When Antoinette Chan and her architect husband, Peter began casually searching for an investment property, they weren’t expecting it to evolve into a life-changing family decision.

But one visit to the display suite of <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>’s <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-1-11-rodborough-avenue-crows-nest-nsw-2065">KOYO</a> development in Crows Nest changed everything, and sparked a remarkable story of three generations choosing to live side by side in one of the suburb's most architecturally-striking new developments.

Antoinette, her mother Janet Khoo, and her sister, who is currently living in Singapore, each purchased an apartment in the same building, creating a rare and meaningful multi-generational living arrangement underpinned by modern design, community values, and premium convenience.

[smartcode_project:default project_id=108800 project_image_fid=356083]

“It wasn’t planned,” says Antoinette, who purchased a three-bedroom garden apartment with her husband and teenage daughter. “Peter came across KOYO and encouraged me to visit because he had a lot of respect for Abadeen’s previous work. As soon as we saw it, we knew it wasn’t just an investment, this was a home.”

Shortly after, Antoinette suggested her mother, Janet Khoo, take a look at the same development. A long-time inner-city resident who had recently sold her property in The Rocks, Janet had experienced some health setbacks and was contemplating a move closer to her daughter.

“I walked into the display apartment, and it just felt right,” says Janet. “I didn’t look anywhere else. The space, the simplicity of the design, the light, everything gave me a sense of peace. It’s a new beginning, but it also feels like home.”

[smartcode_project:default project_id=108800 project_image_fid=356093]

In a stroke of serendipity, Janet selected the two-bedroom apartment next door to her daughter, completely unaware of Antoinette’s purchase. Around the same time, Antoinette’s sister, who resides in Singapore, viewed the property via a virtual tour and chose to buy the apartment directly above Janet’s.

“We were all drawn to KOYO individually, and it just happened that our homes ended up vertically stacked, ground, first, and second floor,” Antoinette laughs. “It was a coincidence, but also a sign. This is where we’re meant to be.”

Designed by celebrated architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, KOYO delivered on all fronts for the Chan-Khoo family.

“Our garden apartment gives us the feel of a standalone home but with none of the maintenance,” says Antoinette. “All three bedrooms open onto a generous private garden, which is perfect for our dog Archie, and for entertaining. The open-plan layout and high ceilings make it feel airy, calm and luxurious.”

[smartcode_project:default project_id=108800 project_image_fid=356092]

For Janet, security and accessibility were top priorities, and KOYO offered the ideal balance.

“At my age, I didn’t want to be climbing stairs,” she explains. “The first-floor apartment opens directly to the garden, and the building is small, which gives it a more personal, village-like feel. Yet I’m just steps away from my daughter and granddaughter. That gives me so much peace of mind.”

The family also appreciated the thoughtful amenities that avoided the excesses of some larger developments.

“We didn’t want a complex with too many facilities we wouldn’t use,” explains Antoinette. “KOYO has everything we need, generous storage, secure parking, beautifully landscaped walkways, and a stunning rooftop terrace with BBQ facilities that feels serene rather than busy.”

[smartcode_project:default project_id=108800 project_image_fid=355428]

The location was another critical factor in the family’s decision. Though they had always lived closer to Sydney’s eastern suburbs, Antoinette says the transformation of Crows Nest was a revelation.

“When we returned from living overseas, we discovered Crows Nest had become this vibrant, walkable hub,” she says. “We love being able to stroll to cafés, restaurants, and shops on Willoughby Road. The new Metro makes the commute into the CBD effortless, and our daughter can walk to her school, it’s just next door."

Janet agree. “I was worried about giving up my inner-city lifestyle, but I’ve fallen in love with this area. It has everything I need, supermarkets, quiet streets, friendly faces, and it’s all a short walk away. I feel safe, independent, and connected.”

[smartcode_project:default project_id=108800 project_image_fid=356085]

While design and location were important, the family also credits their decision to Abadeen’s reputation and responsiveness. With decades of experience delivering high-quality residential projects, Abadeen’s track record helped build trust during a volatile market period.

“The waiting game was tough, especially after selling my old apartment,” says Janet. “But the Abadeen team kept me updated every step of the way. They were professional, courteous, and transparent.”

Antoinette said Peter works in property and had already heard of Abadeen. "The quality of their work really impressed us, and as the project neared completion, they went above and beyond to keep us informed and supported. That level of communication is rare.”

Only a handful of three-bedroom residences remain for sale, priced from $3.5 million.

[smartcode_project_cta:default project_id=108800]

Joel Robinson

Three generations, one address: How a family found sanctuary and connection at Abadeen's KOYO in Crows Nest

Sydney-based developer Gold Partners Australia is making its move on the Gold Coast, launching what is one of the most affordable towers to the booming Broadbeach market.

Its <a href="https://www.apartments.com.au/new-apartments/harmony-on-broadbeach-2797-gold-coast-highway-broadbeach-qld-4218">Harmony on Broadbeach</a> project, just 400m from the beach, has prices starting from $975,000 for its two-bedroom apartments that measure nearly 90 sqm internally.

[smartcode_project:default project_id=113098 project_image_fid=355607]

There will be 113 two- and three-bedroom apartments spread out across the 33-storey tower on the 1,201 sqm site that will front First Avenue. Gold Partners Australia, which has delivered several major projects in Sydney's Norwest and has an active pipeline with projects in Hornsby and Carlingford, secured the block vacant, and want to start preliminary site works early next year through their in-house construction capability.

DBI Architects designed the tower with a four-level podium which will have an open-air swimming pool, sun deck, outdoor lounges, alfresco dining spaces, and a gym with adjoining yoga lawn. A hospitality venue will anchor the building at street level.

[smartcode_project:default project_id=113098 project_image_fid=355611]

Olympus Property Group is selling Harmony on Broadbeach on behalf of Gold Partners Australia. Olympus Director Deanna Lockett says the project is resonating with everyone from locals, investors, those moving from interstate, and second home buyers from Brisbane.

