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

Joel Robinson

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

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

Lowe Living unveils Middle Park apartment development

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

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

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

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

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

<html><body>
The major acceleration of growth in the Queensland mining super-hotspot Gladstone is over, according to property investment advisor Michael Matusik.
He says while there is still some growth to be had, the major acceleration is now finished and investors might have missed the boat.
“Gladstone is a good example of a market that’s when everyone wants to buy now,” Matusik told Smart Property Investment.
“Yes, you can buy a good asset in that cycle, but the generic push behind the market is probably exhausted and is slowing down the acceleration. You generally want to buy when the acceleration is beginning to happen.”
Matusik put Gladstone at between nine and 12 on the property investment clock, meaning growth is slowing and values could stagnate.
Hotspotting.com.au founder Terry Ryder echoed Matusik, saying the savviest of investors were already in the market 12 to 18 months ago and are now selling up leading to high sales volumes.
“If you buy there now you may still get some growth, but really you’ve missed a lot of the growth that’s happening in Gladstone over a five year time span... An investor who does proper due diligence and research would have identified Gladstone in advance of the growth we’ve seen over the last 12 to 18 months,” Ryder says.
He says there were early indicators of the size of the mining projects in the area which led to his early identification of the town as a hotspot.
“I have included Gladstone going back six years, but certainly two to three years ago, in my reports.”
“What a smart investor will be doing, such as in the case of Gladstone, is seeing the media is talking about it and that there’s been a 20% price rise… and then looking for the next Gladstone instead of buying in.”
“But now it’s no longer a future hotspot it’s already hot.”
He says there are numerous upcoming mining projects which give ample opportunity to get in ahead of this curve.
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awalsh-7Ub9EypybQ

Gladstone's mining-related property boom over: Michael Matusik

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Unit prices are pricier in the property investment hotspot Gladstone, Queensland than ever before, with units over $500,000 now representing more than a quarter of all unit sales, compared with 3% for this price point two years ago.
The percentage of units sold priced between $450,000 and $500,000 also increased dramatically over the past two years, from 5% to 20% of units in the region, according to PRDnationwide. 
"Unprecedented growth in both sales activity and capital values during [thje past five years] has driven the market to a full recovery, bucking the nation’s unrelenting trend of diminishing sales volumes and softening capitalvalues since the onset of the global financial crisis," says the PRDnationwide analysis.
<img src="/images/stories/2012/08/prdaug9.gif">
The PRDnationwide report also shows that after slumping during the GFC, Gladstone unit sales volumes have recovered to pre-GFC levels. This is not the case for <a href="https://www.propertyobserver.com.au/queensland/gladstone-house-and-land-prices-rising-but-sales-volumes-below-pre-gfc-peak-prdnationwide/2012080755900" target="_blank">Gladstone house and land sales</a>, as they are yet to return to their pre-GFC peak.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/prdaug92.gif"><img src="/images/stories/2012/08/prdaug92thumb.gif"></a>
For more, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom">Residential Property Investment Amid Queensland's Resources Boom.</a>
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cknowlton-QnEa6ntUYP

Units pricier than ever in Queensland hotspot Gladstone

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The most actively traded suburb in the Gladstone region of Queensland is <a target="_blank" href="/news">Clinton</a>, with 64 house sales in the six months to March, according to a PRDnationwide report on the region.
However, this is a 33% drop in the number of house sales in the suburb from the six months to March 2011.
<a target="_blank" href="/news">Gladstone City </a>is the most actively traded unit market in the area, with 29 sales. This is also down significantly (-45%) from the six months to March 2011.
The only suburb in the top five most actively traded for house or unit sales that improved significantly over last year was <a target="_blank" href="/news">South Gladstone</a>, which is the strongest-performing suburb in the city, according to RP Data. The unit median price went up 19.2% over the last year while the house median went up 23.9%.
An alumina plant was built in the area in 1996,<a target="_blank" href="https://www.propertyobserver.com.au/queensland/gladstone-s-mining-is-booming-but-property-market-far-from-unified-in-queensland-hotspot/2012080755742/Page-2"> and the impact is still seen in South Gladstone.</a>
<img src="/images/stories/2012/08/prdaug93.gif">
 
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Clinton most active house market in Gladstone region, but sales volumes down 33% in a year: PRDnationwide

