One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada Australia doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

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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The heritage listed former aged care facility, Darling House at Millers Point fetched $7.7 million at auction taking the proceeds for the NSW Government to over $120 million.
Another 10 offerings were sold. Other sales included a terrace at 60 Argyle Place, built in 1845, which sold for just short of $3.2 million, and an 1885 four-storey terrace on Lower Fort Street sold at $3.125 million.
The Darling House property is the latest, and most expensive freestanding offering, from the 50 houses that have been offloaded so far by the government.
Most have been Georgian terraces row houses. Some 293 government-owned properties in Millers Point and The Rocks, are set for sale after Treasury estimated it would cost up to $100 million to restore and maintain them.
Darling House sold through McGrath agent Richard Shalhoub inconjunction with Savills International.
The first sale in August 2014 saw a four storey terrace on Kent Street sold for $1.91 million, which got flipped 10 months later for $2.52 million.
The cheapest sale came in September when a two bedroom property on Kent Street sold for $1.55 million.
The record single terrace sale was on Lower Fort Street, where the five bedroom, 1879 Pointview in Milton Terrace fetched $6.67 million in December last year.
The Darling House sale set the benchmark for a freestanding home in the government selloff.
The previous freestanding record in the government sales saw the 1830's freestanding heritage listed Grimes Cottage on 410 sqm sell last year for $4.23 million.
The proceeds of the sell off of former social housing historic terraces is being directed towards new housing estates in outer Sydney suburbs. 
Shayne Harris and Robert Lowe of Savills marketed Darling House as having five more bedrooms and bathrooms than Grimes cottage.
Set on 760 sqm, the early 1840's home, with 1990s extension, had a price guide of $5.5 million to $6 million.
It was formerly known as the Rocks Cottage Type Hospital, the standalone house offers 10 bedrooms, 10 ensuite bathrooms and picturesque gardens in a quiet enclave.
It has a sandstone façade, a cantilevered Victorian verandah, a large entertainers deck and a separate office.
McGrath was appointed by Government Property NSW in January as the exclusive agent to market the sale of up to 50 terrace properties at Millers Point by June 30, 2016.
The next tranche of 12 Millers Point properties go to market through McGrath.
McGrath Edgecliff sales agent, Richard Shalhoub, said overall it was a very successful night with all 11 properties selling.
"I believe the results are reflective of the continued strength of the Millers Point market.
"There was healthy bidding on the majority of properties with an overall consistent flow of buyer activity.
"The sales were diverse in both price and style of property which catered to a wide buyer market looking to purchase in Millers Point," said Mr Shalhoub.
The 10 other Millers Point properties were auctioned with the following results: 
20 &amp; 22 Kent Street: Neighbouring two and three bedroom residences, sold for $1.985 million and $1.78 million respectively. 
28 Kent Street: The four bedroom two storey terrace sold for $2.46m million. 
46 Kent Street: Known as ‘Chelsea House’, this five bedroom, two storey terrace sold for $2.525 million. 
38 Argyle Place: A four bedroom residence, sold for $2.92 million. 
40 Argyle Place: A three bedroom terrace, sold for $2.75 million. 
60 Argyle Place: A wide three bedroom terrace, sold for $3.175 million. 
51 Lower Fort Street: Known as ‘Wendovir’, this four bedroom property sold for $3.125 million. 
63 Lower Fort Street: The three bedroom residence in Vermont Terrace sold for $2.555 million. 
71 Lower Fort Street: A three bedroom two storey residence, sold for $2.56 million.
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jrobinson-rf4aSBido9

Heritage listed Darling House, Millers Point sold for $7.7 million

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Melbourne's Warrandyte topped the list of suburbs in December 2015 quarterly growth, according to latest REIV stats. 
Nearly all (98%) of dwellings in Warrandyte were houses, according to RP Data.
<a href="/images/2016/02/26/Screen%20Shot%202016-02-26%20at%201.13.02%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/26/Screen%20Shot%202016-02-26%20at%201.13.02%20PM.png" alt="">
 
