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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Bloomdale at Diggers Rest is the long-term project of development company Investa Land, with 3,500 lots in total to be built.
Given that as of the 2011 Census the population of Diggers Rest was at 2,275, it’s clear that this will be the development that puts the area on the map.
The project is <a href="/news/vic/big-plans-for-diggers-rest">a 15-year plan for the area, a slow and steady house and land sales effort </a>that won’t change the suburb overnight.
Currently, almost all the properties on listings websites are for new builds, house and land, or land on its own. The established properties on the market tend to be larger, or acreage blocks.
<a href="https://www.bloomdale.com.au/" target="_blank">Bloomdale</a> properties are priced from $161,900 for land and house and land from $322,000, with blocks spanning 336 square metres to 626 square metres.
It quickly emerges that Investa isn’t the only development group trying their hand in the area, although it seems they are by far the largest.
<a href="https://stivesestate.com.au/" target="_blank">St Ives</a>, a development from Core Projects, has recently been launched. Stage one includes 420 square metre lots to 676 square metres from $200,000 at 1468 Old Calder Highway. Their 300 lots have a completion expectation of December 2018.
Property Observer went to Bloomdale to speak to Paul O’Brien, general manager at Investa Land about the development and what can be expected for the future on the often-forgotten north western side of Melbourne.
{qtube vid:=u5itbp9a81I}
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Video: The emerging north-west Melbourne suburb of Diggers Rest

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When purchasing an investment apartment, it's not uncommon for rental yield and cash flow to be on the list of "top concerns" for the buyer.
Apartments can provide decent cash flow in some locations, usually at a lower price point than for a house in the same area.
Looking to the latest available list of RP Data's suburb statistics, Property Observer found Victoria's highest yielding suburbs and how far from Melbourne's CBD you have to go to find them.
These 12 suburbs range from 6% rental yield upwards from as close as 22 kilometres from the CBD.
Click on the suburb name to go to a more in depth data page:
<ul>
<li><a href="/news">Meadow Heights</a></li>
</ul>
6.01%
22 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Truganina</a></li>
</ul>
6.10%
24 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Melton</a></li>
</ul>
6.29%
45 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Melton South</a></li>
</ul>
6.12%
46 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Cranbourne West</a></li>
</ul>
7.28%
50 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Alfredton</a></li>
</ul>
7.08%
120 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Inverloch</a></li>
</ul>
18.20%
147 kilometres from Melbourne CBD
Note: This statistical anomaly is due to the area’s high frequency of holiday home rentals. Many ask in excess of $2,500 per week for tightly held beach retreat units, while the apartment properties that hit the market regularly tend to be small two or three bedroom offering around the $180,000 to $350,000 mark. It’s unlikely this type of yield is realistically attainable.
<ul>
<li><a href="/news">Yarrawonga</a></li>
</ul>
6.21%
275 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Horsham</a></li>
</ul>
6.43%
300 kilometres from Melbourne CBD
<ul>
<li><a href="/news">West Wodonga</a></li>
</ul>
6.00%
321 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Wodonga</a></li>
</ul>
6.20%
322 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Mildura</a></li>
</ul>
6.23%
542 kilometres from Melbourne CBD
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The 12 highest yielding unit suburbs in Victoria

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The Nic Bochsler-designed Highgate Hill, Toorak home of former BHP executive Brian Loton goes to weekend RT Edgar auction with $4 million plus price hopes.
<a href="https://www.realestateview.com.au/Real-Estate/3-highgate-hill-toorak/Property-Details-buy-residential-7754670" target="_blank">The 1992-built three bedroom </a><a href="https://www.realestateview.com.au/Real-Estate/3-highgate-hill-toorak/Property-Details-buy-residential-7754670" target="_blank">cul de sac offering </a>sits among Melbourne's 1,155 homes listed to go under the hammer in the metro area. 
Australian Property Monitors' senior economist Andrew Wilson says this is well ahead of last weekend’s 977 and higher than the 1,068 auctions conducted over the same weekend last year.
Melbourne’s four weekend average clearance rate now stands at 74.3% compared to 78.8% over the previous four-weekend period.
Melbourne’s south-east reported the highest regional clearance rate last weekend with a strong 84% result.
The next best however were well below led by the outer east with 76.5%, the north east 75.2%, the inner south 71.9%, the inner east 70.9% and the inner city with a clearance rate of 69.5%.
Melbourne’s inner city will host the most number of auctions this weekend with 187 closely followed by the inner south with 183, the inner east with 167, the west 166, the north-east 150, the outer east 148, the north 89 and the south-east  65.
The most popular suburb for auction listings this weekend in metro Melbourne is East Bentleigh in the inner south with 20 followed by St Kilda in the inner city with 18 and a number of suburbs with 17 auctions listed including Mount Waverley in the outer east, Reservoir in the north east, South Yarra in the inner city, Richmond also in the inner city, and Port Melbourne again in the inner city.
 
