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?

The Hugo, which was developed to look to the future, has sold 65 per cent of its apartments.

The <a href="/developments/footscray-vic-3011">Ballarat Road project in Footscray</a> by&nbsp;Faymus Developments has just 23 apartments,&nbsp;each solar-powered and fitted with state-of-the-art interactive technology.

They were designed by architect John Demos for an evolving climate, with&nbsp;ample natural light and fresh air.

[smartcode_project:default project_id=2718 project_image_fid=34797]

When it came to developing The Hugo, Faymus said the question was no longer "what should we build?'&nbsp;but rather 'why should we build?'&nbsp;

"At The Hugo, we believe that your home is integral to the story of your life," Faymus said.

"That’s why telling amazing stories through architecture is at the heart of everything we do.

"In the early stages of our development, we set out to find compelling narratives that would define the next chapter of our lives – and yours. From a pair of Toorak retirees who moved to Footscray for a change of scenery, to a young family who migrated to Australia for a better life, our apartments are intentional, beautiful, and focused on your needs."

[smartcode_project:default project_id=2718 project_image_fid=34800]

The Hugo comprises just one and two-bedroom apartments. All of the one-bedroom apartments have been sold.

"Each apartment has been carefully curated with exquisite materials and a colour palette that reflects Australia’s rich landscape," Fyamus added.

"This perfect blend between modern aesthetics and genuine functionality is eclectic, and authentically captures the charm of the Footscray area."

Nestled in <a href="/developments/footscray-vic-3011">the heart of Footscray</a>, The Hugo enjoys an ideal location. With easy access to shops, schools, public transport, parklands, and the bustling <a href="/developments/melbourne-vic">Melbourne CBD</a>, residents will find themselves well-connected to the best the area has to offer.

The remaining two-bedroom apartments, which each have two bathrooms and one car space, start from&nbsp;$515,000.&nbsp;

[smartcode_project_cta:default project_id=2718]

Architect John Demos designed the apartments for an evolving climate, with ample natural light and fresh air.



Future proofed Footscray apartment development, The Hugo, hits the 65% sold mark

Melbourne-based Chinese property developer Holder East has successfully completed a string of townhouse and apartment developments across the city.&nbsp;

Construction is currently underway on their <a href="/developments/south-melbourne-vic-3205">South Melbourne</a> project Oasis Residences, which will deliver a mix of one, two and three-bedroom apartments, as well as duplex homes and penthouses.

They're also currently developing Monte 8, a small collection of <a href="/developments/doncaster-east-vic-3109">townhouses in Doncaster East</a>.

[smartcode_project:default project_id=9818 project_image_fid=30124]

Monte 8, named after its location at 8 Montgomery Street, has been designed by architecture firm DKO.

The design group marries the <a href="/developments/doncaster-east-vic-3109">area's rich apple orchard history</a> with the elegance of classic heritage homes, resulting in a collection of homes that take on heritage design cues as well as earthy finishes that pay homage to the region's past.

The statement rangehood shroud in the kitchen adds a touch of dynamic modernity but also creates a striking contrast to the brushed nickel tapware and sleek black glass Bosch appliances.&nbsp;

The bathrooms and ensuites at Monté 8 draw inspiration from the opulence of luxury spa hotels. The same brushed nickel tapware and accessories that feature in the kitchen extend into these spaces, while stone countertops and basins exude a sense of understated luxury, coupled with mirrored wall cabinets and generous under-counter storage.

[smartcode_project:default project_id=9818 project_image_fid=186783]

The focal point of the bathrooms however are the bath tubs and double showers, featuring both&nbsp;overhead rain shower heads and hand-held shower wands.

The remaining four-bedroom townhouses span from 177 sqm. They are priced from&nbsp;$1,323,000.

[smartcode_project_cta:default project_id=9818]

Monte 8, named after its location at 8 Montgomery Street, has been designed by architecture firm DKO.

