South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention back to the beach.

The developer, started 20 years ago by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success at Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms, whilst remaining compliant with the LMR controls.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments, as well as a full-time building manager's office and wellness facilities including a sauna and a gym.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just four full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach drew on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

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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The outlook for property markets closely linked to tourism has brightened, with prices set to rise by between 3% and 6% in 2013, according to SQM Research’s Boom and Bust report.
The extent of the recovery is heavily dependent on the Australian dollar and further rate cuts.
The outlook is also brighter for the beleaguered tourism-dependent Gold Coast and Sunshine Coast property markets with both areas “showing signs of bottoming out”.
Under a base case scenario, property prices in holiday locations are expected to rise by between 3% and 6% – a brighter outlook than Canberra (1% to 4% rise), Hobart (2% to 5%) and Melbourne (2% to 5%) and almost on a par with Brisbane (3% to 7%).
This scenario is based on terms of trade falling and then stabilising, the cash rate being cut by 50 basis points and the Australian dollar hovering at parity to the US dollar.
<a target="_blank" href="https://sqmresearch.com.au/">According to SQM</a>, the best case scenario for holiday locations would be a crash in the terms of trade, a 100-basis-point cut in the cash rate and the Australian dollar falling below 90 US cents.
If this were to occur, SQM forecasts holiday location property markets to rise by between 7% and 13% – outperforming all capital city markets.
In line with these healthier outlooks, SQM says its previous pessimistic opinion of Queensland’s Gold Coast and Sunshine Coast has begun to shift somewhat in recent months.
“Emerging from extended periods of oversupply and severe price corrections, these regions are now looked upon less negatively, and potentially the worst could be over for these localities.
“Nevertheless, there are still risks going forward, one of the main risks being that the Australian dollar could appreciate in value compared to the US dollar, which would have serious additional ramifications for the local economy.”
 
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SQM Research managing director Louis Christopher says while he has been “very bearish” on the Gold Coast and Sunshine Coast, there is now evidence of a pick-up, with stock-on-market levels coming down.
In February this year <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/kochie-s-right-stay-away-from-the-gold-and-sunshine-coasts-sqm-director-louis-christopher/2012020153218">Christopher said he agreed with financial analyst and TV presenter David Koch'</a>s dire assessment of the Gold and Sunshine coast markets, pointing out at the time that three of the top four most discounted homes in Australia are in Queensland. Kochie came under fire from local estate agents and media for his gloomy assessment of the Queensland market last year. <a href="https://www.propertyobserver.com.au/hotspots/kochie-s-right-stay-away-from-the-gold-and-sunshine-coasts-sqm-director-louis-christopher/2012020153218" target="_blank">Kochie refused to back down from his assessment</a> that the Sunshine and Gold coasts are “catastrophes” and says investors should not trust the views of local estate agents and journalists.
Click to enlarge
<a href="/images/stories/2012/09/sqmsept26.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/sqmsept26thumb.gif"></a>
Christopher says a falling Australian dollar would help these markets as fewer Aussies would take their holidays overseas, while the weaker dollar would attract more international tourists.
Further rate cuts would also help.
Click to enlarge
<a href="/images/stories/2012/09/sqmsept261.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/09/sqmsept261thumb.gif"></a>
But he warns that these holiday markets are not for the "novice investor", who should stick with properties in the suburbs and avoid holiday apartments.
The report also notes that a “gradual rebalancing away from mining and resources back to tourism and manufacturing would be very beneficial over the long term for this country”.
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SQM Research more positive on Gold Coast and Sunshine Coast property markets

