Kensington and Kingsford, two of Sydney's most connected inner-east suburbs, are about to become even more accessible with Randwick City Council's K2K Plan.

The K2K Plan aims to revitalize the <a href="https://www.urban.com.au/developments/kensington-nsw-2033">Kensington</a> and Kingsford Town Centres, while also enhancing bus services, creating new cycleways, and improving pedestrian infrastructure along Anzac Parade.

The plan will also introduce new public parks and upgraded retail and hospitality venues, boosting local economic activity and making these two suburbs even more desirable places to live.

Several developments are currently underway in the corridor, with Scape and Unilodge bringing student accommodation to the area bordering UNSW.

Renowned builder-developer <a href="https://www.urban.com.au/developers/toga-group">TOGA</a> is one of the few developers offering new apartments for sale. Their under-construction building, The Kensington, located opposite the Kensington Light Rail stop, will feature 142 apartments above seven new retail and hospitality spaces, just two stops from Moore Park and four stops from Central Station.

TOGA has built a strong reputation for creating well-connected communities with doorstep amenities. They recently completed Wicks Place in Marrickville, which includes four specialty shops, while their Surry Hills Village development is integrated with the thriving hospitality precinct of Wunderlich Lane and Sydney's first Eve Hotel.

[smartcode_project:default project_id=110959 project_image_fid=307652]

TOGA chose to develop in Kensington for the same reasons they chose Surry Hills and Marrickville: excellent public transport connections, doorstep amenity, and a wealth of employment opportunities, particularly in the growing health precinct in neighboring Randwick. This combination of factors, as well as significant higher education institutions nearby,&nbsp;has made <a href="https://www.urban.com.au/new-apartments/the-kensington-147-151-anzac-parade-kensington">The Kensington</a> highly appealing to a diverse range of residents including students, professionals, and young families. Investors, who are rarely seen in today’s new apartment market, have also shown interest, expecting strong rental demand.

With the current low supply of new apartment developments across Sydney, particularly in Kensington, there is a unique opportunity to secure long-term growth in a suburb that is set to continue growing in demand.

Rate changes have already sparked renewed demand in the new apartment sector, with increased confidence that further rate cuts will occur in 2025 and 2026.

The Kensington, being built by 4.5 iCIRT-rated builder DASCO, is scheduled for completion in early 2026, when the official cash rate is expected to be closer to 3.5 per cent rather than above four per cent.

[smartcode_project_cta:default project_id=110959]

Joel Robinson

The K2K Plan to transform Kensington and Anzac Parade corridor

Builder-developer giant Bathla, one of the largest construction and development companies in Western Sydney, has launched its under-construction townhouses development, <a href="https://www.urban.com.au/new-townhouses/hillview-terrace-north-kellyville-3-23-hillview-road-north-kellyville-nsw-2155">Hillview Terrace</a>&nbsp;in <a href="https://www.urban.com.au/developments/north-kellyville-nsw-2155">North Kellyville</a>.

Bathla has already kicked off the build of the 110 two, three and four-bedroom townhouses which sit in a quiet pocket of the suburb between Smalls and Cattai Creek.

<img alt="Hillview" data-entity-type="file" data-entity-uuid="935f8701-9f49-4519-8ebb-5ec6969523f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-03-17%20at%201.26.50%E2%80%AFPM.png?VersionId=eAa3x7Qyp7BcFfIumewidQrEpf98qR9K" />

Bathla has nearly 30 years experience delivering homes across Western Sydney, having completed over 22,000 apartments across 58 suburbs since being founded in 1997.&nbsp;

"Hillview Terrace is a prime example of our dedication to improved excellence in residential development," said Robert Loader, Bathla CEO.

"As both the developer and builder, we ensure every stage of the process meets our high standards, from design to construction and final delivery. Buyers can have complete confidence in the quality of this project."

Hillview Terrace residences have been designed to suit both owner-occupiers and investors, with a range of floorplans and configurations not often seen in the townhouse market.

<img alt="Hillview" data-entity-type="file" data-entity-uuid="ca27bf40-cd2b-457f-8f23-d65259d3890f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-03-17%20at%201.26.40%E2%80%AFPM.png?VersionId=6ZVOPvKPXL7XIVmFT1fxFxF500d3xCrZ" />

Colliers has been engaged to lead the sales and marketing campaign.

