Summary:

<ul>
	<li>Primestone Projects launches Iridian Residences, a boutique collection of 21 apartments in Hampton East</li>
	<li>Designed for spacious living, residences include large balconies, courtyards, and abundant natural light</li>
	<li>Centrally located with easy access to amenities, transport, and Melbourne’s bayside lifestyle</li>
</ul>

<hr />
Boutique Melbourne developer,&nbsp;<a href="https://www.urban.com.au/developers/primestone-projects">Primestone Projects</a>, has launched its latest new apartment project.

Iridian Residences, a collection of 21 apartments in <a href="https://www.urban.com.au/developments/hampton-east-vic-3188">Hampton East</a>, a rare new addition to the suburb's housing stock where just 20 per cent of total dwellings are apartments according to the 2021 ABS Census.

[smartcode_project:default project_id=4072 project_image_fid=325044]

Designed by Axel Baumann of <a href="https://www.urban.com.au/architects/planar-arc">Planar Arc Architects &amp; Interior Design</a> to integrate with its established surroundings, Iridian Residences features a refined architectural approach.&nbsp;

The lower levels incorporate curved brickwork to ground the structure, while the upper floors adopt a lighter, pavilion-like form.&nbsp;

[smartcode_project:default project_id=4072 project_image_fid=325049]

<a href="https://www.urban.com.au/new-apartments/iridian-residences-hampton-east-11-keiller-street-hampton-east-vic-3188">Iridian Residences</a> offers just 21 one and two-bedroom apartments, a product mix not often seen in the new development market.

All apartmetns are designed with a focus on spacious, functional living, extending onto sizable balconies and courtyards to enhance indoor-outdoor connectivity.

Natural light is a key feature of the residences, with north and west-facing orientations maximising sunlight and ventilation.&nbsp;

Interiors feature quality fixtures and finishes in a neutral palette, allowing buyers flexibility in styling their homes.

[smartcode_project:default project_id=4072 project_image_fid=325048]

Located centrally within Hampton East, the development is positioned for convenience, with easy access to local amenities and transport links.&nbsp;

The suburb’s proximity to Melbourne’s bayside lifestyle is a drawcard, with the beach just 4.5 kilometres away, along with coastal walking and cycling trails.&nbsp;

Golf enthusiasts will also find themselves within reach of Melbourne’s renowned Sandbelt golf courses.

Construction of Iridian is approaching completion, and buyers will be able to move into their brand new apartments halfway through 2025.

For a limited time, buyers can secure an apartment with a five per cent deposit. Each apartment is priced under $1 million.

[smartcode_project_cta:default project_id=4072]

Iridian Residences offers just 21 one and two-bedroom apartments, a product mix not often seen in the new development market

Joel Robinson

Iridian Residences to bring rare new apartments to Hampton East as completion approaches

Summary:

<ul>
	<li>The Crisafulli Government has announced abolishing stamp duty on new homes for first home buyers, will be the first priority of Parliament 
	&nbsp;</li>
	<li>The Revenue Legislation Amendment Bill 2024 to be the first piece of legislation debated in the Parliament, delivering major cost of living relief to Queensland first home buyers.&nbsp;&nbsp; 
	&nbsp;</li>
	<li>Abolishing stamp duty is a key commitment to deliver a Fresh Start for Queensland and restore a place to call home for more&nbsp;Queenslanders, easing the Housing Crisis.&nbsp;&nbsp;</li>
</ul>

<hr />
The Crisafulli Government has announced abolishing stamp duty on new homes for first home buyers will be the first action of Parliament this year, delivering major cost of living relief to Queenslanders.&nbsp;&nbsp;

The move will pave the way for thousands of first home buyers to save on upfront transaction costs, unlocking home ownership for more Queenslanders while also boosting housing supply across the State.&nbsp;

In the last decade, Queenslanders were locked out of the housing market with the state recording the lowest rate of home ownership of any state in the nation.&nbsp;

Abolishing stamp duty on new homes for first home buyers is just one of the actions the Crisafulli Government is taking to boost home ownership, including unlocking underused church and charity owned land for community housing, removing restrictions preventing first home buyers renting out rooms and kickstarting new development with a $2 billion investment in housing infrastructure.&nbsp;

A first home buyer purchasing a new house and land package in Toowoomba at the median price could save $24,730.&nbsp;

First home buyers would save $29,500 when purchasing a new build at the median price in Brisbane east, while in Logan-Beaudesert, they would have keep $6960 in their pocket.&nbsp;

Premier David Crisafulli said every Queenslander should have a place to call home.&nbsp;&nbsp;

“We are unlocking more homes for more Queenslanders, more quickly,” Premier Crisafulli said.&nbsp;&nbsp;

“For far too long, stalling housing approvals and skyrocketing housing prices have shut the door on Queenslanders walking into their own home.&nbsp;

“For the past decade, the dream of home ownership has become a nightmare for Queenslanders.”&nbsp;

Treasurer and Minister for Home Ownership David Janetzki said the LNP would put Queensland back on top of the home ownership ladder within a decade.&nbsp;&nbsp;

“Queenslanders are losing hope in the Great Australian Dream of home ownership and the situation has never been more dire for young people wanting to purchase their first home,” he said.&nbsp;

“Never before have so many young Queenslanders wanted to own a home, and never before have so many believed it is out of reach.&nbsp;

“The Crisafulli Government is delivering a fresh start for Queensland, and we are boosting housing supply to increase Queensland home ownership rates.&nbsp;

“Scrapping first home buyer stamp duty on new builds provides real savings and puts the Great Australian Dream back within reach.”&nbsp;

First home buyers to pay no stamp duty on new property in QLD Gov shakeup

The first box that many prospective home buyers tick is location. It’s often the first filter used when browsing property listing websites.