"There's been nothing new come to the market in Broadbeach at this price point for nearly a year," Lockett recalls. "It hits the sweet spot of affordability, good sized apartments, in a great location."

Construction will commence in Q2 2026, and wrap up, all going well, by the end of 2028.

[smartcode_project_cta:default project_id=113098]

Harmony on Broadbeach launches to booming Gold Coast suburb

Display apartments play a crucial role in helping buyers imagine how a space will look and feel once complete.

At <a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a> in Melbourne, development giant Mirvac has partnered with furniture maker and retailer MCM House to create a fully furnished, full-scale prototype that showcases the proportions, finishes, and design intent of the project’s three-bedroom residences.

As an added incentive, purchasers of any two- or three-bedroom apartment can receive up to $50,000 worth of MCM House furniture, allowing them to curate their new home with the same craftsmanship, contemporary design, and aesthetic showcased in the display apartment.

<a data-entity-type="file" data-entity-uuid="ae2e947b-2d51-4288-88fa-a35638e3be0f" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.27.26%E2%80%AFAM_1.png?VersionId=T5uSwgtTFwd1m5EdQF1inB.tBDgxqbtZ" /></a>

Oversized sofas, solid timber dining tables, and relaxed, low-profile seating demonstrate how the space accommodates real furniture, helping buyers clearly visualise how their new apartment could look, complete with pieces that genuinely suit the scale and design of the home.

The styling is simple but deliberate, with materials that pick up on the apartment’s natural light and neutral tones, creating cohesion without crowding the space.

<a data-entity-type="file" data-entity-uuid="355f10d8-ee75-4546-a42e-4a54abcc806e" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="file" data-entity-uuid="3e0b920b-3f17-47f0-8885-f67697a5f842" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%201.17.07%E2%80%AFPM.png?VersionId=tPcmBls5kt_SLqE2ONXrxgk5SnC1xERs" /></a>

Mirvac is now welcoming buyers through the display at The Albertine. Quietly yet conveniently positioned just off St Kilda Road on Queens Road, the development has attracted strong interest from inner-Melbourne and Bayside downsizers, professional couples seeking luxurious low-maintenance living, and design-focused buyers who want proximity to the CBD.

Apartments have been designed by Mirvac's inhouse design team with owner-occupiers at the forefront.&nbsp;The living and dining areas open directly onto a balcony, reinforcing the project’s emphasis on indoor-outdoor flow, while kitchens feature integrated appliances and soft-curve cabinetry which mirror the larger architectural themes at play throughout the building.

<a data-entity-type="file" data-entity-uuid="e8f9b371-17e1-4122-a615-074113096135" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.30.16%E2%80%AFAM.png?VersionId=NCYvtMavnE1_YDhX6slAr7g84MWP0Ymp" /></a>

The Albertine offers one to four-bedroom residences complemented by exclusive resident-only amenity, including The Circadian Club, a wellness centre with an indoor pool and spa, gym, yoga and Pilates studio, and sauna, as well as The Elysian Room, a private dining space on level 10 with sweeping views across Melbourne.

Mirvac will welcome residents to The Albertine in 2026, having recently celebrated topping out the&nbsp;

<a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>&nbsp;recently topped out&nbsp; the topping out of The Albertine, with completion expected in 2026.

To find out more about the generous furniture offer with MCM House, enquire below.

[smartcode_project_cta:default project_id=138659]

Mirvac unveils The Albertine display, offering up to $50k in MCM House furniture

Since the pandemic hit Australia, there’s arguably not been a suburb anywhere in the country more popular than Palm Beach. Data from Apartments.com.au showed that from 2020 to 2021, enquiry spiked by 130 per cent, driven predominantly by local and interstate purchasers snapping up luxury beachfront apartments.

While enquiry levels returned to early (though not pre-pandemic) levels in 2022, the appetite for living in the coastal enclave didn’t fade. The dip in enquiry was due simply to supply running out; every development was selling out in record time. Search traffic, one of the clearest indicators of buyer interest that reflects demand beyond available supply, remained as high as when enquiries peaked.

Developers responded quickly. They were snapping up sites left, right, and centre, racing to bring projects to market to meet the ongoing demand. Many of those who benefited from the COVID-induced boom are now back in the suburb again.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is one such developer. Having perfectly timed its entry into the Palm Beach market, Sherpa launched Perspective Two Sea and Perspective 488 at the height of the boom. Perspective 488 sold out in three months, impressive in itself, before the developer went on to sell out Perspective Two Sea, just nine full-floor apartments, in a matter of weeks, with prices ranging between $3.5 million and $4.75 million.

Sherpa has since completed Perspective Nexus, which sold out prior to its recent construction completion, and has just commenced work on <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Amargo</a> on Sixth Avenue, the first project under its new Flourish brand, designed to offer more price-accessible apartments. Already, 85 per cent of Amargo’s apartments have sold, starting from under $600,000, and Sherpa has secured three more sites in the suburb for future projects.

[smartcode_project:default project_id=146527 project_image_fid=306037]

<a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a>, led by Josh Foote, followed a similar trajectory. Foote delivered Periscope in 2019, then rode the post-COVID boom, selling out Cabana Palm Beach, 30 apartments, in just eight weeks. It was one of the fastest-selling projects on the Gold Coast at the time, with prices ranging from $1.775 million to over $5.5 million.

Foote has now re-entered the Palm Beach market with <a href="https://www.apartments.com.au/new-apartments/retreat-palm-beach-188-jefferson-lane-palm-beach-qld-4221">Retreat Palm Beach</a>, a 56-apartment development on Jefferson Lane, featuring two- and three-bedroom residences, most with butler’s pantries, private outdoor spaces, and curated interior finishes. Prices range from $1.35 million to $3.95 million. Ignite will soon commence construction, having recently brought building capability in-house.

[smartcode_project:default project_id=134965 project_image_fid=1851]

Foote says Palm Beach has transformed dramatically in the last six years. “The buildings we knocked down for Periscope had needles and all sorts falling out of the walls. The units themselves literally had junkies and prostitutes living in them,” Foote recalls. “In many ways, the development in Palm Beach has obviously done the suburb a huge benefit. I feel the planning department could be a little loose now though, and there will be regrets later as it changes so rapidly.”