"Colliers is proud to bring Hillview Terrace to market, showcasing Bathla’s ongoing commitment to delivering homes that enhance both individual lifestyles and community growth," said Luke Hayes, Colliers Project Marketing Director.

[smartcode_project_cta:default project_id=149513]

Bathla launches Hillview Crescent, North Kellyville townhouse development

The <a href="https://www.urban.com.au/developments/gold-coast-qld">Gold Coast</a> has long been one of Australia’s most popular holiday destinations. It had sun, sand, surf, and Surfers Paradise, the epicentre of the action. It was lined with skyscrapers that rivalled anywhere in the southern hemisphere for height. Even today, there’s nowhere in Australia, and arguably the world, with towers of that scale so close to the sand.

Apartments were made for investors and holidaymakers who would snap them up every weekend all year round. It was an arrangement that suited everyone. But with that arrangement came a moniker. The Gold Coast became a ‘boom-bust market’. For the growth the market would see, there were equal busts.

Caitlin Rosenboom, Head of Projects for Ray White on the Gold Coast, says the Gold Coast property markets were heavily influenced by external factors it essentially couldn’t control.

“Because the Gold Coast was traditionally always a holiday destination, the type of apartment built was for that,” Rosenboom says. “But when the economy wobbled, like it has at certain points over the last few decades—such as during the GFC—the Gold Coast market was impacted more than anywhere else. The first thing to go in an economic downturn is the secondary residence, and proportionally, the Gold Coast was well skewed toward those properties.”

Rosenboom said it then became a fight to the bottom. “Once one person, whose hand was forced to sell, sold, then it reset prices in a negative way. Then there would be floods of listings and little demand, which put incredible downward pressure on pricing.”

Indeed, during the GFC, data from Ray White showed house prices across the Gold Coast region declined by around nine per cent across 2010 and 2011 combined, just a little more than the eight per cent for units. But looking more granularly, the picture was a bit different.

Since then, however, the Gold Coast has truly rid itself of its so-called boom-bust reputation. 
From the start of 2012 to the end of 2020, house values rose by over 56 per cent, showing growth in every calendar year apart from 2018, when prices contracted by just one per cent. It was the same story for units over the same period, albeit with slightly more modest 30 per cent growth, and also with a minor one per cent dip in 2012, which houses didn’t experience.

“The Gold Coast has really matured as a region over the last decade,” Rosenboom said on the property market growth.

“It became more and more attractive as a place not only to holiday but to live. Better, larger apartments were being built, alongside an increased level of infrastructure upgrades and investment.”

The Gold Coast was certainly a region on the up and up. However, uncertainty reigned once again in 2020 as the COVID-19 pandemic shut down the country, locking both international and state borders.

The fear of another economic downturn, much like the GFC, could have put the Gold Coast in a problematic position, with a lack of tourism driving the economy. In the end, it was the opposite.

The way the Queensland Government handled the pandemic was broadcast around the country. Gold Coast locals were still on the waves, enjoying coffee on the beach, and living life, while Melburnians weren’t allowed out of their houses, and Sydneysiders weren’t much better off. 
The race was on for those southern capital city dwellers to rush to the Gold Coast.

“The pandemic changed everything,” Rosenboom said. “A lot of people who lived in Sydney and Melbourne made the move for what they considered almost to be a secondment to another part of Australia. The vast majority hadn’t been to the Gold Coast before, or not since they were kids coming on holiday. When they realised how far the Gold Coast had come, no longer just a big holiday resort, most never left.”

Over the 12 months from June 2022 to June 2023, the Gold Coast gained nearly 20,000 people, accounting for 13 per cent of the migration to the whole of Queensland. The property market became one of the best-performing in the country as the demand v supply equation was heavily skewed toward the demand side. New apartment developments that came to market over 2021 and 2022 would spend less than a few weeks online before being sold out. Prices were both unrealistic and realistic at the same time.

Then came another potential bump in the road. The borders reopened, and employees had to show their face in the office, albeit just a few days a week. Would this be the start of the decline the Gold Coast property market hadn’t felt in a decade? In short, no. No, it wasn’t.

Much to the surprise of most in the property industry, growth continued. Another stellar growth cycle in 2023 and 2024 saw house prices rise by 57 per cent in the four years to December 2024, the same growth they saw in double the time up to 2024. Units boomed by 57 per cent too over the four years to the end of 2024, almost double the 30 per cent in the eight years prior.

