Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
Dexus Property Group and its Wholesale Property Fund have jointly acquired the under-construction 480 Queen Street office tower from Grocon at an estimated cost of $543.9 million on completion.

Each entity will hold 50% of the asset.
The 31-level premium-grade office development spans 55,561 square metres of office space located in Brisbane’s Golden Triangle, with dual access via Queen Street to the south-east and from Adelaide Street to the north-west.
It will be one of the few premium office towers in the Brisbane CBD to offer large office spaces of up to 2,800 square metres, and is expected to appeal to the high-end corporate tenant market.
The initial yield from occupants is estimated to be 7.25% on completion, based on current pre-commitments and that income guarantees are met.

Already 40% of office space has been pre-committed to future tenants including mining giant BHP Billiton and law firm Herbert Smith Freehills and with its 6 star, Green Star environmental rating, the building is expected to further attract interest from KPMG, NAB and the Commonwealth Bank.  

Construction on the tower has already commenced and is expected to be completed by February 2016.

Dexus’s office portfolio weighting is expected to increase by 1% to 79% following the acquisition with its weighting to the Brisbane CBD office market to be 11.6%.
"Despite mixed short-term fundamentals in the Brisbane office market, we remain confident in the overall metrics for quality, well located properties such as 480 Queen Street which provides premium grade office space with superior specifications and is ideally located in Brisbane’s Golden Triangle," says Kevin George, Dexus's exeuctive general manager of office &amp; industrial.
“Income guarantees expiring around September 2018 will provide security against any near-term uncertainty within the Brisbane market."
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Dexus buys Brisbane office at 480 Queen Street for $543.9 million 

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A recent Victorian Supreme Court decision in favour of a Melbourne apartment owner that operates serviced apartments in a Docklands residential building has been slammed by the Sydney-based Owners Corporation Network (OCN).
Stephen Goddard, a Sydney strata lawyer and chair of the OCN, told Property Observer allowing apartment owners to turn their residential units into hotels rooms or serviced apartments would “degrade property values” and result in strata fees rising due to higher maintenance costs.
It follows the Victorian Supreme Court overturning an earlier ruling by the Building Appeals Board that prevented Paul Salter from operating his Docklands Executive Apartments at the 350-unit Watergate tower.
Salter had lost an appeal to the Building Appeals Board in March this year after he received building notices in April 2011 with respect to three apartments being used as short term serviced apartments that were ruled to have contravened the Building Code of Australia.
The City of Melbourne was a defendant alongside the Building Appeals Board in its legal dispute with Salter.
The court ruled that the decision of the Building Appeals Board must be quashed and the appeals made by Salter be remitted for re-hearing and determination in accordance with law.
Goddard says the OCN is “completely behind the City of Melbourne”.
“It’s neither good public policy nor in the public interest to convert residential apartments into boarding houses or hotels on common property rates," he says.
“We are surprised and disappointed at decision of the Supreme Court of Victoria.”
Goddard says the decision will have national ramifications with the potential for parts of Docklands to start looking like the Gold Coast.
He says short-term letting of apartments is also a problem in Sydney, citing one example of a buck’s night in an apartment building, where windows were broken and the swimming pool had to be drained to remove all the glass.
“The allowing of checkerboard short term tenancies results in the overall degrading of amenities and capital values and will result in increases in levies.
“It’s short term profiteering but with a long-term cost," he says.
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Short term renting of apartments will degrade strata values and push up fees: Owners Corporation Network

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While the federal Department of Immigration has yet to issue any Significant Investment Visas (SIVs), over 200 applications from Chinese investors and a smattering of other nationalities should soon be in the post.
Most are targeting investments in NSW and Victoria, and the granting of the visas is expected to have positive reverberations for the top-end property markets in cities like Sydney and Melbourne, where demand for prestige real estate has been low compared with more affordably priced properties.
The SIVs, colloquially called "Golden Ticket" visas are available to wealthy investors who can invest $5 million in approved investments for four years and are then eligible for permanent residency. There is no English language requirement, though they must stay in Australia at least 160 days within those four years.
The applicant, spouse and dependent family members can live in Australia immediately after approval.
While the rules of the SIV specifically exclude direct investment in real estate, applicants can invest in an unlisted managed fund that holds Australian direct property assets and/or a trading business/ company.
According to the latest figures from the Department of Immigration, 222 invitations have been issued to investors to apply for a SIV.
This is up from the 131 invitations to apply issued by late February.
Of these, 212 invitations have been issued to Chinese investors with the remaining ten coming from Singapore, Japan, Taiwan, Germany, Hong Kong and the US.
Almost half (101) of these invitations are for applicants looking to invest in NSW, with 81 in Victoria and 29 in Queensland.
A surprisingly small number – just 8 – are looking to invest in mining-rich WA with three planning to invest in South Australia.
The 222 invitations issued by the Department of Immigration follow it receiving 345 expressions of interest from Chinese investors, seven from Hong Kong, two from India, three from Japan, four from Singapore, two from Taiwan, three from the US and one application each from 13 other countries.
Earlier this month, Knight Frank established a <a href="/news">special sales team specifically targeting wealthy Chinese investors</a> following the introduction of the significant investment visa (SIV).
The Knight Frank team includes Chinese born agents and people with experience dealing with Asian investment, led by Dominic Ong.
Ong believes Chinese spending overseas is increasing and won’t peak for another five years.
“During my recent visit to Shanghai and Beijing, we are seeing Chinese investors increasingly looking to diversify their portfolios and they view Australia as a safe haven and a long term investment destination.
“We are currently working with some 20 groups of Chinese investors sourcing office towers and shopping centres to hotel investment and land development projects.”
Th SIV program was launched in November last year.
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None issued yet, but significant visa applications dominated by Chinese investors eyeing NSW and Victoria

