Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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?

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

<html><body>Australian Property Monitors (APM) has released a list of results from 570 auctions in Melbourne for the weekend of  October 12. <a rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf" target="_blank" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Melbourne auction results for October 12 weekend

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We've heard it discussed regularly, and it has been a point of contention for many: Melbourne's potential oversupply.
As usual, we went to our readers first and asked them their thoughts. As the poll doesn't give space for further comment, we were specific about focusing on apartments.
As it turns out, 44.8% believe there is an oversupply "but only in the inner city", while a further 37.3% voted that there is an oversupply generally.
<img width="421" height="239" style="display: block; margin-left: auto; margin-right: auto;" alt="poll-results-oct-11-two" src="/images/stories/2013/10/11/poll-results-oct-11-two.gif">
We took the question to experts that have a vocal opinion about this topic, as well as some of those who have access to interesting data.
We asked the following:
Do you think there is an oversupply issue in Melbourne? Why/Why not?
Here is what they said: 
 
Robert Larocca - Victorian housing market specialist, <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>. <img width="125" height="150" style="float: right;" alt="larocca-profile" src="/images/stories/2013/10/11/larocca-profile.jpg">
DEMAND IS WHAT WE SHOULD FOCUS ON
The Victoria property market has a high number of homes on sale right now, but that’s due to higher levels of supply and lower demand.
It’s often said that real estate is all about supply and demand, and to a large extent that’s true, which is why it’s very difficult to say the market is oversupplied.
You have to consider the demand side. It’s not a fixed amount and is affected by a range of factors including the state of the economy and population growth.
Over the past few years in Victoria there have been historically low levels of demand. Consumers have lacked confidence and stayed away from the market.
At the same time, there has been strong growth in supply. Between 2010 and 2012 there were 167,214 dwellings approved, in the three years before that it was 130,989 and in three years before that only 120,850.
In many ways builders have been increasing supply to counter the demand and this creates a surplus (and improved affordability).
Finally, active listings of homes for sale is running at 60,000 now, down from 64,000 seen last year but still higher than the 30,000 in 2007 which was the all-time high for transactions in Victoria.  
 
Johnny Barnard - Population forecaster, <a target="_blank" href="https://home.id.com.au/">.id</a> (informed decisions)<img width="125" height="150" style="float: right;" alt="bernard-profile" src="/images/stories/2013/10/11/bernard-profile.jpg">
YES, IN THE INNER SUBURBS
It certainly appears that there is in the inner suburbs.
Our organisation, (.id) has recently completed population and housing forecasts for the Local Government Areas (LGAs) of Melbourne, Yarra, Port Phillip and Stonnington.  This involved assessing what has happened since the 2011 Census and what is likely to occur out to 2036. Aerial photography was analysed and all major housing projects assessed as to when they are likely to be constructed.
Based on our review of these sites, we estimate that there are somewhere between 9,000 and 10,000 apartments currently under construction in the four LGAs, the majority of which we estimate to be completed by the 2014-15 financial year. To provide some context, these four LGAs added 19,600 dwellings in the five year period between 2006 and 2011.
Certainly in the period we have been doing this work (15 years) we have not seen anything like the number of apartments now under construction in these four LGAs. Maribyrnong (Footscray area) and Moreland (Brunswick area) are also experiencing a significant number of apartment projects currently under construction, so these numbers actually understate the level of inner city apartment development occurring.
The major driver of population growth in Melbourne in recent years has been net overseas migration. Between 2006 and 2011, Victoria averaged around 63,000 persons per year. In the last two years, the number is likely to average around 56,000. So not much has changed in the last couple of years in terms of changed underlying demand. The fringe has dropped off in the same period but I can’t see a direct transfer of demand, the markets are too different.
It is probably too early to tell exactly what the impact will be of the peak in apartment construction. There are a number of things that could happen. Firstly, many apartments may not be able to be tenanted. Secondly, owners may decide to use their apartments as serviced or short stay apartments for a certain period of time until there is enough demand to absorb the new supply. Time will tell.  
 
