ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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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Property developer Bruce Tilley has listed his <street>Hedges Avenue</street>, <place><placename>Mermaid</placename><placetype>Beach</placetype></place> house. It's a tall house on a narrow block. The Inarc Design house was finished in 2008 to specifications that it be a high-quality residence with rock-star quality, according to its listing in the architecture gallery on the <a href="https://www.architecture.com.au/awards_search?option=showaward&amp;entryno=2009046593" target="_blank">Australian Institute of Architects website.</a>
It was noted on completion that the client had a "no pockets in a shroud philosophy" and set the budget as required to enable the desired result.
Ross Spencer and Daniel Dziadyk worked on the project, which was built by Vitto Ulliana. The interiors were undertaken by Sue Hiscox, with Tony Dowthwaite responsible for its lighting.
The McGrath selling agent Rob <city>London</city> says it’s a landmark on the Gold Coast's premier beachfront street. He suggests the four-level residence blends powerful architecture with a sleek interior ambience from its dramatic black granite foyer inwards towards the beach level entertaining area with billiards and bar, along with eco fireplace in its beachfront lounge.
It comes with an opulent master bedroom with dressing room and spa ensuite and one king bedroom suite per level. Its oak flooring was recycled from a French chateau.
There's a basement six-car garage with turntable.
Tilley, who recently turned 60, is the managing director of the First State Group, which was founded in 1992 and mostly specialises in the construction of commercial, residential and industrial property.
Offers close July 11. The 405-square-metre block cost $1.4 million in 2000.
 
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jchancellor-FAypfDUnLy

No-expenses-spared Mermaid Beach property hits the market  

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Another of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/receivers-list-mark-mcivors-former-double-bay-residence-teralla/2012050654572">Mark McIvor</a>’s prestige Gold Coast property holdings has been listed under receiver’s instructions.
It’s a 597-square-metre Palm Beach vacant block.
It’s been listed by Ray White Palm Beach agents Jason Taylor and Danny Fritz for June 2 auction.
“Receivers have been appointed to this prime beachfront property with instructions to sell,” their marketing says.
It comes with 10-metre beach frontage between Fourth and Palm Beach avenues.
It last traded in 1991 at $575,000, seemingly as part of a larger lot at the time.
It unsuccessfully went to auction last August through Ray White Mermaid Beach agent Troy Dowker.
 
 
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Mark McIvor’s Gold Coast Palm Beach vacant block listed by receivers: Title Tattle

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The Breakfree founder tourism entrepreneur Tony Smith – whose global financial crisis share investment tumble prompted a hasty exit from his Mermaid Beach mega-holding – has made a $7 million-plus comeback on the Gold Coast beachfront strip.
Smith, who now runs two luxury resorts in Bali, has bought a 1,220-square-metre holding on Surf Street, which runs off Albatross Avenue.
He told the Gold Coast Bulletin the property would be the family's holiday house when they visited Australia.
"I have no idea if the market is at the bottom but can't imagine that it can go much lower," he said.
"We are now buying at 1998 to 2000 prices (the last boom started in 2001), which was at the end of an eight to 10-year bust."
Smith made national headlines during the property boom for wanting to build the "the world's biggest bloody house" along Hedges Avenue, having consolidated five properties.
But the plans were thwarted when MFS, now known as Octaviar, got caught in the GFC, with Smith  among those hurt by the early 2008 collapse.
With Gold Coast prices remaining surprisingly resilient well into the GFC, his partially half-built Hedges Avenue mega-mansion was sold to the now failed IT tycoon Daniel Tzvetkoff for $27 million.
The depths of the coast's eventual property collapse emerged when <a href="https://www.propertyobserver.com.au/residential/the-8-biggest-losses-on-mermaid-beach-s-millionaire-s-row-show-no-post-gfc-recovery-in-sight/2011113052610">Tzvetkoff hit financial strife, and the still unfinished house was sold to Mitchell Drilling founder Peter Mitchell for $17 million</a>.
Smith, who is a non-resident Australian, now lives in Bali and manages properties at Seminyak and Uluwatu, under the Semara Resort and Spa brand.
Agent John Natoli at McGrath negotiated the sale after the property was passed in for $6.9 million. It sold within 24 hours for between  $7 million and $7.5 million.
It is the Smith family's second property purchase along the strip, as his wife Simone spent $3,025,000 on a beachfront unit  in late 2011.
 
