<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>
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>
</body></html>

awalsh-7Ub9EypybQ

Twenty-eight localities on the Gold Coast with values going nowhere

<html><body>
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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michaelmatusik-49YzLvdmNv

Despite the building boost, 10% fewer houses built across Queensland, and how Premier Newman can start the uptick

<html><body>
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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jchancellor-FAypfDUnLy

Two Noosa properties bookending national park listed

<html><body>
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.
 
</body></html>

Jade penthouse on the Gold Coast sold by mortgagee for a third of dashed boomtime hopes

<html><body>
Demand for the $10,000 Queensland building boost has picked up strongly since the scheme was extended in January, but it could close with as much as half of the funding set aside for the scheme unclaimed by new home buyers and builders.
The scheme will close on April 30, <a href="https://www.propertyobserver.com.au/residential/queensland-government-to-extend-building-boost-until-april/2012011253029" target="_blank">having been extended</a> from the original closure date of January 31.
In the three-month period from January 11 to April 19, the Queensland Treasury has received more than 5,000 applications, taking the total to 8,929 applications.
As of April 19 the Queensland Treasury has approved 6,367 grants worth $63.6?million, according to figures obtained by the Australian Financial Review.
This is less than half of the $140 million originally set aside by the Bligh government when it was launched on August 1 as an incentive aimed at boosting the housing market in the wake of the January 2011 floods and GFC.
However, this figure could potentially rise above 50% should the remaining applications be approved and should the scheme receive more applications between now and September 1.
New home buyers and builders must sign a contract by April 30 but have until September 1 to submit their application to qualify for the $10,000 grant.
In August 2011, the first month of the scheme there were only 100 applications, and fewer than 600 in September.
The Newman government is set to announce new initiatives to help the struggling property market when it releases its budget on September 11.
These will include reinstating a $7,000 stamp duty discount for existing home owners who buy a new home from July 1, and the discount will cost the government $900 million. The scheme was scrapped by the Bligh government last year.
New Treasurer Tim Nicholls has called the building boost a botched scheme that provided no real benefit to the housing sector.
“The fact that under half of the $140 million originally allocated in the scheme has been paid out in grants is a clear indication it was a poorly targeted and designed scheme,” he says.
However, Property Council of Australia Queensland executive director Kathy MacDermott says the scheme had helped and was desperately needed.
MacDermott says the scheme had been affected by low consumer sentiment and cautious buyers.
In addition she says the Queensland housing market is being dragged down by lower property valuations by banks, which makes it harder to secure financing.
The building boost is one of <a href="https://www.propertyobserver.com.au/resources/government-property-grants-and-stamp-duty-concessions-the-expiry-dates-you-need-to-know/2012041054208" target="_blank">six state housing incentive schemes</a> that will come to an end over the next few months.
According to a CommSec report, Queensland has the fastest economic growth rate in Australia of 9.8% but is being held back by a weak housing market.
 
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Rise in demand for barely utilised Queensland building boost comes too late