*Only suburbs with at least 50 sales in the relevant quarter are included
Property Observer looked up recent sales in Warrandyte on <a href="https://realestateview.com.au/" target="_blank">www.realestateview.com.au</a> and came up with these:
<img src="/images/2016/02/25/Screen%20Shot%202016-02-25%20at%202.51.43%20PM.png" alt="" width="608" height="377">
1. A four-bedroom house with a landscaped native garden at <a href="https://realestateview.com.au/real-estate/15-west-end-road-warrandyte-vic/property-details-sold-residential-9801293" target="_blank">15 West End Road</a> (above) sold for $1,060,000.
<img src="/images/2016/02/25/700_w1.jpg" alt="" width="547" height="391">
2. A five-bedroom two-storey house on <a href="https://realestateview.com.au/real-estate/60-lynette-avenue-warrandyte-vic/property-details-sold-residential-9734801" target="_blank">60 Lynette Avenue</a> (above) fetched $1,070,000. 
<img src="/images/2016/02/25/w2.jpg" alt="" width="521" height="316">
3. A three-bedroom dwelling at <a href="https://realestateview.com.au/real-estate/230-heidelberg-warrandyte-road-warrandyte-vic/property-details-sold-residential-9715454" target="_blank">230 Heidelberg-Warrendyte Road</a> (above) went for $990,000.
 
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jchancellor-FAypfDUnLy

Warrandyte tops Melbourne median price growth in December quarter

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A million dollars is a lot of money. But that is the budget needed by a typical family to own a reasonable home in a major city like Sydney that is fairly close to work (usually the CBD), notes property expert John McGrath in his recent Switzer blog.
While agreeing that it’s difficult for many young people to get into the market from a standing start, he argues that as our markets grow in value, so does the wealth of about seven out of 10 Australians because that’s how a major proportion own a home either outright or with a mortgage. 
But back to the million dollar budget. New research published by independent data analysts CoreLogic RPData shows the number of suburbs across Australia with a median property price above $1 million has risen by 31% in the past year alone. There were 406 suburbs nationwide with a median value above $1 million at the end of 2014. Now there’s 530.
He also notes that the number of million dollar suburbs rose by about the same amount nationally (31 percent) as it did in the capital cities combined (31 percent) and in our regional areas (33 percent). 
And no prizes for guessing which cities had the lion’s share of new million dollar suburbs — Sydney and Melbourne by a country mile. 
Breaking down the numbers into state figures, New South Wales experienced a 32.7% bump in the number of $1 million suburbs but it was Victoria leading the way with 46.7 percent. 
Among the rest: 15.4% in Queensland; -7.7 percent in South Australia; -9.5 percent in Western Australia; and no change in Tasmania, the Northern Territory and the Australian Capital Territory. 
Putting New South Wales and Victoria together, these two states now account for 85 percent of all $1 million suburbs nationwide. 
CoreLogic RPData also put together a list of the Top 10 most expensive suburbs nationally for houses and apartments as of the end of 2015. 
The median prices for the Top 10 house suburbs ranged from around $3.3 million in Whale Beach on Sydney’s Northern Beaches up to $6.3 million in Centennial Park in Sydney’s Eastern Suburbs. 
The median prices for the Top 10 apartment suburbs ranged from around $1.2 million in North Ryde in Sydney’s Northern Districts to $2.2 million in Point Piper in Sydney’s Eastern Suburbs.
Top 10 Most Expensive Suburbs – Houses 
1. Centennial Park, Sydney 
2. Point Piper, Sydney 
3. Darling Point, Sydney 
4. Vaucluse, Sydney 
5. Bellevue Hill, Sydney 
6. Tamarama, Sydney
7. Dover Heights, Sydney 
8. Peppermint Grove, Perth 
9. Double Bay, Sydney 
10. Whale Beach, Sydney 
Top 10 Most Expensive Suburbs – Apartments 
1. Point Piper, Sydney 
2. Darling Point, Sydney 
3. The Rocks, Sydney 
4. Cabarita, Sydney 
5. Millers Point, Sydney 
6. Cremorne Point, Sydney 
7. Huntleys Cove, Sydney 
8. Balmain East, Sydney
9. Tamarama, Sydney 
10. North Ryde, Sydney
Of course, a million dollar median means the middle price, so there’s an equal number of homes valued below $1 million as there are above $1 million. But obviously, a suburb with a $1 million median is going to have more expensive housing all round. 
McGrath says it is still better to buy above a suburb’s median because that means getting a superior product to what is ‘the typical home’ for the area. 
A property that is 10-20 percent above the median price is going to have better features, providing a better lifestyle and more than likely better capital growth over the long term, he notes.
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prateek24-ezbwHMbNAk