“The Gold Coast is no longer a holiday destination but a lifestyle destination,” Rosenboom said. 
“The pandemic shone a light on everything locals already loved about the Gold Coast. We have gone from being dominated by holiday lets to an owner-occupier-driven market due to the increased infrastructure, medical facilities, industry, and employment opportunities.”

Rosenboom has seen a mix of buyers at ARC Residences, the luxury tower on Garfield Terrace, considered the best street in Surfers Paradise, given it’s the only one that faces the beach.

[smartcode_project:default project_id=111652 project_image_fid=257250]

A few Sydneysiders, locals from the northern Gold Coast suburbs like Hope Island and Helensvale, as well as a couple of overseas buyers, have all staked their claim in the building of just 37 half- and full-floor apartments with an oceanfront pool, gym with yoga room and infrared sauna, and a cinema, along with a suite of other amenities that are more common in a luxury hotel.

Rosenboom believes there’s no reason why the Gold Coast market should take a step back at all. “We’re now in an interest rate environment where they are only going down and not up, which tends to fuel further increases in price.”

All of the pent-up demand is even without taking into account the 2032 Brisbane Summer Olympics, and the G:LINK light rail extends all the way down to the airport and Coolangatta, essentially connecting the whole of the Gold Coast. If the response to the light rail is anything like Sydney’s, then values are in for one hell of a ride.

[smartcode_project:default project_id=111652 project_image_fid=257251]

Ray White Senior Economist Nerida Conisbee echoed Rosenboom’s sentiment, suggesting the economic stability the Gold Coast now has, with the shortness in supply, scarcity of land, and in particular, the rapid expansion of its population. 
 
“The influx of nearly 20,000 new residents in a single year is a testament to the Gold Coast's appeal, offering a combination of lifestyle, employment opportunities, and relative affordability compared to other major Australian cities,” Conisbee says, adding, however, that this huge increase in population is putting pressure on the housing market.

“Despite the positive outlook, the Gold Coast faces significant challenges in accommodating its projected growth. The shortage of land means that the city will need to embrace higher-density development to house its expanding population.”

“A lifestyle destination rather than a holiday destination” Why the Gold Coast is now more boom than bust

South East Queensland Developers Keylin and Kinstone Group have captured the attention of homebuyers on the northern end of the Gold Coast with their standout waterside masterplan, Lakeside Serenity 4212.

The joint venture partners had a vision for <a href="https://www.urban.com.au/new-townhouses/serenity-lakeside-villas-helensvale-6-lake-serenity-boulevard-helensvale-qld-4212">Lakeside Serenity 4212</a>, a 65-hectare masterplan on the shores of Coombabah Lake, to become one of the best waterfront communities in the Gold Coast.

[smartcode_project:default project_id=149142 project_image_fid=324627]

Since the first launch of homes in 2020, there have been consistent stage sellouts, as well as a 2023 UDIA Queensland Award for Excellence in Boutique Development.

Tony Ashwin has been selling the homes in the masterplan since its inception. He says the masterplan fills a void where there is a real scarcity of waterfront land.

“The northern suburbs of the Gold Coast are in extremely high demand,” Ashwin says, highlighting that Helensvale is central to this growth.

“It’s the only Gold Coast suburb with both heavy and light rail connections, offering residents easy access to Brisbane and the rest of the Gold Coast.”

Having sold out the Serenity Waters waterfront lots and the Serenity Green townhouse community, Keylin and Kinstone Group have now released the next stage of development.

The latest offering, Lakeside Serenity 4212 Waterfront Villas, includes just 16 exclusive, absolute waterfront villas. Each villa faces north, providing direct access to the water and a private pontoon, with the Lake Serenity lock system offering direct access to the Broadwater.

[smartcode_project:default project_id=149142 project_image_fid=324629]

Designed by MAS Architecture, the villas feature open-plan living spaces, soaring ceilings, floating staircases, and strategically placed windows that enhance the sense of space while maximizing natural light and uninterrupted lake views.

Each villa has four bedrooms, two living areas, and a double garage. The kitchens serve as the centerpiece, with premium natural stone benchtops, large island benches, butler’s pantries, and integrated Smeg appliances. The master suites feature walk-in robes, freestanding bathtubs, and private balconies overlooking the lake.

[smartcode_project:default project_id=149142 project_image_fid=324623]

Ashwin points out that the Gold Coast’s medium to low-rise market is currently undersupplied, making Lakeside Serenity 4212 Waterfront Villas particularly appealing.

