Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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?

ANZ believes the Reserve Bank is in no rush to move again.

Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.

That positioning, in ANZ’s view, makes a June rate hike unlikely.

The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.

The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.

As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.

Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.

Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.

The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.

Ultimately, most members leaned toward the inflation side of that equation.

Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.

That’s important.

While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.

ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.

That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.

However, where ANZ diverges from the RBA is on the outlook for activity.

The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.

ANZ is less convinced.

The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.

That divergence matters because it shifts the balance of risk.

If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.

It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.

The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.

On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.

For now, the Board is choosing to wait.

But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.

In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.

For borrowers, it reinforces the reality that relief is not imminent.

And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.

According to ANZ, it is a balance that is becoming increasingly difficult to maintain.

RBA to hold rates for "prolonged period" rather than hikes: ANZ

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Developer Central Equity have completed their award-winning residential Melbourne CBD tower Melbourne Grand.

They had Multiplex deliver the 58 level high-rise apartment building which won the 2020 HIA Victorian Apartment Complex of the Year award.

High-profile architects Guilford Bell + Graham Fisher designed the 646 apartment block at 560 Lonsdale Street, standing some 200 metres above street level.

Apartments are still available in the completed building. One bedroom apartments are priced from $489,000, two beds from $569,000 and three bedroom apartments from $899,000.

[smartcode_project:default project_id=3490]

One of Melbourne Grand's most impressive feature is its exclusive Lonsdale Club located on Level 10. The Lonsdale Club is dedicated to exclusive resident facilities including a lounge, banquet room, coffee bar, theatre, indoor pool, sauna, gym, yoga studio, BBQs and an outdoor area.

Part of the project saw one of Melbourne’s oldest buildings restored. The heritage-listed neighbouring 556 Lonsdale Street was constructed between 1855 and 1878 and was integrated into the Melbourne Grand development.

<a href="/buildings/melbourne-grand-560-lonsdale-street-melbourne"><img alt="" height="812" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_grand_3.jpg" width="1200"></a>

“We are thrilled to deliver this landmark high-rise apartment tower for Central Equity whilst simultaneously helping preserve some of Melbourne’s history with the restoration of 556 Lonsdale Street," Graham Cottam, regional managing director of Multiplex Victoria said.

Work on the Melbourne Grand project spanned two years and nine months commencing in January 2018, and according to Multiplex over 2,400 people worked on site throughout construction.

<a href="/buildings/melbourne-grand-560-lonsdale-street-melbourne"><img alt="" height="816" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_grand_2.jpg" width="1200"></a>

 

Construction challenges included working within the tight confines of one of Melbourne’s busy pedestrian laneways and legal precinct. At the top of the building, the dynamic curved shape of the floorplate required multiple change overs.

The apartments boast spacious living areas, high ceilings and floor-to-ceiling, double- glazed windows allowing sweeping views of Melbourne’s CBD. Kitchens include composite stone benchtops, feature lighting, German tapware and Miele appliances.

Melbourne Grand represents Multiplex’s 18th project for developer Central Equity, with the contractor having delivered many of Central Equity’s award-winning residential towers in Melbourne including Southbank Place, Southbank Grand and Southbank One.

 

 

 

 

 
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Central Equity complete $470 million Melbourne Grand high-rise tower

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A penthouse in the luxury Melbourne Square development in Southbank, has sold for $3,434,000.

The four bedroom penthouse sits in the part of the 68 level tower called The Coulture Series, which begins from level 55 through to 68 and offers the three to five bedroom apartments.

[smartcode_project:default project_id=2929]

The Coulture Series apartments can be tailor by the buyer before the apartment constructions begins, in collaboration with Cox Architecture, Carr Design and HUB Furniture.

The 64 level penthouse that just sold has four ensuited bedrooms and large living and dining areas with views across Melbourne.

<img alt="" height="794" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_square_penthouse_bedroom.jpg" width="1200">

CBRE director Andrew Leoncelli secured the sale. 

Melbourne Square is being developed by OSK Property on Southbank's Kavanagh Street. There will be a 3,700 sqm park and retail precinct, anchored by Woolworths, which also includes a number of restaurants.