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Former rugby league star and once high-flying Queensland property developer Jarrod McCracken, who appeared on the BRW Young Rich List in 2009 worth an estimated $34 million, is considering appealing a federal magistrate decision to place him in bankruptcy.
McCracken was officially declared bankrupt on September 17, according to the Insolvency and Trustee Services of Australia, the government department that oversees bankruptcies.
“As far as I am concerned I can’t see how anyone could go bankrupt with an unquantifiable order against them,” McCracken told The Australian Financial Review.
McCracken has until Friday next week to make his appeal.
The bankruptcy ruling followed just three days after a Federal Magistrates Court ruled he was liable for a $2 million debt to a Townsville construction company, Phoenix Constructions Pty Ltd, following a six-year legal battle.
In June 2011 the Brisbane Supreme Court awarded damages in favour of Phoenix Constructions in the amount of $1.9 million.
The Townsville Bulletin reported on September 15 that McCracken’s assets had been seized to pay costs in the long-running case over the construction of the Watermark complex on the Townsville waterfront.
McCracken told the paper the judgment would be suspended as soon as an appeal was lodged.
"I'm seeking advice next week," he said.
His financial problems reportedly stemmed from a $6.25 million “handshake” loan made to fellow property developer Harry Kakavas, who says he lost the money gambling in Las Vegas and on bets for the AFL and NRL grand finals.
McCracken told a court hearing that he had borrowed the money from "some people in Sydney who are very heavy" and on-loaned it to Kakavas, the Daily Telegraph reported.
McCracken, who hails from New Zealand and is the son of  former New Zealand rugby league international Ken McCracken, played for the Canterbury Bulldogs, the Parramatta Eels and Wests Tigers before a spear tackle ended his career 12 years ago.
He turned his attention property development in 2001, starting off on the Gold Coast before undertaking a number of redevelopment projects in the Townsville CBD.
He first made the BRW Young Rich List in 2005 with a personal fortune of $15 million. He was aged 35 at the time and made his last appearance in 2009.
BRW reported that McCracken had made a string of “canny property purchases” including the local shopping centre, a hotel and the $30 million Waterside Apartments.
In 2009, when BRW estimated his fortune at $42 million the magazine reported that it had been a rough year for McCracken, after he pleaded guilty to “assaulting an ex-business partner on the Gold Coast on his wedding day after a multimillion-dollar deal went sour”.
McCracken and his wife also faced courts after they directed contractors to clear 13 hectares of waterfront rainforest for a house and horse paddock at their large property holding on the Whitsundays just north of Airlie Beach.
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Former NRL star and rich lister Jarrod McCracken considers appealing his bankruptcy

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An increasing percentage of recent Gold and Sunshine Coast home buyers would get less than what they paid for homes if they were to sell them now, according to the latest RP Data Value Accumulation report.
The quarterly report compares the original purchase prices with the current estimated value of property as at June 2012 to provide a measure of value accumulation.
Around 18.3% of Gold Coast properties are now worth the same or less than their original purchase price, compared with 16.8% in the March quarter.
On the Sunshine Coast the proportion of properties worth the same or less than their original purchase price increased from 14.3% to 16.7% from the March quarter to the June quarter.
Nationally, the percentage of homes worth less than or the same as their purchase price increased from 5.4% of homes in the March quarter to 5.9% in the June quarter 2012.
“Of course many homes purchased over the past year would be worth less, with values having fallen by 3.6% across the combined capitals over the 12 months to June 2012,” noted RP Data.
The Gold Coast and Sunshine Coast maintained their second and third place rankings respectively on the list of locations with greatest proportion of homes worth the same or less than their purchase price, but both have worsened on this metric since the March quarter report.
Properties currently listed for sale on the Gold Coast below their previous purchase price include this three-bedroom townhouse (pictured below) on Central Street in Labrador, being marketed by Peter Jarmer of Smart Real Estate and seeking offers above $279,000. The property last sold for $295,000 in January 2008.
<img src="/images/stories/2012/09/centralst.jpg">
Another property listed for close to its previous sale price is this four-bedroom house  on Hobwee Street, Veresdale, in the Gold Coast hinterland near Beaudesert, which is seeking offers above $299,000. It last sold for $295,000 in May 2008. The property is being marketed by Andrew Patrick from Elders Jimboomba.
<img src="/images/stories/2012/09/veresdale.jpg">
 