 
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jchancellor-FAypfDUnLy

Nic Bochsler-designed Toorak home headlines Melbourne weekend auction offerings

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With summer heating up, there's few better places in Melbourne to sit and relax then a rooftop or balcony.
While many bars, restaurants and even cinemas are taking advantage of elevated open spaces, many residential offerings provide a personal oasis amongst the heat of summer.
Here are five of Property Observer's five favourite balconies  with great view currently available: 
<img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;"> <a href="https://www.realestate.com.au/property-apartment-vic-south+yarra-118347599" target="_blank">7/20 Airlie Bank Lane, South Yarra, VIC</a>
<img src="/images/2014/11/13/south%20yarra%20nov%2013%20one.jpg" alt="">
First off is a three bedroom apartment with a price range of $2.3 million- $2.8 million. It has a city view which includes a touch of the surrounding botanical gardens.
It won Houses magazine's apartment of the year in 2012.  
The balcony is a major feature of the apartment with a unique view of the city. The terrace also has a great view, overlooking South Yarra.
<img src="/images/2014/11/13/south%20yarra%20nov%2013%20two.jpg" alt="">
<img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;"> <a href="https://www.realestate.com.au/property-apartment-vic-docklands-118081347" target="_blank">2302/1 Point Park Crescent Docklands Vic </a>
<img src="/images/2014/11/13/docklands%20nov%2013%20one.jpg" alt="">
Here we have a balcony with a view of the Docklands and the city.
It is a two bedroom apartment and is priced at $860,000.
The balcony is seven metres swared and is central, expanding the living space outdoors and with floor to ceiling windows it captures views of the water and the city.
With the positioning of the balcony it is possible to create an open flow effect through the apartment with the view being the central feature.
<img src="/images/2014/11/13/docklands%20nov%2013%20two.jpg" alt="">
<img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;"> <a href="https://www.realestate.com.au/property-apartment-vic-st+kilda-118059735" target="_blank">1002/181 St Kilda Road St Kilda Vic 3182</a>
<img src="/images/2014/11/13/st%20kilda%20nov%2013%20one.jpg" alt="">
This St Kilda apartment has views across the bay and out to the city.
Situated in the recently completed Maxx boutique apartment building on the 10th floor, this two bedroom apartment has a panorama view of St Kilda Beach, Albert Park Lake and the city skyline.
It has an open plan living which leads into the balcony.
The apartment is a short walk from Albert Park Lake and public transport to the CBD.
It is currently under contract for $590,000.
<img src="/images/2014/11/13/st%20kilda%20nov%2013%20two.jpg" alt="">
<img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;"> <a href="https://www.realestate.com.au/property-apartment-vic-richmond-118207303" target="_blank">311/253 Bridge Road Richmond Vic 3121</a>
<img src="/images/2014/11/13/richmond%20nov%2013%20one.jpg" alt="">
A smaller apartment compared to the rest on the with a view looking out over Richmond.
Located on Bridge Road in the heart of Richmond, this is a one bedroom apartment on private sale at $459,000.
The floor plan allows an open living style that emphasises the views the balcony has to offer.
<img src="/images/2014/11/13/richmond%20nov%2013%20two.jpg" alt="">
<img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;"> <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-118411639" target="_blank">2508/8 Downie Street Melbourne</a>
<img src="/images/2014/11/13/melbourne%20nov%2013%20one.jpg" alt="">
A balcony that gives you a view of Yarra River, Southbank and Port Phillip Bay.
Located near Etihad Stadium, Southern Cross Complex and the Crown Casino Complex, this two bedroom apartment is selling for $390,000.
<img src="/images/2014/11/13/melbourne%20nov%2013%20two.jpg" alt="">
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owisniewski-RiYLqnXfKH

