<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?

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Chris Scott, the former holiday letting management rights entrepreneur, has relisted his Gold Coast hinterland house.
The <a target="_blank" href="https://www.mcgrath.com.au/buy/acreage-rural-tallai-qld-4213/141241/?fromHome=1">five-bedroom Tallai house</a> has a grand entrance with marble floors. The house, with 2,325 square metres of living space, is on a 6,878-square-metre block.
It was bought in 2003 for $3 million from car auction executive Colin Crewe and it was listed with $5.5 million hopes in 2007. By late 2009 the asking price was around $3.95 million.
It’s now being quoted through McGrath agent Patricia Box at $2.9 million plus.
After gaining an honours degree in economics Scott spent two decades operating road and sea freight operations in Singapore and the US until he returned to Australia with his family in 1998.
In 2006 he secured $210 million, his share of the $700 million overly ambitious MFS takeover of the S8 travel group he founded.
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Former holiday lettings entrepreneur Chris Scott relists Gold Coast hinterland mansion

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The founder of internet travel website Club Freedom, Ron Litherland, has further reduced the asking price to $12.5 million for his European Gothic-inspired castle built on Sovereign Islands on Queensland's Gold Coast.
He once wanted $20 million for the not quite majestic Paradise Point property.
It’s currently for sale through several local agents including Zlata Becic at Mint Properties.
The recently built four-level imitation castle, complete with balustrades and turrets, has seven bedrooms and nine bathrooms.
It also has two studies, a home theatre, a library and a billiard room. There is an entertainment area on the roof and in the basement there is a garage for up to 20 vehicles.
The house has floors of polished Travertine marble, fireplaces in Sahara Gold granite and hand-crafted, mahogany-mullioned windows.
One of its earlier listing agents, George Bobolas of Ray White Paradise Point, indicated an offer of $14.1 million was knocked back during his 2010 listing.
The house is on a 1,458-square-metre block on Knightsbridge Parade West, which was bought for $3.75 million in 2007 by the Phuket-based former truckie from Brisbane.
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Paradise Point castle: Most Discounted Trophy Home of the week

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This column is likely to get me shot, and mostly likely with both barrels, especially given that tomorrow is Australia Day, but the Gold Coast 2018 Commonwealth Games is likely to do more damage than good. It is an absolute waste of money and diverts attention away from the things that really need doing. But that, of course, is part of the government’s plan. Since the birth of Christ, at least, it has been that way.

It all started in AD80, with the inaugural games of the Flavian Amphitheatre, on the orders of the Roman Emperor Titus, to celebrate the completion of the Colosseum (then known as the Flavian Amphitheatre). Vespasian began the construction of the amphitheatre around AD70 and it was completed by Titus soon after Vespasian’s death in AD79.  After Titus’ reign began with months of disasters – including the eruption of Mount Vesuvius, a fire in Rome and an outbreak of plague – he inaugurated the building with lavish games that lasted for more than 100 days, in an attempt to appease the Roman public and the gods.

And the Roman games continue today, having morphed into their own modern-day “cargo cult” – stage a sporting event and the money will come. Today, we don’t waste public money appeasing the gods, but we do so in an attempt to make the public feel good and distract us when things aren’t going so well.

The Gold Coast is just the latest city to sign up for membership with its rejoicing in hosting the Commonwealth Games. The idea that a city will gain wealth – or in the Gold Coast’s case, rebuild confidence and rejuvenate the city – by building sporting arenas and paying athletes, while often going into considerable debt, is bordering on laughable. All the more so when the event lasts just two weeks, is contested and watched by very few (and especially not by the Chinese), and won’t address what really needs to be done to improve the Gold Coast.

<a href="https://www.propertyobserver.com.au/residential/jury-is-still-out-on-claims-of-commonwealth-games-boost-for-gold-coast/2012011753057">Earlier this month </a>we asked readers to provide us with their thoughts on this matter. Three out of five respondents thought that the games would not have any real impact on the local property market. Those who did – and some sent through some quite lengthy emails – could only really offer wishy-washy statements about it improving the “mood, sentiment and confidence” as a means of boosting the Gold Coast economy. What tripe!

Most telling was that 85% of our respondents would not invest on the Gold Coast because of the games. The more gullible think that property prices will rise on the Gold Coast as they did in the lead-up to the Sydney Olympics and especially after the 2006 Melbourne Commonwealth Games. But broader review of the statistics shows that prices rose much faster in many other locations at the time, suggesting that property prices are influenced by much wider factors than a local sporting event.

Critical analyses of the claims about new job growth, the boost in retail spending and lift in tourist numbers that apparently come from such events will also reveal similar findings. Look back through the history of economic impact reports from major events and you’ll quickly find examples of economic disasters that had been painted as bonanzas.