Million dollar suburbs? Still makes sense to buy above the median price: John McGrath

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The majority of home buyers expect housing prices to be flat or lower in 2016, though more than a third believe they will rise, according to the latest analysis of consumer trends by Westpac in its monthly Red Book.
The overall picture around housing, though, is still unclear with choppy reads on both house price expectations and ‘time to buy a dwelling’ indexes through Jan-Feb, although in both cases the sharp slides seen in 2015 appear to be levelling out.
The Westpac-Melbourne Institute Consumer House Price Expectations Index fell 12.5% in February after a 21.4% jump in January, with the index showing signs of settling around the 110 level.
It is still in net positive territory but well below the 10-year average of 125.
Just under 61% of consumers expect prices to be flat or lower in the year ahead, while 35% expect a 0-10% rise and four percent expecting double-digit gains, the report says.
There is a seasonal element to price expectations, though, the report notes and like other housing market measures, house price data is also less reliable over the January-February period in part due to the summer holidays. But available data does show tentative signs of stabilisation after an abrupt slowdown in Q4 2015. 
Price measures show a 0.8% gain for January and a 0.2% rise in the February month to date, RP Data-Corelogic shows.
"The state breakdown shows price expectations have been volatile across the board but are showing signs of stabilising in NSW, are somewhat firmer in Vic &amp; Qld, and falling away sharply in WA," the report notes.
The related ‘time to buy a dwelling’ index also showed volatility through Jan-Feb but with tentative signs that a base may be forming after the sharp pull-back in the first half of 2015. 
Sydney and Melbourne show signs of firming, but at 99.3, the overall level is still weak though, 23 ppts below its long-run average.
The index fell 12.1% in February after bouncing 13.8% in January, with some of the volatility again being seasonal.
But the report points to "some interesting snippets around broad measures of market turnover and auction activity".
"With conditions very uneven across states, auction markets heavily skewed to Syd-Melb and finance data affected by ‘switching’ between investor and owner-occupier segments, turnover is currently the most reliable gauge of total market activity. Latest figures, for Nov, confirm a substantive slowdown in line with ‘time to buy’ readings mid-last year," it says.
Auction clearance rates in early 2016 hint at some firming. Although activity is still 60% below normal, both Sydney and Melbourne have seen clearance rates around 75% vs 62% and 69% respectively for December.
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Housing prices expected to be flat or lower in 2016: Westpac Red Book