Five balconies with fantastic views of Melbourne

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A new study suggests 64,386 properties in Melbourne are likely be sitting empty.
Prosper Australia, a land policy lobby group, conducted the research for the 2014 Speculative Vacancies Report using the amount of water consumed per houseshold.
According to the report, the Docklands area has the highest proportion of properties that are likely to be vacant based on water consumption, with 489 residences using no water at all in 2013 – 17% of the properties connected to a provider.
The vacancy rates recorded using Prosper's water use method doubled in Docklands, Abbotsford and West Melbourne over 2013, tripling in Highett. The water use method allowed the study to capture vacant properties that are not currently advertised for rent.
The report's author Catherine Cashmore said without significant holding fees for vacant properties, investors may not have incentives to rent out their properties.
"I suspect that there is a proportion of foreign investment holding properties vacant," Cashmore told Property Observer.
"But it could be local investors, for whom the capital gains of a property far outweigh the rental income. A rental property might earn you $18,000 or $19,000 a year, but the median house price this year has gone up by $60,000. The gains are quite significant.
"Renting a property quite often can be more trouble than it's worth," she said, explaining some investors may choose not to rent out their properties due to property management costs and previous problems with teantns.
"Some properties within the Docklands might even find it difficult to find tenants – they're generally low grade and not great to live in."
She also said properties sometimes stay vacant if their owners are elderly or have passed away, and the family is unsure what to do with the property. In her experience, new or young Australian buyers often do purchase investment properties with the intention of renting them.
But as older investors pay down their debts, and have neither the time nor money to manage their properties, they may consider leaving them vacant.
With small apartments increasingly common in Melbourne's inner city, Cashmore also noted that while developers and policy makers often claim inner city apartment development is catering to the the rising single-household demographic, the stock is inappropriate for those who need it. In fact, she said, the majority of single person households actually populated by elderly residents.
"A lot of single person households are actually widows in three or four bedroom houses," she explained.
"But the demographic of people who live in high density apartments – figures peak at around 27 years."
Click to open in new window:
<a href="/images/2014/11/13/Picture%207.png" target="_blank"><img src="/images/2014/11/13/Picture%207.png" alt=""></a>
Source: Prosper Australia.
According to Cashmore, the most effective way to change the current number of vacant properties in Melbourne is to adjust taxation policy.
The report estimates 4.4% of Melbourne's total housing stock is vacant.
"This level of latent supply is not usually identified outside of a significant downturn in economic activity. Yet, if the latent supply of withheld land were put to effective use, it would theoretically reduce cost-of-living pressures for tens-of- thousands of low-income families forced to live at the margins," the report states.
"In light of this, government inaction on Australia's housing affordability crisis is indefensible.  Access to affordable shelter is a basic human right and vital to the prosperity of our nation."
The report recommends tax reform to ease volatile boom and bust cycles based on speculation and "unsustainable levels of debt".
"We submit that these causes would be alleviated or removed if current transaction taxes were replaced with a holding tax levied on the unimproved value of land."
According to Prosper's report, a broad base, "low flat-rate no threshold" state land tax should be implemented, replacing the current progressive land tax scale, which can be passed along to tenants.
"This would act as a disincentive to withhold properties from use, with escalating land prices increasing the relative holding costspredictable and less volatile that stamp duties, which are dependent on the volume of housing transfers in addition to the transacted price.
"This would act as a disincentive to withhold properties from use, with escalating land prices increasing the relative holding costs," the report states.
Cashmore believes it's up to the government to reduce the level of unused property and affordability pressures.
"You've got to question a large proportion of prime urban land has a high published vacancy rate," she said.
"You add that onto the property that's being sold and not for rent.
"What a waste of land. And we need to question that," said Cashmore.
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jrichardson-uRX5hFdKfN