<html><body>
The Queensland location Gladstone, 100 kilometres south of Rockhampton, is a much-touted mining boom hotspot.
But how much do interstate investors really know about the area?
Gladstone is a mining boom town with a vast number of liquefied natural gas (LNG) and coal projects in development.
Santos and Petronas are developing the multi-billion dollar Gladstone Liquefied Natural Gas project, which will process coal seam gas into liquefied natural gas. The project is anticipated to provide 6,000 jobs during construction.
Australia Pacific LNG is a joint venture between Origin and ConocoPhillips to build an LNG plant at Laird Point on Curtis Island. The project will create an average of 10,300 jobs for each year over the 10-year construction period, reaching a peak of 18,600 direct and indirect jobs.
There’s Gladstone LNG, a plant at Fisherman’s Landing in the Port of Gladstone, capable of producing 3 million tonnes of gas per year. It will hire 150 people during construction and have 36 permanent employees.
Queensland Curtis LNG is developing a liquefaction plant on Curtis Island, just off Gladstone, with an capacity of 7.4 million tonnes per year. Construction of the project will provide 3,00 to -4,000 jobs and 800 permanent positions.
And there are plenty of other project mooted and in the works. Property investment experts are spruiking the area as a property hotspot due to the volume of mining activity. 
The Real Estate Institute of Queensland predicts the population of Gladstone will double by 2031.
ANZ’s Australian Housing Chartbook found property prices in Gladstone increased nearly 16% for the year ending March 2012, outperforming all other areas in the state. In April, Queensland Valuer-General Neil Bray found land values in the area had increased 19% over the year.
In Property Observer’s recent analysis of hotspots touted in 2011, <a href="https://www.propertyobserver.com.au/hotspots/the-21-hotspots-that-weren-t/2012072955568" target="_blank">we found Gladstone was one of the only celebrated areas to have lived up to expectations. </a>
However, <a href="https://www.propertyobserver.com.au/queensland/gladstone-property-hotspot-facing-headwinds-with-investor-demand-grossly-outstripping-owner-occupier-demand-prdnationwide/2012080655882" target="_blank">the most report on Gladstone from PRDnationwide</a> notes there are a number of headwinds facing investors in the area.
PRDnationwide predicts property and land prices will begin to ease egin to ease once new and more affordable housing projects are completed, such as Devine's $1.4 billion Riverstone Rise community, which is being completed in stages over the next 15 to 20 years.
The project is in Benaraby, approximately 20 kilometres south of Gladstone City, and is being built with the aim of providing an affordable and diverse alternative to the offerings within Gladstone City.
The PRDnationwide report says that high rental yields can still be achieved in the current market, but warns investors to be diligent to not only buy at the right price, but to buy something that has competitive tenant appeal.
“Vacancy rates have been quiet turbulent during the first half of 2012, as investor demand grossly outstrips owner occupier demand,” says the report.
“Uncertainty surrounding rental vacancy is exacerbated by an ever expanding fly-in, fly-out workforce, with many workers vacating to mining/construction campsites.
“As a result, many investors are forced to make sizeable revisions to their rental price expectations in order to secure a tenant on a reasonable lease. Given the current median prices recorded across all markets, there is no doubt that some investors, particularly those who entered the market in 2012, paid a premium on their investment with a heightened expectation of strong cashflow.”
In Gladstone, the residential area is made up of nine suburbs: Clinton, Glen Eden, Kin Kora, New Auckland, South Gladstone, Sun Valley, Telina, Toolooa and West Gladstone.
<table border="1" cellspacing="0" cellpadding="0" width="417"><tbody>
<tr>
<td width="106" valign="top">
Suburb
</td>
<td width="91" valign="top">
Population 2006
</td>
<td width="94" valign="top">
Popualtion 2011
</td>
<td width="63" valign="top">
% price change  over last  year units
</td>
<td width="63" valign="top">
% price change over last year houses
</td>
</tr>
<tr>
<td valign="top">
Clinton
</td>
<td valign="top">
5734
</td>
<td valign="top">
5917
</td>
<td width="63" valign="top">
-2.8
</td>
<td width="63" valign="top">
20.5
</td>
</tr>
<tr>
<td valign="top">
Glen Eden
</td>
<td valign="top">
965
</td>
<td valign="top">
1969
</td>
<td width="63" valign="top">
NA
</td>
<td width="63" valign="top">
5.9
</td>
</tr>
<tr>
<td valign="top">
Kin Kora
</td>
<td valign="top">
2606
</td>
<td valign="top">
2686
</td>
<td width="63" valign="top">
NA
</td>
<td width="63" valign="top">
16.9
</td>
</tr>
<tr>
<td valign="top">
New Auckland
</td>
<td valign="top">
4027
</td>
<td valign="top">
4711
</td>
<td width="63" valign="top">
-55.1
</td>
<td width="63" valign="top">
19.5
</td>
</tr>
<tr>
<td valign="top">
South Gladstone
</td>
<td valign="top">
3120
</td>
<td valign="top">
3626
</td>
<td width="63" valign="top">
19.2
</td>
<td width="63" valign="top">
23.9
</td>
</tr>
<tr>
<td valign="top">
Sun Valley
</td>
<td valign="top">
1231
</td>
<td valign="top">
1469
</td>
<td width="63" valign="top">
NA
</td>
<td width="63" valign="top">
NA
</td>
</tr>
<tr>
<td valign="top">
Telina
</td>
<td valign="top">
2087
</td>
<td valign="top">
2179
</td>
<td width="63" valign="top">
NA
</td>
<td width="63" valign="top">
8.3
</td>
</tr>
<tr>
<td valign="top">
Toolooa
</td>
<td valign="top">
1148
</td>
<td valign="top">
1164
</td>
<td width="63" valign="top">
NA
</td>
<td width="63" valign="top">
16.1
</td>
</tr>
<tr>