Monte 8: Where Doncaster's heritage meets contemporary luxury

Grange ROC Property took to a peaceful cul-de-sac in <a href="/developments/prahran-vic-3181">Prahran</a> for their most recently completed residential development, Lumley Park.

With a locale that fits in among its high calibre neighbours on High Street's sought after cultural strip, Lumley Park delivers tranquility combined with access to the best <a href="/developments/prahran-vic-3181">Melbourne's inner-city</a> has to offer.&nbsp;

Designed by the Charlie Inglis-led Inglis Architects, the residences have been designed to reflect their surrounds, which is brimming with esteemed schools, transport links, markets, villages and a <a href="/developments/prahran-vic-3181">thriving dining scene</a>.&nbsp;

[smartcode_project:default project_id=13244 project_image_fid=31748]

“The premise behind Lumley Park is very much inspired by the surrounding streetscapes, presenting a seamless blend with nature – an ode to the adjacent park," Inglis said.

The team at Inglis Architects chose a palette of materials that not only enrich the picturesque court but also ensure the homes age gracefully over time.

The design seamlessly integrates with the neighbouring park, paying homage to its status. Lush vegetation adorns the surroundings, softening the contemporary architecture and seamlessly blending the homes with the natural landscape.

Inside the residences, the interiors reflect the very essence of the suburb they reside in - a fusion of high-end sophistication and warmth. The interiors feature well-appointed finishes and generous floor plans, with abundant windows flooding the interiors with natural light.

[smartcode_project:default project_id=13244 project_image_fid=31751]

The functional kitchen areas stand out as places of inspiration, where sleek appliances and modern joinery come together to enhance the overall design.&nbsp;

Three-bedroom floorplans are still on offer, priced from&nbsp;$1.995,000.&nbsp;

[smartcode_project_cta:default project_id=13244]

Designed by the Charlie Inglis-led Inglis Architects, the residences have been designed to reflect their surrounds, which is brimming with esteemed schools, transport links, markets, villages and a thriving dining scene.

Lumley Park delivers a timeless design to Prahran's streets

Wedged between one of Melbourne's most popular suburbs&nbsp;<a href="/developments/south-yarra-vic-3141">South Yarra</a> and the edgier suburb of <a href="/developments/windsor-vic-3181">Windsor</a>, <a href="/developments/prahran-vic-3181">Prahran</a> has long been a sought-after suburb for those looking to reside in Melbourne's inner-city.&nbsp;

<a href="/developments/prahran-vic-3181">The suburb</a> has recently welcomed a new addition to its residential lineup, with&nbsp;Luxor Apartments delivering their boutique apartment project, Highline Residences.&nbsp;

Comprising just 15 apartments, they had local architects&nbsp;Interlandi Mantesso design the project, which&nbsp;embraces purist forms, geometries, and negative spaces.&nbsp;

[smartcode_project:default project_id=105007 project_image_fid=168452]

The apartments have been designed with three different kitchen and bathroom options, as well as four joinery choices, encouraging residents to customise their space, creating an array of unique apartments with their own individual character.&nbsp;

The clever use of contemporary extruded and perforated brick pays homage to the facebrick aesthetic of the context, creating a striking visual impact, while the white brick serves as a contrast to the black zinc cladding.

Each one frames Melbourne's skyline, offering residents astounding views that connect Prahran to the city. The play of natural light throughout the day unveils multiple aspects of each residence, creating a dynamic and ever-changing living environment.

Open plan kitchens seamlessly flow into the living rooms, extending the sense of space and convenience. The living spaces then extend further onto spacious courtyards and balconies, connecting residents with the surrounding parklands.

[smartcode_project:default project_id=105007 project_image_fid=168434]

Upon entering Highline Residences, residents are welcomed by a generous entrance and an abundance of natural light.

Flourishing garden spaces establish a sense of tranquility and serenity, creating a gentle transition from the external hustle and bustle of everyday life.

Just two-bedroom apartments remain in the development, with prices from&nbsp;$945,000.