Brisbane City residents are still burdened with the upkeep of underused sporting facilities left over from the 1982 Commonwealth Games. Queensland Treasury doesn’t even know if the cost of those games has ever been repaid. More recently, a survey of New Zealand businesses found that nine out of 10, and many of them retail and tourist-based, didn’t experience any boost in trade as a result of last year’s Rugby World Cup.

There is little doubt that “hallmark” events, which can include sporting events, can help revamp urban landscapes. That might have been the case in Hambantota, had it won the right to host the 2018 games. But given where the money is planned to be spent on the Gold Coast, its capacity to overhaul is limited at best. Maybe in the future an “urban revamp measure” should be the key judging criteria for sports-related events, rather than just how much money is thrown at the event.

For mine, the Gold Coast faces some serious issues. The $2 billion games budget would have been much better spent on fixing its problems. The coast – with close to 600,000 permanent residents and close to 4 million overnight visitors per year – needs the be governed accordingly and not as a tin-pot local authority; it needs to retool its tourism offering to suit the Chinese audience; it needs to dramatically increase its industrial land bank; get a bio-tech based industry (or similar) flourishing; facilitate fly-in/fly-out workers and build many more detached and semi-detached homes.  It doesn’t need to blow $1.97 billion on a two-week sports carnival in seven years’ time.

We just don’t have that kind of money to waste on such things anymore. No, I am not anti-sports; I just think it is time to do much more with taxpayers’ money.

I will leave you to enjoy your Australia Day tomorrow with two more thoughts.

Firstly, anyone in property who talks up the virtues of the 2018 games on the Gold Coast property market isn’t worth your trust. There had better be much more to their sales track than just that. Secondly, hallmark events should be treated like “gravy”. At present, the Gold Coast is close to starving. It needs meat and potatoes on its plate, not trimmings.

And surprise, surprise – the latest annual instalment of US-based Demographia’s <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=98acfcd992&amp;e=735ed4729e" target="_blank">global housing affordability report</a>, shows that despite an improvement in affordability in 2011, Australian housing remains “severely unaffordable”.  Sydney and Melbourne are third and fourth on the list of most unaffordable major markets, below Hong Kong and Vancouver. Well you know what we think – but if you missed it, try clicking <a target="_blank" href="https://matusikmissive.wordpress.com/2011/02/09/affordability/">here </a>and <a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-affordability-in-australia-is-not-as-dire-as-you-think/2011121352823">here.</a>
Michael Matusik is the director of independent property advisory Matusik Property Insights. Matusik has helped over 500 new residential developments come to fruition and writes the weekly  <a href="https://matusikmissive.wordpress.com/" target="_blank" title="Matusik's Missive">Matusik's Missive</a>.
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The Commonwealth Games are a waste of Gold Coast taxpayers' money: Michael Matusik

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TV personality and property pundit David Koch and his wife, Libby, have come under fire from the both the Sunshine Coast mayor and the Real Estate Institute of Queensland  for describing the local property market as “catastrophic”.
The Koches <a href="https://www.propertyobserver.com.au/residential/kochie-to-property-investors-avoid-catastrophic-gold-and-sunshine-coasts/2012011953058">warned property investors to avoid both the Sunshine Coast and Gold Coast</a> as part of their forecasts for the year ahead.
Sunshine Coast Regional Council mayor Bob Abbot says what the local market needs is people to “settle and live here, not investors”.
"I like to think we are about mums, dads and their kids and being a place they want to stay and live," he told the Sunshine Coast Daily.
Lloyd Edwards, chairman of the Real Estate institute of Queensland coast branch and local Ray White agent, points out that some of the big-name Sunshine Coast residents include Therese Rein, prominent lawyer and the wife of former prime minister Kevin Rudd; British billionaire Richard Branson and leading Australian playwright David Williamson.
He also says recent building approvals could indicate a turnaround.
According to Sunshine Coast Regional Council figures, building approval figures rose 25% in November, while ABS figures show an 18% improvement.
“These are hard facts, reality – not just an opinion,” he says.
November ABS building approval figures show a 6.6% overall increase for Queensland with private sector house approvals up 10.8%.
Master Builders director of housing policy Paul Bidwell described the improvement as “positive news” but highlighted that the figures are just for one month, with the level of building activity across the state “generally remaining well below last year’s levels, which is why we have welcomed the extension to the state government’s building boost grant”.
“We’re anticipating conditions in the early part of 2012 will remain fairly tough, but providing the European economy holds steady and as more work comes into the market as a result of the extended stimulus, we are confident the worst is behind us and the recovery will really take hold during 2012,” Bidwell says.
 