<td valign="top">
West Gladstone
</td>
<td valign="top">
5302
</td>
<td valign="top">
5201
</td>
<td width="63" valign="top">
-1.1
</td>
<td width="63" valign="top">
14.1
</td>
</tr>
<tr>
<td valign="top">
Median
</td>
<td valign="top"></td>
<td valign="top"></td>
<td width="63" valign="top">
-1.95
</td>
<td width="63" valign="top">
16.5
</td>
</tr>
</tbody></table>
 Source: ABS, RP Data
RP Data has no information on the whole area, but an analysis by Property Observer of all its suburbs indicated median house prices increased 16.5% while units dropped 1.95% over the year.
According to RP Data figures, South Gladstone was the strongest-performing suburb in the city. The unit median price went up 19.2% over the last year while the house median went up 23.9%.
For more, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom" target="_blank">Residential Property Investment Amid Queensland's Resources Boom.</a>
<hr class="system-pagebreak">
The boom growth started in 1996 with the establishment of the Queensland alumina plant in the area, the impact of which is still seen in South Gladstone. LJ Hooker agent Mark Spearing told Property Observer the suburb contains a lot of older Gladstone properties.
“There’s a big difference between a new unit close to the CBD and a 20-year-old unit on the outskirts of Gladstone,” he told Property Observer.
“New units are getting exceptional rents of $650 to 850 a week, while some of the older ones are getting just $350 to $450 a week, especially where there’s been no reinvestment into the properties.”
Spearing says there are also significant townhouse developments in areas 10 minutes from town.
“In Glen Eden, there are two upmarket townhouse developments being built. One of them will be 38 townhouses, and there’s another doing 45.
“Those are very sought after, underpinned by the investment market. They’ll earn about 800 a week.”
He says families also tend to buy in in newer suburbs like Emmerdale Gardens.
“It’s a good development, there’s good parklands, with good properties that have been well managed over a period of time. There’s new shopping centres opening, with new access roads, in a great spot,” he says.
Alicia Williams from RE/MAX Gold says Telina is another popular option for families. It’s a well-established leafy suburb that has been attracting families. Telina is wedged between the two shopping precincts of Kirkwood and Kin Kora.
However she believes the market have topped out.
“Pricing peaked around November last year and since then the market has topped out, experienced a slight pull back and is now steady,” she says.
“However, I still have a positive long-term view for Gladstone and believe we will see our next growth stage pending commencement of construction on each of the LNG plants at Curtis Island as well as other projects like Wiggins Island. 
“It is not only big industry which is a draw card for Gladstone but also the ancillary businesses and service which will come to our region in order to service our growing population.”
Spearing says the market can stop and start as one projects ends and another starts.
“Certainly prices are in a holding pattern as we speak, there’s no question over that. Because of the relatively small size of the market and the relatively extremely large workforce movement, when different stages of major development are completed waves of workers depart then a new wave arrives,” he says.
“There’s a ripple effect as that movement occurs. The rental market changes on an almost month to month basis.
“Each phase has a different requirement but we’re definitely early in the cycle”.
He says about 60% of sales in the last year have been by investors hoping to cash in on the boom.
Gladstone locals are missing out on a lot of business as workers fly-in fly-out but workers are starting to take occupancy.
“One thing I know is, where’s there’s jobs there’s usually a strong property market. And there’s a lot of jobs in Gladstone.”
But while the mining has bought strong property price growth and city development, the developments have raised the ire of environmental groups.
One of the major concerns comes with the pollution of water supplies. The development of the Gladstone harbour included a massive dredging program to make way for large LNG vessels. The area falls within the Great Barrier Reef World Heritage Area and is just one kilometre away from Great Barrier Reef Marine Park boundary.
The dispersal of spoil from the dredging dumping ground into the park is a major concern.
The dredging also stirs up silt which affects the ability of fish to extract oxygen from the water, and then settles n sea grasses and wetlands. This reduces fish stock and is a major concern for local fishermen.
Reports suggest that the five major Gladstone projects will emit 39 million tonnes of carbon dioxide equivalent per year, starting 2014. This is more than 10% of Australia’s 2020 emission targets and 19% of the 2050 target.
There are also major concerns with the effects of coal seam gas extraction, a problem widely in NSW farmlands. Some concerns include the effect of drawing excessive water from the artesian basin; the chance of polluting groundwater; and the risks of watershed damage associated with disposal of highly saline groundwater.
UNESCO is currently deciding whether to deem the area a heritage site in danger.
The team met with representatives from the seafood industry, who spoke of a sickness afflicting local fish, turtles and sea mammals involving skin lesions and cloudy eyes.
For more, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom" target="_blank">Residential Property Investment Amid Queensland's Resources Boom.</a>
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Gladstone's mining is booming, but property market far from unified in Queensland hotspot

