An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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?

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A local developer has spent $8.585 million on one of the last remaining super prime vacant sites in the Eastern Suburbs.
The block, which is estimated to cost just shy of $11 million to build, will comprise 24 apartments, ground floor retail and 13 basement parking spaces.
The vacant site on the corner of Flinders and South Dowling Street went under the hammer with a reserve of $6.85 million.
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Bidding opened at a lowball $6 million.
After bidding went past $7 million there were 30 bids before the hammer fell.
Richardson &amp; Wrench Ryde City agent Conor Arnold described the 117 Flinders Street sale as a remarkable result that showed developers were back in business.
“We had seven registered bidders, four active and all of them confident to put some serious money on the table,” Arnold said.
“This was a trophy location close to Oxford St, the Sydney Cricket Ground, Light Rail and Moore Park, so it’s easy to see why it was in such hot demand."
 
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jrobinson-rf4aSBido9

Surry Hills site sells to local developer with SJB-designed apartment block planned

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Wodonga has fallen from the peak of the market for houses in December, joining the Central Coast, according to Herron Todd White (HTW). 
The valuation firm suggests that the six other locations at their peak are Albury, Bathurst, Canberra, Dubbo, Tamworth and the Sunshine Coast. No other market analysed is approaching the peak.
Kalgoorlie remained as a declining market while South West WA, joined Broome and Geraldton as they approach the bottom of the market.
There were four additions to the markets who have been deemed as at their lowest point, Adelaide, Adelaide Hills, Barossa Valley and the Southern Highlands joined Darwin, Perth and Towoomba, among others.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20House%20Clock%20DEC%202019.JPG" target="_blank">Click here</a> to enlarge:
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Lismore, Ballina/Byron Bay, Coffs Harbour and Bundaberg have all begun their recovery, joining 13 other locations including capital cities like Brisbane and Sydney.
There were no additions to the rising house markets with all nine locations holding steady over the month.
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j.ballantyne1990-6AQqhLzZaK

Wodonga has fallen from the peak of house market: HTW Clock

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Unit markets across Australia saw no significant movement over the past month, according to property valuation firm Herron Todd White (HTW).
The valuation firm's national property clock for December found that five locations remained at the peak of the market cycle for units.
Unit markets in Albury, Sunshine Coast, Wodonga, Tamworth and Bathurst remained at the peak. Bathurst has sat at the peak the longest.
No other markets are approaching the peak while a number of markets including Hobart, Launceston and Mildura have continued rising.
Lismore, Mackay, Melbourne, Newcastle, Illawarra, Townsville, Cairns and Geelong, among others are still just in the beginnings of a recovery.
<a href="https://www.propertyobserver.com.au/images/2019/12/9/HTW%20Unit%20Clock%20DEC%202019.JPG" target="_blank">Click here</a> to enlarge: 
<img src="https://www.urban.com.au/images/2019/12/9/HTW%20Unit%20Clock%20DEC%202019.JPG" alt="">
Canberra, Perth, Kalgoorlie and the Southern Tablelands continued declining while the Central Coast remains at the start of a decline.
Broome, Geraldton and South West WA have still yet to hit rock bottom, unlike Darwin, Adelaide, Brisbane and Sydney, which according to HTW are all at the bottom of the unit market
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Unit markets held steady over the month with no movement: HTW Clock

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A Brighton local turned up to summer's first bathing box auction as a “tyre kicker”, but then spent $305,000 to buy it. 
Michael Abell was the only bidder for bathing box 76D.
He'd almost bought one 25 years ago for $15,000. 
Nick Johnstone Real Estate auctioneer Nick Johnstone wore boardshorts, thongs and a Santa hat for the occasion.
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Johnstone made a $300,000 vendor bid before Abell's $305,000 offer.
The sale was negotiated after the property passed in. 
The bathing box was finished last month as part of a Bayside Council masterplan for the beachfront. 
The Herald Sun reported council’s corporate services director Jill Colson said there are no further plans for any more bathing boxes. 
A bathing box at 76C sold for $337,000 about 18 months ago close to the peak of the market, and 76B sold for $318,000 the same day. 
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Local buys freshly built Brighton bathing box 

