Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

First Home Buyer

<html><body>
GUEST OBSERVER
First home buyers are close to record lows in many of Australia’s states and they are below the long term average in every state except Western Australia.  
As at the end of April 2017, first home buyers comprised just 13.9 percent of all owner occupier mortgage demand nationally.  The situation is worse in New South Wales, where first time buyers comprised only 8.4 percent of the market over the first four months of the year so far; based on the long term average, first home buyers ‘normally’ comprise around one fifth of owner occupier demand across New South Wales.
<a href="https://www.propertyobserver.com.au/images/2017/06/29/Screen%20Shot%202017-06-29%20at%2011.51.30%20AM.png" target="_blank">Click to enlarge </a>
<img src="https://www.urban.com.au/images/2017/06/29/Screen%20Shot%202017-06-29%20at%2011.51.30%20AM.png" alt="">
With first home buyer participation declining as prices rise, it’s an easy connection to suggest that housing affordability is to blame for the low participation rate, but that is probably only part of the reason.  South Australia, for example, doesn’t have the same affordability challenges as New South Wales, yet first time buyers are the second lowest of any state at 12.2 percent and first time buyer activity in Victoria (16.6 percent) is more substantial than participation in Tasmania (15.2 percent) where housing is the most affordable of any state.
Availability of jobs is an important factor for first home buyers and this is likely to be one of the factors supporting first time buyer demand in Victoria, even though stamp duty rates (prior to July 1) are high and affordability measures are the second highest of any capital city outside of Sydney.   
Over the past five years 39 percent of the jobs created nationally have been in Victoria which is substantially higher than the long term average of 24 percent.
The two states where first time buyers are most active, at least on a proportional basis, are Western Australia, where first time buyers comprise 28.4 percent of owner occupier mortgage demand, and Queensland at 21.5 percent.  
First home buyers are higher than the long term average in Western Australia and Queensland first timers are close to the long term average participation rates.  Jobs growth has been mild across both states over the past five years, however housing prices have been tracking lower in Perth and increasing roughly in line with incomes in Brisbane.  
The dwelling price to income ratio in Brisbane is 5.9 and in Perth its 6.0; substantially lower than the larger capital cities.  
It’s likely that the healthier affordability of housing in these regions, despite the mild jobs growth, is a primary factor in supporting first time buyer demand.
Other factors come back to transaction costs, particularly the cost of stamp duty and deposit.  
There is a high likelihood that stamp duty exemptions for first home buyers, which go live on July 1st in Victoria and New South Wales will temporarily boost first time buyer numbers in the market.  
While the exemptions are likely to drive first home buyer demand, it’s likely that additional demand concentrated across the lower priced end of the market could simply push prices higher over the short to medium term. 
Tim Lawless is head of the CoreLogic research and analytics team and can be contacted <a href="https://www.corelogic.com.au" target="_blank">here</a>.
 
