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 Bulimba, Queensland mortgagee apartment has been successfully sold for $335,000.
The sales represents a reduction in the value of $54,000 compared to the previous sale price.
Jared Candlin and Michael Clarke marketed the unit.
Situated at <a href="https://www.realestate.com.au/sold/property-unit-qld-bulimba-131592998" target="_blank">107/425 Hawthorne Road</a>, the property consists of a one bedroom, one bathroom apartment with a single parking space.
Set on 74 sqm, the abode successfully sold under the auction hammer on August 18.
The home was listed as a rental as recently as 2014 and 2015 seeking $395/pw, less than what it sought when it was listed as a rental in 2012/2013 when it asked for $420-$435/pw
Last sold in 2011, the unit transacted for $389,000.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/developments/bulimba-qld-4171">Bulimba</a> is $600,000, according to CoreLogic
</body></html>

j.ballantyne1990-6AQqhLzZaK

Bulimba, Queensland mortgagee home sold for $54,000 loss

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Three locations have climbed to the peak of the market cycle for units, according to property valuation firm Herron Todd White (HTW).
The valuation firm's national property clock for August finds unit markets in Albury, Sunshine Coast, and Wodonga are now at the peak of the market, joining Bathurst which has sat at the peak for the last two months.
It's been a quick rise for Albury and the Sunshine Coast.
In back to back months they've climbed quickly through the cycle, from rising market in June to approaching the peak of the market in July.
<a href="https://www.propertyobserver.com.au/images/2019/8/5/unit%20clock.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/5/unit%20clock.jpg" alt="">
Tamworth joined Hobart at the approaching peak of the unit market. 
Apartments in the South West of Western Australia were not as far through their declining cycle as HTW had previously suggested.
They moved from approaching the bottom of the market to in a declining market, suggesting there is still some way to go in the decline.
<img src="https://www.urban.com.au/images/2019/8/16/Tamworth%201.JPG" alt="">
One example of a unit listed in Tamworth is 1/33 Murray Street (pictured above).
The two bedroom one bathroom unit is listed for $225,000 more than 10% higher than the median price for a unit in Tamworth, $194,811.
<img src="https://www.urban.com.au/images/2019/8/16/Tamworth%202.JPG" alt="">
Another example of a unit exceeding the median sale price in Tamworth is Lot 41/337 Armidale Road (pictured above).
The three bedroom, two bathroom apartment sold for $273,000 in March 2019.
</body></html>

Tamworth unit market starts to approach the peak: HTW Clock 

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EXPERT OBSERVER
The vendor discount metric measures, for properties that sell below the initial list price, the difference between the original list price and the ultimate sale price. The metric is calculated as a median across a rolling 3 months of data.
Within the past 3 months, housing conditions have started to stabilise but there has been no noticeable reduction in discounting levels. As at July 2019, the median vendor discount nationally, was 5.9% and as the chart shows, discounting has steadied over recent months.
At the same time a year ago, discounting levels were recorded at 4.9% and the last time discounts were as large as they are currently was August 2011. The heightened discounting is reflective of the weaker housing conditions over the past year and the increasing level of discount has recently ceased as housing conditions have improved.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%201.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%201.JPG" alt="">
The combined capital cities have recorded a slight reduction in discounting levels over recent months.
As at July 2019, vendor discounting was recorded at 6.1%, which was slightly lower than the recent peak of 6.3%. Discounting levels have increased from 5.1% a year ago and haven’t reached their recent heights any time in the past 12 years.
Across the combined regional markets, discounting has increased from 4.7% a year ago to 5.6% as conditions have deteriorated.
Although discounting levels across the regional markets are lower than those in the capital cities, there is no sign of a reduction and the last time discounting was this high was March 2013.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%202.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%202.JPG" alt="">
Sydney has seen discounting levels fall from a peak of 7.7% in February 2019 to 6.3% in July 2019.
The recent reduction in discounting mirrors the ongoing improvement in housing market conditions through 2019.
Although discounting levels are reducing, they remain higher than they’ve been any time previously over the past 12 years.
The median vendor discount in regional NSW has increased to 5.5% in July 2019 from 4.4% at the same time in 2018. Although discounting levels haven’t reduced, they have steadied over recent months however, they are at their highest levels since February 2013.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%203.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%203.JPG" alt="">
The level of vendor discounting in Melbourne has fallen from a peak of 7.1% in February 2019 to 6.5% in July 2019.
The reduction has followed the improvement in housing market conditions over the period. Despite the recent improvement, discounting is much higher than the 4.4% a year earlier and remains higher than it has previously been over the past 12 years.
Although discounting levels remain relatively low in regional Vic, they have continued to climb over the past year and are at their highest level since August 2013.
As at July 2018, vendor discounting was recorded at 3.8% and by July 2019, this had increased to 5.4%.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%204.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%204.JPG" alt="">
Over the past year, there has been an ongoing increase in the level of discounting by vendors in Brisbane.
As at July 2019, the median discount was 5.0% compared to 4.3% a year earlier.
Although discounting is still quite low, the 5.0% in July 2019 is the largest median discount since April 2013.