<hr class="system-pagebreak">
Monique Sasson Wakelin - Director, <a target="_blank" href="https://wakelin.com.au/">Wakelin Property Advisory</a><img width="125" height="150" style="float: right;" alt="wakelin-profile" src="/images/stories/2013/10/11/wakelin-profile.jpg">
MODERATE FOR HIGHRISE INNER CITY
The answer, in part, depends on how you define oversupply. Is it empty states and streets full of unsold, uninhabitable, decaying properties? Or a situation where there are large numbers of properties in a very tight geographical precinct that take longer to sell, often require price discounts to close the deal and deliver little if any capital growth over a several-year holding?
There are no empty estates in Melbourne. But using the latter criteria, there is a moderate oversupply of high rise property in the inner city locations such as Docklands, Southbank and St Kilda Road. Carlton is over-supplied with student accommodation and there are too many McMansion-type housing developments on the fringes of suburban Melbourne.
In contrast, demand exceeds supply for older style properties and for some boutique-sized new developments in the inner ring suburbs (around two-to-12 kilometres from the CBD). The market is balanced in the middle ring.
We’ve noticed that the oversupply of new apartments in places like Port Melbourne and Richmond has moderately dampened the established market in these localities – more in terms of capping rents rather than suppressing capital growth. That is an exception to the usual rule that established property and new developments are distinct markets. It may be that in certain localities, investors need to be more cautious.
By and large, much of the moderate oversupply is cyclical. Most of it will be absorbed by growing demand should the market recovery be sustained into 2014.  However, there are more structural challenges for the inner city and outer fringe market. Although Melbourne’s projected population growth should soak up current over-supply in a few years, it is inevitable that developers will continue to over-build, so expect the issue to persist.    
 
Todd Hunter - Director and location researcher, <a target="_blank" href="https://www.wheregroup.com.au/">wHeregroup</a><img width="125" height="150" style="float: right;" alt="todd-hunter-profile-2" src="/images/stories/2013/10/11/todd-hunter-profile-2.png">
ABSOLUTELY, NUMBERS DON'T LIE
Absolutely… sure in some niche property types there may be a small shortage but the city tells a different story  
But don't let me try and convince you, there is a simply way to find out for yourself, simply google realestate.com and search the following locations. Leave the surrounding suburbs button ticked and don't put a price point in on houses, (by not putting a price point you are covering multiple price points of buyers, not just first home owners):
·     Werribee, Tarneit, Wyndham – 3,150 for sale
·     Pakenham – 2,000 for sale
·     Melton – 1,600 sor sale
·     Whittlesea, Mernda, Doreen, Sth Morang – 3,600 for sale
·     Point Cook – 2,300 for sale
·     Roxburgh Park, Craigieburn – 1,550 for sale
Then do the same for units and search Docklands - 1,800 for sale  
As you can see there are literally thousands of properties for sale.  
Now do the same exercise and search the same suburbs for properties for lease and see that there are literally thousands of properties for lease. This is why Melbourne currently has a very low yield on investment properties, there is simply too much choice. There are 2,300 units for lease in and around Docklands!  
Now to make that even scarier, many of the adverts advertise multiple properties in one add making those numbers even higher and with 15,000 more units due for construction in the inner city area, along with more land releases in the next two years, this problem is not going away any time soon.  
 
<hr class="system-pagebreak">
Andrew Wilson – Senior economist, <a href="https://apm.com.au/" target="_blank">Australian Property Monitors</a> <img width="125" height="150" style="float: right;" alt="AndrewWilson-profile" src="/images/stories/2013/10/04/AndrewWilson-profile.jpg">
SUPPLY MAKING PRICES MORE AFFORDABLE 
Melbourne remains Australia’s engine room of housing construction. Over the past year Melbourne has approved 38,394 dwellings for building or 32.4% of all capital city home approvals according to ABS data. This compares to Australia’s largest capital Sydney that accounted for just 26% of all dwelling approvals over the same period.
Melbourne’s supply-side advantage over the other state capitals through its outstanding construction performance has translated into relatively cheaper accommodation for its residents. Melbourne’s median house price is $150,000 lower than Sydney’s and also is lower than a number of the smaller capitals – Perth, Canberra and Darwin.
Melbourne’s tenant-friendly rental market is also a product of consistently solid levels of new supply. The latest median rent for Melbourne houses is $370 a week well below Sydney’s $500 and lower than all capitals with the exception of Adelaide and Hobart.
Melbourne has experienced an unprecedented surge in new apartment construction over the past two years particularly in the inner city and CBD precincts. High levels of apartment construction have been an important ingredient in keeping the local economy healthy.
Burgeoning numbers of new inner city and CBD  apartments may be moving ahead of demand with the prospect of an emerging oversupply similar to what that market experienced in the late 1990’s and early 2000’s.
Low interest rates have activated the Melbourne housing market this year with house prices now at or close to their previous peaks recorded three years ago. Unit prices however remain 5% below those recorded in 2010.
Latest data reveals that Melbourne CBD unit prices fell by 10% over the six months ending September this year with Docklands down by 6.4% and Southbank unit prices also down, falling by 1.2% over the same period.
 