<a href="/buildings/melbourne-square-93-119-kavanagh-street-southbank"><img alt="" height="839" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne_square_urban.jpg" width="1200"></a>

Two bedroom apartments start from $701,000 which qualifies buyers for the 50 per cent stamp duty savings. Three bedrooms start from $1,161,000.

For a limited time, buyers of two or three bedroom apartments can secure a Life &amp; Style Edition package worth over $30,000, which includes Coco Republic furniture, integrated DARWIN by Delos wellness technology, Samsung white goods and a voucher for The Plant Society.

 
 
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The 64 level penthouse has four ensuited bedrooms and large living and dining areas with views across Melbourne.



Melbourne Square penthouse sells for over $3.4 million

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There are $5 million expectations for a trophy apartment in The Hyde apartment on Liverpool Street, Sydney.

The three bedroom, two bathroom 24th floor apartment last sold in 2010 at $2,345,000. There are two car spaces.

The north facing space became a $1800 a week rental offering in 2015.

It is offered by Tolga Ozer at Boutique Property Agents.

The Stockland complex, which is pet friendly, was designed by architects WOHA.

The site was purchased in 1988 by Stockland when the development company owned by Ervin Graf.

The now ASX listed company has  a range of masterplanned greenfield communities and medium density housing projects across the country with an end-market value of some $19.8 billion.

It next inner Sydney project is at 6,168sq m site located at 5-15 Dunning Avenue in Rosebery, a site secured in 2017.

Last year Stockland bought a site in inner Melbourne's Brunswick for its first apartment project in Victoria in more than 10 years.
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jchancellor

Hyde Park, Sydney trophy apartment listed for $5 million

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Chevron One is the $230 million Surfers Paradise apartment block set to rise 40 levels on the Chevron Island's Stanhill Drive.

Developed by Bensons Property Group, Chevron One will comprise 236 one, two and three bedroom apartments. Bensons collaborated with Marchese Partners in the sculptural design of the tower.

Urban sat down with Bensons Property Group senior development manager Alberto Palombaro to discuss Chevron One's design and the 2021 apartment market. Q: Have you seen an increased demand for high-end properties on the Gold Coast in recent months? If so, which aspects of Chevron One set the development apart from other properties on the market right now? 
Since the start of the pandemic, our level of enquiry for high-end properties in the $2m+ range at Chevron One has really spiked, resulting in a handful of very large, high-end residences at Chevron One selling to local owner-occupiers. Buyers at this level expect quality fixtures, fittings and appliances plus the ability to customize the design where requested. 
In terms of what sets Chevron One apart, I would say our level of quality and finish compared to the competition, our ‘never to be built out’ views, and of course the 2000sqm of amenity in the building – one of the largest amenity offerings of any new development on the Gold Coast.

[smartcode_project:default project_id=6515]

Q. What do you perceive the top design trends to be for apartments in 2021 and how does Chevron One utilise these trends to elevate its design? 
There’s no doubt that 2020 has been a year like no other. And if there’s one thing we’ve learned it’s this – there’s no place like home. Australians are spending more time there than ever before. It has become our happy place, a sanctuary to style our way, all to ourselves. This year also gave most of us a taste of what it’s like to really work from home – and it turns out we love it. We can expect to see a demand for new ways to integrate clever working areas into home designs that inspire creativity and opens the ability to work in sync with cooking and the kids. Less clutter, less to clean. We can see this change particularly in the kitchen, I think fewer materials, using the countertop as the backsplash for a more seamless design, and hidden or no hardware altogether. Anything that makes cleaning easier is a win-win.

As well as being aesthetically on-trend; functionality and liveability has been a key focus in the design of Chevron One. Indoor-outdoor living was always a key focus for our floor plans, meaning larger balconies that become an extension of your living and entertaining spaces. Paired with floor to ceiling windows and open plan design this has been a key drawcard for the project.