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House and land prices in the Queensland mining town of Gladstone have risen steadily in the past decade, according to a report by PRDnationwide.
However, the volume of sales in the oft-touted investment hotspot fell significantly between March 2007 and March 2008 and have yet to return to their pre-GFC peak. These trends were apparent in both the region and city of Gladstone. 
“The lack of affordable house and land is driving sales volumes back down, exacerbated by unprecedented rental growth which continues to inflate values accordingly,” says PRDnationwide Queensland analyst Robert Matta.
Click to enlarge
<a href="/images/stories/2012/08/prdaug72.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/prdaug72thumb.gif"></a>
The previous chart refers to the entire Gladstone area, whereas the following chart relates Gladstone City specifically.
<a href="/images/stories/2012/08/prdaug73.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/prdaug73thumb.gif"></a>
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Gladstone house and land prices rising, but sales volumes below pre-GFC peak: PRDnationwide

<html><body>
Property prices and land prices in the Queensland mining town of Gladstone are expected to begin to ease once new and more affordable housing projects are completed, according to new analysis from PRDNationwide.
This easing will occur over time, with the biggest residential development project in the region – Devine’s $1.4 billion Riverstone Rise community – being completed in stages over the next 15 to 20 years.
However, the report for the March half-year warns of a number of headwinds facing investors including an expanding  fly-in, fly-out workforce, requiring investors to revise down rental expectations to secure tenants.
Gladstone ranked third in Your Investment Property magazine’s 2012 list of Top 100 suburbs and was ranked second last year. The town is home to the world’s biggest alumina refinery, Australia’s biggest aluminium smelter and the country’s largest cement operation.
There are currently $69 billion worth of projects currently in the early stages of construction, and projects worth a further $26 billion are expected to commence in the next few years.
The PRDnationwide report says that high rental yields can still be achieved in the current market, but warns investors to be diligent to not only buy at the right price, but to buy something that has competitive tenant appeal.
“Vacancy rates have been quiet turbulent during the first half of 2012, as investor demand grossly outstrips owner occupier demand,” says the report.
“Uncertainty surrounding rental vacancy is exacerbated by an ever expanding fly-in, fly-out workforce, with many workers vacating to mining/construction campsites.
“As a result, many investors are forced to make sizeable revisions to their rental price expectations in order to secure a tenant on a reasonable lease. Given the current median prices recorded across all markets, there is no doubt that some investors, particularly those who entered the market in 2012, paid a premium on their investment with a heightened expectation of strong cash-flow.”
PRDnationwide Queensland analyst Rob Matta, who compiled the Gladstone Region Highlight Report, says Devine’s project is likely to ease the housing shortage in the Gladstone region and alleviate price growth pressures.
Construction of stage one of Devine’s $1.4 billion Riverstone Rise community in Gladstone has commenced. The project which is expected to take 15 to 20 years to complete, has been approved for 2,900 homes, two shopping centres and a new school.
It is located in Benaraby, approximately 20 kilometres south of Gladstone City, the new community aims to provide an affordable and diverse alternative to the offerings within Gladstone City.
Stage one features 120 allotments ranging in size up to 740 square metres and prices starting from $165,000.
Matta says there are several projects are several other projects in the pipeline, but the problem remains that few of these projects are delivering stock at a realistic price point.
Currently, though, PRDnationwide says house and land prices in the Gladstone region continue to go “from strength to strength”, with a median house price of $479,750 and a median land price of $250,000 for the March 2012 half-year period.
More than 87% of Gladstone houses that sold over the March 2012 half-year sold for more than $400,000, compared with 67% that sold over this price point a year ago.
Giving an indication of just how rapidly house prices have shifted upwards in Gladstone over the past two years, in the March 2010 quarter, just over a third (37%) of houses sold above this price point.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/prdaug7.jpg"><img src="/images/stories/2012/08/prdaug7thumb.jpg"></a>
For more, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom">Residential Property Investment Amid Queensland's Resources Boom.</a>
 