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A recent Herron Todd White (HTW) residential report has noted most Canberra suburbs have maintained median price points for standard dwellings while medium density and unit stock have seen some small declines.
Active sections of the market include standard housing at the entry level price points in some of Canberra’s fringe and outer suburban locations.
"Generally purchases are looking for large blocks within established suburbs that provide access to good education and employment services," the valuation firm said. 
Entry level price points for this style of housing range between $550,000 and $650,000. 
"Most homes within this section of the market provide three- and four-bedroom accommodation, generally 30 to 60 years old and, in many cases, the dwellings are ready for some renovation and upgrading," the valuation firm added. 
A recent sale was a three bedroom house in Fraser which presents opportunity to update or to extend. 
Set on more than 1,100sqm, the house at <a href="https://www.realestate.com.au/sold/property-house-act-fraser-132268290" target="_blank">19 Carrodus Street</a> (pictured below) comprises three bedrooms, open plan living and modern bathroom.
It's just a short distance to Fraser Primary. 
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Inner suburban locations in Canberra’s north and south set a higher price point, generally $1 million-plus.
The report notes this section of the market is also relatively stable with families looking to move on the property ladder with their second or third acquisition.
Again block size, location and proximity to schools and other services are the main drivers.
This section of the market ranges from $1 million up to around $3 million.
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"Market activity for property in the $3 million plus price point is slower, with buyers generally more discerning. 
"Location, block size, build quality and level of inclusions are major factors influencing this section of the market," the valuation firm said. 
A one level five bedroom residence in Griffith has recently been sold for $3.3 million. 
Designed by Paul Tilse and built by Classic Constructions, the home at <a href="https://www.realestate.com.au/sold/property-house-act-griffith-132269770" target="_blank">12 Bremer Street </a>(pictured below) offers 366sqm of living space with 99sqm garage.
It features five bedrooms, living and dining room with high ceilings, cinema, gourmet kitchen, rumpus room and alfresco entertaining 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/2019/12/4/griffth.jpg" alt="">
Price points in the medium density unit market range from $200,000 to $275,00 for a one- bedroom unit recently constructed in a fringe Town Centre location, to $400,000 to $500,000 for a centrally located unit in Canberra’s inner north or inner south.
"Both investors and owner- occupiers are active, however strong supply within the medium density market has had an impact on activity.
"Being in close proximity to or directly in Town Centres including Tuggeranong, Woden, Canberra City, Belconnen or Gungahlin is important for rental return, low vacancy and potential future growth." 
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Canberra sees strong supply within medium density market: HTW residential 

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There's set to be a rise in buyer competition in Perth as listings become more and more scarce.
That's the view of Emma Everett, buyer's agent at WA-based property investment consultancy Momentum Wealth, who says the absorption of existing supply and higher sales transactions are triggering a return to a balanced market in some sectors.    
“Over the past 12 months, we have seen significant absorption of the oversupply left over from the mining and construction boom which, when combined with a rise in sales transactions, is causing stock on market to tighten, with the market now approaching equilibrium at just over 14,000 properties listed for sale,” Everett said.
Stock for sale in Perth nears 14,000 in December as sales activity has been trending higher in the second half of 2019. Back in March there were 17,251 properties for sale in Perth.
Sales in May were averaging around 479 a week compared to 650 a week in November.
Everett said some of the rise in activity is likely due to renewed certainty following the conclusion of the Federal Election.
“Activity was visibly subdued in the first half of 2019, with buyers likely taking a more cautious approach due to uncertainty surrounding potential changes to negative gearing and their impact on the property market.”
“The fact sales activity has trended higher in the latter half of 2019 suggests this certainty has now been somewhat restored”, she said.
Perth had the lowest new sales listings in November, according to CoreLogic. It was the lowest figure since CoreLogic began recording the statistic in 2007.
Everett attributes this to a more positive outlook amongst existing property owners in Perth.
“We are seeing an uplift in sentiment amongst many of the owners we are speaking to on the ground, with those who have previously considered selling due to softer market conditions now reluctant to do so having recognised the market is turning a corner.”
“These owners are prepared to hold onto their properties to achieve a better result, and with record low interest rates and improving rental conditions, they aren’t facing the same cash flow pressures they may have been a year ago,” she said. 
Everett stated that with the supply fundamentals in place, it’s now a case of demand.
“Average days on market in Perth is still relatively high at 84 days for the September quarter suggesting we aren’t yet seeing that sense of urgency we would expect to accompany an increase in demand from buyers.” 
“However, with much of the oversupply in a number of areas now absorbed and low levels of supply coming on stream from new construction, stock levels are poised to tighten even further into 2020 which will drive higher levels of buyer competition, in turn placing upwards pressure on prices in some locations,” she said.
CoreLogic figures released earlier this month showed that <a href="/expert-insights/buying/perth-records-first-monthly-dwelling-value-increases-in-two-years-corelogic">Perth dwelling values recorded an annual increase of 0.4% in November</a>, marking the first month-on-month increase since early 2018. 
Everett said that suburbs with strong demand fundamentals in place are already seeing higher levels of competition from buyers.
“While market improvements are now starting to translate into headline growth figures, we have seen higher competition in certain segments of the market for some time, particularly in the upper price segment of the market where owner-occupiers have been taking advantage of softer conditions to trade-up into their suburb of choice, and we expect this to spread further into the market in 2020” she said.
 