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The top position on the RP Data list of locations with greatest proportion of homes worth the same or less than their purchase price was retained by the far north Queensland market, which includes heavily tourism-dependent Cairns, Palm Cove, Port Douglas, Innisfail, Weipa and Atherton, with just under one in five homes (19.9%) worth less than their purchase price as of June 2012.
<img src="/images/stories/2012/09/rpsept21.gif">
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
However, while a greater proportion Gold Coast and Sunshine Coast properties slipped into the red, the far north Queensland valuation position remained unchanged since the March quarter.
RP Data notes in the report that "coastal and lifestyle markets, which had previously been supported by a strong tourism sector and the ‘sea-change’ phenomenon, have tended to be the weakest performers”.
“Nine of the 10 regions with the greatest proportion of value declines adjoin the coast, with these regions accounting for 9.6% of the national population. Noticeably, none of the capital city housing markets appear on this list,” RP Data says.
RP Data says the housing market in north Queensland has been “noticeably weak and has felt the full brunt of the economic downturn”.
“Prior to the onset of the financial crisis, this region was benefitting from surging demand due to a high level of population growth, with property values subsequently rising strongly.
“As a result, the majority of home owners that have purchased since 2008 are likely to have a current value that is lower than the purchase price.”
 
<hr class="system-pagebreak">
 
Another market that weakened noticeably was West Moreton, which recorded the greatest quarterly increase of 4.2 percentage points, with 11.8% of homes now worth less or equal to their original purchase price.
West Moreton occupies the entire rural western portion of south-east Queensland and includes the electorates of Lockyer, Beaudesert, Ipswich West and Nanango.
At the other end of the spectrum, Canberra retained its position as having the lowest proportion of homes worth less than their purchase price, with just 2.2% fitting into this category.
Outside of Canberra, no other capital city housing markets feature on the list.
“Most of the regions detailed are characterised as being regional and linked either to the mining and resources sector or agriculture,” says RP Data 
<img src="/images/stories/2012/09/rpsept211.gif">
Source: <a target="_blank" href="https://www.myrp.com.au/">RP Data</a>
On a state-by-state basis, Queensland has the greatest percentage of properties that have recorded a decline or no change in value since their purchase at 9.6%, but down from 11% at the end of 2012.
Western Australia also has a relatively high instance of homes worth less than or the same as their purchase price at 6.8%, down from 7.9% of homes last quarter.
On the other hand, the Australian Capital Territory (2.1% down from 2.5%) and Victoria (3.3% down from 4%) have relatively few properties worth less than or the same as their initial purchase price.
According to RP Data, Australia’s residential housing market was worth an estimated $4.83 trillion at the end of June 2012. This is more than three-and-a-half times the value of the Australian equities market, which has a market capitalisation of $1.2 trillion.
“The amount of equity in one’s home is often a key factor that a bank will assess when deciding whether or not to lend money. Australians have increasingly relied on equity, which is simply the value of the home less the amount of debt held against the property, as a vehicle to leverage into other investments,” notes RP Data.
Over the 10 years to June 2012, capital city home values have increased by about 73%.
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Gold Coast and Sunshine Coast show no signs of turnaround as more homes worth less than purchase price: RP Data 

