A long-awaited transformation of a former industrial site in Holroyd has been given the green light, with the NSW Government approving the $1.2 billion Crescent Parklands masterplan that will deliver more than 1,200 new homes just south of Parramatta.

The State Significant Development approval clears the way for a large-scale mixed-use precinct at <a href="https://www.apartments.com.au/new-apartments/1-crescent-street-holroyd-nsw-2142">1 Crescent Street</a>, replacing an underutilised site with a coordinated residential community anchored by new open space, retail, and commercial uses.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> for WA-based developer Tiberius, the approved scheme comprises seven buildings arranged across two precincts. In total, the development will deliver 1,227 apartments, including 201 allocated as affordable housing, alongside approximately 2,500 sqm of retail and 5,000 sqm of commercial space within a mixed-use podium.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="1cc82dd2-8184-4b86-8665-90653147820d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20buildings.png?VersionId=2ZmVDc_Rfc4AzQ6ShzZJlvdZnACLerVM" />

The project is structured as a masterplanned precinct rather than a standalone tower. Buildings 1 to 4 will rise from a shared podium with shop-top housing, while Buildings 5 to 7 are positioned closer to the northern park interface as residential flat buildings. The built form has been carefully modulated to balance density with amenity, with the design resolving building separation, solar access, and wind impacts at a precinct scale.

A significant focus of the design is the activation of Crescent Street and the integration of public domain. The submission notes that “individual townhouses [were] removed for community based functions to Crescent Street to increase activation and surveillance,” reinforcing a more urban and publicly engaged street edge. Retail, commercial tenancies, and resident amenity spaces are concentrated along this frontage and within the podium to support day-to-day activity.

The landscape strategy underpins the project’s identity, with a network of pedestrian connections, landscaped corridors, and open spaces linking the site internally and to its surroundings. The design prioritises permeability, delivering “increased uninterrupted flow between spaces for pedestrian access” and improved connections through to the adjoining parklands.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="19282454-ab2f-4e2c-866f-4b35cf4283d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20masterplan.png?VersionId=JQdWGYI5B5R1lzmK4omYOp_8KLPkT4Bv" />

Buildings within the western precinct are oriented toward the park, shaping a residential offering defined by proximity to open space. The design describes this approach as creating apartments “immersed in nature with apartments facing the park,” positioning the landscape as a central organising element of the masterplan.

The broader architectural response addresses both infrastructure and context, with taller elements capturing long-range views toward Parramatta while setbacks and separation distances mitigate impacts on surrounding residential areas. Sustainability initiatives, including solar optimisation, cross-ventilation, and integrated landscape systems, are embedded across the scheme.

Located approximately one kilometre south of Parramatta CBD, the 3.6-hectare site is bounded by Crescent Street, Woodville Road, and Holroyd Sportsground. It benefits from strong access to public transport, including nearby bus routes and train stations, and sits within a rapidly evolving corridor earmarked for increased residential density. The design also strengthens connections between surrounding green spaces, including Holroyd Sportsground and Parramatta Parklands.

The approval follows several years of planning, including a rezoning process that enabled significant uplift in height and density across the site. With determination now secured, Crescent Parklands is positioned to play a major role in delivering new housing supply within Greater Parramatta’s growth area.

Joel Robinson

Tiberius’ Crescent Parklands to deliver over 1,200 homes in major Holroyd transformation

A new State Significant Development application has been lodged over land at <a href="https://www.apartments.com.au/new-apartments/33-43-marion-street-parramatta-nsw-2150">33–43 Marion Street</a>, Parramatta, proposing a high-rise mixed-use tower that leverages planning incentives to deliver a substantial pipeline of new housing, including a dedicated affordable component.

The scheme, currently on exhibition, combines a shop-top housing development with a concurrent rezoning, positioning the site for a significant uplift in density within Parramatta’s evolving southern CBD fringe.

The proposal, designed by <a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a> for CN Marion, would replace the existing buildings with a 37-storey mixed-use tower, delivering 296 apartments above a retail podium with six basement levels on the 2,376 sqm site.

