing market confidence and buyer activity in that city."
Buyer activity remains solid in Brisbane’s established middle-ring suburbs to the north and west of the city.
Redland City is also proving popular with Brisbane buyers.
First home buyers remain subdued; however investors are increasingly recognising the potential of Brisbane, with its high yields and plenty of upside for capital growth.
Click to enlarge
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Discounting on the decline to secure Brisbane sales: APM housing market report

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Riverpoint, the six-bedroom Isle of Capri mansion that sold through former Ray White Broadbeach prestige selling agent Michael Kollosche for $10 million in September 2010 has been sold ahead of a scheduled July 9 auction for an undisclosed, but likely significantly lower price.
Its most recent price indication came when $3.9 million was offered at its recent May 30 auction which was rejected by Suncorp, the mortgagee-in-possession, who ordered the forthcoming auction.
The house is currently at the centre of a Brisbane Supreme Court legal dispute relating to $2 million deposit paid as an option deal on the 1-3 La Scala Court house in September 2010, with the buyer being former bankrupt call-centre operator Steve Wooldridge’s One-Eleven (Qld) business entity acting on behalf of the Wooldridge Discretionary Trust.
Wooldridge is seeking a return of the $2.04 million deposit claiming he was misled by owners Peter and Kim McQueen and Michael Kollosche, the Gold Coast Bulletin reported.
Separately, Kollosche, solicitor Damien Ingwersen and his firm, and Galacoast, the company that previously operated Ray White Broadbeach is being sued for $17.5 million by Coast real estate agent Rod Lambert, the whistleblower who has alleged price-fixing scams on Mermaid Beach. The case involves the sale of a prime development site on Albatross Avenue at Mermaid Beach to Lambert and his wife in 2007 for $10.6 million.
Both the May and July auctions of Riverpoint were being marketed by Michael Willems from Ray White Prestige Gold Coast - Surfers Paradise.
It is described as being “immersed in a landscape of tropical gardens” though parties involved in the legal dispute may take issue with the view that “Riverpoint is a home where every day is a day in paradise”.
It has six ensuite bedrooms with views down Nerang River as well as a separate guest suite and study in separate private pavilions with wood elements featuring recycled and reclaimed ironbark timber from a Newcastle wharf.
It has 90 metres of direct rver frontage, a 10 car basement parking, a theatre, rumpus, bar, cool room, gym, tennis court, boat mooring and private beach and sits on a 2,600 square metre block.
It was built by the McQueens after they acquired two adjoining properties for $2.2 million in 2002.
<img src="/images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone" height="57" width="470">
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Disputed Riverpoint mansion on Isle of Capri sells ahead of July 9 auction

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Retailing tycoon Gerry Harvey has purchased the Cairns Hypermart for $16.175 million. 

The 15,300 square metre shopping centre (pictured below) has several big-name tenants, including Harvey Norman which has 9400 square metre space which represents 61% of the centre's space.
{yoogallery src=[images/stories/2013/06/june26hypermart]}
Its other tenants include Snooze and Freedom Furniture.
It returns a rental income of $1.94 million per annum. Its about 99% leased.

The centre and office tower located on the corner of Spence and Draper streets comes with 162 car parks on its 2.43 hectare site. It has been bought through the Harvey Norman subsiduary, Calardu Cairns.
It is the former Cairns Brewery site.
Both Harvey Norman and Freedom Furniture have been tenants in the building since its 1995 construction, Harvey Norman having made lease agreements until 2018 and Freedom until 2015.  They pay 66% of the centre's income.

Harvey told the Cairns Post he thinks the region has a good long-term future. 

“We think Cairns is a wonderful place. We have been there for a long time.

“Overall, Cairns is one of the better towns in the country and it’s got a good long-term future,” he said. 

The buyer catchment area for the property is 229,920 people and that number is expected to grow at a rate of 1.5% to 1.8% per annum. 
On its listing last year there were $20 million price hopes.
The last valuation was $17 million as at December 31, 2012.
It last sold for $16.8 million in 2001. It sold at $17.55 million in 1999.
It was sold by Charter Hall Direct Property Management Ltd, which had taken over the hypermart's owners, PFA Diversified Property Trust.
 

