A subtropical pair of residential towers are in planning for a key South Brisbane site neighbouring the iconic Expo ’88 Skyneedle, with new documents revealing a vertically layered vision designed to respond to the precinct’s evolving high-density character.

The proposal has been lodged by&nbsp;Darveniza Group, which is also is behind the 400-apartment Station Quarter precinct in Alderley.

Darveniza Group, led by Jane Darveniza, the Brisbane-based investor and Queensland rich-lister and widow of the late property magnate Bojan Darveniza, is seeking approval for a mixed-use project encompassing 204 apartments, ground-level retail, food and drink tenancies, and office space across two architecturally integrated towers at 37–39 Manning Street.

Occupying an 1,822 sqm site, the proposed towers would rise above a sculptural podium base, with a recessed landscaped centre, rooftop communal areas, and a total of 220 car parks and 256 bicycle bays. The apartment mix spans one- to five-bedroom dwellings, with a design emphasis on generous balconies, cross-ventilation, and climate-responsive materials.

<img alt="First look: Twin towers proposed for Manning Street site beside Skyneedle" data-entity-type="file" data-entity-uuid="42c1f501-2afd-440b-af49-67c257123ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Manning%20podium.png?VersionId=KFlksfWzmDRD.VIYxd_1q3VAel.nN3TH" />

“The development is conceived as two slender twin buildings that meet at a lushly landscaped central recess,” the Finegrain design report states. “The façade is highly articulated with the plan form stepping back and forth to reduce visual bulk and maximise internal occupants’ access to natural light and air”.

A hallmark of the proposal is its integration of greenery, both visually and functionally. Around 77 per cent of the site’s green plot ratio is delivered through vertical planting spines, a green podium wall, and rooftop amenity. Ground-level deep planting and landscaped communal zones aim to create a shaded, walkable interface along Manning Street.

“The stepped plan form introduces variation in balcony setbacks and enclosed apartment areas, enriching both the façade expression and the resident experience,” the design team notes. “At ground and podium levels, this stepping also enhances permeability, maximising pedestrian view lines to the neighbouring Skyneedle and reinforcing a strong sense of local identity”.

<img alt="First look: Twin towers proposed for Manning Street site beside Skyneedle" data-entity-type="file" data-entity-uuid="b3f26dfc-6b93-465c-9ffb-0a2530372a23" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Manning%20site.png?VersionId=JflvKdqDxcaHTFbb9HL5TwoiRgeQ2LqA" />

The site directly adjoins the heritage-listed Skyneedle at 35 Manning Street, an enduring legacy of World Expo ’88. The accompanying heritage impact report by Pendergast Architects contends that the proposal has been carefully conceived to protect the cultural significance and landmark visibility of the structure.

“The design provides setbacks, tower separation and podium articulation to maintain the visibility and landmark role of the adjoining Skyneedle,” the report states. “The significance of the Skyneedle lies principally in its landmark visibility and cultural symbolism, rather than in detailed fabric or architectural setting”.

The proposal sits within the Kurilpa Sustainable Growth Precinct, under Brisbane’s TLPI 02/2023, where revised planning controls support high-density, mixed-use development integrated with subtropical design and increased public realm contributions.

Finegrain’s design reflects this intent, drawing cues from the site's adjacency to Musgrave Park, the subtropical landscape of South Brisbane, and cultural landmarks such as QPAC and South Bank.

Joel Robinson

Twin green towers proposed for Manning Street, South Brisbane site beside Skyneedle

A first-of-its-kind culinary precinct is coming to <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a>, inspired by global street-food flavours and best-in-class restaurants and entertainment.

Deicorp’s emerging mid-city precinct, <a href="https://www.apartments.com.au/new-apartments/melrose-central-melrose-park-33-hope-street-melrose-park-nsw-2114">Melrose Central</a>, will become the go-to precinct within the wider Melrose Park community, and at its heart, a first-of-its-kind culinary precinct that brings the buzz of Asia’s most iconic food streets to life.

Spanning more than 4,700 sqm, Melrose Central street food precinct is inspired by the energy and vibrant flavours of street-food neighbourhoods from Hong Kong and Tokyo to Seoul and Singapore.

This new destination will be over three times the size of existing offerings like Burwood Chinatown or Westfield Chatswood’s Hawker Lane, positioning Melrose Central as a must-visit dining hub for all of Sydney.

[smartcode_project:default project_id=134220 project_image_fid=289878]

Designed by Anthony Ho of Basalt Studio, this street food concept blurs the lines between culinary theatre, art, and entertainment, offering an immersive experience. Neon-lit laneways thread between open kitchens and live grill stations, while murals, interactive displays, and light installations will bring the precinct to life, trading until late, a first for the area.