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Economists believe the Reserve Bank will keep the cash rate on hold at 2 percent ahead of Tuesday's monthly board meeting.
31 experts surveyed for the <a href="https://www.finder.com.au" target="_blank">finder.com.au</a> Reserve Bank Survey believe the Reserve Bank is comfortable with the current cash rate setting, with Shane Oliver from AMP Capital saying it's basically in 'wait and see mode' regarding the jobs market and the potential impact of global financial turmoil.
Westpac's Bill Evans said the Board will be assessing whether the recent improvement in labour market conditions was to continue and whether recent financial market turbulence presaged weaker global and domestic demand.
According to the survey, 39 percent of respondents  predict ‘out of cycle’ interest rate changes this year despite the overwhelming majority expecting that the Reserve Bank will keep the cash rate on hold or drop it in 2016.
Some 45 percent of respondents believe we are at the bottom of the cycle and 26 percent forecast one further rate cut to 1.75 percent. 10 percent of those surveyed predict the cash rate will fall to 1.50 percent this cycle. Nearly half of those polled believe the next move from the RBA will be to increase rates, however not until 2017.
Finder.com.au consumer advocate Bessie Hassan said some lenders have a tendency to keep their rate hikes quiet and with the uncertainty in the market, it’s really important that homeowners don’t become complacent about their mortgages and therefore miss any important news that may impact their finances. “Australians should be cautious – experts are divided about what lenders will do next. While we don’t expect a dramatic upswing in rates, they can turn very quickly and catch borrowers by surprise.  “But if you do your homework now those changes won’t become a burden. A little planning can go a long way.”  
Tips on how to maximise your mortgage now 
<ul>
<li dir="ltr">
Consider fixing your home loan. Look around at other financial institutions, not just your current lender, to find the best deals. The lowest 3-year fixed rates on finder.com.au currently sit at 3.99 percent.
</li>
<li dir="ltr">
Pay off more on your mortgage each month or drop money into an offset account while interest rates are at record lows to give  yourself a buffer against possible increases.
</li>
<li dir="ltr">
Cut back on spending to be better placed with a rise in interest rates. Those savings can help service your mortgage debt.
</li>
</ul>
 What our experts had to say in the March Reserve Bank Survey: Shane Oliver, AMP Capital: “Recent Reserve Bank commentary suggests a degree of comfort with the current level for the cash rate and while it retains an easing bias not enough has changed to suggest it is about to act on it. It's basically in wait and see mode regarding the jobs market and the potential impact of global financial turmoil.”
Garry Shilson-Josling, Australian Associated Press: “For the Reserve Bank, it's a matter of "so far, so good". In his testimony to parliament on Friday, Reserve Bank governor Stevens made it pretty clear he was in no hurry to move the cash rate.The big question for the RBA is to reconcile the strong labour market data and the weaker GDP data. If jobs growth continues in line with its recent trend, talk of rate hikes will be grow louder over the second half of this year.”
Steven Pambris, Bank Of Sydney: “Current Market Conditions remain subdued.”
Richard Robinson, BIS Shrapnel: “Although below trend, economic growth is still holding, with enough positives to outweigh the negatives. Confidence rebounded in February, so consumers are not panicking, and households will continue to spend, albeit with modest growth.”
Mark Brimble, Griffith University: “The majority of indicators are weakening (employment, confidence, sentiment, output, market volatility, capex, the ill advised Fed movement last year, default rates, oil related debt concerns, etc) and the rise in rates by banks (which they argued was due to APRA capital requirements) has further dampened growth.  The Reserve Bank has room to move on rates and the economy needs the support - both the actual and the psychological.”
Chris Caton, BT Financial Group: “No reason to do anything else.”
Michael Blythe, CBA: “Economy is responding to low rates and lower AUD. So no need for more stimulus at this point.”
Savanth Sebastian, CommSec: “Reserve Bank Board Members will wait on more data on just how well the economy is tracking in early 2016.”
Dr Andrew Wilson, Domain: “Labour market still holding.”
Jason Spencer, Homely.com.au: “Credit growth is growing at a moderate pace while the dollar remains around the reasonable 70c mark.”
Shane Garrett, Housing Industry Association: “The Reserve Bank remains open to the possibility of reducing interest rates, but is only likely to do so should the economic situation internationally deteriorate further.”
Paul Bloxham, HSBC: “Gross is solid.”
Michael Witts, ING Bank: “The domestic economy is continuing to be resilient in the face of the global volatility. the Bank will want to see more information prior to making a call.”