[smartcode_project_cta:default project_id=105007]

Upon entering Highline Residences, residents are welcomed by a generous entrance and an abundance of natural light

The design behind Prahran's Highline Residences

Architecture firm Ewert Leaf designed the recently completed Rochester apartment development in <a href="/developments/balwyn-vic-3103">Balwyn</a> to pay&nbsp;tribute to the historical richness of its locale, while offering discernibly modern living spaces.

The six apartments at 122 Rochester Road sit privately behind&nbsp;a facade that seamlessly blends classic materials like brick and timber with an asymmetrical form,

The architectural gem integrates abundant greenery, harmoniously blending with the leafy surroundings of Rochester Road.&nbsp;While boasting a unique and distinctive design, Rochester remains respectful of the surrounding streetscape.&nbsp;

[smartcode_project:default project_id=4798 project_image_fid=171860]

Ewert Leaf said within the intimate development each apartment is designed to strike a perfect balance of subtlety and modern elegance.

"The building is expressed as a solid block, with carved out recesses articulated by timber soffits. The layered minimalist design aesthetic is visually echoed throughout the interiors – whereby each home will have bespoke joinery with timber, natural stone and brushed metal detailing."

The kitchen in each residence serves as a meeting place where style and functionality converge, equipped with innovative European appliances, including a built-in microwave and oven, as well as ample integrated storage and a generous butler's pantry.

The living room at Rochester is a sanctuary for gathering and unwinding, with full-height windows flooding the space with natural light, framing panoramic views of the treetops. With an understated, neutral palette, residents are encouraged to infuse their own personal flair. During colder months, the gas fireplace creates a cozy and luxurious ambiance while efficiently heating the space. The living rooms also include a bespoke bar, featuring grey stone surfaces, built-in cabinetry and ample shelf space.&nbsp;

[smartcode_project:default project_id=4798 project_image_fid=171864]

“In communication with the materiality on the facade, Rochester’s interiors present the epitome of elegant sophistication. We’ve curated a considered, texturally rich palette of finishes to ensure spaces flow together seamlessly, are flexible and feel innately luxurious.”

Adjoining the living area, residents are greeted by spacious, wrap-around terraces which seamlessly blend indoor and outdoor living.&nbsp;

"Landscaped gardens and planting transmit a sense of serenity, luxury and dappled light, softening the linear exterior forms.”

The oversized master bedrooms at Rochester incorporate plush wool carpeting underfoot and timeless fluted glass joinery, with capacious walk-in wardrobes, striking a balance between luxury and practicality.&nbsp;

Rochester's bathrooms provide a sanctuary for rejuvenation and relaxation, flooded with natural light, featuring a double vanity, free-standing bathtub, spacious walk-in showers, and ample integrated storage.

[smartcode_project_cta:default project_id=4798]

Ewert Leaf said within the intimate development each apartment is designed to strike a perfect balance of subtlety and modern elegance

Inside the Ewert Leaf design of Balwyn's Rochester apartments

Melbourne-based architecture practice Edition Office has successfully captured the essence of luxurious simplicity in their latest project, 231 Napier Street. Designed in collaboration with development company Milieu, this collection of 11 exclusive apartments epitomises the modern urban lifestyle.

Edition Office's approach to architecture centres around the human experience, recognising that buildings are not just structures but living, breathing spaces that shape our daily lives and memories. With Napier Street, they have created a series of moments that unfold as occupants journey from the street to their homes, amplifying and revealing the nuances of everyday experiences.

The design of Napier Street pays homage to the rich history and distinctive character of <a href="/developments/fitzroy-vic-3065">Fitzroy, a vibrant neighbourhood in Melbourne</a>. Every detail, from the relief patterns to the window and door arrangements, and even the rhythm of the facade, celebrates the essence of Fitzroy's terrace-house typology.&nbsp;

&nbsp;

[smartcode_project:default project_id=13182 project_image_fid=150921]

Nestled on a tranquil street in the <a href="/developments/fitzroy-vic-3065">heart of Fitzroy</a>, 231 Napier Street enjoys a privileged location surrounded by cultural landmarks and commercial hubs. Bordered by Gertrude, Smith, and Brunswick Streets, the quiet pocket offers a haven from the bustling city while remaining connected to its vibrant energy. Milieu's commitment to enhancing neighbourhoods through design aligns perfectly with Edition Office's dedication to ambitious architecture, resulting in a building that harmoniously merges contemporary ideals with the historical context of the site.