“We’ve imagined our street food concept as a graduated evolution of everything people love about Burwood Chinatown, East Village and Regent Place, elevated by the immersive artistry creating a city-style dining offer,” said Bilinda Turner, Head of Retail at Deicorp.

“By curating the very best tenants from across Australia, we’re creating a fit-for-purpose town centre for 2025 and beyond. It’s something that people truly haven’t seen before."

[smartcode_project:default project_id=134220 project_image_fid=352610]

Melrose Central is far more than a food precinct. Spanning 30,000 sqm across four levels, the shopping centre will be home to approximately 100 retailers, providing a total lifestyle offering from morning until late evening.

Fresh food offerings span a brand new Coles Supermarket, Local Grocer, Korean Supermarket, Bakery and boutique fresh food, as well as a Dan Murphy's, while health needs are covered from a pharmacy, medical centre and allied health. Fitness and wellbeing take centre stage from a dedicated wellbeing hub that includes pilates, recovery, Infrared saunas and a gym, to name a few.

Variety stores will feature throughout, as well as personal care offerings from nail salons to hairdressers, as well as a dedicated early-learning centre on level 1.

[smartcode_project:default project_id=134220 project_image_fid=289888]

Situated above the retail precinct will be 495 Turner Studio-designed apartments that open onto 6,000 sqm of lush podium gardens and rooftop terraces.

Located just six kilometres east of Parramatta’s CBD and 15km from Sydney CBD, Melrose Central forms the retail and lifestyle heart of Melrose Park, an urban-renewal precinct that is set to deliver more than 11,000 homes, 22,000 new residents, and 50,000 sqm of park and open space.

A dedicated stop on Parramatta Light Rail Stage 2 will arrive at the precinct’s Hope Street entrance, and the forthcoming Parramatta Gateway Bridge will link directly to Sydney Olympic Park and Wentworth Point.&nbsp;

Supported by a 10-minute drive, this growing catchment of 200,000 people, which is projected to grow to 279,000 by 2026, and an average household income above the Greater Sydney average, Melrose Central embodies Deicorp’s vision for transport-oriented, community-focused placemaking.&nbsp;

Melrose Central street food precinct and the wider Melrose Central retail town centre are both slated to open in mid-2026.

[smartcode_project_cta:default project_id=134220]

Melrose Central: First-of-its-kind culinary precinct coming to Sydney’s West

<a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> has unveiled the fifth and final stage of its $1 billion Norwest community, The Orchards.

The final stage, <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a>, will deliver 209 apartments across two distinctive buildings, Essence and Eden. The 135 apartments in Essence will be the first to be released to the market, which will bring to an end the decade-long vision to create a&nbsp;neighbourhood defined by design excellence, sustainability, and community engagement.

&nbsp;

&nbsp;

&nbsp;

[smartcode_project:default project_id=150510 project_image_fid=351878]

David Lee, Sales Manager at Sekisui House Australia said, Zeste's oversized living spaces and diverse apartment mix, which includes the introduction of&nbsp;Breezeway Sky Homes for the first time, deliver a unique lifestyle offering.

Early purchasers will benefit from exclusive VIP pricing as well as the choice of one premium upgrade, which Lee says is a "thank you" for their commitment to the project.

[smartcode_project:default project_id=150510 project_image_fid=351876]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste embodies Sekisui House’s global design philosophy of creating harmony between people, homes and nature. Principal Ben Pomroy explained that Zeste is about living within the landscape.

“With two large courtyards, the lagoon pool precinct for the wider community and a central courtyard with pavilion exclusively for Zeste residents, the architecture frames an experience of living in a park," Pomroy said.

“Over 50 per cent of the site is landscaped, ensuring a deep connection to nature at every stage of daily life. The buildings are designed as a collection of smaller, finer-grain forms, with over 85% of apartments enjoying dual aspects.

“The focus on natural ventilation, generous layouts and communal interaction creates a residential environment that is both sustainable and socially connected.”

&nbsp;

[smartcode_project:default project_id=150510 project_image_fid=351886]

Natalie Shalala, a member of Rothelowman’s interiors team said they reimagined the former site’s Orchard homestead with a contemporary twist. &nbsp;

“The design draws on the nostalgia of the past orchard – timber floors, the warmth of a fireplace, the rituals of the homestead and reinvents them for modern apartment living,"&nbsp;Shalala said.

“We have created two tonal palettes, one with pale honey undertones and another with a soft blush inspired by nectar. A highlight feature is the cathedral glass light box, a bespoke design element that re-interprets the classic lantern. It is both beautiful and functional, tying kitchen and bathroom spaces together in a way that feels entirely unique."