Grant Harrod, LJ Hooker: “Despite a slight increase in the unemployment rate, there are no clear signs that the Australian economy has deteriorated. This will see the Reserve Bank continue its wait and see approach. Slower house price growth and low levels of inflation provide the Reserve Bank with enough room to cut rates should they need to stimulate growth during the first half of 2016.”
John Caelli, ME: “Weaker than expected global growth.”
Mark Crosby, Melbourne Business School: “Despite a volatile international environment the local economy is still stable and the inflation outlook would warrant holding for the moment.The current environment is quite volatile, and my expectation is that this will subside as China in particular stabilises. But there is a non-trivial downside risk which would alter the path for rates.”
Lisa Montgomery, Mortgage &amp; Consumer Finance Expert: “There is no economic data to support any change in cash rate.”
Jessica Darnbrough, Mortgage Choice: “Domestic data has been relatively upbeat of late, thus providing the Reserve Bank with no real reason to change their stance on monetary policy.”
Ken Sayer, Mortgage House: “Economic indicators ‘lack lustre’.”
Chris Schade, MyState Bank: “Whilst it remains more likely the Reserve Bank will cut as oppose to raise rates in 2016, conditions in the domestic economy do not currently warrant such. That said, the Board will be closely watching economic developments over the coming period and remains ready to act if required.”
Saul Eslake, Independent Economist: “There is no good reason for the Reserve Bank to change the cash rate. Monetary policy is already highly accommodative; although the economy is growing at a below-trend pace, the unemployment rate has been falling of late and 'underlying' inflation is comfortably within the Reserve Bank's target band. Although the ongoing turmoil on financial markets potentially represents a source of downside risk, there is as yet no evidence of that potential being realized: and as the Reserve Bank has noted, they have scope to cut rates further should that prove necessary.”
Alan Oster, NAB: “Too early to tell what is happening in non mining post equity route.”
Peter Boehm, onthehouse.com.au: “Holding rates seems like the sensible option at this stage. With inflation under control (and unlikely to be a problem for the next twelve months or so), unemployment at sub 6% with good participation rates and reasonable albeit below trend economic growth as measured by GDP, there is no need to help stimulate the economy by dropping rates further right now.  In any event, there is some doubt that a drop in the Reserve Bank’s Cash Rate would be passed on to consumers in full through lower borrowing costs as lenders aim to shore up their balance sheets and bottom line. Further, it is also doubtful that any further reduction in interest rates would help stimulate economic activity to the extent hoped given the effect of global forces currently impacting market sentiment here in Australia – with China’s response to its economic situation topping the list.  It is also worth noting that dropping rates further may hurt older Australians who rely on earnings from their savings to help fund their retirement living.   If rates were to fall further it’s a signal that our economy is probably in a lot worse shape then we’re led to believe.  A key area of economic focus should be on how to effectively fund the provision of what has been described as “expensive government services” and this relies on reform of the tax system and not interest rates.” 
Zoe Pointon, OpenAgent.com.au: “Uncertainty in the equity markets and slowing property price growth.”
Jonathan Chancellor, Property Observer: “The Reserve Bank loves to move slowly when lowering rates, so not yet.”
Noel Whittaker, QUT: “Uncertainty.”
Angus Raine, Raine &amp; Horne: “The Reserve Bank will stick with its 'wait and see' approach from February. It will seek to weigh inflation data, financial and commodity market turmoil, and business confidence, against local real estate data which appears to be on the improve compared to the end of 2015.There are plenty of buyers and investors in the Sydney, Melbourne and Brisbane markets, who missed out in 2015 and have decided to return to the market for a second shot at buying a property. While we don't expect the double-digit growth of 2015, we still expect to see growth in some of Australia's biggest real estate markets, especially in light of ongoing share market volatility.”
Nathan McMullen, RAMS: “Reasonable prospects for growth in the economy remain driven by current accommodative interest rate settings.”
Janu Chan, St.George Bank: “The Reserve Bank is in a wait and see stance. Low inflation and global uncertainty keeps the possibility of a rate cut alive, but it won't feel the need to while the labour market is performing quite well.”
Nicki Hutley, Urbis: “The domestic economy continues to post moderate growth on output and employment. The impact of recent global instability on the real economy is as yet unknown.”
Bill Evans, Westpac: “The Board will be assessing whether “the recent improvement in labour market conditions was continuing and whether recent financial market turbulence presaged weaker global and domestic demand...  We assess that the balance of these forces will see the unemployment rate hold around 6.0% during 2016 before grinding lower in 2017, as the economy gains momentum.” 
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po-LsXgBTHBmX

