ICD Property has a penchant for grand-scale, mixed-use developments, with a focus in recent years in its native Melbourne, Adelaide, and most recently Sydney.

The latest play by the Matt Khoo-led developer is in Brisbane, its first foray into the Queensland market. They've picked up a prime&nbsp;<a href="https://www.urban.com.au/developments/west-end-qld-4101">West End</a>&nbsp;site from R&amp;F Property, spending just under $50 million on the 1.68-hectare riverfront plot which cost R&amp;F $82.5 million in 2014.

Currently home to Riverside Corporate Park, the site, which borders Donkin and Buchanan Street, is currently occupied by&nbsp;three low-rise commercial buildings.&nbsp;

ICD has yet to reveal its own plans for the A-grade block of land, but previous approvals have been for seven buildings with around 1,000 apartments, a retail plaza, and a riverside walkway.

<img alt="ICD" data-entity-type="file" data-entity-uuid="035146a7-0cb7-4dba-80a9-c222c7143235" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-01-21%20at%201.50.40%E2%80%AFPM.png?VersionId=_Zi1F4QY8u6JKkcuE7voWdNUxI_g3qbw" />

ICD has already established a joint venture to work on the project, much like their upcoming Sydney CBD development, Sydney House. They're working with&nbsp;Singapore-listed&nbsp;<a href="https://www.urban.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;on the redevelopment of&nbsp;the landmark City Tattersall building on Pitt Street in the Sydney CBD.

<a href="https://www.urban.com.au/builders/richard-crookes-constructions">Richard Crookes Constructions</a>&nbsp;has already started the build of the striking new tower that will emerge above the heritage-listed former club that will be restored and converted into heritage hospitality venues.

Sales are expected to commence soon for the 241 one, two and three-bedroom apartments that will be spread across a new 50-level tower.

[smartcode_project:default project_id=12428 project_image_fid=312149]

ICD is also working with the Adelaide City Council on Market Square, a $400 million mixed-use project with apartments, a hotel, offices, and a childcare centre, as well as a significant retail precinct and a park.

Completion for Market Square is slated for 2026.

[smartcode_project:default project_id=104946 project_image_fid=218790]

ICD's latest project joins the ranks as yet another planned for the Brisbane River, which is going under somewhat of a precinct boom.

Across the road from ICD's recently acquired site, Heidelberg Materials is <a href="https://www.urban.com.au/news/qld/multi-tower-precinct-planned-for-south-brisbane-riverfront">proposing three 50-level towers</a> with 620 apartments, above&nbsp;a food and beverage plaza and a 5,400 sqm public park.

Apartments are still under construction at Queens Wharf, Brisbane's landmark riverside development, while <a href="https://www.urban.com.au/new-apartments/teneriffe-banks-17-27-skyring-terrace-teneriffe">Tenneriffe Banks</a> by Kokoda Property has been a hit with buyers since it launched to market.

ICD has yet to reveal its own plans for the A-grade block of land, but previous approvals have been for seven buildings with just around 1,000 apartments, retail spaces, and a riverside walkway.

Joel Robinson

Exclusive: ICD Property secures riverfront West End site for Brisbane's latest multi-tower precinct

National developer Frasers Property is putting family first at its latest masterplanned development, Bradmill.

<a href="https://www.urban.com.au/new-apartments/bradmill-yarraville-355-359-francis-street-yarraville-vic-3013">Bradmill</a> in Melbourne's <a href="https://www.urban.com.au/developments/yarraville-vic-3013">Yarraville</a>, seven kilometres west of the CBD, brings a lower maintenance, family-friendly option to the suburb which is dominated by single detached houses.

[smartcode_project:default project_id=134727 project_image_fid=317864]

The first two stages at Bradmill, Pioneer and Monfort Townhomes, have been designed by renowned architecture firm&nbsp;<a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>. They have several different configurations, offering either three or four bedrooms across two or three levels.

The homes are designed for family living, with open-plan kitchen, living and dining areas flowing onto private gardens, courtyards, or balconies. Single or double garages also offer convenient access to the indoors.

Rothelowman has also put a focus on modern living, with many homes offering dedicated study areas to accommodate the growing work-from-home trend.

The living areas feature low-maintenance engineered oak timber flooring, while the bedrooms are fitted with 100 per cent wool loop pile carpets.

Buyers can choose from two distinct interior colour schemes, Chambray and Indigo, a light or a darker colour for the interiors.

[smartcode_project:default project_id=134727 project_image_fid=317871]

Like the majority of <a href="https://www.urban.com.au/developers/frasers-property">Frasers Property</a> projects across the country as the company looks towards a more sustainable built environment, the homes are all-electric. They all come complete with solar PV systems, water-saving initiatives, and double-glazing throughout.

[smartcode_project:default project_id=134727 project_image_fid=311175]

Frasers Property doesn't build just homes, but communities.

The neighbourhood of Bradmill will be one of the most connected in Melbourne's inner west. Future Bradmill residents will have exclusive access to Bradmill Social, a hub for exercising, co-working, and group events.

[smartcode_project:default project_id=134727 project_image_fid=311275]

Linear Park will run through Bradmilll,&nbsp;connecting residents directly to the vast green spaces and sports grounds of adjacent McIvor Reserve, and a stroll to Bradmill Quarter’s 8,000 sqm retail precinct and the vibrant dining and community spaces of The Arbory.

The townhouses at Bradmill are currently&nbsp;under construction and will welcome residents toward the end of 2025.

[smartcode_project_cta:default project_id=134727]

The homes are designed for family living, with open-plan kitchen, living and dining areas flowing onto private landscaped gardens.

Why families are flocking to townhouses in Bradmill Yarraville

Diversified national property developer,&nbsp;<a href="https://www.urban.com.au/developers/time-place">Time &amp; Place</a>, has&nbsp;received development approval from the Victorian Planning Minister for a large-scale mixed-use development that will occupy one of the largest island sites on the Melbourne CBD periphery.