Over 64,000 Melbourne properties sit vacant: Prosper Australia

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With cranes dotting the horizon and a new apartment complex seemingly launched every week, many are wondering whether Melbourne will soon have more homes than it knows what to do with.
The Housing Institute of Australia forecasts a total of 51,007 dwelling starts for 2014. The figure puts Victoria's housing output above that of any other state, as it has been for every year since 2005. Dwelling starts in Victoria are predicted to reach 8.7% above those recorded last year.
According to <a href="/news">Victorian government predictions</a>, the number of households in Victoria is set to grow by an average of 1.9% between 2011 and 2021 to a total of 2,600,000 households.
The population projections have some arguing that Victoria is equipping itself for a migration boom. Others, however, believe we are building excess stock that will eventually result in a housing downturn. Meanwhile, the latest Speculative Vacancies Report from Prosper estimates a total of 64,386 properties are likely currently vacant in Melbourne.
<div id="stcpDiv" style="position: absolute; top: -1999px; left: -1988px;">64,386</div>
Property Observer took the question to the experts: Is Melbourne facing an oversupply problem?
Catherine Cashmore: independent analyst and author of Prosper's 2014 Speculative Vacancies Report<img src="/images/authors/fullbody/Catherine-Cashmore.png" alt="" style="float: right;">
If you're looking at it over the state as a whole, compared with the increase in population, it appears that there is ample property for the population.
If you narrow it down it down and look at it at a micro level, some areas definitely have an oversupply. Areas like Cardinia: there are about another 21,000 homes or that are to be built over the next five years or so. But almost 15% of the existing stock is sitting there vacant or unused.
When you say oversupply, in raw terms, sure. But the fact that it's not available to be accessed is important.
This is why it's really important for the government to understand how much latent supply is out there. If we do have a downturn in economic activity – which we will have, property cycles are quite predictable – investors try to offload their stock. That's what happened in 2008. A whole load of tiny apartments came onto the market because investors needed to access funds. Vacant properties go on the rental market. People sell off holiday homes.
In a downturn, people are hit in the pocket and the latent supply becomes active.
I wouldn't touch an inner city apartment. I'm talking about the Docklands, Carlton, West Footscray – all of these areas have seen an enormous uplift in apartment stock.
In Abbotsford, I'd advise any investor to keep glued to SQM's vacancy rates. In Abbotsford, SQM's <a href="https://www.sqmresearch.com.au/terms_vacancy.php" target="_blank">vacancy rate</a> came to 14% at one point. If you add that to our [Prosper's] <a href="https://www.prosper.org.au/2014/11/05/speculative-vacancies-7/" target="_blank">speculative vacancy rate</a>, of properties that have been vacant for 12 months or more – that figure rises considerably.
That is a red flag. The risks are just too great. The supply is not going to go away. You're not going to get capital gains from it, and you're not going to get a tenant.
The government can't keep talking about having a housing supply crisis. [Victorian Planning Minister] Matthew Guy says he doesn't want to see Melbourne suffering from a shortage of supply. They're fine concentrating on pushing the city's boundaries outwards and building more highrises, rather than concentrating on the supply that is vacant.
Robert Larocca: Victoria housing market specialist, RP Data<img src="/images/authors/fullbody/Robert-Larocca.png" alt="" style="float: right;">
The question of supply levels is a vexed one, after all a high level of supply can be great for buyers as it can dampen price growth, but as most buyers are sellers too it is not that simple.
The question is also hard to comprehensively answer, as there are a wide range of data sets and stages in the development cycle to compare.
At a citywide level the volume of homes on the market at any given time is a good measure.  In the month ending on 9 November there were 4.5% more homes newly listed for sale and 6.6% fewer overall homes for sale in Melbourne. Given values have been rising that suggests that there is not oversupply of homes for sale, buyers are buying the new homes and the older stock is also reducing.
But what of the unit market? A casual glance at the Melbourne skyline shows a lot of new high rise residential towers being constructed. Our data shows that those units are finding buyers. The number of units listed for sale is marginally, 2.4% lower than a year ago, and the overall number of units on the market is 3.3% higher.
That suggests that the supply is exceeding demand to a greater extent than is the case in the houses market. That is not necessarily a bad thing. Over the past decade the state government’s policies to address housing affordability concerns have been centred on increased supply in the inner city unit market and outer suburbs. The data shows that it is working.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
Andrew Wilson: Chief economist, Domain Group's Australian Property Monitors<img src="/images/authors/fullbody/Andrew-Wilson.png" alt="" style="float: right;">
I think it's almost becoming common knowledge that in the CBD highrise market, it clearly looks like supply has moved ahead of underlying demand.
We have record levels of approvals for highrises over the last two years.
It's a market that's under development in the sense that demand isn't pushing supply, but supply is trying to lead demand. The difficulty is that a lot of the development is funded by overseas development. The question is whether that investment model reflects the investment model we have here. That is, ensuring there are a lot of pre-sales before construction commences to ensure demand meets supply.
The prospect of empty towers is raised, and it also presents a conundrum for those developers who are looking for a critical mass of pre-sales before construction commences. With the market seemingly flooded, it means there's a lot of competition for a small pool of buyers. I don't know if there's an underlying culture of CBD living in Melbourne, particularly a culture that would satisfy the number of apartments that would be built. I'm not sure if there's the infrastructure to support it. I'm not sure Melbourne has the natural attributes that would support inner city living like in Sydney and Brisbane.
We probably have a lack of high rise in some of the inner suburban areas. South Yarra has undertaken a change in its profile, as has Prahran. I think demand and supply are matching each other in Prahran and South Yarra.