</body></html>

tlawless-5VLUrbAk9s

First home buyers at record lows

<html><body>
The majority of respondents to a survey believe they would tolerate a not-so-desirable property and suburb in order to become a homeowner.
According to a survey of 2,019 Australians by finder.com.au, 78 percent of those polled would happily do so.
An untrendy suburb (44 percent), evidence of the previous owner having a pet (42 percent), and a property that’s a deceased estate (41 percent) were also identified as features buyers would overlook. Some 45 percent of those surveyed would buy an  ‘unlucky’ house number, number thirteen. 
The survey asked respondents “If you were to buy a property in the current market, what would you put up with in order to get into the market?”.
<a href="https://www.propertyobserver.com.au/images/2017/06/13/Screen%20Shot%202017-06-13%20at%2010.06.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/13/Screen%20Shot%202017-06-13%20at%2010.06.35%20AM.png" alt="">
Bessie Hassan, Money Expert at finder.com.au, said things that may be viewed as undesirable are now being viewed in a new light as house prices continue to climb. 
“Wish-lists are going out the window, as buyers compromise to get their spot on the property ladder. Buyers need to be realistic and realise there’s no such thing as a ‘perfect’ property,” she said.
"One in four (25 percent) respondents admit they’d live within close proximity to a brothel, and one in five (20 percent) would put up with a property located near a noisy bar. 
“Buyers are less likely to accept an unsavoury smell or the presence of asbestos in the dwelling.
“If the area has a high crime rate or the street contains abandoned vehicles, these are also things buyers can’t overlook.
“Keep in mind that areas change over time, and gentrification and urban renewal can shift the appeal of a suburb, so you could be looking at the next hot suburb without realising it.
“Buyers should get a building and pest inspection to ensure the property is structurally sound, and to decide if any pre-existing faults can be affordably managed. 
“In some cases, the flaw may be well worth the discount."
<a href="https://www.propertyobserver.com.au/images/2017/06/13/Screen%20Shot%202017-06-13%20at%2010.06.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/06/13/Screen%20Shot%202017-06-13%20at%2010.06.42%20AM.png" alt="">
South Australians are the most desperate to get into the property market with 14 percent willing to put up with all of the listed turnoffs followed by NSW and WA at 9 percent, QLD at 8 percent and VIC at 7 percent. 
</body></html>

jonathanchancellor-7SQnKwU6yx

What buyers will and will not tolerate to crack into the market

<html><body>
The NSW Government has announced a number of changes to increase housing supply in the state, blaming the previous government for a shortfall of 100,000 Sydney homes.
In releasing reforms to the first home buyer grant system, the state government announced they will increase housing supply through fast tracking approvals for well-designed terraces, dual occupancies and town houses and a number of other measures to open up land.
According to the NSW Government, the plan will increase housing supply through:
<ul>
<li>
greater use of independent panels for some councils to ensure development applications are done e ciently and to ensure the integrity of the planning process; 
</li>
<li>
fast tracking approvals for well-designed terraces, dual occupancies and town houses through complying development; 
</li>
<li>
accelerating the development of Priority Precincts and Priority Growth Areas to deliver an additional 30,000 homes in carefully chosen areas; 
</li>
<li>
providing up to $2.5 million to individual councils to accelerate the development of new Local Environment Plans that open up new housing areas; 
</li>
<li>
ensuring housing supply is delivered through the establishment of a new ministerial taskforce on housing a ordability and a new Premier’s Priority headline goal of delivering an average of 61,000 housing completions a year over the next four years, with two supporting targets; 90 percent of approvals determined within 40 days by 2019 and state-led rezonings for 10,000 additional dwellings in appropriate areas per year on average to 2020-21.
</li>
</ul>
</body></html>

NSW Government moves to fast track residential approvals

<html><body>
Western Australia's new Labor government has cut the $5000 boost payment to first home buyers in a bid to save $20 million. 
State treasurer and finance Minister Ben Wyatt said on Wednesday the government would end the boost payment on 30 June, six months ahead of the December deadline set by the previous Coalition government.
It was introduced as an extra payment last December.
In December, the grant was increased by $5000 up from $10,000 and took effect from January 1,2017.
It was to remain in place for 12 months.
My Wyatt said the previous government’s pre-election decision to boost the grant to $15,000 was just an “election cash splash”.
First-home buyers buying a new home worth up to $750,000 after 30 June will still be eligible for the first-home owner grant of $10,000. 
"The boost is not an effective mechanism for stimulating additional construction of homes and given the disastrous state of the finances which we have inherited, we need to remove any ineffective spending," Mr Wyatt said.
</body></html>