The residential mix comprises 58 one-bedroom, 207 two-bedroom, and 31 three-bedroom apartments, with communal facilities located on the second level and the rooftop. Ground-level activation is driven by retail and food and beverage tenancies, alongside a publicly accessible through-site link designed to improve pedestrian permeability.

The project includes 194 car spaces, five motorcycle spaces, and 348 bicycle spaces, reflecting a transit-oriented approach in a location directly adjacent to the rail corridor and within walking distance of Harris Park Station.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="3db873ea-62f0-437b-8a6a-eeda154d2dee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20building.png?VersionId=YwzBv8OVHwyRnMLGX4slU7QyhTyMZeOX" />

The design adopts a podium-and-tower composition, with a three-storey street wall addressing Marion Street and a reduced two-storey interface responding to adjoining heritage cottages.

A key component of the proposal is the integration of affordable housing under the NSW Government’s in-fill affordable housing pathway, with units to be retained for a minimum of 15 years. This is paired with a broader public domain strategy that emphasises permeability, deep soil planting, and a landscaped through-site link.

“The strategy prioritises a permeable, well-activated public realm and supports a compact tower form to minimise the building’s footprint while enhancing the quality of the ground-level experience,” the design report states.

The proposal includes a central landscaped courtyard, rooftop communal areas, and planting strategies aligned with local environmental conditions and cultural narratives.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="f0e6c165-9967-4d20-9216-e5b8357c85ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20site.png?VersionId=SRod222LwgDmGZJmJY0wTbK39UrWZLSD" />

The site occupies a prominent corner of Marion and Station streets, roughly 100 metres from Harris Park Station, within a precinct earmarked for significant intensification. While the immediate context is characterised by low- to mid-rise buildings and heritage dwellings, planning controls and recent proposals point to a transition toward high-density development.

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Parramatta has been starved of new apartment supply in recent years. Builder-developers Deicorp and Coronation are the only two currently progressing projects in the suburb. Coronation is nearing completion of <a href="https://www.apartments.com.au/new-apartments/8-phillip-street-2-10-phillip-street-parramatta">8 Phillip Street</a>, which will be the tallest building in Western Sydney once finished, while Deicorp is delivering <a href="https://www.apartments.com.au/new-apartments/cosmopolitan-by-deicorp-parramatta-34-hassall-street-parramatta-nsw-2150">Cosmopolitan</a>, a development comprising over 600 apartments.
</section>

First Look: Plans lodged for 37-storey mixed-use tower in Parramatta

A substantial uplift in height and density is being tested in Lane Cove, with a 225-apartment scheme at 300 Burns Bay Road now on public exhibition as a State Significant Development alongside a concurrent rezoning.

The proposal by <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> would see the demolition of an existing commercial building and associated structures, replaced by a residential development ranging from seven to 15 storeys.&nbsp;

The scheme delivers 225 apartments, including 34 designated as affordable housing, positioning it within the NSW Government’s accelerated Housing Delivery Authority pathway.

The development is arranged as three interconnected residential flat buildings, a response to the site’s long, narrow configuration and sloping topography.&nbsp;

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="c325d40c-ead5-45f4-9d77-5a446b23acc0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20Cove%20pers.png?VersionId=hsCJxT5hj.5kzA6AMInyan1x8mcHeRez" />

<a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, the project’s designer, describe a built form that is “divided into three sections, each connected by intermediate infill slots which are recessed to establish greater setbacks and further articulate the development.”

Across the scheme, apartments are supported by communal amenity at ground and rooftop levels, including landscaped open space and a rooftop pool. Basement and lower ground levels accommodate parking, storage, and building services, while a new public park is proposed along the eastern edge of the site, replacing part of the existing built form.

The architectural response has been shaped by the site’s pronounced fall towards the Lane Cove River, with building heights stepping down from west to east to reduce visual bulk and respond to adjoining bushland.&nbsp;

The design report notes that “the development has been carefully designed to integrate with the existing topography with the placement of massing and floor levels adjusted respecting the site’s inherent characteristics.”

