Three years ago, credit reporting giant Equifax identified a need to provide transparency to the development market in Australia.

In 2022 they launched iCIRT, a voluntary rating tool in which developers, builders and construction consultants all over Australia could apply to become a credited iCIRT rated company.

Since then the likes of Sekisui House, Stockland and Deicorp have all become an iCIRT rated developers.

We recently caught up with Brad Walters, Head of Product and Rating Services at Equifax, to talk more about iCIRT.

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<h2>What is iCIRT?</h2>

iCIRT stands for the&nbsp;Independent Construction Industry Rating Tool.

iCIRT ratings were developed in consultation with the government, regulators, industry and market associations to help purchasers find trusted residential building professionals.

<h2>How does it help buyers?</h2>

"iCIRT was designed to support and improve transparency and to provide buyers and investors with independent information that they can turn to that could give them confidence," Walters says.

The iCIRT rating system is voluntary for any developer, builder or construction consultant&nbsp;in Australia.&nbsp;

The process of becoming iCIRT-rated involves Equifax undertaking a detailed assessment of the company, from previous developments and experience to financial records and company structure.

Following the assessment, Equifax provide an iCIRT rating for the company between zero to five stars - the more starts, the more confidence in the developer.

A 3-gold star rating or higher indicates a trustworthy business with a demonstrated ability to honour its commitments and fix defects.

<h2>How do I find iCIRT-rated businesses?</h2>

iCIRT has a register&nbsp;<a href="https://www.urban.com.au/news/nsw/how-icirt-is-changing-the-off-the-plan-industry-for-the-better-the-sydney-developers-to-first-secure-the-accreditation">of all property professionals</a>, including developers and builders, who are iCIRT rated.

Some 130 companies now have an iCIRT rating.

Michael Bird

How iCIRT is helping build confidence in the off the plan apartment market

Sekisui House Australia has commenced construction on the latest stage of Sanctuary, its new $2 billion waterfront community in Wentworth Point.

The mixed-use development will add 2,100 homes to a former industrial area, as well as create a new dynamic waterside precinct.

The latest stage, Willow, will be one of seven buildings in the burgeoning development.

[smartcode_project:default project_id=6969 project_image_fid=228634]

Sanctuary’s masterplan, designed by architecture and design studio TURNER, will span 9.4 hectares across six stages.

The masterplan design also allows for future public transport links within its streetscape, including the $602.4 million megaproject - Parramatta Light Rail, the delivery of which will transform the suburb.

Situated along the waterfront of <a href="https://www.urban.com.au/developments/wentworth-point-nsw-2127">Wentworth Point</a>, the latest stage of <a href="https://www.urban.com.au/new-apartments/sanctuary-wentworth-point-willow-release-11-wattlebird-road-wentworth-point">Sanctuary</a>, Willow features 309 apartments, 100 of which have been snapped up.

[smartcode_project:default project_id=6969 project_image_fid=228637]

Willow’s architectural design elevates the natural surroundings, offering most apartments with dual aspects that provide expansive views spanning Newington Nature Reserve to the Parramatta River, extending to the Blue Mountains. &nbsp;

The design of the new stage is influenced by the curves of the Parramatta River, the vibrant colours of the nearby parklands, and the patterns found in native flora. The design philosophy blends nature into the core of the development, fostering a harmonious connection between residents and their surroundings.

Sanctuary will feature an organic-shaped lagoon pool at the centre of the development, forming a 'green heart' with extensive landscaping and gardens.

[smartcode_project:default project_id=6969 project_image_fid=228561]

Sekisui House Australia's Paul Wainwright said people see the appeal of living at one of Sydney’s last and largest absolute north-facing riverfront apartment addresses.

"It’s the final piece of the jigsaw in the reimagining of the Parramatta River at Sydney’s heart," Wainwright says.

"Sanctuary also provides extensive public open space and a range of facilities, which is a major drawcard."

<a href="https://www.urban.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, a&nbsp;4-Gold Star, iCIRT-rated developer, is also working on masterplanned precinct <a href="https://www.urban.com.au/new-apartments/the-orchards-veue-parkside-15-19-spurway-drive-norwest">The Orchards</a> in <a href="https://www.urban.com.au/developments/norwest-nsw-2153">Norwest</a> and Melrose Park in New South Wales, as well as <a href="https://www.urban.com.au/new-apartments/the-allere-collection-west-village-mollison-street-west-end">West Village</a> in Brisbane.

[smartcode_project_cta:default project_id=6969]

Sekisui House Australia's Paul Wainwright said people see the appeal of living at one of Sydney’s last and largest absolute north-facing riverfront apartment addresses

Joel Robinson

Construction begins on Sekisui's Willow apartments at Wentworth Point masterplan Sanctuary

Muse Potts Point, the rare new apartment development in the <a href="https://www.urban.com.au/developments/potts-point-nsw-2011">harbourside suburb</a>, has kicked off its construction.