However, it’s essential to look beyond the suburb level. The location of a property within a suburb can vary dramatically, and it’s only by going deeper that buyers can truly appreciate the benefits of being in a prime spot.

Gold Coast developer <a href="https://www.urban.com.au/developers/sixty-sticks">Sixty Sticks</a> is shaking things up in Southport, an area where new developments have traditionally centered around the heart of the suburb. They’ve secured a prime park-facing site on Brighton Parade for their newly launched <a href="https://www.urban.com.au/new-apartments/brighton-on-the-park-southport-28-brighton-parade-southport">Brighton on the Park</a>&nbsp;development, offering a unique location that offers a superior lifestyle experience.

The new development of just 12 luxury apartments will sit across the road from James Overell Park. It has been designed to take advantage of its location, with each apartment offering never-to-be-built-out views over the park, famous Gold Coast waterways, and across the Nerang to the city skyline.

[smartcode_project:default project_id=138113 project_image_fid=209673]

&nbsp;

&nbsp;

James Overell Park provides a green respite for residents looking to enjoy outdoor activities on its sports field, half-size basketball court, playground, picnic facilities and dog off-leash exercise area.

&nbsp;

The development is also strategically located close to&nbsp;top-tier educational institutions like The Southport School (TSS) and St Hilda’s School.

[smartcode_project:default project_id=138113 project_image_fid=209672]

While located outside&nbsp;<a href="https://www.urban.com.au/developments/southport-qld-4215">Southport</a>&nbsp;CBD, future Brighton on the Park residents will be just a three-minute drive is&nbsp;The Brickworks Centre, a lively shopping destination featuring the renowned Ferry Rd Market, known for offering some of the Coast's finest fresh produce, meats, seafood, and deli items.

The CBD is about three kilometres away, offering further&nbsp;shops, cafes, and essential services. The light rail, which heads runs south toward Broadbeach and north toward the Gold Coast University Hospital, is just a five-minute drive.

[smartcode_project:default project_id=138113 project_image_fid=209680]

&nbsp;

Sixty Sticks have already completed some preliminary site preparation for the six-level building which will have just two house-sized apartments per floor. Each apartment starts from nearly 250 sqm.

Crowning the building will be a resident amenity level with a rooftop pool with sun-drenched day beds, a fully equipped gym, and multiple lounge areas.

[smartcode_project:default project_id=138113 project_image_fid=209308]

Demolition of the existing house on the property will begin shortly, with construction expected to start in Q1/Q2 2025. The build is anticipated to take around 14 months, as the project will not require excavation for basement parking, which typically adds significant time to the timeline.

With construction on track, buyers can expect to move in by mid-2026.

&nbsp;

[smartcode_project_cta:default project_id=138113]

Southport's only new parkside apartment development: The prime location of Brighton on the Park

Leading Gold Coast-based developer <a href="https://www.urban.com.au/developers/aniko-group">Aniko Group</a> has reached a significant milestone in its $500 million transformation of Hope Island with the completion of its premium townhouse development, 35 Grant Avenue.

All 58 townhouses have sold.

George Mastrocostas, Managing Director of Aniko Group, said the project’s success reflects a strong market appetite for luxury housing in <a href="https://www.urban.com.au/developments/hope-island-qld-4212">Hope Island</a>.&nbsp;

“The sell-out of <a href="https://www.urban.com.au/new-apartments/no-35-grant-residences-35-grant-avenue-hope-island">35 Grant Avenue</a> highlights the continued demand for sophisticated and functional homes in sought-after locations like Hope Island”, Mastrocostas said.

“This waterfront development is part of our broader vision to enhance the quality of life for residents and contribute to the ongoing revitalisation of the area.”&nbsp;

35 Grant Avenue comprises architecturally designed two-level townhouses offering spacious three-bedroom layouts set within a secure, private gated community.&nbsp;

[smartcode_project:default project_id=95316 project_image_fid=201428]

Each townhouse features outdoor private courtyards with paved terraces and generous-sized balconies on the upper-level.

The interiors boast high-quality finishes, including Herringbone engineered timber flooring throughout the ground-level living area and ducted air conditioning throughout the main living area and bedrooms.

35 Grant Avenue features fully equipped kitchens designed for modern living, with under-bench wine fridges, electric cooktops, and quality stainless steel appliances.

<img alt="No. 35 Grant Residences" data-entity-type="file" data-entity-uuid="4ee117a7-4fd6-435c-b2ec-ceb69b6f77a3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/JPEG_living_courtyard_2_townhouse_a_31-35_grant%20ave_3d_render_by_volumevision.jpg?VersionId=9DR0NzHyRjkOhm4HUg6MDKZ.PtT9yL4G" />

The development also offers residents first-class amenities designed to enhance waterfront living, including a luxurious resort-style pool, waterfront boardwalk and private marina berths.&nbsp;

Providing residents with a peaceful, luxurious lifestyle while fostering a sense of community, 35 Grant Avenue also includes lush green landscaping, an outdoor BBQ and dining area, and an outdoor firepit and lounge area. &nbsp;

“35 Grant Avenue has been designed to promote community while offering residents quality living and the opportunity to indulge in the peaceful waterfront life,"&nbsp;Mastrocostas added.

"This focus on quality and connection has deeply resonated with our buyers."

The project’s strategic location further adds to its appeal, with direct access to the Hope Island Marketplace and proximity to the Gold Coast’s major shopping centres, dining precincts, and recreational areas.&nbsp;

“The completion and sell-out of this project highlights the strong demand for quality homes in this area.

“It reinforces our commitment to delivering developments that are not only well-designed but also meet the evolving needs of residents looking for both lifestyle and convenience.”