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[smartcode_project:default project_id=134965 project_image_fid=1845]

It’s been a little longer between projects for Brisbane-based <a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a>, which completed Sable Palm Beach in 2019, shortly before the COVID boom. The developer is now returning with plans for a 14-storey tower featuring 68 apartments and three double-storey townhouses facing Jefferson Lane.

BPG Director Glen Williams, who runs the company alongside Nick Parr, says the duo only develop in locations they love. “I’ve been a part of the Currumbin Surf Club for the last two decades,” Williams says. “We love the southern end of the Gold Coast and are looking forward to bringing more apartments to the area.”

The appeal of Palm Beach has also drawn interstate developers. Sydney-based <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> selected the suburb for its Gold Coast debut, securing a site on Mawarra Street near Palm Beach State High School. The developer is nearing completion of <a href="https://www.apartments.com.au/new-apartments/villea-palm-beach-26-mawarra-street-palm-beach-qld-4221">Villea</a>, a 69-apartment project that will sit above an activated ground plane. Abadeen Founder and Chairman Justin Brown says Palm Beach was a natural choice.

“We recognised an opportunity to introduce our prestigious brand into a location that is absolutely thrumming with demand for high-end living,” Brown says. “Palm Beach is widely regarded as the embodiment of coastal idyll and one of the Gold Coast’s premium lifestyle locations, and we intend to honour that with a collection of contemporary residences that accentuate the area’s appeal.”

[smartcode_project:default project_id=106840 project_image_fid=336441]

Also nearing completion is <a href="https://www.apartments.com.au/new-apartments/elevaire-palm-beach-1409-1411-gold-coast-highway-palm-beach-qld-4221">Elevaire</a>, a 40-apartment project at the northern end of Palm Beach on the Gold Coast Highway. The building includes hot and cold magnesium plunge pools, with remaining apartments starting from just under $1.4 million.

SRQ Projects Director Nicholas Clydsdale, who is marketing both Villea and Elevaire, says Palm Beach continues to top the list for buyers for a number of reasons. “It’s the most accessible beachfront suburb on the southern Gold Coast,” Clydsdale says. “It’s also got the most beautiful beach, bookended by two of Queensland’s most stunning headlands — Currumbin and Burleigh.”

[smartcode_project:default project_id=112941 project_image_fid=216015]

Also joining the Palm Beach boom are Gold Coast locals Tim Gordon and Bruce Mathieson, the duo behind the ultra-luxury Mantaray Residences and Marina at Main Beach’s The Spit. Their project, Elle on Jefferson, designed by Cottee Parker, comprises 58 apartments and a suite of wellness amenities, including a 15-metre lap pool, hot and cold plunge pools, private cabanas, a sauna, steam rooms, and a holistic gym offering cardio, weights, yoga, and Pilates.

[smartcode_project:default project_id=147111 project_image_fid=356658]

Having developed Lyra Hope Island, Sydney and Gold Coast developer Changfa found an affordable pocket for their recently launched new development Corallo, where one-bed apartments start from just $845,000.

The $200 million mixed-use project on the corner of the Gold Coast Highway and Palm Beach Avenue includes ground floor dining and retail and is considered so valuable its developer,&nbsp;<a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=805]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>&nbsp;International, Director, David Higgins, said the development’s location, just metres from the beach,&nbsp;influenced the sculptural design by the acclaimed&nbsp;<a href="https://www.apartments.com.au/architects/plus-architecture" target="">Plus Architecture</a>&nbsp;studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>&nbsp;locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

[smartcode_project:default project_id=112194 project_image_fid=799]

“The orientation of the apartments captures views of the coastline from&nbsp;<a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217" target="">Surfers Paradise</a>&nbsp;to&nbsp;<a href="https://www.apartments.com.au/developments/currumbin-qld-4223" target="">Currumbin</a>, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

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No slowing down Palm Beach as new apartment market takes centre stage, again

Plans have been revealed for the third and final stage of <a href="https://www.apartments.com.au/developers/billbergia">Billbergia</a>’s $3 billion Rhodes Central masterplan, bringing the iconic new town centre closer to completion.&nbsp;

The final tower, <a href="https://www.apartments.com.au/new-apartments/cascade-23-25-marquet-street-rhodes-nsw-2138">Cascade</a>, at&nbsp;23-25 Marquet Street in Sydney’s inner west, will comprise 361 new dwellings, a mix of critically needed affordable housing and multi-generational apartments.&nbsp;

Vibrant retail, interactive public space, an upscale food and beverage offering and an alfresco dining plaza will also be delivered alongside Cascade tower as part of the final stage, which comes off the back of&nbsp;the masterplan’s successful first two stages.&nbsp;

Stage one saw 568 apartments delivered along with the national award-winning Rhodes Central shopping centre, while stage two has delivered a further 673 apartments atop the $85 million Rhodes Recreation Centre.&nbsp;

Officially opened in November 2025 by Mayor Michael Megna, the Recreation Centre was delivered under a Voluntary Planning Agreement with City of Canada Bay Council. It features essential community facilities including a gym, early childhood learning centre, indoor sports courts, and a gymnastics area as well as commercial tenancies and amenities.

Once complete, the five-tower Rhodes Central masterplan will deliver a combined total of over 1,600 new homes for about 3,500 people, along with community infrastructure, retail, dining, and an expansive new public domain and plaza along Marquet Street. A new basement and podium rooftop will connect all five buildings and allow residents to share amenities.

<img alt="$3 billion Rhodes Town Centre vision comes to life with final stage" data-entity-type="file" data-entity-uuid="973ae3a2-58e6-4994-8965-ed9332a57e8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Masterplanaerialimage.jpg?VersionId=Mj.mjUQyfh334xG71LQr7wCFu3mmDxnj" />

“We’re now a step closer to realising our vision for Rhodes Central,"&nbsp;said Saul Moran, Development Director – Planning and Design at Billbergia..