j.ballantyne1990-6AQqhLzZaK

WA cuts first home owner boost

<html><body>
Changes to first home buyer grants and stamp duty concession as are set to go ahead in many states from 1 July, 2107.
In Victoria, stamp duty on any new or established property purchased up to $600,000 will be waived.
Regional Victoria will see the First Home Buyer Grant double for new homes sold up to the value of $750,000.
Concessions for stamp duty will be applied on a sliding scale for homes valued from between $600,000 and $750,000.
More information:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/6/album_photos_medium_28.jpg" alt="">
<a href="https://www.sro.vic.gov.au/first-home-owner">Victorian State Revenue Office</a>
New South Wales
First-time buyers of new homes in NSW have a full exemption from stamp duty up to $550,000 and concessions for new homes valued between $550,000 and $650,000.
From 1 January 2016, the NSW grant is now a $10,000 First Home Owner Grant for new homes purchased for up to $750,000.
More information:
<a href="https://www.osr.nsw.gov.au/grants/fhog" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/6/nsw.jpg" alt=""></a>
<a href="https://www.osr.nsw.gov.au/grants/fhog" target="_blank">NSW Office of State Revenue</a>
Queensland
QLD's $20,000 First Home Buyers Grant is a one off payment available until midnight on 30 June 2017 for people building or buying a new home in QLD. 
In July the grant reverts back to $15,000.
Stamp duty concessions are also available for first-time buyers; full exemption up to $500,000 and a sliding scale from between $500,000 and $549,000.
More information: 
<a href="https://firsthomeowners.initiatives.qld.gov.au/" target="_blank"><img src="https://www.urban.com.au/images/2017/04/6/qld.png" alt=""></a>
<a href="https://firsthomeowners.initiatives.qld.gov.au/" target="_blank">Queensland State Revenue Office</a>
Western Australia
A temporary $5,000 boost to the FHOG is available for eligible first home buyers who enter into a contract between 1 January and 31 December 2017 to purchase or construct a new home. 
Owner builders who commence laying foundations of their home between those dates, will receive a boost of $5,000 in addition to the $10,000 FHOG. .
First home owners may qualify for the grant and/or the first home owner rate of duty if they are either purchasing an established home or if they are building or purchasing a new home.
Western Australia also offers stamp duty concessions for first-time buyers on all properties; full exemption up to $430,000 and a sliding scale from between $431,000 and $530,000.
More information: 
<a href="https://www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/6/govOfWATextColour_283x268.jpg" alt=""></a>
<a href="https://www.finance.wa.gov.au/cms/State_Revenue/FHOG/First_Home_Owner_Grant.aspx" target="_blank">West Australian Government – Department of Finance</a>
SOUTH AUSTRALIA
Full stamp duty concessions are available on transfer of a new apartment or substantially refurbished apartment for a contract entered into from 31 May 2012 to 30 June 2014 (capped at stamp duty payable on a $500 000 apartment) and a partial concession from 1 July 2014 to 30 June 2017.
For contracts entered into between 20 June 2016 and 30 June 2017 (inclusive), the concession applies to purchases of off-the-plan apartments located anywhere in South Australia.
South Australia also offers stamp duty concessions for the purchase of off-the-plan apartments in specified areas.
More information: 
 
<a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners" target="_blank"><img src="https://www.urban.com.au/images/2017/04/6/sa.png" alt=""></a>
<a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners" target="_blank" style="font-size: 12.16px;"></a>
<a href="https://www.revenuesa.sa.gov.au/grants-and-concessions/first-home-owners" target="_blank">Revenue SA</a>
Tasmania
The First Home Owner Grant is a one-off payment for eligible first home buyers/builders. From 1 January 2016, the FHOG payment is set at $20,000 for eligible purchasers of new homes, homes off the plan and owner/builder homes. The payment drops to $10,000 for transactions entered into after 1 July 2017. 
More information: 
<a href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/Overview%20-%20First%20Home%20Buyers?OpenDocument&amp;menuitem=FHOG" target="_blank"><img src="https://www.urban.com.au/images/2017/04/6/tas-1.png" alt=""></a>
<a href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/Overview%20-%20First%20Home%20Buyers?OpenDocument&amp;menuitem=FHOG" target="_blank">Tasmanian State Revenue Office</a>
Northern Territory
The Territory Revenue Office can confirm that there are no plans to change or abolish the $26 000 first home owner grant currently available on the purchase or construction of a new home.
More information:
<a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/Pages/default.aspx" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/6/nt1.jpg" alt=""></a>
<a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/Pages/default.aspx" target="_blank">Northern Territory State Government</a>
ACT
The First Home Owner Grant will reduce to $7,000 on 1 January 2017.
The ACT also offers stamp duty concessions for first-time buyers buying new homes; full concession up to $455,000 and a sliding scale to $585,000. Gross income thresholds apply in the ACT.
A first home owner grant cap applies to eligible transactions.  The cap limits the total value of eligible properties (i.e. total value of home and land) to $750,000 or less.
More information: 
<a href="https://www.revenue.act.gov.au/home-buyer-assistance/first-home-owner-grant" target="_blank"><img src="https://www.urban.com.au/images/2017/04/6/ACT%20Logo.gif" alt=""></a>
 