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Real estate agents selling and leasing properties in Dysart, a small town in Queensland’s Isaac region, expect some reduction in house prices and rents following BHP Billiton’s decision last week to shut down the nearby Norwich Park coal mine indefinitely. 
The mine is about 15 kilometres south of Dysart and according to BHP has been losing money for “several months”. 
The closure of the mine will directly affect 490 mine employees and up to 1,000 people when including contractors. 
However the mining company has said that it will aim redeploy as many employees to the Saraji Mine, about 26 kilometres north of Dysart “to enable, where possible, those employees and families to remain living in Dysart”. 
The town has a population of about 3,100 people, according to the Isaac Regional Council. 
Julie Williamson from Julie Williamson Real Estate told Property Observer she expects a “huge impact on the market” as a result of the mine closure.
“It will free up a lot of rentals, which will bring the rental market down, which in turn will bring house prices down.
“I believe this will last for a few months, but we know there is still a lot of future employment throughout the other mines.  Hopefully, in the not-so-distant future the market will start to rise again,” she says.
Another local agent pointed out that no miners had lost their jobs and that the mine was relocating people to the Saraji Mine.
“It’s not as bad as the media are beating it up. It’s business as usual. The shops are full – there are no vacant shops,” the agent says.
“People like Lawsie (John Laws) are talking about people losing their job, when no one has lost their jobs yet,” says the agent.
However, she accepts that rents and prices are likely to fall back a little.
“They’ll only crash if people start panicking.”
“The market has been strong up until now… It will only plateau out.”
Hotspotting.com.au director Terry Ryder says it is as yet unclear whether BHP is serious about closing the mine, “or merely using the threat as a negotiating weapon with the unions, who have been making life difficult there for the past 18 months”.
“They are doing the same with rents in Moranbah, refusing to sign up for any more house tenancies until landlords drop their rents.
“But it all emphasises the high risks involving in investing in mining towns – the growth rates and rental returns can be enticing, but the risks are high in markets based on a single industry and often a single powerful employer, like BHP,” says Ryder.
Rents in Dysart start from around $800 per week for a three-bedroom house to as much as $1,800 per week for four-bedroom houses providing double-digit rental yields for investors.
Figures compiled by RP Data show that nine houses in Dysart have been sold since the start of the year, with prices ranging from $374,000 to $695,000.
Among the nine properties to sell this year was this five-bedroom house at 44 Beardmore Crescent (pictured below), which was sold for $695,000 to a Sydney investor from Mona Vale in January.
<img src="/images/stories/dysart1.jpg" width="470">
The property was listed for rent by Vision Real Estate Consultants Mackay asking $2,500 per week. 
It was rented out last week at a slighter reduced rent of $2,400 – equating to a yield of almost 18%. 
A five-bedroom house on Brock Crescent (pictured below) which sold to a local Dysart buyer for $579,000 is currently available for rent at $1,600 per week (a yield of 14%), with the listing also held by Vision Real Estate Consultants Mackay.
<img src="/images/stories/dysart2.jpg" width="470">
According to RP Data, Dysart house prices rose 13.6% in 2011 following strong gains in 2008 and 2009. 
RP Data puts the Dysart median house price at $680,000, compared with $437,000 in March 2011 with growth of 13.6% recorded. 
Facilities in the town include a $5 million sports complex including an Olympic-sized swimming pool, a shopping mall, a nine-hole golf course and bowls club, and a Community Civic Centre owned and maintained by Isaac Regional Council.
 
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Mine closure expected to bring down rents and prices in Dysart, Queensland: Agents

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Construction has begun on the new Sandpiper development on Hastings Street at Noosa.
Just three full-floor apartments and two retail shops will be built on the site.
<img src="/images/stories/sandpip.jpg">
R&amp;W Noosa co-principal Peter Butt <a target="_blank" href="https://www.propertyobserver.com.au/queensland/sale-of-%2414-million-apartments-as-tide-turns-for-better-in-noosa/2011072650927">has already sold two of the apartments</a>.
The penthouse pricing has been revised to $9.25 million, down from its $10 million hopes last July.
Overlooking Laguna Bay, Sandpiper is positioned in the centre of the busy main street. There are also view lines to First Point as well as the Noosa North Shore and river mouth.
<img src="/images/stories/sandpip2.jpg">
"The Noosa market has shown good signs of an early revival in recent months, and this new project on the beachfront is exactly the confidence booster the area needs," Butt told Noosa News.
<img src="/images/stories/sandpiperflicker.jpg">
Developed by a Victorian property investor, the Sandpiper construction is being undertaken by Calty Constructions with an expected mid-2013 completion.
The mid-floor apartment is under contract at $8 million and the ground-floor apartment at $6 million.
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Construction begins on Noosa triplex Sandpiper: Title Tattle

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The Brisbane unit market fared worse than the house market in the last six months of 2011 and, like Melbourne, faces an oversupply of this type of property.

Real Estate Institute of Queensland figures for the December quarter 2011 show that rental vacancies in inner Brisbane – where most of the stock is apartments – increased from 1.4% in the September 2011 quarter to 1.9% in the December 2011 quarter while the overall city vacancy rate remained unchanged at 2.3%

In addition, valuation firm LandMark White is warning that a combination of too many projects and historically low demand could result in an oversupply of new apartments in inner-city Brisbane suburbs like Fortitude Valley and Bowen Hills. 

The firm’s property valuers believe affordable “entry-level” apartments within five kilometres of the CBD will continue to appreciate in value but expect values in prestige units in new complexes to continue to fall.

“We have seen demand for prestige units decline again, with extended marketing periods or heavy price reductions,” says WBP. 

<img src="/images/stories/clock-brisbane-units.jpg">
On the other hand, “entry-level units are being purchased by single professionals who require affordable housing and access to the Brisbane CBD. We have recently seen volumes of sub-$400,000 unit sales increase.”