<img alt="No. 35 Grant Residences" data-entity-type="file" data-entity-uuid="01491ee1-4ecb-421d-8570-ac9c49151736" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/JPEG_firepit_31-35_grant_avenue_3d_render_by_volumevision.jpg?VersionId=GFB1tiW9_kK8N2eSS4Bw7BA_Cqf1FsqR" />

Aniko Group, known for delivering exceptional large-scale projects, has now completed four projects on Hope Island comprising 630 residences and is on track to complete $145 million Orama in Chevron Island, reinforcing its reputation as a reliable and trusted developer that delivers high-quality products.&nbsp;

Following the completion of 35 Grant Avenue, Aniko Group is setting its sights on the Gold Coast’s biggest project in two decades, The Landmark in Mermaid Beach, which is due to start construction in early 2025.

Having already launched a ‘Register Your Interest’ campaign for the first stage, <a href="https://www.urban.com.au/new-apartments/the-landmark-14-seaview-avenue-mermaid-beach">The Landmark</a> is primed to become one of the Gold Coast’s most iconic developments, featuring four towers and an internationally branded hotel yet to be announced.&nbsp;

“We are pleased with the momentum we’ve built with 35 Grant Avenue, and we look forward to bringing our focus to delivering The Landmark in Mermaid Beach, which is set to be a game changer for the Gold Coast on an international scale”, Mastrocostas concluded.

[smartcode_project_cta:default project_id=95316]

Aniko Group completes sold-out 35 Grant Avenue in Hope Island

The name of the suburb Sorrento, on Perth's stunning coastline, is believed to be inspired by the Italian town overlooking the Bay of Naples. It’s easy to see why—both places share incredible ocean views, beautiful beaches, and scenic walking trails.

What sets <a href="https://www.urban.com.au/developments/sorrento-wa-6020">Sorrento</a> in Perth apart, however, is something the Italian town doesn’t have: a brand-new apartment development. Apartments are a rare find in the beachside Perth locale, making up only about five percent of the suburb’s 3,000 or so homes. That’s what makes Megara’s Ora Sorrento such a unique opportunity for those wanting a modern, low-maintenance apartment by the coast.

[smartcode_project:default project_id=136169 project_image_fid=213841]

With such limited supply, the potential for strong long-term value growth is clear. <a href="https://www.urban.com.au/new-apartments/ora-sorrento-128-136-west-coast-drive-sorrento">Ora Sorrento</a>, currently under construction by Thomas Building, will offer 73 apartments when it’s completed in late 2026.

The award-winning MJA Studio took inspiration from Ora’s prime location, right across from Marmion and Sorrento Beaches. The design reflects the natural beauty of the coastline, with organic curves and high-quality finishes throughout both the exterior and interiors.

[smartcode_project:default project_id=136169 project_image_fid=213846]

Ora will feature a mix of spacious one, two, and three-bedroom apartments, plus the exclusive Cascade Collection of multi-level, three and four-bedroom penthouses. The design embraces a ‘barefoot luxury’ style, combining top-tier finishes with a laid-back, coastal vibe.

The open-plan layouts at Ora Sorrento are designed to maximise space and natural light, with kitchens featuring premium V-ZUG appliances and Astra Walker fixtures. In the larger apartments, the master suites include walk-through wardrobes that lead to private ensuites with double vanities.

[smartcode_project:default project_id=136169 project_image_fid=213851]

Residents will enjoy an impressive range of resort-style amenities, including a private residents’ deck with a heated pool, cabanas, a sauna, steam room and a gym. There’s also a dedicated lounge with a kitchen and dining area, perfect for entertaining, while a wine cellar provides a cosy setting for tastings and secure storage.

Conveniently located just minutes from Seacrest Shopping Centre, the Flora Terrace Strip, Hillarys Boat Harbour, and Sorrento Quay, Ora offers easy access to a variety of dining, retail, and recreational options. Families will appreciate nearby schools like Sacred Heart College and Sorrento Primary School, the only two schools in the suburb.

[smartcode_project:default project_id=136169 project_image_fid=213847]

Ora is currently under construction, with construction expected in 2026.

<a href="https://www.urban.com.au/developers/megara">Megara</a> has a strong track record, having been developing across Perth since 2006. They are currently developing <a href="https://www.urban.com.au/new-apartments/serai-north-fremantle-21-mccabe-street-north-fremantle">Serai</a>, one of the few new developments in <a href="https://www.urban.com.au/developments/north-fremantle-wa-6159">North Fremantle</a>.

[smartcode_project_cta:default project_id=136169]

The award-winning MJA Studio took inspiration from Ora’s prime location, right across from Marmion and Sorrento Beaches

The unrepeatable nature of Ora Sorrento apartments

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

Veteran developer&nbsp;Morris Property Group has announced the release of Walter &amp; Whitley, its rare apartment development in Griffith, one of Canberra’s most sought-after areas.

Situated at 52 Leichhardt Street, <a href="https://www.urban.com.au/new-apartments/walter-whitley-52-56-leichhardt-street-griffith">Walter &amp; Whitley</a>&nbsp;will have 67 one, two and three-bedroom apartments across two four-level buildings designed by <a href="https://www.urban.com.au/architects/guida-moseley-brown-architects">Guida Mosely Brown Architects</a>.

The two buildings are deliberately separated to ensure that each residence benefits from natural light and privacy, while also offering views of the landscaped gardens and heritage trees that line the street.&nbsp;

[smartcode_project:default project_id=136296 project_image_fid=295072]

The apartments have been designed with spacious floorplans, providing a seamless flow between living, dining, and kitchen areas, extending to expansive balconies.

The kitchens are equipped with premium inclusions including a 40mm stone island bench and European Bosch appliances. Larger units also feature additional amenities such as a bar with a Vintec wine fridge and a walk-in pantry.