Enzo Raimondo - Chief executive officer, <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a> (REIV)<img width="125" height="150" style="float: right;" alt="enzo-profile" src="/images/stories/2013/10/04/enzo-profile.png">
SHORT PERIODS OF OVERSUPPLY ARE NORMAL
The property market moves in cycles and from time to time, there can be short periods where supply can outstrip demand and vice versa. At the moment, the market as a whole is relatively balanced having readjusted from a broad oversupply in 2011 and 2012. There are still a few pockets, particularly in the inner suburbs that are still readjusting. Having said that, this balance could potentially change with the recent increase in demand and the continued slowdown in building activity.
The past two years of low transactions and moderate price growth is evident of a market that was readjusting from a general oversupply. Obviously there are many other factors at play such as consumer confidence, interest rates, unemployment, and broader economic developments but the supply and demand equation remains fundamental.
Victoria experienced a building boom in 2009-11, in part driven by government stimulus. We went from having around 40,000 building approvals per year in 2009 up to around 60,000 building approvals in 2011. This has now come down to around 50,000 approvals per year and continues to fall. Considering that the average household size in Victoria is around 2.6 people, we were building for around 156,000 new people at its peak.
On the demand side of the equation, population growth slowed down considerably during the building boom period. We went from having 120,000 new people in Victoria in 2009 down to around 80,000 people by 2011. The most recent population statistics show that growth has since increased and we have added around 100,000 people over the past year, the highest of any state. Victoria continues to be an attractive place to live and population growth is once again on the way up.
So is Victoria in an oversupply now? No, but it did just come through a period of oversupply and readjusted accordingly. The higher number of sales, price growth, and increase in clearance rates are all signs that demand is coming back into the market fairly strongly. Building activity is yet to pick up and if this continues to be the case, in time this balance could change.    
 
 
<hr class="system-pagebreak">
 
Jeremy Sheppard - Head of research, <a href="https://hotspotcentral.com.au/about-us/our-team/" target="_blank">Redwerks (Hotspotcentral)</a>
<img width="125" height="150" style="float: right;" alt="sheppard-profile" src="/images/stories/2013/10/04/sheppard-profile.png">
MARKET STILL IN BALANCE AS A WHOLE 
I use the demand to supply ratio algorithm (<a target="_blank" href="https://www.dsrscore.com.au/">DSR</a>) to gauge whether a residential property market in Australia has an oversupply or under-supply situation. This compares 15,000 suburbs against eight leading indicators of supply and demand  - property statistics like auction clearance rate -  gleaned from a variety public sources online.  
Just looking at the Melbourne city centre (comprising 16 suburbs) and not the entire Melbourne metropolitan area, the average DSR score for houses was around 22 and for units around 20 for September 2013.  
These figures are both considered to be within the "balanced" range. The ideal balance between demand and supply has a DSR score of 24 out of a maximum of 48. So the Melbourne city market is slightly below average but still in balance.  
The average DSR score Australia-wide for September 2013 was 22.4 so you can see that both the unit and house markets of Melbourne city can't really be considered oversupplied.  
However, looking at individual markets rather than the city as a whole shows a completely different picture. Dockland units have a DSR score of seven for September 2013. This is considered "very poor". In fact, this placed the Docklands unit market in the lowest percentile for the country by DSR score. The housing market for Docklands was a little better getting a DSR score of 11 which is still considered "poor".  
On the positive side both Carlton North houses and Kensington houses scored 29 in September by DSR. This places them in the 14th percentile country-wide which is comfortably above average.
So one could argue that 'Melbourne' is a balanced market but, like all markets, there are markets within a market that are both over-supplied and under-supplied to various degrees.
 