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="31cc13a5-bc8b-4dc3-b9b1-07c6ec33a82b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20cove%20site.png?VersionId=NiyH3LimQwiHsE6Q7I5g4Grpr5fRdZaX" />

The project is being advanced through a concurrent rezoning process, seeking to increase the permissible height and floor space ratio beyond current Lane Cove LEP controls of 21 metres. Under the proposal, height would reach up to 54.5 metres, reflecting a shift toward higher-density outcomes in well-located urban areas.

Located on a 7,595 sqm site, the development sits within an established high-density residential pocket characterised by mid-rise apartment buildings set within a bushland setting. The site is within close proximity to Burns Bay Reserve, the Lane Cove River, and an extensive network of open space, reinforcing its strategic positioning for increased housing supply.

Level 33 is doing through the Housing Delivery Authority to try and get its Homebush project of <a href="https://www.apartments.com.au/news/nsw/level-33-adds-to-2-000-unit-pipeline-with-new-two-tower-homebush-plans">more than 300 apartments approved</a>.

The developer has over 2,000 apartments in the pipeline, predominantly in Wollongong.

First look: Level 33 proposes 225-apartment Lane Cove tower

Following the completion of its debut Palm Beach apartment development EVA on Tenth, local Gold Coast developer Chippendale Group has launched its latest project in the in demand area.

Chippendale Group, led by fifth-generation Palm Beach local Daniel Chippendale, has kicked off sales at&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221&amp;source=gmail&amp;ust=1775884443343000&amp;usg=AOvVaw2GyxnGQKU2XXwTzQ8_VHgi" href="https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221" target="_blank">ELISE</a>, 68 coastal-infused apartments just 40 metres from the sand on Twenty Fifth Avenue.

[smartcode_project:default project_id=150992 project_image_fid=366023]

Construction is already well underway, a signal of confidence to buyers, following the demolition of the two-storey walk-up and 1990s built house that sat on two sites that have been amalgamated to create a prime corner block.

There are a mix of two- and three-bedroom apartments on offer, starting from $1.4 million.

[smartcode_project:default project_id=150992 project_image_fid=366024]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, Elise responds to its coastal setting through a horizontal architectural form with recessed glazing and layered landscaping. The design aims to balance light, shade and sea breezes while creating a defined presence along the streetscape.&nbsp;

Residences have been planned with an emphasis on outdoor living suited to the Gold Coast climate, including large balconies designed as usable outdoor rooms. Interiors will feature a selection of European appliances and natural materials, including New Zealand wool carpets.&nbsp;

[smartcode_project:default project_id=150992 project_image_fid=366033]

Resident amenities are centred around a wellness-focused ground-level precinct. There will be private access to a heated swimming pool, sauna, cold plunge and gym, alongside a residents’ lounge with dining and entertaining space.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221">ELISE</a> is located towards the northern end of Palm Beach, which puts it just a short walk to Tallebudgera and Currumbin Creeks. At the end of the street is the newly extended Oceanway, a 36-kilometre pathway that runs up and down the Gold Coast.

Chippendale is targeting a late 2027 completion date for <a href="https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221">ELISE</a>.

[smartcode_project_cta:default project_id=150992]

Chippendale Group launches Elise, 40 metres from the Palm Beach sand

Sydney developer <a href="https://www.apartments.com.au/new-apartments/31-41-o-hara-street-marrickville-nsw-2204">Third.i</a>&nbsp;has announced a new transport-oriented development in one of Sydney Inner West’s most sought-after metropolitan locations, delivering much needed housing within steps of world-class public transport and vibrant village life.

Located at&nbsp;31-41 O’Hara St,&nbsp;Marrickville, the proposed mixed-use development will include around 300 apartments, with up to 17 per cent dedicated to affordable housing, reinforcing Third.i’s commitment to creating inclusive, well-connected communities that support a diverse mix of residents who keep Sydney’s neighbourhoods thriving.

Located just 100 metres from the new Metro station, the development places residents within minutes of the CBD while offering seamless access to the Inner West’s cafés, retail, and local services. Anchored within a thriving local centre, the project supports everyday living without reliance on cars, while also delivering new public open space for the local community, including a new park and landscaped green areas, alongside high-quality private resident amenities.