It will add another $500 million to the developer‘s portfolio once complete. &nbsp;

The Minister for Planning of Victoria, Sonya Kilkenny, announced the project’s planning approval in person at the <a href="https://www.urban.com.au/developments/south-melbourne-vic-3205">South Melbourne</a> site.&nbsp;

The DFP pathway was introduced to fast-track the delivery of much-needed housing and has been a pivotal tool in enabling the approval of Time &amp; Place developments while also includes their <a href="https://www.urban.com.au/news/vic/first-look-time-place-and-woolworths-greenlit-for-glen-iris-mixed-use-precinct">$150m mixed-use Glen Iris development</a> in partnership with Woolworths Group which was approved in October 2024.&nbsp;

By providing reduced approval timeframes and greater project certainty, the DFP pathway has enabled Time &amp; Place to confidently advance projects that meet community needs in a timely and efficient manner, strengthening project viability.&nbsp;

Tim Price, Founder and Director of Time &amp; Place, says the&nbsp;accelerated approval process is "enabling us to better deliver thoughtfully designed places while supporting local economic growth and job creation."

"We commend the Minister and the Victorian Government for their leadership and commitment to facilitating impactful developments that benefit the community and economy."

After initially acquiring a single site at 11-17 Dorcas Street, Time &amp; Place has spent the past 18 months gradually acquiring four additional sites bordered by Dorcas and Wells Streets and Middleton Lane, taking the land holding to 2,398 sqm.

The development will feature 243 apartments and introduce a village-style look and feel that integrates dining options, amenities and a community activation that will link directly with South Melbourne. The project will comprise one, two, three and penthouse apartments, in addition to a diverse ground-floor retail offering.&nbsp;

Designed by the renowned <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a> studio, the distinctive project is designed to feature two sculptural towers connected via a central garden bridge. The towers are conceived as a pair of elegant forms that rest on a refined garden podium, celebrating the Parkside address and surrounding Domain precinct. &nbsp;

Price said acquiring the additional sites allows for the introduction of a superior design and place-making outcome for this corner of South Melbourne, reinforcing the developer’s conviction in the area and the city-fringe residential market.

"In this vibrant corner of South Melbourne, seamlessly connected to South Yarra and the Botanic Gardens and just 1.6 &nbsp;km from the CBD, we envision an innovative, amenity-rich village that fosters community engagement with the Domain Precinct. Our goal is to provide sophisticated yet attainable residential designs that complement the prestige of this remarkable location.

“After exploring the opportunities presented from a larger, amalgamated site, Time &amp; Place has been able to unlock further design and amenity opportunities, evolving our original idea for the site into a true urban precinct that feels incredibly authentic to our brand and values."

Sales will commence on the yet-to-be-named project later in 2025, with construction set to follow shortly after.

Time & Place greenlit for new $500m apartment development overlooking Melbourne’s Botanic Gardens

Queensland apartment developer Mosaic Property Group is intensifying its commitment to the Gold Coast’s apartment market, with three new projects valued at over $570 million.

<a href="https://www.urban.com.au/developers/mosaic-property-group">Mosaic</a> is poised to shortly launch <a href="https://www.urban.com.au/new-apartments/sophia-by-mosaic-1357-gold-coast-highway-palm-beach">Sophia by Mosaic</a> in <a href="https://www.urban.com.au/developments/palm-beach-qld-4221">Palm Beach</a>—a $135 million direct beachfront&nbsp;development with 32 apartments across nine levels. The project marks Mosaic’s entry into Palm Beach following success in the fast-growing southern coastal markets of Bilinga and Kirra Beach.

In <a href="https://www.urban.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>, Mosaic continues its successful trajectory, with a fifth site acquisition underway following the recent completions of Augusta by Mosaic and Florence by Mosaic. Plans are in place for a <a href="https://www.urban.com.au/news/qld/first-look-exclusive-mosaic-secure-another-gold-coast-apartment-development-site">$185 million ultra-luxury development on The Esplanade</a>.

Further expanding in Broadbeach, Mosaic has secured its third site and submitted a development application for a $250 million, 37-level tower on Mary Avenue, offering 59 expansive half and full-floor residences.

Read more:&nbsp;<a href="https://www.urban.com.au/news/qld/first-look-exclusive-mosaic-file-plans-for-fifth-broadbeach-apartment-development">First look exclusive: Mosaic file plans for fifth Broadbeach apartment development</a>

<img alt="Mosaic Broadbeach" data-entity-type="file" data-entity-uuid="0ef8a2ac-1116-4bcb-9331-065d73278f67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-01-21%20at%2011.02.57%E2%80%AFAM.png?VersionId=v1s6B.GR6.rlRv4np8147NswQTmBHQgQ" />

Founder and Managing Director Brook Monahan said the new acquisitions underscored Mosaic's confidence in the resilience of lifestyle-driven markets and the enduring demand for its design-led, functional, and beautifully finished residences.

"The strength of these markets has been exceptional since the pandemic,"&nbsp;Monahan said.

"We continue to experience robust demand from both interstate and local downsizers who are seeking luxury apartments that offer thoughtful design, functionality, and exceptional quality.

“With limited supply and rising construction costs, Mosaic is well-positioned to lead in this market which is becoming more discerning following many stalled projects as a result of many developers not being able to deliver much awaited supply. Our long-established in-house construction arm enables us to manage costs effectively and seize key opportunities.”

&nbsp;

[smartcode_project:default project_id=145364 project_image_fid=322822]

Monahan said Sophia was shaping as an exceptional project for Palm Beach.

“Positioned on the dunes at the sought-after northern end of Palm Beach, Sophia occupies a premier beachfront site that we believe will be highly desirable. We already have a waitlist of Mosaic buyers from our existing database of previous and current owners, indicating another likely rapid sellout in this very unique location.”

Designed in collaboration with Bureau Proberts, Sophia&nbsp;will offer residents an array of five-star amenities, including a pool, spa, gym, and sauna.

“Sophia will provide a beautifully balanced lifestyle, merging iconic design with world-class amenities to cater to every resident's needs,” Monahan added.