Shalala said the&nbsp;day-to-day liveability has been carefully considered, with abundant storage solutions, butler’s pantries, bike storage and joinery designed to simplify routines and enhance comfort.

&nbsp;

[smartcode_project:default project_id=150510 project_image_fid=352090]

Apartments in Zeste start from $715,000 for one-bedrooms and extend through to expansive three-bedroom Sky Homes priced from $2.25 million. Floorplans range from 59 sqm to 144sqm.

The mix in Essence comprises 41 one-bedroom, seven one-bedroom + Max space, 39 two-bedroom, 40 two-bedroom Breezeway Sky Homes (24 of which include additional Max spaces), and eight three-bedroom residences.&nbsp;

Max spaces are integrated into select residences, offering a flexible room that can be tailored to individual needs, ideal as a home office, children’s play area, or additional storage.

[smartcode_project:default project_id=150510 project_image_fid=351881]

Zeste continues Sekisui House Australia’s partnership with Altogether Group, providing sustainable water, power and data services to residents. Passive design strategies include cross-ventilation, deep landscaping and water features that encourage evaporative cooling, aligning with The Orchards long-term environmental goals.&nbsp;

Construction is set to commence on the Zeste buildings in early 2026, with completion anticipated in late 2027 to early 2028.&nbsp;

More than 850 apartments have been sold across the masterplan, contributing to The Orchards community of 1,300 apartments when complete.

[smartcode_project_cta:default project_id=150510]

Sekisui House Australia launches Zeste, the final stage of its $1 billion Norwest masterplan

A significant addition to the Bella Vista Station Precinct is in the pipeline, with <a href="https://www.apartments.com.au/developers/landen-property">Landen</a> formally lodging a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/40-memorial-avenue-bella-vista-40-memorial-avenue-nsw-2153">new apartment community on Memorial Avenue</a>.

Positioned beside the Elizabeth Macarthur Creek corridor, the project is among the first major transit-oriented residential proposals within the Metro precinct.

The masterplan, designed by&nbsp;<a href="https://www.apartments.com.au/architects/turner-studio">Turner Architects</a>,&nbsp;outlines a four-stage delivery, comprising four buildings between four and fifteen storeys, and includes a mix of one-, two-, and three-bedroom apartments, alongside a limited selection of four-bedroom penthouses and terraces.

The project places a strong emphasis on housing diversity and liveability, with apartment sizes ranging from 50 to 180 sqm. The first stage will deliver 213 dwellings, followed by 231 in the second stage. Construction is expected to commence in 2026, pending approvals.

<img alt="Bella Vista Apartments" data-entity-type="file" data-entity-uuid="bb3d84b1-d2df-4e26-915a-31b27faf9b1a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/View02_01-scaled.jpg?VersionId=Gb0AUtZ3VXsLxrqUaw_AwT_vcBwQ_FJu" />

As the first transit-oriented development (TOD) in the precinct, Landen’s Bella Vista community has been designed to align closely with the surrounding Metro infrastructure. The proposal integrates new pedestrian and cycling paths, a new bridge over Elizabeth Macarthur Creek, and direct access to Bella Vista Metro Station.

Lush communal amenities are also central to the design. 'The Grove' and the 'Garden Link' will create landscaped community areas that reflect the area's agricultural heritage and provide direct access to the creekside.&nbsp;

The ‘Garden Patio’ is conceived as a multi-use indoor-outdoor facility offering a gym, study nooks, and communal lounge spaces.&nbsp;Rooftop terraces across the buildings will offer views to the Blue Mountains and Parramatta skyline.

<img alt="Bella Vista Apartments" data-entity-type="file" data-entity-uuid="778da409-d5cf-4e7d-9ba9-0c36990bf0b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/landen-bella-property-image.jpg?VersionId=ukPpmVcHF71xRc7U3MUT5rtGwOsntMMz" />

Landen’s Head of Property, Shane Harding, said the proposal highlights the developer’s precinct-scale ambition.

“As the first TOD proposal in Bella Vista, it highlights Landen’s ability to pioneer precinct-scale projects, integrate housing with infrastructure, and deliver outcomes that align with government priorities,” Harding told the Daily Telegraph.

The project arrives at a time of rapid growth in Western Sydney, with Bella Vista alone forecast to more than double in population by 2046. The development’s location, between the Bella Vista and Kellyville Metro stations, positions it as a connected lifestyle hub for families, professionals and downsizers seeking access to transport, schools, and employment centres.

Pending approval, the development is slated for completion in 2028.

Landen plans 444-apartment community in Bella Vista Metro zone

Developer <a href="https://www.apartments.com.au/developers/equicentia">Equicentia</a>, together with joint venture partners Wingala Capital and Monark Property Partners, has become the first in Manly to secure Resilience Insurance’s Latent Defects Insurance.