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Sunshine Coast mayor slams Kochie for 'catastrophic' warning to property investors

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Melbourne construction industry company director and horse racing enthusiast Peter Devitt has snapped up a heavily discounted Gold Coast penthouse.
It was bought late last year from Jennifer Reardon, the wife of cotton and macadamia farmer Rob Reardon, who accepted $9.2 million for the five-bedroom Liberty Panorama penthouse at Main Beach.
It was initially listed in 2007 with $16.5 million hopes, then $15 million in 2008 and $14 million in 2009.
Built over two levels with a private lift, it sits atop the Gold Coast's first elliptical-shaped high-rise, completed in 2001.
Coming with 1,200 square metres of space, it was bought off the plan from Mirvac for $3.29 million in 2000.
The shared facilities include lagoon-style pool, tennis court and indoor lap pool.
The complex is only a short distance from the restaurant and boutique shopping precinct. It had been listed through Livin In Prestige Properties agent Sharon Lloyd.
The last time Devitt, the LU Simon Builders managing director and former president of the Master Builders Association of Victoria, was in the news was in 2010 when he snapped up the penthouse at The Melburnian on St Kilda Road for about $15.5 million.
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Peter Devitt snaps up heavily discounted $9.2 million Main Beach Gold Coast penthouse: Title Tattle

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There was only Christmas cheer for buyers following from 2011's last prestige <place><placename>Mermaid</placename><placetype>Beach</placetype></place> sale. Crown chief executive Rowen Craigie's three-bedroom <street><address>Hedges Avenue</address></street> beachfront cottage was snapped up post-auction in late December for $3.65 million.
It had been listed through McGrath Broadbeach agent Chez Fraser with $3.9 million-plus hopes. Roy Schwenke of Ray White CBD Residential notified RP Data of the sale in the week prior to Christmas.
Its sale price represented a 46% drop on its $6.75 million sale in 2008. It was marketed as the chance to secure one of the most affordable beachfront cottages in the strip.
"This property is one of the last remaining original cottages and offers the choice of an immediately liveable home or a fantastic opportunity to build your ideal beachfront home on its full 405 square metre block," Fraser suggested.
It had been for sale since its August 2009 auction, with its price expectations dropping from $5.75 million in January 2011 to $4.75 million hopes.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/the-8-biggest-losses-on-mermaid-beach-s-millionaire-s-row-show-no-post-gfc-recovery-in-sight/2011113052610">Craigie is certainly not the first to take a huge hit in Mermaid Beach.</a>
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Summer Beach Spotlight: Rowen Craigie's Mermaid Beach misgamble

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A two-year program to restore the plantations and orchards surrounding Sunshine Coast’s much-loved Big Pineapple kicks off today with the ploughing of pineapple fields and the replanting of pineapples plants. 
The 16-metre-high Big Pineapple, which perches on the coast side of the Bruce Highway at Nambour, was sold by receivers along with 165 hectares of orchards on 15 titles to a <a target="_blank" href="https://www.propertyobserver.com.au/queensland/big-pineapple-buyers-hope-to-add-juice-to-sunshine-coast-tourism-market/2011082551296">pineapple-friendly consortium called Big Pineapple Corp Pty for $5.8 million in August this year</a>. 
Since acquiring the icon, stage one of the restoration program has been completed, with Saturday produce markets attracting about to 3,000 people every weekend.
The restoration of the plantations and orchards are part of a major clean-up program aimed at reclaiming the 165-hectare site after years of neglect. 
It includes reopening the Pineapple itself, fixing the sugar cane train, which takes passengers on a tour of the plantation, and “developing the master-plan proper”. 
“The vision for The Big Pineapple is to re-establish it as a leading agri-tourism operation – which was its role originally. This will be delivered in a contemporary context, showcasing sustainable agriculture and production,” says The Big Pineapple general manager Paul Ziebarth. 
The Big Pineapple was officially opened by Queensland Minister for Labour and Tourism John Herbert on August 15, 1971 as a tourist location and working farm. 
It burnt down in 1978 but was rebuilt later that year. 
Previous owners have included Queensland Press Ltd, owned by Rupert Murdoch’s News Corp. 
Ziebarth says pineapple planting material from the original fields will be available for sale at the markets over the Christmas weekend. 
“The future of Australia’s favourite tourist icon, The Big Pineapple, gets sweeter and sweeter – tomorrow marks the official ploughing of the pineapple plantation fields and replanting of pineapples, signalling the beginning of a whole new growing era,” he says.
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Big Pineapple ploughing begins as plans bear fruit