"With brand new retail and more public open space, this final stage embodies our commitment to creating connected communities and delivering housing diversity amid Sydney’s housing crisis. It also completes the landmark town centre precinct that has been almost 20 years in the making."

The project sets a benchmark for Transport Orientated Development. It brings life to Billbergia’s vision for a future-focused, liveable urban environment that prioritises amenity, not just density. &nbsp;Overall, it will deliver more than 25,000 sqm in publicly accessible amenity, including Rhodes Central Shopping Centre, Rhodes Recreation Centre, commercial office space and a further 1,200 square metres of retail space in stage three.

“Rhodes has evolved over two decades from a former industrial site into a connected, thriving community," said John Pradel, Partner and Master Plan Lead at SJB.

"Each stage has built on the last, adding not just housing, but the civic and social spaces that make a place truly liveable and allow the community to flourish."

<img alt="$3 billion Rhodes Town Centre vision comes to life with final stage" data-entity-type="file" data-entity-uuid="7e96de93-e50a-424f-9de8-7b3d9c2c0f12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BLBG0900_RCSGIII_R02%20Retail%20Laneway%20copy.jpg?VersionId=3TksNisT5iwyBCGhGUvHDtR9aIca9_OQ" />

Ideally positioned adjacent to the 13,000 sqm Rhodes Central shopping centre, stage three will boast an additional 10 per cent of retail space, an upmarket restaurant offering, an open-air dining plaza and an expansive 2,000-square-metre addition to the public domain extending into the retail forecourt.&nbsp;

This new realm will enhance pedestrian connectivity while showcasing an interactive water feature and engaging public art. It has been designed as an active community space and will also feature pop-up civic infrastructure, including a community stage and kiosk for placemaking events.

The residential tower Cascade will comprise 361 apartments over 39-levels, including 72 affordable dwellings. Apartments will be available in a range of floorplans from one to four-bedroom configurations, with a luxe two-storey “skyhouse” spanning the top two levels. Communal viewing decks and gardens with BBQ facilities will crown Cascade’s rooftop, offering expansive views of the Blue Mountains to the West and Brays Bay and Sydney CBD to the East.&nbsp;

<img alt="$3 billion Rhodes Town Centre vision comes to life with final stage" data-entity-type="file" data-entity-uuid="814da600-5368-49d3-8fec-025521a4d0e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/BLBG0900_RCSGIII_IN01%20Apt%2037.04%20Livingy%20copy.jpg?VersionId=.xA6cpRQLx4kJiQayt3OrydVQ9ReGmXP" />

High-profile architecture firm <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> will design the final stage after winning a design excellence competition in collaboration with Land and Form in September 2024. The Rhodes Central masterplan was originally conceived by SJB in 2005, with the firm subsequently delivering the design for Stages One and Two.&nbsp;

Cascade has a striking design with a slender tower grounded by a four-storey podium. The tower is divided into three forms, with a distinctive silhouette that resembles three fingers. The design optimises amenity and privacy while maximising views towards both Sydney CBD and Homebush Bay.&nbsp;

According to SJB, the project’s design aims to deliver a range of dwelling types, including multi-generational floorplans, catering to emerging needs of the growing population.

Emily Wombwell, Director and Design Lead at SJB, said their concept encompasses a broader site vision that integrates this site with Rhodes Town Centre through a new iconic building and generous public domain.

"Cascade’s design offers a variety of living typologies that cater to a diverse range of existing and emerging demographics. The proposal aims to improve social and environmental connections by creating a safe and welcoming landscape for existing and future communities of Rhodes."

Billbergia has filed a&nbsp;State Significant Development Application (SSDA) for the final stage. Demolition has been completed on site, early works including excavation will begin early 2026, with completion estimated in 2030.

[smartcode_project_cta:default project_id=135080]

Billbergia unveils new Cascade apartment tower with final stage of $3 billion Rhodes Town Centre

Stamp Duty

In a significant policy move aimed at stimulating the property market, the Victorian government has announced a major reduction in stamp duty for off-the-plan apartments, units, and townhouses.

Effective from October 21, 2024, the expanded concessions will apply to all eligible off-the-plan purchases and will remain in place for one year.

This initiative, designed to address the state’s housing affordability crisis, opens a window of opportunity for prospective buyers, particularly investors and owner-occupiers, to secure substantial stamp duty savings.

Key Changes to Stamp Duty Concessions

Previously, stamp duty on off-the-plan purchases was calculated based on the total price of the property, including the construction value. Under the new scheme, stamp duty will be calculated solely on the land value before construction begins. This shift in policy significantly reduces the financial burden for buyers, particularly in metropolitan areas where property prices continue to rise.

For example, a Victorian purchasing an off-the-plan apartment valued at $620,000, with the land component valued at $77,500, will now pay just $4,000 in stamp duty—down from $32,000. This $28,000 saving represents a significant reduction in upfront costs for property buyers, potentially unlocking the market for a wider demographic.

The changes also eliminate the previous cap on concessions, expanding eligibility beyond first-home buyers to include any purchaser of off-the-plan apartments, units, or townhouses within a strata subdivision.

<a data-entity-type="file" data-entity-uuid="69bb2163-758b-4133-85ae-a669cf3061bb" href="/developments/melbourne-vic"><img alt="Search New &amp; Off-the-Plan Property across Victoria" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-10-21%20at%208.49.26%20am.png?VersionId=tO1ATB0FSWLbOgFkHuqwpy6iUKclkflP" /></a>

Who Benefits from the Scheme

The new stamp duty concessions are aimed at boosting sales in Victoria’s off-the-plan sector, which has been slowing due to high taxes and market uncertainty. The scheme covers properties that are part of a strata subdivision. However, it excludes house and land packages or dwellings not part of a strata subdivision.

Existing concessions for first home buyers remain unchanged. Homes valued up to $600,000 will continue to benefit from full stamp duty exemptions, and concessions apply to properties valued up to $750,000.