The level of vendor discounting in regional Qld has increased from 5.4% in July 2018 to 5.7% in July 2019. The level of discounting has reduced slightly over recent months however, the last time discounting levels were as high as they are currently was August 2013.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%205.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%205.JPG" alt="">
As the housing market has seen values fall in Adelaide, the level of discounting has increased.
As at July 2019, the median vendor discount was 5.7% compared to 5.0% a year earlier. At 5.7%, vendor discounting hasn’t been as high as it is currently since August 2013.
In regional SA there has been a slight reduction in the magnitude of discounting over recent months.
As at July 2019, the median discount was recorded at 6.0%, which was slightly higher than the 5.8% discount a year earlier.
The level of discounting in Perth has been elevated for a number of years as housing demand has remained weak and values have continued to decline since mid-2014. As at July 2019, the median vendor discount was 6.9% compared to 6.5% a year earlier. The last time discount levels were this high was early 2009.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%206.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%206.JPG" alt="">
In regional WA, the median vendor discount has continued to trend higher over recent years as housing market conditions have deteriorated.
As at July 2019, the median discount was 8.8%, up from 8.3% a year earlier.
The 8.8% discount is the highest in regional WA since the beginning of 2009.
As value growth in Hobart has slowed over the past year, there has been an increase in discounting. In July 2018, median vendor discounting was 3.5% compared to 3.8% currently.
Over recent months, discounting levels have started to reduce again suggesting that buyers and sellers are closer aligned with their price expectations.
As value growth has slowed in regional Tas over the past year, there has been a moderate increase in discounting. A year ago, discounting was recorded at 4.3% compared to 4.6% currently. Mid 2017 was the last time discounting levels were as high as they are currently.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%207.JPG" target="_blank">click here</a>.
 <img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%207.JPG" alt="">
The weak housing market over recent years in Darwin has seen an elevated level of discounting occurring.
As at July 2018, the median vendor discount was already high at 7.7% and it increased to 8.2% by July 2019.
Across regional NT the level of discounting by vendors remains low however, it is currently higher than it was a year ago. In July 2019, median vendor discounting was recorded at 3.9% compared to 2.9% a year earlier. Because of low volume of sales, the level of discounting in regional NT tends to be quite volatile.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%208.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%208.JPG" alt="">
Canberra has recorded a slight increase in the median vendor discount over the past year however, discounting levels remain extremely low across the city.
A year ago, vendor discounting was recorded at 2.5% compared to 3.1% currently.
The increase reflects the slowing housing market.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%209.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2019/8/23/CL%20Median%20Vendor%20Discount%209.JPG" alt="">
The increase in discounting levels over the past year is reflective of the weakening housing market conditions.
Certain capital cities are already showing signs that discounting levels are reducing and with a housing recovery expected to continue, discounts should reduce further.
Of course, lower interest rates and changed lending rules have enabled more buyers in the market and at this point, the volume for stock remains low.
As a result, negotiations in the marketplace are swinging from being in favour of the buyer to being more in favour of the seller and that is likely to also contribute to reduced levels of discounting over the coming year.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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ckusher-ujnxiKuFQs

Vendor discounting stabilises as listings trend lower: CoreLogic's Cameron Kusher

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EXPERT OBSERVER
What Australians can learn from rising home insurance premiums in New Zealand?
Australia and New Zealand have experienced significant natural disasters in recent years.
The floods in Queensland, earthquakes in Christchurch and Kaikoura as well as bushfires in South Australia highlight just how vulnerable residents can be to these massive unforeseen events and how much they reply on insurance to protect themselves, their properties and their belongings.
When you’re at the whim of Mother Nature, having an appropriate level of home and contents insurance is an absolute necessity.
Nevertheless, living in a hazard capital means insurance comes at an ever-increasing price. We only have to look to Wellington as an example to see how recent regulatory change (following amends to the Earthquake Commission Act) and a more granular approach to risk management have seen insurers re-evaluate the risks they are taking on.
As a consequence, premiums have been steadily rising and this presents a raft of challenges for homeowners across the region. The following synopsis of the changing face of insurance in Wellington could be of interest to you as a fellow Tasman resident, and give an insight into what happens when a market moves from generalised to granular risk based pricing.
As well as being a participant in the sector in my role as insurance commentator for Australian and New Zealand, and leading the NZ insurance business, I’m also a home owner and therefore insurance customer, so I’ve seen firsthand the steady rise in premiums in the past few years. Whilst insurance has always been risk based, the level of granularity of the risk assessment is rapidly changing.
Go back a few years, and risk was assessed using Cresta Zones - large areas made up of adjacent postcodes. But this meant that your risk was assessed the same regardless of whether you were on the side of a hill in Wadestown or on the flat in Tawa.
Tower got the ball rolling with its per property risk-based pricing in April 2018, and last month IAG followed suit.
Whilst the effects of these changes won’t be felt fully for some time yet, until higher renewals start hitting the letterboxes or people move and seek new policies, the media were certainly quick to pick up on disgruntled Tower customers and report the odd extremes where premiums had shot up by tens of thousands for particularly "risky" properties. Whilst examples of $ 12,000, or greater, increases were thrown around, Tower were quick to respond that only 1% of their premiums were rising by more than $ 2,000 per annum.