<a href="https://www.revenue.act.gov.au/home-buyer-assistance/first-home-owner-grant" target="_blank">ACT Revenue Office</a>
 
</body></html>

Changes to first home buyer grants, stamp duty in effect come July

<html><body>
There’s plenty to like and lots to criticise in the housing measures announced by the State Government in Victoria.
Firstly, let’s be grateful for some progress on a difficult issue and acknowledge this factor: at last we have a state government willing to recognise that resolution of affordability issues lies within its own hands.
The standard political response to affordability problems is to point the finger of blame in other directions. All manner of culprits have been made scapegoats, including foreign buyers, Australian investors and migrants to Australians.
But the reality is that politicians lie at the heart of the problems. All three levels of government play significant roles in adding to the costs of building or buying dwellings – none more so than state governments.
So it’s refreshing to see Victoria taking some responsibility for this issue. It’s also heartening to see that Premier Daniel Andrews and his cohorts have recognised that simplistic solutions won’t make a difference. Rather, they have announced a multi-phased campaign to try to improve things.
Too much media time in the affordability debate has been wasted on people advocating single-pronged solutions, usually based on their own vested interests or on politically-motivated opinions that lack any substance or a basis in research.
The Victorian Government has announced a series of measures which address some, but certainly not all, of the factors wrapped up in the contentious issue.
It has taken steps in increase supply, both in Melbourne and in regional Victoria.
It has sought to encourage people out of the Melbourne market and into regional areas.
And it has addressed the stamp duty cost burden on first-home buyers, while also introducing a joint-purchase scheme to further assist first-timers.
There are plenty of issues it hasn’t addressed, especially the way in which government policies, taxes and charges had enormously to the cost of producing new homes.
That’s because it wants to make a difference without taking too much of a hit to the Budget bottom line. Like all state governments, it’s addicted to all that lovely revenue it rips out of the housing industry in taxes, fees and charges of various kinds.
So it’s found a way to slug investors while helping first-home buyers, so that it recoups from the former some of the revenue it loses by helping the latter.
It’s introducing a tax on investor properties left vacant for six months of the year, equal to 1 percent of the property’s capital-improved value. The idea is to force to owners to sell them or rent them out, thereby adding to the supply of homes. This won’t apply, apparently, to holiday homes or homes owned by people who move overseas temporarily.
It’s claimed there are at least 24,000 homes sitting empty in Melbourne because their owners prefer to keep them vacant rather than put in tenants. There’s a fundamental issue here that needs to be debated, based on the individual’s right to make decisions about their assets. 
The Government is also increasing housing supply through plans for 17 new suburbs with 100,000 home sites around the Melbourne metropolitan area.
The Government is abolishing stamp duty for first-home buyers of properties up to $600,000, with stamp duty discounts for those between $600,000 and $750,000. It will pay for them by removing the stamp duty exemption for investors who buy off-the-plan apartments.
It’s also increasing grants for first-home buyers in regional Victoria (new homes only) from $10,000 to $20,000. There aren’t too many rural locations with pressing affordability issues so this, it seems, is more about encouraging people to move to regional centres, thereby easing demand-supply pressures in Melbourne.
There’s also a new plan called HomesVic, whereby the government will co-purchase homes jointly with first-home buyers.
Many people would applaud those measures or most of them. They’re designed to help first-time buyers in various ways while slugging people who buy homes as investments.
But it’s an approach that fails to recognise the part investors play in lifting housing supply, providing a necessary pool of homes for rent and creating wealth to provide for future retirement. 
It also ignores the most pressing issue of the affordability situation: the part state governments play in inflating the cost of new housing. This government is, essentially, giving with one hand and taking away with the other – it’s providing grants, stamp duty concessions and other assistance to first-time buyers of homes which are expensive in the first place because of governments imposts on the dwelling supply process. 
If they had the political will they could make new dwellings considerably cheaper - and then those grants and concessions wouldn’t be so necessary.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can  <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