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Recent reports reveal that Australia has overtaken the US as titleholder for “home to the world's largest houses”.
Large ‘McMansions’ on expansive suburban blocks have long been held up as the ‘Great Australian Dream’ ideal, while smaller inner city apartments copped a pretty bad rap as the cheap and nasty end of the property market.
However, <a href="https://www.propertyobserver.com.au/residential/times-are-changing-and-apartments-are-on-the-rise-terry-ryder/2013041560408" target="_blank">times are changing</a>, with many home buyers and tenants forced to reflect on whether their priority is square footage and a big backyard in the burbs or getting into a property without breaking the budget.
Suddenly that one-bedroom apartment seems a lot more appealing.
Whilst many developed countries have embraced the virtues of high-density accommodation clustered around major cities – think New York, Paris, London and Tokyo – here in Australia, our culture has been based on backyards, BBQs and wide-open family spaces.
Now though, a demographic shift is occurring, with more single person households and childless couples choosing to live in and around our big cities where employment and lifestyle factors are big drawcards.
Figures from the Australian Bureau of Statistics (ABS) reveal that the number of one person households will surge to between three million and 3.6 million by 2031; a dramatic shift when you consider that in 2006 only 1.9 million people lived alone.
This massive increase is due to a number of factors, including:
<ul>
<li>Gen X downsizing as their children grow up and leave the family home.</li>
<li>A forecast jump in the number of DINKS (Double Income No Kids). According to the ABS, couple-only households are set to overtake the number of families with offspring in the next two or three years, and it's expected that DINKS will make up 60% of all couple-only households by 2031.</li>
<li>A rapidly growing population and continuing housing shortage in some of our major cities.</li>
<li>Ongoing affordability issues and increasing rental prices forcing many to rethink their size requirements.</li>
</ul>
Demand for one bedroom apartments, which skeptics have long considered to be less desirable, is set to soar as many Australians adjust their ideals according to what they can afford. And one of the questions they'll be asking is: do I really need that extra bedroom?
In the past, singles and couples have, by and large, sought out two bedroom apartments with the perception that they offer larger living spaces and the convenience of extra storage.
However, with median price tags for such real estate heading upwards of $500,000 and rents soaring over $500 per week in many desirable locations, the affordability barrier is encouraging many tenants, investors and home buyers to accept one bedroom units as a viable alternative.
Recognising this growing trend, developers are jumping on the bandwagon and including more one bedroom units in their large scale projects. But be wary – the price of many of these new apartments is going up as their size is going down.
 
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So do one bedroom apartments make good, affordable investments? 
 
Is there enough ongoing future demand from tenants and owner occupiers alike to ensure they perform as long-term cash cows?
The simple answer is – yes!
Why?
Because affordability means more owner-occupier buyers will be pushed into this type of real estate as they sacrifice size for location, thereby increasing demand and placing upward pressure on prices. These apartments are often located closer to the city and major work nodes as well as universities and hospitals, in areas that generally have efficient transport connections, plenty of retail facilities and social amenity; all key elements high on the list of young buyers.
In addition, tenants seeking rental accommodation in and around desirable lifestyle locations will look for affordable one bedroom alternatives, meaning investors will have a large tenant pool to help pay the mortgage.
Sure, one bedroom accommodation caters to a narrow demographic of one and two-person households, but the reality is this is a mismatch of the demand from this growing demographic and the relatively restricted supply of established one bedroom apartments that are “investment grade” properties.
I have to say that some of my best performing investments over the last few years have been one bedroom apartments. They attract a diverse range of tenants, including Gen Y’s making the break from mum and dad; young professional couples, middle-aged singles as well as downsizing baby boomers.
A few words of warning:
<ul>
<li>Small spaces can either be highly functional or incredibly pokey, meaning the design and layout of your apartment is critical.</li>
</ul>
<ul>
<li>Avoid studio apartments. They are too small, the banks don't like them and they are very hard to on sell. Instead, go for something that offers at least 50 square metres of indoor space and if you can manage a balcony and plenty of clever storage options, all the better. Off-street parking is a desired bonus, but not necessarily required if close to transport</li>
</ul>
<ul>
<li>Steer clear of new and off-the-plan developments, especially in the CBDs of our major capital cities. Especially in Melbourne, where there is a huge oversupply and Brisbane with a potential oversupply problem.</li>
</ul>
<ul>
<li>Avoid the large generic developments sold off the plan in the center of major cities. While these might seem shiny and new, they quickly lose their lustre when people realise they lack character and the timeless appeal that puts property in continuous strong demand. Usually the majority of buyers in these soulless complexes are investors, while owner occupiers – the true driving force behind real estate values – tend to stay well away in preference of something more established or in a boutique block.</li>
</ul>
So next time you're shopping for an investment remember that it's not the size of the property that counts, it's the size of the profit you'll realise at the end of the day!
Michael Yardney is a director of <a rel="nofollow" href="https://www.metropole.com.au/">Metropole Property Strategists</a>.
 