[smartcode_project:default project_id=136296 project_image_fid=295077]

Residents of Walter &amp; Whitley will be within walking distance of <a href="https://www.urban.com.au/developments/griffith-act-2603">Griffith</a>'s several key amenities including Old Kingston Shops, Manuka Terrace, and Fyshwick Fresh Food Markets, all within one kilometre.&nbsp;

The nearby Kingston Foreshore and Manuka Precinct further enhance the location's appeal, offering a variety of dining, leisure, and entertainment options within walking distance.&nbsp;

[smartcode_project:default project_id=136296 project_image_fid=295078]

One-bedroom apartments in Walter &amp; Whitley are priced from $599,900.

<a href="https://www.urban.com.au/developers/morris-property-group">Morris Property Group</a>&nbsp;is one of the most active developers in both Canberra and on the Gold Coast.

Recently they launched <a href="https://www.urban.com.au/new-apartments/malo-broadbeach-8-jubilee-avenue-broadbeach-qld-4218">Malo Broadbeach</a>, just 16 half-floor apartments on Jubilee Avenue.

[smartcode_project_cta:default project_id=136296]

Residents of Walter & Whitley will be within walking distance of Griffith's several key amenities including Old Kingston Shops, Manuka Terrace, and Fyshwick Fresh Food Markets, all within one kilometre

Morris Property Group launch Walter & Whitley in Canberra's Griffith

Canberra's inner city suburb of Deakin is set for one of its most luxury apartment developments to date.

Plans have been filed for a mixed-use development including 53 apartments, a day spa, a club lounge, and a public art gallery at 38 Grey Street, Deakin, next to Canberra Girls Grammar School.

The site had previously been occupied by the Margaret Dimoff Art Gallery, and had been subject to a development application for a 102-bed aged care development in 2017.

The new plans, linked to an unknown developer with a registered address in Melbourne, align more closely with the site's proximity to Parliament.

<img alt="Embassy" data-entity-type="file" data-entity-uuid="a2454d3e-da0e-4ecd-ba93-9549d1b5008a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-14%20at%209.12.17%E2%80%AFAM.png?VersionId=5vi8Yyh50natyyPbuU8LUa1FnQ65FKlB" />

The development has been called Embassy Residences in the application and will span six levels.

&nbsp;

The apartment sizes are generous, starting from 160 sqm and ranging up to 600 sqm. There will be two, three and four-bedroom apartments on offer.

Designed by <a href="https://www.urban.com.au/architects/hugh-gordon-architects">Hugh Gordon Architects</a>, the building's orientation, form, and scale have been planned to enhance residential amenity while complementing the area's emerging built form.

Embassy Residences' design incorporates features such as physical stepping, architectural elements, balconies, and shading structures to create visual interest and differentiation from neighbouring properties and maintain privacy.

The building's façade will utilise a mix of face bricks, matt monument black, off-white render arches, and brushed brass balustrades, chosen for both aesthetic appeal and ease of maintenance.

<img alt="Embassy" data-entity-type="file" data-entity-uuid="7971da7a-20ad-4a28-b1a8-981799565586" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-08-14%20at%209.12.11%E2%80%AFAM.png?VersionId=cfJoalk8xjneAI28YSAM.LHQLjTX5ZBB" />

Ground floor units will include courtyards, while penthouses will offer private lifts and rooftop terraces exceeding 200 sqm.&nbsp;All apartments are equipped with EV charging points.

The proposed development is situated adjacent to a planned light rail stop connecting Civic and Woden.

The proposed development is situated adjacent to a planned light rail stop connecting Civic and Woden.

First look: Embassy Residences set for Canberra's Deakin

When it comes to apartment investing, one of the most important factors is securing a tenant.

To do so, apartments need to cater for the owner-occupier. Given the huge growth in the cost of rentals in the last three years, cookie-cutter apartments in a high-rise tower won't do.

At the same time, unit values have also jumped significantly across most parts of the country, which shows investors are not only reaping strong rents, but they're also netting a strong compound growth rate in the value of their investment.

One of the main factors in securing a tenant is supply v demand. Investors need to hit a spot where there's a lot of demand, ideally from a wide range of demographics, but also an area where there's less supply than demand.

<a href="https://www.urban.com.au/developers/jwland-development">JWLand</a>, one of Canberra's leading builder developers, is currently developing De Burgh in Northbourne Village in<a href="https://www.urban.com.au/developments/lyneham-act-2602"> Lyneham</a>, a suburb north of the centre Canberra which is largely populated by young professionals, students, and growing families.

[smartcode_project:default project_id=139989 project_image_fid=212887]

Lyneham's proximity to the city centre, coupled with local parks, wetlands, and a well-connected light rail service, makes it an ideal spot for those seeking convenience and an active suburban lifestyle.

Additionally, the area is near the Australian National University and various top-rated public schools, making it appealing for both students and families.

Investors have been attracted to the growth in Lyneham where the typical rental yield is five per cent, while unit growth rates average 5.8 per cent per annum over the past three years.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212914]

The median price for units has surged by 22.3 per cent in the past year, now standing at $608,000. Weekly rents in the area are robust, with median figures of $480 for one-bedroom apartments, $560 for two-bedroom apartments, and $750 for three-bedroom apartments.&nbsp;

These figures, along with a vacancy rate of just 1.9 per cent, indicate a strong and competitive rental market.

<a href="https://www.urban.com.au/developers/jwland-development">JWLand Development</a> has already sold out Embark and almost sold out The Sullivan, the first two stages of Northbourne Village. The third and final residential release,<a href="https://www.urban.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham"> De Burgh</a>, is set to welcome new residents in the second half of 2025.