A Limited-Time Opportunity for Buyers

The stamp duty concession is a time-sensitive initiative, with the expanded benefits available only until October 21, 2025. Buyers who are considering entering the market are urged to act promptly to take advantage of the scheme, as the concession will revert to its previous structure after this period.

For developments currently under construction, buyers are also eligible for reduced stamp duty, although the exact savings will depend on how much of the construction has been completed at the time of purchase.

Impact on the Market

The Victorian property industry has long advocated for a reduction in stamp duty, arguing that the high upfront cost has acted as a deterrent for both buyers and developers. By lowering these barriers, the government aims to revitalise the market, particularly in Melbourne, where apartment supply has struggled to keep pace with demand.

The concessions are expected to have a positive ripple effect on the rental market as well, as more off-the-plan properties come online. Developers will benefit from increased pre-sale success, helping them to meet financing requirements and commence construction sooner.

What Buyers Need to Know

For those interested in purchasing an off-the-plan property, the expanded stamp duty concessions represent a rare financial advantage. The Victorian government's removal of the concession cap makes this offer more widely available than previous schemes, opening the door for both investors and owner-occupiers to secure valuable savings.

Apartments.com.au will continue to provide updates on off-the-plan developments and related policy changes. Buyers interested in learning more about the stamp duty reduction can explore our latest listings or contact us for further insights into how this change could benefit them.

Summary of Eligibility:

<ul>
	<li>Applies to off-the-plan apartments, units, and townhouses within a strata subdivision.</li>
	<li>Stamp duty calculated based on land value, not total property price.</li>
	<li>Available for one year, ending October 21, 2025.</li>
	<li>No cap on eligibility; open to all buyers, not just first-home purchasers.</li>
	<li>With the Victorian government’s stamp duty concession, now is an ideal time for property buyers to enter the market while this limited offer remains available.</li>
</ul>

Victorian government's stamp duty cuts on off-the-plan apartments, units, and townhouses offer significant savings for property buyers. Learn more about eligibility, how to benefit, and why now is the prime time to buy with these expanded concessions.

Michael Bird

VIC Government slashes stamp duty for off-the-plan property buyers - savings available immediately, Oct 2024

As of January 16, property buyers in New South Wales who are seeking to spend under $1.5 million on their first home, can now opt to pay an annual land tax as opposed to the upfront cost of stamp duty.

The First Home Buyer Choice scheme, will also apply to those who&nbsp;signed a contract of purchase between 11 November 2022 and 15 January 2023. For this group, applications to choose the property tax can be made at any time between 16 January 2023 and 30 June 2023.

If settlement occurs on or before 15 January 2023, they will need to pay stamp duty, and then will be able to apply for a refund of the stamp duty from 16 January 2023.

[smartcode_project:default project_id=29359 project_image_fid=207473]

If settlement occurs on or after 16 January 2023, and they have chosen property tax, they will not need to pay stamp duty.

For those who are purchasing land with the intention to build their first home, the price cap will be up to $800,000.

The aim of the scheme is to remove a significant barrier impacting first home buyers entering the property market.

Analysis by Canstar showed that the&nbsp;number of owner-occupier first home buyer loans is over 31.3 per cent down over the 12 months to November, after numbers retreated a further 5.5 per cent over the month.

For a $1.5 million purchase in New South Wales, buyers would be expected to pay $67,000 in stamp duty, which is in addition to a minimum 10 per cent deposit, a total of over $210,000 upfront with both costs before taking ownership of the property.

Annual property tax payments are based on the land value of the purchased property. The property tax rates for 2022-2023 and 2023-2024 will be $400,&nbsp;plus an additional cost of 0.3 per cent of land value.

[smartcode_project:default project_id=112005 project_image_fid=191253]

Premier Dominic Perrottet said this choice will empower first home buyers as they head out to auctions and inspections over the weekend.

“Starting today, first home buyers will get a huge boost with a system that helps rather than hinders their journey to owning their first home,” Perrottet said.

“The opportunity starts now, with buyers able to choose the option that will suit their own financial circumstances and see them come out ahead in the long run.”

Treasurer Matt Kean said more than 6,000 first home buyers are estimated to choose the annual property fee each year.

[smartcode_project:default project_id=6552 project_image_fid=202005]

“This is about giving home hunters the chance to decide what works best for them. It will give people greater flexibility as they approach one of the biggest investment decisions most will make in their lifetime,” Kean said.

“Home ownership builds economic security, financial independence, personal freedom and offers people a stake in our nation. This reform will bring thousands of people closer to that dream, sooner.”

The First Home Buyer Choice is a key component of the Government’s $2.8 billion Housing Package announced in the 2022-23 NSW Budget.

For more information visit the NSW Government website <a href="https://www.service.nsw.gov.au/services/housing-and-property/land-tax-property-tax-and-stamp-duty">here</a>.&nbsp;

Analysis by Canstar showed that the number of owner-occupier first home buyer loans is over 31.3 per cent down over the 12 months to November


Changes to NSW stamp duty explained: What it means for first home buyers

Removing stamp duty would increase housing mobility, and lead to more efficient use of the nation’s housing stock, according to research by the National Housing Finance and Investment Corporation (NHFIC).

Families across all states and territories, except the ACT, are paying substantially more stamp duty when they move currently than they were 20 years ago, it noted.

Victoria now has Australia’s largest effective rate of transfer duty on a median property at around 5.4% (around $45,000), compared to 4.2% (around $12,000) back in 2002.

The report dubbed stamp duty an inefficient tax that impacts housing market mobility.

A household that bought a Sydney median priced house four times over the past 20 years would have paid more than 10 times the amount of duty than a household making only one purchase at the start of this period, it pointed out.

“Households that are considering downsizing and upsizing, or just seeking more space when they are working at home during COVID-19 wouldn't be penalised under a broad-based land tax compared with the current stamp duty arrangements across most states,” NHFIC CEO Nathan Dal Bon said .