 
 
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Breakfree founder Tony Smith makes $7 million-plus Mermaid Beach comeback: Title Tattle

awalsh-7Ub9EypybQ

Sunshine Coast land values down 5% last year, with Dicky Beach beating out Battery Hill as worst performer

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A four-townhouse complex at Robina – with an estimated $3 million worth and estimated $148,000 net annual return – is this year's RSL Art Union's annual Golden Treasure $10 lottery prize.
Ticket sales close on May 22, before the draw on May 30. The total number of tickets available for $10 each is 1.4 million.
"That will be a life-changing moment for someone,'' RSL Chief Executive Chris McHugh says.
"Some may choose to retire, living in the main residence while renting out the remaining three.
“You can rent out all of them and earn close to $150,000 per year, sell them each off individually or keep one or two for the extended family.
“It will set you up for life,'' McHugh says.
The main townhouse has four bedrooms each with en-suite, a study, two living areas, a gourmet kitchen, a pool and barbeque and a lift to reach all four levels.
The remaining buildings have three bedrooms plus a study, two bathrooms and another toilet. They all share a pool and barbecue.
The entire townhouse complex has an estimated $3 million value, plus $312,955 in furniture.
The RSL provides services for war veterans including housing, respite accommodation and a range of pension, advocacy and welfare services.
It paid $900,000 in early 2010 for the 2,300-square-metre holding.
Just along Andromeda Parade, it also bought a 2,300-square-metre vacant lot in early 2010 for $820,000, which will presumably be a future prize.
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RSL Art Union lottery prize turns Gold Coast Robina foursome townhouses into investor gold 

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Who said I don’t read my mail!  I might be a bit tardy in my replies.  OK, outright ignorant at times, but <a href="https://www.propertyobserver.com.au/queensland/despite-the-building-boost-10-fewer-houses-built-across-queensland-and-how-premier-newman-can-start-the-uptick-michael-matusik/2012050854616">our post last week</a> got a high proportion of direct email replies questioning the impact of Form 27c on commissions and the market in general.  A few poor souls think that Form 27c has no bearing on valuation.
For those who don’t know, sales commissions are fixed in Queensland at 5% on the first $18,000 and then 2.5% thereafter, plus GST.  It is “illegal” to charge the seller commission above this amount.
Form 27c – as I understand it – is simply a disclosure by the selling agent to the buyer of all fees or favours that are incurred as the result of a sale.  It discloses actual commissions paid, marketing fees/costs paid, management overriders, referrals paid and to whom; and even introductions to other parties (i.e. finance brokers, solicitors, etc) that could assist the buyer –  even if it was a verbal or written reference with no fees paid.   Any party to a real estate sale transaction must be identified, and the remuneration or otherwise identified.
I know it is agony reading such legal-speak but bear with me!
All agents charge the statutory maximum or less as the commission for the transaction.  A number of agents charge their marketing costs on a per transaction basis.  Most sellers of suburban residential real estate are either charged an advertising cost before sale, or some agents are happy to carry this cost on the basis they are paid from sale proceeds.  This can be a higher amount than a pre-sale advertising cost due to the risk to the agent of no sale. However, it’s a great benefit to the seller because they don’t pay unless they “get a result”.
In a buyer’s market, sellers should be budgeting on about 2% of the end sale price for presenting and promoting their property.
In fact, today the normal budget for a sales campaign (including commission, advertising and marketing costs) of a residential property, should be 5% to 6% of the likely sale price.  The commission element is 2.6% on a $500,000 i.e. $13,000.  It’s not hard to spend another $15,000 on marketing and all other costs of sale.
In short, valuers are NOT considering the normal costs of sale.  Too many think (or the banks/mortgage insurers think on their behalf) a property should sell without marketing.
For local property observers, yesterday Place released research showing 450 new apartments (totalling something like $230 million of sales) were reported sold during the March quarter.  Putting aside when these sales were actually made, what Place’s work doesn’t outline is the typical cost per sale.
Most high selling new apartment projects are incurring advertising and marketing costs of between $25,000 and $30,000 per apartment.   True, the smarter in the pack have lower costs per sale.  But most don’t.  In some instances promotional fees exceed $50,000 per apartment.
And it is only going to get more competitive if Place’s research rings true, as there are now 48 major apartment projects across inner Brisbane with a total of 2,100 new apartments for sale.  Importantly, 36 of these projects are either under construction or completed.  These apartments will need to be sold.
In short, Form 27c is a joke because it is now being wrongly used to determine valuations.  Its application does not reflect the current market conditions or how real estate business is really done.
If I want to spend $1 or $1million to market my property, how does this relate to the property value?
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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michaelmatusik-49YzLvdmNv

Marketing costs don’t reflect a property’s value, and Queensland’s form 27c is a joke