Developer <a href="https://www.urban.com.au/developers/thirdi-group">Third.i</a> and acquisition partner Toohey Miller have officially broken ground on the <a href="https://www.urban.com.au/new-apartments/muse-potts-point-30a-34-brougham-street-potts-point">WMK Architecture-designed building</a> that comprises just 13 one, two and three-bedroom apartments.

The apartments, with interiors crafted by Mathieson Architects, offer terraces with extensive views of the harbour and city skyline. The views are best captured from the communal resident rooftop which features a swimming pool and seating areas.

[smartcode_project:default project_id=112613 project_image_fid=231686]

Dilcara has been appointed to deliver Muse Potts Point, with construction anticipated to complete by early 2026. Third.i and Dilcare have been working together for 15 years. Their joint project portfolio includes recent developments such as Third.i’s Botany Road project in Waterloo, Soho in Surry Hills, Cavallo in Kensington, and most recently the new Third.i head office in Crows Nest.

Muse is set to play a pivotal role in transforming Brougham Street, adding to a total of 35 new boutique apartments planned across approved and proposed developments.

Recent sales data shows that apartments on Brougham Street, both new and second-hand, currently average around $45,000 per square metre. In comparison, properties on Victoria Street average $70,000 per square metre, while those on Macleay Street/Darlinghurst Road range from $62,000 to $80,000 per square metre.

[smartcode_project:default project_id=112613 project_image_fid=231687]

Luke Berry, Third.i. Co-Founder, said&nbsp;Muse Potts Point is set to redefine urban living with its "exceptional design and breathtaking views."

"We are excited to enhance the area’s iconic landscape and offer a unique lifestyle experience, blending sophistication with the dynamic spirit of Muse’s surroundings," Berry said.

"We are thrilled to embark on this groundbreaking journey and we can't wait to bring this project to fruition."

Based on recent data, Eastern Sydney suburbs, including Potts Point, continue to attract local buyers seeking premium properties in heritage locations with access to a variety of lifestyle amenities. Demand remains steady among prestige downsizers seeking their next home in Sydney’s East, with Potts Point gaining popularity due to its growth potential and local cultural offerings.

[smartcode_project:default project_id=112613 project_image_fid=231690]

Berry emphasised the current opportunity for buyers to invest in Potts Point.

“Now is the time to invest in Potts Point," Berry added.

"With ongoing regeneration and community upgrades, property values are expected to rise. Sales are increasing on popular streets like Victoria and Macleay, while Brougham Street properties are priced at about a third to half the cost per square metre.

"Muse Potts Point offers access to the area's lifestyle at a lower price, with additional rooftop views. High interest in premium properties makes this a unique opportunity to enjoy Potts Point’s exceptional offerings at an attractive value.”

Muse Potts Point is set to complete in March 2026 and welcome residents shortly after.

[smartcode_project_cta:default project_id=112613]

Luke Berry, Third.i. Co-Founder, said Muse Potts Point is set to redefine urban living with its "exceptional design and breathtaking views."

Construction commences at Muse Potts Point new apartments

Construction has officially commenced at No. 21 Broadbeach, the latest luxury apartment development in the <a href="https://www.urban.com.au/developments/broadbeach-qld-4218">popular Gold Coast suburb</a>.

The 20-level joint venture of <a href="https://www.urban.com.au/developers/qny-group">QNY Group</a> and <a href="https://www.urban.com.au/developers/glenvill">Glenvill Developments</a> comprises just 16 four-bedroom apartments that start at $6.2 million. 13 of the apartments are full floor, while there are two 1.5-level apartments and one three-level penthouse which has its own rooftop terrace and private pool.

The corner site at <a href="https://www.urban.com.au/new-apartments/21-broadbeach-boulevard-broadbeach">21 Broadbeach Boulevard</a>, on the corner of Armrick Avenue, offers uninterrupted 270 to 360-degree corridor views capturing <a href="https://www.urban.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> to <a href="https://www.urban.com.au/developments/coolangatta-qld-4225">Coolangatta</a> as well as the hinterland.

The design is a collaboration between&nbsp;CARR and BDA, who have focussed their designs on the coastal location. Along with cascading landscaping, they've utilised natural materials including stone, timber floor, brick detailing, and off-form concrete.

<img alt="No.21 Broadbeach" data-entity-type="file" data-entity-uuid="9134092a-c55c-48a3-ad73-661ed30d3178" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-19%20at%2011.33.29%E2%80%AFAM.png?VersionId=xpxTFH2v2jnDwdC58Sw9dyFdfYRplo.G" />

Glenvill Developments CEO Len Warson says No. 21 Broadbeach will draw on Glenvill’s six decades of experience at the forefront of Australian residential design to be delivered to an unprecedented standard.

“This project is the first of its kind for Glenvill as it represents the first of what I envision to be many successful and enduring projects on the Gold Coast,” Warson says.