<a href="/new-apartments/chevron-one-36-46-stanhill-drive-chevron-island"><img alt="" height="425" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/chevron_1.jpg" width="700"></a>

 

Q: As we know, the project’s kitchens are designed by Shannon Bennet, do you anticipate other residences to follow suit with kitchen designs by renowned chefs? 
Yes, that has now been a trend for a few years and it’s only growing. Chefs have a passion for cooking, and they spend most of their time either in commercial kitchens (at work) or in residential kitchens (at home). They have very strong practical skills and the vision for step-by-step meal preparations. They have extended knowledge of state of the art appliances and what’s the best on the market.   Q: Could you please tell us a bit about the three design schemes? Where did you draw inspiration from? 
All four schemes have been created to place value on instilling balance and calm in the living spaces. We have used soft, warm and comforting tones and textures using as much natural materials as possible. Attention to detail, the use of textures, beiges and browns, and inspirations from the beautiful island of Chevron is where we draw our inspiration from. 

 

<a href="/new-apartments/chevron-one-36-46-stanhill-drive-chevron-island"><img alt="" height="679" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/chevron_one_view_0.jpg" width="1200"></a>

Q: What is your favourite feature of Chevron One’s design? 
The wrap-around, curved balconies with glass balustrading allowing residents unobstructed views from their kitchen, all the way out to the Pacific Ocean, Nerang River, Broadwater and Gold Coast Hinterlands – a truly unique design element that not only looks stunning but maximises the views.

Q: What are some of your favourite amenities within walking distance from the development? 
The recently completed HOTA is a great new addition to the local area and is only a 5-minute walk from Chevron One. Sunday’s at HOTA feature Farmers Markets, live music and kids’ activities, as well as monthly concerts and performances. The Thomas Drive retail strip has also come alive in recent years with great coffee, restaurants, and bars with more on the way.
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Urban discusses Surfers Paradise apartment block Chevron One with Bensons senior development manager Alberto Palombaro 

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Apartment values in Sydney continued to decline over January, posting -0.1 per cent losses, according to data analytics firm CoreLogic.

It follows a -0.1 per cent loss over December and -0.7 per cent in November.

The decline sees the unit market in the harbour city the worst quarterly performer across the country, with values down one per cent, the only apartment market to have seen declines.

Sydney's median apartment value now sits at $734,198. There was some good news for apartment investors who were given a boost over the month. Unit rents rose 0.8 per cent, the first month on month rise since March last year.

Unit rents had declined 5.6 per cent over the past year.

Urban has taken a look at three apartments blocks to secure under the median apartment value.

<h2>Beyond, Hurstville</h2>

Price: One bedroom apartments starting from $585,000.

[smartcode_project:default project_id=6798]

The Hurstville apartment complex Beyond, developed by Fridcorp, has both of its one bedroom apartments less than Sydney's median apartment price. One beds start from $585,000, while a one bed with study and a parking spot starts from $685,000. Two bedroom apartments are priced from $845,000.

Due for completion this year, Beyond has been designed by DKO Architecture and features Wellness by Fridcorp, Australia's first first precinct designed as a holistic environment that nurtures social, emotional and physical wellness. There's also a 4,500 sqm Beyond retail precinct anchored by Woolworths.

<h2>Bloom Arncliffe</h2>

Price: Two bedroom apartments from $710,000

[smartcode_project:default project_id=6201]

Buyers can secure a two bedroom apartment in the completed Bloom Arncliffe apartments by developer Wingate in Sydney's south for less than Sydney's median apartment price. One bedrooms start from $595,000 and three bedrooms are priced from $950,000.

The 318 apartments across seven buildings designed by EJE Architecture and built by Richard Crookes Construction are part of the $136 development which also features 36 commercial spaces and a youth centre with basketball courts, a gym and support facilities.

<h2>Kew Schofields Stage 2- Georgette</h2>

Price: Two bedrooms apartments from $570,000.

[smartcode_project:default project_id=32227]

In Georgette, stage two of Kew Schofields on the edge of Sydney's urban sprawl buyers can secure the most expensive apartment for nearly $170,000 under Sydney's median apartment price. The priciest two bedroom apartment, which comes with a study, two bathrooms and a parking spot, is priced from $570,000.

And apartments in Georgette, developed by Positive Investment Enterprise and designed by PBD Architects, are eligible for the $15,000 HomeBuilder grant. Georgette is set for completion later this year.