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Queensland Valuer-General Neil Bray says the Gold Coast City Council area’s land values have fallen by 8% overall since the last valuation in 2011.
Residential values continued to fall in most localities within the local government area, Bray says.
“Generally land values in the central coastal areas of Surfers Paradise and Broadbeach have declined in value by almost 50% since the 2008 peak,” he says.
Decisions on future planned construction projects along with weakening retail, industrial and tourism markets have had negative flow-on effects in spending and growth within the wider community, Bray notes.
Of the 73 localities in the Gold Coast City region, <a href="https://www.propertyobserver.com.au/queensland/the-43-worst-performing-gold-coast-localities-in-2011/2012032954070">43 went down in value</a>, 28 had no change in value and <a href="https://www.propertyobserver.com.au/queensland/the-only-two-gold-coast-suburbs-where-values-have-gone-up-in-2011/2012032954069">two increased in value</a>.
The area had an overall decrease in median values of 5.1%, from $247,500 to $235,000.
<table border="0" cellspacing="0" cellpadding="0" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="111">
Residential localities
</td>
<td valign="top" width="133">
Previous median value as at 1/10/2010 ($)
</td>
<td valign="top" width="139">
New median value as at 1/10/2011 ($)
</td>
<td valign="top" width="116">
Change in median value (%)
</td>
</tr>
<tr>
<td valign="top" width="111">
Advancetown
</td>
<td valign="top" width="133">
188,500
</td>
<td valign="top" width="139">
188,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Bonogin
</td>
<td valign="top" width="133">
242,500
</td>
<td valign="top" width="139">
242,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Broadbeach
</td>
<td valign="top" width="133">
590,000
</td>
<td valign="top" width="139">
590,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Burleigh Waters
</td>
<td valign="top" width="133">
285,000
</td>
<td valign="top" width="139">
285,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Coombabah
</td>
<td valign="top" width="133">
205,000
</td>
<td valign="top" width="139">
205,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Coomera
</td>
<td valign="top" width="133">
215,000
</td>
<td valign="top" width="139">
215,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Gaven
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Gilston
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Highland Park
</td>
<td valign="top" width="133">
212,500
</td>
<td valign="top" width="139">
212,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Hope Island
</td>
<td valign="top" width="133">
265,000
</td>
<td valign="top" width="139">
265,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Kingsholme
</td>
<td valign="top" width="133">
64,000
</td>
<td valign="top" width="139">
64,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Maudsland
</td>
<td valign="top" width="133">
185,000
</td>
<td valign="top" width="139">
185,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mermaid Beach
</td>
<td valign="top" width="133">
680,000
</td>
<td valign="top" width="139">
680,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mermaid Waters
</td>
<td valign="top" width="133">
330,000
</td>
<td valign="top" width="139">
330,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Merrimac
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Mudgeeraba
</td>
<td valign="top" width="133">
230,000
</td>
<td valign="top" width="139">
230,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Nerang
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Oxenford
</td>
<td valign="top" width="133">
205,000
</td>
<td valign="top" width="139">
205,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Pacific Pines
</td>
<td valign="top" width="133">
197,500
</td>
<td valign="top" width="139">
197,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Pimpama
</td>
<td valign="top" width="133">
187,500
</td>
<td valign="top" width="139">
187,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Reedy Creek
</td>
<td valign="top" width="133">
242,500
</td>
<td valign="top" width="139">
242,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
South Stradbroke
</td>
<td valign="top" width="133">
405,000
</td>
<td valign="top" width="139">
405,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Tallai
</td>
<td valign="top" width="133">
237,500
</td>
<td valign="top" width="139">
237,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Upper Coomera
</td>
<td valign="top" width="133">
185,000
</td>
<td valign="top" width="139">
185,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Varsity Lakes
</td>
<td valign="top" width="133">
212,500
</td>
<td valign="top" width="139">
212,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Willow Vale
</td>
<td valign="top" width="133">
395,000
</td>
<td valign="top" width="139">
395,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Wongawallan
</td>
<td valign="top" width="133">
103,500
</td>
<td valign="top" width="139">
103,500
</td>
<td valign="top" width="116">
0
</td>
</tr>
<tr>
<td valign="top" width="111">
Worongary
</td>
<td valign="top" width="133">
195,000
</td>
<td valign="top" width="139">
195,000
</td>
<td valign="top" width="116">
0
</td>
</tr>
</tbody></table>
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Twenty-eight localities on the Gold Coast with values going nowhere

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The Queensland building boost began under the previous state government last August, with the usual fireworks and rockets, and a promise of help for the housing industry.  Oh…..that is way too tame; it was really a political wedge to shut up the development industry.  And it worked a treat.