 
 
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Warning, but yes small apartments offer big property investment possibilities: Michael Yardney

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A couple of years ago at an property show in Sydney, I noted the abundance of overseas property investment stands.
Whilst most were related to the US, Thailand, and Bali, there were a couple of stands fronted by New Zealand specialists.
At the time I was focused on other things and did not really entertain the prospect of investing in the Kiwi market.
However, after doing some further digging recently, I uncovered more about our neighbour to the East, Aotearoa; the ‘Land of the Long White Cloud’.
Today I thought I’d provide a few of the pros and cons I perceive for investors considering the New Zealand market.
Whilst my findings are certainly very limited, and my own knowledge of, and experience in, this market is limited to many snowboarding trips and a few tongue-in-cheek jokes, I think New Zealand is certainly a market to consider for those who can see value in offshore property investment.
As merely a ‘tourist’ in my coverage of this market, I am keen to here from other Australians who have had residential property investment experience in New Zealand.
No doubt there are many further pros and cons that I have neglected to mention.
Cons:
Macroeconomic factors that challenge job security:
Some macroeconomic limitations can adversely affect many of the property markets in employment centres such as Auckland and Wellington.
According to Wikipedia, New Zealand overall has a market this is quite connected to international trade partners such as Australia, Europe, USA, China, Japan, and Korea.
However, what comes with these connections are the peaks and troughs that these bigger markets can fluctuate through. What I am getting at is that for a country so heavily dependent on trade with other markets, jobs can be adversely effected at random, in Auckland and Wellington.
Environmental challenges:
The tragedy that was the 2011 Christchurch earthquake changed the city of Christchurch forever.
The quake was the result of what was a previously-unknown defined tectonic plate fault-line until about 2010; leading to the big 6.3 magnitude quake, just outside the CBD area of the city.
Since then the city has been rebuilding and creating infrastructure that is better-equipped for future tremors. Still, the unpredictable volatility of the ground beneath this city has led to many investors recording losses and selling properties at reduced costs in and around this Canterbury region of New Zealand.
Environmentally and ecologically, Australia and New Zealand could not be more different. In Australia, the continent is very secure, with zero tectonic plate faultlines meaning that we can pretty much build what we want, where we want.
Conversely, New Zealand as a nation is constantly reviewing and upgrading needs-assessments for construction projects ranging from small granny flats, all the way up to skyscrapers on the city skyline.
There is actually one main pro and one main con to perceive this moving into the future:
Con: existing dwellings may later be required by law to be ‘future-proofed’. As an investor this is high risk. You could pick up a house for a great rate now, but what happens in a few years when new compliance construction laws come in, requiring you to fortify the dwelling to ensure its compliance with new laws?
The costs involved could completely diminish any further gains-potential from the property, as a viable investment. This trend may or may not be confined to ‘known’ Earthquake-risk areas. I.e. the New Zealand government could nationalise these compliance laws, which could upset the property investment landscape significantly
Pro: This has potential to create the ‘San Francisco Effect’ for property investors. The San Francisco Effect is a term I have just made up then! San Francisco is a city on a limited volume of land – a trait that on its own is enough to effect supply and demand ratios positively for investors – with the added challenge of being earthquake-prone.
This reduces the height of buildings that can be built there, and also the materials able to be used. Ever notice how those pretty three-storey weatherboard homes line the streets neatly in San Francisco and cost a small fortune to purchase? Well, that trend was not down to a designer saying ‘let’s make San Fran a city of really cute, adorable old-fashioned houses and not big concrete-and-glass apartment blocks like every other city’.
No, the materials used and height limits decided are necessary to earthquake-proof the dwellings. This creates further limitations for future city expansion, making those dwellings highly coveted in demand, and thus increasingly returns and values sharply. Cities like Christchurch, which is an important economic hub for New Zealand, could go down this path in the future, meaning that securing a good deal on an earthquake-compliant, well-located property in Christchurch now, could pay significant dividends in the future.
 