<hr class="system-pagebreak">
 
However sales volumes have eased significantly due to the unaffordability of house and land over this period, with sales across the region down 27.3 % compared with the March 2011 half-year period and land sales down by 48.9 %.
PRDnationwide says there were 327 houses sold across the 12 suburbs that comprise the Gladstone City Area and 149 land transactions in the six months to March 2012.
Sales volumes also decreased in the unit market, which failed to sustain the exploding uplift in activity experienced during 2010-11, registering a total of 107 transactions in the March 2012 half-year period a decrease of 20.7% from the level of volumes recorded in the corresponding period in March 2011.
“The lack of affordable house and land is driving sales volumes back down, exacerbated by unprecedented rental growth which continues to inflate values accordingly,” says Matta.
Matta says the development of the Devine project repesents both good and bad news for the people of Gladstone City – depending on what side of the fence they sit.
“The good news is, that developments like this are likely to entice would-be investors and perhaps first-home buyers to snap up an opportunity they could not previously have afforded,” he says.
“The bad news is, for developers, investors or those who have recently paid a premium to live in the area, that rental vacancy may increase in the market, with rents and subsequent prices likely to correct as a result,” he says.
“As relenting as the fight is for the market to find equilibrium, the earmarked growth in the region’s economy and workforce is likely to ensure the fight continues for a long time to come.”
The PRDnationwide report attributes the revival of the Gladstone property market “solely to the booming resource industries in the Bowen and Surat basins”.
“Substantial projects such as the Curtis Island LNG facility have provided the catalyst for the recent flurry of investor interest, with many looking to capitalise on the opportunity for solid capital growth and attractive rental yields,” it says.
The report investigated three main areas – Agnes Water, Tannum Sands and Gladstone City – and found that demand for investment properties is rising in the Agnes Water Area.
PRDnationwide Agnes Water director Tim Lawry says the property market continues to benefit indirectly from the mining boom – with up to 80% of inquiry and purchases coming from the central Queensland region.
For more, download our free eBook <a href="http://propertyobserver.com.au/ebooks/free-ebook-property-investing-in-queenslands-resources-boom" target="_blank">Residential Property Investment Amid Queensland's Resources Boom.</a>
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Gladstone property hotspot facing headwinds, with investor demand 'grossly outstripping owner-occupier demand': PRDnationwide