[smartcode_project:default project_id=145364 project_image_fid=322819]

Mosaic boasts an extensive $1.4 billion portfolio on the Gold Coast with nine completed projects and an additional four currently under construction.

“We are very fortunate that our entire project portfolio is consistently near sell-out, reflecting robust and ongoing demand driven by the market’s attraction to our design-led developments.

"Buyers are drawn not only to Mosaic’s exceptional quality, prime locations, and thoughtful, resident- focused designs but also to the assurance that we deliver as promised. Our unbroken track record instils confidence, with buyers reassured that Mosaic consistently upholds its commitments.

“The trust we’ve built in our brand over many years which we will never take for granted, continues to fuel this strong demand, as clients recognise the lasting value inherent in every project. Our reputation for excellence, reliability, and&nbsp; integrity positions Mosaic as a preferred developer, making our homes some of the most highly sought-after on the market.”

Since 2012, Mosaic has completed more than 65 developments across South East Queensland, establishing itself as one of the region’s most reliable and recognised developers.

Mosaic Founder and Managing Director Brook Monahan said the new acquisitions underscored Mosaic's confidence in the resilience of lifestyle-driven markets

Mosaic set sights on Palm Beach, Burleigh Heads, Broadbeach, for new $570m apartment pipeline

Nearly four years after signalling it will be going into the mixed-use precinct sector and starting with a site in Waterloo, Fabcot, the development arm of supermarket chain Woolworths, has submitted a development application for the site.

They secured concept plan approval for the project in May last year, but the recently laid $165 million plan for the&nbsp;6,534&nbsp;sqm site at 923 Bourke Street is the one that will go up for full approval.&nbsp;

They've proposed a part eight, part six-level building designed by <a href="https://www.urban.com.au/architects/bates-smart">Bates Smart</a>&nbsp;who won the design competition for the project over the likes of Koichi Takada Architects and SJB.

The design pays homage to the cultural and natural heritage of <a href="https://www.urban.com.au/developments/waterloo-nsw-2017">Waterloo</a>, according to the documents submitted to the City of Sydney Council.

<img alt="923 - 935 Bourke Street, Waterloo woolworths" data-entity-type="file" data-entity-uuid="45b8ef6d-d22f-4ffd-88a0-de49b6f22243" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/923%20-%20935%20Bourke%20Street%2C%20Waterloo%20woolworths.png?VersionId=FZOSdZypbjQLZlTQWViAIxwNVbc80cxn" />

The precinct will be home to two residential buildings, along with a five-story commercial building. 110 one, two and three-bedroom apartments will spread across the two residential buildings, with 68 per cent designed as offering dual aspects,&nbsp;optimising natural light and ventilation

Drawing inspiration from Aboriginal Country and the area's rich history, the architectural expression features sandy-tone bricks and green hues reminiscent of the coastal landscapes and native flora that once flourished here.&nbsp;

Facade geometries, with splayed and peeled elements, echo the forms of Banksia Serrata and Melaleuca plants, further rooting the project in its local context.

<img alt="923 - 935 Bourke Street, Waterloo apartments" data-entity-type="file" data-entity-uuid="f7f48fdb-40c2-4f2a-af92-0d86023e2287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/923%20-%20935%20Bourke%20Street%2C%20Waterloo%20apartments.png?VersionId=LICj27a2inUPQ.UNUTxPYc7F5b5ahrgB" />

Residents will also benefit from communal amenities including a landscaped podium courtyard and rooftop terraces.&nbsp;

The apartments will rise from an activated ground plane where Fabcot intends to create a plaza-style precinct with&nbsp;specialty shops, cafes, restaurants, and a full-line Woolworths supermarket equipped with modern conveniences like direct-to-boot and e-commerce services.&nbsp;

The commercial building, strategically positioned at McEvoy and Bourke Streets, will cater to local workplace needs with compact, flexible office spaces.&nbsp;Its faceted design complements the surrounding streetscape while framing inviting views of the precinct’s public spaces.

<img alt="923 - 935 Bourke Street, Waterloo retail" data-entity-type="file" data-entity-uuid="db609e0e-4e08-4c5e-8541-ba5421e89346" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/923%20-%20935%20Bourke%20Street%2C%20Waterloo%20retail.png?VersionId=TqAK.Dj9UTNfl1.NHEG2pR8zks91ZmJE" />

Sustainable features include&nbsp;solar panels, EV charging stations, rainwater reuse systems, and low-carbon materials.&nbsp;

Six terraces homes to be managed by City West Housing with sit along Young Street.

Waterloo has been abuzz with activity recently.

Mirvac and John Holland <a href="https://www.urban.com.au/news/nsw/first-look-mirvac-john-holland-submit-960m-waterloo-metro-quarter-plans">revealed their near-$1 billion plans for the next stages of Waterloo Metro Quarter</a>, while across the road from the Woolworths plans, builder-developer DASCO recently got to work on&nbsp;<a href="https://www.urban.com.au/new-apartments/danks-st-district-903-921-bourke-street-waterloo-nsw-2017">Danks St District</a>, another precinct-style development with around 376 apartments across four buildings.

The design pays homeage to the cultural and natural heritage of Waterloo, according to the documents submitted to the City of Sydney Council

Woolworths unveils long-awaited Waterloo precinct with shop-top housing

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

Work is expected to resume later this year on the Nightcliff apartment complex Seabreeze in Darwin.

The project stopped construction in 2016 given the ailing Northern Territory economy and a downturn in the apartment market.

Sunbuild has reportedly lodged a reapplication permit for the site on the corner of Progress and Dick Ward drives.

Sunbuild owner Neil Sunners has begun the process of completing the five-storey, 92-apartment development.

About a third of the project had been completed, the NT News reported.

Sunners said it had taken until now for confidence in the economy to return.

“I believe the time is right in Darwin to get going again, as the economy is stronger than a few years ago and confidence is continuing to grow,” Sunners told the NT News.

He expects it will take about eight months to complete with works likely to begin around August.

The project was first mooted in 2009

Darwin, which is a small town and relies on big oil and mining projects, has seen a weak apartment market.

