<p>&nbsp;</p>

<p>A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.</p>

<p>The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.</p>

<p>The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.</p>

<p>[smartcode_project:default project_id=142550 project_image_fid=309367]</p>

<p>Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.</p>

<p>The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.</p>

<p>[smartcode_project:default project_id=142550 project_image_fid=309369]</p>

<p>“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;</p>

<p>“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”</p>

<p>[smartcode_project:default project_id=142550 project_image_fid=297878]</p>

<p>As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.</p>

<p>The next release at Elevate is expected later this year.</p>

<p>[smartcode_project_cta:default project_id=142550]</p>


“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

<p>Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.</p>

<p>NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.</p>

<p>Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;</p>

<p>Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;</p>

<p>Deicorp was recently approved for another new development next door to Showground Village.</p>

<p>The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.</p>

<p>“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.</p>

<p>“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."</p>

<p>Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.</p>

<p>[smartcode_project_cta:default project_id=133881]</p>


Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

<p>ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;</p>

<p>The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.</p>

<p>The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.</p>

<p>&nbsp;</p>

<p><img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" /></p>

<p>&nbsp;</p>

<p>There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.</p>

<p>Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.</p>

<p>Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.</p>

<p>A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.</p>

<p>“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.</p>

<p><img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" /></p>

<p>The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.</p>

<p>Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.</p>

<p>Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.</p>

<p>Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.</p>


Cedar Woods progresses with new apartment plans in Southbank arts precinct

<p>Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.</p>

<p>The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5481]</p>

<p>The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.</p>

<p>Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.</p>

<p>"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;</p>

<p>The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.</p>

<p>“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5485]</p>

<p>Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;</p>

<p>Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.</p>

<p>The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;</p>

<p>A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5488]</p>

<p>BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;</p>

<p>Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.</p>

<p>Williams said the team spent over a year searching for the ideal site before securing this location.</p>

<p>"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”</p>

<p>The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.</p>

<p>Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.</p>

<p>[smartcode_project_cta:default project_id=136432]</p>


BANKSII sales launch in booming East Brisbane apartment market

<p>The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.</p>

<p>Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.</p>

<p>Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.</p>

<p>The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.</p>

<p>To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.</p>

<p>Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.</p>

<p>The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.</p>

<p>The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.</p>

<p>Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.</p>

<p>The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

Construction Boom

<html><body>
<p>Helping Australians get into a home of their own and supporting tradies’ jobs are both key priorities for the as we build a comeback from the COVID-19 recession, according to the Morrison Government</p>

<p>The Treasury's latest figures released today show, that as at 31 December 2020, over 75,000 households have applied for a HomeBuilder grant, with 80 per cent of applications to construct a new home.</p>

<p>Tradies and home buyers in every state and territory has benefitted from these HomeBuilder applications;</p>

<figure><figcaption><p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/homebuilder_data.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="314" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/homebuilder_data.jpg?itok=sfbj8k87" width="580"></a></p>

<p><em>Source: Australian Treasury</em></p>
</figcaption></figure><p>As a key driver of our comeback, the Treasury estimates that HomeBuilder will now support up to $18 billion of residential construction projects.</p>

<p>HomeBuilder was designed immediately to inject confidence and encourage buyers back into the market to offset the devastating effects of the pandemic on the residential construction industry.</p>

<p>On all counts HomeBuilder has achieved this objective and kept hundreds of thousands of tradies in work who would have otherwise been facing the unemployment queue.</p>

<p>To maintain this momentum in Australia’s economic comeback, the Morrison Government has announced HomeBuilder will be extended until 31 March 2021.</p>

<p><strong>For all new build contracts signed between 1 January 2021 and 31 March 2021:</strong></p>

<ul>
<li>Eligible owner-occupier purchasers will receive a $15,000 grant; and</li>
	<li>The property price caps for new builds in New South Wales and Victoria have been increased to $950,000 and $850,000 respectively.</li>
</ul>
<p>In addition, the construction commencement deadline has been extended from three months to six months for all eligible contracts signed on or after 4 June 2020.</p>