In Boroondora and Bayside and Stonnington, there are constraints from the local community to high rise development but there is the demand there. It's not all about high rise - it's a question of median density as well. The key question is whether there will be a medium density homes available for downsizers. If we do have these restrictions, there is a shortage.
We seem to be moving away from balance. We're building more high rises in the inner city and fewer medium density suburbs.
Developers such as Little Projects seem to be meeting the market, as are many other developers. In the city of Yarra, there seems to be a reasonable balance there.
Terry Ryder: Founder, hotspotting.com.au<img src="/images/authors/fullbody/Terry-Ryder.png" style="float: right;">
I'm surprised this is even up for debate. The oversupply in Melbourne's inner city apartment is starkly obvious. Also readily apparent is that it will get worse. A lot worse. It has the potential to cause a market crash.
Current vacancy rates include 5% in Docklands, 6% in the CBD and 7% in Southbank. That's about 1,200 apartments sitting vacant and seeking tenants, without considering the thousands of apartments under construction or being marketed off the plan prior to construction.
The true level of vacancies may be higher, given a recent report which found that 17% of Docklands apartments consumed no water last year, which presumably means they were permanently vacant.
New highrise projects are being approved by Planning Minister Matthew Guy at a frantic rate. Since coming to office four years ago, Guy has approved close to 100 buildings in Melbourne's inner city areas.
A recent study by RMIT, looking at additions to the supply of inner-city units from 2011 to 2021, found 85,000 apartments either built, under construction or in the pipeline.
Guy has shown that he will approve anything and everything that comes across his desk. A report six weeks ago suggested there were applications for 42 more apartment buildings on his desk – and the record suggests they will all be approved. You have to wonder about his motivations.
It's overbuilding on a grand and reckless scale. And it's all being done, not to provide homes for Melbourne buyers, but for sale to Asian investors.
There is clearly no local demand to support the scale of new supply that's being created. We will soon have vacancies above 10% throughout the inner city suburbs, with rents falling and property values being dragged down with it.
Inner city Melbourne has experienced oversupply in the past. It helps to explain why the market performance of inner city units has been so poor in Melbourne.
There has been no growth in the median unit price for the CBD over the past three years, while the median prices for Southbank and Docklands have fallen in that time.
Over the past five years, the median price for Docklands has averaged growth of just 1.7% per year, while Southbank and the CBD has managed little better, at around 3% per year.
Given the poor historic performance of inner city apartments, the current high vacancies and the impending glut of new properties, I would strongly urge investors – and home buyers – to steer well clear of this market.
This article continues on the next page. Please click below.
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Miriam Sandkuhler: Founder, <a href="https://www.propertymavens.com.au" target="_blank">Property Mavens<img src="/images/authors/fullbody/sandkuhler-profile.png" alt="" style="float: right;"></a>
Having lived in and around the inner Bayside suburbs over the last 20 plus years, the ongoing addition of highrise development, especially in and around Port Melbourne, has had an enormous impact on the area.
While Port Melbourne has an attractive location on the bay with some great amenity, I would say that oversupply of apartments is an issue, not just for investors but for local residents alike.
When attempting to shop at Coles or anywhere in Bay Street, it is often a struggle to find a car park. In securing one, the one hour time limit frequently isn't adequate and the grey ghosts are hot to trot in this densely populated part of the suburb. Bay Street also carries a high volume of traffic during peak hour into and from the CBD and surrounding suburbs.
The local primary school is full to overflowing and the new Albert Park high school is also at capacity (it services Albert Park residents ahead of Port Melbourne residents). There is strong demand for a high school and child care to be built in Port Melbourne.
As we know, high demand and low supply drives capital growth. As demand in Port Melbourne is average, I wouldn't recommend investing in Port Melbourne. Investors can do better in other inner city suburbs with less high and midrise development, lower supply and greater demand.
This is evidenced by there being over 1,000 apartments available for rent and over 1,150 apartments for sale as at today, not including houses for rent or sale. Demand for housing to buy is average, based on data from listings over the last 12 months on realestate.com.au.
If owner occupiers particularly wanted to reside in Port Melbourne, I would recommend that they only buy a period style house to maximise capital growth and keep to the older and more established parts of Port Melbourne - on the north side of Graham Street and towards the city.
In other words, steer clear of all of the apartments.
Todd Hunter: Director and location researcher, <a href="https://www.wheregroup.com.au/" target="_blank">wHere Group</a><img src="/images/authors/fullbody/hunter-profile-2.png" alt="" style="float: right;">
Note: Last year, <a href="/news/vic/melbournes-potential-oversupply-the-experts-have-their-say">when asked the same question</a>, Todd Hunter said Melbourne was "absolutely" facing oversupply. 
So I went back and had a re-look at the available properties for sale and for lease, and I'm sorry, but the numbers tell a similar story:
Docklands and surrounding suburbs: 1,904 units for lease, 2,205 for sale, 4.5% yield
Melton: 840 houses for sale, 170 for lease, 4.7% yield
Whittlesea: 1,912 for sale, 414 for lease, 4.7% yield
Pakenham: 765 for sale, 414 for lease, 4.9% yield
Point Cook: 1,685 for sale, 518 for lease, 4.3% yield
Roxburgh Park: 902 for sale, 178 for lease, 5.1% yield
Werribee: 1,680 for sale, 504 for lease, 4.6% yield
In the above numbers, I have not used any price point and ticked the surrounding areas on realestate.com.au and the suburbs next door also add relevance to the huge over supply in these locations. All locations except for Docklands are houses.
It is also relevant to note that the above numbers account for each advert on the website. Now on many of the adverts where new House and Land is being offered or Blocks of Land, there are many properties on the one advert, so the numbers are even more scary than above – and the yields are very reflective of an over supplied market place.
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Exclusive: Does Melbourne have an oversupply problem?