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David Devine’s Metro Property Development group has increased its commitment to the inner-Brisbane apartment market, with approval granted for an $80 million project in South Brisbane.
The 12-level development, called The Plaza, has been designed by architects Deicke Richards and is due to be built at the corner of Russell and Manning streets on a 2,270-square-metre site and will feature 168 apartments.
Off-the-plan marketing of the project will begin later this month.
<img src="/images/stories/2012/08/plaza.jpg">
It will offer a mix of one- and two-bedroom apartments, ranging in price from $330,000 to $575,000.
The building will also feature a pool, gymnasium, outdoor dining area and garden reading room.
The Plaza site is situated just behind the Brisbane Convention Centre and close to the South Bank rail station and bus interchange, the Brisbane art gallery and cultural precinct, South Bank Parklands and the CBD.
<img src="/images/stories/2012/08/plaza2.jpg">
The project will take the value of Metro’s approved apartment developments in Brisbane to more than $400 million.  Metro currently has 1,337 apartments under construction or approved for development in inner Brisbane and a further 950 apartments in the pipeline. Metro is involved in <a href="https://www.propertyobserver.com.au/developments/construction-of-david-devines-madison-heights-tower-begins-with-87-of-units-sold-off-the-plan/2012071155517">three joint-venture projects with Indian-owned developer Pearls Australasia</a> in the inner north:
<ul>
<li>the 30-level <a target="_blank" href="https://www.propertyobserver.com.au/developments/construction-of-david-devines-madison-heights-tower-begins-with-87-of-units-sold-off-the-plan/2012071155517">Madison Heights</a> project in Bowen Hills in the inner-north, where construction has just commenced; </li>
<li>the 195-apartment The Chelsea also in Bowen Hills, which is sold out and</li>
<li>
<a target="_blank" href="https://www.propertyobserver.com.au/developments/buyers-snap-up-20-of-fortitude-valley-s-brooklyn-offerings/2011101351911">Brooklyn on Brookes</a> in Fortitude Valley  where construction is due to commence in August or September</li>
</ul>
In addition, Devine is also building the Riverside Hamilton Harbour project in partnership with Leightons.
Metro says it has received more than 200 registrations of interest for The Plaza project.
“We believe South Brisbane will continue to build on the reputation it has established as one of the city’s most popular lifestyle hubs,” says David Devine.
“With its proximity to schools, universities, hospitals, major entertainment venues and access to major transport, it is a great opportunity for buyers and investors.
“Apartments in the area are definitely undersupplied and there is great demand for an affordable, quality product that is sophisticated and stylish."
Metro marketing director Ken Woodley says there are more than 26,000 white-collar workers in the South Brisbane area and more than 80,000 students attend universities and colleges nearby.
“We anticipate demand for The Plaza from the local market will be very strong," he says.
Metro is expecting interest from young professionals, owner-occupiers and investors.
According to Urbis, the rental vacancy rate for apartments in Brisbane’s inner city sits at approximately 1.35% and is forecast to tighten to 1% or less by by December 2012.
South Brisbane recently ranked as top investment suburb, according to Your Investment Property magazine's Top 100 suburbs lists.
According to Resolution Research &amp; Strategists managing director Diana Howes,  the South Brisbane apartment market is chronically undersupplied.
“Taking into consideration the forecast increase in resident population in the South Brisbane/West End neighbourhood plan it is evident that this market is currently chronically undersupplied and will remain so until such a time as significant development and construction is undertaken to service demand,” she says.
Metro Property Development was created in 2010 by Devine Limited founder David Devine and business partners Ken Woodley and Luke Hartman.
To find out more about new projects in the inner Brisbane, Download Property Observer’s <a href="http://propertyobserver.com.au/ebooks/free-ebook-the-brisbane-inner-city-market" target="_blank">free eBook: Brisbane's Inner-City Urban Renewal</a>, which provides an overview and analysis of the current inner-Brisbane apartment market scene.
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David Devine’s Metro group wins approval for $80 million inner-Brisbane project The Plaza

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The extent of the decline of property values in places like Port Douglas, Cairns and the Gold Coast, where close to one in five properties have lost up to 10% of their value since being purchased, has been revealed in the latest RP Data Value Accumulation Report for the March quarter.



Previously called the Equity Report, it shows that nationally, the housing market remains a solid medium- and long-term investment, with only 5.4% of Australian homes currently valued at either less or the same amount as what they were purchased for – an improvement from 6.1% of homes recorded at the end of the December 2011 quarter.



Conversely, more than 41% of Australian homes are worth more than twice what their owners originally purchased them for.



However, the report reveals the struggles facing Queensland regional and coastal areas not feeling the benefits of the resources boom.



According to RP Data, nearly one in five homes (19.9%) in tropical Far North Queensland are now worth less than or the same as their previous purchase price – nearly four times higher than the national rate. 



This region includes heavily tourism-dependent places like Cairns and Port Douglas on the coast and inland, the Atherton Tablelands, which have been hit by the high Australian dollar and a spate of natural disasters.



The struggling Gold Coast market is second on the list (16.8% of homes not appreciating in value) followed by the state’s other struggling coastal market, the Sunshine Coast (14.3% of homes).



The Gold Coast and Far North also have the lowest proportion of properties worth double the initial purchase price at just 30.3% of all homes.



<img width="468" height="206" src="/images/stories/2012/greatestpercentdwelling.jpg" alt="greatestpercentdwelling">

 

Over the March quarter, the report found that the instances of negative value accumulation or stability has fallen in most regions of Queensland, but the greatest declines had been recorded in West Moreton (-2.7 percentage points), Far North (-2.0 percentage points) and Gold Coast (-1.9 percentage points). 



The list of those regions that have recorded the greatest percentage of dwellings worth less than or equal to their purchase price also includes lifestyle markets in Western Australia, Richmond-Tweed in New South Wales and Wide Bay-Burnett in Queensland. 



RP Data research analyst Cameron Kusher says this is reflective of the weaker market conditions across many lifestyle regions. 

In contrast, Victoria and Melbourne, have had the greatest level of value accumulation of any state or capital city.



This has been helped by the fact that Victorian and Melbourne properties tend to be owned for a longer length of time than homes in other parts of the country – 9.3 years in Melbourne, the highest hold period across Victoria.