“Serenity meets the demand for high-quality, medium to low-rise homes,” Ashwin says.

There has been significant interest from both local downsizers and Brisbane residents looking for a second home. They are drawn to the excellent connection to Brisbane while wanting to spend the majority of their time on the Coast.

“The link between Brisbane and Helensvale is unrivaled, and it’s a connection that no other suburb can beat,” Ashwin adds.

[smartcode_project:default project_id=149142 project_image_fid=324625]

Additionally, the upcoming Coomera Connector will improve access between the northern suburbs and Broadbeach. The Cross River Rail Project, which will add a new train station in Helensvale (just 8 kilometers from Serenity), will further improve regional accessibility.

Ashwin notes that supply in the northern Gold Coast suburbs will remain tight.

“The Queensland Government’s build program for the 2032 Brisbane Summer Olympics will limit residential supply, especially in the medium to low-rise markets,” he explains.

Lakeside Serenity 4212 is already an established community with additional developments in the pipeline including a premium, low-rise apartment offering and future retail precinct.&nbsp;

Resort Homes, one of the most reputable builders in the northern Gold Coast, has begun construction on the Lakeside Serenity 4212 Waterfront Villas and expects to complete the project in Q3 this year.

&nbsp;

High demand and limited supply in Northern Gold Coast drives buyers to Helensvale's Lakeside Serenity Villas

The Federal Government’s latest announcement of a temporary two-year ban on foreigners purchasing existing housing in Australia has led to some confusion about its impact.

Under the&nbsp;updated FIRB regulations, foreign buyers can&nbsp;still purchase off the plan properties and newly completed dwellings without being affected by the revised rules.&nbsp;

The new regulation, effective from 1 April 2025, will prevent temporary residents from purchasing established houses. This change is intended to support the creation of new housing by redirecting demand towards new apartments and houses, which will see further demand channelled towards key off-the-plan markets.&nbsp;

Colliers Managing Director, Victoria | Residential, Tim Storey, said they expect the effects of this policy change will surprise on the upside, especially for developers of new apartments in Melbourne who will now have a larger pool of buyers.

“This policy is a positive step towards addressing the housing supply issue in Australia. By encouraging the purchase of new dwellings, we are also supporting the construction industry," Storey said.

According to the latest available statistics, foreign buyers have purchased an annual average of only 1,291 established homes over the past three years, representing just 0.24 per cent of overall housing market sales. &nbsp;

Significantly, Victoria has consistently attracted the highest levels of foreign buyer activity across all categories, accounting for 45 per cent of purchases across Australia over the past three years. This trend is expected to continue, benefiting developers in the state.&nbsp;

“The updated FIRB regulations combined with the Reserve Bank of Australia’s recent announcement of a cash rate cut, which lenders have passed through, create a more favourable environment for new housing developments," Storey added.

"Developers should see this as an opportunity to meet the growing demand for new dwellings. This change ensures that the market for off-the-plan properties remains robust and continues attracting foreign investment."

FIRB regulations to drive foreign buyers to new apartment development market

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Urban Editorial

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

A number of people ask - what is the settlement process when buying off the plan property?

The simple answer is that the process is one part of the off the plan buying journey that isn't too dissimilar to buying in the established market.

The major difference is the time from exchange to settlement, given the off the plan property isn't built yet. The standard settlement for established property is around six to eight weeks.

This however has a number of pros for off the plan buyers.

One of the biggest is that the price paid for the property at the time of exchange doesn't change. Even if the value of the apartment has risen during construction, buyers will still settle on their apartments at the same price agreed.

The settlement date will be forecasted in the contract, as to when the developer believes the building will be complete, and the certificate of occupancy is obtained. Then settlement can start to occur and buyers can move in.

The settlement date forecast is another pro for buyers. While this date can chop and change due to a number of reasons, least of all delays in construction, labour, and materials, it gives the buyer a ballpark future date where they need to have their finances in shape to settle.

By paying a deposit you lock in that price, and you might not be required to pay the rest of the deposit for two or three years, if the construction timeline is that far away. This allows buyers years to save up the rest of the money while their yet-to-be-built property potential grows in value.

The settlement date estimate also puts a time limit on buyers as to when they should either vacate their current rental, or put the wheels in motion to sell their current home.

If you're thinking of purchasing an off the plan apartment, it's a good idea to speak to a conveyancer or solicitor who can advise you on the settlement process and help ensure that everything goes smoothly.