Victoria slugs investors, helps first-home buyers: Terry Ryder

<html><body>
The Victorian government has come out with a package that encourages potential first home buyers to get into the market.
It has come up with a "HomesVic”, a pilot programme in which 400 people will get a chance to co-purchase a home with the government, which will take an equity share of up to 25 percent and get its money back (plus price growth) when the property is eventually sold. 
The programme is aimed at couples earning up to $95,000 a year and singles earning up to $75,000. 
The changes are likely to be welcomed given the growing number of people who are finding it more hard than ever to get into the housing market.
Treasurer Tim Pallas said that the changes are an "important step towards ensuring today's families and future generations will be able to afford somewhere to live".
The state government will also contribute $5 million to Buy Assist, a community-sector based shared equity scheme.
This is modelled, according to reports, on a scheme recommended to prime minister John Howard in 2003 but never adopted.
The $50 million pilot scheme, HomesVic, will target first home buyers who are able to meet regular mortgage repayments, but because of rising rental costs, haven’t been able to save a big enough deposit.
Under the scheme, to be introduced in January 2018, HomesVic will co-purchase up to 400 homes, taking an equity share of up to 25 percent in these properties.
It will be available for both new and existing homes.
By allowing homebuyers to purchase less than 100 percent of the property, they will require a smaller deposit and are able to enter the market sooner. 
Eligible applicants will include couples earning up to $95,000, and singles earning up to $75,000.  
Buyers will need to have a 5 percent deposit.
The pilot will be tested across the state, and when the properties are sold, HomesVic will recover its share of the equity.
To further improve buyers’ chances of owning their own home, the Labor Government will also contribute $5 million to a national, community sector, shared equity scheme, Buy Assist.
With similar goals to HomesVic, Buy Assist will help deliver an additional 100 shared equity homes and help low to medium income households get a foothold in the property market.
The Government is also set to give first home buyers priority in government-led urban renewal developments, with at least 10 percent of all properties allocated to first time buyers.
This approach will be used for the first time at the Arden development.
The plan to develop the 56 hectare site Arden, (pictured above) announced by the Labor Government last year, could be home to around 15,000 people. Under this policy 1,500 of those could be first home buyers.
The Government will also consult with first home buyers, industry and the community about the design and implementation of measures to support first home buyers in private developments, especially those close to jobs and transport.
Artist’s impression of Arden central above.
</body></html>

Victoria government to co-own with first time home buyers in pilot project

<html><body>
The Andrews government will double the first home owner grant to $20,000 from July 1 for buyers in regional Victoria, as it tries to battle the affordability crisis.
The FHB grant was $10,000 since July 2013. 
The government said the move would help about 6,000 first-home buyers. The grant is only for new homes, not established properties.
Treasurer Tim Pallas was cited by media reports as saying doubling of the grant would increase the appeal of living outside of Melbourne for young families.
Last month, the Andrews government said it was investing $16.4 million to accelerate planning and approval processes to ensure the supply of new housing in Victoria more than meets the annual demand.
Pallas had said that Victoria was taking the lead on improving housing affordability and would extend its Streamlining for Growth Program for three more years to reduce red tape and encourage housing development in key areas.
The state government also offers first-home buyers a 50% duty concession when they buy a new or established home for properties below $600,000 and where the settlement date is on or after July 1, 2011, according to the state revenue office.
But media reports cited the Opposition criticising the move because it is only going to push up property prices and not increase affordability.
"Property developers across regional Victoria will be rubbing their hands together. This is a terrific outcome for them," Shadow Treasurer Michael O'Brien said.
"Unfortunately it's not going to make property more affordable for first-home buyers because prices will simply increase."
</body></html>