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Tightening of stock driving listings down and priming Perth for rise in buyer competition

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There were 2,837 homes taken to auction across the combined capital cities last week, returning a preliminary auction clearance rate of 74.5 per cent.
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The second busiest auction week of the year returned a preliminary clearance rate of 74.5 per cent across the capital cities
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The previous week had been the busiest auction week of the year, with 3,206 auctions were held and the final clearance rate of 73.6 per cent. 
Over the same week in December 2018, auction volumes were lower with 2,631 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 41 per cent.
"Auction markets have been tested on higher volumes over the past few weeks, with the highest number of auctions held so far this year," Tim Lawless at CoreLogic said.
"Despite higher supply levels, clearance rates have held above 70% across the largest markets, demonstrating the market has some depth and sellers remain in a strong position."
Sydney had the highest success rate with the top sale being $6.5 million in Nortbridge (pictured top).
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There were 936 auctions held in Sydney this week, returning a preliminary clearance rate of 78 percent.
<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/2019/12/9/Cap%20Cities%20Corelogic%20Dec%209.jpg" alt="">
 
It was down on the 1,221 auctions held over the previous week when the final auction clearance rate was 78 percent.
One year ago, 870 auctions were held and the clearance rate came in at 41 per cent.
The <a href="https://www.propertyobserver.com.au/https://northbridge-castlecrag.randw.com.au/residential-for-sale/0000422273" target="_blank">3 Woonona Rd, Northbridge top sale</a> was a five bedroom contemporary home overlooking the Northbridge Golf Club and Middle Harbour.
It sold for $1.2 million above the reservenwith bidding from two of the five registered parties.
Every Sydney sub-region with at least ten sales returned a clearance rate higher than 60 percent, with ten sub-regions returning a clearance rate over 70 percent, and  five regions reporting a clearance rate over 80 percent. 
The city and inner best’ region had the highest preliminary clearance rate, at 86 percent across 60 results, followed by Blacktown at 85 percent across 28 results and North Sydney-Hornsby returning a preliminary clearance rate of 85 percent from 100 results.  
Baulkham Hills and Hawkesbury returned the lowest preliminary clearance rate of any sub-region with more than 10 results at 64.3% from 28 results.
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In Melbourne, a preliminary auction clearance rate of 75 per cent was recorded across 1,491 auctions this week, while last week there were 1,533 auctions returning a final clearance rate of 74 per cent. One year ago, the clearance rate was just 43 per cent across 1,283 auctions.
A $4.52 million sale at <a href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-29-Ryeburne-Avenue-Hawthorn-East-3123/853797" target="_blank">29 Ryeburne Avenue, Hawthorn East</a> (below) was Melbourne's top sale through Jellis Craig.
<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/2019/12/9/29%20Ryeburne%20Avenue%20Hawthorn%20East%20Vic%203123%20.jpg" alt="">
Killara, a five bedroom home had last sold at $2.75 million in 2012.
It's price guidance had been $4 million to $4.4 million.
Two empty shell apartments in St Kilda’s former Gatwick hotel, not renovated as part of the 2018 season of Nine’s reality renovation TV show The Block, were sold post auction as one package.
<a href="https://theagency.com.au/21515/g01-34-fitzroy-street-st-kilda" target="_blank">The empty ground floor units</a> (below) listed through The Agency fetched $1,710,000 in post-auction negotiations, Domain reported.
<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/2019/12/9/Gatwick%20Apartment.jpg" alt="">
Melbourne has the nation's cheapest sale when $172,000 was paid for <a href="https://fletchers.net.au/25388/104-224-226-burwood-highway-burwood" target="_blank">104/224-226 Burwood Hwy, Burwood</a> opposite Deakin University.
The one bedroom unit was currently rented at $330 p/w, according to Fletchers, who had given $150,000 to $165,000 price guidance.
Its asking rent five years ago was $310,000.
Across the smaller auction markets, Canberra saw a 74 percent success rate.
Adelaide had the highest volume of auctions with 146 homes going under the hammer, returning a preliminary clearance rate of 61.8 per cent.
Brisbane saw one of its strongest success rate this spring at 64 percent.
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Kedron saw a record price paid when Ray White sold <a href="https://www.raywhite.com/qld/kedron/2212567/?lang=en" target="_blank">47 Thirteenth Avenue</a> for $1,720,000, beating the previous record by around $50,000.
After over 150 groups through during the opens the new five bedroom home sold to a couple from Sydney. 
The building blok cost $749,000 earlier this year.
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">3 Woonona Rd, Northbridge NSW 2063, 5 br House, R&amp;W Northbridge</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_0">$6,500,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">29 Ryeburne Av, Hawthorn East VIC 3123, 4 br House, Jellis Craig Projects | Barenya Court, Kew</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_1">$4,520,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">4 McLaughlan Av, North Brighton SA 5048, 4 br House, HAR Tagni</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_2">$1,185,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">49 Riverview Pl, Yeronga QLD 4104, 5 br House, Dixon Family Estate Agents</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_3">$1,855,000</td>
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<td id="x_rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="x_rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">43 Bainton Cr, Melba ACT 2615, 5 br House, Peter Blackshaw Real Estate Belconn</td>
<td id="x_rpMostExpensive_tdMostExpensiveSold_4">$1,475,000</td>
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Most affordable
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<td id="x_rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_0" colspan="2">3/46 McCourt St, Wiley Park NSW 2195, 1 br Unit, Prof Punchbowl</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_0">$273,100</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_1" colspan="2">104/224-226 Burwood Hwy, Burwood VIC 3125, 1 br Unit, Fletchers Waverley</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_1">$172,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_2" colspan="2">99 Victoria Rd, Birkenhead SA 5015, 3 br House, RW Norwood</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_2">$230,000</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_3" colspan="2">3/36 Soudan St, Toowong QLD 4066, 2 br Unit, Professionals - Toowong</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_3">$425,500</td>
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<td id="x_rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="x_rpMostAffordable_tdMostAffordableLocation_4" colspan="2">38 Tregellas Cr, Banks ACT 2906, 4 br House, McIntyre Property</td>
<td id="x_rpMostAffordable_tdMostAffordableSold_4">$515,000</td>
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Source Domain
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Second busiest auction week saw 70% plus success rate