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Melbourne’s strong recent growth means that more modest increases should be expected going forward, according to Opteon Victoria’s head of residential Stuart Bridgeman.
With slowing household income growth, cost of living pressures and housing affordability concerns, he expects subtler increases over the coming months.
However, Bridgeman notes that there are still areas with strong demand – which could be good news for those looking to sell up their property in these locations.
“General demand in the market has been increasing from late 2013 up until now and we would expect this to continue, albeit at a slower rate, than previous years,” he said.
“As we see stronger and weaker pockets form throughout Victoria, it is important for investors and those looking to sell to remember that any growth in value is dictated by supply and demand and this will vary between suburbs and even precincts within suburbs.”
What is in demand:
<ul>
<li>High quality, well-renovated properties in prime positions</li>
<li>Older, character-style housing (still attracting a premium from buyers)</li>
<li>The middle and outer, eastern Melbourne suburbs are seeing significant demand</li>
<li>Properties located in popular school zones</li>
<li>Outside of the CBD, infill developments and new townhouses are proving popular with first home buyers. This is largely in the Western and Northern growth corridors</li>
</ul>
Weaker demand seen for:
<ul>
<li>Inner city high-rise apartments in the CBD and nearby locations (an oversupply could continue on for the next few years)</li>
<li>Melbourne’s outer south-east</li>
</ul>
“While many highrise apartments are being acquired by overseas purchasers and SMSF investors, we could see these numbers drop-off as the economy weakens and proposed changes to overseas investment are implemented,” Bridgeman said.
“In-fill developments are proving particularly attractive for first home buyers,  especially developments that are made up of three to six townhouse style properties.”
However, he warns new home buyers to ensure they know exactly what they’re buying. While the stock can appear to be good, small room sizes can be dysfunctional.
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What Victorian buyers want: The in-demand property types