According to the latest data from real estate firm Raine & Horne, the number of properties hitting the market for sale in Darwin is about 75% higher than the capital city’s historical January average.

Glenn Grantham, at Raine & Horne, noted there had been a surge of vendors releasing their properties for sale in January, "after many recognised last year had been very good for capital growth.” 

In 2021, Darwin’s real estate values increased by almost 15%, its highest annual growth rate in many years.

"Many of the properties for sale are long-term rentals. 

“Given the transient nature of Darwin’s workforce, plenty of tenancy agreements end at this time of year and rather than seeking to find a new tenant, the owners are deciding to put the properties on the market for sale
.
“This decision makes plenty of sense as it is often more straightforward to show a vacant property to buyers than a home with a tenant.”

"Around 85% of buyers in Darwin are currently owner-occupiers seeking to a first home or to upgrade. 

"If there is a lease in place on a property, first home buyers and upgraders will look elsewhere.

“We’ve even seen an increase in off-market sales to tenants.

“These off-market sales not only take the tenant out of the rental market but also take the long-term investment properties out too.”

 “The silver lining is that a smaller pool of rental properties combined with strong tenant demand will push up investment yields in Darwin which is great news for investors.”

Sunbuild stopped construction at the site in 2016 

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Seabreeze, Darwin apartment block set for 2022 construction restart

The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes in the Northern Territory, according to the Real Estate Institute of Northern Territory (REINT).

It was accompanied by price rises in the Top End property market.

The March 2021 Quarter sales volumes was up a solid 51.1 percent from last year.

The unit/townhouse market showed equally strong results to start the year with sales up by 4.3 percent for the quarter and up 43.3 percent annually.&nbsp;

[smartcode_project:default project_id=29898]

The median price of a 2-bedroom unit continued to climb, up 3.1 percent this quarter to $330,000, which is a 9 percent increase on last year.

Palmerston had very solid sales in units this quarter, up 29.4 percent for the quarter with the median coming up 30.6 percent to $320,000.&nbsp;

The median price of a 3-bedroom house also saw solid gains, up 9.4 percent in the quarter to come in at $547,000. &nbsp;&nbsp;&nbsp;

Palmerston had a strong sales volumes with 115 properties sold &ndash; up 13.9 percent quarterly and up 62 percent annually. &nbsp;&nbsp;

The Palmerston median price also lifted by 7.5 percent to $500,000, which was 17.6 percent higher than March quarter 2020.

Alice Springs quietened a little with 77 transactions, up 71 percent annually in volumes, to a median house price of $469,000.

Alice Springs saw a quieter quarter for unit sales volumes, but did see a small increase in median price to $360,000.

Residential land sales continued very strongly in the March Quarter with blocks under 600sqm lifting by 128.6 percent for the quarter or 242.9 percent annually.&nbsp;

The median price was reasonably steady at $191,000.&nbsp;

&ldquo;The rental market continued to perform very strongly for investors and landlords&rdquo;, stated Quentin Kilian, chief of the Real Estate Institute of Northern Territory (REINT).&nbsp;

Rents on 3-bedroom houses rose 6 percent in the quarter to $538.50 per week, which is an annual rise of 17.3 percent. &nbsp;

Units were fairly static for March, moving up just 0.1 percent to $364.00 per week, however that is 10.3 percent up from March 2020.

Rental yields relaxed a little in March but remained very strong at 5.1 percent for houses and 5.7 percent for units. &nbsp;&nbsp;

&ldquo;We remain one of the best investor markets in Australia with the strongest rental yields of any Australian capital city, and the yields in Katherine and Alice Springs regularly exceed 6 percent&rdquo;, said Mr. Kilian.&nbsp;

Vacancy rates have tightened again from December, coming back to 1.8 percent across Greater Darwin; 1.6 percent in Palmerston and 2.4 percent in Alice Springs. &nbsp;

Unit vacancies in the rural area have hit 0 percent.&nbsp;&nbsp;

The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes according to the Real Estate Institute of Northern Territory (REINT)

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Northern Territory two bedroom unit prices up 3.1 percent to $330,000