<hr class="system-pagebreak">
Pros:
Opportunity exists for year-round holiday investment property types:
Though I mentioned above some challenges with job security due to macroeconomic and international-dependent factors adversely affecting job supply, there are opportunities in New Zealand property in areas not as affected by these drivers.
Take, for example, certain areas of the south island where tourism is high, year-round. In Australia, it is harder to find tourism-dependent property types that can consistently (read: ‘year-round’) provide secure rental revenue.
Here in Australia, the weather greatly affects such areas. For example, in the tropic north, tourists avoid the wet season, making an investment property up there, very seasonal, with a high risk of long-term vacancy during the ‘off’ months.
In cooler tourist areas such as the Snowy Mountains and Tasmania, it changes again, with the demand in the ‘off months’ for each of these regions arguably reducing heavily.
In New Zealand, many holiday hotspots are valued year-round for their appeal. Queenstown in the South Island for instance; is valued in winter for its skiing/snowboarding, yet in summer it can still achieve similar patronage numbers for is river-sports and extreme sports activities along with trails and trekking that is otherwise difficult in winter. Areas with year-round appeal like this can make for solid investments.
Your Australian dollar buys you more:
This is a pretty obvious one but must be stated nonetheless. The AUD certainly performs well when buying NZD currency.
At the time of writing, XE.com reported that 1 AUD will buy NZD 1.22. This is significant when considering the entrance costs to any property investment. Furthermore, regardless of the dollar conversion figure; without a doubt your dollar goes further in many parts of New Zealand when compared to Australia, on an apples-for-apples basis.
Yields can be as significant in some parts of New Zealand as say a US investment. Whilst capital growth may not be as significant as Australia, if you can ‘hold’ a high yielding property for five years, the opportunity to open more doors and grow a portfolio quicker, is significant.
Stamp duty concessions:
When you compare Australia with New Zealand in terms of ‘up front costs’, you cannot help but think somewhat that Australians are being ripped off. The extortionate stamp duty costs attached to investment (aka non-first-home) properties in Australia are amongst the worlds highest.
In truth, it is important to note that ‘stamp duty’ as a tax, does weed itself into a property investor’s balance sheet in some way or another, in many other countries in the world; but it is certainly not as initially prohibitive in the way Australia’s is, when spread out over a longer term or payable later on. For example, in the US, ‘county taxes’ are payable yes, but these are significantly higher than say the ‘council rates’ you’d expect to pay quarterly when holding property in Australia.
This is due, in part, to some of the ‘stamp duty’ tax making its way into county tax costs. The difference is, you do not have to pay an huge sum up front.
This enables you to pour more money into the actual deposit and start your property investment career much more quickly. Well according to a 2012 white paper by Deloitte on ‘Taxation and Investment in New Zealand 2012’, New Zealand does not carry any stamp duty on property purchases. And it gets better; in addition to this, there is no transfer fee/tax on property purchases, along with no national or provincial (I.e. ‘North Island’ or ‘South Island’) land tax on physical plots of land in the country.
Counties and councils will charge their own land rates but these are certainly not as extreme as land tax thresholds payable in states of Australia when you own land of greater values than these thresholds. One thing to be mindful of though, is the way Australians are taxed for New Zealand investment properties.
Whilst NZ will not charge capital gains tax at the point of sale, in Australia you will be liable for tax when selling your NZ property, though this tax rate is in line with your tax rate in Australia. This is as per the CER agreement between the countries. You income from the NZ property whilst you are holding it is taxed at your Australian rate.
However, building depreciation schedules are much better in New Zealand and higher depreciation rates can be claimed on any property (no age restriction like in Australia).
 