However, according to Stats NZ household spending on property related insurance has risen from an average of $ 15 a week in 2008 to $ 34 a week in 2018. With the rises in the EQC and Fire Service Levy this year pushing this up this year, but there is no doubt that this will rise again as more risk based premiums come into effect Across other insurers.
In March, IAG hit the headlines, announcing that it would take a "conservative approach to writing new business in Wellington due to the high earthquake risk in that part of the country". This so alarmed Wellington Mayor, Justin Lester that he called for more regulation and an Insurance Forum, saying that insurers have a social responsibility to provide insurance cover that is affordable for all. He also referred to the ACC model and implied we should look at a state run insurance model for property. Maybe we could call it "State Insurance".
Oh. . . wait. I understand the Mayor's concerns, but do insurers have a social responsibility? New Zealand is unique in that it has EQC – a government backed insurer of the first $ 150K of natural hazard damage for any property that holds a domestic policy with Fire Cover.
EQC holds a socially responsible position - for example they decided to run the Canterbury Earthquake response as a centrally managed repair as they believed the social outcome would be better than making cash payouts with the associated risk of price gouging and a free for all for builders.
EQC also charges the same levy for any dwelling anywhere in the country. Private insurers are in a different boat, however. They aren’t subject to a government guarantee and have a corporate responsibility to be financially prudent in their risk appetite and the financial return on that risk.
Whilst insurers do want to provide cover to Kiwis, it's entirely logical to take account of the likely risk at an individual property level. They also have to buy reinsurance on the global market which certainly doesn’t view insurance as a social responsibility – they exist to price and cover risk in return for premiums.
That means that Wellingtonians will begin to pay higher premiums commensurate to the actual level of risk they face. A compounding effect is that insurers also have to hold additional capital reserves or reinsurance to cover the costs of a 1 in 1,000 year event for property within 50km of the Beehive.
Whilst not a new requirement, that's still very real cost of doing business in Wellington, especially with building costs rising by nearly 5% per annum according to the Cordell CHIP Report. It’s not just Wellington, though. It also means that other parts of the country that face risks such as regular flooding, with all indications that the severity and frequency are increasing with climate change, or are on the coast with the increased risk of erosion from storm surge, will also attract higher premiums. In order to retain cover, insurers may opt to provide higher excess for specific events, or exclude them altogether.
If your house has flooded three times in four years, why would any sane business continue to offer cover for future flood events? Even councils are stepping away from commitments to protect homes against the rising tide of climate change and coastal erosion.
Recently the Mayor of Kapiti indicated that they only had a limited responsibility to help over 1,800 coastal homeowners and ultimately they were on their own, commenting on the general costs of coastal protection: "How long can we mount a defence, how much will it cost and who pays? These are the challenging questions now and especially into the future."
 A similar story in the Taranaki where the council won't extend a seawall protecting several homes. Climate change is estimated to bring more severe storm surge events which will further cause issues over insurance cover for coastal properties and many coastal owners may find their stunning beachfront views uninsurable.
Whilst insurers try and operate with social responsibility, they also have financial responsibility as well. As I pointed out to a colleague – would you be happy if your bank was making poor lending decisions that might impact on the amount you pay for your mortgage and the stability of your lender should those loans go bad? Sure, insurers are in the business of covering risk, but like any business they have to ensure they have a sustainable balance between risk and reward.
Aucklanders, of course, may see the benefits of this southwards shift in risk pricing with improved premiums. A friend up there recently switched to a risk based insurer and saved over $ 1,500 in their annual premium for the same cover with the same excess.
So, what does this mean for Kiwis?
Firstly, premiums will continue to rise – that’s a certainty – especially in higher risk areas. Let’s stop trying to be King Canute against the rising tide of higher risk and climate change. Secondly, buyers should consider insurance early on in the home buying process. When you’ve been to an open home and have fallen in love with a house, check out how much insurance cover will be. Jump on an insurer’s website and use CoreLogic’s Cordell Sum Sure to estimate the rebuild cost and get a quote for cover.
Get two or three quotes for comparison. Look at the highest premium and assume that all premiums will rise to that level in the next few years, so factor that in to your budget, along with increasing interest rates. If a property is returning a high premium, but you still want to make it your home, maybe factor the future cost of insurance in to your offer? And definitely make that offer conditional on satisfactory insurance and don’t leave it to the last minute.
Another emerging effect of these changes is that lenders are beginning to consider how these changes might affect them and their risk. If they have a 25 year relationship with the home owner, but the insurer only has a 12 month commitment. Rising premiums and a possible retreat from cover in some areas could certainly affect lenders.
The other question is, how will these changes affect Australia?
Whilst there is certainly a level of risk based pricing here, climate change, which is likely to result in more storms further south, increased storm surge, resulting in more flooding will certainly affect how insurers price risk and what they are prepared to cover.