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Unit prices in Logan, Queensland, have dropped 15% over the last quarter despite a yearly rise of 10.9%, according the Real Estate Institute of Queensland.
The quarterly price drop was the biggest drop for any area in Queensland, according to REIQ statistics, though the yearly gain was the highest as well.
Local agents say the price fluctuations are due in part to developments in the area, but prices are down.
Agent John Ahern from John Ahern Real Estate Slacks Creek says prices have dropped by about 15%, but he says this drop has been over the last 12 months or more, rather than the last quarter.
“The peak of the market was in 2007, 2008 and 2009 and then prices started trending slightly downwards during 2010, and by 2011 and 2012 prices tended to drop a little further,” Ahern says.
“They’ve dropped about 15% from their peak over the last 18 months or so.”
He says the 11% rise in prices is likely due to new developments in the area.
“The trouble with statistics is you take a bunch of sales prices and unless you dig deep you don’t really know if there were some new developments in the area, which can bump up the median.”
“You might have brand-new two- and three-bedroom upmarket apartments which are being sold to interstate investors and possibly overseas, and that can move the average up. An established property in the area has not gone up in the last four years. It’s gone down.”
There have been a number of new developments coming to market recently.
Ahern says prices have likely bottomed out and are due to bounce back.
“It’s a mixture of people buying. We are getting investors coming back in because the prices have dipped. Some investors sold over the last few years, and we’re seeing an influx back into the market because the returns are so good.”
“You can rent around the $250, $260 mark and they’re being sold from $155,000 to $165,000 in that bracket."
He says there has a slight rush in buyers hoping to cash in on the first home owners' grant before new changes roll in.
Ahern recently sold <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-logan+central-111031379">unit 27 at 279 KIngston Road, Logan Central</a> for close to $155,000 in a mortgagee possession sale.
REIQ chief Anton Kardash says winter is traditionally a low point in sales.
“We do know that the winter quarter is in fact historically the quitest time of year and there are a lot of variables that affect confidence,” Kardash says.
The REIQ notes the figures were more influenced by an increase in lower-price unit sales rather than any drop in values.
Agent Marian Grimsey from Professionals Logan Lifestyles Browns Plains and Marsden says prices are desperately down from two years ago.
“I just sold a block for $169,000 which originally went for $230,000.”
“I feel sorry for these people, the owners. It’s better for them to sell than to end up having the bank take it and them not getting anything.”
Grimsey says tighter lending conditions are pushing first home buyers into the unit market.
“They’re having to take another look at what they can borrow.”
Grimsey is selling <a href="https://www.realestate.com.au/property-unit-qld-loganlea-111551515">unit 8 at 46 Monash Road</a>, Loganlea for $289,000.
The median price for units and townhouses in Logan is currently at $262,500, according to RP Data.
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Unit prices in Logan drop most over quarter in Queensland: REIQ

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Horse breeder Tania Carmichael has listed Ourmundi, set on 20 hectares in the Noosa hinterland.
The six-bedroom home was designed by Stephen Kidd for the original owners, Wolfgang Groh and wife Nicola Smith, who founded Nice Cream in Sydney in 1993.
Groh and his wife bought the 20-hectare block of land in 2002 for $400,000.
In 2007, the house and property were sold to Queensland entrepreneur Dean Shannon for $2.4 million, $600,000 less than its then ambitious $3 million asking price.
Carmichael bought the property in April 2008 for $3,075,000.
Featured in the 2006 book <a target="_blank" href="https://www.propertyobserver.com.au/https://www.thamesandhudson.com/9780500512913">Tropical Minimal</a>, the house located at <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/37-venning-road-doonan/Property-Details-buy-residential-4306833">37 Venning Road, Doonan</a>, comes with expansive polished concrete floors, soaring ceilings and huge expanses of bi-fold glass doors. The modern kitchen is installed with marble benchtops and commercial appliances such as a teppanyaki plate, deep fryer and a large cold room.  After selling their Nice Cream business, the Grohs settled in Noosa and continued their interest in food, setting up Mrs Quick, which supplies sausage rolls to supermarkets.
The master bedroom has a private spa on the deck and a five-star ensuite.
Located on the property is a self-contained guest wing, a 20-metre pool, which is linked to the main home via a timber terrace, a barbecue and pizza oven as well as an outdoor fire pit. There is also a chicken shed and run and vegetable garden beds. It comes with spring fed dam stocked with 300 plants and 500 fish.
Since purchasing the property in 2008, Tania Carmichael has renovated the interiors and developed the equine facilities. The property comprises of four stables with tack rooms and feed shed and four horse paddocks, corrals and a Mary River sand area. She also had 4,500 cabinet timber trees planted.
Ourmundi has direct access into Verrierdale forest with dedicated riding trails to Yandina and beyond. The property is fully fenced and is only 10 minutes to schools and supermarkets, and less than 10 minutes to the Eumundi markets and 20 minutes to Hastings Street.
Ourmundi is listed for auction by Graham Smith at Richardson &amp; Wrench Noosa on October 5 and is expected to sell for over $3 million. 
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ntrotman-Et3xWpamVh