[smartcode_project:default project_id=139989 project_image_fid=212915]

Boasting a central position in the Village, De Burgh is located just three kilometres from the city centre, placing future residents in a prime position to take in all Canberra has to offer.

Situated on Northbourne Avenue, just three kilometres from Canberra's city centre, De Burgh offers a range of one, two, and three-bedroom apartments, each light-filled with living areas connecting to outdoor spaces.

[smartcode_project:default project_id=139989 project_image_fid=212889]

Buyers can opt in for various upgrades to enhance their living experience at De Burgh. There's the option to include an electric vehicle charger in a car spot, or add the Smart Lock system to your phone which gives control of who has the digital keys to the apartment and when they can use them.

Other features of De Burgh include energy-efficient inclusions, embedded network services, a landscaped central courtyard, a parcel locker system, and low-cost levies. For those who love to entertain, there's also a rooftop garden and residents' lounge room.

[smartcode_project_cta:default project_id=139989]

Investors have been attracted to the growth in Lyneham where the typical rental yield is five per cent, while unit growth rates average 5.8 per cent per annum over the past three years. 

Why JWLand's De Burgh apartments in Lyneham present an ideal investment opportunity

As the bustling Northbourne Village continues to establish itself as a prime destination in Canberra’s inner-north precinct, De Burgh stands out as the perfect place to call home.

With Embark already fully occupied and The Sullivan also completed by prominent developer JWLand, <a href="https://www.urban.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham">De Burgh</a> is becoming the go-to location for those seeking a vibrant lifestyle that offers both convenience and relaxation.

Northbourne Village offers the perfect balance of city and suburban life. Residents can explore the heritage-listed sites in <a href="https://www.urban.com.au/new-apartments/lyneham-act">Lyneham</a>, one of Canberra’s oldest suburbs, or head over to the lively <a href="https://www.urban.com.au/new-apartments/braddon-act">Braddon</a> and <a href="https://www.urban.com.au/new-apartments/dickson-act">Dickson</a>&nbsp;for cafes, boutique shops, and eateries.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212887]

One of the most appealing aspects of De Burgh is the easy access to the city centre, which is only three kilometres away. Residents can hop onto the light rail that runs right past their door and be in the heart of Canberra within a matter of minutes.

Getting around is a breeze in De Burgh. The Sullivans Creek bike path is easily accessible, with off-road connections to local centres, the Australian National University (ANU), and beyond. For those who prefer to drive, the Federal and Barton highways are just minutes away, and Canberra International Airport is only 13 minutes by car.

At De Burgh, residents are spoiled for choice when it comes to leisure activities. Dickson, just across the road, offering a range of Asian specialties, as well as Italian, Middle Eastern, and modern Australian cuisines with a variety of dining, shopping, and socialising options.&nbsp;

The Sullivans Creek wetlands are also just steps away, providing a serene escape from the hustle and bustle of city life.

[smartcode_project:default project_id=139989 project_image_fid=212888]

The Saturday morning farmers’ market at Exhibition Park in Canberra (EPIC) offers fresh produce from the Canberra region, and there are many playgrounds, schools, and early childhood centres in the area.

For sports enthusiasts, Lyneham is home to the National Hockey Centre, the Canberra Tennis Centre, and the ACT Netball Centre. The Yowani Country Club offers an opportunity to work on your golf game, while the local bike and jogging paths are perfect for fitness enthusiasts. Those who prefer a gentler physical outlet can hike through the nearby O’Connor Ridge Nature Reserve.

Residents of De Burgh can also indulge in a variety of dining options. Tilly's Devine Cafe and Gallery, a local institution in Lyneham, is right on their doorstep. Turkish Pide &amp; Kebabs, also in Lyneham, is known for drawing customers from all over Canberra.

<a href="https://www.urban.com.au/new-apartments/braddon-act">Braddon</a>, just a short walk away, offers even more cosmopolitan eating options, along with excellent coffee, craft breweries, and a gin bar. And for those looking for a more formal dining experience, Canberra’s city centre is just a short light rail trip from home.

[smartcode_project_cta:default project_id=139989]

De Burgh: The suburban retreat in Canberra's high-energy inner-north precinct

Prominent ACT property developer Geocon Group has reached over 50 per cent sold of its latest Canberra apartment project, The Grande on London, within just over a month of its release.

The new $250 million mixed-use project signals a significant step in the revitalisation of the former Werriwa Defence Facility.

<a href="https://www.urban.com.au/new-apartments/the-grande-on-london-70-allara-street-canberra">The Grande on London</a> is intended to cater to both live-in owner-occupiers and investors, positioned as a rare opportunity to purchase a new apartment in Canberra's CBD to address a potential housing shortage in the area, with the location being close to the lake, theatre precinct, shops, restaurants, and the light rail.&nbsp;

<img alt="The Grande on London reach 50 per cent sold - Living" data-entity-type="file" data-entity-uuid="efa144c6-eafb-47e9-8f7d-14af61fd045f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Grande%20on%20London%20Living.png?VersionId=ilUfPRQqtCv_B7l7mpDI8jtbVsqaGfYJ" />

The Grande on London, bordering Allara Street and London Circuit, will deliver three buildings designed by <a href="https://www.urban.com.au/architects/fender-katsalidis-architects">Fender Katsalidis</a> with 332 one, two, and three-bedroom apartments across eight levels and above commercial spaces.

The ground level is designated for commercial use, and the project includes features such as a landscaped plaza, communal gardens, and deep-rooted trees to enhance the connection between London Circuit and Allara Street.