The trio has recently launched <a href="https://www.apartments.com.au/new-apartments/de-ville-manly-11-victoria-parade-manly-nsw-2095">De Ville</a>, a new luxury project on a long-dormant yet prime site at 9–11 Victoria Parade, positioned between East Esplanade and South Steyne.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="b2639bb1-d72c-4f28-b4dc-33190655e147" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-12%20at%209.38.37%E2%80%AFAM.png?VersionId=orUAk2m2tTKAAasLvZg0IaGQyDaZcKYI" />

The site was originally earmarked for a 26-apartment scheme, but following its $25 million acquisition of the near-1,200 sqm parcel, the development team opted for a more refined approach, reducing the yield to just 12 two- and three-bedroom residences across a six-level building.

Among them will be three full-floor penthouses boasting panoramic views across Manly Beach, North Harbour, and the city skyline. The apartments will sit above four ground-floor retail and commercial tenancies, designed to help activate Victoria Parade, an area long defined by its beachside character and interwar brick architecture.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="d6922f4a-21fb-4a07-8e40-241d594c2538" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/int3.jpg?VersionId=7U1Qw79_YT3bOZKr7.H03JHOFm3QVYlE" />

Designed by <a href="https://www.apartments.com.au/architects/platform-architects">Platform Architects</a>, De Ville’s sculpted form takes cues from the ebb and flow of Manly’s dual waterfronts, the ocean to one side and the harbour to the other.&nbsp;

The architecture’s soft curvature and rhythmic vertical brickwork reflect the natural patterns of the tide, while a refined palette of Lohas brick, sandy render and glass detailing allows the building to harmonise with its coastal context.&nbsp; Cascading greenery and deep balconies bring texture and shadow to the facade, reinforcing the building’s connection to nature and the street.

Buyers have a choice of two different colour palettes, Taj Mahal and Brescia Green, each layering soft tones and organic finishes to capture the coastal light.

<img alt="De Ville" data-entity-type="file" data-entity-uuid="be78b114-88ed-4d33-a4ef-50e14d2f9064" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/int6a.jpg?VersionId=hBrZPvs1L2LwThSatcNMXTg0tltfEn4a" />

De Ville is the first development in Manly to fully protect its buyers with 10-year Latent Defects Insurance offered by Resilience Insurance.

The policy covers buyers for 10-years post-completion of the building, a first-resort cover again&nbsp;major structural or waterproofing defects.&nbsp;

Unlike traditional statutory warranties, which often require complex and lengthy claims processes, LDI ensures that if a covered defect arises, the insurer responds immediately - without the need to prove fault or pursue the builder or developer.

This new model of protection has been gaining traction among forward-thinking developers and financiers alike. For buyers, it offers tangible assurance of quality and accountability; for lenders and insurers, it reflects a measurable reduction in long-term risk.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a>

[smartcode_project_cta:default project_id=151559]

Equicentia launches Manly's first new development with 10-year Latent Defects Insurance

First Home Loan Deposit Scheme

Some 30,000 new places are available under the Australian Government&rsquo;s First Home Loan Deposit Scheme, the New Home Guarantee, and the Family Home Guarantee from July 1, 2021.

Some 10,000 additional places have been released under the First Home Loan Deposit Scheme for the 2021-2022 financial year.&nbsp;

The scheme supports eligible first home buyers purchase an established home or a new home sooner with a deposit of as little as 5 per cent.

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[smartcode_project:default project_id=27406 project_image_fid=68117]

New property price caps will apply from today for the First Home Loan Deposit Scheme.

These property price caps also apply to the Family Home Guarantee, a scheme which was announced in the 2021-2022 Federal Budget to support eligible single parents with at least one dependent child.&nbsp;

There will be 10,000 Family Home Guarantees made available over four financial years from 1 July 2021 to buy a new or existing home with a deposit of as little as 2 per cent.

The New Home Guarantee, announced in October 2020, is specifically for eligible first home buyers building or buying a new home with a deposit of as little as 5 per cent.

&nbsp;

[smartcode_project:default project_id=3260 project_image_fid=62318]

It has been extended under the 2021-2022 Federal Budget with 10,000 new places available from 1 July 2021 to 30 June 2022.

Applications for the three schemes can be made through participating lenders or mortgage providers.

Information about the schemes, price caps, eligibility requirements and how to apply can be found on the <a href="https://www.nhfic.gov.au/what-we-do/support-for-buying-a-home/">updated website here</a>. 
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From today, 30,000 new places are available under the Australian Government’s First Home Loan Deposit Scheme, the New Home Guarantee, and the Family Home Guarantee.

jchancellor

30,000 government grants for property buyers kick off July 1, 2021

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Coronavirus-impacted “pockets” of Sydney’s north-west and inner-south-west have seen falling median values create opportunities for first home buyers, according to CoreLogic head of research, Eliza Owen.