“Encouraging more household mobility through reductions in stamp duty leads to more efficient use of the housing stock which means people can better ‘right-size’ their own housing arrangements in line with their individual preferences,” Dal Bon added.

The aim of transitioning from stamp duty to land tax is not to increase revenue per se, and the paper demonstrates that the transition can be achieved in a revenue neutral way.

"The typical household across all states (except the ACT) would be better off paying land tax on a median property than transfer duty," it suggested, noting a household in NSW would have to pay a broad-based land tax for more than 14 years to be worse off, which is greater than the 12 year average holding period of a property.

It noted the challenge of a revenue neutral swap between transfer duty and a broad-based land tax, under a slow house price growth scenario, would require approximately three times the amount of revenue as a faster transition ($94bn over a 20-year transition, compared with $32bn under a 5-year transition).

The National Housing Finance and Investment Corporation (NHFIC) commenced operations in 2018,  a corporate Commonwealth entity, part of the Treasury portfolio of agencies. 

The responsible Minister is the Minister for Housing, Michael Sukkar.


Removing stamp duty will have the benefit of reducing barriers to home ownership, according to the report of the National Housing Finance and Investment Corporation

jchancellor-FAypfDUnLy

Federal Treasury entity gets behind push to scrap state government stamp duty

The ACT Government has scrapped stamp duty for off-the-plan apartments and townhouses up to $500,000.

The stamp duty abolition will apply to any buyer &ndash; first-home buyers, upgraders, downsizers and everyone else in between &ndash; who purchase off-the-plan, the territory government said.

Under these changes, anyone purchasing a newly built apartment or townhouse valued at $500,000 will save $10,360 in stamp duty.

The welcomed phase-out of stamp duty is effective from 1 July 2021.

This is great news if you are looking for the perfect property to purchase and benefit from the new stamp duty reforms.

Urban takes a look at five off-the-plan properties in the ACT listed for under $500,000.

1. WOVA, Phillip 
Developer: Geocon Group 
Two-bedroom apartments from $475,900

[smartcode_project:default project_id=95099 project_image_fid=167553]

Situated in Canberra&rsquo;s Woden Valley, WOVA by Geocon Group is set to redefine contemporary community living.

The four-tower development boasts a collection of one, two and three-bedroom apartments with unrivalled transport connectivity and abundant amenity.

Designed by Fender Katsalidis and Oculus Urban Design, WOVA features spacious balconies, functional living areas and is located at the heart of a multi-billion dollar regeneration project.

2. Marlu, Denman Prospect 
Developer: Core Developments 
Two-bedroom apartments from $429,900

[smartcode_project:default project_id=29327 project_image_fid=84947]

Settled amongst Denman Prospect&rsquo;s finest homes, Marlu presents one, two and three-bedroom dwellings.

Designed by Stewart Architecture, the development visually fits into the surrounding context, with northern frontage overlooking Molonglo Valley and Black Mountain.

The space is equipped with an outdoor pool, gym, and communal entertaining area, as well as a central garden which provides amenity, solar aspect and privacy.

3. Nightfall, Belconnen 
Developer: Geocon Group 
Two-bedroom apartments from $484,900

[smartcode_project:default project_id=29898 project_image_fid=167586]

The final stage of Geocon&rsquo;s Republic Precinct, Nightfall, is due to reach completion at the end of this year.

The 21-storey tower boasts one and two-bedroom apartments with 30 different floorplans to meet the needs of a variety of buyers.

Designed by Fender Katsalidis, Nightfall includes a private sky garden, fully equipped kitchen, residents&rsquo; dining room and an established ground-floor plaza with retailers, supermarkets, caf&eacute;s and restaurants.

4. Dawn at Founders Lane, Braddon 
Developer: JW Land Development 
One-bedroom apartments from $415,000

[smartcode_project:default project_id=6542 project_image_fid=164004]

Dawn occupies one of the most coveted positions in Canberra, located at the boundary of Civic and Braddon.

Founders Lane is set to bring a fresh new wave of life to the city centre with open flowing space and a fresh look.

Each one and two-bedroom apartment boasts access to a central courtyard, a rooftop garden, an abundance of natural light and a sense of calm and wellbeing.

5. The Brooke, Bruce 
Developer: AVANTUS 
Two-bedroom apartments from $455,000

[smartcode_project:default project_id=88669 project_image_fid=144662]

The Brooke includes 99 beautifully thought-out apartments in one and two-bedroom configurations.

Inspired to optimise the best of Canberra, the development is nestled between Belconnen and the City and boasts convenient access to medical, educational, sporting, retail, and commercial precincts.

Designed by JUDD.studio, the homes include traditional and futuristic elements, spacious backyards and balconies and a contemporary colour palette.

This ACT Government's stamp duty reform is great news if you are looking for a new off-the-plan property to purchase in Canberra.

max.kwok_55688

 Five Canberra apartments under $500,000 that benefit from ACT’s new stamp duty reforms

The ACT government has scrapped stamp duty for off-the-plan apartment and townhouse purchases up to $500,000 from July 1.

The stamp duty abolition will apply to first-home buyers and other owner occupiers who exchange purchases for off-the-plan in the territory from July 1.

<a href="/developments/act">Buyers of newly built apartments or townhouses at $500,000 will save $10,360 in stamp duty.</a>

The eligibility criteria includes satisfaction of residency requirements, that at least one buyer must live in the home continuously for at least one year, starting within 12 months of the date of completion/settlement date.

Since 2012 the ACT has been reducing stamp duty.

&ldquo;This is a further step in our tax reform program and one that encourages an increased supply of housing below the $500,000 threshold,&quot; ACT Chief Minister Andrew Barr said.

The announcement is part of the territory&rsquo;s 20-year plan to phase out stamp duty and replace it with an annual land tax.

The plan has been underway since 2012.

Stamp duty has also beeen reduced by $1040 for any owner-occupier established property purchase between $200,000 to $1.455 million in 2021-22.