 
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The decline sees the unit market in the harbour city the worst quarterly performer across the country, with values down one per cent, the only apartment market to have seen declines.



Sydney apartment median value down -0.1% in January: What you can buy for the new median

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EXPERT INSIGHT

The combination of reopening unleashing pent up demand, an avalanche of government incentives (including stamp duty concessions, various state support measures, HomeBuilder and an expansion of the First Home Loan Deposit Scheme), a further easing in lending standards on the way for early this year (with the removal of responsible lending obligations), record low mortgage rates, the desire to "escape from the city" helped along by ongoing bank payment holidays and Government income support measures averted a sharp fall in prices that would otherwise have followed from higher unemployment and underemployment, weak inner city rental markets and the hit to immigration and brought forward demand from first home buyers and owner occupiers. As a result property prices have turned up far earlier than I had been expecting and there appears to be a bit of FOMO (or the “fear of missing out”) creeping into some markets and pushing them higher.

At the current rate of increase average capital city dwelling prices will surpass their September 2017 record high by March, although this masks a wide divergence with: record highs already in Brisbane, Adelaide, Hobart and Canberra and in average regional home prices; Perth and Darwin remaining well down on their 2014 highs; and Sydney and Melbourne prices having been range bound since 2017.  

Outlook

Australian home prices are likely to continue to rise through 2021 being boosted by record low mortgage rates, government home buyer incentives and with the recovery in the economy expected to offset the phasing down of income support measures and bank payment holidays and some incentives. As a result average capital city home prices are expected to rise by around 5% through the year. While first home buyer incentives are likely to be reduced seeing a decline in first home buyer demand later in the year, investor interest is expected to pick up.

However, the outlook is widely divergent across cities, within cities and across units versus houses.

<img alt="" height="355" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/amp_jan_2.png" width="545">

The downside risks relate to: renewed coronavirus related lockdowns with the latest being in Perth although so far new case numbers seem to be getting kept down and vaccines should help head off this risk entirely later in the year; higher unemployment and underemployment and distressed sales as government income and bank support measures wind down although the risk on this front are rapidly diminishing; falling rents and high vacancy rates in inner city Melbourne and Sydney weighing on investors; a 100,000 per annum reduction in underlying dwelling demand flowing from the hit to immigration; and a pandemic/work from home driven “escape to the suburbs and regions” that is weighing on inner city/unit prices but pushing up outer suburban/house and regional prices.

It remains hard to see that the reversal in net immigration from around 240,000 people per annum to an expected net outflow of people this financial year (of -70,000) and next (of -20,000) won’t have a significant impact. The surge in population growth of around 150,000 people per annum taking it to around 375,000 people per annum due to higher immigration from the middle of the 2000s was the main factor explaining very expensive Australian housing over the last 15 years as the property market became chronically undersupplied. The collapse in population growth which is likely to result in a halving in underlying demand for housing this financial year and next at the same time that governments are intent on supporting housing construction via various initiatives including HomeBuilder is likely to weigh on prices at some point as chronic undersupply gives way to oversupply in some areas. Particularly with rate cuts and incentives pulling demand forward and mortgage rate reductions reaching the end of the road. This is particularly likely to weigh on unit rents and prices along with investor demand in Sydney and Melbourne.

<img alt="" height="376" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/amp_jan_1.png" width="620">

Inner city Melbourne and Sydney are the most vulnerable to the hit to immigration, but this may not become fully apparent for another six months or so. Outer suburban areas and houses in these cities are likely to continue seeing solid price gains reflecting the “escape from the city” phenomenon against a backdrop of very low mortgage rates. On average Sydney and Melbourne price gains are likely to be modest at around 2 to 3% through 2021.

Other cities and regional areas are likely to perform well reflecting lower levels of debt and less exposure to immigration and as such as likely to see rising average prices with record low mortgage rates dominating. Adelaide and Brisbane are playing catch up after years of underperformance compared to Sydney and Melbourne, Canberra is benefitting from strength in public sector employment and Perth and Darwin are starting to recover after bear markets ever since 2014 helped by the recovery in mining investment in WA. Expect average price gains of close to 10% in Adelaide, Brisbane, Perth, Darwin and regional areas and around 5 to 7% in Canberra and Hobart.

