Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

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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Hallam is the Victorian location where there has been the biggest increase in unit stock compared to last year, according to Investar’s latest market report.
The property advisory firm states that the suburb in Melbourne's south-east has experienced a unit listing growth of 204%, up from 21 to 64 over the past 12 month period.
This is followed by Yarrawonga, up from 20 to 35 and Windsor, up from 28 to 49 units on sale.
<table border="1" align="left"><tbody>
<tr>
<td>Suburb</td>
<td>Postcode</td>
<td>Current sales stock</td>
<td>Sales stock 1 yr ago</td>
<td>Growth</td>
</tr>
<tr>
<td>Hallam</td>
<td>3803</td>
<td>64</td>
<td>21</td>
<td>204%</td>
</tr>
<tr>
<td>Yarrawonga</td>
<td>3730</td>
<td>35</td>
<td>20</td>
<td>75%</td>
</tr>
<tr>
<td>Windsor</td>
<td>3181</td>
<td>49</td>
<td>28</td>
<td>75%</td>
</tr>
<tr>
<td>West Melbourne</td>
<td>3003</td>
<td>87</td>
<td>50</td>
<td>74%</td>
</tr>
<tr>
<td>Carrum Downs</td>
<td>3201</td>
<td>34</td>
<td>21</td>
<td>61%</td>
</tr>
<tr>
<td>Carnegie</td>
<td>3163</td>
<td>79</td>
<td>50</td>
<td>58%</td>
</tr>
</tbody></table>
This list was produced using historical listing data at a suburb level for units.
It is designed to identify the suburbs with the biggest increase in stock on market for the current month when compared to the stock on market for the same period 12 months ago.
A large increase in stock on market could indicate weakening demand conditions or an increase in supply from growing activity in the market.
Units for sale off the plan at around the $360,000 median in Hallam includes a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-hallam-122570202" target="_blank">19/20-22 Belgrave-Hallam Road</a> (above) that is for sale for $360,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-hallam-122998618" target="_blank">18/59-61 Belgrave Hallam Road</a> (below) is for sale for $370,000.
<img src="/images/2016/10/21/hallam%20oct%2018.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Hallam apartment listings soar to Victoria top spot: Investar

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Investors in Morwell can pick up a miner’s cottage in the vicinity of $130,000 and rent for around $210 per week reflecting an 8 percent yield, according to Herron Todd White's latest monthly market report.
Miners cottages are very common throughout Morwell, Moe and parts of Traralgon. These are generic 3-bedroom, 1-bathroom, timber weatherboard dwellings which seem to be popular with investors.
There is such <a href="https://www.realestate.com.au/property-house-vic-morwell-123584550">an offering at $129,000</a> currently.
The property advisory firm says that Gippsland has the option of the brick veneer, described as an iconic family home and generally structurally sound, but built in the good old days with hardwood frames and flooring.
Entry level at the median price of around $270,000 for the regional city of Sale would likely see a 3-bedroom brick veneer in original or dated condition.
A renovated California Bungalow in a central location will likely fetch around $500,000.
Classic styles for the Gippsland region include 1970s to 1980s brick veneer or in older areas of towns, circa 1930s California Bungalows.
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Gippsland offers 8 percent Morwell investor weatherboards: HTW

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Melbourne has a preliminary clearance rate of 78.0 percent for the week ending 18 September, according to CoreLogic.
The largest clearance rate  was in the North East sub-region with a clearance rate of 86.8 percent. Inner Melbourne was the busiest region for auctions, with 181 held and 168 reported so far, with a preliminary clearance rate of 76.2 percent.
<a href="/images/2016/09/19/Screen%20Shot%202016-09-19%20at%2011.50.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/19/Screen%20Shot%202016-09-19%20at%2011.50.47%20AM.png" alt="">
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jonathanchancellor-7SQnKwU6yx

