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

Joel Robinson

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

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

Harmony on Broadbeach launches to booming Gold Coast suburb

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

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

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

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

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

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