<img alt="The Grande on London reach 50 per cent sold - Pool" data-entity-type="file" data-entity-uuid="52324f4b-5984-4537-9865-e0a17049f8f9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Grande%20on%20London%20Pool.png?VersionId=Vj2dlhvUj6LUKKwfFlpQRFhR6uJZ8Cxh" />

Residents-only amenities include a co-working space, rooftop pool and pavilion, fitness centre and yoga studio, library, cinema, dog wash and bike storage.

Strategically positioned near Commonwealth Avenue and within a burgeoning growth corridor, The Grande on London also enjoys proximity to key government offices including the Department of Home Affairs, Murray Darling Basin Authority, Department of Foreign Affairs and Trade, and the <a href="https://www.urban.com.au/new-apartments/canberra-act">ACT</a> Government.

<a href="https://www.urban.com.au/developers/geocon-group">Geocon Group</a>&nbsp;has already kicked off construction at&nbsp;The Grande on London. They're anticipating a completion date of late 2025.

[smartcode_project_cta:default project_id=135046]

Geocon Group has already kicked off construction at The Grande on London. They're anticipating a completion date of late 2025

Geocon's The Grande on London apartments in Canberra race to 50 per cent sold

Architecture firm&nbsp;<a href="https://www.urban.com.au/architects/fender-katsalidis-architects">Fender Katsalidis</a> has achieved design approval for a $250M build-to-rent development on Canberra’s premier route; Northbourne Avenue.&nbsp;

220 Northbourne Avenue, located on the city’s major arterial road approximately two kilometres north of <a href="https://www.urban.com.au/new-apartments/canberra-act">Canberra</a>'s CBD, represents Canberra’s second build-to-rent development on a site of strategic importance for the city. Situated at a key intersection under the National Capital Plan’s City and Gateway framework, with the light rail passing the development’s doorstep, 220 Northbourne Avenue offers a gateway to all Canberra has to offer.&nbsp;

The site will be home to three buildings encompassing 393 apartments in addition to a commercial building and retail tenancies on the ground level. A range of studio, one, two and three-bedroom rentals will be available, appealing to Canberra’s broad demographic of renters, including students, families and young professionals.&nbsp;

Fender Katsalidis associate principal David Robinson said: “The build-to-rent typology in Canberra is in its infancy but is a critically important addition to residential living. We’re thrilled to continue shaping the landscape in Australia’s Capital Territory and set a standard for excellence in build-to-rent living.&nbsp;

Providing a richness of amenities and experiences to residents was front-of-mind throughout our design process, and ensuring that community-centric living and convenience are central to the design. We’re really excited to be paving the way for this new type of living in such an important location for the city.”&nbsp;

<img alt="FK achieve DA approval Northbourne Avenue" data-entity-type="file" data-entity-uuid="1f5019c8-9dbb-47ae-86f2-347d4822ac1d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/FK%20Northbourne%20Avenue%20Side.jpg?VersionId=3JvWZ4LTUPf1QFUzjrbaESiCv3tJd6Q6" />

The site is connected via a series of gardens, plazas and laneways to provide quality spaces and connections for the community and convenient access to amenities. Featuring coworking areas, &nbsp;wellness facilities, a rooftop terrace, community hubs, a resident cinema and a sports lounge, plans also include supporting artists in residence and programmed events to enliven the precinct and foster an active and vibrant ground plane experience.&nbsp;

Canberra’s National Capital Plan and its urban renewal principles have shaped the designs that will see the development of the Macarthur Node as a symbolic gateway to the city. The formal landscape of the avenue has been integrated into the rich ground plane of the precinct, meanwhile, the lower ground of the precinct is defined by heavily landscaped features to maximise tree coverage and site permeability.&nbsp;

Three distinct facades across each building will enrich the diversity of the precinct and provide a sense of address to each. The northern building defines the new plaza at the intersection and provides a distinguished address to Northbourne and Wakefield Avenue. The largest central building presents a rhythmic grid expression at lower floors to the avenue and references Robin Boyd’s Churchill House to the south, whilst the upper floors provide a more sculptural form. The southern building steps down to the east, providing external terraces and break-out spaces for the commercial tenancies, and engages with a highly landscaped laneway that will also feature urban art.&nbsp;

A dramatic enclosed glass-roof atrium in the central building is encompassed by ground-floor residential amenities and tenancies. The landscaped atrium connects a north-to-south internal link and creates an internal space for the community to converge and inhabit. From the 8th-floor rooftop garden, &nbsp;residents will enjoy views across the north and east of the Capital’s distinctive bush landscape.&nbsp;

<img alt="FK achieve DA approval Northbourne Avenue" data-entity-type="file" data-entity-uuid="75131ada-0af5-4cc1-a408-a7f531c2f239" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/FK%20Northbourne%20Avenue%20Canberra.jpg?VersionId=96sLjwfukrxxFPyLK9sitWXXGCzZq19X" />

“We wanted to create a moment of surprise for people when they enter the atrium. We hope the dynamism &nbsp;of the space coupled with the rich landscape and enclosed roof will captivate Northbourne Avenue’s residents and visitors.” David Robinson added.&nbsp;

Given its altitude and colder climate, Canberra has a large variance in annual temperature and high energy usage in the winter months, meaning rigorous energy testing and analysis of energy use across the full buildings was integral to informing the design and location of apartments and living spaces.