Although Australia’s residential property market has shown resilience, despite the shock of the pandemic, recent value falls may have created an opportunity for first home buyers who want to take advantage of the first home loan deposit scheme (FHLDS).

On February 3, minister for housing Michael Sukkar announced the reissue of around 1,800 FHLDS places, creating opportunity in suburbs where unit medians have slipped below the Sydney threshold of $700,000.

As of January 2021, there was an average of 107 suburbs observed in the capital cities with a median value at or below the qualifying threshold for the FHLDS, assuming the application is for an established property.

In Sydney, where international border closures have created a particular demand shock, median unit values have declined up to -$88,146 between March 2020 and January 2021.

<a href="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/corelogic_0.png"><img alt="" height="860" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/corelogic_0.png" width="1446"></a>

<a href="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/corelogic_0.png" target="_blank">Click here</a> to enlarge image.

As evident in CoreLogic’s data, Rouse Hill had a pre-pandemic median value at $726,900, which has fallen to just $638,755. While other suburbs like Arncliffe and Hurstville have seen changes in median value at -$31,185 and -$65,019, respectively.  

“As more of the housing market is caught in a broad-based upswing, first home buyers could face more challenges getting into the market in the year ahead”, Owen said. 
 

<h2>Sydney units listed at or below the qualifying threshold for the FHLDS 
</h2>

1. Beyond, Hurstville 
Address: 93 Forest Road, Hurstville NSW 2220 
One-bedroom apartments (with study) from $685,000

[smartcode_project:default project_id=6798]

Developed by Fridcorp, Beyond’s one-bedroom apartments are listed below the $700,000 qualifying threshold for the first home loan deposit scheme.  

The Woods Bagot and DKO Architecture-designed project features sculptural architecture, multi-sensory living, oversized balconies and a 4,500sqm retail precinct anchored by Woolworths. 
 

2. Bloom Arncliffe 
Address: 213 Princes Highway, Arncliffe NSW 2205 
One-bedroom apartments from $595,000

[smartcode_project:default project_id=6201]

The recently completed residential precinct, Bloom Arncliffe, offers 318 apartments across seven buildings, starting from $595,000 – well below the deposit scheme’s price cap.

Delivered by Wingate and designed by Stephen Bowers Architects, the development includes 37 commercial spaces, a youth centre, gym and support facilities.
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Recent value falls may have created an opportunity for first home buyers who want to take advantage of the first home loan deposit scheme

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The Sydney suburbs now qualifying for First Home Loan Deposit Scheme after price falls

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Australia’s residential property market has shown resilience, despite the shock of the coronavirus pandemic. However, impacted “pockets” of Melbourne have seen falling median values create opportunities for buyers, said CoreLogic head of research, Eliza Owen.

On February 3, minister for housing Michael Sukkar announced the reissue of around 1,800 first home loan deposit scheme (FHLDS) places.

“Recent value falls may have created an opportunity for first home buyers, where there is a maximum purchase price cap to qualify for the scheme”, Owen said.

As of January 2021, there was an average of 107 suburbs observed in the capital cities with a median value at or below the qualifying threshold for the FHLDS, assuming the application is for an established property.

In Melbourne’s inner-region, where median values have declined an average -$33,313 between March 2020 and January 2021, unit medians that have slipped below this threshold, providing the chance for first home buyers to secure a new home.

Melbourne’s property price caps for established units under the scheme sits at $600,000, where suburbs like Docklands, Brunswick and South Melbourne would normally not qualify.

As evident in CoreLogic’s data, revealing city suburbs where the median value fell below the established property price threshold since the onset of COVID-19, Docklands had a pre-pandemic median value at $645,924, which has fallen close to $50,000. Docklands' January 2021 median values are listed at $596,486.

<a href="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/corelogic.png"><img alt="" height="860" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/corelogic.png" width="1446"></a>

“As noted in previous research, the Inner region of Melbourne has seen particularly severe declines in rent and property values since the onset of COVID-19”, said Owen.

CoreLogic attributes this to Melbourne’s historically high exposure to housing demand from overseas migrants, such as international students, which has been significantly affected by the pandemic.  

“As more of the housing market is caught in a broad-based upswing, first home buyers could face more challenges getting into the market in the year ahead”, Owen said. 
 