A number of people ask - what is the settlement process when buying off the plan property?

Off the plan property settlement - how does it work?

Arguably floor plans matter more in off the plan property than any other type of property.

In established markets, the floorplan is the floor plan. That's it, barring renovations.

But in the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers when discussing buying an off the plan property.

First there's the floor plan size.

Floor plan sizes advertised by agents or developers can differ hugely state by state, so it's important to understand whether you are being pitched a property's internal size, or total size.

Internal size is the measurement of the internal floor area of an apartment, and is typically measured in square metres (m²). External size is the measurement of the external dimensions of an apartment, be it a courtyard or a balcony, but sometimes it can include a parking space or storage cage.

Generally, off the plan apartments are advertised with their internal size, as this is the size that you will have to work with when furnishing and decorating your new home. It's important to be aware of external size, however, as this will give you an indication of the overall size of the building and how much outdoor space you will have access to.

When considering internal vs external size, it's important to keep in mind that internal size may vary slightly from the advertised size due to the internal walls of the apartment. External size, on the other hand, is usually accurate to the advertised size as it's based on the overall dimensions of the building.

Another thing to consider when analyzing floor plans in off the plan property is that floor plans aren't necessarily set.

The majority of developers, providing construction is still at its early stages, will allow buyers to customize their floor plan to suit their lifestyle.

It might be that you want to move a bedroom or bathroom, or re-orientate the living area. This generally isn't a problem for developers as long as the moving of internal walls doesn't impact the building structurally, and the redesign all occurs within the same floor plate size of the original apartment.

In the off the plan market, there a number of factors to consider when analyzing floor plans, and a number of questions to ask agents and developers

How to read a floor plan, what questions to ask, and why it's important for off the plan property buyers

Purchasing an off the plan property is a very different prospect compared to buying an established property.

Everything about the process is different. For starters, the property isn't even built when you agree to purchase.

Given the added complexity of purchasing an off the plan apartment, the contracts drawn up between developer are also more complex.

We've wrapped up the top seven things to look at when reviewing an off the plan contract.*

<h1>1. &nbsp;What is an off the plan contract?</h1>

An off the plan contract is a contract between a buyer and developer for the purchase of a property that has not yet been built. The contract sets out the terms and conditions of the sale, including the price, deposit amount, settlement date, and any special conditions that apply.

<h1>2. &nbsp;Why is off the plan property popular?</h1>

Off the plan property is popular because it offers buyers the opportunity to purchase a property at today's prices but settle at a later date when the property is completed. This can be advantageous for buyers as it allows them to lock in a price before construction costs increase.

<h1>3. &nbsp;What should I look for in an off-the-plan contract?</h1>

When reviewing an off-the-plan contract, there are several things that you should look for:

- The price: Make sure that you're happy with the price that has been agreed upon and that it is in line with similar properties in the area. 
 
- The deposit amount: Check that you're comfortable with the deposit amount and that it is refundable under certain conditions (e.g., if construction doesn't commence within a certain timeframe). 
 
- The settlement date: Ensure that you're aware of when settlement will take place and whether there are any conditions attached to this (e.g., construction must be completed by a certain date). 
 
- The cooling-off period: Make sure you understand your cooling-off rights and how long you have to change your mind after signing the contract.&nbsp;

<h1>4. What happens if I change my mind after signing an off–the–plan contract? &nbsp;</h1>

If you have signed an unconditional contract, generally speaking, you cannot change your mind about buying the property without incurring some sort of penalty e.g., losing your deposit. 
 
However, if your contract contains a waiver clause or sunset clause , then these may give you some flexibility in changing your mind without being penalised.

<h1>5. What is a waiver clause?</h1>

A waiver clause essentially states that if certain conditions aren’t met by a given date (usually completion of construction), then you as the buyer are released from your contractual obligations. 
 
For example, if construction isn’t completed within two years from when contracts were exchanged, then buyers may be able to walk away from their purchase without losing their deposit . &nbsp;

<h1>6. What is a sunset clause?</h1>

A sunset clause works in a similar way to a waiver clause in that it releases buyers from their contractual obligation if certain conditions aren’t met; however, as opposed to being linked to completion of construction, a sunset clause is usually linked to obtaining development approval from council. 
 