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Fostering the ‘Special Relationship’ between Australia and New Zealand in loan terms:
Following on from the taxation incentives of buying, holding, and selling residential property in New Zealand, there are added financial advantages when investing as an Australian that many other non-New Zealand citizens are not privy to.
One of the biggest advantages comes via lenders who operate in both countries. As an Australian, when buying property in countries like the US and UK, investors are often at the mercy of dealing with in-country lenders in these places who, on top of charging higher interest rates on mortgage products, will charge additional set-up fees to foreign investors.
Lenders such as ANZ, however, are able to provide access to Australian citizens, loans securing properties in New Zealand, at competitive interest rates and often-times without any of the additional fees that they may ordinarily charge investors from other countries.
New Zealand is a very business-friendly country:
Seemingly contradicting one of the cons I mention above about the NZ economy being tied to other regions, New Zealand is becoming a very attractive country to do business, and offers many incentives to international business to set up shop there.
Just as some states in the US (Delaware, and Nevada, for example) offer tax incentives and infrastructure support to encourage business to those states), New Zealand offers incentives that countries such as Australia, Indonesia, and Singapore, do not.
According to Wikipedia, back in 2005 the World Bank praised New Zealand for being the most business-friendly country in the world. Being so reliant on its agriculture and tourism industries and knowing it cannot continue to compete with much larger countries in the agriculture and technology sectors, Kiwi’s have cleverly aligned their incentives to their strongest suits, resulting in an economy that continually ‘defies the odds’ that are stacked up against it.
Supply and demand ratios are trending upwards for investors:
In Australia, we know that certain cities (Sydney and Darwin for example) are significantly undersupplied with available properties.
In other words, demand is greater than supply which in turn pushes both rents and values up. This is great news for investors, not so great for aspiring home owners and renters. Other areas though (Melbourne and Gold Coast City for example) have the opposite problem – oversupply, which is not good news for investors but holds potential opportunity for aspiring home owners in those cities).
But how does this differ in New Zealand and what is the trend? According to February 2013 research from Properazzi NZ, supply and demand is varied in the main cities and population centres; so one must tread very carefully, as you would do when considering property in Australia.
No doubt Auckland continues to drive local demand, with supply levels subdued against demand for property, so there are opportunities in this city. However, there are also opportunities in smaller population centres based on demand. The Otago region is one such example. The other ratio in supply and demand is New Zealand’s ageing population. Just like Australia and many other developed countries (Japan, Sweden, Canada etc.), New Zealand is experiencing an ageing population that on the long term, could result in slower population growth. Curbing that however, is an incentivised skilled immigration program and as I mentioned previously.
There are incentives for more international business to set up shop there, which would in turn bring new workers in to New Zealand, which over time would increase the population again.
So, where does this leave us, and what is my verdict (if there is one to be made from my limited findings)?
Well, like most markets around the world, New Zealand is no doubt a market comprised of hundreds of sub-markets, and there is value and risk to be associated with many of these.
Personally I would consider a NZ investment as a component to my portfolio, as I think whilst the potential for rapid capital gains is not as great as Australia, this could be offset by reduced holding costs and overall better mid-long term yield as you progress along with holding property there.
All of the existing Australia-based ‘due diligence’ checklist of items still apply, when canvassing potential properties in New Zealand. However, there are unquestionably some additional items that are specific to this market.
An ‘outside the box’ approach is required to due diligence when contemplating taking a plunge into this market as an Australian.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a> 
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Weighing the pros and cons of investing in New Zealand property: Cameron McEvoy

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First-home buyers can still take advantage of significant financial incentives and savings as state and territory governments prepare their 2013-14 budgets.
Victoria will be the first to announce its state budget on May 7 with Queensland to release its state budget on June 4 and NSW on June 18.
However, time is running out for some first-home buyer grants, which are due to expire at the end of the financial year.
In South Australia the $8,000 Housing Construction Grant (HCG) will expire on June 30. It applies to contracts entered into between 15 October 2012 and 30 June 2013, or in the case of owner builders, where construction commenced between 15 October 2012 and 30 June 2013. A property value cap of $450,000 applies.
And in the ACT, the Home Buyer Concession Scheme (HBCS), offering stamp duty concession to first-home buyers and anyone else purchasing a new home or residential vacant land under certain thresholds, is due to expire on June 30.
Nothing has yet been leaked about possible changes to first-home owner grants and stamp duty savings, but the Real Estate Institute of NSW (REINSW) is already campaigning for the reinstatement of first home buyer incentives in NSW for purchasers of existing properties as demand from this key sector continues to fall.
First-home buyer as a proportion of the mortgage market fell to just 14.4% in February, down from 15% in January, according to ABS figures - their lowest share of the market in more than eight years.
“We are calling on the Treasurer to not only reinstate first home buyer incentives that were removed in 2012, but to also explore additional opportunities to assist first home buyers to take their first step onto the property ladder,” says REINSW president Christian Payne. “It is not too late for the NSW Government to reverse its decision to abolish from 1 January 2012, the stamp duty exemption/concession and from 1 October 2012, the $7000 grant, for those buying existing properties.
A similar campaign could be on the cards in Queensland, which also abolished the $7,000 first-home owner grant for those buying existing properties last year in favour of a $15,000 incentive for those buying or building a new home.
<a target="_blank" href="/news">Changing the name of the scheme</a> from the first home owner construction grant (FHOCG) to the 'great start grant’ in March is unlikely to have made any difference to sentiment.
This is what is currently on offer across states and territories: 
Victoria
On January 1 this year, the state raised its stamp duty discount for homes priced under $600,000 from 20% to 30%.
The higher discount kicked in on January 1, 2013, and applies to both existing homes and new homes, delivering first-home buyers additional savings starting from $600 to a maximum of just over $3,000 on a house price at $600,000.
First-home buyers can work out their stamp duty savings using this table provided the <a href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7" target="_blank">Victorian government’s State Revenue Office.</a>
Maximum stamp duty savings are now over $9,000. Combined with the existing first-home owners' grant of $7,000 there is nearly $16,000 in savings for those first-home buyers who are willing to venture into the property market in 2013.
The stamp duty discount will rise to 40% on January 1, 2014, and to 50% on September 1, 2014.
To qualify for the stamp duty discount, first-home buyers must also qualify for the $7,000 first-home owners’ grant.
All added up it means Victorian first-home buyers purchasing an existing home receive the highest amount of financial support from their state government.
Further information can be found on the <a target="_blank" href="https://www.sro.vic.gov.au/sro/SROnav.nsf/alltitle/First%20Home%20Owners?open">Victorian government first-home owner website</a>.
 