Michael Buxton - Professor environment and planning, <a href="https://www.rmit.edu.au" target="_blank">RMIT University</a> <img width="125" height="150" src="/images/stories/2013/10/11/buxton-profile.png" alt="buxton-profile" style="float: right;">
NO OVERSUPPLY OF LAND AND NO HOUSING SHORTAGE 
The 2010 expansion of the urban growth boundary by 43,000 hectares doubled the outer urban land supply to 30 years at world’s lowest densities. However, even in 2003, doubling the then density of 11 lots per hectare would have increased outer urban land supply by 62% and the amount of greenfield land by 46%.  
A more important figure for greenfield land supply is the amount of land released and zoned for housing. This is largely controlled by a few development companies, who prevent an oversupply of land released. In 2008, the supply of urban zoned land in development corridors ranged from four to seven years. This was a sufficient supply in international terms, but the government took further measures to fast track further urban zonings far in excess of demand.  
The growth boundary expansion coincided with a fall in demand for outer urban housing from almost 26,000 dwelling approvals in 2009-10 to 19,000 in 2011-22. Yet multi-unit dwelling approvals rose from 14,221 to 17,412 over this period. There is an enormous amount of land available for redevelopment in Melbourne in both brownfield and redevelopment sites. When a city wide approach is taken, and higher density is factored in, dwelling land supply in Melbourne is almost unlimited. There is no state or national housing shortage. Claims to the contrary are based on a methodology which counted large numbers of people who did not possess the financial means, or intend to enter the property market.
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Melbourne's potential oversupply: The experts have their say