Melbourne's North East holds clearance rate of 78 percent: CoreLogic

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Victoria's Mildura has remained at the start of the recovery period on valuation firm Herron Todd White's property clock for several months now.
The property clock is a simple broad brush means of indicating where property prices are and the direction they are headed. The April clock dealt with fringe suburbs across Australia and one of them was the regional Victorian city of Mildura.
Mildura is the centre of a large irrigated horticultural district and within 30 kilometres there are a number of smaller towns and communities which either pre-date Mildura or were developed to support the surrounding farming communities.
These small communities include Nichols Point, Irymple, Red Cliffs, Cardross, Koorlong, Merbein and the NSW towns of Buronga, Gol Gol, Dareton and Wentworth. All of these communities have primary schools and the larger towns have the usual shopping and recreational facilities.
Those communities within 10 kilometres of the centre of Mildura generally have real estate values which closely track those of Mildura, while the more remote towns are more affordable and generally have less capital growth. Examples of towns more than 10 kilometres from Mildura include Wentworth, Merbein and Red Cliffs. Purchasing a home in these towns is an option for buyers not able to afford a similar standard dwelling in Mildura, particularly those seeking larger lot sizes.
Typical values for a three-bedroom, one-bathroom older residence in Merbein are in the range of $120,000 to $160,000 and show rental levels of $200 to $250 per week giving a gross yield of around 8%. Yields are similar in Wentworth but a little lower in Red Cliffs.
Red Cliffs has enjoyed relatively strong population growth in the past 10 years, with several new subdivisions completed to capitalise on demand from people happy to live in a small town and often employed by businesses in the Iraak and Nangiloc irrigation districts further to the south. The recent decision by Treasury Estate Wines to close its bottling facility at Iraak has affected approximately 100 employees, many of whom lived in Red Cliffs. Demand for rental accommodation in Red Cliffs has consequently declined.
Our advice to investors is that buying a home in the fringe towns will often result in a higher yield, however, history has shown that capital gain has been low compared to Mildura or the towns closer in. 
Property Observer looked up some recent property sales in the $120,000 to $200,000 range in some of the fringes on www.realestate.com.au and came up with these:
<img src="/images/2016/05/23/700_fringe1.jpg" alt="" width="570" height="346">
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-merbein-121196838" target="_blank">26 Sanders Street Merbein Vic 3505</a> sold for $165,000, according to RP Data.
<img src="/images/2016/05/23/700_fringe2.jpg" alt="" width="590" height="358">
2. A three-bedroom cottage at <a href="https://www.realestate.com.au/property-house-vic-red+cliffs-120817453" target="_blank">40 Goulburn Avenue Red Cliffs Vic 3496</a> fetched $118,000.
 