The grant was promoted as a panacea that would lift demand and help get more new development underway.  Too many believed that would be the case, with some – even in the development industry – calling for the boost to be extended.  And it was.

To facilitate the anticipated building blitz, the then government set aside $140 million to fund the boost.  That’s help for up to 14,000 housing starts across the state per $10,000 grant.

But as we have constantly reiterated, building grants and the like are not always the answer.  Often, as with the first-home owners’ grant, they can be inflationary and/or fail to provide the promised outcome.

The boost finished at the end of April, and unfortunately, along the way, housing starts in Queensland had dropped.

In fact, the latest ABS building approval figures, out this Monday, show that Queensland dwelling starts totalled just 26,515 for the year ending March, compared with 29,210 new housing commencements for the 12 months to March 2011.  So we got 10% fewer houses built across Queensland, despite the boost.

While there was a flurry of applications in Queensland as the boost drew to a close, the number of dwelling starts was disappointing, to say the least.

As at April 19 – the latest figures we can get – only 8,929 building boost applications had been received by the Queensland government, and 6,367 approved.  That’s just $64 million worth of grants out of the $140 million allocated.

So what can be done?

Well, dropping interest rates isn’t the answer.  I wouldn’t be surprised if Christmas crackers featured a new lame joke this year.  Q: “How many interest rate drops does it take to stimulate the housing market?”  A: “More than you have available.”  OK, I won’t give up my day job!

It will also take much more than dropping the sustainability declaration form and reinstating the stamp duty rebate on second-hand Queensland property purchases to get things moving again.

In fact, we have argued that what Queensland should do to help nudge new housing starts is to <a href="https://www.propertyobserver.com.au/tax/queensland-needs-stamp-duty-reductions-to-level-the-playing-field/2012022853606" target="_blank">remove stamp duty off new sales</a> and keep the existing taxes on established property as they exist today.  However, this would involve breaking an election promise and Queensland maybe isn’t in a budget position to do this yet.  But it will need doing – the sooner the better –  and hopefully before the LNP’s second term.

So what else can be done in the meantime?

The first bit of property-related legislation that should be ripped up is the Property Agents and Motor Dealers Act.  The whole concept of PAMDA was flawed from the start.  Twelve years have now passed since it was introduced and it needs immediate repeal.  In today’s internet world, it is an archaic piece of legislation.

In particular, and if nothing else is done during the LNP’s first term, please burn Form 27c, which requires all real estate agents in Queensland to list how much they charge for commissions.  Valuers, on instructions from the mortgage insurers and banks, are deducting the amount the agent is paid in excess of the standard Queensland sale fee of 2.5%.  The 27c is a product of the Gold Coast fly-in, fly-out marketing of 25-plus years ago.  It only applies to Queensland and, <a href="https://www.propertyobserver.com.au/developments/a-tale-of-two-queensland-buildings-an-investment-property-s-worth-should-be-determined-by-income/2011111552374" target="_blank">as we argued late last year</a>, the distribution of costs should have no bearing on the end value of a product.

PAMDA, and especially Form 27c, are deterrents to investment in Queensland.  If the state government really wants to regulate real estate and development, then all parties involved in the property industry – architects, planners, builders, lawyers, quantity surveyors etc. –  should be subject to disclosing their costs.

The state has no right to dictate a maximum selling fee on property, just like they have no right to dictate what a lawyer or architect charges for service.

The second thing that needs be done is reinstating state government subsidies to local government for municipal infrastructure. Queensland’s mining industry started 40-odd years ago; it isn’t a recent occurrence.  The wealth created from such activity used to be redistributed via infrastructure subsidies.  This made residential development relatively cheap – well, cheaper than interstate.  This was a key competitive advantage for Queensland.

In short, cheaper new housing encouraged interstate migration to Queensland.  It created employment and wealth, too, and was all based on subsidised municipal infrastructure.

In order to close a budget gap, Queensland Labor stopped these subsidies.  This made the price of new development land very expensive as it bore the full cost of infrastructure associated with it (and often beyond!).  Council charges on land rose dramatically too.  This, more than anything, is killing new residential development in Queensland.  It will remain dead unless infrastructure charges are again subsidised.

The third thing that needs doing – and for mine is why Queensland lost its AAA rating and had so many “budget gaps” – is to cut the waste. The LNP needs to remove “zombie projects”.  A commissioned audit needs to occur, but in essence many of the things that were started in the lead up to the past state election, because “they were a really good idea at the time” (i.e. they bought votes), need to be canned.