Added to that, many insurers and brokers operate trans-Tasman and so are clearly impacted by changes across the ditch. That aside, now is as good a time as any to review your cover whichever side of the Tasman you live on, and make sure you’re getting value for money across your home and contents insurance.  
RICHARD DEAKIN is the CoreLogic Head of Insurance
What Australians can learn from rising home insurance premiums in New Zealand? Richard Deakin, CoreLogic Head of Insurance comments: Australia and New Zealand have experienced significant natural disasters in recent years. The floods in Queensland, earthquakes in Christchurch and Kaikoura as well as bushfires in South Australia highlight just how vulnerable residents can be to these massive unforeseen events and how much they reply on insurance to protect themselves, their properties and their belongings. When you’re at the whim of Mother Nature, having an appropriate level of home and contents insurance is an absolute necessity. Nevertheless, living in a hazard capital means insurance comes at an ever-increasing price. We only have to look to Wellington as an example to see how recent regulatory change (following amends to the Earthquake Commission Act) and a more granular approach to risk management have seen insurers re-evaluate the risks they are taking on. As a consequence, premiums have been steadily rising and this presents a raft of challenges for homeowners across the region. The following synopsis of the changing face of insurance in Wellington could be of interest to you as a fellow Tasman resident, and give an insight into what happens when a market moves from generalised to granular risk based pricing. As well as being a participant in the sector in my role as insurance commentator for Australian and New Zealand, and leading the NZ insurance business, I’m also a home owner and therefore insurance customer, so I’ve seen firsthand the steady rise in premiums in the past few years. Whilst insurance has always been risk based, the level of granularity of the risk assessment is rapidly changing. Go back a few years, and risk was assessed using Cresta Zones - large areas made up of adjacent postcodes. But this meant that your risk was assessed the same regardless of whether you were on the side of a hill in Wadestown or on the flat in Tawa. Tower got the ball rolling with its per property risk-based pricing in April 2018, and last month IAG followed suit. Whilst the effects of these changes won’t be felt fully for some time yet, until higher renewals start hitting the letterboxes or people move and seek new policies, the media were certainly quick to pick up on disgruntled Tower customers and report the odd extremes where premiums had shot up by tens of thousands for particularly "risky" properties. Whilst examples of $ 12,000, or greater, increases were thrown around, Tower were quick to respond that only 1% of their premiums were rising by more than $ 2,000 per annum. However, according to Stats NZ household spending on property related insurance has risen from an average of $ 15 a week in 2008 to $ 34 a week in 2018. With the rises in the EQC and Fire Service Levy this year pushing this up this year, but there is no doubt that this will rise again as more risk based premiums come into effect Across other insurers. In March, IAG hit the headlines, announcing that it would take a "conservative approach to writing new business in Wellington due to the high earthquake risk in that part of the country". This so alarmed Wellington Mayor, Justin Lester that he called for more regulation and an Insurance Forum, saying that insurers have a social responsibility to provide insurance cover that is affordable for all. He also referred to the ACC model and implied we should look at a state run insurance model for property. Maybe we could call it "State Insurance". Oh. . . wait. I understand the Mayor's concerns, but do insurers have a social responsibility? New Zealand is unique in that it has EQC – a government backed insurer of the first $ 150K of natural hazard damage for any property that holds a domestic policy with Fire Cover. EQC holds a socially responsible position - for example they decided to run the Canterbury Earthquake response as a centrally managed repair as they believed the social outcome would be better than making cash payouts with the associated risk of price gouging and a free for all for builders. EQC also charges the same levy for any dwelling anywhere in the country. Private insurers are in a different boat, however. They aren’t subject to a government guarantee and have a corporate responsibility to be financially prudent in their risk appetite and the financial return on that risk. Whilst insurers do want to provide cover to Kiwis, it's entirely logical to take account of the likely risk at an individual property level. They also have to buy reinsurance on the global market which certainly doesn’t view insurance as a social responsibility – they exist to price and cover risk in return for premiums. That means that Wellingtonians will begin to pay higher premiums commensurate to the actual level of risk they face. A compounding effect is that insurers also have to hold additional capital reserves or reinsurance to cover the costs of a 1 in 1,000 year event for property within 50km of the Beehive. Whilst not a new requirement, that's still very real cost of doing business in Wellington, especially with building costs rising by nearly 5% per annum according to the Cordell CHIP Report. It’s not just Wellington, though. It also means that other parts of the country that face risks such as regular flooding, with all indications that the severity and frequency are increasing with climate change, or are on the coast with the increased risk of erosion from storm surge, will also attract higher premiums. In order to retain cover, insurers may opt to provide higher excess for specific events, or exclude them altogether. If your house has flooded three times in four years, why would any sane business continue to offer cover for future flood events? Even councils are stepping away from commitments to protect homes against the rising tide of climate change and coastal erosion. Recently the Mayor of Kapiti indicated that they only had a limited responsibility to help over 1,800 coastal homeowners and ultimately they were on their own, commenting on the general costs of coastal protection: "How long can we mount a defence, how much will it cost and who pays? These are the challenging questions now and especially into the future. " A similar story in the Taranaki where the council won't extend a seawall protecting several homes. Climate change is estimated to bring more severe storm surge events which will further cause