Basically, Sydney and Melbourne lead the longer term cycle and the other cities and regional prices follow. Right now, Brisbane, Adelaide, Hobart, Canberra and average regional dwelling prices are playing catch up after underperforming Sydney and Melbourne into 2017 and Perth and Darwin home prices are finally recovering from a multi-year bear market that went bust with the end of the mining investment boom. The surge in immigration played a big role in the outperformance of Sydney and Melbourne into 2017 and this is now going into reverse.

Outer suburban houses and dwellings in regional centres are likely to perform better than inner city units in most capital cities as a continuing trend to working from home and a greater focus on lifestyle dominates.

SHANE OLIVER is the Head of Investment Strategy and Chief Economist at AMP Capital 
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soliver

Regional home prices outpacing the capital cities in 2021: Shane Oliver

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The Melbourne apartment market has continued to see price growth at the start of 2021 following a strong run toward the back end of 2020.

The median apartment value was up 0.1 per cent, according to data analytics firm CoreLogic, following from 0.6 per cent gains in December and 0.7 per cent gains in November.

The gain sees the median apartment value hit $577,206. Apartment investors were given a boost over January, with unit rents holding firm having declined 7.8 per cent over the past year.

Urban has taken a look at five apartments blocks to secure under or around the median apartment value.

<h2>1. Collins &amp; Bates, Chadstone</h2>

Price: Two bedroom apartments starting from $520,000.

[smartcode_project:default project_id=3950]

In the 98 residence Collins &amp; Bates, you can secure a two bedroom apartment for well below Melbourne's median apartment value. Prices for two beds start from $520,000, with one bed apartments from $420,000. All three bedroom residences, which started from $1 million, are sold out.

Aultun Property Group are the developers behind Collins &amp; Bates. They had Point Architects design the residences and had C&amp;C Interiors handle the interiors which feature Caesar stone bench tops, porcelain splashbacks, Bosch appliances, wool carpets and engineered oak timber flooring.

<h2>2. Hurstmon, Malvern East</h2>

Price: One bedroom apartments starting from $449,000.

[smartcode_project:default project_id=4807]

Landream's Hurstmon development, set for completion in early 2022, has one bedroom apartments available from as low as $449,000. Their two bedroom apartments are a step up, starting from $795,000.

Designed by Telha Clarke, the 39 residence development is surrounded by stately trees and lush, established gardens.

<h2>3. Verre, Preston</h2>

[smartcode_project:default project_id=7275]

Wolf&amp;Lamb's Verre development, set for completion in early 2022, has one, two and three bedroom residences on offer with prices ranging from $385,000 to $815,000.

The 57 residence complex has been designed by Chamberlain Architects.

<h2>4. Melbourne Grand, Melbourne</h2>

Price: Two bedroom apartments starting from $569,000.

[smartcode_project:default project_id=3490]

Winner of the HIA Victorian apartment complex of the year for 2020, the Melbourne Grand has its two bedroom apartments starting from $569,000, just below Melbourne's median apartment price.

The 652 unit project, developed by Central Equity, offers a range of one, two and three bedroom apartments priced from $489,000.

<h2>5. Volaire, West Melbourne</h2>

Price: Two bedroom apartments starting from $599,000.

[smartcode_project:default project_id=2407]

Just above Melbourne's median price are two bedroom apartments in the 159 apartment development Volaire. The CBUS Property-developed project spanning 10 levels has been designed by Hayball to pay homage to the site's industrial heritage with its architectural façade.

The triangular building features cantilevered balconies and occupies its own island site with a ground floor restaurant.

 
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Apartment investors were given a boost over January, with unit rents holding firm having declined 7.8 per cent over the past year.

Melbourne apartment median value up 0.1% in January: What you can buy for the new median 

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National housing values reached a record high over January, as 0.9 per cent gains took values higher than the previous September 2017 peak, according to property data firm CoreLogic.

CoreLogic's monthly home value index found every capital recorded dwelling value growth over the first month of 2021. Housing values are now one per cent above pre-COVID levels and 0.7 per cent higher than September 2017's record high.