<h2>Apartments in Melbourne listed below the qualifying threshold for the FHLDS</h2>

1. Folia, Doncaster 
Address: 59 Stables Circuit, Doncaster VIC 3108 
Two-bedroom apartments from $580,000

[smartcode_project:default project_id=22584]

With two-bedroom apartments priced from $580,000, Folia offers architecturally-designed homes below the qualifying threshold for the first home loan deposit scheme.

Designed and delivered by Mirvac, boasts a curved façade, rooftop conservatory and sustainable features, including a 70kWh solar panel array. 
 

2. Melbourne Quarter, Docklands 
Address: 628 Flinders Street, Docklands VIC 3108 
One-bedroom apartments from $458,000

[smartcode_project:default project_id=3459]

Home buyers can enjoy a one-bedroom, one-bathroom apartment for as low as $458,000 at Lendlease’s Melbourne Quarter.

Designed by the award-winning Fender Katsalidis, Melbourne Quarter offers residents CBD convenience, a hotel-style lobby, concierge and exclusive access to Club MQ, three whole floors of resort-style amenities. 
 

3. M-City, Clayton 
Address: 2106 Dandenong Road, Clayton VIC 3168 
Two-bedroom apartments from $540,800

[smartcode_project:default project_id=528]

Schiavello’s M-City offers 460 residences across four buildings at an entry price of $371,000 for a one-bedroom, one-bathroom residence.

Designed by Buchan Group, the apartments boast smart design features, private balconies and resort-style amenities, including a community childcare centre, outdoor pool and tennis court.
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Falling median values impacting “pockets” of Melbourne has created opportunities for first home buyers, says CoreLogic's Eliza Owen

The Melbourne suburbs now qualifying for First Home Loan Deposit Scheme after price falls

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The Federal Housing minister Michael Sukkar has announced that 1800 unused First Home Loan Deposit Scheme spots would be reissued this week.

They date back to the early days of the federal government’s scheme in January 2020.

The initial 10,000 spots were granted a 90-day extension to buy their desired first home on top of their original three months after COVID lockdowns made property hunting difficult.

Almost 1 in 5 of those spots were left unused, a government spokesperson told Domain this week.

The scheme allows singles earning up to $125,000 and couples earning up to $200,000 to borrow up to 95 per cent of a property’s purchase price without having to pay lender’s mortgage insurance.

Properties had to be below price thresholds, ranging from $475,000 in Brisbane to $700,000 for an existing property in Sydney.

The third tranche last October which was restricted to new homes only has seen just 4200 of the 10,000 slots taken up.
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Properties have to be below price thresholds, ranging from $475,000 in Brisbane to $700,000 for an existing property in Sydney.



1800 unused First Home Loan Deposit Scheme spots to be reissued

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<div>Deposit scheme scramble</div>
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<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>
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<div>The FHLDS potentially allows thousands of first homebuyers to buy using only a 5 per cent deposit. </div>
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<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>
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<div>New houses have been particularly popular for FHLDS applicants...more so than apartments and townhomes.  </div>
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<div>First homebuyer numbers had slowed in May, but now look set to retake decade highs.</div>
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<div>Meanwhile the New South Wales government looks set to have another crack at Build to Rent by offering land tax discounts.</div>
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<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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As announced by Prime Minister Scott Morrison during the 2019 election campaign, from 1 January 2020 eligible first home buyers will be able to enter the housing market sooner.
Up to 10,000 guarantees per year will allow eligible first home buyers to purchase a home with a deposit of as little as five per cent.
Applicants will be subject to a range of eligibility criteria, including taxable incomes of up to $125,000 per annum for singles and up to $200,000 per annum for couples in the previous year, they must be Australian citizens purchasing property in Australia and they must be taking out owner-occupied loans on a principal and interest basis. 
Properties purchased under the First Home Loan Deposit Scheme will be subject to regional price caps. 
Regional price caps will be set with a view to ensuring equitable access to the scheme across Australia.
The coverage of the guarantee will be broadly consistent with parental guarantee products offered by some lenders. The guarantee will remain in place until a loan is refinanced or the outstanding loan balance falls below 80 per cent of the property purchase price—whichever comes first.
Access to the First Home Loan Deposit Scheme will occur as part of the normal home loan application process, with limited additional effort for first home buyers being required when seeking a guaranteed loan, the assistant Treasurer and Minister for Housing, Michael Sukkar said.
The bill introduces amendments to the National Housing Finance and Investment Corporation Act 2018 to implement the First Home Loan Deposit Scheme and establish a new research function within the National Housing Finance and Investment Corporation.
The bill expands the National Housing Finance and Investment Corporation's functions to enable it to provide guarantees.
Sucker noted based on median household income and a 15 per cent saving rate (on before-tax income), it takes approximately eight years to save a 20 per cent deposit on a median priced home. 
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j.ballantyne1990-6AQqhLzZaK