issues over insurance cover for coastal properties and many coastal owners may find their stunning beachfront views uninsurable. Whilst insurers try and operate with social responsibility, they also have financial responsibility as well. As I pointed out to a colleague – would you be happy if your bank was making poor lending decisions that might impact on the amount you pay for your mortgage and the stability of your lender should those loans go bad? Sure, insurers are in the business of covering risk, but like any business they have to ensure they have a sustainable balance between risk and reward. Aucklanders, of course, may see the benefits of this southwards shift in risk pricing with improved premiums. A friend up there recently switched to a risk based insurer and saved over $ 1,500 in their annual premium for the same cover with the same excess. So, what does this mean for Kiwis? Firstly, premiums will continue to rise – that’s a certainty – especially in higher risk areas. Let’s stop trying to be King Canute against the rising tide of higher risk and climate change. Secondly, buyers should consider insurance early on in the home buying process. When you’ve been to an open home and have fallen in love with a house, check out how much insurance cover will be. Jump on an insurer’s website and use CoreLogic’s Cordell Sum Sure to estimate the rebuild cost and get a quote for cover. Get two or three quotes for comparison. Look at the highest premium and assume that all premiums will rise to that level in the next few years, so factor that in to your budget, along with increasing interest rates. If a property is returning a high premium, but you still want to make it your home, maybe factor the future cost of insurance in to your offer? And definitely make that offer conditional on satisfactory insurance and don’t leave it to the last minute. Another emerging effect of these changes is that lenders are beginning to consider how these changes might affect them and their risk. If they have a 25 year relationship with the home owner, but the insurer only has a 12 month commitment. Rising premiums and a possible retreat from cover in some areas could certainly affect lenders. The other question is, how will these changes affect Australia? Whilst there is certainly a level of risk based pricing here, climate change, which is likely to result in more storms further south, increased storm surge, resulting in more flooding will certainly affect how insurers price risk and what they are prepared to cover. Added to that, many insurers and brokers operate trans-Tasman and so are clearly impacted by changes across the ditch. That aside, now is as good a time as any to review your cover whichever side of the Tasman you live on, and make sure you’re getting value for money across your home and contents insurance.
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What can Australians learn from rising home insurance premiums in New Zealand? Richard Deakin

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The residential market in Perth has tracked closely in line with Herron Todd White (HTW) February predictions for the year (so far), according to a recent HTW residential report. 
"Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes.
"Thankfully, the wider Perth area has seen some stability in its median price," the valuation firm said. 
The report notes that the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
REIWA data shows that there were 6,636 properties sold in the March quarter, proving Perth’s state of subdued activity.
REIWA reports that “although overall sales are down, 10% of suburbs experienced stable or increased volumes”.
"This is a positive sign as there are improvements in some sub markets, and it shows the differences between Perth’s inner and outer suburbs," the valuation firm notes. 
Figure 1 shows the distribution of wider Perth area house sales by price bracket.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%201.jpg" alt="">
In the December 2018 quarter, 64% of homes sold below $600,000.
This figure jumped to 70% in the recent March quarter, indicating that affordability is continually improving, but it is also a symptom of a decline in prestige activity.
President of REIWA Damian Collins states that this affordability “presents excellent opportunities for first home buyers, trade-up buyers, downsizers and investors to secure a good deal”.
Listings have increased 6% since the December 2018 quarter to 16,957 which isn’t helping selling periods. It took an average of 78 days for vendors to sell their properties last quarter.
This is a significant jump from the 68 days to sell in the December 2018 quarter. It can be attributed to new land releases as well as a softening in demand across the board.
Collins recently said “it’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations”.
"This is key to avoid the extended selling periods that we have been seeing far too often.
"Our valuers are seeing frequent evidence of properties becoming stale in the market place due to the initial asking price being out of kilter with the market and the eventual sale price of these properties is often below what market evidence suggests they should achieve,."
The rental sphere was once again increasingly active in the March 2019 quarter, favouring investors and shortening the Perth vacancy rate to 2.5%.
The median rental price remained stable at $350 per week for a ninth consecutive quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs increased over the past year.
"If the rental market continues in this direction we should inevitably see an increase in Perth’s median rent over the coming seasons," the valuation firm said. 
In terms of activity, 14,003 properties were leased during the March 2019 quarter, almost 9% more than the December 2018 quarter.
There were 6,738 properties listed for rent at the end of the March quarter 2019, which was 2% lower than the December quarter figure and 25% lower than the same time last year, showing that competition amongst tenants is ramping up.
It took two days less to find a tenant during the March quarter, decreasing to 42 days.
This figure has crept downwards since the peak of 57 days in June 2017 and shows that tenants need to be decisive and act fast to secure their preferred property.
The suburbs that recorded the best and worst median price growth over the March 2019 quarter are in Figure 2.
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%202.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%202.jpg" alt="">
A North Lake resort style house at<a href="https://www.realestate.com.au/sold/property-house-wa-north+lake-129943614" target="_blank"> 3 Cheshunt Garden</a> (pictured below) has been recently sold for $820,000.
