Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

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?

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

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Investors almost match owner occupiers in the latest financing chart in the April RBA chart pack.
<a class="advance-link" href="https://www.rba.gov.au/chart-pack/household-sector" title="Housing Loan Approvals graph" rel="history"> <img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6br-hla-small.gif?accessed=2015-04-08-11-30-54" alt="Housing Loan Approvals graph"></a>
The extent of the continued Sydney house price surge is well illustrated in the latest RBA chart pack. Yesterday's <a href="/expert-insights/finance/prices-varied-though-sydney-strong-says-rba-governor-glenn-stevens-april-statement">RBA governor's statement</a> noted dwelling prices continue to rise strongly in Sydney, though trends have been more varied in a number of other cities. 
"The bank is working with other regulators to assess and contain risks that may arise from the housing market."
<a class="advance-link" href="https://www.rba.gov.au/chart-pack/household-sector" title="Housing Prices graph" rel="history"> <img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6bl-houspri-small.gif?accessed=2015-04-08-11-30-54" alt="Housing Prices graph"></a>
Household liabilities remain relatively steady, but net worth is still behind the pre-global financial crisis impact.
<a class="advance-link" href="https://www.rba.gov.au/chart-pack/household-sector" title="Household Wealth and Liabilities graph" rel="history"> <img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6tr-hhwl-small.gif?accessed=2015-04-08-11-30-54" alt="Household Wealth and Liabilities graph"></a>
Debt is still high, but interest paid is much lower in the low cash rate times.
<a class="advance-link" href="https://www.rba.gov.au/chart-pack/household-sector" title="Household Finances graph" rel="history"> <img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6tl-hhfin-small.gif?accessed=2015-04-08-11-30-54" alt="Household Finances graph"></a>
The transition to a construction led economy is apparent in private residential building approvals.
The household savings rate is dipping.
<a class="advance-link" href="https://www.rba.gov.au/chart-pack/household-sector" title="Household Saving Ratio graph" rel="history"><img src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/5tr-hhsaving-small.gif?accessed=2015-04-08-11-30-54" alt="Household Saving Ratio graph"></a>
The banks are doing okay with profitability and lower bad debts.
<a class="advance-link" href="https://www.rba.gov.au/chart-pack/banking-indicators" title="Bank Profitability – Key Indicators graph" rel="history"> <img src="https://www.rba.gov.au/chart-pack/images/29-30-banking-indicators/29tr-bnkprof-small.gif?accessed=2015-04-08-11-38-06" alt="Bank Profitability – Key Indicators graph"></a>
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jchancellor-FAypfDUnLy

The chart that shows Sydney's increasing property market risks: RBA's April chart pack