Michael Yardney is very bearish about Brisbane units, placing the market in the relatively early stages of a property downturn at three o’clock.

“There are a large number of off-the-plan apartments available in the Brisbane CBD and surrounding suburbs. Many of these remain unsold, and this oversupply of properties will put downward pressure on prices and rentals,” he says.

“Many of the apartments that have been sold off the plan are coming on stream in the next few years and have been purchased by investors. 

“Some will have difficulty getting finance and settling their purchase. Others will be disappointed to see the end value of their properties is less than their purchase price,” Yardney says.

“There will be an oversupply of inner-CBD and near-CBD apartments in Brisbane for a few years, causing prices to fall slightly.”
Population: 2 million 
Median unit price: $355,000 
Unit price growth in February 2012: 0.3% 
Annual unit price growth to December 2011: -6.5% 
Annual unit price growth to July 2011: -4.3% 
Rental yield: 5.2%
To find out where your capital city's house or unit market is on the property clock, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock" target="_blank">download our free eBook.</a>
Property Observer also tracks <a target="_blank" href="https://www.propertyobserver.com.au/queensland/brisbane-house-market-at-five-o-clock-and-yet-to-bottom-out-experts/2012041154227">Brisbane houses on the property clock</a>.
 
 
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Brisbane unit market at four o'clock, with prices still falling: Experts

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As the house price growth figures from RP Data show, Brisbane’s housing market continues to fall.

House prices were flat over the final quarter of 2011, according to figures compiled the Real Estate Institute of Queensland, which says that one year on from the floods, the housing market is showing signs of stabilising.

Michael Yardney, Louis Christopher and Charles Tarbey all believe Brisbane has some way to go before it bottoms out.

“House prices in Brisbane have dropped for the last two years. Brisbane buyers are lacking confidence to re-enter the market and are sitting on the sidelines waiting for signs that the market has bottomed before they make a purchase,” says Yardney.

“This may occur later this year as Brisbane prices stabilise. Prices are unlikely to start rising until the second half of this year or 2013.”

<img src="/images/stories/clock-brisbane-houses.jpg">
Time: 5 o'clock
Christopher says the market does not “not look as dark” as it did in mid-2011. “Stock levels have peaked a bit, but there is still a fair amount of stock on market. It’s not as bad as Melbourne, but not as good Sydney.” 

“Brisbane still has an oversupply of properties over this time last year, which continue to linger.  

“Once mortgage repayments reach parity with rental payments, I suspect the market will move quickly to seven or eight o’clock [and into an upswing],” says Tarbey.
Population: 2 million 
Median house price: $435,000 
House price growth in February 2012: -0.4% 
Annual house price growth to December 2011: -6.8% 
Annual house price growth to July 2011: -7% 
Rental yield: 4.7%
To find out where your capital city's house or unit market is on the property clock, <a href="http://propertyobserver.com.au/ebooks/free-ebook-australias-autumn-2012-property-clock" target="_blank">download our free eBook.</a>
Property Observer also tracks <a target="_blank" href="https://www.propertyobserver.com.au/queensland/brisbane-unit-market-at-four-o-clock-with-prices-still-falling-experts/2012041154228">Brisbane units on the property clock</a>.
 
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Brisbane house market at five o'clock and yet to bottom out: Experts

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Sanctuary Cove’s latest impressive listing is at 5685 Anchorage Terrace, which comes with adjusted $13.75 million price hopes through Ray White Sovereign Islands agent Ali Mian. It’s 1,000 square metres of symmetrical designer interiors from its grand double-wing staircase entrance to its heated pool on its 43-metre river frontage.
In between are power rooms lined with Ralph Lauren wallpaper, hallways reflecting the strong black-and-white palette of the French fashion house Chanel, the latest home technology system, plus tepanyaki bar, home cinema and Swarovski crystal chandeliers.
The land was consolidated by tourism entrepreneur Chris Scott who bought two neighbouring houses.
After demolition and the construction of the subterranean garage and a few walls, the receivers had moved in to take control of the 2,836-square-metre holding.
It’s been finished off by UK-based businessman John Baines and his wife, Elizabeth, who paid $4.3 million in 2009.
They re-engineered the design with architect Greg Reid. The Baines have previously sought $17.5 million for the property on earlier listings.
 
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