Ourmundi, the tropical minimalist Noosa hinterland listing

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From today a new $15,000 first-home owner construction grant (FHOCG) is available in Queensland, replacing the $7,000 first-home owner grant, which has run since 2000.
The FHOCG applies to new property bought or built at a value under $750,000, meaning these buyers will be $8,000 better off under the new scheme.
There are no state government grants for existing properties bought by first-home buyers, who will now be $7,000 worse off – although the Queensland government claims this incentive only served to push up house prices by $7,000.
In addition, under a scheme which has operated since August last year, first-home buyers pay no stamp duty on homes valued up to $500,000 – a saving of  $8,750 and full exemption for vacant land purchased to build a new home up to a value of $250,000.
First-home buyer stamp duty concessions apply to a home purchase price or value of $550,000 and to land up to $400,000 – <a href="https://www.osr.qld.gov.au/duties/transfer-duty/exemptions-and-concessions/home-transfer-duty-concession-rates.shtml" target="_blank">the rates can be found on the Queensland Office of State Revenue website.</a>
A first-home buyer buying a new median-priced Brisbane home valued at $400,000 would be entitled to the $15,000 first home owner construction grant and would pay no stamp duty (a saving of $5,250).
Before  September 12 the same first-home buyer would have received $7,000 under the first-home owners' grant and the same stamp duty savings.
The Queensland state government has released the following FHOCG summary to assist first-home buyers.
These are the six things you need to know:
<ol>
<li>The FHOCG is for first-home buyers who are buying a newly constructed or off-the-plan property.</li>
<li>The FHOCG replaces the first-home owner grant which was $7,000. </li>
<li>Those first-home buyers who have purchased an existing dwelling will have until October 11 to finalise their contract (to be eligible for $7,000 grant).</li>
<li>First-home buyers signing contracts for new properties before September 12 will receive $7,000, and those signing on or after September 12 will receive $15,000.</li>
<li>The program will be administered within existing arrangements in the Treasury Department.</li>
<li>Major banks and financial institutions will continue to advertise the FHOCG in their loan marketing material, reducing the cost for taxpayers.</li>
</ol>
The following eligibility criteria still apply:
<ol>
<li>It must become your principal place of residence within one year of taking ownership.</li>
<li>It must be your principle place of residence for at least six months.</li>
<li>You must not dispose of all or part of the property within one year after you start to occupy the residence as your home.</li>
<li>The property must be bought or built at a value under $750,000.</li>
</ol>
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The $15,000 Queensland first-home owner construction grant: What first-home buyers need to know