Aaron Roberts, Director at Edition Office said they closely examined the materiality of <a href="/developments/fitzroy-vic-3065">Fitzroy's historic buildings</a>, studying their relief patterns, window and door compositions, and the rhythmic arrangement of party walls that define the streetscape.

"This research became the foundation for our design, ensuring a strong connection with the surrounding context. The result is a building that proudly showcases its honest character, with raw concrete shells stacked upon each other to create a striking visual impact."

&nbsp;

[smartcode_project:default project_id=13182 project_image_fid=150926]

Beyond its exterior, 231 Napier Street reveals its true essence upon entering. Each apartment acts as a vessel, providing a sense of enclosure and protection within the bustling city. Visitors are greeted by an internal atrium enclosed in a perforated metal surround, allowing ever-changing light and air to permeate the common spaces.&nbsp;

Within the building's raw shell, a delicate timber inner skin envelopes the interiors, evoking a sense of understated luxury. The internal spaces have been thoughtfully designed to maximise natural light and airflow, with internal walls removed to create open, free-flowing areas.

[smartcode_project:default project_id=13182 project_image_fid=150927]

The attention to detail is evident, with full-height glazing providing outside views that reinforce the sense of spaciousness, bespoke joinery offering ample storage, natural stone benchtops exuding timeless elegance, and stained timber flooring exuding warmth and sophistication.

Additional features such as brushed nickel tapware by Phoenix, wine fridges, and fireplaces further enhance the overall luxurious feel of each apartment.

[smartcode_project_cta:default project_id=13182]

Edition Office have created a series of moments that unfold as occupants journey from the street to their homes, amplifying and revealing the nuances of everyday experiences.

How Edition Office designed Milieu's 231 Napier Street, Fitzroy apartments

The problematic shortage in the apartment development pipeline in Melbourne, paired with huge immigration forecasts over the next decade, has had property advisory giant Charter Keck Cramer predict huge growth for the <a href="/developments/melbourne-vic">Melbourne off the plan apartment market</a>.

Charter Keck Cramer said this week that, despite the current difficulties in the marketplace which have stemmed from the aggressive interest rate rises over the last 18 months, there are a number of reasons why apartment values will go up.

"There are a number of fundamental reasons that support the thesis that off the plan apartment value rates across the entire apartment market in <a href="/developments/melbourne-vic">Melbourne</a> will simply have to recalibrate upwards over the next 12 months," Charter Keck Cramer's research report authored by their Research and Strategy team Richard Temlett, Ben Carter, and Charlotte Tolfree read.

[smartcode_project:default project_id=112174 project_image_fid=199599]

Their analysis of apartment projects across 10 <a href="/developments/melbourne-vic">Melbourne suburbs</a> shows that&nbsp;several of those that have been released over 2023 have increased their off the plan value rates by +15 per cent to +25 per cent. That's in comparison to pre-COVID off the plan value rates of apartments of the same size in earlier stages of the same development or in comparable projects in the same locations.

They added a caveat however, suggesting that not every project in every location would be able to revise rates upwards.

"At present, the ability to increase value rates comes down to the developer, brand, location and respective target markets."

They believe the buyer market will have to accept the new pricing structure, given it is unlikely that land values will fall substantially, nor will building costs fall dramatically.

<h2>Interest rates and consumer sentiment</h2>

Charter Keck Cramer said the 400 basis point rise since April 2022, which has both dampened purchaser sentiment and cut purchasing power by around 40 per cent, has seen buyer cohorts move into a different property bracket.