Fender Katsalidis worked closely with ESD consultants to examine glazing performance, shading, window-to-wall ratios and the placement of balconies and winter gardens. This resulted in a 31% reduction in cooling peak loads, a 13% reduction in heating peak loads, and a 23% reduction in total energy demand.&nbsp;

The sculptural horseshoe form of the central residential building features open-air corridors that provide through-apartment cross ventilation and enable greater flexibility in living through the warmer months. Carefully considered solar access and efficient materials were chosen to create high-performing facades across the year. The precinct will be a gas-free, all-electric design in line with the growing use of renewable energy in Canberra.&nbsp;

Intended to celebrate and embed Canberra’s identity as the ‘bush capital’, the landscape has been a critical component of the design. Working in partnership with landscape architecture and urban design experts Oculus, the design features native plants providing year-round greenery that improves community amenity, improves tree canopy coverage and habitat biodiversity.&nbsp;

<a href="https://www.urban.com.au/landscape-architect/oculus">OCULUS</a> Senior Associate Peta Miskovich said: “We’ve carefully designed spaces that respond to &nbsp;Canberra’s distinct climate, to create functional, flexible, and enjoyable outdoor places for people to inhabit &nbsp;year-round.”

Fender Katsalidis set to shape Canberra’s build-to-rent landscape as designs are approved for a new development on Northbourne Avenue

Greenlight for 393 Fender Katsilidis-designed apartments in Canberra

Local Canberra developer TP Dynamics, which for years has focused on large community projects, is preparing to launch the largest mixed-use development in Canberra.

The project, Yowani Grounds, will redevelop the Yowani Country Club's non-golf course land in <a href="https://www.urban.com.au/developments/lyneham-act">Lyneham</a>, a site strategically positioned at the intersection of Canberra's main entry axe. They'll be creating&nbsp;a mini-city with over 1000 residences as well as retail spaces, cafes, and landscaped public areas.

<a href="https://www.urban.com.au/developers/tp-dynamics">TP Dynamics</a> founder and Managing Director Tony Pan says the innovative placemaking project is envisioned as a place where residents can live, work, and play within a cohesive and sustainable environment.

“Our expansive project slated for Yowani will depart from conventional developments typically seen within the Canberra landscape, with a design that embraces diversity in housing options for the eclectic mix of residents that call Canberra home," Pan says.

"We are excited to deliver a significant project that is more than just a residential or commercial development; it will be a vibrant community in the making for years to come.

"The design will incorporate spaces that foster social interaction, from the lush green parks surrounding the dwellings to the bustling commercial areas for a vibrant atmosphere."

The development will encompass several buildings and typologies, with low-rise terraces and townhouses overlooking Sullivan’s Creek, gradually transitioning into a core commercial zone along Northbourne Avenue.

A series of residential apartment buildings will also make up a part&nbsp; of the project, with space for a hotel and seniors living provider to exist on site, as well as the redevelopment of the Yowani Country Club clubhouse, which will remain within the precinct.

To date, TP Dynamics has established a positive reputation, with a series of residential and mixed-use developments within Canberra that have assisted in addressing the housing needs of the ACT in alignment with the region's long-term objectives. The Yowani project exemplifies this commitment, presenting a distinctive placemaking experience designed to offer residents an opportunity to experience architectural excellence, low maintenance 'lock up and leave' style living, and a harmonious connection to nature.

"Our upcoming project to be located in Lyneham reflects our long-term vision to deliver quality, community-centric living for Canberrans," Pan added.

"As locals ourselves, we understand the changing face of the city, and the pressing need for well-connected residences, that can enhance the overall living standards for residents, while also adding to the look, feel and liveability of the landscape."

The project's commitment to the conservation of the local Lyneham area aligns with TP Dynamics' broader goal of creating opportunities for education, employment, and innovation within the community in ways that resonate with the <a href="https://www.urban.com.au/developments/canberra-act">Canberra</a> identity.

“We hope through this project to showcase our commitment to reshaping Canberra's urban landscape in a way that resonates with Canberrans. In the face of a growing population and evolving lifestyle preferences, our goal is for it to exist as a blueprint for modern, sustainable, and community-centric development as more housing options are in demand for our growing city."

Canberra's population is set to surge by 2050, with an additional 175,000 to 250,000 residents set to call Canberra home within the next two decades, according to the Australian Bureau of Statistics.

TP Dynamics will be launching the project in mid-2024.

TP Dynamics to create new mixed-use precinct in Canberra's Lyneham

Prominent ACT property developer <a href="https://www.urban.com.au/developers/geocon-group">Geocon Group</a> is soon to launch its latest residential project, on the fringe of Canberra's famous City Hill.

The new $250 million mixed-use project,&nbsp;<a href="https://www.urban.com.au/new-apartments/the-grande-on-london-70-allara-street-canberra">The Grande on London</a>&nbsp;bordering Allara Street and London Circuit, will deliver three buildings designed by&nbsp;<a href="https://www.urban.com.au/architects/fender-katsalidis-architects">Fender Katsalidis</a>&nbsp;with 332 apartments above commercial space.

Each apartment features floor-to-ceiling windows, SMEG kitchen appliances, brushed nickel tapware and full-height bathroom tiling.

<img alt="The Grande Canberra Launch" data-entity-type="file" data-entity-uuid="c079988e-4645-4a96-9414-e9c349ddc3f7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Grande%20Living.png?VersionId=v0hbn8uKjp0BcKUj3JkDR1dxZZXXU0MS" />

The project follows Geocon's successful acquisition of the leasehold of the 7,640 sqm site from the Federal Government in May 2020, signalling a significant step in the revitalization of the former Werriwa Defence Facility.

The ground level is designated for commercial use, and the project includes features such as a landscaped plaza, communal gardens, and deep-rooted trees to enhance the connection between London Circuit and Allara Street.

<img alt="The Grande Canberra Launch" data-entity-type="file" data-entity-uuid="c57a7bf0-2fb4-4ea5-9039-941a58ff190a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Grande%20Bedroom.png?VersionId=gfmucjh3DOzoXGAhrMlx8P7X6thc.7bb" />

Residents-only amenities include a co-working space, rooftop pool and pavilion, fitness centre and yoga studio, library, cinema, dog wash and bike storage.