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The Queensland government appears to have followed the lead of its NSW counterpart by scrapping the existing $7,000 first-home buyer grant and replacing it with a $15,000 grant applicable (only) to new property. While it’s not clear as to whether the policy is intended to stimulate first-home buyer activity or the construction industry it won’t matter either way – the policy will fail on both fronts.
It never ceases to amaze me how governments are fixated with new builds. Liberal, Labor, state, federal – every government’s solution to the construction industry’s belly-aching appears to be to stock up on the latest flavour of government grants that are on special for new property.
Memo to policy writers: If your government wants to introduce a policy with genuine intent to support a targeted audience, pause before you reach for your pen, engage with the targeted audience first and find out what they actually want.
Only a small percentage of first-home buyers actually want to live in mass-produced, high-rise apartments with large body corporate fees. The same goes for a house-and-land package far out in the 'burbs, disconnected from employment nodes, social amenities and recreation facilities. The reality is that’s what you get when buying a new property, and with a significantly higher price tag than established properties in the immediate proximity.
Don’t expect to hear members of the construction industry complain about government grants though. Not yet, anyway. See how they go trying to sell the properties. Then they’ll lobby for the grants to be targeted at investors and / or more NRAS projects. Guess what? We investors don’t want these new properties, either – we see much better investment potential in well-chosen established properties.
According to the REIQ, the $21,000 grants for new property at the height of the GFC only attracted 24% of first-home buyers. Subsequent to that, the former Bligh government’s $17,000 Building Boost for new property also had a poor take-up rate; ditto to numerous other state government initiatives around the country targeted at new properties.
There are approximately 8.4 million residential dwellings in this country; buying one is a big decision. Recognising that buyers don’t want their choices restricted to 1.5% – the 130,000 new homes built each year – should be the starting point for designing good policy. This is not rocket science!
Governments would also do well to understand property cycles before developing policies. A buoyant first-home buyer market is a buoyant economy for everyone. Benefits from increased first-home buyer activity extend far beyond people establishing a footing in their own homes. Increased first-home buyer activity is often the first phase of price growth. Initiatives targeted at encouraging first home buyers causes competition in property markets, encourages investors to become more active, and is a proactive way of releasing this country’s heavy reliance on tax-payer funded pensions.
Increasing property transaction volumes creates jobs in real estate and other service industries, improves retail spending, creates more opportunities for blue-collar tradies in the form of renovation projects, and increases loan volumes for banks. Consumer confidence increases across the board. Governments get a clip of the ticket all the way through via stamp duty revenues, GST receipts, and payroll taxes. The cycle starts with the first-home buyer, not the investor. Policies need to be targeted to encourage first-home buyers, not restricting them!
I agree wholeheartedly that we all need a healthy construction industry, however we should not be fooled in to thinking that the solution is in the form of grants for new homes. This country does not have an over-supply of homes. If we did we would see very few properties for sale, much lower vacancy rates, and banks comfortable with approving more development projects. With a decline in the rate of population growth over recent years maybe the question should be asked “do we have more people seeking employment in the sector than current demand requires?” Or maybe governments need to relax our immigration policy. Now that’s a different debate.
Simon Pressley is a buyers' agent for Queensland-based <a href="https://www.propertyology.com.au">Propertyology</a>.
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spressley-sBoeMhannA