"When rates were at 0.1%, all potential buyers had much higher purchasing capacities. A segment of this cohort had the capacity to purchase a detached house or a townhouse whilst another segment that had the capacity to purchase an apartment.

[smartcode_project:default project_id=5495 project_image_fid=210547]

"With rapid rate rises, there is anticipated to be a “shuffle” downwards (trade-off) where many buyers are forced to trade into medium and higher density dwellings as dictated by their revised finances.

"For those that do not wish to buy, or now cannot afford to buy, will still need a place to live. This in itself provides renter demand which will be attractive to BTS apartment investors (as well as Build to Rent operators)."

There also the renting buyer who is expected to speed up their purchase timelines given the rise in rents over the last 12 months. They expect almost all of these potential buyers will seek the most affordable product type, which will be apartments.

<h2>Supply Imbalance</h2>

While Charter Keck Cramer prepares it's&nbsp;State of the Apartment Market report for H1-2023, the key take away is that&nbsp;supply remains at incredibly low levels.

"When this is read in light of population growth being at decade highs, it is no surprise that vacancy rates are incredibly low and rents are rising so quickly.

<img alt="Melbourne supply" data-entity-type="file" data-entity-uuid="3cc52365-efac-40d9-bb07-00d9938cb47e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202023-07-21%20at%2010.58.55%20am.png?VersionId=r6aa0O4FUpEfD_wEqQl078dOfISsfsHN" />

"It is also an explanation for why Charter Keck Cramer feels that there will be a floor under price falls (if any) of established apartments, and also a fourth reason why we believe new apartment pricing will need to adjust upwards and will be supported by the buyer market."

<h2>Construction costs and land values</h2>

The advisory firm said that while construction costs are starting to slow, their feedback from builders in the industry is that it is unlikely they will ever revert to pre-COVID levels. They also say that there is going to&nbsp;continue to be substantial competition and demand for labour given the city-shaping infrastructure projects being completed across <a href="/developments/melbourne-vic">Melbourne</a> over the next few years.

"This stands to keep construction costs elevated in the short, medium and longer term."

[smartcode_project:default project_id=27554 project_image_fid=214531]

There's also the expectation that land prices are unlikely to fall substantially, if at all, given the extremely restrictive planning system across <a href="/developments/melbourne-vic">Melbourne</a>.

"Our investigations with many sales agents suggest that well located quality sites are highly sought after and are increasing in value given many developers are aware of the substantial supply / demand mismatch occurring across Melbourne.

<h2>2023 Apartment Value Rates</h2>

Charter Keck&nbsp;Cramer collaborated with their valuer colleagues and sampled several BTS apartment projects of varying scale across 10 suburbs in <a href="/developments/melbourne-vic">Melbourne</a> of similar scale that have been launched for sale to market in H1-2023. That's allowed them to&nbsp;understand the relative change in off the plan value rates in projects as at 2018 and 2019 (pre-COVID) compared to 2023.

They used the two-bedroom, two-bathroom product as it was the most popular and allowed the most meaningful comparison to be made.

They found that off the plan value rates have increased by +15% to +25% in several projects.

[smartcode_project:default project_id=342 project_image_fid=169551]

"We remind the industry that quite simply, people need a place to live. Given the shortage of supply and substantial demand for housing there is going to continue to be a large mismatch between supply and demand for housing across Melbourne over the next 2-4 years.

"At present, it is apparent to Charter Keck Cramer that the ability to increase off the plan value rates (and by how much) comes down to the developer, brand, location and target market.&nbsp;Some projects have increased value rates by only +2% to +5% whilst others have increased them by amounts greater than +25%."

Charter Keck Cramer's view is that&nbsp;in <a href="/developments/melbourne-vic">Melbourne</a>, the pre-COVID off the plan value rate of $10,000 per sqm is now closer to $12,000 per sqm, whilst the pre-COVID off the plan value rate of $12,000 per sqm sqm is now closer to $14,000 per sqm.