Florian Caillon, Head of Acquisitions for Third.i Group, said the project builds on the company’s ongoing work alongside the NSW Government to deliver housing and amenity alongside major transport infrastructure. Amenity includes an activated pedestrianise retail strip that connects Illawarra Road down to the pocket park, and health and wellness facilities.&nbsp;

“Delivering housing of this scale within an established village is a rare opportunity, and few companies have achieved residential outcomes of this size at a village centre," Caillon said.

"We are excited to set a new standard for urban living in the heart of Marrickville,” he said.&nbsp;

The inclusion of affordable housing has been welcomed by frontline workers.

“We are supportive of developments which will allow essential workers like nurses, midwives and carers, the opportunity to live in the communities they care for," said&nbsp;Michael Whaites, General Secretary of the NSW Nurses and Midwives’ Association..

“Many healthcare workers tell us they would like to live closer to where they work, but are being priced out of the market, forcing them to move further away.&nbsp;

“Dedicated apartments for essential workers will support recruitment and retention in local hospitals and aged care facilities, helping to strengthen our health system.”

The project has been declared State Significant Development (SSD) by the Housing Delivery Authority (HDA).

Third.i to deliver 300 apartments in Marrickville TOD precinct

NSW first-home buyers had until July 31 to save $31,000 on stamp duty fees for new homes in New South Wales, with a temporary extension of stamp duty relief ending.

The measure allowed first-home buyers to avoid paying stamp duty on new homes worth up to $800,000.

From August 1, the property price cap for a stamp duty exemption will drop back from $800,000 to $650,000.

<a href="/developments/sydney-nsw?source_news_article_id=106698&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_13.jpg" width="1200" /></a>

The purchase price cut-off for concessions will also drop from $1 million to $800,000.

Further information can be found at: First Home Buyer Assistance Scheme - https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme.

The biggest benefit was only available from the 1 August 2020 to 31 July 2021 during which the NSW Government increased the transfer stamp duty thresholds for the purchase of new homes and vacant land.

And from the 1st of August 2021, the thresholds revert to the previous parameters in place prior to 1 August 2020.

Buying a first home becomes harder from August 1 in NSW

jchancellor-FAypfDUnLy

NSW first home buyer stamp duty incentives slip backwards from August 1

The ongoing&nbsp;surge in home financing and purchasing took a hit in April as one of the key drivers, the HomeBuilder Grant, came to an end in March.&nbsp;

Many developers however are sighting that the&nbsp;completion of the HomeBuilder Grant has failed to deter first home buyers.

Check out what first home buyers have been keeping an eye on in April.

Here are Urban’s most popular FHB projects:

1. Haven Townhomes, Keysborough

Three-bedroom townhouses&nbsp;from&nbsp;$675,000

[smartcode_project:default project_id=8082]

For those First Home Buyers with a family, or seeking something larger Haven Townhomes has been very eye-catching with affordable and stylish three and four bedroom townhomes on offer

Like Sixth Avenue featured later in this list it's another Aultun Group development this time partnering with&nbsp;Cera Stribley Architects.

The Haven estate encompasses a variety of two storey floor plans with the option of choosing a house and land package, or an off-the-plan purchase.

Situated surrounded by thriving wetlands and meandering walking trails, each of the 59 Haven Townhomes are in a prime position for stunning views, access to nature and world-class&nbsp;amenities.

It is set for completion in December 2021.

2. Live City,&nbsp;Footscray

Two-bedroom apartments from $460,000

[smartcode_project:default project_id=3565]

The new masterplanned community, Live City, comprises 208 residences spread across 14 floors, backed by developer R&amp;F Property Australia.

Set to deliver over 1,400 apartments across eight buildings, the Footscray project brings together a fully-integrated, mixed-use community that’s thriving with character and history.

Designed by Elenberg Fraser, each residence features floor-to-ceiling windows, contemporary interiors and an abundance of natural light.