So, if council approval isn’t granted within 12 months from when contracts were exchanged, then buyers may be released from their purchase obligation. &nbsp;

<h1>7. Will I still need to pay stamp duty on an off the plan property?</h1>

In most cases, yes – even though settlement hasn’t taken place yet , stamp duty will still need to be paid at the time of exchange. 
 
However, there are some jurisdictions where payment of stamp duty may be deferred until settlement takes place e.g., Victoria and Queensland.&nbsp;

*Disclaimer - this should not constitute legal advice and you should always speak to a lawyer when executing property contracts.

Given the added complexity of purchasing an off the plan apartment, the contracts drawn up between developer and purchaser differ greatly also compared to buying an established property.

The top seven things to look for when reviewing an off the plan property contract

In a bid to boost homeownership among first home buyers in Australia, the government has allocated funds to supply grants to eligible property seekers.

To unlock the financial incentives, there is a set of criteria which must be met, and this varies state-to-state. Here&#39;s an outline of what may be required to meet the eligibility criteria:

<h2>Victorian&nbsp;First Home Owner Grant</h2>

In Victoria, eligible first home buyers could receive $10,000 through the First Home Owner Grant.&nbsp;

The rules:

1. The property must be less than $750,000 and it cannot be an investment property or holiday home. 
2. You or your partner must be using the grant for the first time 
3. You can&#39;t have already owned a property before 
4. You need to be over 18 years of age 
5. You must also be an Australian citizen or permanent resident 
6. Penalties and interest will apply if you receive the First Home Owners Grant and are not entitled to it

You can find more detailed information on the <a href="https://services.dffh.vic.gov.au/stamp-duty-concession ">Revenue VIC website.</a>

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<h2>New South Wales First Home Owner Grant</h2>

First home buyers who are buying a property in New South Wales may be eligible for the First Home Buyers Assistance Scheme and the First Home Owner Grant for new homes ($10,000).&nbsp; 
The First Home Buyers Assistance Scheme is a full or partial exemption of stamp duty.&nbsp;

The rules:

1. The value of the home must be no more than $1,000,000&nbsp; 
2. You, or at least one person you&#39;re buying with must be an Australian citizen or permanent resident&nbsp; 
3. You must be at least 18 years old 
4. The funds are for buying an existing home, a new home or vacant land to build a new home on 
5. You must not have already owned a property or received funds through the scheme previously

The First Home Owner Grant is for brand new properties, which includes all Mirvac off-the-plan homes. With this grant, you could receive $10,000 towards the purchase price in addition to the First Home Buyers Assistance Scheme.&nbsp;

The rules:

1. The home must be brand new and be worth no more than $750,000 
2. You must be at least 18 years old 
3. You also need to be an Australian citizen or permanent resident of Australia 
4. You must be buying or building your first home that no one has lived in before

You can find more detailed information on the <a href="https://www.revenue.nsw.gov.au/grants-schemes ">Revenue NSW website.</a>

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<h2>Queensland&nbsp;First Home Owner Grant</h2>

Eligible first home buyers looking to buy in Queensland are also able to receive a grant of $15,000 towards a new home.

The rules:

1. For new home contracts, first home buyers in Queensland may be eligible for a grant of $15,000 towards buying or building a new house, unit or townhome valued at up to $750,000.&nbsp; 
2. Applicants for this grant must be over 18 
3. You must also be an Australian citizen or permanent resident&nbsp; 
4. The home must be brand new.&nbsp; 
5. You&#39;ll also need to purchase with the intent of living in the property as your primary place of residence for six months after settlement.

You can find more detailed information on the <a href="https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/concessions-on-transfer-duty/concessions-for-homes ">Revenue QLD website.</a>

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<h2>Western Australia&nbsp;First Home Owner Grant</h2>

In Western Australia, eligible first home buyers could receive $10,000 for a new home.&nbsp;

The rules:

1. The property must be your permanent place of residence for at least six months, within 12 months of settlement 
2. It must be your first property 
3. It must be your first time receiving the grant 
4. The applicant must be an Australian citizen or permanent resident

You can find more detailed information on the&nbsp;<a href="https://www.housing.wa.gov.au/housingoptions/homeownershipoptions/firsthomebuyers/stampduty/pages/default.aspx ">Revenue WA website.</a>

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<h2>South&nbsp;Australia&nbsp;First Home Owner Grant</h2>

First home buyers in South Australia may be eligible for up to $15,000 towards the purchase or construction of a new home.