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A three bedroom house in Melbourne's northern suburbs sold for $258,000 at auction this weekend.
<a href="https://www.realestate.com.au/property-house-vic-dallas-118036475" target="_blank">8 Washington Street</a>, Dallas was the most affordable home auctioned in the city this week, according to RP Data.
Sold under instructions from the estate executor by Richard Imbesi of Stockdale and Leggo Glenroy, the house sits on a 580 square metre plot. The land also holds a separate unit and a garden shed.
The home is within walking distance of Upfield railway station.
According to RP Data, the median price for a house in <a href="/news">Dallas</a> was $280,250 in September. The median price reached a peaked of $328,750 for the last 12 months in March.

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Dallas house the cheapest sold at Melbourne weekend auctions

The top 10 metro and regional Victorian suburbs for first home owner grants

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A boutique family business has won the 2014 Victorian Master Builder of the Year award in the residential category with a distinctive Elwood home.
Peter and Ann Marie Apostoli's <a href="https://armadillohomes.com.au/" target="_blank">Armadillo Homes</a> designed and built the winning house around an existing structure – a 1920s brick home that had undergone significant destructive renovations.
The house now features three levels where there were once two, each with ocean views.
<img src="/images/2014/10/24/Armadillo%20living%203.jpg" alt="">
Master Builders chief executive Radley de Silva described the site's previous house as a "signature property in a prime location" that "had lost its character and purpose".
Of Armadillo Homes' work, de Silva said: "Their vision was to restore the spirit of the home in a way that honoured its past through a modern and innovative interpretation of a family home and they achieved this brilliantly.
"Armadillo Homes attention to detail was impeccable in restoring this home beyond its original glory."
<img src="/images/2014/10/24/Armadillo%203rd%20level%20side%20view.jpg" alt="">
The house's distinctive copper cladding reflects Armadillo Homes director Peter Apostoli's interest in the durability and sustainability of age old building methods. Stone, stainless steel and recycled timber are also used throughout the home.
Constructed using low maintenance materials which develop with time, the contemporary home has enduring appeal, rather than conforming to the fleeting fashions of the moment.
Internal structures of the existing house were removed to improve flow, light and the relation of internal spaces to the external environment.
 <img src="/images/2014/10/24/Armadillo%20kitchen%20full%20view.jpg" alt="">
Views from all three levels have been enhanced, while lower level of the home now spills out onto the outdoor entertaining and pool area via aluminium stacker doors.
 <img src="/images/2014/10/24/armadillo%20alfresco.jpg" alt="">
Armadillo Homes is a small company, developing a low volume of high quality homes. Peter Apostoli told Property Observer the business delivers bespoke end-to-end services.
"We sit down with a customer and develop their ideas, right through from the conceptional brain storming to the final fitout and even custom furnishings if required," said Apostoli.
Their intention to create custom homes with lasting value is apparent in their choice of materials and construction methods, and sets the Elwood home apart from many new family residences in Melbourne – "foam boxes", Apostoli said, that he prefers not to work on.
After winning the Victorian Master Builder of the Year award, Armadillo Homes will compete at the 2014 National Excellence in Building and Construction Awards on 21 November.
According to Master Builders' de Silva, Armadillo Homes "typify the quality craftsmanship, dedication and passion of Victorian Master Builders".
"As with any art, the true art comes from passion and hard work," said Apostoli.
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