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By completion in about 2025, Docklands is expected to have attracted $17.5 billion in private sector investment.
The whole precinct, on around 200 hectares, and with 44 hectares of that being water, offers a mix of uses including residential, commercial, retail, dining and leisure. It attracts millions of visitors each year.
Construction started in 1997, and, when complete in around 2025, it is tipped to be home to 20,000 residents and 60,000 workers. It will almost double the size of the former Melbourne central business district.
{yoogallery src=[images/stories/2013/10/11/dock]}
Photos: Stephen Taylor
Many people will be surprised to learn that Docklands comprises the area from Spencer Street in the east to the Bolte Bridge in the west, Footscray Road in the north to Lorimer Street in the south. It covers the waterways of Victoria Harbour and three kilometres of Yarra River frontage.
But it’s not all sweetness and light, with Docklands occasionally mired in controversy during its formative years. Many commentators have criticised perceived planning blunders and have labelled the precinct as being ‘’without soul’’. The failure of the observation wheel at Harbour Town exacerbated problems, especially for nearby traders.
A lack of public transport even prompted a Melbourne City Council director of projects in 1999 to criticise the disconnection of the precinct to the CBD, claiming that the lack of transport links, particularly pedestrian, meant Docklands was "seriously flawed".
The problem worsened in 2005 when the pedestrian link between Lonsdale Street and Docklands, proposed in 2001, was cut from the final design of the Southern Cross station development due to budget blowouts.  The Age called this a "wasted opportunity".
In 2008, the City of Melbourne released a report which criticised Docklands' lack of transport and wind-tunnel effect, lack of green spaces and community facilities.
In 2009, Neil Mitchell, writing in The Age, declared Docklands a planning "dud". Then the Lord Mayor, Robert Doyle, who has been openly critical of Docklands, chipped in claiming it lacked any form of "social glue".
In 2010, VicUrban's general manager David Young acknowledged that Harbour Esplanade "doesn't stack up". Kim Dovey, professor of architecture and design at the University of Melbourne, added that Harbour Esplanade was "too big" and claimed that Docklands was "so badly done" that it required a "major rethink".  
Despite this local criticism, Sydney travel writer Mal Chenu, in 2009, described Docklands as "the envy of Sydneysiders".
Wow, that’s a good recommendation anyway.
Key Docklands features include:
<ul>
<li>
Southern Cross Station at the gateway to Docklands provides easy access for metropolitan commuters and regional visitors on V/Line
</li>
<li>
Five city trams as well as the free City Circle tram and free tourist shuttle bus to Docklands via Flinders, Collins, Bourke and La Trobe streets
</li>
<li>
Four bike trails
</li>
<li>
Easy access to the traditional CBD via the Bourke Street pedestrian bridge, Flinders, Collins and La Trobe streets
</li>
<li>
Ferries, charter boat services and corporate cruising vessels drop off and pick up in Victoria Harbour
</li>
</ul>
One person who took advantage of living in Docklands went on to become president of the 180-member community association. A sprightly Roger Gardner (pictured below), in his late 60s, made the move with his wife from Strathmore, in Melbourne’s north, after seeing an advertisement in their local paper. That was eight years ago and they haven’t looked back since.
<img alt="gardner-oct-11-one" height="324" width="470" src="/images/stories/2013/10/11/gardner-oct-11-one.jpg">
Roger Gardner. Photo: Stephen Taylor
‘’We thought then that, ‘this is nice’ and we are glad we made the move,’’ Mr Gardner said. ‘’We love living here and can see it’s getting better all the time as improvements take place.’’
Moving into a ‘separation’ apartment, where bright living areas are separate from the two bedrooms, they have two balconies and eye-catching views. ‘’It’s lovely, especially at night.’’
Property prices are stable since being affected by the GFC in 2009, and as more apartments are built. Still, when things settle down, capital growth is tipped.
Obvious attractions are the restaurants - all with their own food specialities and price levels.
‘’We have proximity to the CBD with the twist of being on the water, having good public transport, a high level of activity – especially at weekends – and great water views. Then there’s the football stadium.
‘’Residents are a mix of all age groups, quite a lot of young people but generally balanced. Many seem to be used to living in high-rise buildings.’’
With his president’s hat on, Mr Gardner lobbies the Melbourne City Council and Places Victoria to fix shortcomings and suggest improvements. These have included speaking out against excessive development - including the proposed hotel on the Waterfront City Piazza - overshadowing, raising transparency in planning, ensuring adequate sunlight and countering wind tunnels, increasing open space and larger gaps between buildings.
Building ‘’cramming’’ is an issue. ‘’At the moment we have 10 high-rise buildings being built in an area of 400 metres by 150 metres. That’s the sort of thing we are up against and want redressed.’’
‘’We are also against serviced apartments which we believe planning minister Matthew Guy is about to legislate against. And we also want to increase the amount of parking.’’
The failure of the Observation Wheel has been a disaster for traders in the Harbour Town commercial precinct. And, unfortunately, there’s no relief in sight until March next year. At present the level of customer inquiry is not adequate for retailers and many are just holding on.
A school would be good too! Plans are in hand and tenders called for a 700-pupil school at Docklands which will attract young families – perhaps the cohort most required for a living, breathing suburb.
Another project that would improve living in Docklands is a ferry service from Federation Square around to NewQuay. A new visitor centre is planned for The Esplanade and a linear park with trees and gardens will separate Etihad Stadium from Victoria Harbour. A new park – Western Park - will also be built at the end of Docklands Drive to address the issue of a lack of open space.
From a corporate point of view Docklands has realigned the centre of Melbourne, Mr Gardner said. Major companies such as National Australia Bank, ANZ, Bureau of Meteorology, Myer, National Foods, Ericsson, Costco and Bendigo Bank are just a few of those based there.
‘’Being on the water is especially nice. We live in a building with about a third of residents owning, a third renting and a third short stayers.’’
Mr Gardner is now a Docklands local; proud of what’s been done in his neighbourhood.
‘’When everything settles down it will be much better – a great place to live.’’
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Docklands: Finding its feet after a difficult conception

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RP Data is expecting 970 auctions in Melbourne this week and 1086 across Victoria.
• Clearance rate week ending October 6: 71.3%
• Melbourne auctions expected week ending October 13: 970
• Melbourne private sales time on market week ending October 6: 38 days (houses)
• Melbourne vendor discounting market week ending October 6: -6.2% (houses)
• Listings being prepared for market are 3.3% higher in month ending October 6  
With school holidays now concluded auction volumes now lift again. The next few weeks are generally the busiest ones of the real estate year.  
Bentleigh East features the highest number of auctions with 20 scheduled. There are also 18 in both Glen Waverly and Reservoir.  
Clearance rates remain higher in Sydney, although the lower volume; 302 auction results compared to 755 in Melbourne can account for some of the difference.  
Activity in the mortgage market continues to rise moderately with a small 0.5% rise over the past four weeks in trend terms in Victoria. This suggests that whilst the market is improving it is only doing so moderately.