<p>Extending HomeBuilder ensures there a steady pipeline of construction activity through to 2022.</p>

<h2>Three Victorian developments eligible for the HomeBuilder Grant:</h2>

<p><strong>1. The Docklands Residences</strong></p>

<p><em>Address: <a href="/buildings/the-docklands-residences-3-43-waterfront-way-docklands">3-43 Waterfront Way, Docklands VIC 3008</a></em></p>

<p><a href="/buildings/the-docklands-residences-3-43-waterfront-way-docklands"><img alt="" height="373" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/docklands.jpg" width="662"></a></p>

<p> 
</p>
<p>The Docklands Residences will sit atop a brand new 8-floor Marriott Hotel, and residents will be able to enjoy the use of 5-star hotel amenities, including a spectacular infinity pool, gym, sauna and spa, as well as Marriott’s hotel services such as room service, concierge and housekeeping.</p>


<p>The development will include 200 hotel rooms and 88 limited oversized residences, with enviable aspects of the water, city and Bolte Bridge.</p>

<p>With construction almost complete and settlement taking place in January 2021, few residences still remain, now selling from $693,000. </p>

<p><strong>2. 661 Chapel Street</strong></p>

<p><em>Address: <a href="/buildings/661-chapel-street-661-chapel-street-south-yarra">661 Chapel Street, South Yarra VIC 3141</a></em></p>

<p><a href="/buildings/661-chapel-street-661-chapel-street-south-yarra"><img alt="" height="480" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/661_chapel.jpg" width="700"></a></p>

<p> 
</p>
<p>661 Chapel St comprises spacious one, two, three and four bedroom residences across 30 magnificent floors. A soaring private lobby spanning four levels features a gallery-like space filled with renowned artworks, and six-star hotel-like amenities on the ground floor and level six all combine to deliver the ultimate luxury lifestyle experience.<br><br>
Due to the unique location, 661 Chapel St’s uninterrupted views can never be built out. These sweeping views encompass not only the iconic river, but also Melbourne’s CBD, impressive night or day, bay views to the south, and the greenery of the park-like campus of Melbourne High School.</p>


<p>There are one bedroom and two bedroom apartments available from $546,000 and $798,000 respectively.</p>

<p>Developed by Gamuda Land, it was designed by bird de la Coeur architects and is under construction by Crema Constructions.</p>

<p><strong>3. Moreville</strong></p>

<p><em>Address: <a href="/buildings/moreville-12-18-napier-street-footscray">12-18 Napier Street, Footscray VIC 3011</a></em></p>

<p><a href="/buildings/moreville-12-18-napier-street-footscray"><img alt="" height="472" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/moreville.jpg" width="700"></a></p>

<p>Designed with exceptional quality at the forefront, Moreville brings together 41 stunning 1, 2 and 3 bedroom apartments by the banks of the Maribyrnong River. High-end features and finishes are standard, with sleek monochrome tones, floor-to-ceiling windows and endless finely curated details. At the pinnacle, a spectacular rooftop terrace showcases sweeping city views with communal entertaining and gym facilities for residents.</p>

<p>A premium development embedded in Footscray’s heart, walking distance to its thriving centre, growing business hub and the vibrant market precinct, while cafes and retail will also feature on the building’s ground floor. Set in a quiet tree-lined street just 500m from Footscray train station, with direct freeway access nearby and the CBD just minutes away.</p>

<p>Two bedroom apartments in the development start at $525,000.</p>

<p>All of these developments also have deluxe residences for sale with prices over the HomeBuilder Grant threshold.</p>

<p>Further reading:</p>

<p><a href="/news/save-15-000-until-march-2021-what-the-homebuilder-grant-extension-means-for-off-the-plan-property-purchases" target="_blank">Save $15,000 until March 2021: What the HomeBuilder Grant extension means for off-the-plan property purchases</a></p>

<p><a href="/guides/buy-now-save-20-urban-listings-eligible-for-the-25-000-homebuilder-grant">Buy now and save: 20 Urban listings eligible for the $25,000 HomeBuilder Grant</a></p>