Queensland first-home buyer grants targeted at new property miss the mark

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The Queensland government’s plans to fiddle around with property grants provide further evidence that politicians understand little about real estate. 
The plan in the first state budget under new Premier Campbell Newman is to eliminate the grant of $7,000 for first-home buyers who buy established homes and provide a $15,000 gift to first-timers who build a new home. 
This is nothing other than a sop to developers who make political donations. There’s no benefit in it for anyone else, including first-home buyers. 
The clear intention is to push novice buyers into new homes rather than secondhand ones – although buyers who think the issue through will realise they’ll be worse off if they take the bait. 
If you’re a first-time buyer with your heart set on building a new home, then you’ll be happy – you’ve just got a $15,000 handout to do what you were planning to do anyway.
But the research shows that most first-home buyers opt for established property. Why? Because it’s significantly cheaper (and often better located), and most first-time buyers have limited capacity. Their big issue is affordability and the $15,000 doesn’t improve the situation. 
On average, the difference between a new home and a second-hand one is around $70,000. In some places, like Brisbane’s near-city suburbs, the cost differential is well over $100,000. The $15,000 bribe is a pittance compared with that price disparity. 
The politicians will argue that the measure will reactivate the home building industry and create jobs. They’ll probably also peddle the myth that we have a housing shortage, which is what their mates in the development industry keep telling them. 
The reality is that many of Queensland’s major markets have had the opposite problem: over-supply. That’s certainly been true of the Gold Coast, the Sunshine Coast and the Fraser Coast, the three leading population growth areas of the state. 
Some real estate practitioners argue that while there’s an over-supply of dwellings generally, there’s a shortage of affordable dwellings. But this Queensland measure doesn’t make homes more affordable – it does the opposite by pushing buyers towards the more expensive new-home option. 
My analysis of Australian property markets over the years is that government grants have little influence on sales. Prices, interest rates, employment, economic growth and infrastructure development all impact on residential sales, but grants make little difference. 
The last time first-home buyers were out and about in serious numbers was in 2009. They were active because prices had fallen in many markets and interest rates had been slashed – and the combination of the two revolutionised affordability. 
Some commentators attributed the upturn at that time to the federal government’s first-home owners’ grant, but numerous surveys at that time found that the FHOG was a distant third behind lower prices and sharply lower interest rates in terms of what motivated people to buy. 
All types of buyers were active in 2009 – and first-home buyers were only 20-25% of the market. The other 75-80% were buyers not receiving any kind of government grant or stamp duty concession – they were busy because prices and interest rates were attractive. 
The Queensland move is another example of politicians tinkering at the edges of problems like affordability and home construction levels. 
If politicians genuinely want to make a meaningful difference, which I doubt, they can achieve it by addressing the core problem: the huge component of the cost of new dwellings attributed to government taxes, charges and red tape. 
We’re unlikely to see anything along those lines from the Queensland government – or any other government across Australia.
Terry Ryder is the founder of <a target="_blank" rel="nofollow" href="https://www.hotspotting.com.au/">hotspotting.com.au</a> and can be <a target="_blank" rel="nofollow" href="https://www.twitter.com/hotspotting">followed on Twitter</a>.
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Queensland government’s first-home buyer change nothing but a sop to developers: Terry Ryder 

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Former vitamin king Vaughan Bullivant, the maverick Queensland millionaire and owner of the Daydream Island Resort &amp; Spa, has listed the Georgian-style mansion he built for his former wife in the Brisbane bayside suburb of Scarborough.
The opulent three-level, six-bedroom residence at 118 Prince Edward Parade features palm trees and a salt-water swimming pool with views over Moreton Bay from the master bedroom.
It is one of two neighbouring mansions constructed by Bullivant in 2000 following the sale of his Nature's Own vitamin business for $137 million to FH Faulding in 1999.
Bullivant started the business in an old tin shed on the Redcliffe Peninsula in 1995, transforming it into a major packager and wholesaler with a turnover of several million dollars a year.
The two properties came to be known as the "His and Hers" mansions – one occupied by Bullivant and the other by his former wife, Carmel.
The couple divorced in 2004.
The house is being offered for sale via tender by Ray White Ascot principal Dwight Ferguson, with the Australian Financial Review reporting that it has a replacement value of $10 million.
The Georgian-style property is located on more than 4,000 square metres of beachfront land with 70 metres of beach frontage enjoying panoramic views over Moreton Bay.
“I will be continuing to live in my home next door, but as most of my children have grown up and moved on I think it’s a waste for it to be largely unused,” says Bullivant.
“As I look forward to retirement I hope the next person enjoys it to the full.”
The property includes a large resort-style heated salt water lagoon pool, a full-sized tennis court with night lighting and a tennis pavilion, polished feature timber floors, a large study/library and a media room.
The master bedroom takes in the entire width of the home, including a large private balcony with unrestricted views of Moreton Bay and Moreton Island.
“There’s also a private sunken parents’ lounge, bar, large marble spa with floor to ceiling bay windows,” says Ferguson.
The tender campaign closes on October 18.
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Brisbane entrepreneur Vaughan Bullivant lists extravagant Scarborough house next door