<hr>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
 
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RP Data's Melbourne weekend auction preview for October 12-13

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The number of homes on the market across Melbourne varies depending on the suburb with some areas providing buyers with plenty of choice while simultaneously, properties in other suburbs are being tightly held.
Over the year ending July 2013 the five most tightly held suburbs in Melbourne were <a target="_blank" href="/news">Oakleigh East</a>, <a target="_blank" href="/news">Glen Huntly</a>, <a target="_blank" href="/news">Princes Hill</a>, <a target="_blank" href="/news">Heidelberg</a> and <a target="_blank" href="/news">Clarinda</a>.
The data is based on sales recorded with the Valuer General in suburbs with a minimum of 500 houses.
In these suburbs between 2.2% and 2.6% of homes have been on the market over the last twelve months. In Oakleigh East this resulted in a mere 20 homes sold from 1,417.
When looking at the list in more detail, two interesting clusters of suburbs are apparent. Not only is Oakleigh East tightly held but neighbouring Oakleigh and Oakleigh South are also in the top 20. In those three suburbs there are nearly 9,000 houses of which only 159 have sold.
The other cluster is for houses in Parkville, Princes Hill and Carlton. The most available of those suburbs is Carlton with only 3.1% of homes offered for sale.
The reasons for this will vary and it certainly is not price driven as the median prices in the Oakleigh area are between $560,000 and $640,000 whilst in the other cluster the lowest is $881,000 in Carlton.
These two areas are surely the hardest places to buy a home in Melbourne.

<hr>
Robert Larocca is Victorian housing market specialist for <a rel="nofollow" href="https://rpdata.com/" target="_blank">RP Data</a>.
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Keep your cards close to your chest, Melbourne’s hardest suburbs to buy into: Robert Larocca

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It generates a lot of heated conversation, so we're asking you what your thoughts are on the topic.
 
 
<img alt="poll-results-oct-11" height="239" width="470" src="/images/stories/2013/10/11/poll-results-oct-11.gif"> 
 
Keep an eye out for our expert round-up on this topic tomorrow.
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Do you think Melbourne is facing an oversupply of apartments?

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The state government’s latest planning blueprint, Plan Melbourne, launched today, is investigating the establishment of a third airport in Melbourne’s south-east.
This comes in light of predictions the southern and eastern regions of Victoria are projected to grow by up to one million residents up to 2050, bringing the population catchment of a local airport up to around three million, the same as south-east Queensland.
An airport in the south-east would complement the new Port of Hastings and be a key part of a planned Integrated Economic Triangle, linking transport and economic infrastructure to the intermodal transport hubs in Melbourne’s north and west.
Minister for Planning Matthew Guy said the region’s population growth of one million by 2050 meant seriously considering an airport to serve Gippsland and the south-east.
“An airport (there) would serve one-third of Victoria’s population including the 300,000 residents of Gippsland. It would have the benefit of improving transport connections and the potential to link up with future rail access,” he said.
The Shire of Cardinia has identified locations between Koo Wee Rup and Lang Lang as potential sites.
“After identifying a preferred location, we can investigate a process for private sector investment in the development of a new airport in this corridor,” Mr Guy said.
“Cardinia has done some very positive work on this possibility, and sees the employment benefits for the south-east as well as Gippsland.”
No changes are envisaged for the Moorabbin or Tooradin airport operations, which are primarily based around flight training.
“We need a more integrated approach to planning and development which includes land use, transport, plus social and community infrastructure,’’ Mr Guy said.
‘’Underpinning Plan Melbourne are key initiatives to increase business productivity and social and economic participation for Melburnians. These involve a pipeline of city-shaping projects and service improvements that will address major gaps in freeway, rail and road networks, develop tram and bus networks, and improve cross-city traffic movements and freight flows.
“As part of Plan Melbourne, we will facilitate an integrated land use and transport plan that will recognise the creation of an integrated economic network that will be delivered by 2050.”
The Integrated Economic Triangle will connect the Hastings-Dandenong corridor with the Hume corridor to the north and the Wydham-Geelong corridor to the south-west. The network will include:
·    an expanded central city;
·    the Port of Hastings;
·    the East West Link and the North East Link;
·    the Melbourne Metro project that will connect Dandenong and Sunbury,  and
·    the Outer Metropolitan Ring Road that will connect Geelong and Avalon  with the Hume Freight Corridor.
“This network will ensure that people across metropolitan Melbourne will have easier access to Geelong, Gippsland and the Hume Corridor,’’ Mr Guy said.
‘’The transport connections will provide for greater flexibility for people travelling to work and more options for the use of freight in our state.”
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Third airport mooted for Melbourne