In contrast, Queensland and South Australia, properties tend to have a higher turnover and subsequently, value accumulation in these states has generally been lower than in other states.
The report found that just 3.3% of Victorian homes and 3.5% of Melbourne homes are valued at the same or less than their purchase prices - better than NSW (3.9%) and Sydney (3.6%), the next best performing state and capital city markets.



This is up though from 2.8% of Sydney homes worth less than or equal to their initial purchase price recording at the same time last year - highlighting the impact on value accumulation that the fall in home values has had over the past year.



Victoria (50.3%) and Melbourne (51.6%) also have the highest proportion of homes that have doubled in value since being purchased, significantly higher than NSW (37.8%) and Sydney (37.2%).


Across Queensland, 9.6% of homes are worth less than or equal to their initial purchase price while 36.6% of homes are worth more than double their initial purchase price. 



At the end of the corresponding quarter in 2011, 3.7% of Queensland homes were worth less than or equal to their initial purchase price and 40.3% of homes were worth more than double.



Across South Australia, 6.5% of homes are worth less than or equal to their initial purchase price compared to just 2.1% of homes at the same time in 2011.



In Western Australia 6.8% of homes are worth less than or equal to their initial purchase price compared to just 3.5% of homes at the same time in 2011. 



Around 44.7% of Tasmanian homes and 44.6% of Hobart homes have doubled in value since their last purchase – the second best state and capital city housing markets on this measure.




However, the weaker Tasmanian market has been reflected in that proportion of Tasmanian homes now worth less than or equal to their initial price has nearly doubled from 3.1% to 6% since March last year. 



Over this same period, the proportion of Tasmanian homes worth more than double their initial purchase price has fallen from 48% a year ago to 44.7% in March 2012. 



The report measures the difference between the original purchase price and the current estimated value for over 8 million residential properties across the country. 

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Queensland’s tropical Far North and Gold Coast housing markets worst at accumulating value: RP Data

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Brisbane house prices fell by 1.3% in the June quarter to a median of just under $428,000 – the lowest reading since December 2008 and the eighth straight quarter that house prices have fallen – according to the latest quarterly figures from Australian Property Monitors (APM).
The decline in Brisbane house prices, which dates from the June 2010 quarter, came on the back of a very buoyant market with Queensland one of the last housing markets to feel the effects of the GFC.
The housing market took another battering following the January 2011 Brisbane floods and other natural disasters in the state.
Brisbane remains the most affordable mainland capital city detached housing market, below Adelaide, where house prices remained unchanged over the June quarter at a median of $436,000.
Year-on-year, Brisbane house prices have fallen 3.7% since June last year, more than Melbourne's 2.6% year-on-year decline, with Adelaide (- 2.1%) and Sydney (-1%) also recording smaller 12 month declines.
Brisbane unit values declined more steeply over the June quarter – down 1.7% to a median of $356,744 – but are down a more modest 0.8% over the 12 months to June, compared to house prices.
APM recorded a Brisbane auction clearance rate of just 29% last weekend.
<img alt="brisbane-median-price" src="/images/stories/2012/brisbane-median-price.gif" height="225" width="400">
Both RP-Data and Rismark have the Brisbane housing market well down over the 12 months to June – with their data pointing to an even steeper annual decline.
However, RP Data-Rismark reported a 0.9% gain in Brisbane house prices in the month of June to a median of $435,000 – suggesting the market may have begun to finally turn around.
RP Data-Rismark has Brisbane house prices down by 4.9% for the year.
Residex says Brisbane house prices fell 2.37% in June, 3.75% over the June quarter and are down 6.5% for the year with a median value of $412,500.
The Real Estate Institute of Queensland (REIQ) reported an easing in the Brisbane rental vacancy rate over the June quarter to 2.1% from 1.7%, although the inner city suburbs remain tightly held at just 1.6% “with property managers from REIQ accredited agencies reporting some rent increases taking place, especially for houses, due to stronger demand”.
The REIQ has Brisbane house prices down 4.7% over the March quarter to a median of $505,000 and has yet to release June quarter results.
According to Dr Andrew Wilson, senior economist at APM, Brisbane house prices are showing no signs of price growth at this stage and the market is likely to fall further.
He says the recent performance is somewhat “counterintuitive” given that recent ABS housing finance figures show that the value of investor loans approved over the first five months of the year rose 31% in Queensland.
“Brisbane is suffering from a lot of stock that needs to be absorbed,” Wilson says.
“There is not much competition for properties. This will only increase when the amount of residential stock listed for sale comes down.”
According to RP Data, Brisbane residential listings fell 3.5% for the year to July 8.
SQM Research recorded a 4.4% year-on-year decline in Brisbane residential stock-on-market to end of June, but recorded a 3% rise over June counting 30,080 property listings.
Wilson says there are positive signals of longer-term recovery for Brisbane including stronger population growth in South East Queensland due to people chasing higher wage growth in the state (off the back of mining activity).
“But I don’t see the bottom of the market yet,” he says.
Noting the volume of apartment projects underway in the inner Brisbane suburbs (there are more than 40 at various stages of development at present), Wilson says there is growing demand for inner city Brisbane living.
However, given that it’s an emerging new market, he says it will take time to gain traction.
“It took decades for the Melbourne inner city market to gain traction and we are still seeing prices coming down.”
"The Brisbane inner city market is on watch."
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Brisbane house prices decline for eighth straight quarter but not yet at the bottom: Australian Property Monitors