“No. 21 Broadbeach stands in a league of its own with an unbeatable beachfront location on what is one of the best residential sites on the Gold Coast offering an open north-easterly aspect, superb, unobstructed view lines, and a prime beach frontage in a quiet locale. There is nothing quite like it.”

&nbsp;

Warson says every aspect has been crafted to be enduring and to stand the test of time, with refined interiors featuring sophisticated high-quality finishes.

“The apartments have an understated elegance achieved by utilising design elements and quality natural materials that are timeless rather than trendy, ensuring the residences are future classics,” Warson added.

“With a focus on lifestyle accompanied by a high level of amenity, residents will have access to a full level of recreation with a glass edge heated pool overlooking the beach, a communal work area and lounge room, pool house with dining room, gymnasium, sauna, spa, children’s play area and two outdoor dining areas.”

Located on level two of the building, the recreation area has a pool with views over the beach.

QNY Group Director Anthony Quinn says the 21 Broadbeach Blvd site has long been one of the best on the Gold Coast, and he is thrilled to see the project come to fruition.

“With its prime position at the end of a no-through road along with a beachfront location with breathtaking view corridors there is no property on the Gold Coast quite like this,” Quinn says.

“I have had ambitions to develop this site for as long as I can remember, so it is incredibly satisfying to officially be commencing construction activity on site in the current economic climate, and to see this development taking shape.

“With construction now commencing this week, and the sales campaign anticipated to be launching in the coming months, the project will soon become a hive of activity, allowing prospective buyers the exciting opportunity to watch their building come to life.

Residents are expected to see the project rising out of the ground Q1 2025, and to be moving in by Q4 2026.

[smartcode_project_cta:default project_id=111843]

Residents are expected to see the project rising out of the ground Q1 2025, and to be moving in by Q4 2026

Construction kicks off at luxury Broadbeach apartment development, No. 21 Broadbeach

A new apartment tower has been pitched for a "key part of the Fortitude Valley which has not to date received as much attention and opportunity as other parts of the <a href="https://www.urban.com.au/developments/fortitude-valley-qld-4006">Fortitude Valley</a> area."

The plans now with the <a href="https://www.urban.com.au/developments/brisbane-qld">Brisbane</a> City Council are for a 28-level tower on a 2,270 sqm site across&nbsp;286-300 St Pauls Terrace, bordering <a href="https://www.urban.com.au/developments/spring-hill-qld-4000">Spring Hill</a>.

Mewing Planning Consultants noted in their Town Planning Assessment that the Fortitude Valley and Spring Hill locality is currently undergoing a substantial transformation and revitalisation as a result of new residential and commercial developments.

"The site is ideally positioned to contribute to the creation of a vibrant, mixed-use precinct in Fortitude Valley that offers a diversity of residential living opportunities and local retail services, and positively contributes to the visual amenity and character of the area."

<img alt="Fortitude" data-entity-type="file" data-entity-uuid="c6570aca-c3e6-4dbd-853f-9280bfe8015a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-18%20at%2012.58.30%E2%80%AFPM.png?VersionId=VJ1tX7_VReHLWBilnrVrQdRO6PN2dggo" />

Designed by&nbsp;McFarland Architects, the tower is set to comprise 164 one, two, three and four-bedroom apartments. The 1,152 sqm of communal space incorporates a gym on the podium level and a rooftop with a swimming pool, spa, rec rec room, barbecue facilities, and various seating areas.

Just 14 one-bed apartments have been pitched. They'll feature alongside 48 two-beds, 62 three-beds, and 40 four-bedroom apartments.

Mewing said the residential breakdown delivers a diversity of housing product to cater for different life stages, needs, and living&nbsp;arrangements.

"It provides housing in a needed location, which is well located to provide housing supply."

All units have been afforded with substantially sized and functional private open space areas that are directly accessible from the main living area of the units and primarily overlook Warry Street, St Pauls Terrace, or Kennigo Street.

<img alt="Fortitude" data-entity-type="file" data-entity-uuid="4d01ff43-cd66-4b06-91bc-93c6dc30ff33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202024-09-18%20at%2012.57.42%E2%80%AFPM.png?VersionId=HrpL6rEPl92Q9Ti0Km_Tf8_95fxMQExI" />

The building, 300m from the Fortitude Valley Train Station, will be anchored by three retail tenancies and will provide a total of 157 car parking spaces in the three basement levels. 205 bicycle spaces in a secure storage room will share the podium level with the gym.

The plans were submitted by Luxe Property Investments, an entity directed by Tony Jo.

Mewing added that the proposed scale of the tower is coherent with, and a lesser number of levels than, the existing and emerging building height context of St Pauls Terrace that establishes higher density mixed-use development (up to 30 levels), consistent with the overall outcomes of the Spring Hill Neighbourhood Plan Code, which seeks development to provide a height transition to the Principal Centre Zoned land on the opposite side of St Pauls Terrace.

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