1.5% cash rate forecast, but no move at March RBA: finder.com.au

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<div>Two neglected terraces houses in adjoining inner city suburbs went to auction last night, each having their own terribly sad tale.</div>
<div> </div>
<div>Both seemed set to be pretty much a battle of builders to secure the home improvements project in Paddington and Surry Hills.</div>
<div> </div>
<div>The run down Paddington terrace on 50 sqm in Sydney's prestigious inner east suburb secured $1 million at auction through Di Jones selling agent Adam McKay.</div>
<div> </div>
<div>The Paddington property originally had an auction guide of $750,000 but the auction guide was cautiously updated to $800,000.</div>
<div> </div>
<div>
The tradie's got beat as sold for $1 million to a professional home decorator who beat off very strong tradie buyer interest.
<div> </div>
<div>"I like to do up old homes," the (unnamed) Rozelle buyer said. "I've already called my builder. He will do a good job, and I will enjoy living there," she said after the auction win.
</div>
<div> </div>
<div>Yellow work vests and steel capped work boots galore at the auction in the upmarket auction room.</div>
<div> </div>
<div>The tradie underbidder was at $975,000. </div>
<div> </div>
<div>The opening $400,000 offer was refused, so bidding instead got under way at $675,000 on the Iris Street offering.
</div>
</div>
<div> </div>
<div>McKay noted the prospective budget for even the most essential renovation kept most young families from participating in the auction, despite the price being well below the norm.</div>
<div>
<div>
 Paddo's median house price sits around the $1.7 million mark, according to CoreLogic RP Data. It is $1.4 million in Surry Hills.
</div>
</div>
<div> </div>
<div>Renovation costs are currently soaring in Sydney, up eight percent year on year, compared to a national increase of only 1.5 percent, according to a recent report by services marketplace Serviceseeking.com.au.
</div>
<div> </div>
<div>Carpentry and building saw the largest price increases, up 26 percent and 18 percent due to the labour shortages in the state.</div>
<div> </div>
<div>There are two bedrooms, one bathroom and no toilet as such in the home previously owned by late artist Christina Coombes.</div>
<div>
The property was involved in a bizarre court case where an Iraqi refugee tried to claim the dank hovel by suggesting he was Christina's lover, cat minder and dancing partner for 17 years.
Christina's neighbours intervened and said that he was nothing more than a fruit and junk salesman who occasionally sold items to her.
Christina bought the property with her late butcher husband Kenneth Coombes in 1965 for £3,200.
</div>
<div>Fewer and fewer property in such disrepair - often with the old time dunny in the back yard - now come on to the market given the decades of million dollar makeovers that owners have undertaken in what is perhaps Sydney's most primped and primed suburb.</div>
<div>
<div> </div>
<div>Nothing these days under $1 million.
</div>
<div> </div>
<div>
The Surry Hills offering came with its own tale with the woman Sydney forgot to be honoured by the man who bought her terrace house for $1,105,000.
</div>
<div>
Natalie Jean Wood’s skeletal ­remains were found in 2011 in her dilapidated Surry Hills home, where they had lain undiscovered for almost eight years. She was 86 years old.
Her terrace house at 139 Kippax St, described by real estate agents at PRDnationwide Perez Real Estate as completely ­uninhabitable, sold at auction.
“I felt very sad by the story and I’m going to find her grave and leave flowers on it,” the buyer told The Daily Telegraph.
“It just goes to show how sad it is that people aren’t close to their neighbours any more. I won’t forget her.”
Before the auction, agent Corrinne Olsen said she expected the deceased estate to go for about $600,000 to $700,000 based on early interest.
“I thought at most it would go for $850,000,” she said.
There were 28 registered buyers.
</div>
</div>
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Sydney's timewarp inner city auctions attract strong buyer interest