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With the populations of Australia’s major cities exploding, a shift to apartment living was always going to be essential to prevent urban sprawl from becoming unmanageable. Traditionally Australians have been resistant to apartment lifestyles, but that’s changing as apartment buildings become more advanced, and the infrastructure around them – shopping and recreational facilities – makes such lifestyles ever-more convenient and appealing.
From the end of 2000 to now, there have been more than <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-08-18/how-bad-could-the-apartment-building-crisis-be-in-your-state/11413122" target="_blank">667,000 apartment buildings</a>, flats, or units built across the nation. This figure has been led by NSW (259,000), Victoria (174,000), and Queensland (143,000). There are issues with the environment around apartment buildings in Australia, with 97% of buildings between 2003 and 2018 featuring at least one defect, but this has not stopped the cranes coming in, and the skyline filling with increasingly-tall buildings.
<h2 dir="ltr">Within Australia’s Capital Cities</h2>
In fact, the appetite for apartments is almost too much, with oversupply now becoming a problem in some areas. Sydney’s notoriously-expensive housing market is leading to more people looking for rental apartments than ever, but heavy investment in apartment building (with over 30,000 new multi-unit dwellings in the last year alone) is making it difficult to fill all available property – in 2019, rental prices <a href="https://www.smh.com.au/national/nsw/apartment-oversupply-puts-squeeze-on-rents-20190705-p524cp" target="_blank">dropped as much as $100 per week</a> in an effort by landlords to find tenants. Furthermore, Sydney has such a strong pipeline of additional units and apartments ahead of it that this trend is not likely to reverse soon.
Melbourne’s property market, on the other hand, is being propped up by the growth in apartment buildings. In those areas of Melbourne where the median prices of property have risen over the last 12 months, a full<a href="/expert-insights/buying">79% of those are apartment markets</a>. With Melbourne having gone through a post-boom downturn, this reversal being driven by apartments shows a shift it living expectations and demand in the city.
In Australia’s smaller cities, such as Adelaide, apartment living is also a growing trend, albeit at a slower rate to the more traditional single-unit property market. Interestingly, new apartments in Adelaide average <a href="https://www.stratadata.com.au/strata-services/adelaide/" target="_blank">the highest area across all capital cities at 152.3m²</a>. Through 2020 unit values are expected to increase by 1.1 per cent, while house values will increase by 5.1 per cent. The smaller capital cities have not had the kind of property booms that the major capitals have, however, price inflation for single dwelling houses has not priced them out of reach to the same extent, however, so this is less an indication of a weak demand for apartments as it is an indication that markets such as Adelaide will trend in the same direction as the major cities in the years ahead, as the market catches up.
<h2 dir="ltr">Threats To Australian Apartments</h2>
The biggest issue that the Australian property market faces, with regards to apartments, is the issue of the defects. Extreme cases, such as that of the Olympic Park Opal Tower, which<a href="https://www.theguardian.com/australia-news/2018/dec/25/sydney-olympic-park-opal-tower-evacuation-51-units-deemed-unsafe">led to the eviction of residents</a> after 51 units were deemed unsafe, are the ones to make the news, but as mentioned earlier, almost all apartments built in Australia have defects.
Across Queensland, NSW and Victoria, the five most common examples of defects were:
1)  Internal water leaks (42 per cent)
2)  Cracking to internal or external structures (42 per cent)
3)  Water penetration from outside (40 per cent)
4)  Guttering faults (25 per cent)
5)  Defective roof coverings (23 per cent)
These issues can have a dampening effect on the enthusiasm that people have for buying apartments, particularly under the knowledge of how frequent the problem is.
While this is an issue that needs to be solved – and Australian state governments are <a href="https://www.customerservice.nsw.gov.au/our-stories/draft-building-legislation-targets-concerns-about-apartment-buildings" target="_blank">looking to tackle the problem with legislation</a> – the benefits of apartment living for the modern Australian are too significant for the overall interest in apartments to change course. In addition to the convenience, with apartments generally located within easy reach of public transport and CBD areas, there are a host of other benefits to apartment living that make it a sound lifestyle choice for an increasing number of Australians. Living in an apartment requires less maintenance on the part of the owner or tenant. Much of the maintenance work falls under the responsibility of the body corporate, which can be both a significant time and money saver.
<h2 dir="ltr">The Benefits of Apartment Living</h2>
Apartments increasingly have common areas for residents which enhance the value of the space. Swimming pools, communal barbeques, gyms and security systems are all common amenities that have the added benefit that they help to foster a sense of community throughout the building. Finally, the costs of heating, cooling, water and electricity can all be mitigated to an extent in the way that billing for these utilities is handled for multi-tenant buildings.
The signs are that the market for apartments is going to be a challenging one for investors in Australia for some time to come. Defects and the over-production of space is putting downward pressure on prices. At the same time, however, there is a decided shift away from the traditional “Australian dream” in which a family will own a house. The convenience and lifestyle “value-adds” of apartment living have kickstarted an irreversible trend across the entire country.
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Understanding the apartment landscape in Australia