It was last traded for $581,000 in 2005. 
Set on 662 square metres, the house<a href="https://www.realestate.com.au/sold/property-house-wa-north+lake-129943614" target="_blank"> </a>comprises four bedrooms, three separate livings, swimming pool and large garden sheds. 
<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/2019/8/20/north%20lake.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/8/20/perth%203.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/20/perth%203.jpg" alt="">
Note that both Burswood and South Guildford are benefiting from the sale of properties in new developments.
The Peninsula development by Mirvac would be significantly affecting Burswood’s median as some of the properties are selling for over $1.7 million.
The report notes that a few lifestyle living areas have been active over the past six months including Mundaring, Glen Forrest, and Serpentine. Suburban North Lake has tracked well, jumping 8.5% quarter-on-quarter.
This was surprising to see as North Lake’s surroundings have been disrupted lately by the development of the Murdoch Drive Connection – adding extensions from the Kwinana Freeway and Roe Highway to the Murdoch Activity Centre and Health Precinct.
Peppermint Grove has surged over the past quarter taking its median house price from $3.45 million up to $4,025,000.
There has been a fair amount of activity in this region which is nice to see, as the prestige market (previously helping to stabilise the Perth median) faltered over the March 2019 quarter, showing signs of volatility.
Cottesloe, Swanbourne, Mosman Park, North Fremantle, Attadale, Bicton and Dalkeith all experienced decreases in their annual median house prices.
A three bedroom modern house at <a href="https://www.realestate.com.au/sold/property-house-wa-cottesloe-131272570" target="_blank">281 Marmion Street, Cottesloe</a> has recently been sold for $2.2 million (pictured below).
It was last sold at $2.328 million in 2016. 
It comes with three bedrooms, appointed open kitchen, living area, salt water pool and landscaped gardens.
It's within easy walking distance to parkland and shopping centre. 
<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/2019/8/20/cottesloe.jpg" alt="">
This is understandable however, as the March quarter usually experiences an increase in listings.
On top of this, consumer confidence has been low; the fallout from the Banking Royal Commission has created a challenging financial market, and with the distraction of a federal election, homeowners and investors would be hesitant to make any big moves.
"There has been a lot of media coverage around the declining Australian property market (mainly surrounding Sydney and Melbourne) and this isn’t helping confidence in the Western Australian market even though our property market is in a different stage of the cycle to the eastern states," the report stated. 
All of this has forced sales volumes to drop, selling periods to extend and top-end prices have fallen as a result.
"In the upgrader market, our valuers are still seeing a fair amount of activity, however home buyers are generally seeking to purchase at a discounted rate.
"This is pushing out selling periods and it seems that prices may continue to soften as a result, further improving affordability," the valuation firm said. 
Perth’s fringe is still being suffocated by chronic oversupply.
Baldivis is continuing its decline due to consistent land releases putting downward pressure on established dwelling sale prices.
As an example, a property on Avoca Chase had a summated cost of $285,000 in April 2018, being one of the cheapest we had seen at the time.
It was sold in March 2019 on completion for $225,000, declining 21% throughout its construction period.
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-baldivis-130883546" target="_blank">20 Jitarning Brace</a>, Baldvis has been recently sold for $300,000 (pictured below). 
In 2011, it was traded for $430,000.
The house comprises of four bedrooms, separate theatre, large family and kitchen area and double garage. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/20/baldivis%20.jpg" alt="">
"This sales figure is actually considered to be fairly cheap, however it’s part of the unfortunate truth in the current market," the report said.
"Properties in oversupplied regions need to be priced very keenly in order to achieve a quick selling period and avoid them going stale on the market, so listen to the advice of agents about what is realistic and appropriate.
"Developing suburbs in the south-east are in a similar situation. Whitby and Byford have softened over the past six months and it is expected that these areas will stay flat for the remainder of 2019.
"Our predictions for the rest of the year are fairly simple for Perth’s outer regions.
"We expect to see no rebound in 2019 and assume that medians in these areas will continue their slow descent to wherever the median price floor holds, but we expect the overall median house price to remain relatively steady for the wider Perth area as upgraders take advantage of the buying opportunities that are available in many sought after areas." 
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Wider Perth area sees stable median price: HTW residential 

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Residents at 8-12 Sorrell Street, Parramatta have banded together to sell to a developer for $44.5 million.
Set across the river from the Parramatta CBD, several agents claimed that by amalgamating together the 42 unit owners were able to double their achievable sale price.
The sale was three years in the making after the building’s strata committee got an unsolicited offer from another developer.
The sale represents continued confidence in providing residential apartment supply within the seemingly oversupplied Parramatta market. 
But any new apartments won't appear at the site in the next five years.
The Parramatta sale consists of three apartment buildings on a 4,012 square metre site.
It was zoned B4 mixed use with the potential for a project with a gross floor area of up to 27,683 square metres, subject to council approval.
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42 Parramatta apartment owners sell in one line to developer

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EXPERT OBSERVER
Only last month share markets in the US and Australia were at record highs. But ever since President Trump ramped up the US-China trade war again at the start of August, financial markets have seen a significant increase in volatility. Share markets have had 6% or so falls from their highs to recent lows and bond yields have plunged to new record lows in many countries.