<p><a href="/news/everything-you-need-to-know-about-australias-25-000-homebuilder-grant-how-much-off-the-plan-homebuyers-could-save">Everything you need to know about Australia's $25,000 HomeBuilder Grant + how much off-the-plan homebuyers could save</a></p>
</body></html>

As at 31 December 2020, over 75,000 households have applied for a HomeBuilder grant, with 80 per cent of applications to construct a new home

urban.com.au

Victoria leads the HomeBuilder-based recovery with over 25% of new home construction

<p>The number of loans for the construction of a new home saw record-breaking levels in November 2020, as the figure, tracked by the ABS, record its sixth consecutive rise.</p>

<p>New home loan commitments in November jumped a further 7.2&nbsp;per cent higher than the record-breaking levels in October 2020 to now be 99&nbsp;per cent higher over the year.</p>

<p>HIA&nbsp;economist&nbsp;Angela Lillicrap says HIA&#39;s new home sales data suggests the detached housing finance approvals will continue to be strong over the coming months.</p>

<p>&ldquo;It is evident in today&rsquo;s data that HomeBuilder has been successful in boosting confidence in the market and creating work on the ground,&rdquo; Ms Lillicrap says, adding that the extension of&nbsp;HomeBuilder will see the strength in housing finance data extend into 2021,&quot; Lillicrap says.</p>

<p>The value of construction loan commitments grew 5.6 per cent in November, rising 75 per cent since July. This follows the June implementation of the Government&rsquo;s HomeBuilder grant in response to COVID-19.&nbsp;</p>

<p>Loans for first home buyers also soared in November, with 13,905 loan commitments from first home buyers&nbsp;the highest since 2009. The number of loans accounted for&nbsp;42 per cent of the total number of owner occupier loans issued in November.</p>

<p><img alt="" height="866" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/record_home_lending_commsec.jpg" width="1200" /></p>

<p>CommSec economist Ryan Felsman says housing activity across Australia is buoyant, supported by record low mortgage rates and government policy initiatives.</p>

<p>&quot;Home prices are lifting, new home sales have hit decade highs and increasing numbers of young Aussies are committing to home ownership,&quot; Felsman says.</p>

<p>New housing loan approvals hit record highs in November with the easing of lockdown restrictions in Victoria (up 19.6 per cent) further driving up home loan demand.</p>

<h2>Am I eligible&nbsp;for HomeBuilder?</h2>

<p>Time is running out for prospective HomeBuilder applicants to to advantage of the&nbsp;$15,000 grant to construct a new home, with the government stimulus set to conclude on March 31. Applications however will now be taken until April 14 2021.</p>

<p>To be eligible for HomeBuilder, below are the criteria:</p>

<p>-&nbsp;Construction must commence within six months of the contract being signed.</p>

<p>- The property value cannot exceed $950,000 in NSW, $850,000 in Victoria or $750,000 in all other States and Territories.</p>

<p>-&nbsp;Applications must be submitted to the relevant State Revenue Office by April 14 2021.</p>

<h2>What can I buy?</h2>

<p>Urban has taken a look at some projects across the country which qualify for HomeBuilder grants.</p>

<p><a href="/buildings/haven-altona-north-278-288-blackshaws-road-altona-north-vic-3025">Haven, Altona Heights</a></p>

<p>Prices: From $605,000</p>

<p><a href="/buildings/haven-altona-north-278-288-blackshaws-road-altona-north-vic-3025"><img alt="" height="778" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/haven_altona.jpg" width="1200" /></a></p>

<p>The Stockland developed Haven in Altona North offers a collection of boutique townhouses, designed by the award-winning SJB Architects. They have two, three and four bedroom townhouses, with prices starting from $605,000 for the two bed, two bath townhouses with a parking spot.</p>

<p>The three bedroom townhouses, spanning nearly 200 sqm, start from $742,000 and the four bedroom townhouses start from $805,000, with 216 sqm of space.</p>