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One of St Kilda's most well-known landmarks, the Coffee Palace Backpackers Lodge has been listed for sale and is expected to generate offers of about $7 million.
The 47-room property, at 24-6 Grey Street, is close to Melbourne’s busy Fitzroy St and has a total building area of about 1,680 square metres.
The property is leased to the operators under a lease which has an annual rental of $424,471 plus GST. But the five year lease, which started in May 2009, is due to expire on 31 April next year, leaving potential buyers with various options.
Expressions of Interest to purchase the freehold of the three-storey building close on Friday 15 November, through marketing agents Grant McKenzie and Russell Meerkin of Kliger Wood Real Estate.
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St Kilda backpackers lodge listed with $7 million expectations

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A bidding war is heating up for Australia’s oldest listed milk processor, as Canadian company Saputo and local company Bega Cheese compete to take over the Warrnambool Cheese and Butter Factory.
Yesterday Canadian dairy company Saputo made a bid of $390 million for the factory, offering $7 cash per share for WCB.
The new deal comes after last month the WCB board urged shareholders to reject Bega’s $319 million offer, saying the move was “highly opportunistic”, given improving market conditions.
In contrast to the board’s reaction to Bega, WCB chief executive David Lord is urging shareholders to accept the offer from Saputo.
It’s not the first time other businesses have expressed interest in the 125-year-old business. In 2010 WCB rejected an acquisition proposal from Murray-Goulburn Co-operative.
The company has a strong history, having already overcome major obstacles to continue to prosper.
In 1913 the entire factory burnt down and in 1929 it was hit with another disastrous fire which destroyed most of the buildings and all its records.
Since then the business has gone from strength to strength. In 1935 it established an affiliation with Kraft, in 1956 both entities purchased the Sungold milk business and in 2002 it established a sales office in Japan.
Last week it also upgraded its earnings outlook, with the business now expected to make a profit of between $47 million and $52 million, approximately double the previous estimate.
WCB has been listed on the ASX since 2004 and is currently trading at $7.18 – up 100% from the beginning of the year.
But what makes this business so appealing to Saputo and Bega? IBISWorld senior industry analyst Emily Witham said the promise lies in WCB’s established exporting networks.
“Exports for dairy processors in particular make up a large component of their business at the moment and it’s likely to continue to do so. The exporting market is huge in cheese, skim milk and milk powder, particularly as the popularity for these products grow throughout Asia,” she says.
“That’s been one of the main aspects of the takeover; it will allow a business like Saputo to get a foot in the Asian market, which is a big area for growth.”
Dairy Australia industry analyst John Droppert agreed, saying that dairy processors with exporting links are currently leading the market.
“Historically it’s been a balancing between exporting opportunities and a profitable business at home to balance out the fluctuations,” he says.
“At the moment there is tremendous growth in South East Asia and this year the export story is very strong. There have been a few tough years for many of the key exporters, but there have been supply shortages in China this year and there have been exits among the smaller producers there, which is driving up commodity prices to levels we haven’t seen very often.”
According to IBISWorld, 40% of the cheese produced by WCB is exported to Japan, Korea, the United States, Europe and South East Asia.
The majority of the whey protein concentrate it produces is also exported to Japan and the US, while its butter and milk powder products are also exported through these destinations and the Middle East, China, Russia and South America.
The Warrnambool Cheese and Butter Factory also won the top exporter award in 2012 at the Governor of Victoria Export Awards.
But Droppert says it’s not just its exporting division which is attractive to Bega and Saputo.
“A successful dairy processor must have a good supply base and relations with farmers. It’s easy for farmers to switch between processors,” he says.
“It also needs efficient processing and good connections with the markets.”
The ongoing strength of the business is, however, likely to be driven by its exporting division.
“IBISWorld has found the big drivers in Asia is the westernisation of diets including a lot more lactose-based products, the growing population and the rise of middle income earners,” Witham says.
Witham says Asia’s dairy producing capabilities aren’t sufficient to meet the growing demand.
“Warrnambool has set themselves up to penetrate the market successfully and it produces a wide range of products designed for a niche market which aren’t sold at a significant premium,” she says.
“They’re sold at a mid-tier level, but are of a high quality.”
 