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The Northern Territory is the safest location in the country, being the first state or territory to clinically eradicate COVID-19 and all confirmed cases having now recovered (Health Minister, Natasha Fyles) and no new notifications for some time now, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
 The borders have been locked down and travel into remote communities has been limited. These strong actions, the small population base and the adherence to the recommendations should position the Northern Territory to respond well in our economic recovery.
"How has this transitioned to the property sector?", the valuation firm asked. 
Whilst restrictions have now been eased and borders are set to reopen on 20 July, at the height of the crisis, leading local sales agents were reporting a stable level of interest for stock already on the market and open homes were replaced by private appointments – one agent noting that this had led to more qualified buyers coming through and less tyre kickers. 
Real Estate Central has shifted to online auctions using the Gavel app, resulting in a handful of sold dwellings. 
The private treaty sales campaigns have been successful with reigning REINT agent of the year Derek Hart of Elders Real Estate reporting strong activity with private treaty campaigns (source: NT News).
When considering the pipeline coming forward, it has been noted that appraisals are significantly down and the current activity is from pre-COVID-19 stock.
The report notes vendors requiring a result are still motivated towards sale, however for many the COVID-19 interruption has postponed planning to later in 2020 with a more cautious wait and see outlook.
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"With this activity we have not seen any market reductions that are out of line or increased market reductions as a result of the COVID-19 pandemic, noting that some market sectors have been performing quite poorly due to the wider market forces.
"Whilst job losses have hit much of the nation heavily, the Northern Territory is fortunately positioned due to a number of factors: we have over 21,500 public servants (source: The Office of the Commissioner for Public Employment), all of whom are still being fully paid and therefore have the ability to support their families," the valuation firm said. 
A further 5,500 are defence personnel (source: Department of Treasury and Finance). This equates to over ten per cent of the total population maintaining full employment.
In a positive for the market, long term residential tenancies have remained relatively firm.
 The larger agencies have indicated that requests for rent reduction remain quite low and rental arrears have not spiked. The short term tenancy market is very poor.
 Holiday makers have evaporated from the local scene and a number of short stay companies have noted that their forward bookings are very poor and that the 2020 dry season will be a difficult period.
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The government stimulus programs have been quite generous; approximately $100 million has been allocated to the Home Improvement Scheme, whereby the government will offer $4,000 with an owner contribution of $1,000 or $6,000 with an owner contribution of $2,000. 
This will help owners improve their properties, which may increase the value of their assets as we move past the COVID-19 slowdown.
 Recent federal government announcements about the Home Builder package (which sees eligible home owners pocket $25,000 on a $150,000 spend), coupled with existing Northern Territory government packages provides a total benefit of up to $45,000. 
"The impact so far is difficult to judge, however anecdotally some builders have seen a significant increase in enquiry," the valuation firm said. 
"So with that all said, where is the Northern Territory market? We are yet to see any firm market evidence that the COVID-19 pandemic has resulted in lower rents or capital values. 
"The big test as we look through the forward lens is the speed at which the economy can recover following the easing of restrictions and border openings," the valuation firm said. 
The report notes as Victoria battles a surge in cases, the threat of an infection in the Territory remains very real and a second wave of infection would see confidence and market sentiment evaporate.
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"The main theme for this month’s review focuses on a price point of $700,000 and which property types can be accessed at this level. The answer here in the Top End is - most," the valuation firm said. 
From a three-bedroom unit in the CBD with harbour views, to a four-bedroom, two-bathroom modern dwelling in the developing residential area of Muirhead, to a rural lifestyle property down the track with a shed with all the trimmings in Humpty Doo - this price point delivers some wide and varied property types. 
This has not always been the case and the extent of the growth experienced in the market between 2012 and 2015 and the subsequent cliff it has driven off since is well known.
A designer family home in Muirhead has recently been sold for $607,500.
The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-nt-muirhead-133923558" target="_blank">12 Saunders Street</a> (pictured below).
It features open plan living and dining area, covered alfresco patio, fenced backyard and double lock up garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/20/muirhead%202.jpg" alt="">
 
A current listing is a three bedroom apartment in Darwin City priced at $569,000.
The <a href="https://www.realestate.com.au/property-unit-nt-darwin+city-133902662" target="_blank">4004/27 Woods Street </a>home (pictured below) comprises three bedrooms, two bathrooms, open plan living and dining area and corner balcony. 
It also features gourmet kitchen, study space, two-way storeroom and city views.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/20/darwin.jpg" alt="">
Naturally, buyers cashed up and bringing a budget of $700,000 to the table are likely to see value for money especially compared to a number of years back. 
"It seemingly presents as an opportunistic time to purchase across many property types. It’s not only the safest place in Australia to live during a pandemic, but economically viable – how much worse can our economy get?
"Surely there is only upside in the Northern Territory – it’s a safe bet." 
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What a lazy $700,000 can buy in Northern Territory: HTW residential 

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Darwin homeowners and landlords are preparing for a significant surge in activity when the Northern Territory’s borders reopen in July, according to Glenn Grantham, the general manager of Raine &amp; Horne Darwin. 
“Even before the border announcement this week, we received six rapid-fire bookings for a holiday rental apartment in the Darwin CBD,” Mr Grantham said.
“Typically, at this time of year, this penthouse apartment in the stunning Oasis building books for weekends only. The six bookings are for weeklong stints.
“All six bookings have been made by southern state holidaymakers, who are seeking a winter getaway.
“With international borders currently closed, Darwin fits the bill perfectly for tourists. However, holiday accommodation will be tight.”
Darwin has a vacancy of 2%, the city’s best in seven years, while the number of vacant properties available for rent is about 50% lower than June 2019, according to data from Raine &amp; Horne Darwin.
Given this major supply shortage, Mr Grantham expects some severe price pressure on Darwin’s already competitive average rental yield of 5.8% for the remainder of 2020.  
The possibility that construction work on Charles Darwin University’s CBD Campus will begin as early as July will also add to the pressure on Darwin’s tight rental market.
“This construction project will require interstate tradespeople, who will be seeking permanent rentals,” added Mr Grantham.
Mr Grantham advised that, based on personal experience, most interstate buyers generally holiday in Darwin before migrating permanently.
“With the surge in first-time visitors and based on the city’s real estate history, plenty of these tourists will make a permanent shift to Darwin.
“The ‘try before you buy’ approach will work well again for the property market as tourists will land in Darwin in the dry season, which is a beautiful time of year with average days of 32°Celsius and no humidity.
“For those vendors considering a sale, be prepared for an influx of interstate purchasers between now and September,” Mr Grantham advised. 
The border is scheduled to reopen on July 17 of this year.
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NT border reopening to drive demand for Darwin property

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In the lead up to the Northern Territory government election in August this year, there has been a major focus on the current situation regarding crime in Central Australia, with many locals believing it has worsened over recent months, according to a recent Herron Todd White (HTW) residential report. 
<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</div>
"It seems to be the hottest topic of conversation around town and on local social media platforms, apart from COVID-19 of course. People are asking the question regarding what impact (if any) this increase in crime might have on property values," the valuation firm said. 
Whilst there is anecdotal evidence of people leaving town because they have had enough of the increasing crime and other social issues, it has not become apparent yet that it has impacted on the property market. That is not to say it might be the cause of a downturn in the coming months.
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The other factor looming large as a real threat to the health of the local economy (no pun intended) is of course COVID-19. At the time of writing there is uncertainty about exactly how big the impact will be from this crisis, the report noted. 
Central Australia has long relied on the tourism industry as a major employer and revenue generator. With travel restrictions imposed already and the likelihood of more stringent restrictions to come, the immediate future of the tourism industry does not look bright. These restrictions could not come at a worse time, leading into winter, which is peak tourist season.
"The longer term impacts of these events is difficult to forecast, however with a market that is already in a fragile state, it could prompt a downturn in values as people sell up and leave town or are forced into selling due to financial circumstances," the valuation firm said. 
"With no significant capital growth being experienced in recent years, a sudden influx of properties being listed for sale is likely to create an over-supply.
"The coming months leading up to August 2020 and beyond have the potential to shape the residential market in Alice Springs for years to come." 
A recent sale in the Alice Springs region is a four bedroom in Gillen. 
The <a href="https://www.realestate.com.au/sold/property-house-nt-gillen-133053974" target="_blank">16 Underdown Street</a> family home (pictured below) which includes a granny flat was sold for $425,000. 
The home features open plan living and dining, games room, alfresco courtyard area and double carport. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/gillen%201.jpg" alt="">
 