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SPONSORED POST
Macquarie Park is the latest suburb on the lips of Sydney’s savviest property seekers.
The median unit price has risen 49.9 per cent in the past five years to $671,000, according to the latest CoreLogic RP Data statistics.
Macquarie Park already has a larger office market than North Sydney and Parramatta, is home to Sydney’s largest shopping centre and boasts a world-class university. The area is tipped to become Australia’s fourth largest CBD by 2030.
At 16 km northwest of Sydney’s CBD, Macquarie Park is nestled between three train stations with a new train line to service the suburb by 2019. 
Australian property developer and hotelier TOGA this month unveiled its latest residential tower in the area offering buyers a bite at the rapidly growing hotspot.  Designed by award-winning Australian architects Turner, One Twenty Macquarie will offer buyers a choice of one, two and three-bedroom apartments, with prices starting from $600,000.
It is set to be the tallest tower in the suburb at 23-storeys.
All 196 luxury apartments will have access to the development’s premium amenities including a gymnasium, theatrette, landscaped gardens and a retail café. All apartments include car parking. One Twenty Macquarie is a short walk to Macquarie University, Macquarie Shopping Centre and Macquarie University train station, luring investors, the area’s working population and families alike.
TOGA has reported strong interest ahead of the March 5 sales launch.
TOGA Chief Executive of Development and Construction, Fabrizio Perilli, said One Twenty Macquarie would offer buyers unsurpassed convenience and exceptional liveability in an area with a strong long-term outlook.   
“With significant investment in the region for infrastructure and services, Macquarie Park is no doubt an excellent choice for buyers,” Mr Perilli said.
“Occupying a prime position along the rail corridor, One Twenty Macquarie is ideally located to connect to the Sydney CBD as well as Macquarie Park’s thriving local metropolis,” he said.
“One Twenty Macquarie is designed to enrich the lifestyles of its residents with sophisticated amenities and spectacular views,” Mr Perilli added.
Views from the One Twenty Macquarie apartments’ include the city, North Sydney, Chatswood, Homebush and sprawling Lane Cove National Park.
One Twenty Macquarie’s apartments will feature Miele appliances and premium finishes including Caesarstone benchtops, mirrored splashbacks, timber flooring and custom joinery.
Buyers can choose between Arcus or Opacus – either understated light or dark palettes featuring softly-layered earthy tones.
Construction is scheduled to begin mid-year with completion expected in 2018.
TOGA has already enjoyed sales success with two developments in the same area, the 618-apartment sold-out development Macquarie Central and the 164-apartment Macquarie Green, 90 per cent of which has already been sold.
One Twenty Macquarie is located at 120 Herring Road, Macquarie Park.
Potential buyers can see a replica of a two-bedroom apartment at One Twenty Macquarie’s display, which is a fully-appointed and furnished 82sqm floor plan featuring available finishes, accurate ceiling heights and apartment upgrade options.  
One Twenty Macquarie’s project gallery can be viewed by appointment only and is located at: G03/13-15 Lyon Park Road Macquarie Park NSW 2113
For more information visit <a href="https://www.onetwentymacquarie.com.au" target="_blank">www.onetwentymacquarie.com.au </a>or call 1300 926 946.
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Savvy property seekers eye Macquarie Park

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The top sale of the week was Rovina, a five bedroom, five bathroom home Portsea which sold for $10.7 million, according to CoreLogic RP Data.
The early 1960's home at 3808 Point Nepean Road was sold through Kay &amp; Burton Portsea.
In a distant second was <a href="https://www.realestate.com.au/property-house-nsw-cammeray-121670706" target="_blank">46a Cowdroy Avenue</a> in Cammeray which sold for $6 million through Richardson &amp; Wrench. 
The property features extensive outdoor living areas with views over Willoughby Bay as well as a fully tiled glass edge pool, a gym and a cellar.
 
Top Ten
3808 Point Nepean Road, Portsea, VIC: 5 bed, 5 bath, 3 car house, $10.7 million, Kay &amp; Burton Portsea
46a Cowdroy Avenue, Cammeray, NSW: 5 bed, 4 bath, 2 car house, $6 million, Richardson &amp; Wrench Mosman/Neutral Bay
78 Sackville Street, Kew, VIC: 5 bed, 2 bath, 2 car house, $5.71 million, Jellis Craig Hawthorn
23 Chamberlain Avenue, Rose Bay, NSW: 4 bed, 2 bath, 1 car house, $4.3 million, Ray White Unlimited North Bondi
75 Carrington Parade, Curl Curl, NSW: 5 bed, 2 bath, 4 car house, $3.68 million, McGrath Estate Agents
11 Stanley Street, Chatswood, NSW: 6 bed, 3 bath, 2 car house, $3.35 million, McGrath Estate Agents
116 Mont Albert Road, Canterbury, VIC: 5 bed, 4 bath, 4 car house $3.35 million Fletchers Canterbury
25 Alfred Street, Kew, VIC: 4 bed, 3 bath, 2 car house, $3.25 million, Kay &amp; burton Hawthorn.
4 Ridgemont Close, West Pennant Hills, NSW 5 bed, 3 bath, 3 car house $3.1 million, Louis Carr Real Estate West Pennant Hills/ Cherrybrook 
20 Addison Avenue, Roseville, NSW: 4 bed, 3 bath, 2 car house, $3.05 million, McGrath Estate Agents 
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Portsea tops the 10 highest sales this week: CoreLogic RP Data