<p><a href="/new-townhouses/luma-sunshine-north-247-st-albans-road-sunshine-north-vic-3020">Luma, Sunshine North</a></p>

<p>Prices: From $545,000</p>

<p><a href="/new-townhouses/luma-sunshine-north-247-st-albans-road-sunshine-north-vic-3020"><img alt="" height="607" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/luma_st_albans.jpg" width="1200" /></a></p>

<p>Development Victoria have secured a prime site in Sunshine North, with a vision to create a brand new collection of 300 townhomes, comprising of two, three and four bedroom configurations.</p>

<p>Prices start from $545,000 for the two bedroom townhouses set in a master-planned community by RobertsDay, with plans for a new 3,600 sqm park.</p>

<p>Sixth Avenue, Chelsea Heights</p>

<p>Prices: From $599,000</p>

<p><img alt="" height="912" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sixth_avenue_chelsea_heights.jpg" width="1200" /></p>

<p>Point Architects have designed the townhomes in the bayside Chelsea Heights, the development of the Aultun Group. They&#39;ve created 59 townhomes with prices starting at $599,000 for the two bedroom townhouses set over two stories. The three bedders start from $650,000 and the four bedroom townhouses from $820,000.</p>

<p>Sixth Ave. Chelsea Heights has already achieved&nbsp;a &lsquo;Best Practice&rsquo; rating for BESS (Built Environment Sustainability Scorecard) with many key sustainable design strategies including a 5 star gas hot water system, water efficient tapware and showerheads as well as bicycle parking provided within each home and recycled water for garden irrigation and toilet flushing. &nbsp;<br />
&nbsp;</p>

<p>&nbsp;</p>


New home loan commitments in November jumped a further 7.2 per cent higher than the record-breaking levels in October 2020.