A current listing is a three bedroom house in Larapinta priced at $329,000.
The <a href="https://www.realestate.com.au/property-house-nt-larapinta-133561842" target="_blank">9 Saltwell Street </a>home (pictured below) features open plan kitchen and dining, outdoor veranda and carpeted bedrooms.
It also features kitchen with gas cooking, separate toilet and garden space. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/larapinta%201.jpg" alt="">
<div>Note regards COVID-19</div>
<div>
This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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How will COVID-10 pandemic impact Alice Springs property market: HTW residential 

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<div>The greater Darwin residential market, like other cities, faces many influences and drivers of market sentiment and ultimately price movement, according to a recent Herron Todd White (HTW) residential report. </div>
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<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. </div>
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To begin, and more prominent for all regions and sectors of Australia, is the impending economic fallout from COVID-19 or Coronavirus.
"Without taking away from the seriousness and current health implications of this, we see the wider economic fallout from this virus having a much wider reaching and larger impact on our property market and all markets in general.
"Without sounding too negative, sentiment will take a battering in the short term, with the long term implications still unknown at this stage. Uncertain times ahead!" the valuation firm said. 
Secondly, and most applicable to Territory markets, is population growth, the report noted. The growth or more correctly, lack thereof, has a very big say in how our local market will go. 
As noted in previous Month in Review issues, Darwin and the wider Territory’s population has been either steady or in decline over the past two to three years, where all other states experienced growth. 
Unfortunately not only does this create a smaller pool of buyers, but local community sentiment takes a hit. While the reduced population number is small, it’s not an increase. People and businesses see this as a negative.
"While we see the long term (two years plus) outlook as relatively positive due to large scale projects currently in the pipeline, this does not relieve current sentiment in the short term.
"Ultimately this leads to a reduction in prices across all sectors of the Darwin property market. We currently have the lowest median house price at $460,065 as at December 2019 (source: REINT) of any capital city and a big reason is due to lack of growth in our population," the valuation firm said. 
A four bedroom house in Darwin's northern suburb Leanyer is currently on the market with $469,000 hopes. 
The <a href="https://www.realestate.com.au/property-house-nt-leanyer-133068594" target="_blank">2 Ridgehaven Circuit</a> home (pictured below) comes with two bathrooms, family room, kitchen with electric cooking and double carport. 
It also features covered patio area, in ground pool and garden shed. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/leanyer.jpg" alt="">
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The cash rate sits at 0.25 percent (as of 19 March 2020), the lowest in history for our country and with the impending effects of Coronavirus, is widely tipped to reduce further.
"We saw an uplift in sales volumes for the December quarter with 33.3 percent for dwellings sales across Darwin overall (source: REINT) yet no change, or zero percent in total dollar sales volumes for the quarter. 
"What this is telling us is that the Territory market looks to be turning with regard to volume and we see this trend as likely to continue with lower median home values showing why we can have an uplift of one-third in sales volumes yet no increase in overall value.
"We see this as a shining light and hopefully a shift in market sentiment that will continue," the valuation firm commented.
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A driver of the increased volumes is also the investor market. Corelogic’s March 2020 report shows Darwin as having the strongest gross residential yields of all capital cities at 5.9 percent.
 Whilst most owners are experiencing low or no capital growth, they are underpinned by positively geared assets, a great incentive for those looking to get into the market or avoid the low yields of other capital cities. 
With the financial market and stock exchange facing volatility, bricks and mortar is likely to offer more security to investors.
It is hard to look past the current situation of COVID-19. This is causing a raft of issues that will have wider reaching implications for the Territory, the report noted. 
Tourism is something that coming into the peak dry season (southern winter months) allows local businesses to really thrive on the back of warm weather. With the recent travel bans, lack of domestic travel and social distancing concerns, it is hard to imagine the local sentiment garnering any positivity.
The Northern Territory government is delivering a $65 million Jobs Rescue and Recovery Package (source: https://business.nt.gov.au/recovery) stimulus for Territorians that will ease some pain in the short term however with business looking into a lean few weeks and months ahead, the outlook is not great. 
"We see this as having a direct impact on local property markets, particularly commercial, as tenants and businesses feel this pinch. The positive upside is for the residential market where home renovations can be carried out and largely funded by the government," the valuation firm said. 
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Speaking locally with agents and reflecting on sale data, we are seeing the uptake in sales volumes being driven by first home buyers, reflecting the Commonwealth Government’s guarantor loan scheme where first home buyers can buy properties up to $375,000. 
"We are seeing properties of value with the most activity, with 54% of sales occurring at a price below $350,000 in the inner Darwin unit market," the valuation firm said. 
The inner Darwin unit market has shown a 4.4 percent increase on the December quarter and 13.1 percent on the year in recorded sales volumes (source: REINT).
A waterfront apartment in Darwin City has recently been sold for $402,000.
The <a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-133424434" target="_blank">5005/5 Anchorage Court </a>home (pictured below) comprises two bedrooms, two bathrooms, open plan living and dining room and private patio. 
It also features internal laundry, two basement car parks and complex swimming pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/darwin%20city%201.jpg" alt="">
Local commentary around is showing an increase in the younger professional market and first home buyers keen to take advantage of the great schemes on offer. 
"As we continue to ride out the economic impact of the current global economic situation, we believe that this sentiment will continue for our first home buyers throughout 2020,: the valuation firm stated. 
All external issues aside, one factor of the market that we continue to rely on is the strength of the coastal northern suburbs market which continues to buck the trend and ride out outside factors. This is evident with a 61 percent increase in sales volumes for dwellings on the quarter and an increase in median value of 0.4 percent. 
This is not directly attributed to falling prices or cheaper properties, with 33 percent of these properties having a value of more than $600,000. While these are well off the peak of the market, to echo the earlier point, if there is volume first, higher values will come second when an economy begins to turn.
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"Generally speaking, wide sweeping societal changes are coming and some are now in force with the key element being the current Coronavirus pandemic. This is tipped to have a huge impact on the wider economy with the brunt of this yet to be felt. However, we are yet to see any direct impact locally here in the property market, although it is early days. 
"Historically, when a stock market crashes we see an asset such as a home being far more illiquid than shares, not to mention that people will always need a place to live. So while we may see fewer transactions in the market, locally the property values may remain insulated from such losses, but this remains to be seen." 
<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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Darwin property market yet to see direct impact of COVID-19 pandemic: HTW residential 

