<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Staff Writer

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

The Melbourne-based HLA Group is the latest developer to expand into South East Queensland, lodging plans for a unique mixed-use short-term accomodation and apartment building in Taringa, with the building design inspired by the Glasswing Butterfly.

The development application for 10 Morrow Street seeks approval for a total of 232 dwellings, comprising 116 residential apartments and 116 short-stay accommodation units. The build-to-sell residential component is made up of 31 one-bedroom apartments, 67 two-bedroom apartments, 17 three-bedroom apartments, and a single four-bedroom apartment, offering a diverse mix aimed at singles, couples, families, and downsizers.

<img alt="Taringa" data-entity-type="file" data-entity-uuid="33913cd4-9839-4456-b325-d35b3f8b4694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.26%E2%80%AFPM.png?VersionId=sLvc7jUrYzDwqPDZBPrXTosKHDSp.qrt" />

Designed by Ellivo Architects, the tower takes strong inspiration from nature, with the architectural language driven by one of Queensland’s most delicate species. As described in the planning documents submitted to Brisbane City Council, Ellivo Architects state the design is “inspired by the elegance of the Glasswing butterfly," and mirrors the graceful sweep of its wings, a form that feels light, fluid, and alive.

“Lush subtropical greenery is throughtfull woven throughout, transforming the building into a sanctuary in the heart of the city.”

The proposal positions the building as more than a conventional residential tower, with Ellivo Architects describing 10 Morrow Street as “an urban oasis that blends short term accomodation with residential living. A destination for rest, relaxation, and renewal.”

<img alt="Taringa" data-entity-type="file" data-entity-uuid="84e9a0ff-464e-4973-bffe-5d5a8fe9f087" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.32%E2%80%AFPM.png?VersionId=dhX9eVgUaQE2TvCzJPhF8N8_hzYSKpyK" />

Formally, the building’s massing and floorplate are directly shaped by its butterfly inspiration. Ellivo explain that, “adopting the wings of the Glasswing Butterfly, the tower's plan is divided into four distinct quadrants, each shaped to mirror the wing's segmented geometry and taking the slender ‘veins’ up the facade of the tower.”

"This approach results in a sculpted tower form with articulated façades and a strong vertical expression."

<img alt="Taringa" data-entity-type="file" data-entity-uuid="5947011d-ff6c-4a57-bdc1-9072a472a79c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.29%E2%80%AFPM.png?VersionId=nnGqd4WCZM8AOJZY.c3u49BO4LurKRhb" />

The Assessment Report by Human Habitats said the 19-storey tower capitalises on its strategic connectivity and prominence at the entrance of Taringa Village and adjoining the Taringa Station.

"The proposal offers a significant revitalisation of the subject site that integrates architectural excellence, innovation, and sustainable design to directly address long-standing connectivity and safety challenges, housing supply , and diversity together with enhanced streetscape activation and convenient access to major transport corridors."

HLA Group Australia is registered to South Yarra and is currently delivering Adamson No.5, just 15 luxury apartments that start from around $2 million.&nbsp;

The Butterfly Effect: Glasswing butterfly inspires Taringa apartment development

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.

&nbsp;

[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>. 
&nbsp;

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

max.kwok_55688

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>
<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>
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<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>
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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>
<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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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-pos-5" class="ad" data-google-query-id="CKSS6u_eoOwCFVAT1QodLR4FjA">
<div id="google_ads_iframe_//31694718/domain.com.au/news_0__container__"><iframe title="3rd party ad content" name="google_ads_iframe_//31694718/domain.com.au/news_0" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" width="1" height="1" data-google-container-id="1" data-load-complete="true" data-integralas-id-d0adcd36-d763-a453-eed1-bdf01d142228=""></iframe></div>
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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;">
<thead><tr>
<td colspan="3" width="261">FIRST HOME LOAN DEPOSIT SCHEME PRICE CAPS</td>
</tr></thead>
<tbody>
<tr>
<td>State/Territory</td>
<td>Capital city/regional centre</td>
<td>Rest of state</td>
</tr>
<tr>
<td>NSW</td>
<td>$950,000</td>
<td>$600,000</td>
</tr>
<tr>
<td>VIC</td>
<td>$850,000</td>
<td>$550,000</td>
</tr>
<tr>
<td>QLD</td>
<td>$650,000</td>
<td>$500,000</td>
</tr>
<tr>
<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.
</div>
</div>
</div>
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)."
</div>
</div>
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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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