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Confident Gerry Harvey buys Cairns Hypermart

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The largest drop in the value of units in Australia has occurred in Wide Bay Burnett, Queensland, according to a report released by RP Data. 



Unit values in this area have dropped 19.8% since the market peaked in 2007-2008, with fewer units now for sale in the area. 



The Wide Bay Burnett area, including Bundaberg and the Fraser Coast, is well known for established agriculture and tourism industries, with access to whale watching and Fraser Island, the world’s largest sand island. 



Tim Lawless, national research director at RP Data, says the largest declines in property values have been recorded across the coastal and lifestyle markets, such as Wide Bay Burnett, and these declines are more concentrated across unit dwellings within these regions. 



Rae Vella, principle estate agent at A1 Realty, Wide Bay Burnett, puts the decline down to an improvement in the rental potential of houses in the area. 



“Investors are going towards houses more than units because the rental return in better,” she says. 



Vella says property investors looking to lease out properties make up most of the buying market in Wide Bar Burnett, contributing to the fall in unit values. 



She adds that the few units that are listed with A1 Realty have tended to have been on the market for long periods of time, causing owners to reduce the asking price. 



“Some units that have been on the market for quite some time have come down in price,” she says. 



Current units in Wide Bay Burnett are listed at between $149,000 and $285,000. 
<div>
Recent unit sales in the area show price falls - though not as much as the headline figure. The sales have included a 2-bedroom unit on King Street, Bundaberg North, which sold for $229,000 in March. The unit had previously sold for $235,700 in February 2011 and $233,000 in March 2009. 

A three-bedroom unit in Svensson Heights is currently listed for sale with an asking price of $299,000, the same price it was sold for in May 2009. 

</div>



Other areas that have experienced a significant drop in property value include Far North Queensland, the Barwon region of Victoria and the Gold Coast, Queensland.
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Unit values fall 19.8% in Wide Bay Burnett as investors preferences shift to houses

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I’ve had more questions about Port Hedland than any other Australian location in the past week or so. Combined with questions about Gladstone, they probably comprise 75% of location-specific queries I’ve had lately.  
Australian investors seem constantly on the prowl for boom locations with runaway growth and double-digit rental returns. Sadly for most, they act too late in the cycle to get the gains they’re chasing.  
Some people have been puzzled that Port Hedland doesn’t feature on the Hotspotting website and have phoned or emailed to ask why that is.  
The answer is that Port Hedland has featured in the past, as one of the most remarkable growth markets that Australia has ever seen. At one point the average annual growth rate in its median house price was above 30% - which means values doubling every 2-3 years, fuelled by strong demand from the mining industry amid limited supply.  
But it features no longer. About nine months ago we started warning investors to be wary of the Port Hedland market and other mega-priced markets in the north of Western Australia, including Karratha.  
The median house price for Port Hedland was well above $1 million - which was ludicrous and, I thought, unsustainable.  
State Government efforts to increase dwelling supply, with an emphasis on affordable housing, were a warning signal that those very high values might be deflated.  
Now, all signs point south for this market. A year ago vacancies were near zero but today they’re approaching 5%. Price growth has stopped and, according to Australian Property Monitors’ price graph, has started to dip below the red line.  
Typical rents are still high – probably the highest anywhere in Australia – but they are gradually dropping and the median rental yield is now 9% for Port Hedland and 8.9% for South Hedland. That’s still attractive for some, but not the 10%-plus returns that previously compensated investors for the risks of a high-priced mining-dependent town.  
The current stumble by the iron ore industry – and I believe it’s a temporary hiccup while the big miners reassess the cost structures of their major projects – has taken some of the heat from the Port Hedland and South Hedland markets.  
So too have the ongoing government efforts to introduce affordably dwellings into a market that few have been able to afford. Last week the State Government launched an apartment project at South Hedland, in which the first stage will have 44 units. The full development will add 112 homes to the market.  
It’s part of a larger plan to make housing more attainable in the Port Hedland area, and other Pilbara centres with astronomical prices.  
Investors should steer clear until the situation settles down.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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