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2020 is shaping up to be a continuation of the previous tough few years for the Darwin residential property market with a number of factors still contributing to the current financial position of the Territory, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
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The report notes with some long-term projects getting the green light and more in discussion, the flow on effect will not be seen in 2020 and sentiment will continue to remain weak across the residential market and wider economy in general.
With the completion of the construction phase of the Ichthys Gas project and remaining construction workers now onto the next project, the focus shifts to what is next for Darwin and the Territory overall, as new projects are needed.
 The $200 million CBD revitalisation including the newly announced CDU campus is well underway. 
"It is hoped that with a more vibrant city as well as more bodies on the ground, will have a flow on effect for businesses and therefore uptake in CBD dwellings. This will have a direct positive impact on the residential unit market, with increased demand for rental accommodation in the CBD," the valuation firm said. 
A two bedroom apartment in Darwin City has recently been sold for $390,000 (pictured below).
The near new apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-124636170" target="_blank">P01/16 Harvey Street</a> comes with living and dining area, wrap around verandah and centrepiece kitchen. 
The complex features lifestyle facilities including resort style pool, gymnasium and children's play area. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/darwin%20city.jpg" alt="">
Further projects such as the announcement of the $400 million ship lift facility, the $1.05 billion Todd Gold mine construction, $200 million Westin Hotel project, the $1.45 billion project Sea Dragon prawn farm and the longer term $20 billion sun cable project in Tenant Creek due to commence in 2023 that will supply 20 percent of Singapore’s electricity.
"While these are positive announcements and major drivers of the economy long term, it is difficult to see an immediate positive impact in 2020 on the residential property space," the valuation firm said. 
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"Looking at sales figures across 2019 it becomes clear that while sales volume appears to have increased particularly through the back end of the year, we have not seen any increase in equity and in most cases people are in a negative equity position," the valuation firm said. 
While property prices remain low it makes it more difficult for local or smaller investors to re-enter the market and add to their portfolio. The REINT have reported that median house price as at the end of Sept 2019 of $460,000 is in line with 2009 prices, while median unit prices for greater Darwin of $294,000 is in line with March 2007.
A single level family home in Woodroffe (pictured below) is currently on the market with a price guide of $452,000.
The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-nt-woodroffe-132863710" target="_blank">38 Baldwin Drive</a>. 
It comes with L-shaped living-dining area, centre kitchen, and alfresco patio overlooking lawns and in-ground pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/woodroffe.jpg" alt="">
"Looking into the Crystal ball for 2020, we see the most action in the residential market will be first home owners. As prices continue to soften and in conjunction with the newly released First Home owner deposit scheme, we believe that some of the saturated unit market will be absorbed by first home owners and entry level homes due to the low price point. 
"This Federal Government scheme, which allows a purchase for Territory dwellings of up to $375,000 with a five per cent deposit, should take some of the lower price point stock off the market," the valuation firm said. 
The report notes the grants on offer certainly are not limited to first home owners.
"Currently in the territory we have on offer, a $20,000 build bonus scheme if buying or building a new home from February 2019, limited to the first 600 applicants, a first home owner grant of $10,000 on new homes, Territory home owner discount, with up to $18,500 off stamp duty on the purchase of either a new or existing home for new home owners in the Territory and finally a $10,000 home renovation grant if buying your first home is an existing dwelling," the valuation firm added. 
Only 200 of the 600 build bonus applications have been exhausted so there remains a strong stimulus to still be seen in the market.
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"It’s not all doom and gloom! Darwin presents great opportunity for the investor market with the highest yields for any capital city in the country. 
"Investors can typically expect a gross return of over five per cent across both units and dwellings and with the lowest median house prices in the country at year end 2019, the entry into the property market is easier and in most cases a positively geared asset," the valuation firm concluded.
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Darwin property market expected remain weak in 2020: HTW residential 