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A one bedroom Surfers Paradise, Queensland apartment has been sold for $440,000.
The one bedroom one bathroom property was listed most recently with an asking price of $485,000.
Andrew Turner of PRD Nationwide held the listing.
Situated at <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-130694270" target="_blank">16/1 The Esplanade</a>, the unit is positioned right on the beach with sweeping views.
Set on 79 sqm, the abode is located on the 6th floor and comes with a parking space.
The North facing apartment was last traded for $127,000 in 1998.
Built in 1973, this unit has been listed three times since its 1998 purchase.
All three times it was listed with an asking price of $575,000. 
It was first listed in 2011, then for just under a year from late 2011 to late 2012. The last time it was listed was for two months starting December 2013.
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The median price for a home in <a href="/developments/surfers-paradise-qld-4217">Surfers Paradise</a> is $1.15 million, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.4%.
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Surfers Paradise mortgagee unit sold for $50,000 below asking price

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A home in Frenchville in Queensland's Rockhampton region has been sold by the mortgagee in possession for $235,000, reflecting a $115,000 loss.
The three bedroom, one bathroom house on 605 sqm last sold for $350,000 in 2011.
The home at <a href="https://www.realestate.com.au/sold/property-house-qld-frenchville-130657598" target="_blank">238 Flowers Avenue</a> sold after 555 days on the market.
Originally listed in December 2017 the property had an asking price of $339,000 through Dan Ware of Mr Real Estate.
Throughout the life of the listing, the asking price was reduced six times to $250,000.
There was also an unsuccessful auction in April 2019.
The property even went back on its 2007 sale when it sold for $290,000.
Built in 1975, it is a two story property with a two car garage.
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The median price for a home in <a href="/developments/frenchville-qld-4701">Frenchville</a> is $320,000 according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.1%. 
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