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NSW
A first-home buyer who purchases a $550,000 new home will get $35,240 in assistance.
This includes a $15,000 grant for first-home owners who purchase or build a new home valued at up to $650,000. The grant is available until December 31, 2013, reducing to $10,000 from January 1, 2014.
Non-first-home buyers who buy a new home are eligible for $5,000 whether the new home is off the plan or newly built with a value up to $650,000, The $5,000 grant is also available to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
First-home owners are also eligible for a maximum stamp duty saving of $20,240 for homes up to a value of $550,000, with duty concessions for new homes valued between $550,000 and $650,000. The transfer duty exemption cap on vacant land is $350,000, with duty concessions for vacant land valued between $350,000 and $450,000.
Further information can be found on the <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/">NSW first home benefits</a> website.
Queensland
A $15,000 first-home owner construction grant (FHOCG) is available. The FHOCG applies to new property bought or built at a value under $750,000.
First-home buyers also pay no duty on purchases up to $500,000, with a phasing-out rebate applicable for values up to $600,000.
For non-first-home buyers, the Queensland government offers a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase. The buyer must occupy the home for a period of 12 months – an applicant may lose the concession if he sells or leases part or all of the home before moving in or within a year of moving in.
Further information can be found the <a target="_blank" href="https://www.osr.qld.gov.au/first-home-owner-grant/fhog-fhocg-landing-page.shtml">Queensland first home owner grant</a> website
South Australia
South Australian first-home buyers have the chance to secure $23,500 from the state government, provided they build a new home.
The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into on or after October 15 and up to a value of $575,000, plus a further $8,500 housing construction grant (HCG). The housing construction grant replaces the $8,000 first-home bonus grant.
The HCG is available to all builders of new homes for properties valued up to $400,000, phasing out for properties valued up to $450,000 where contracts are entered into between October 15, 2012, and June 30, 2013, inclusive.
Concessions could rise to $39,830 if first-tome buyers buy an apartment off the plan in the Adelaide CBD under $400,000, where a stamp duty concession of $16,330 applies.
This part of a new stamp duty concession scheme available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330.
An example where a $39,830 saving would be available to a first-home buyer is <a href="https://www.realestate.com.au/project-aria+on+gouger-sa-adelaide-600000551" target="_blank">Aria on Gouger Street </a>being developed by Brock Urban Projects, where two-bedroom apartments are priced from $335,750.
Up until June 30 2014, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
Further information can be found on the <a target="_blank" href="https://www.revenuesa.sa.gov.au/IamaFHB">South Australia first-home buyer</a> website.
 
<hr class="system-pagebreak">
WA
A $7,000 first-home owner grant remains in place for a newly constructed or established home. It does not apply to vacant land purchased to build a new home. The total value of the home must not exceed $750,000 if the property is located south of the 26th parallel of South Latitude, or $1 million if located north of the 26th parallel of South Latitude. First-home buyers eligible for the $7,000 grant pay no stamp duty on homes valued up to $500,000 and up to $300,000 for vacant land. There is also The Home Buyers Assistance Account, which provides a grant of up to $2 000 for the incidental expenses of first home buyers when they purchase an established or partially built home through a licensed real estate agent for the purchase price of $400,000 or less.
Further information can be found on the <a target="_blank" href="https://www.finance.wa.gov.au/cms/content.aspx?id=3868">WA’s Department of Finance</a> website. 
ACT
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000. The territory government also offers a Home Buyer Concession Scheme (HBCS) to assist persons in purchasing a residential home or residential vacant land by charging stamp duty at a concessional rate. This scheme ends on June 30 and applies to homes valued less than $450,000 and land valued at less than $263,000.
Further information can be found on the <a target="_blank" href="https://www.revenue.act.gov.au/home_buyer_assistance">ACT Revenue website</a>.
Tasmania
A $7,000 first-home owner grant remains in place for both existing and new homes, with no cap on the value. Tasmanian first-home buyers buying or building a new home (including off-the-plan) are eligible for an additional $8,000 under the First Home Builder Boost Scheme, which applies from January 1 2013 to June 30 2014 if the qualify for the first-home owner grant.
Further information can be found on the <a target="_blank" href="https://www.sro.tas.gov.au/fhog">Tasmania first home buyer website.</a>
Northern Territory
For transaction after December 4 2012, a $12 000 first-home owner grant is available for an established home in the urban area or $25,000 outside of urban areas where the price of the property or construction of the home does not exceed $600,000. An urban area is the Darwin, Palmerston or Litchfield municipalities; Wagait Shire; the Darwin Waterfront Precinct; the “prescribed area” for the Darwin Rates Act, any other area prescribed by regulation.
The Northern Territory Government provides a stamp duty Principal Place of Residence Rebate (PPRR) to persons purchasing a new home or land on which to build a home. A calculator is provided to work out <a target="_blank" href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/StampDuty/StampDutyCalculators/Pages/PPRR-Calculator.aspx">stamp duty payable on a home eligible for the rebate</a>
Further information can be found on the <a target="_blank" href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/HomeOwnerIncentives/Pages/default.aspx">NT treasury page.</a>
 