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The wandering eye for grandeur and a prestige address in the greater Darwin area leads in one of two directions – water views or acreage, according to a recent Herron Todd White (HTW) residential report. 
The report suggests long held premium locations of Larrakeyah, Cullen Bay, Fannie Bay and Bayview remain the sought-after water locations with ocean or marina views.
Coming into more prominence are tightly held pockets of Nightcliff that offer Casuarina foreshore views and sections of Stuart Park that overlook Frances Bay and the CBD.
"Knuckey Lagoon still presents as the premium rural residential location of the Darwin market," the valuation firm said. 
"Nearby access to all urban infrastructures balanced with space and country feel are the drivers in this location."
There have been 19 residential sales at arm’s length above $1 million in the 2019 calendar year (to mid-October) for the Darwin, Palmerston and rural residential areas, including a mix of dwelling and strata sales, so a fraction under two per month.
The report notes the market for prestige dwellings in Darwin’s inner suburbs has softened over recent times.
This market has been less volatile than mortgage belt locations and continues to be underpinned by proximity to the CBD and standard of dwelling.
Large allotments and tropical style dwellings have remained popular for purchasers. Without question the ability for owners to hold property in poorer market times has helped these market sections.
"We must highlight that this segment of the market has not been quarantined from the reductions in the wider market; re-sales of the same dwelling have shown reductions in the order of 10 to 15%," the valuation firm said. 
The Darwin prestige market beyond $2 million has been very thinly traded in recent years.
The most activity in the market has been for new builds, where older dwellings have been purchased and demolished.
Notable locations for these projects have included East Point Road in Fannie Bay, Larrakeyah Terrace in Larrakeyah and to the marina in Cullen Bay.
Many of these projects have exceeded land and build of $5 million.
"These projects, while not sale transactions, provide open market evidence to the activity in this market segment and we specifically note this is not uncommon within the local market place which is dominated by owner-occupiers in a very tightly held market segment," the valuation firm said. 
The highest residential sale in the rural residential market this year was achieved in Knuckey Lagoon, an acreage allotment with a number of dwellings and sheds that exceeded $4 million.
The highest strata sale in the Darwin area was for one of the colonial style, stone townhouses at <a href="https://www.realestate.com.au/sold/property-villa-nt-darwin+city-130487262" target="_blank">1/78 Esplanade </a>(pictured below) in the CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/78%20esplanade.jpg" alt="">
The sale was negotiated by Seth Chin of Chin &amp; Associates at $2.3 million in April following an open marketing campaign.
Chin said: "The market in Cullen Bay has been active with enquiry levels remaining consistent from local owner-occupiers. With a number of our key listings ranging from $2 million to $3 million we have seen a significant amount of inspections, however given the price point and current broader market conditions these properties require extended marketing periods."
The HTW report also looked at other eye-catching properties on the market. 
"For those looking at inner city living, there are penthouse units available at Evolution, arguably one of Darwin’s best CBD addresses, with extensive common areas and views that capture the whole CBD. Asking prices are $3.5 million with David Booth Real Estate," the valuation firm said. 
Other attractive listings are located on the Marina and Sea Wall at Cullen Bay, including<a href="https://www.realestate.com.au/property-house-nt-cullen+bay-131914310" target="_blank"> 104 Cullen Bay Crescent</a> (pictured below) with Pacific Property seeking offers over $2.95 million, offering uninterrupted sea views and a large, five-bedroom, three-bathroom dwelling.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/104%20cullen%20bay.jpg" alt="">
"It’s certainly not all doom and gloom in the Darwin market. High quality property is still changing hands and premium builders and architects have projects on the drawing board as we see the shape of the prestige market move to modern homes mixed with the essential tropical touch of our neighbourhood," the valuation firm concluded. 
"Without doubt, there will be more to talk about in 2020 as the Darwin market continues to recover and transition to the next stage of the cycle."
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Water views or acreage - the two directions of Darwin's prestige market: HTW residential 

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Things are hotting up in the Red Centre, but sadly that is true only for the weather and the real estate market in Alice Springs remains decidedly cool, according to a recent Herron Todd White (HTW) residential report. 
The report notes sales numbers continue to show a downward trend and there has been minimal change in median prices for both units and houses.
Demand continues to be somewhat soft and the tightening of bank lending policies in the wake of the Royal Commission has further impacted on a market that is lacking impetus.
"Houses at the lower end of the market ($350,000 to $400,000) continue to move quickly if reasonably priced, with some bargains out there for those not scared of a bit of hard work, but the lack of capital gain in the market place is proving to be a deterrent to flippers," the valuation firm said. 
A recent sale was a four bedroom house in Araluen. 
The home at <a href="https://www.realestate.com.au/sold/property-house-nt-araluen-128025878" target="_blank">39 Kempeana Crescent </a>(pictured below) comprises four bedrooms, two tiled living areas, open plan kitchen and back veranda. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/araluen.jpg" alt="">
Older two-bedroom units continue to slide in value, due in part to the recent abundance of new or near new units coming on line in recent years.
A two bedroom room unit at <a href="https://www.realestate.com.au/sold/property-unit-nt-gillen-131546194" target="_blank">25/111 Bloomfield Street, Gillen</a> (pictured below) has been sold for $225,500.
The unit comprises two upstairs bedrooms, open plan living area, and undercover parking.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/gillen.jpg" alt="">
This oversupply has seen a number of unit developments stall or be deferred in the absence of sufficient pre-sales.
Locals can expect to see cranes in the skyline in the future however as the tender for construction of a five-level, 70-unit accommodation complex for hospital staff has been awarded.
Construction is believed to be commencing in the first half of 2020.
During construction, the project is expected to provide 240 jobs, which will provide a boost to the local economy, at least in the short term.
Tourism operators have experienced a bumper season, purportedly on the back of a rush of visitors wanting to climb the rock before the Uluru climb was permanently closed in late October.
"The area has gained both positive and negative coverage from the media during this time but in the absence of any catalyst for migration to the area, the population base is expected to remain largely stagnant," the valuation firm said. 
"In the coming months, there seems little to get excited about as far as an upturn in the real estate market is concerned and the market is expected to continue to bounce along at (or near) the bottom in the foreseeable future."
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Alice Springs property sales numbers on a downward trend: HTW residential 

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A Rosbery, Northern Territory mortgagee has been listed for $300,000 and is now under offer.
The house last sold for $379,000 in 2008.
It has since been listed in 2010 when it sought $465,000 and now in this latest campaign which has run since October 2018.
Michael Keith and Tim Mackenzie of O'Donoghues are marketing the property.
Situated at <a href="https://www.realestate.com.au/property-house-nt-rosebery-129631770" target="_blank">1 Granites Drive</a>, the home was originally listed for $399,000 but after an unsuccessful October 2019 auction, it is now seeking $300,000.
Set on 801 square metres, the three bedroom one bathroom house was listed as a rental seeking $385 per week in 2013.
Built in 1988, it is located only a short stroll to the Rosebery Primary School as well as Palmerston College, there are also shops close by and just minutes drive to the new Bakewell Shopping Centre, as well as the Palmerston CBD.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="https://www.urban.com.au/expert-insights/buying/4311-rosebery-nt" target="_blank">Rosebery, NT</a> is $502,500, according to the latest CoreLogic data.
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