It is the most affordable development on this list with a one bedroom abode available from $350,000.

3. Melbourne Square

Two-bedroom apartments from $642,000

[smartcode_project:default project_id=2929 project_image_fid=137895]

OSK Property are the group behind the&nbsp;boutique collection of homes at&nbsp;Melbourne Square.

Featuring four distinct themes, it has been architecturally designed by&nbsp;Cox Architecture, with interiors by designer&nbsp;Sue Carr, creating flawless spaces which make the most of the spectacular city views on offer.

Each bedroom boasts a stunning view&nbsp;via floor-to-ceiling glazing, plus the master suites offer a unique panoramic&nbsp;city vista.

Set for completion in mid 2021, amenities include a full-line Woolworths and other shops as well as resort-style facilities including pools, sauna, spa, gymnasium and a yoga room.

4. Sixth Avenue, Chelsea Heights

Two-bedroom townhouses from $599,000

[smartcode_project:default project_id=32136]

Sixth Avenue, delivered by the Aultun Group, was Urban's most popular project for first home buyers in the first quarter of 2021.

Designed by Point Architects in the near coastal suburb south-east of Melbourne, Sixth Avenue features light-filled interiors, bespoke landscaping and recreational amenities within easy reach. &nbsp;

Boasting a collection of 59 two, three and four-bedroom residences, the project provides perfect bayside living with an endless array of retail, dining, and recreational amenities all within easy reach. Whether you prefer to take a dip in the sheltered bay waters or seek the rush of adrenaline through sports and activities, Sixth Avenue’s premium location provides for all lifestyles.

5. Ryrie Home, Geelong

Two-bedroom apartments from $699,000

[smartcode_project:default project_id=5559 project_image_fid=88242]

Ryrie Homes was Urban's most popular investor project for Q1 2021, however this month's results show its appeal for FHB's, with Geelong's strong performance as one of the nation's most sought-after regional areas doing excellent work for this development.

Delivered by Franzé, each Ryrie Home apartment has been cleverly designed by Architectus to deliver great amenity, comfort and abundant storage, with timber flooring, beautiful finishes and quality fixtures.

Each apartment enjoys panoramic bay views and alfresco dining for year-round holiday living.

With the foreshore, 500m north and the CBD, 500m east—as well as parks, theatres, galleries, cafés and restaurants all within walking distance—Ryrie Home offers a level of culture and connection unmatched in Geelong.

Plus for first home buyers&nbsp;looking for something on the more affordable side, one-bedroom apartments start at $375,000

Check out what first home buyers have been keeping an eye on in April

jordan_55689

The most popular VIC developments for first home buyers in April on Urban

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Until the end of March buyers can save up to $63,000 buying an apartment in the Clayton South apartment development Aster, the final release in the sought-after Jackson Green community.

The Cedar Woods Developer Boost, which matches the Victorian government's $15,000 HomeBuilder Grant, can see first home buyers save up to $63,000 when combined with the First Home Owner Grant and stamp duty savings.

The entry level apartments are priced at $396,800 for a limited time, and two bedroom apartments from $524,000 for eligible buyers. Three bedroom apartments start at $725,000.

Aster, set across three buildings in the heart of Clayton South, has been designed by DKO and comprises 63 one, two and three bedroom apartments just 20 kilometres from the Melbourne CBD.

[smartcode_project:default project_id=4124]

Each apartment will feature generous open plan living spaces and quality fixtures and finishes throughout.

Aster Apartments, fronting Haughton Road, will be part of the wider Jackson Green community which already has a number of successful apartment developments.

It sits near at the end of a spaced-out row of the completed Wattle Apartments and Gardenia Apartments. At the other end of the row is the sold-out Huntington Apartments.

Aster sits directly opposite Jackson Green’s central park, allowing unparalleled access. Just across the road is a recreational hub with a dog park, basketball courts, the Djerring trail and other outdoor facilities for all to enjoy.