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A Chinese group has bagged a 1,441 sqm South Melbourne mixed-use development site for $15.07 million, more than $5 million above what the vendor paid only three years prior.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-south+melbourne-501758938" target="_blank">41-49 Bank Street</a> site was sold through an international CBRE expressions of interest campaign.
The agents said the EOI campaign attracted interest from both offshore developers and prominent local groups.
“We anticipate continued strong demand from Chinese developers throughout 2016, irrespective of current concerns with the Chinese stock market, which will drive positive outcomes including jobs in construction, planning and design,” CBRE suggested. 
The site has permit approval for a 16 level mixed-use development, with existing permitted height above current planning parameters. It offers dual street frontage totaling more than 60 metres. 
The location is close to Melbourne's arts, sporting and entertainment precincts.
Julian White, associate director of CBRE’s Victorian Development Sites team, said the continued prominence of Chinese buyers was encouraging, particularly for Melbourne’s accommodation sector.
“Apartment living is the way of the future in Melbourne. The continued high absorption rates of CBD and inner city apartments are a clear sign that the market needs to continue to build more apartments, not slow down development.”
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Chinese developer banks $15 million development site in Melbourne

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Imagine walking through the doors of your new apartment even before a brick has been laid, feeling its interiors and the spaces... 
Brisbane’s Blue Sky Private Real Estate is using Oculus Rift 3D technology to give prospective buyers a walk-through of its apartments at its latest Kangaroo Point development, The Duke, before construction even begins.
Visitors to <a href="https://www.blueskyfunds.com.au/the-duke/" target="_blank">The Duke's display suite at 444 Vulture Street</a> can inspect the property in 3D, where you see photo-realistic impressions of the apartment interiors, by wearing the Oculus Rift headset.
The software has been created by Australian architectural 3D visualisation studio, Binyan.
Blue Sky development manager Edan Norris said the new Facebook-owned technology was a game changer for the industry.
“Oculus Rift got gamers very excited at first, but the potential for the architecture and real estate industry is enormous,” he said.   “Buying a property is a huge decision, one that is very emotional. We want to give prospective owners the ultimate preview into our apartments to ensure they make an informed decision, as we know buying off-the-plan can be daunting.   “As buyers become more sophisticated, the Oculus Rift walk-through will give people a much better sense of space than any artist impressions, and allow them to take in the impressive view from the rooftops.”   Situated close to the Gabba, at the corner of Vulture and Duke streets, the new 15-storey development features 125 one, two and three bedroom apartments targeted at owner occupiers.
One-bedroom apartments range from $375,000 to $450,000, two-bedroom from $475,000 to $655,000 and three-bedroom from $790,000 to $830,000.   Blue Sky Private Real Estate is injecting $185 million in Brisbane’s south side with five residential developments underway to capitalise on rising demand.
The Duke is one of its most luxurious developments. Its will feature marble look benchtops, soft timbers and leather trim. Two landscaped rooftop terraces allow views of the city skyline, while resident facilities include a lap pool, BBQ dining and lounge areas, a herb and citrus garden space, an outdoor cinema screen and a tiered timber grandstand with direct views into the Gabba stadium.   “The architects, Rothelowman, have created a development that is contextually relevant,” Norris said.   The Duke is two kilometres from Brisbane CBD, with Kangaroo Point cliffs, Brisbane River, South Bank, the Story Bridge and the Pacific Motorway all a short walk.     Blue Sky Private Real Estate is a division of Blue Sky Alternative Investments (ASX: BLA).
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