HomeBuilder impact sees new home loan approvals continue to break record levels

<html><body>
<div>
<strong><span style="text-decoration: underline;">Pouf!</span></strong><br><strong><span style="text-decoration: underline;"><br></span></strong>In case it wasn't obvious, that was the sound of the mining construction boom vanishing into a cloud of coal dust.<br><br>Let's take a run through recent Lending Finance figures to see what we can learn.</div>
<div>
<br><strong><span style="text-decoration: underline;">Total lending softens again</span></strong><br><br>
</div>
<div>The data for January showed that total lending has pulled back a little from record highs in trend terms.<br><br>The seasonally adjusted lending finance result in September 2015 had been the highest in 7.5 years, but January saw another weaker month of lending recorded, in part due to the dampening of property investor loans.</div>
<div> </div>
<div>In seasonally adjusted terms total lending was down by -2.9 per cent from December, with the trend inching down over the past four months from a high of $72.9 billion to $71.3 billion.<br><br>In trend terms total lending is now only +2.1 per cent higher than one year ago, and appears to be softening.</div>
<div> </div>
<div><a href="/images/2016/03/14/A3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/14/A3.jpg" alt=""></div>
<div> </div>
<div>
<div>One of the key narratives over the past six months or so has been that while property investor loans have been stymied, owner-occupier lending has by and large ramped up to take its place.<br><br>Indeed this has happened to the extent that APRA is now beginning to sense that some of these loan reclassifications might just be a bit fishy.<br><br>Owner-occupier commitments pulled back a bit in January, although major renovation activity is now increasing at last.<br><br><div>Yet overall trend owner-occupier housing commitments of $21.6 billion are an exceptionally strong +18.8 per cent higher than one year ago. </div>
</div>
<div> </div>
<div>Business lending pulled back by a seasonally adjusted -2.5 per cent in January, reflected by the commercial finance trend in the chart below, the softer figures in part reflecting a huge year-on-year decline in commercial loans to the mining sector, although agriculture finance has been rising solidly since 2013.<br><br>Lease finance, which represents only a small part of total lending finance, increased by 3.7 per cent in January.<br><br>Here's the summary chart, presented in trend terms:</div>
<div> </div>
<div><a href="/images/2016/03/14/A4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/14/A4.jpg" alt=""></div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Industry &amp; state trends</span></strong><br><strong><span style="text-decoration: underline;"><br></span></strong><span>Looking at commercial fixed loans by industry shows that with a couple of mega projects now dropping off the annualised data, commercial financing to the mining sector has shrunk by more than a quarter.</span><br><br><span>Fortunately for the economy at the national level, mining represents only a relatively small part of the total and a number of other industries have helped to pick up the slack, although this is unlikely to be much compensation for the struggling regions.</span><br><br><span>At the state level, Victoria (+13 per cent), Queensland (+11 per cent), and New South Wales (+8 per cent) have all enjoyed a solid uplift in commercial finance over the last year in rolling annual terms, but the other resources states of Western Australia and the Northern Territory have seen activity decline.</span>
</div>
<div><span> </span></div>
<div><a href="/images/2016/03/14/A6.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/03/14/A6.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">Investor lending stymied</span></strong></div>
<div>
<br>As noted above, property investor lending has been dampened, to be replaced by a rise in home loan activity.<br><br>
</div>
<div>Nowhere has this been more so in evidence than in Sydney where home loan commitments have exploded higher, mirroring a corresponding decline in investor loans. </div>
<div> </div>
<div>The property investor loans figures are not seasonally adjusted, and so are presented below on a rolling annual basis.</div>
<div> </div>
<div>Lately the best performing states for property investment loans have been Queensland, Tasmania, and South Australia, not least because these states did not experience the great boom that New South Wales and Victoria did.</div>
<div> </div>
<div><a href="/images/2016/03/14/A1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/14/A1.jpg" alt=""></div>
<div> </div>
<div>
<div>On the other hand investor activity in the Northern Territory continues to plummet back to monthly volumes last seen five years ago. </div>
<div> </div>
<div>The rolling annual total of property investor loans in the "Top End" has declined by 29.4 per cent in the past year alone, to now be down by 33.9 per cent from the September 2014 peak.</div>
<div> </div>
<div><a href="/images/2016/03/14/A2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/03/14/A2.jpg" alt=""></div>
<div> </div>
<div>
<span>There is a significant dwelling price correction in the post for Darwin, with rents also having fallen sharply.</span><br><br><strong><span style="text-decoration: underline;">The wrap</span></strong><br><br><div>Overall, January proved to be a softer month for lending, as might have been expected following on from Wednesday's housing finance data.</div>
<div> </div>
<div>These figures present further evidence of the conspicuous and precipitous decline in mining construction.<br><br>Total lending finance has eased over the past few months, although the headline figure remains strong enough in historical terms.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
</div>
</div>
</body></html>