First home buyer grant doubled to $20,000 for buyers in regional Victoria 

<html><body>
The Real Estate Institute of Queensland said it was disappointed by the State Treasurer’s announcement that the government would not broaden the first home buyer grant to include established homes. 
Queensland Treasurer Curtis Pitt was under pressure from the real estate industry to widen the scope of the $20,000 first home owner grant to established homes, but has ruled out any changes, the Courier Mail reported earlier.
In response, REIQ CEO Antonia Mercorella said the government was not listening to the needs of regional Queenslanders. 
“Our concern is for the long-term impact and the bigger picture in regional Queensland, where new construction is exacerbating the oversupply issues that these markets are facing,” she said. 
“House values are falling, with some markets as much as 30 per cent below levels five years ago. Continuously adding supply of housing to oversupplied markets is irresponsible and will slow down any future recovery.
“The Treasurer wants us to believe the only way to economic stability is through residential housing construction, but that’s simply not true.
She said real estate is one of the state’s largest employers, with some 50,000 people employed in the sector, which provides the government with the single largest source of revenue through stamp duty and associated taxes. 
“Regional Queensland is facing unique challenges and the government must tailor its response to those challenges. 
She cited a recent CoreLogic report into affordability that said regional Queensland’s housing affordability was nearing similar levels to Melbourne. Wages are flat or are going backwards, the cost of living is higher and it’s harder to save for a deposit. Bankruptcies in regional Queensland are rising, with more than 80 reported last quarter in Mackay alone, she added.
“First home buyers in regional Queensland need more help than their southeast Queensland counterparts – and letting them use the grant to buy an established home would be a good start.  And it would help the real estate sector in regional Queensland stabilise. It would help slow or stop the fall of median values and it would help first home buyers get a foot on the ladder,” she said.  
“The government should offer first-home buyers the choice between new builds or established homes. Bring buyers to the market where there is ample supply – don’t keep adding to the supply. 
“Real estate has long been this state’s golden goose, but this government is in danger of killing off the goose. 
“Twenty-five regional mayors have given us their full-throated support for broadening the grant to established homes and this state government simply isn’t listening.” 
But Treasurer Pitt has been quoted by the media as saying “the strategic purpose of our $20,000 initiative is as much about getting Queenslanders into the property market as it is getting Queensland tradies back on the tools”. 
He said the building and construction sector creates jobs, stimulates the wider economy and keeps locals employed in the construction sector. 
</body></html>

REIQ says Queensland government needs to expand FHB grant to established homes

<html><body>
As of 1 January 2017, the West Australian government’s FHOG was increased by $5000 to $15,000 for eligible buyers.
First-time home owners buying or building a new home may apply for a grant of up to $10,000.
Contracts signed between 1 January 2017 and 31 December 2017 may be eligible for an additional boost payment of $5,000.
Buyers can receive up to $15,000 towards your first home, without having to pay stamp duty.
The FHOG only applies to new residential dwellings – not established homes.
For more information about the FHOG and your eligibility, download the <a href="https://www.finance.wa.gov.au/cms/uploadedFiles/_State_Revenue/FHOG/FHOG_Fact_Sheet.pdf" target="_blank">FHOG fact sheet</a>.
For a contract to build a home, construction must commence within 26 weeks of entering the building contract and be completed within 18 months after construction commences.
For owner-builders, construction must be completed by 30 June 2019.
The purchase of a new home ‘off-the-plan’ will be eligible if construction is completed by 30 June 2019.
As with the old grant, the boost will be paid for homes up to the value of $750,000 (or up to $1 million if the home is located north of the 26th parallel).
The <a href="https://www.housing.wa.gov.au/housingoptions/homeownershipoptions/KeyStart/Pages/default.aspxhttp:/www.keystart.com.au/" target="_blank">Keystart</a>, WA government initiative also provides first-time Western Australian investors.
</body></html>

First Home Buyer

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

First Home Buyer

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News