The development is positioned as a rare opportunity to purchase a new apartment in Canberra's city centre, with the location being close to the lake, theatre precinct, shops, restaurants, and the light rail.&nbsp;

Strategically positioned near Commonwealth Avenue and within a burgeoning growth corridor, The Grande on London also enjoys proximity to key government offices including the Department of Home Affairs, Murray Darling Basin Authority, Department of Foreign Affairs and Trade, and the ACT Government.&nbsp;

<img alt="The Grande Canberra Launch" data-entity-type="file" data-entity-uuid="493b284e-61fa-4359-a101-902aeb8907e6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/The%20Grande%20pool.png?VersionId=OIUT.fMa3t1gfTfvo1MD_YC.REvPPLOx" />

The project is intended to cater to both live-in owner-occupiers and investors, addressing a potential housing shortage in the city centre.

Geocon, led by managing director&nbsp;Nick Georgalis, has three others projects on the go. Their latest, WOVA in Woden, is set to be completed later this year.

[smartcode_project_cta:default project_id=135046]

Geocon, led by managing director Nick Georgalis, has three others projects on the go. Their latest, WOVA in Woden, is set to be completed later this year

Geocon to launch The Grande on London apartments in the heart of Canberra 

Off the plan buyers in the ACT are set to save even more on stamp duty following another government amendment to the threshold.

From November 27, the stamp duty threshold will move to $800,000, from $700,000.

The government estimates that on an $800,000 purchase, buyers could save nearly $23,000 in stamp duty. It's only for the owner-occupier, so to be eligible for the stamp duty waiver, at least one buyer must live in the home continuously for 12 months within a year of settlement.

The raise is part of the government's strategic plan to phase out stamp duty in the territory, replacing it with higher general rates.

[smartcode_project:default project_id=139989 project_image_fid=212887]

&nbsp;

With Canberra currently holding the position as the nation's third-most expensive unit market with a median price of $567,059, the adjustment is a timely measure to enhance affordability for potential home buyers—especially for those looking to transition to higher-density living options like apartments and townhouses.

Property Council ACT executive director Shane Martin welcomes the move, describing stamp duty as an "inefficient tax" that hinders home purchases and discourages downsizing. The expectation is that removing this barrier will motivate older Canberrans to put their existing homes on the market, thereby increasing the housing supply and freeing up stand-alone properties for growing families.

However, concerns are also raised about the need for more land release. Experts argue that apartments and detached homes require additional land supply to meet the growing demand. The Property Council suggests exploring the sale of smaller blocks, offering a potentially more affordable entry point for developers and buyers alike.

[smartcode_project:default project_id=139989 project_image_fid=218009]

The ACT's stamp duty concession stands out compared to similar schemes in other Australian states. In Victoria, first-home buyers are exempt from stamp duty for properties valued at $750,000 or less. In New South Wales, buyers have a generous 15-month window to pay the levy on off-the-plan purchases. Meanwhile, Western Australian buyers can secure a stamp duty exemption for off-the-plan deals valued at $650,000 or under until June 2025.

This adjustment is poised to shape buyer behaviour and preferences in the Canberra real estate market. As the city continues to evolve, the government's proactive measures aim to create a more accessible and appealing property market for a diverse range of home buyers.

The government estimates that on an $800,000 purchase, buyers could save nearly $23,000 in stamp duty



Stamp duty threshold for off the plan buyers in Canberra jumps

De Burgh at Northbourne Village,&nbsp;the latest property from renowned developer JWLand Development, takes up a prime spot within the Canberra suburb Lyneham, home to a mix of heritage and modern homes with tree-lined streets and beautiful gardens.&nbsp;

De Burgh, a mid-rise development of 351 apartments designed by contemporary architectural practice Cox Architecture, enjoys a central position in the Northbourne Village along Northbourne Avenue.

[smartcode_project:default project_id=139989 project_image_fid=212914]

De Burgh's prime location places residents within easy access to the centre of Canberra, a three kilometres commute - making it a perfect spot for both families and young professionals. The nearby light rail station connects locals to the heart of Canberra's public transport network.

For young families, several educational institutions are accessible within a 1.5-kilometre radius. The area is home to Lyneham Primary School and Lyneham High School, ensuring a convenient and easily accessible education for young residents.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212888]

For outdoor enthusiasts, Lyneham is a haven with its great outdoors, offering residents ample opportunities to reconnect with nature right at their doorstep.&nbsp;

A nearby micro-forest, garden, playground and the picturesque Lyneham Wetlands Park provide the perfect backdrop for family outings and strolls. Lake Burley Griffin and several nature preserves, botanical gardens and other parks on nearby suburbs are less than a 20-minute drive from the property.

Lyneham and its neighbouring suburb, Dickson's, also offers a vibrant food and shopping scene. Local cafes and diverse restaurants surrounding the area provide a rich tapestry of cuisines, ensuring that there is always something new to try every evening.

[smartcode_project:default project_id=139989 project_image_fid=218009]

Residents can also look forward to enjoying many festivals held in the Exhibition Park in Canberra (EPIC), including the Royal Canberra Show, the National Folk Festival and Summernats.

As the development takes shape, it's poised to become the most sought-after address for families and professionals who want to experience the perfect fusion of urban convenience and serene surroundings within arm's reach of Canberra's bustling core.

[smartcode_project_cta:default project_id=139989]

For outdoor enthusiasts, Lyneham is a haven with its great outdoors, offering residents ample opportunities to reconnect with nature right at their doorstep

Latest Australian Capital Territory Property News

Morris Property Group launch Walter & Whitley in Canberra's Griffith

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Australian Capital Territory Property News

Morris Property Group launch Walter & Whitley in Canberra's Griffith

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News