 
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The Cedar Woods Developer Boost, which matches the Victorian government's $15,000 HomeBuilder Grant, can see first home buyers save up to $63,000 



First home buyers save up to $63k in Clayton South's Aster Apartments as Cedar Woods match HomeBuilder Grant

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<div>Deposit scheme scramble</div>
<div> </div>
<div>As REA Group, correctly anticipated, first homebuyer numbers are getting set to rip higher.</div>
<div> </div>
<div>The Australian reports today that well over 4,000 of the 10,000 places made available for the First Home Loan Deposit Scheme (FHLDS) effective 1 July have been reserved in less than four weeks. </div>
<div> </div>
<div>The federal government is therefore considering extending the scheme reports the article:</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-UbzA0cR-6WA/XyH56IexfKI/AAAAAAAA3Vg/y_Vif17MErcybRF0__rd7_cOqJ9loQLIQCNcBGAsYHQ/s640/FHLDS.jpg" width="640" height="78" data-original-height="96" data-original-width="772"></div>
<div> </div>
<div>The FHLDS potentially allows thousands of first homebuyers to buy using only a 5 per cent deposit. </div>
<div> </div>
<div>With all of the other grants and stamp duty exemptions being thrown in around the country, it's no surprise that first homebuyers are taking advantage of the lowest mortgage rates in history to take the plunge. </div>
<div> </div>
<div>New houses have been particularly popular for FHLDS applicants...more so than apartments and townhomes.  </div>
<div> </div>
<div>First homebuyer numbers had slowed in May, but now look set to retake decade highs.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-mHjeF2-0gtA/XyH7HN-IHAI/AAAAAAAA3Vw/Uk-KbiqlBWAXNtHT-v34rIm4ut-ZxGaqACNcBGAsYHQ/s640/FHB.jpg" width="640" height="362" data-original-height="806" data-original-width="1422"></div>
<div> </div>
<div>Meanwhile the New South Wales government looks set to have another crack at Build to Rent by offering land tax discounts.</div>
<div> </div>
<div>It's an overrated and misunderstood concept which rarely seems to work well.</div>
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pwargent-M4siyDbqQY

First home buyer numbers set to grow: Pete Wargent

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The announcement of HomeBuilder has triggered a land rush, with enquiries for vacant residential land surging over the past two months.
Email enquiries to residential agents on realestate.com.au hit a record high in June, increasing by 11.2 per cent following a 36.6 per cent increase in May. Year-on-year, total email enquiries to agents has doubled.
A closer look at the data shows part of this growth can be attributed to a surging interest in vacant land on the back of the Federal Government’s Homebuilder stimulus announcement.
Even though vacant land enquiries are a very small overall share of total email enquiries, representing just 14.7 per cent in June, the data shows vacant land enquiries have soared to a record high – up 58.8 per cent over the month on June.
In terms of who is leading the land rush, the data overwhelmingly points to first-home buyers, with enquiry from first timers up 177.8 per cent over the month.
Comparatively, enquiry from non-first-home buyer owner occupiers was up 35.4 per cent over the month, while investor enquiries rose 25.8 per cent.
So where are first-home buyers most active?
Interestingly, the monthly increase in New South Wales (55.2%) was relatively muted compared to increases in Victoria (132.1%), Queensland (208.5%), South Australia (215.9%) and Western Australia (616.6%).
 
However, given the relatively high price of land in Sydney, and the fact that HomeBuilder eligibility requirements mean you need to acquire land and build a house for under $750,000, it’s perhaps not all too surprising NSW has seen the smallest increase in activity.
There’s also evidence that this surge in enquiry is translating into sales.
We measure sales volumes on a weekly basis by counting the number of properties that were listed for sale on realestate.com.au that were shifted by agents, during the same week, to the sold section of the website.
Cameron Kusher is the Executive Manager of Economic Research at REA
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ckusher-ujnxiKuFQs