Sydney and Melbourne were the weakest of the capital cities over January, posting modest 0.4 per cent gains.

Darwin continued to be the national market leader, up another 2.3 per cent to be 6.6 per cent up over the quarter. Perth and Hobart each saw a 1.6 per cent rise in dwelling values, followed by Canberra who were up 1.2 per cent and Brisbane and Adelaide both up 0.9 per cent.

<img alt="" height="713" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cl_index_january_2021.jpg" width="1200">

CoreLogic research director Tim Lawless says the largest capital city markets are seeing property in the state's regional areas vastly outperform the capital.

Home values across regional Victoria jumped 1.6 per cent over January compared to the 0.4 per cent in Melbourne, with regional New South Wales posting 1.5 per cent gains compared to 0.4 per cent in Sydney.

“Internal migration data shows more people are leaving Sydney and Melbourne for regional areas, resulting in a transition of activity from the metro regions to the outer fringe and regional markets," Lawless said.

"This demographic trend is further compounded by the demand shock of stalled overseas migration.

"As Melbourne and Sydney historically receive the vast majority of overseas migrants, these metro areas have been the hardest hit by this demand shock.”

Since the onset of COVID-19 in March last year, regional housing values have surged 6.5% higher while capital city housing values are down -0.2% over the same time frame.

“Better housing affordability, an opportunity for a lifestyle upgrade and lower density housing options are other factors that might be contributing to this trend, along with the new found popularity of remote working arrangements," Lawless added.

 
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Housing values are now one per cent above pre-COVID levels and 0.7 per cent higher than September 2017's record high.

Australian housing values reach record high: CoreLogic

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Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

The project developer Central Equity are matching the VIC government's $15,000 HomeBuilder grant to save Parkhill buyers $30,000.

That, combined with the potential to save up to $43,000 in stamp duty for owner-occupiers, totals $73,000 of savings. 

[smartcode_project:default project_id=27406]

Investors will benefit from the $24,500 in stamp duty concessions, and Central Equity are offering a rental guarantee for investor purchasers.

One bedroom apartments in the block start from $479,000, or closer to $400,000 for owner-occupiers after the savings boost.

Two bedroom apartments start from $619,000, up to $819,000 when including an extra bathroom and a parking space.

<a href="/buildings/parkhill-apartments-west-melbourne-408-spencer-street-west-melbourne"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/parkhill_melbourne_render_2.jpg" width="1202"></a>

The apartments, many spanning more than 70 sqm, have been designed by Central Equity's inhouse design team. They all have up to 2.7 metre high ceilings, a gourmet kitchen with stone benchtops and Miele appliances and bathrooms with German tapware.

The development has a 6.5 star energy rating, with apartments fitted with double glazed windows.

Residents in the building will have access to a seven day concierge, a rooftop gym and a rooftop garden, complete with barbecues and outdoor seating.
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Owner-occupiers can stand to save up to $73,000 in the Parkhill apartment development in West Melbourne.

Buyers could save up to $73,000* on a brand new home at West Melbourne's Parkhill thanks to developer Central Equity matching the government grants

There&rsquo;s set to be a new apartment block in Coolangatta on the Gold Coast which has affordability on its mind.

The Kirra Apartments project has been lodged by Kirra One Pty Ltd, a company associated with Rawspace Developments directors David Walton, Anthony Rigby and Dan Roger.

They&rsquo;ve had Red Architecture draw up plans for a 13 storey apartment block at 10 Coyne Street which will be made up of 50 apartments.

There will be 25 two bedroom units, 12 two bedders with a multi-purpose room and 13 three bedroom apartments.

<img alt="" height="973" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/kirra_apartments_coyne_street_coolangatta_2.jpg" width="1200" />

&ldquo;The building has been designed to reflect the transition of the elements of the Kirra esplanade from the ocean through to the high-rise spine which is captured in the colours and materials incorporated into the tower form,&rdquo; the Town Planning report read.

The 1,012 sqm block was bought for $3.2 million last July as a block of five units with an income of over $120,000 per year.

It sold with development approved plans for another four one bedroom plus study apartments.

There will be 25 two bedroom units, 12 two bedders with a multi-purpose room and 13 three bedroom apartments.

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