As part of the ACT tax reform program, average general rates have increased to offset revenue that would otherwise be lost due to the abolition of stamp duty.&nbsp;

This did not occur in 2020-21 as part of the Government&rsquo;s response to the COVID-19 pandemic.

The ACT government has scrapped stamp duty for off-the-plan apartment and townhouse purchases up to $500,000 from July 1

jchancellor

ACT stamp duty scrapped for owner occupier off the plan purchases up to $500,000

ASX-listed developer AVJennings is matching the government stamp duty concession on all Piper Townhomes for those who buy before the end of June.

Piper is a boutique collection of 14 modern, low-maintenance townhouses in the stunning bayside suburb of Williamstown.

[smartcode_project:default project_id=102256 project_image_fid=163752]

The development references Williamstown&rsquo;s well-known local personality Richard Piper, the postmaster&nbsp;of the Williamstown Post Office during the mid-nineteenth century.

&ldquo;With a rich maritime history, this picturesque suburb is situated within Hobson Bay and offers cafes, restaurants, supermarket, shops, swimming beaches and renowned boating clubs&rdquo;, the project marketing reads.

Residents can secure one of nine three-bedroom homes facing Nelson Place, an extension of the neighbouring Lonsdale and Lysander townhomes at Waterline Place.

[smartcode_project:default project_id=102256 project_image_fid=163757]

According to the developers, the vision for Waterline Place is to be &ldquo;a village within a village&rdquo;. It will be home to approximately 500 residences and feature a series of green, active and pedestrian-friendly streets and laneways.

Featuring bluestone and an angled roofline that pays homage to Williamstown&rsquo;s industrial past, the three-bedroom homes blend in with the established character of the area.

With full-height windows, clever storage solutions and a large living area that opens into a room-sized balcony, these larger residences are ideal for couples, young families and downsizers.

[smartcode_project:default project_id=102256 project_image_fid=163754]

The five two-bedroom, two-bathroom terraces fronting Waterline Place are designed for first time buyers or couples looking for intelligent layouts.

Delivering a compact design, the two-bedroom townhomes include a ground-floor study, living room, under-stair storage and a single-car garage.

Prices for the homes in the Piper collection start from $830,000 and reach up to $1,495,000 for a three-bedroom, 3.5-bathroom property.

[smartcode_project:default project_id=102256 project_image_fid=163752]

For residents who purchase the off-the-plan residence before 30th June, AVJennings will pay a rebate at settlement to the same value as the government concession.

The development is expected to reach completion in mid-2022.

About the developer

AVJennings is a leading residential property development company that has been part of the Australian landscape for more than 85 years.

With over 12,700 lots in its portfolio, the company has experience in home building, land development, pre-planned integrated housing and medium density activities.

Other projects by AVJennings include <a href="/developments/bethania-qld-4205">Parkside, a townhouse project in Queensland&rsquo;s Bethania</a>. 
[smartcode_project_cta: project_id=102256]

For residents who purchase the off-the-plan residence before 30th June, AVJennings will pay a rebate at settlement to the same value as the government concession

Pay $0 stamp duty on the brand-new Piper Townhomes in Williamstown

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<h2>What is Stamp Duty?</h2>

Stamp duty, or land transfer duty as it’s known in Victoria, is a once-off government tax on buying property payed by the purchaser. It is based on the purchase price and calculated via a scale, in a similar manner to income tax.

However, these standard rates don’t apply to all property purchases, particularly first home owners and foreign buyers.

Pictured below is a full tabulation of how transfer duty is calculated in Victoria.

<img alt="" height="246" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/stamp_duty_guide_vic.jpg" width="786">

<h2>Stamp duty on foreign purchasers</h2>

However, these rates don’t apply to all buyers or all types of property purchases. Foreign purchasers often have to pay additional duty of up to seven percent.

You can read more about the stamp duty provisions affecting foreign purchasers on the <a href="https://www.sro.vic.gov.au/foreignpurchaser" target="_blank">State Revenue Office website</a>.

<h2>Stamp Duty exemptions for first home buyers</h2>

The Victorian government’s current policy as of 2017 is the complete exemption of stamp duty for first home owners purchasing a property valued at up to $600,000. A saving of up to $31,070.for first home buyers.

For first home buyers purchasing a home valued between $600,001 and $750,000 a concessional rate of stamp duty applies.

Unlike the NSW First Home Owner Grants (FHOG), the stamp duty concession and exemption apply to all property types.

<h2>Other Stamp Duty exemptions and concession</h2>

Victoria also provides a concession to all purchasers of properties valued between $130,000 and $550,000 from paying stamp duty where they intend to use that property as their principal place of residence.

The rate of concession equates to a one percent reduction for all properties valued between $130,000 and $440,000 and a flat reduction of $3,100 for properties valued between $440,001 and $500,000.

There is also a “principal place of residence (off the plan concession)”, which only people purchasing an off the plan property they intend to use as their home are eligible and a threshold applies to the dutiable value of the property. This is $550,000 for non-first home buyers and $600,000 (for an exemption) $750,000 (for a concession) for first home buyers.

The Victorian government also provides a stamp duty exemption to pensioners buying a home valued at under $330,000 and a concessional rate to pensioners buying a home valued between $330,001 and $750,000.

Below are some properties eligible for stamp duty exemptions in Victoria:

1. Melbourne Quarter, Docklands 
Address: 628 Flinders Street, Docklands VIC 3008 
One-bedroom apartment from $458,000

[smartcode_project:default project_id=3459]

2. Live City, Footscray 
Address: 124-188 Ballarat Road, Footscray VIC 3011 
Two-bedroom apartments from $460,000

[smartcode_project:default project_id=3565]

3. Melbourne Grand, Melbourne 
Address: 556-558 Lonsdale Street, Melbourne VIC 3000 
One-bedroom apartments from $489,000

[smartcode_project:default project_id=3490]

 

Click here to view <a href="/news/vic/save-thousands-melbourne-apartments-you-can-buy-without-paying-stamp-duty" target="_blank">six homes in Melbourne you can purchase without paying stamp duty</a>.
</body></html>

Stamp duty, or land transfer duty as it’s known in Victoria, is a once-off government tax on buying property payed by the purchaser

jordan_55689

What is stamp duty? A guide to stamp duty in Victoria

<html><body>
More than ever as we emerge from the crisis we are going to have to get the most out of our economy.