How the First Home Loan Deposit Scheme guarantee will work 

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The extension of the First Home Loan Deposit scheme was confirmed in last night’s federal Budget with new property price caps.
The expanded scheme, initially announced on Saturday, will allow an extra 10,000 first-home buyers this financial year.
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“This builds on the 20,000 first home buyers we are helping to purchase a home this year,” Treasurer Josh Frydenberg said on Tuesday night.
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<div id="adspot-1x1_300x250-pos-2" class="ad">The scheme enables first-home buyers to get into the market with a deposit as low as 5 per cent, and avoiding lenders’ mortgage insurance, with the federal government acting as guarantor on the loans.</div>
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<table style="width: 261px;">
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<td colspan="3" width="261">FIRST HOME LOAN DEPOSIT SCHEME PRICE CAPS</td>
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<tbody>
<tr>
<td>State/Territory</td>
<td>Capital city/regional centre</td>
<td>Rest of state</td>
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<tr>
<td>NSW</td>
<td>$950,000</td>
<td>$600,000</td>
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<td>VIC</td>
<td>$850,000</td>
<td>$550,000</td>
</tr>
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<td>QLD</td>
<td>$650,000</td>
<td>$500,000</td>
</tr>
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<td>WA</td>
<td>$550,000</td>
<td>$400,000</td>
</tr>
<tr>
<td>SA</td>
<td>$550,000</td>
<td>$400,000</td>
</tr>
<tr>
<td>TAS</td>
<td>$550,000</td>
<td>$400,000</td>
</tr>
<tr>
<td>ACT</td>
<td>$600,000</td>
<td>N/A</td>
</tr>
<tr>
<td>NT</td>
<td>$550,000</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div>
Source: Housing Minister and Assistant Treasurer 
Initially Sydney first-home buyers wanting to buy needed to buy properties costing less than $700,000 with buyers in most of the rest of the state able to spend up to $450,000 to be eligible to buy under the scheme.
It was initially $600,000 for Melbourne buyers, $500,000 in the ACT and $475,000 for Brisbane buyers. 
But the Real Estate Institute of Australia president Adrian Kelly said the First Home Loan Deposit Scheme should be extended to all eligible buyers of all homes, not just new builds.
"Budget 2020 was an opportunity lost in helping more Australian's into their first homes," Kelly said.
HIA Managing Director Graham Wolfe said by increasing the number of people eligible for the First Home Loan Deposit Scheme by 10,000, focusing on new home builds, and raising the price thresholds, that the Government had "opened the door to a larger group of first home buyers." 
“An increase in the number of people that can apply for a place in the First Home Loan Deposit Scheme if they buy or build a new home and the $1.2 billion injection into the Supporting Apprentices and Trainees wage subsidy are major cornerstones in supporting jobs across the residential building industry," Wolfe said.
 
The national estate agency Ray White welcomed the expanded First Home Loan Deposit Scheme indicating it would boost apartment sales along with detached housing.
“Unlike the established market, apartment sales have been difficult this year, so this is a very welcome boost for this sector,” Ray White group managing director Dan White said.
“It will give first home owners a much better opportunity to get into new property which often focuses on inner city areas at affordable prices, appealing to a younger demographic.  
"Importantly, it will rebuild developer confidence to commence construction of apartment projects.”
The UDIA national president Simon Basheer said the property industry "can and must play a central role" in powering the nation’s economic revival – generating jobs, wages and activity up and down supply chains.
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“Housing and construction contribute 750,000 direct and indirect jobs to the nation, so it is well placed to fill the gap caused by border restrictions and slower population growth due to current immigration levels.
“UDIA applauds the decision to release a new tranche of 10,000 places under the First Home Loan Deposit Scheme that are dedicated to new housing construction.
“The addition of these places – as well as the adjustment of price caps to better reflect median house prices across our capital cities – will give the industry a shot in the arm and boost employment.
“Importantly, the scheme can work in tandem with the HomeBuilder initiative, and we hope the Government keeps an open mind on its extension as well ahead of the end of the year.
“Research commissioned by UDIA shows the fall in net overseas migration will result in an average per annum reduction of approximately 50,000 homes per year for the next 5 years.
“Efforts to tap domestic demand and keep jobs flowing across the housing construction sector will be essential to maintaining economic momentum until net overseas migration returns to more sustainable levels," Basheer said.
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The Urban Taskforce also welcomed the extended First Home Loan Deposit Scheme, but said more could be done while seeking an expansion of the HomeBuilder program too.
"Urban Taskforce re-iterates our call for changes to the HomeBuilder criteria," Urban Taskforce chief executive Tom Forrest said.
"Just as thresholds were adjusted state by state for the First Home Loan Deposit Scheme to include different thresholds for capital cities and areas outside each capital, the same thresholds should be applied to HomeBuilder. 
"Greater Sydney, including Newcastle, should have apply to a Homebuilder threshold purchase price of $950,000, and the timeframes should be extended by a further 18 months to make homebuilder relevant to apartments (which take longer to build)."
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jchancellor-FAypfDUnLy