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prateek24-ezbwHMbNAk

Fringes in Victoria's Mildura offer higher yields, but capital gains slower: HTW

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<h3>In most cases, the flat, unit or apartment you are considering will be strata title:</h3>
<ul>
<li>Strata title is individual ownership of a unit or apartment within a multi-unit complex. At settlement, you will receive a certificate of title for the unit you bought and become a joint owner of the common property (common areas shared by all the unit owners).  </li>
<li>The unit owners are members of the owners corporation (formerly body corporate), which owns and manages the common property. An owners corporation is automatically created when a plan of subdivision containing common property is registered at Land Victoria.</li>
</ul>
<h3>If you buy the property, you will have the right to vote on decisions about the operation of the owners corporation and, among other responsibilities, must: </h3>
<ul>
<li>pay annual owners corporation fees, levies and charges </li>
<li>obey owners corporation rules. Rules may include things such as renovations to the property, pet ownership and noise levels. </li>
</ul>
<h3>You can research the owners corporation by reviewing: </h3>
<ul>
<li>the owners corporation certificate attached to the Section 32 statement (also known as a vendor's statement). This has details of current fees, insurance cover and maintenance works carried out. It also details any proposed works, fee increases and any potential or existing legal claims affecting the property  </li>
<li>the owners corporation manager’s details on the <a href="https://www.consumer.vic.gov.au/businesses/registered-businesses/owners-corporation-managers/public-register" target="_blank">public register of owners corporation managers </a>
</li>
<li>any contracts, agreements, leases or licenses affecting the common property  </li>
<li>the minutes of the owners corporation’s annual general meetings  </li>
<li>the contract of sale. </li>
</ul>
<h3>Finances: </h3>
<ul>
<li>What are annual owners corporation fees, levies and charges? Are you able to manage any increases in annual fees and special levies?  </li>
<li>Are there any fees or other monies owing to the owners corporation?  </li>
<li>Is there a bank account in the name of the owners corporation or a trust fund held by the manager?  </li>
<li>Can you see the owners corporation’s register or most recent financial statements, and the budget?  </li>
<li>Does the owners corporation have a credit balance or is it in debt?  </li>
<li>Has the owners corporation borrowed any money? Does it have other financial liabilities? If so, how much?  </li>
<li>Does the owners corporation have a maintenance fund? How much are you required to contribute? </li>
</ul>
<h3>Plan of subdivision: </h3>
<ul>
<li>Will you be a member of more than one owners corporation? </li>
<li>What would your lot entitlements (voting rights) and lot liabilities (your contribution to the owners corporation/s) be as part of the whole development?  </li>
<li>Check the measurements of the apartment and the car space. Are they the same as shown in the plan of subdivision, brochure and the contract of sale?  </li>
<li>Is the car parking space a lot and part of your title? If so, ensure that the car parking space is transferred with the title.  </li>
<li>Is the car parking space common property? If so, ensure you have a lease or a licence. </li>
</ul>
<h3>Maintenance and repairs: </h3>
<ul>
<li>Are there any proposed maintenance, renovations or other building works? Has the owners corporation already raised the funds to cover the cost of the building works? Will there be a special levy? </li>
<li>Is there a maintenance plan? If so, ask to see it. If there is a plan, there must be a maintenance fund.  </li>
<li>Are there any guarantees and warranties on building works and finishes? Are the documents referred to in the contract of sale? </li>
<li>Are the building works and finishes completed? Are there any defect claims?  </li>
<li>Is there sufficient reinstatement and replacement insurance cover for the building? </li>
<li>Are there any obvious structural issues, damage or repairs needed to the building? Consider organising an independent building inspection. </li>
</ul>
<h3>Management issues: </h3>
<ul>
<li>Does the owners corporation have a registered manager? Check their registration on the public register of owners corporation managers</li>
<li>Is there a resident building manager or caretaker manager?  </li>
<li>When was the last annual general meeting? Ask to see its minutes. How many complaints were reported to the owners corporation?  </li>
<li>Is there a committee? Can you contact the chairperson?  </li>
<li>Does the owners corporation have rules? Are the rules registered at Land Victoria? </li>
<li>What is the grievance procedure?  </li>
<li>Are any legal proceedings affecting the owners corporation? If so, ask for details or copies of the application or complaint. You should get legal advice before signing the contract.  </li>
<li>Check for any record of a Victorian Civil and Administrative Tribunal decision affecting the owners corporation or the address or the building. The tribunal’s decisions are available for download from the <a href="https://www.austlii.edu.au/" target="_blank">Australasian Legal Information Institute website</a>. </li>
</ul>
<h3>When looking at an apartment or unit, consider:</h3>
<ul>
<li>Can you hear people walking and talking in other apartments?</li>
<li>Can you smell cooking? </li>
<li>Are you near the garbage bins or waste collection areas? Are there any odours? </li>
</ul>
 
For more information <a href="https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/checklists/buying-an-apartment-or-unit" target="_blank">visit the Victoria government website here</a>
 
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jchancellor-FAypfDUnLy

Buying an apartment in Victoria

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Savills Australia have sold a high-profile residential development site with a permit for 11 apartments to a Melbourne based private developer for $1.27 million.
Located in Highett in Melbourne's south-east, the site had only been on the market for a week.
Comprising a corner 701 sqm site, 1157 Nepean Highway has a combined street frontage of 52 metres and was solid via a private sale.
Selling agents Jesse Radisich and Julian Heatherich described the market as hungry and weren't surprised at the speed of the sale.
"This was a fantastic opportunity in that it offered several key ingredients to a successful apartment project including a corner location providing superb site access and design flexibility, a location well served by public transport and five minutes from Westfield Southland Shopping Centre, and of course a development permit," said Jesse.
The property was sold vacant and cleared on a land value of $1812 a square metre and at a unit rate of $115,455.
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jrobinson-rf4aSBido9

Savills in development site quick sale in Highett

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Young professionals and students are driving the North Melbourne rental market, with neighbourhood factories and warehouse apartment conversions close to the CBD, markets and universities highly sought after.
Two bedroom apartments can be found at the upper end of $400,000, according to the Herron Todd White July 2015 Month in Review, which also found house and land around Bundoora, the location of RMIT and La Trove University, of note.
Affordable house and land in outer Melbourne suburbs Point Cook, Truganina, Tarneit and Williams Landing continue to drive demand, with potential investors looking to buy three to four bedroom homes under $500,000. 
The Alamanda and Sanctuary Lakes Point Cook estates have seen sales of four bedders on roughly 450 square metres sell from $450,000 to $550,000.
 