The zombie list should include regional plans; state-based planning operatives and many of Queensland’s building/planning laws.  Why, for example, can a granny flat in New South Wales be rented out to anyone, but in Queensland it must be occupied by a direct dependant?  Oh, I could create a list as long as your arm when it comes to irrelevant Queensland property-related legislation.

So in short, Can-do needs to change to Undo. 

In order to get things going, Premier Newman needs to undo quite a lot of things.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition.  Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>.  Think Matusik brings together expert opinion and select property opportunities.
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Despite the building boost, 10% fewer houses built across Queensland, and how Premier Newman can start the uptick

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By coincidence two Noosa properties that virtually bookend the national park have been listed for sale.
One is a Little Cove holding, the other is at Sunshine Beach.
<img src="/images/stories/noosabookends.jpg">
Both vacant lots are listed through Peter Butt at Richardson &amp; Wrench Noosa.
The 9,942-square-metre Seaview Terrace, Sunshine Beach holding, known as Lion’s Head, last sold in 2002 for $4.35 million and comes with $8 million hopes. It comes with a proposed ultra-contemporary designed residence by Gavin Maddock.
The Park Road, Little Cove holding has a $4.25 million asking price, having cost $1.75 million in 1999.
It’s the original site of Coco's restaurant, consisting of two lots totalling 1,131 square metres, which Butt suggests are suitable for redevelopment as two houses or a single extraordinary home, subject to council consent.
 
 
 
 
 
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Two Noosa properties bookending national park listed

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The penthouse in the Gold Coast beachfront Jade complex has been finally offloaded by the mortgagee at somewhere between $6.5 million and $7 million, compared with its boomtime ask of $20 million plus.
It was almost a done deal too back in late 2006, with developers the Bezzina Group claiming they'd be setting an record Australian apartment price after a $20 million-plus sale price was agreed for the penthouse.
Developer Mick Bezzina, whose developments stretched over the past two decades far from his Sutherland Shire stamping ground, suggested terms were agreed with an intending overseas buyer.
But the paperwork never got to finalisation, and now six years on it’s been sold following its recent Ray White auction.
The late 2006 touted sale of the three-level unit would have snared the record from the $16.85 million off-the-plan sale in the Juniper development Soul, on the Gold Coast, set in October 2006.
The Soul buyer, said to be a company director in the construction services industry who bought the home just 24 hours after visiting the display centre,<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/residential/gold-coast-soul-penthouse-on-market-as-it-nears-overdue-completion/2012042354395" target="_blank"> is seeking offers through Ray White, with construction nearing its conclusion</a>.
In Sydney Aussie founder John Symond's Walsh Bay sub-penthouse had held the 2006 record when it sold for $16.1 million in September 2006.
The Walsh Bay apartment has 520 square metres of living space plus a 140-square-metre balcony and two boat berths. The Walsh Bay sale broke the $15 million record set by broadcaster John Laws for an apartment at Woolloomooloo Wharf in 2004.
“People see value at prices now,” the Ray White agent Andrew Bell said, commenting on the Jade penthouse sale last week.
Title Tattle recalls the party that accompanied Bezzina's onsite launch in December 2006 in the then near-completed $96 million complex.
The Bezzina Group paid $17.5 million for the site four years earlier and had Bezzina's in-house architect Vic Lake worked with Brisbane architect Scott Peabody from Planit Architecture on the design of the 15-level, 16-pool complex set on the Northcliffe Terrace, close to Q1.
It comes with a distinctive Ticu Gold blade on its roadside exterior with the photovoltaic cells embedded in the blade envisaged as providing a power source for the common property.
The party went late into the night as Bezzina had truly capitalised on the then bullish Gold Coast market with all but two – priced at $5.9 million – of the 12 apartments reportedly sold pre-completion, with prices reportedly starting from about $5 million plus each.
It had also sold both the ground-floor beach bungalows for about $12 million each.
The world No. 4 ranked golfer Adam Scott was the known only off-the-plan buyer. He paid $4.4 million off the plan in 2004, and during his many attempts to sell over the past few years he has dropped his indicative asking price to below $3 million for the garden apartment.
The only time a price has gone up when Toni Lewis, the widow of Bernard, the Lewis Land Corp founder, spent $5.5 million on her apartment in 2008. The unit fetched $4.7 million off the plan in 2004 when sold by the Bezzina Group.
Late last year Toni Lewis's daughter Marnie picked up a unit at $2.5 million, which was the cheapest sale by the mortgagee, who took control in November 2008 with some six off-the-plan settlements never taking place.
All 16 units now sold and the gross proceeds total about $70 million.
The Jade penthouse sold through Ray White Paradise Waters agents Michael Willems and Robert Graham.
 
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