 
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Still plenty to tempt awol first-home buyers as REINSW campaigns for reinstatement of $7,000 grant in state budget

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Dear Margaret, We are aware of the benefits of having a depreciation schedule compiled for investment properties. Can you tell me if there is any benefit in having a depreciation schedule compiled for one's principal place of residence? Many thanks,
Maria
While I frequently talk about depreciation, I guess we haven’t really painted the picture of how it looks as a bottom line.
Basically, all of the fixtures, fittings and furniture in any income producing property are eligible for you to make a claim for the depreciating value. This is done in consideration for the fact that one day you may have to replace them, and getting the tax breaks can help you to save up for that eventuality.  In a nutshell:
<ul>
<li>Each item has a different rate depending upon its effective life.
</li>
<li>Each year you work out how much value has been ‘lost’ and deduct from the income.  
</li>
<li>No money is lost, only value. That’s why we call it ‘on paper’.
</li>
<li>The same applies to the building but over 40 years
</li>
</ul>
Each movable item has a different rate that you can claim depending upon how long the tax office thinks it will last – usually between 2 and 10 years. This means that each year you work out how much value has been ‘lost’ and take that amount off the income.  
You haven’t lost actual money here, only value, but you do get actual money back as you now pay less tax on the income.  That’s why we call it ‘on paper’. You can do the same with the building, but it takes longer for that to run out, being 40 years
The extra tax you get back helps a lot with your cash flow – in essence the rent, plus your extra tax, make up your cash inflows, while your expenses make up the outflows. Claiming depreciation can mean that you reduce the gap between what comes in and what goes out and helps you to stay in the market longer!
As for your own home, as it does not produce an income there’s no point in having a schedule done as you cannot make any claims there. If you move out and make it a rental, you can have one done at that time.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
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Ask Margaret: do I need a depreciation schedule for the home I live in?

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The residential developer AVJennings has unveiled a $41.2 million equity raising to strengthen its balance sheet after hefty property project writedowns early this year.
The new equity will be used to reduce debt facilities, to fund growth objectives and for working capital requirements for its land sites and also the settlement payments for several previous land acquisitions due during the current financial year, including Elysium, The Ponds, Doreen, Eyre and St Clair.
AVJ currently has a significant portfolio of some 10,500 lots under control with many projects now in advanced stages and ready for build-out and development.


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AVJ says they will selectively fund investment in built form at the following projects:
• New South Wales: The Ridges Elderslie, Ravensworth Heights Goulburn, The Ponds Kellyville, Charterwood Wadalba, Arcadian Hills Cobbitty
• Victoria: Arena Officer, Lyndarum Epping/Wollert
• Queensland: Glenrowan Mackay, Essington Rise Leichardt, Villaggio Richlands, Creekwood Caloundra
• South Australia: Eyre at Penfield
<div>
• New Zealand: Hobsonville Point
</div>
</div>
</div>
The developer’s gearing is scheduled to reduce from 23.8% to 15.5%, following the raising with its consolidated net debt to reduce from $111.9 million to $72.7 million on a pro-forma basis as at 31 December.
AVJ has received credit approved term sheets to renew its existing club facility to 30 September 2015.
The well-known Melbourne-based developer, dual-listed on the ASX and Singapore exchanges, has advised that the chairman, Simon Cheong, will take up his full share of the offer.
The remainder - almost half the register - is to be underwritten by brokers, Bell Potter Securities.
The raising will be through a two for five, non-renounceable rights offer at a price of 37.5¢, which is significantly at a discount to the developer’s net tangible asset per security of 90¢. and a 1.3% discount to AVJ’s closing price on the last day of trading prior to the announcement of the offer.
“This capital raising will provide AVJennings with a stronger balance sheet to build on its diversified project pipeline and position the business for growth in the following years,” managing director Peter Summers said.
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With acquisitions due at Elysium, The Ponds, Doreen, Eyre and St Clair, AVJennings seeks $41 million equity raising after hefty project writedowns 