pwargent-M4siyDbqQY

Piff, Paff, Pouf the mining construction boom vanishes: Pete Wargent

<html><body>
<div>Property transaction volumes are reportedly declining in Sydney, and nationally.<br><br>There are about 9.75 million residential dwellings in Australia, but despite a record construction boom stock turnover has fallen to well below 3 per cent, and way below the historical averages.<br><br>There could be any number of reasons for this.<br><br>Like a property market Jim Bergerac, I took a look through this month's housing finance data angling for clues.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Reason 1 - Staying put!</span></strong></div>
<div> </div>
<div>We know that the ridiculous cost of stamp duty (and selling fees) is a discouraging factor for people wanting to move house in Sydney, the only real question is how much of a factor it actually is.<br><br>Sure, stamp has been around forever, but the bands were designed with old dwelling prices in mind, and only recently have duties become farcically high.</div>
<div> </div>
<div>Stamp duty receipts in New South Wales have more than doubled since June 2013 to $8.63 billion. </div>
<div> </div>
<div>In June 2013 the buyer of a median priced house in Sydney paid about $27,000 in stamp duty, mortgage fees, and transfer duties. Today, they'll pay nearly $45,000.</div>
<div> </div>
<div>That's a lot of capital growth required to justify the costs of moving house, so we'll arguably see a shift towards renovating and staying put (or buying cheap and renovating) just as we did at Sydney's previous cyclical peak in early 2004.</div>
<div> </div>
<div>In fact, that's already happened to some extent in Sydney, while renovations activity is rising steadily in Melbourne and Brisbane.</div>
<p><a href="/images/2016/11/14/b1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/14/b1.jpg" alt=""></p>
<p> </p>
<div>People will campaign for higher or different types of property taxes, but it's hard to see it happening in NSW while this unprecedented windfall is enriching the state government.<br><br>The state's finances are in enormous nick - debt free and racking up big surpluses!</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Reason 2 - The trusty buy &amp; hold strategy</span></strong></div>
<div> </div>
<div>A structural change over the medium term has been the "asset lock in" associated with property investors, with the prevailing tax legislation more or less compelling investors to use interest only loans and play a longer term capital growth strategy.</div>
<div> </div>
<div><a href="/images/2016/11/14/B4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2016/11/14/B4.jpg" alt=""></div>
<div> </div>
<div>Again, investors have been around forever, of course, but since the latest round of monetary easing from 2012 this cohort has become a more substantial force in the larger capitals. </div>
<div> </div>
<div>The recent reclassifications of the stock of outstanding credit from investors to owner-occupiers are all too convenient to be taken seriously.<br><br>In any case, there has still been a 300 per cent increase in outstanding investor credit since 2003. Buy, hold, and compound the capital gains.</div>
<p><strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Reason 3 - Offshore investors</span></strong></p>
<div> </div>
<div>What of the residential construction boom?<br><br>In Australia non-residents are generally restricted to the purchase of new dwellings, thereby encouraging new construction, and this is clearly working now interest rates have been dropped.</div>
<div> </div>
<div>The housing finance figures show that domestic owner-occupiers accounted for only 31,500 or so financed purchases of new dwellings over the year to September 2016. </div>
<p><a href="/images/2016/11/14/B2.jpg" target="_blank"> Click to enlarge</a></p>
<div class="separator"><img src="/images/2016/11/14/B2.jpg" alt=""></div>
<div class="separator"> </div>
<div>The numbers are up in the most of the larger capital cities, but not that much in the context of a record residential construction boom.</div>
<p> <a href="/images/2016/11/14/B3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="/images/2016/11/14/B3.jpg" alt=""></div>
<div> </div>
<div>So, who is buying the new stock? Downsizing cash buyers would account for a proportion of new dwelling sales, super funds, and investors sold new stock by 'white knight' middlemen or advisors some more. </div>
<div> </div>
<div>But a huge share would be non-resident buyers, particularly now from China.<br><br>This is also a new trend - FIRB approvals have tripled in only two years!</div>
<div> </div>
<div>The Chinese phenomenon in Australian property in particular is a relatively recent one, so nobody can say for certain what trends will play out, but intuitively it wouldn't be a surprise if most non-resident buyers are in for the long haul.</div>
<div> </div>
<div>Arguably a fair proportion of dwellings bought by non-residents don't even make it to the rental market, let alone become resales. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>Unfortunately - unlike in <em>Bergerac</em> where the culprit was invariably either one of lovable rogue Charlie Hungerford's mates or someone related to the glamorous jewel thief - there is no singular  explanation for why transaction levels are down.</div>
<div> </div>
<div>High transaction costs represent one valid argument. </div>
<div> </div>
<div>Perhaps most people wanting to move house in this cycle have already done so, and the line of willing sellers is becoming exhausted. </div>
<div> </div>
<div>Other prospective vendors may fear that if they sell they might never get into the market as prices levitate away from them, for despite a thousand warnings prices are again forecast to rise strongly in Sydney, Melbourne, and Brisbane in 2017 (and with listings down, there are fewer homes to pick from). </div>
<div> </div>
<div>Certainly with so much hype around, lots of vendors may just decide that the easiest option is to do nothing.</div>
<div> </div>
<div>And finally, arguably a higher proportion of owners and investors are simply using real estate as a long term inflation hedge, due to rising land prices. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</body></html>

Construction Boom

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Construction Boom

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.