<hr>
 This article originally appeared on <a href="https://www.smartcompany.com.au" target="_blank">SmartCompany</a>.
 
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What’s behind the Warrnambool Cheese and Butter Factory bidding war?

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Superficially, at least, more strong auction clearance rates last weekend.
Sydney's epic run continues with another clearance rate of 82.5%, but in truth, this was only from a small pool of auctions on Labour Day weekend.
That said, some auction results showed signs of a very hot market with reserve prices getting smashed.
Meanwhile in Melbourne, the REIV reported a preliminary auction clearance rate of 71% from 712 auctions.
Solid enough on the face of it.
However, with 80 "no results" reported in Melbourne, it's possible that this result gets revised down below the 70% barrier which is often regarded as the notional barrier for a 'strong' market.
RP Data also recorded a result of 71% from a larger pool of auctions.
A few observations:
1). It is far too early for anyone to tell whether market prices are actually softening - the diabolical track record of so many market forecasters bears ample testimony to that (I'm talking here about dwelling prices rather than the level of housing activity).
For what it's worth, RP Data shows the following in its daily home value index (see light blue line for Melbourne), which is a rip-roaring Sydney market and far more subdued activity elsewhere:
<a style="text-decoration: none; color: #7f7f7f; margin-left: 1em; margin-right: 1em;" imageanchor="1" href="https://4.bp.blogspot.com/-6F6CXgmNsVI/UlI7Rwyjb8I/AAAAAAAAKdA/vAk6MGPxzj0/s1600/RPD2.jpg"><img style="border: 1px solid #ebebeb; position: relative; padding: 5px; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" width="400" src="https://4.bp.blogspot.com/-6F6CXgmNsVI/UlI7Rwyjb8I/AAAAAAAAKdA/vAk6MGPxzj0/s400/RPD2.jpg" height="178" border="0"></a>
<a style="text-decoration: none; color: #7f7f7f; margin-left: 1em; margin-right: 1em;" imageanchor="1" href="https://3.bp.blogspot.com/-2C7k8WN_pJg/UlI7TUxR6FI/AAAAAAAAKdI/8bmdRxt-RBI/s1600/RPD.jpg"><img style="border: 1px solid #ebebeb; position: relative; padding: 5px; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" width="400" src="https://3.bp.blogspot.com/-2C7k8WN_pJg/UlI7TUxR6FI/AAAAAAAAKdI/8bmdRxt-RBI/s400/RPD.jpg" height="245" border="0"></a>
Source: RP Data
2). It would be no surprise if Melbourne finally did slow up after a confounding run since 2007;
<img style="padding: 5px; border: 1px solid #ebebeb; box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; display: block; margin-left: auto; margin-right: auto;" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6bl-dwelpri-small.gif?accessed=2013-10-07-15-39-38" alt="Dwelling Prices graph">
3). In a market driven largely by speculation, news stories reporting a slowing market could at last kill momentum;
4). Melbourne's 'fundamentals' - such as reported vacancy rates - have been less strong than elsewhere, although there has been notably strong speculative activity to date in well-located established housing stock; and
5). Although it is common to refer to stronger dwelling prices as improvement is ultimately bad news for the Australian economy if dwelling prices outstrip household incomes for too long.
The RBA will be heartened that dwelling prices have firmed and shown a little growth to encourage development and construction, as well as a level of consumer confidence.
What we don't need is a return to very fast dwelling price growth while improvement in the rest of the economy lags.
Construction and manufacturing indices have shown heartening news for our economy of late, while retail sales may be in the process of recording a post-election bounce.
Sydney's property market appears to be the problem child. After underperforming since early 2004, the Sydney market is now very active and - with a new influx of Asian buyers - looks set to continue rising for some time to come.
 
<hr>
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' was released on 1 September 2013.
 
 
 
 
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