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{yoogallery src=[images/stories/december15bobcooper]}
Surfing identity Bob Cooper, who became famous for his handcrafted surfboards and was one of the first Americans to enter Australia's surfing scene in the 1960s, has listed his Sunshine Coast house for sale.
The three-bedroom, three-bathroom house is on a 701-square-metre beachfront block, naturally, and the house is only a few minutes' walk from the sand. 
Cooper and his wife, Wils, built their Steven Kidd-designed Santa Fe-style villa in Marcus Beach, on the Sunshine Coast, 17 years ago. 
Cooper first visited Australia in 1959 and found his surfboard building skills were much in demand. He returned to California after the visit but returned in 1963 to ply his trade.
The property is within a short drive of Noosa and includes a pool with shade sail. 
The Coopers are moving to Coffs Harbour to be closer to family. 
LJ Hooker agent Peter Martin is marketing the property with price hopes of $2.2 million. 
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Surfing identity Bob Cooper's Sunshine Coast beachside home on the market

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Meriton boss Harry Triguboff has lamented the current state of the Surfers Paradise market, calling on the government to base more of its institutions near Main Beach to help revive the area.
Speaking at a property lunch in Sydney this week, he said Surfers remained a very attractive place, but could not survive just as a residential location.
“It needs to be a place for work,” Triguboff says. “It cannot just be a place for building apartments; it cannot survive on just one industry.”
“Once we overcome that, it will shoot up like crazy. It’s terrific.”
In his attempts to help revive the ailing Gold Coat market, Triguboff says he has been trying to convince Chinese buyers that Surfers Paradise is part of Brisbane.
However, he says he has not been helped in his efforts by the state local governments, which don’t respect what he is doing.
“Just recently I had a development approved on the Gold Coast. They only approved it because they needed the money, not because they wanted to. That is unfortunate because we should really learn to work together,” he says.
For the Gold Coast and Surfers Paradise to succeed, they will need to emulate the success of somewhere like Parramatta, a satellite city to Sydney, Triguboff says.
Triguboff says Parramatta is succeeding because it has been able to attract some big-government tenants such as the Water Board and Commonwealth Bank.
Surfers Paradise, he says, needs the big government organisations moving in to help the market develop.
Overall though, Chinese buyers remain the key to Meriton’s success, not just on the Gold Coast.
Triguboff says that most of his buyers are now Chinese, so much so that Meriton has including lots of photos of Asian people in its advertising and promotional material as well as employing more Asians in marketing new projects.
“We went them to feel at home,” he says.
Asked by Ross Greenwood, host of Australia Israel Chamber of Commerce (AICC) discussion,  if he has had to make any changes to the types of apartments he is building to satisfy Chinese buyers, Triguboff says this has not been necessary.
“They are happy with the way Meriton builds its apartments. That is the way they think it is supposed to be,” he says.
According to Triguboff the high costs associated with purchasing property and high interest rates are making it very hard for Australian to buy into Meriton developments.
“That is why we have to depend so much on the Chinese, but I hope it will change. I hope costs will be brought down and that interest rates will come down because demand is at record levels.”
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Gold Coast must turn to business, not just tourism, to survive: Harry Triguboff

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<table border="0" cellspacing="0" cellpadding="0" width="415"><tbody>
<tr>
<td width="85" nowrap valign="bottom">
Postcode
</td>
<td width="163" nowrap valign="bottom">
Suburb
</td>
<td width="167" valign="bottom">
Indicative gross rental yield for houses
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4106
</td>
<td width="163" nowrap valign="bottom">
ROCKLEA
</td>
<td width="167" valign="bottom">
6.4%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4110
</td>
<td width="163" nowrap valign="bottom">
ACACIA RIDGE
</td>
<td width="167" valign="bottom">
5.5%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4077
</td>
<td width="163" nowrap valign="bottom">
INALA
</td>
<td width="167" valign="bottom">
5.4%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4017
</td>
<td width="163" nowrap valign="bottom">
BRACKEN RIDGE
</td>
<td width="167" valign="bottom">
5.2%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4074
</td>
<td width="163" nowrap valign="bottom">
JAMBOREE HEIGHTS
</td>
<td width="167" valign="bottom">
5.1%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4036
</td>
<td width="163" nowrap valign="bottom">
BALD HILLS
</td>
<td width="167" valign="bottom">
5.1%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4077
</td>
<td width="163" nowrap valign="bottom">
DURACK
</td>
<td width="167" valign="bottom">
5.1%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4078
</td>
<td width="163" nowrap valign="bottom">
FOREST LAKE
</td>
<td width="167" valign="bottom">
5%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4018
</td>
<td width="163" nowrap valign="bottom">
FITZGIBBON
</td>
<td width="167" valign="bottom">
5%
</td>
</tr>
<tr>
<td width="85" nowrap valign="bottom">
4174
</td>
<td width="163" nowrap valign="bottom">
HEMMANT
</td>
<td width="167" valign="bottom">
5%
</td>
</tr>
</tbody></table>
Source: RP Data
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