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The Consumer Price Index (CPI) rose  by a lower than expected 0.4% in the March quarter, according to ABS figures released today.
The trimmed mean increased by 0.3% to 2.2% year-on-year while the weighted mean was up 0.5% to 2.6% year-on-year with both measures of underlying inflation well within the RBA’s target inflation band of 2% to 3%.
This gives the RBA scope to cut the cash rate further if it deems it necessary.
Through the year, headline CPI rose 2.5% compared with a rise of 2.2% through the year to the 2012 December quarter.
Economists surveyed by Bloomberg last week forecast a 0.7% rise in the headline inflation rate to 2.8% year-on-year with the trimmed mean and the weighted mean forecast to rise 0.5% to 2.4% year-on-year.
"It is clear that at present inflation is not an issue, meaning that rates can stay lower for longer," commented CommSec economist Savanth Sebastian.
"Underlying inflation is tracking smack in the middle of the Reserve Bank’s 2% to 3% target band.
"Effectively the low inflation result ensures the Reserve Bank can maintain an easing bias and not feel an urgent need to shift to a more neutral stance in the next few months," he added.
The most significant price rises in the March quarter 2013 were for new dwelling purchase by owner-occupiers (+1.7%), pharmaceutical products (+7.6%), tertiary education (+6.5%) and tobacco (+3.7%).
The most significant offsetting price falls were for international holiday travel and accommodation (–5.2%), furniture (–6.8%) and fruit (–7.0%).
The overall housing component of inflation rose 1.2% in the March quarter 2013 with the other main contributors to this rise - apart from new dwelling purchase by owner-occupiers - being electricity (+2.4%) and rents (+0.8%).
Over the twelve months to the March quarter 2013, the housing group rose 5.1% with rises in all categories. The main contributors to the rise were electricity (+17.1%), rents (+3.5%) and new dwelling purchase by owner-occupiers (+2.8%).
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Inflation up lower than expected 0.4% in March quarter with rise in new dwelling prices noted

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The property market is a slow moving beast and when you are able to pick up on the trends and get on board, it allows you to make better investment decisions.
BIS Shrapnel’s emerging trends in residential market demand report released this week picked up on one of the most powerful trends driving the property market.
The report suggested that members of Gen Y are about to embark onto the next phase of their lives. These children of baby boomers grew up in the suburbs and when they left home, moved closer to the city looking to be close to lifestyle amenities and work.
They are now aged between 20 and 34 and are searching for a bit more room as they plan to settle down and start a family. While I agree with the findings in this report I would suggest this trend has been happening for some time and was started by the Generation X.
Gen Xers are now in the late 30s and 40s and many grew up in middle suburbs such as Vermont, Burwood and Oakleigh. Their parents who are now in their 70s and 80s started the urban sprawl in the 50s and 60s as they moved into these areas that were dominated by the first brick veneer homes.
As the Gen Xers got older they went searching for a more dynamic lifestyle than the sleepy suburbs had to offer. They pushed into to areas such as Richmond, Elwood and Fitzroy and either rented or purchased a property.
As they approached their mid 20s to 30s, the same age the Gen Yers are now, they went searching for more space. They had fallen in love with the inner urban lifestyle and wanted to maintain this as much as possible.
Many did not want to move back to where they grew up because it was too far away from the ‘action’ so they searched for areas that put them on the door step of they lifestyle they had become accustomed to. Run down houses in areas such as Camberwell, Hampton, and Northcote were snapped up by the Gen X’ers and strong capital growth in these areas followed.
1 Hartley Street, Northcote (pictured below) is a typical example of what they were looking for. It sits on over 500m2 of land, is close to the city, cafes and pubs and at the time was affordable with scope to improve the house. It was purchased in 1999 for $314,000.
<img alt="armstrongapril24one" height="398" width="470" src="/images/stories/2013/04/armstrongapril24one.jpg">
Today these owners have made a lot of money with the property now worth over $1 million. That is a growth rate of almost 10% compounding each year since it was purchased.
Now it is Gen Y’s turn. They are following a well-worn path established by the older generation. The difference now is many of the areas the Gen Xers moved to are out of reach as in most cases the entry point is a $1 million or more.
So the market has began to pulse out to more affordable areas. Suburbs such as Preston, Brighton East and East Burwood are now feeling the heat from the Gen Y’s who are striving to emulate what the Gen X’s have pulled off.
Last weekend this property at <a target="_blank" href="https://www.realestate.com.au/sold/in-12+taylor+ave%2c+burwood+east%2c+vic+3151/list-1">12 Taylor Avenue, Burwood East</a> went to auction.
The agent quoted the property to sell for $600,000 to $650,000. This quote was viewed as realistic as a slightly smaller but comparable property around the corner at <a href="https://www.realestate.com.au/property-house-vic-burwood+east-108277006" target="_blank">59 Lenna Street</a> failed to attract a bid at auction less than 18 months earlier. It eventually sold for $595,000.
However intense competition to get into this established area drove the price and the property sold for $772,000. This was a huge result and illustrates directly what the BIS Shrapnel is saying.
Getting into these markets is going to be more difficult for the Gen Yers however as they are not just competing with each other. These areas are also highly sort after wealthy immigrants coming to Australia from places such as China and India and this will put further pressure on capital growth.
Regardless of the reasons you buy a property either as a home or investment I believe we should always have one eye on its growth potential. The demographic movements of a population are a vital trend to understand and harness if we want to make the most of our property investment dollars.
Mark Armstrong is a director of <a target="_blank" href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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