The rules:

1. The market value of the property must be $575,000 or less 
2. Applicants must be 18 years of age or older 
3. At least one applicant must be an Australian citizen or permanent resident 
4. The grant is for a brand new home which has not be lived in previously 
5. You can&#39;t have owned a home previously 
6. Each applicant must reside in the home as their principal place or residence for a continuous period of 6 months

You can find more detailed information on the Revenue SA website: https://www.revenuesa.sa.gov.au/taxpayer-stories/first-home-buyer&nbsp;

<h2>Northern Territory First Home Owner Grant</h2>

First home buyers in Australia&#39;s Northern Territory may be eligible for a $10,000 grant towards their first property purchase.

The rules:

1. The property must be new and not previously lived in 
2. Must be 18 years or older 
3. At least one applicant must be an Australian citizen or permanent resident 
4. Applicants must not have received the grant previously or owned property prior to applying for the grant

You can find more detailed information on the <a href="https://nt.gov.au/property/home-owner-assistance ">Revenue NT website.</a>

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<h2>MIRVAC | FIRST HOME BUYER HUB</h2>

How do I go about buying my first home?

If this is a question you find yourself asking, use the&nbsp;Mirvac&nbsp;First Home Buyers checklist to learn the 11 key steps in the buying process for first home buyers.

<h2><a href="https://firsthome.mirvac.com/?utm_source=urban&amp;utm_medium=organic">Complete the Quiz*</a></h2>

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Important note: The information in this article is general information only and has been prepared without taking into account your personal circumstances. While every care has been taken to ensure the accuracy of the information, Urban cannot be held liable for any inaccuracies, errors or omission.

The information in this article does not constitute legal, tax or financial advice and you should always seek professional advice before purchasing property in relation to your individual circumstances.

In a bid to boost homeownership among first home buyers in Australia, the government has allocated funds to supply grants to eligible property seekers. To unlock the financial incentives, there is a set of criteria which must be met, and this varies state-to-state. Here's an outline of what may be required to meet the eligibility criteria.

urban.com.au

Criteria for obtaining the First Home Owners Grant

Every $1000 makes a significant impact when it comes to buying property, which is why being aware of the savings and grants you may be eligible for is vital. Financial initiatives to boost first homeownership varies state-to-state; however here&#39;s a round-up of some of the grants the could be available to buyers in the four states Mirvac have master-planned communities.&nbsp;

<h2>New South Wales First Home Buyers&nbsp;</h2>

First home buyers who are buying a property in New South Wales may be eligible for the First Home Buyers Assistance Scheme and the First Home Owner Grant for new homes.&nbsp;

The First Home Buyers Assistance Scheme is a full or partial exemption of stamp duty. The value of the home must be no more than $1,000,000, and to qualify you must be an Australian citizen or permanent resident and at least 18 years old.&nbsp;

The First Home Owner Grant is for brand new properties, which includes all Mirvac off-the-plan homes. With this grant, you could receive $10,000 towards the purchase price in addition to the First Home Buyers Assistance Scheme. The home must be brand new and be worth no more than $750,000.

You can find more detailed information on the <a href="https://www.revenue.nsw.gov.au/grants-schemes">Revenue NSW website.</a>&nbsp;

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<h2>Victorian First Home Buyers</h2>

In Victoria, eligible first home buyers could receive $10,000 through the First Home Owner Grant. The property must be less than $750,000 and it cannot be an investment property or holiday home. When buying a brand new home, you may be eligible for a stamp duty exemption for a property where the dutiable value is up to $600,000. Dutiable value is the price paid for the property or market value (whichever is greater) including any GST. As a first home buyer, you may also be eligible for the Principal Place of Residence concession (PPR) if you intend to live in the home for a year within 12 months of settlement.&nbsp;

You can find more detailed information on the <a href="https://services.dffh.vic.gov.au/stamp-duty-concession ">Revenue VIC website.</a>

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<h2>Queensland&nbsp;First Home Buyers</h2>

For new home contracts, first home buyers in Queensland may be eligible for a grant of $15,000 towards buying or building a new house, unit or townhome valued at up to $750,000. Applicants for this grant must be over 18, Australian citizens or permanent residents and the home must be brand new. You&#39;ll also need to purchase with the intent of living in the property as your primary place of residence for six months after settlement.