"This requires a change in mindset that needs to be led by the development and financer industry after which it is anticipated that the buyer market will follow given they have limited other alternatives in the current market."

<h2>The Outlook</h2>

Charter Keck Cramer believe the buy to sell apartment market in Melbourne is in the process of being pulled forward.

"Charter Keck Cramer has spoken about the structural changes in living preferences that are occurring across <a href="/developments/melbourne-vic">Melbourne</a>. These structural changes include the take up of apartment living, and also renting and renting for longer.

"It is Charter Keck Cramer’s view that the flow on effect of the pandemic described above has meant that the maturity of the BTS apartment market in Melbourne is in the process of being pulled forward (or “jumping”) by a property market cycle (i.e. 7-10 years). This will continue to play out over the next 12 months."

They say part of the&nbsp;pull forward in market maturity (evolution) will be that larger numbers of occupiers embrace living in apartments as well as the buyer market accepting higher prices for BTS apartments as this product type continues to become more mainstream. &nbsp;

"The other critical part of this expedited apartment market maturity however is that developers will need to respond by delivering owner-occupier quality apartments. Some examples of these features include apartments with extra storage, lots of communal amenity, larger living areas, larger functional balconies and more 3 Bedroom apartments." 
 
Charter Keck Cramer also believes that the RBA is close to the top of the rate tightening cycle.

"When rates stabilise, it is anticipated that market demand will start to be expressed and sales rates will accelerate. When rates start to be cut, there is anticipated to be an extremely elastic response across the entire housing market with the BTS apartment market well poised to be a primary beneficiary for many of the reasons highlighted above.&nbsp; "

Charter Keck Cramer said this week that, despite the current difficulties in the marketplace which have stemmed from the aggressive interest rate rises over the last 18 months, there are a number of reasons why apartment values will go up.



Melbourne off the plan apartment values could spike 25 per cent: Charter Keck Cramer

Construction has now commenced on one of Fishermans Bend's most sustainable developments.

Developer Gamuda Land has appointed Crema Constructions for its 20-level apartment development, The Canopy on Normanby.

Jarrod Tai, General Manager of Gamuda Land in Australia said they chose Crema&nbsp;due to the complex needs of the build, particularly when bringing some Melbourne-first innovations to life.

"Its outstanding reputation in the industry aligns perfectly with our commitment to delivering world-class sustainably led projects.

"Crema’s unrivalled knowledge of the local Fishermans Bend area and the conditions of the site further solidified our decision to appoint them. We are confident that this collaboration will result in a remarkable development that surpasses the expectations of the community."

Working alongside the team at Gamuda Land, Crema will develop a ground source heat pump, installed within the building's foundation piles. The innovative technology will store and pull thermal energy from underground to reduce power bills and provide sustainable energy for the building.

Never before seen in a <a href="/developments/melbourne-vic">Melbourne residential setting</a>, the ground source heat pump will allow the team the opportunity to further develop it while providing social and financial benefits to occupants not found in other developments.

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Crema brings with them a wealth of expertise and a proven track record in the construction industry. Known for its commitment to excellence, innovation, and quality craftsmanship.

Crema’s in-house team is bolstered by accredited professionals experienced in design optioneering to test the embodied carbon &amp; operational carbon implications of different solutions. Utilising early engagement within the design process will allow the team to target the optimisation of key trade packages representing significant carbon contributions to the building.

To further complement the project’s sustainability focus, Crema will utilise its in-house concrete supplier, Piave Premix Concrete, who have developed green concrete mixes to inject the same levels of sustainability in each foundational facet of the development.

The site was purchased by Gamuda Land in 2022 for $24 million and will bring Melbourne-first sustainable initiatives to the forefront. Earlier this year, Gamuda Land Australia appointed Mann as the demolition contractor on the project to assist the developer in safely and efficiently dismantling the existing structures onsite.

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Mann was tasked with working to a 95 per cent recycled materials target. To ensure this could be met, Mann incorporated meticulous measurement processes, tracking all materials that leave the site on a per-tonne basis and carefully monitoring which materials go to landfill and which direct to recycling facilities.