This note takes a looks at what is driving the market turmoil, the risk of recession and what it all means for investors.
Market turmoil – what’s driving it
The bout of market turmoil we have been seeing this month basically has three inter-related drivers. First, President Trump ramped up the US-China trade war again with another round of tariffs on China. (See Escalating US-China trade war). Second, Chinese economic data slowed more than expected in July and the manufacturing heavy German economy contracted in the June quarter.
This is on the back of weak global data. Third, economic uncertainty drove more money into bonds pushing bond yields down and driving a further “inversion” of bond yield curves – which is when long-term bond yields fall below short-term yields – leading to more talk of recession.
This all drove share markets down. Of course, the turmoil in Hong Kong, Brexit, tensions with Iran, political uncertainty in Italy and increasing risks that a Peronist government will return in Argentina aren’t helping. Talk of policy stimulus has provided some relief though with occasional sharp rallies in shares.
Australia is not in the trade war but anything that weakens global growth threatens our exports and confidence, so we are naturally seeing bouts of weakness in Australian shares and bond yields just like we did last year when the trade war started.
Reasons for concern
There are several reasons for concern. First, the trade war still shows no sign of letting up. Optimism on US trade talks with China have been dashed several times now, the threat of tariffs on autos remains and maybe China has decided to wait till after next year’s US elections.
Second, the trade war and the twists and turns it takes is weighing on business confidence and it’s hard to make firm investment plans when they may be rendered uneconomic by a tweet from Trump. This is particularly evident in a slump in manufacturing conditions PMIs worldwide. 
Third, it’s been hoped Chinese policy stimulus will offset the trade war for the last year now,but China has continued to slow. Fourth, inverted yield curves have preceded post-war US recessions so the recent inversion can’t be ignored.
Finally, global and Australian share markets are vulnerable to weakness after roughly 25% gains from their December lows to their July highs left them overbought and vulnerable to a correction. This risk is accentuated as the August to October period often sees share market weakness.
 Reasons for optimism
However, while the risks have increased there are several reasons not to get too concerned.
First, President Trump is getting twitchy about the negative economic effects of the trade war: he delayed some tariffs last week after sharp share market falls and had a meeting with major US bank heads on share market falls.
The historical record shows that US presidents get re-elected after a first term (think Nixon, Reagan, Clinton, Bush junior and Obama) except when there were recessions in the two years before the election and unemployment is rising (think Ford, Carter and Bush senior). Trump would be aware of this.
Share markets have regular corrections but major bear markets are invariably associated with recession and so Trump is wary whenever shares take a sharp lurch lower. As a result, our view remains that at some point Trump will seek more seriously to resolve the trade issue.
Second, policy stimulus is being ramped up: with numerous central banks now cutting interest rates and indicating that more cuts are on the way including from the Fed; the ECB looks like it will soon return to quantitative easing; Chinese economic policy meetings indicate that more policy easing is on the way; Germany is reportedly thinking about some sort of fiscal stimulus; and there is talk of more US tax cuts.
This is very different to last year when the Fed was tightening, the ECB ended QE and other central banks including the RBA looked to be edging towards tightening.
Third, while the risks have increased, a US or global recession remains unlikely: services indicators have held up well (see the first chart) and the services sector is the dominant part of most major economies; we have not seen the sort of excesses that precede global and notably US recessions – there has been no investment boom, private sector debt growth has been modest and inflation is low such that central bankers have not slammed the brakes on; &amp; monetary &amp; fiscal stimulus will provide support.
Finally, the decline in bond yields is making shares relatively cheap. The gap of 4.8% between the grossed-up dividend yield on Australian shares of 5.7% and the Australian 10-year bond yield of 0.94% is at a record high.
Similarly, the gap between the grossed up dividend yield and bank term deposit rates of less than 2% is very wide. In other words, relative to bonds and bank deposits shares are very cheap which should see them attract investor flows providing we are right and recession is avoided.
But what about inverted yield curves?
Long-term bond yields should normally be above short-term bond yields because investors demand a higher return to have their money locked away for longer periods. But sometimes long-term rates may fall below short rates.
This happened briefly in the US in the last week in relation to the gap between 10-year and 2-year bond yields but had already happened a few months ago in relation to the gap between the 10-year yield and the Fed Funds rate. 
This so called “inversion” is causing increasing consternation as an inverted US yield curve has preceded US recessions so it’s natural for investors to be concerned. But the yield curve is not necessarily a reliable recession indicator at present: it can give false signals; the lags from an inverted curve to a US recession averaged around 18 months in relation to the last three recessions so any recession may be some time off; various factors unrelated to US recession risk may be inverting the curve such as increasing prospects for more quantitative easing pushing down bond yields, negative German bond yields dragging down US yields and investor demand for bonds as a safe haven from shares; yield curves may be more inclined to be flat or negative when rates are low; and as noted earlier we have not seen other signs of an imminent US recession such as over-investment, rapid debt growth, excessive inflation and tight monetary policy.