New price caps unveiled in extension of the First Home Loan Low Deposit scheme

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New data shows the Morrison Government’s successful First Home Loan Deposit Scheme has helped get Australians into a home of their own up to four years earlier than they had planned.
The National Housing Finance and Investment Corporation (NHFIC) Trend and Insight Report, shows the Scheme had an outstanding first year.
The Report also found the Scheme supported one in eight of all first home buyers who purchased a home in Australia between March and June 2020.
Australia’s essential workers secured one in six of the Scheme’s guarantees and around three quarters of guaranteed loans were taken up by Australians aged between 18 and 34 years of age.
Guaranteed loans were secured in all parts of the nation with major cities attracting 62.3 per cent of buyers under the Scheme, while 37.7 per cent purchased in regional areas.
The largest amount of applications for guaranteed loans, 46.1 per cent, were made through mortgage brokers.
Almost 70 per cent of buyers using the Scheme purchased a detached house, with 25 per cent buying an apartment and five per cent purchasing a townhouse.
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One in eight FHB homes bought with First Home Loan Deposit scheme

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There's been a rush of applicants from first home buyers seeking to secure a spot to buy with a deposit of as little as 5 percent under the new Federal Government home loan deposit guarantee scheme.
That's not surprising, but there are plenty of spots still available.
Especially as 5000 spots became available on February 1 with the 25 non-bank and regional lenders including the Bendigo Bank, Australian Military Bank and Community First Credit Union. 
The number of applicants across Australia is capped at 10,000 every financial year, but as the initiative began on January 1, there will be the double opportunity during 2020, ie from July 1.
It has been reported that most of the opening 3000 spots have been taken, but many of these are really pencilled in reservations that won't ever see an actual purchase.
Those intending buyers already on the list with lenders will next need to get through the still onerous bank approval process.
And then they will need to find a suitably-price property within the ensuing 90 days.
That might just be difficult as it appears fresh 2020 listings are only slowing coming to market.
Even with 20,000 participants in 2020, it was always likely to be a squeeze as some 80,000 other FHBs will still need to find their own borrowing arrangements.
Sydney FHBs will need to find properties costing less than $700,000 under the scheme.
The same price cap will also apply to NSW regional centres with a population of 250,000 plus, namely Newcastle, Lake Macquarie and the Illawarra around Wollongong.
The scheme to be known officially as the First Home Loan Deposit Scheme (FHLDS) will available only to FHBs with an annual income of up to $125,000 or couples with a combined $200,000 per year who haven't saved the standard 20 percent deposit.
Prime Minister Scott Morrison and Treasurer John Frydenberg announced the scheme just days before the May 2019 election, when the property market was in a downturn.
The Prime Minister expressed concern the time it took to save a home deposit was one of the barriers to home ownership.
There is the real risk that competitive tension will see prices rise as FHBs expeditiously seek out their first step on the property ladder.
The National Housing Finance and Investment Corporation (NHFIC) is overseeing the scheme in a vastly different property market, at least in Sydney and Melbourne.
It needs to wise to market shifts and to smartly recommend adjustments so that its policy objectives are met.
<a href="http://ratecity.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=http://RateCity.com.au&amp;source=gmail&amp;ust=1580769830838000&amp;usg=AFQjCNFQhd3z8C9Xv2hFiUVsHTs_sYcZXA">RateCity.com.au</a> recently calculated a person buying a $500,000 property with a 5 per cent deposit instead of a 20 per cent deposit would need $75,000 less initially, but with a larger loan, their monthly mortgage repayments would be $329 extra a month and they would pay $43,000 in extra interest over 30 years, based on the rate of 3.32 per cent.
Corelogic researcher Eliza Owen noted paying more interest on a low deposit loan makes more sense "if property values are going up.
"By accessing a property sooner, the asset has longer to accumulate capital growth that may outweigh the higher level of interest paid." 
Sally Tindall, research director at RateCity, says buyers need to "go in with eyes wide open because it’s peppered with potential drawbacks."
Meanwhile ME Bank’s latest sentiment report, conducted last month, shows FHBs’ hopes haven’t been crushed by rising prices, with more than half planning to buy this year, compared to the 38 percent who were hopeful in late 2019.
This article first appeared in The Daily Telegraph.
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