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Mining towns like Chinchilla in Queensland’s Surat Basin offer potential for capital growth.
However, its promotion (and others like it) should also serve as a reminder to investors that they should bear in mind who is making the recommendation, what interest they may have in the hotspot and whether they will earn income from selling real estate in this area.
Among those promoting Chinchilla is Sam Saggers of Positive Real Estate, who describes it as a mining boom town that should be on the “radar” of all property investors.
<img src="/images/stories/2012/07/chinchilla.jpg">
Saggers says he expects Chinchilla will soon have rents that rival those in Moranbah and Port Hedland, and says average annual price growth has been at 17% – “with no signs of stopping any time soon”.
“Chinchilla has a diverse economic base,” Saggers reassures investors.
“This small but growing region is known as the ‘Home of the Melon’, which is a well-deserved name considering that a quarter of Australia’s watermelons, rockmelons and honeydew melons come from this region.”
“Chinchilla doesn’t rely solely on mining for its ‘bread and butter’.” says Saggers. “The area has a big agricultural base, selling produce such as cotton, wheat, barley and sorghum. They have large cattle and pig farms, as well,” he says.
While this may all be accurate, investors should bear in mind that it is Saggers’ job to promote all the best that Chinchilla has to offer as he sells many properties in the mining town and others like it. Saggers does not hide this fact: you can find examples of off-the-plan projects he is marketing in Chinchilla, Mackay and Gladstone on the Positive Real Estate website.
But even Saggers himself acknowledges that there are risks to investing in mining towns and investors need to consider that mining demand could slow, so investors must assess the risk of that happening.
And, he says, not all mining towns are wise investments.
He describes Moranbah, Middlemount, Dysart and Karratha as mining towns where “rents have been driven out of control from the mining boom” and where he expects a “market contraction”.
Chinchilla, Mackay and Gladstone though are not on the list.
Surat Basin Property Group is also promoting Chinchilla and other nearby Queensland mining towns as “opportunities for ‘mum and dad’ investors to capitalise on the country’s resources boom”.
Similar to Saggers, the SBPG does not keep it a secret it has a vested interest in Chinchilla.
The company has its headquarters in the town and has “land holdings in the region that will ultimately deliver approximately 2,500 dwellings”.
SBPG has already built and sold 200 house and land packages in Chinchilla.
It should not be surprising then that SBPG chief operating officer, Jason van Hooft says opportunities for investors in the Surat Basin area are “unique in Australia”.
“For a start, we are not that isolated, being only 3.5 hours' drive from Brisbane, and secondly the towns of Chinchilla and Miles are long established country communities with existing infrastructure, existing thriving communities and broad-based economies.”
“If you like, the resources boom is the icing on the cake for these centres,” van Hooft says.
SBPG is offering house and land packages from $390,000 to $452,000, which it says will attract rents in the order of $550 to $800 a week “with a waiting list of prospective tenants in a number of the towns”.
“Similar properties, probably not as well built, in Western Australia’s mining regions would command prices of around $800,000 to $1 million,” van Hooft adds.
SBPG currently has 60 residential blocks available to be developed in Chinchilla and Miles and hundreds more in the pipeline; van Hooft says the certainty of tenancy and the potential for capital gains (16% on average over the past 10 years) cannot be duplicated anywhere else.
All of this can sound enticing, but investors should ensure they also obtain an objective opinion of locations like Chinchilla.
While there are many positives about investing in these locations, there is significant risk as well – risk that will not be highlighted by anyone with a vested interest or who stands to earn commission on property sales.
For advice on navigating hotspots, download our free eBook: <a target="_parent" href="https://bit.ly/O6ekCX">Tools for Getting Through the Hotspot Maze.</a>
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