So our base case remains that a US recession is not imminent. The Australian yield curve has also gone negative with 10-year bond yields of 0.94% below the cash rate of 1% but the gap between the 10 and 2-year bond yields only just positive. But it’s worth noting that Australian yield curve inversions around 1985, 2000, 2005-2008 and in 2012 were useless recession indicators
What does this all mean for investment markets?
In the short-term share markets could still fall further as trade and growth uncertainties remain and as we go through the seasonally weak months ahead.
This could be associated with further falls in bond yields. In fact, further share market weakness may be needed to get Trump to seriously resolve the trade issue (as opposed to just go through another trade talks/ breakdown cycle again).
However, providing we are right and recession is avoided, a major bear market in shares (ie where shares fall 20% and a year later are down another 20% or so) is unlikely and given that shares are cheap relative to bonds we continue to see share markets as being higher on a 6-12 month horizon.
What should investors do?
Since I don’t have a perfect crystal ball, from the perspective of sensible long-term investing the following points are repeating.
• First, periodic sharp setbacks in share markets are healthy and normal. This volatility is the price we pay for the higher long-term return from shares. After 25% or so gains from their lows last December shares were at risk of a correction.
• Second, selling shares or switching to a more conservative strategy after falls just locks in a loss. The best way to guard against selling on the basis of emotion is to adopt a well thought out, long-term investment strategy.
• Third, when growth assets fall they are cheaper and offer higher long-term return prospects. So, the key is to look for opportunities that pullbacks provide.
• Fourth, while shares may have fallen in value, the dividends from the market haven’t. The income flow you are receiving from a diversified portfolio of shares remains attractive. So for those close to or in retirement the key is to assess what is most import – absolute stability in the value of your investments or a decent sustainable income flow.
• Fifth, shares often bottom at the point of maximum bearishness. So, when everyone is negative and cautious it’s often time to buy.
• Finally, turn down the noise. In times of crisis the negative news reaches fever pitch, which makes it very hard to stick to a long-term strategy, let alone see the opportunities.
Dr. SHANE OLIVER Head of Investment Strategy and Chief Economist AMP Capital
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Plunging bond yields & weak share markets amidst talk of recession: Shane Oliver

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Victoria’s newest boat dry-stack facility has been completed, located within Marina Village Martha Cove development at Safety Beach.
It offers fully enclosed storage for vessels up to 35-feet long (roughly 10 metres) all year round.
It features swipe access to marina arms, a 24/7 security system, on-site security staff, fuel dock, public boat ramp and car parking.
Its on-site marine services includes full-service maintenance management, refit repair sheds, 70-tonne travel lift, hard stand, work berths and trailer storage.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/Subscriber%20strip%20ad.jpg" alt=""></a>
Paul Vernon, national operations manager for d’Albora Marinas, said that the completion of the development would position the boatyard as the premium vessel and maintenance facility in Victoria.
"We’re proud to now be home to the most state-of-the-art boat dry-stack facility in Victoria," Vernon said.
"This completes stage one of the fully integrated boatyard and marine services we are now able to offer."
<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/2019/8/19/boat%202.jpg" alt="">
The first stage of the project’s combined residential development, a 43-apartment building known as The Moorings, is also complete.
A ground floor restaurant, bar and grocer, Martha’s Table, is due to open in early spring this year.
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Victoria’s newest dry-stack boatyard at Safety Beach completed 

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Stockland have announced two new agreements to restock its Victorian pipeline.
They include a townhouse site adjacent to an existing Altona North project in Melbourne’s inner west and a 342 hectare land parcel in the Merrifield North Precinct Structure Plan area in Melbourne’s north.
Stockland CEO of communities Andrew Whitson said the agreement with Food Investments Ltd takes its townhouse exposure in Melbourne’s growing inner-west to around 900.
The Stockland national pipeline of townhouse now sits at roughly 3,200 (with 1,300 in Victoria), according to the company.
As the current landowner, Food Investments Ltd will maintain a stake in the project, which will be developed and delivered by Stockland over the next 5-10 years, subject to planning approvals and market demand. 
The proposed plan also includes a future community centre and an approximate $1.5 million contribution towards affordable housing.  
Stockland also announced that it has entered into a long-dated project delivery agreement to develop 342 hectares of land in the Merrifield North Precinct Structure Plan area, in close proximity to Stockland’s Cloverton community at Kalkallo. 
The agreement has been facilitated on capital efficient terms in a strategic growth area, which is currently unzoned and will undergo a rezoning process over the coming years.
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Stockland announces new agreements to restock its Victoria pipeline

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Plans to establish a university and innovation joint venture in Sydney’s Norwest Business Park have been announced by property company Mulpha.
The development will include a district library, an innovation incubation hub, a university campus, and a community roof top area.
The proposed site is directly connected to the new Norwest Metro Station, which Mulpha claims has opened up the region and is helping their bid to double the precinct’s business and residential capacity by 2029.
The development company expects the successful bidder to start satisfying the immediate demand for vocational education within the next two years, with the development application targeted for lodgement with Hills Shire Council in 2021.
The university campus is planned to be completed in time for the 2025 academic year. 
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