Swapping stamp duty for land tax as the <a href="https://theconversation.com/abolish-stamp-duty-the-act-shows-the-rest-of-us-how-to-tax-property-105378">ACT government</a> is doing (over 20 years) and the <a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-11/NSW%20TSY%20TF%20-%20Glossy.pdf">NSW government</a> is planning (using an opt-in arrangement), is one of the best ways the tax system can help.

This graph from the federal treasury’s 2015 <a href="https://treasury.gov.au/sites/default/files/2019-03/c2015-rethink-dp-TWP_combined-online.pdf">tax discussion paper</a> makes the point.

It says the “marginal excess burden” (damage) done by real estate stamp duty amounts to 70 cents for each dollar raised.

It discourages people and businesses from changing addresses as often as they should, meaning workers live further away from their work than they would and are reluctant to move to where there is better work.

<figure class="align-center zoomable"><a href="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img alt="" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" src="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" srcset="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=397&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=397&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=397&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=498&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=498&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=498&amp;fit=crop&amp;dpr=3 2262w"></a>

<figcaption><a class="source" href="https://treasury.gov.au/sites/default/files/2019-03/c2015-rethink-dp-TWP_combined-online.pdf">Tax discussion paper, Australian Treasury March 2015</a></figcaption></figure>In contrast, treasury found the marginal excess burden of land tax was negative. Land tax makes sure land was used for its most useful purpose and not left idle.

Efficiency-wise it makes sense to swap one for the other, but as with all changes there will be winners and losers, some of them surprising.

In our <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3760893">just-published study</a>, we use real-world data on living arrangements from the Melbourne Institute’s <a href="https://melbourneinstitute.unimelb.edu.au/hilda">Household, Income and Labour Dynamics in Australia</a> survey and data on house prices and stamp duty rates from the Real Estate Institute Australia in an attempt to work out who the winners and losers will be.

<h2>Good for the young, and the old</h2>

We find that overall the swap should reduce the purchase price for home buyers, increase the sale price for sellers, increase the total number of transactions and reduce the degree of mismatch in housing.

It should also increase the rate of home ownership.

Young adults, particularly those who are currently having difficulty saving for a deposit would be better off.

Current homeowners would generally be worse off.

Renters would benefit because they are currently excluded from home ownership.

Older landlords, perhaps surprisingly, would also benefit. In many cases the increase in the value of their houses would outweigh the cost of the land tax.

Our findings raise a challenge for governments.

In the long run, the swap would improve the working of the economy, but in the short run it will hurt many current voters.

A gradual transition – either through a very long phase in (of the kind adopted by the ACT) or by allowing households to select into different tax systems (as NSW is planning) would help make the switch more palatable.

But the sooner we start, the better.<img alt="The Conversation" height="1" src="https://counter.theconversation.com/content/154935/count.gif?distributor=republish-lightbox-basic" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important" width="1">

 

This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/identifying-the-losers-and-surprising-winners-from-phasing-out-stamp-duty-154935">original article</a>.

 
</body></html>

Swapping stamp duty for land tax as the ACT government is doing and the NSW government is planning, is one of the best ways the tax system can help our economy

Identifying the losers (and surprising winners) from phasing out stamp duty

<html><body>
Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

The project developer Central Equity are matching the VIC government's $15,000 HomeBuilder grant to save Parkhill buyers $30,000.

That, combined with the potential to save up to $43,000 in stamp duty for owner-occupiers, totals $73,000 of savings. 

[smartcode_project:default project_id=27406]

Investors will benefit from the $24,500 in stamp duty concessions, and Central Equity are offering a rental guarantee for investor purchasers.

One bedroom apartments in the block start from $479,000, or closer to $400,000 for owner-occupiers after the savings boost.

Two bedroom apartments start from $619,000, up to $819,000 when including an extra bathroom and a parking space.

<a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/parkhill_melbourne_render_2.jpg" width="1202"></a>

The apartments, many spanning more than 70 sqm, have been designed by Central Equity's inhouse design team. They all have up to 2.7 metre high ceilings, a gourmet kitchen with stone benchtops and Miele appliances and bathrooms with German tapware.

The development has a 6.5 star energy rating, with apartments fitted with double glazed windows.

Residents in the building will have access to a seven day concierge, a rooftop gym and a rooftop garden, complete with barbecues and outdoor seating.
</body></html>

Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

Buyers could save up to $73,000* on a brand new home at West Melbourne's Parkhill thanks to developer Central Equity matching the government grants

<html><body>
A continuining drop in first home buyer numbers has chief executive of the Real Estate Instute of Western Australia (REIWA), Neville Pozzi, warning the government not to introduced any stamp duty increases for first timers.
He said that this drop should come as a budget warning to the state government.
“Given that first home buyers are dropping in numbers, it’s critical that the Treasurer doesn’t bring back stamp duty for this segment of the market,” Pozzi said.
Currently, first home buyers in Western Australia are exempt from stamp duty payments for homes under $500,000.
“It’s very concerning, however, that Premier Barnett has indicated that the current tax break for first home buyers is under review and might be changed,” he said.
“The housing market is very susceptible to cost pressures and making first homes more expensive would be a terrible blow to the market just as it’s starting to stabilise,” he said.
FHOG applications for the March quarter, as recorded by the Office of State Revenue, recorded a 9% drop. This is 21% below the June 2013 peak.
This drop is across both the established and new-build sectors, with established homes dropping by 14%.
“This means that grants being paid out have now fallen below the average since the FHOG was first introduced 14 years ago,” he said.
He noted that the "last thing" the market needs at present is any added cost pressure on first time buyers.
The median purchase by first home buyers in March was $470,000 in Perth, and $350,000 in regional Western Australia.
</body></html>

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