You can find more detailed information on the <a href="https://www.qld.gov.au/housing/buying-owning-home/advice-buying-home/transfer-duty/how-much-you-will-pay/concessions-on-transfer-duty/concessions-for-homes ">Revenue QLD website.</a>

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<h2>Western Australian&nbsp;First Home Buyers</h2>

In Western Australia, eligible first home buyers could receive $10,000 for a new home. The property must be your permanent place of residence for at least six months, within 12 months of settlement.&nbsp;

You can find more detailed information on the <a href="https://www.housing.wa.gov.au/housingoptions/homeownershipoptions/firsthomebuyers/stampduty/pages/default.aspx ">Revenue WA website.</a>

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<hr />
<h2>MIRVAC | FIRST HOME BUYER HUB</h2>

How do I go about buying my first home?

If this is a question you find yourself asking, use the&nbsp;Mirvac&nbsp;First Home Buyers checklist to learn the 11 key steps in the buying process for first home buyers.

<h2><a href="https://firsthome.mirvac.com/?utm_source=urban&amp;utm_medium=organic">Complete the Quiz*</a></h2>

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&nbsp;

<hr />
Important note: The information in this article is general information only and has been prepared without taking into account your personal circumstances. While every care has been taken to ensure the accuracy of the information, Urban cannot be held liable for any inaccuracies, errors or omission.

The information in this article does not constitute legal, tax or financial advice and you should always seek professional advice before purchasing property in relation to your individual circumstances.

Every $1000 makes a significant impact when it comes to buying property, which is why being aware of the savings and grants you may be eligible for is vital. Financial initiatives to boost first homeownership varies state-to-state; however here's a round-up of some of the grants the could be available to buyers in the four states Mirvac have master-planned communities.

Property purchase concessions and grants: How much could you save on your first Mirvac property?

Often the coveted suburbs to buy a home are some of the priciest &ndash; which means buyers with a lower budget generally begin to look further afield to get on the property ladder.

Sometimes buyers luck out, purchasing a property in a less popular area where the median house price is relatively low.

Over time, suburb population grows and local businesses arise often driving demand for residential property.

We&#39;ve mapped out a few of the key features to look for in a burgeoning suburb.

<h2>Planned infrastructure upgrades</h2>

Familiarise yourself with each local council&#39;s planning applications and pipeline of infrastructure upgrades.

Often when money is invested in a suburb, it adds to the desirability of the area. Note that timeframes provided are usually only indicative, are often subject to planning approvals and may be subject to delays.

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<h2>Fringe suburbs of already popular neighbourhoods</h2>

Don&#39;t be afraid to extend your search radius. As populations grow, fringe suburbs are becoming more densely populated, and with more people comes more businesses, infrastructure upgrades and a thriving community.

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<h2>Well-thought-out master-planned communities</h2>

The development of a master-planned community gives an area an instant population boost.

A thoughtfully designed masterplan will also deliver active open space, additional schooling, retail and dining and healthcare.

Many master-planned communities will also have extra space for businesses to operate from &ndash; meaning you can work close to home.

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<h2>Decent public transport and motorway connections</h2>

Getting to and from the areas you spend most of your time socialising and working with ease is an important consideration when choosing a location to buy your first property.

Are you within close proximity to a reliable bus route?

Is there a park and ride near the train station, or is the train station within walking distance?

Is the property within easy access to a direct route motorway or freeway to the city?

If not, then check for any infrastructure upgrades planned for the area in future.

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<hr />
<h2>&nbsp;</h2>

<h2>MIRVAC | FIRST HOME BUYER HUB</h2>

How do I go about buying my first home?

If this is a question you find yourself asking, use the&nbsp;Mirvac&nbsp;First Home Buyers checklist to learn the 11 key steps in the buying process for first home buyers.

<h2><a href="http://firsthome.mirvac.com/?utm_source=urban&amp;utm_medium=organic">Complete the Quiz*</a></h2>

[smartcode_project:default project_id=93788 project_image_fid=186245]

<hr />
Important note: The information in this article is general information only and has been prepared without taking into account your personal circumstances. While every care has been taken to ensure the accuracy of the information, Urban cannot be held liable for any inaccuracies, errors or omission. 

The information in this article does not constitute legal, tax or financial advice and you should always seek professional advice before purchasing property in relation to your individual circumstances.

Often the coveted suburbs to buy a home are some of the priciest – which means first home home buyers limited by budget generally begin to look further afield to get on the property ladder. We've mapped out a few of the key features to look for in a burgeoning suburb.

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