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mick.cee-iDmgDDAmu8

North Melbourne, Bundoora, Point Cook property of note: HTW

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Geelong prices dipped in 2014, but there were bigger regional Victoria town price falls, according to the latest Victorian Property Sales Report - covering the December 2014 quarter - which has been released this month. 
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Regional city housing markets continued to show significant variations for the December 2014 quarter. 
Bendigo median house prices decreased by 4.3%, having decreased by 8.5% in the previous quarter. 
Wodonga decreased by 9.7% for the December 2014 quarter, having increased by 1.2% in the previous quarter. 
<a href="/images/2015/06/18/regional_vic.jpg" target="_blank">Click to enlarge</a>
 <img src="/images/2015/06/18/regional_vic.jpg" alt="" style="line-height: 1.3em;">
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</div>
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Geelong prices dipped in 2014, but there were bigger regional Victoria town price falls

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Auction clearance rates are consistently tracking in the high 70s and low 80s and in other words, very few properties are failing to sell under the hammer.
Typically, most of the rest are sold within a few days of the auction date.
Property prices are rising in Melbourne and are probably 3% to 5% higher than they were at the beginning of the year. This is off the back of strong growth of between 8% to 10% in 2014, according to one property expert.
Richard Wakelin, founder and director of Wakelin Property Advisory, said there is a palpable sense among many buyers that if they don’t buy soon, the property market will be more expensive in a few months.
In <a href="https://www.youtube.com/watch?v=NgF9Fu5vqJU&amp;feature=youtu.be">a new video released online</a>, Mr Wakelin said times are good for vendors although there is a sense of further capital gains to be made so the impetus to sell right now may be less.
"There was a fair degree of nervousness among buyers in the second half of 2014. Many had bought in to the narrative that the property market had peaked. That there was no more price growth to come. That the Reserve Bank was about to lift interest rates," Mr Wakelin said.
"That doubt has been washed away. 
"There is a definite sense of urgency among buyers. They know that the next move for interest rates is more likely to be down than up."
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RichardWakelin-5qKEwDuXVG

Mid-autumn Melbourne market going strong: Richard Wakelin

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Foreign property investors being used as 'cash cows' by the Victorian government could potentially impact foreign investment in the state, according to property, finance and immigration firm Ausin Group (Ausin). 
The comments came after the Victorian government announced it is set to impose a 3% levy on purchases by foreign citizens who are not permanent residents along with a 0.5% land tax surcharge to absentee property owners who are not citizens or permanent residents.
Joseph Zaja, the Ausin Group managing director believes the Victorian property industry is currently sustaining the state economy with stamp duty generating the highest tax revenue in the state. 
"Overseas investors are an easy revenue raising target for the government," Mr Zaja said. 
“Foreign property investors are the lifeblood for several major property projects across Victoria.
"Without this cash injection many would not be developed and thousands of jobs would be lost. The State government is sending the message to foreign investors that it is not open for business by introducing new property taxes.
“Overseas buyers are about to be slugged with two new property taxes from both Federal and State governments – a double whammy."
 The Federal government is currently considering introducing a $5,000 levy as part of its Foreign Investment Review Board changes for overseas buyers purchasing in Australia. 
Mr Zaja stressed Australia's enviable reputation as a place that welcomes foreign investment was key to future economic prosperity. 
“The Victorian government’s announcement to slug foreign property purchasers with a new tax is short sighted.
"It is hoped the other states don’t follow their lead.
"We expect our foreign purchasers to start looking for more investment opportunities in others states,” Mr Zaja said.
In the last financial year over 60 per cent of Ausin’s property sales totally almost 2000 were to foreigners buying property in Victoria.  
Over half of those sales were to investors seeking to move here in the near future.
Ausin is one of Australia’s largest privately owned companies providing property, immigration and financial services advice to both Australian and Asia Pacific markets. The company sells properties for Australian Stock Exchange (ASX) listed companies and private property developers in Australia and New Zealand.
It employs over 350 staff across its offices.
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