HomeBuilder Grant triggers FHB led land rush: REA's Cameron Kusher

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ME has launched one of its best-ever home loan offers, designed exclusively for First Home Buyers.
The offer gives eligible First Home Buyers access to a 25% discount on LMI, variable rates as low as 2.58% p.a., and no annual fee.
“This offer will help address housing affordability and gives first home buyers a leg up at the perfect time,” ME General Manager, Home Lending Andrew Bartolo said.
“With COVID-19 impacting house prices and many government grants and incentives available, now could be an ideal time for First Home Buyers to finally get into the market.”
<img src="https://www.urban.com.au/images/2020/9/28/ME%20FHBs%20discount.JPG" alt="">
The offer is available to First Home Buyers for the purposes of buying or constructing their first residential dwelling solely for owner occupation. Applicants don’t have to qualify for the Australian Government’s First Homeowner Grant scheme, and they can own or have previously owned a residential investment property.
Customers need at least a 5% deposit (95% LVR) to qualify for both the LMI and variable rate discount. Customers with larger deposits (lower LVR) can access better rates.
The offer is valid for applications submitted from Monday 28 September 2020 to Friday 20 November 2020, that settle by 26 February 2021.
ME’s offer is being advertised nationally.
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j.ballantyne1990-6AQqhLzZaK

ME Bank offer discount to first home buyers

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EXPERT OBSERVER
The HIA-Housing Affordability Index for the June quarter 2020 shows housing in Australia remains at its most affordable since 1999.
HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates and wage developments.
Housing affordability improved in the June quarter across all capital cities.
This improvement in affordability means that it now requires less than 1.2 average incomes to service a mortgage on a median-priced dwelling in Australia’s capitals.
This is a rapid improvement from just three years ago when it required more than 1.4 times the average income to service the same mortgage.
The combination of lower interest rates, slow house price growth and relatively steady wage growth over the past three years have driven this improvement in affordability.
Unfortunately this is cold comfort for many first home buyers.
Repaying a mortgage is no longer the constraint it was over the past two decades. The increase in the number of new homes built over the past five years has kept a lid on house price growth.
The challenge facing first home buyers is no longer their ability to repay a loan, but in obtaining a mortgage in the first place.
A decade of red tape has made it significantly harder for first home buyers to obtain a mortgage for purchasing their first home.
A raft of restrictions imposed by APRA and ASIC since the 2007 Global Financial Crisis has seen the number of home loans issued with a 10 per cent deposit fall from 21 per cent of all loans to just 7 per cent.
As the Governor of the Reserve Bank, Phillip Lowe said, the pendulum has swung too far.
The additional red tape imposed in recent years means that banks are increasingly lending to those that already own a home.
Improving access to finance helped pull the economy out of the 1990’s recession and it can do the same for the COVID-19 recession.
The HIA Housing Affordability Index for the capital cities increased by 5.6%, led by Perth (+7.1%), Melbourne (+6.9%) and Sydney (+6.1%). Brisbane also increased by 5.0%, followed by Canberra (3.3%), Hobart (+3.1%), Adelaide (+3.1%) and Darwin (+1.6%). The Index for regional Australia also increased by 4.9 per cent.
TIM REARDON is the HIA’s Chief Economist
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Housing in Australia at its most affordable since 1999

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From Wednesday, an additional 10,000 loan guarantees from the Morrison Government’s First Home Loan Deposit Scheme are now available for first home buyers over the next 12 months.
The scheme has so far provided 10,000 guarantees to eligible first home buyers to allow them to purchase a modest home with a deposit of as little as five per cent.
It can also be used in conjunction with the Morrison Government’s First Home Super Saver Scheme and HomeBuilder, and first home buyers may also be eligible for state and territory grants and concessions.
In the first year of operation, data also shows that guaranteed loans went to applicants whose income were well below the Scheme’s caps. The average income of single applicants is $66,488 ($125,000 cap) and for couples $109,410 ($200,000 cap).
The scheme has proven most popular with first home buyers under the age of 30 years of age who secured 59 per cent of guarantees, and 12 per cent of guarantees have been secured by Australians over the age of 40.
The largest amount of applications for guaranteed loans, 45 per cent, were made through mortgage brokers.
For more information and eligibility criteria visit <a href="https://www.nhfic.gov.au/what-we-do/fhlds/" target="_blank">NHFIC’s First Home Loan Deposit Scheme website</a>.
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