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Moranbah, the heart of coal mining activity in Queensland's Bowen Basin region, was recently added to a list of WA and Queensland mining towns deemed by Westpac to be risky “single-industry” towns.
This means that investors will find it harder to get loans to purchase investment properties in Moranbah, with the bank deeming the town to have a potentially unsustainable housing market.
Its inclusion comes shortly before RP Data calculations that placed <a href="/news">Moranbah top of a list of regional Queensland towns where it is cheaper – by an average of $4,000 – to buy a house than rent.</a>
However, Westpac will now discount rental income listed as security on investor mortgage applications by 40%, taking into account the risk of rising vacancies.
“An application with security in a single industry town will have all rental income assessed at 60%,” says the bank in a note to mortgage brokers.
The new requirement is in addition to the rule that a 30% deposit is required in these postcodes for property to avoid the added burden of lenders mortgage insurance (LMI) – well above the usual 20% deposit requirement.
The policy changes apply to two investment loans – Westpac’s variable rate Equity Access Loan (EAL) and its fixed rate Investment Property Loan (IPL).
Westpac spokesperson Danny Johns told Property Observer recently the decision to add Moranbah and other mining towns to the list is due to concerns that in these locations the mining boom is driving house prices and rental yields to relatively unsustainable levels.
As an example, he says house prices have jumped 44% in Moranbah with yields at 13.5%, with property valuers telling Westpac that these figures are not sustainable.
Other towns added to the list recently include another Queensland coal mining town Dysart in the Isaac region south of Moranbah and Port Hedland and the East Pilbara region.
The full list of new towns included on Westpac’s list of “single-industry” postcodes are in Queensland:
• <a href="/news">Blackwater </a>(4714)
• <a href="/news">Moranbah </a>(4744)
• <a href="/news">Dysart </a>(4745)
• <a href="/news">Middlemount </a>and <a href="/news">May Downs</a> in the Isaac region (4746)
And in Western Australia:
• <a href="/news">Roebourne </a>(including <a href="/news">Karratha</a>, <a href="/news">Baynton</a>, <a href="/news">Bulgarra</a> and <a href="/news">Pegs Creek</a>, 6714)
• <a href="/news">Port Hedland</a> (including <a href="/news">South Hedland</a>, 6721)
• <a href="/news">East Pilbara</a> (6753)
Real Estate Institute of WA president David Airey says the changes probably reflect a view from within the bank that “housing prices and rental returns in particular, in places like Karratha, Port Hedland, South Hedland and Newman are unsustainable”.
“The state government is anxious to address affordability in the Pilbara, and while this won’t happen overnight it’s clear that housing demands will be better met over the next few years.”
Airey says Westpac has the right to “calibrate its business model as it sees fit”.
“But it would be a pity if the result meant that investors were less inclined to supply much needed housing in the state’s northwest. In some ways it’s a catch-22 situation,” he adds.
Real Estate Institute of Queensland (REIQ) chief executive Anton Kardash says lending criteria for remote areas has been restricted for some time, given these areas are often reliant on single industries for employment.
“Investors in these areas need to be aware that lenders will require a larger deposit dependent on the element of risk lenders attribute to buying property in a specific region.”
Jane Slack-Smith, director at Investors Choice Mortgages, says the change in policies indicate that Westpac is less keen to lend in mining locations.
“The bank is discounting rental income to allow for vacancies,” she tells Property Observer.
Slack-Smith says Westpac is implementing these changes in places like Karratha despite her clients being able to ask rent of $2,000 per week over a five-year lease.
“Some lenders will take 100% of rental income, but Westpac only takes 60% of income.”
“Some lenders don’t have postcode restrictions,” she says.
For advice on navigating hotspots, download our free eBook: <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-tools-for-getting-through-the-hotspot-tipping-maze" target="_blank">Tools for Getting Through the Hotspot Maze.</a>
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