Mann aims for a 100 per cent recycling rate across all its projects in line with its strong commitment to environmental consciousness. The demolition contractor actively contributes to the conservation of natural resources and the reduction of pollution.

This commitment directly aligns with the work that Gamuda Land is setting out to achieve across its numerous projects and is a major reason why the group was appointed, all underpinned by its distinct sustainability and conservation principles.

The Canopy on Normanby marks the second time Gamuda Land and Crema have collaborated, previously delivering the developer's inaugural <a href="/developments/melbourne-vic">Melbourne project</a>, 661 Chapel Street. The development went on to win best Commercial &amp; Residential Design at Architectural Design’s 2019 Good Design Awards.

With demolition now complete, early works by Crema are due to commence this month

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Crema will be coming on board to assist Gamuda Land achieve its sustainably-led energy solutions at the project, bringing with it some Melbourne-first innovations

Gamuda Land and Crema Constructions break ground at The Canopy on Normanby

Central Equity's latest development, Parkhill Apartments, offers residents the ideal location on the fringe of the Melbourne CBD. Situated just minutes away from a range of amenities, the development provides the perfect balance between tranquility and urban living.

Residents are just a three-minute walk from&nbsp;Flagstaff Gardens. The famous Queen Victoria Market is also located within a short stroll, allowing residents to indulge in a variety of fresh produce.

For those seeking the energy of the CBD, Parkhill Apartments offers easy access to the hustle and bustle of the city. Within four minutes, residents can hop on a free tram that conveniently connects to RMIT, Emporium, and Melbourne Central.

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Flagstaff Train Station is also only a seven-minute walk away, providing further transportation options. Trams connecting to Melbourne University are also within an eight-minute walk, making it effortless for students to commute to and from campus.&nbsp;The Airport Skybus Terminal is also within an eight-minute walk, ensuring stress-free travel to and from the airport.

Sports enthusiasts will appreciate the proximity of Parkhill Apartments to Marvel Stadium, just an eight-minute walk away, while for those seeking retail amenity, iconic shopping precincts such as Emporium and Melbourne Central are both just minutes away from the steps of Parkhill.&nbsp;

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Parkhill Apartments also offers access to a range of educational institutions, making it an ideal choice for families. Within a short walk, prestigious schools such as Haileybury College City Campus, North Melbourne Primary School, and University High School are located.

Renowned universities like William Angliss Institute, RMIT University City Campus, Victoria University City Campus, and the University of Melbourne are also within proximity, all located within a 15 minute radius.

One and two-bedroom apartments can still be purchased in the completed development, with prices starting from $529,000.

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On the doorstep of 408 Spencer Street: What's around Parkhill Apartments

Development Victoria is making significant progress with the construction of its Springvale South community, Coomoora.&nbsp;

Townhouse construction by Creation Homes is underway, with 47 townhouses set to be delivered alongside 16 land-only lots creating a diverse range of housing options available.

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Prices for the final two remaining Viola townhouses have been reduced to $630,000, meaning buyers save $10,000 and only require a five percent deposit to purchase, with no more to pay until settlement, making it a perfect opportunity for first home buyers to continue saving whilst the home is being built.&nbsp;

The remaining two-bedroom Viola townhouses feature a generous sized family room, dining and kitchen space that opens onto an east-facing balcony overlooking Coomoora Central Park. A first floor bedroom will sit alongside a bathroom and study nook, as well as a private ground floor master suite.&nbsp;

The townhouses boast an angled roofline and a pared back facade, donned with contemporary cladding, and the homes come complete with one car space.&nbsp;

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Coomoora has been designed with residents' well-being in mind, with approximately 10 percent of the site devoted to common open space. This includes two key park areas with communal bench seating and landscaped areas.

An additional 10 percent has been designated as public open space, facing Coomoora Road. This open space will provide additional opportunities for residents to enjoy the outdoors and connect with nature and has already been delivered as part of the project.

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