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In my 30 years of selling real estate I’ve seen some amazing market trends - but what I am seeing now is arguably the most amazing trend that Australian real estate has ever witnessed before. 
The last such event, which happened on a much smaller scale, was the introduction of the capital gains tax on 20 September 1985. I was a real estate agent on my L plates who was just learning the trade and caught the back end of a mad investor rush to buy investment properties before the new legislation was enacted.
It’s called the Grandfather clause or the Grandfather Policy. It's where an old rule continues to apply in certain existing situations, while a new rule is introduced and will apply to all future cases. Cue negative gearing which is now front and centre of Australia’s great tax debate. What we are seeing today is just how smart and savvy Australian property investors are as they vigorously gold-plate their property investment portfolios. The reality of being guaranteed full deductions on your investment property explains exactly why property investors have run amok with Sydney real estate.
The government recently released its tax discussion paper which just so happens to be spruiking debate on negative gearing and capital gains tax. Property investors in Australia are all over the “Grandfather clause” simply because of the sheer weight in numbers of property investors  - in 2011-12 a staggering 883,325 of 1.266 million taxpayers claimed deductions. Negative gearing by property investors reduced personal income tax revenue in Australia by $600 million in the 2001-02 tax year, $3.9 billion in 2004-05 and $13.2 billion in 2010-11. So one can only shudder to think what this year’s deductions will be like given the investor boom.
But let’s now look at what effect this is having on local real estate markets. They reveal (something that I have been alluding to for ages) exactly how household sentiment has radically changed when it comes to buying the principal place of residence today – thanks mainly to the global financial crisis which has re-calibrated how households approach their modern day property folios.
Trading up is now a thing of the past with households now opting to renovate and then leverage investment properties from their principal place of residence – that’s right, the gold plated guaranteed tax deduction.
Look at how many houses are available today in Neutral Bay - the number is zero. If you look at the number of houses available today in Cremorne the number is also zero. When I go back over our house data for the last five years on a weekly basis Neutral Bay averaged 12 houses on the market each week and Cremorne averaged 15. Mosman houses have averaged 88 houses and today there are just 57 and going lower. What we are seeing is unprecedented given whilst the principal place of residence is tax free, households have decided to stay put and lock in long-term real estate investment property with a locked-in maximum tax deduction. All thanks to the Grandfather clause.
For the record this is the very first time that no houses have ever not been for sale in Cremorne and Neutral Bay. A coincidence? I don’t believe so.
The Sydney Morning Herald ran a piece last week – <a href="https://news.domain.com.au/domain/real-estate-news/property-investors-use-of-negative-gearing-contentious-20150330-1maq16" target="_blank" title="Property investors’ use of negative gearing contentious.">Property investors’ use of negative gearing contentious.</a> 
My commentary: “Given all that’s currently going on with overseas buyers – more particularly, the uncertainty of exactly what’s happening – it would only be reasonable that with all new developments, only Australian citizens can qualify to buy. The Australian government has lost all control for new developments where it is now imperative that the multitude of loopholes are immediately addressed. It’s that serious that our government is only now just starting to understand the debacle we have with overseas buyers who are the driving force behind these booming markets.
"When negative gearing was introduced back in July 1985 by the Hawke/Keating government, the architects would never have calculated the effects it would have in the market when you have a present cash rate of 2.25% and going lower. Only when the Liberal and Labor parties agree that they will support a bipartisan inquiry into negative gearing will we see a (probable) slowing down of the Australian property investor tsunami.
"Having said that, negative gearing is now 30 years old, where only in the last five years has it reached maturity. The fact that after each financial year we have now seen a new Australian record deduction clearly shows how well the system is being manipulated by investors.
"The consensus is not calling for its abolition – rather an intelligent discussion on what is a fair and reasonable outcome that best suits our property industry today. Given we have a record low cash rate that looks to go even lower, we could then see the cash rate at or around this level for well over a decade to come – maybe even longer, if Australian Treasury bonds are any indication.
"Instead of burying the negative gearing debate in that too-hard basket, the time has now arrived for it to be debated warts and all. It would be a fascinating debate.”
The reality of the matter is that Australia is not in one of the worst ever housing bubbles we have ever seen, rather household’s cherry-picking investment properties over trading up simply because we have a record low cash rate and with negative gearing a gold plated tax deduction which won’t be available for much longer if rumor and speculation prove to be correct.
Sydney is also on track to become the first Australian city with a population to hit 5,000,000 with demand consistently outperforming supply.
I’m of the opinion that too many commentators have completely missed the ‘big’ housing picture and are way off the mark with their persistent household debt criticism lecturing.
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robertsimeon-hRNTwJyXkQ

The looming demise of negative gearing has triggered a tsunami of investor activity: Robert Simeon

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Not surprisingly the number of Australian residential property sale listings rose during March in most capital cities, though Canberra and Melbourne recorded an unseasonal fall in listings, according to SQM Research.
The number of unsold properties reached 358,167 in March 2015, rising 1.8% from February 2015, with the number of listings up 1.6% from a year earlier.
Normal seasonality plus the ongoing housing downturn in Perth and Darwin were the main reasons for the rise, <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s Louis Christopher noted.
"Critically though, Melbourne recorded abnormal decreases, with listings falling by 1.4% to 38,027 properties for sale," wrote Christopher.
"Melbourne listings are now down 14.7%, year-on-year, the biggest fall of any capital city.
"We are now recording a clear downtrend in properties for sale in Melbourne, which suggests the market is picking up and there are now more buyers than sellers.
"Previously, Melbourne was very much a mixed market.
"But this suggests the recovery is becoming more uniform across the city.
"Canberra recorded a 2.6% decline to 3,401 listings."
<a href="https://sqmresearch.com.au/March2015SOMTable.png" target="_blank"><img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/d9541201-adf1-4356-a73d-c3429c3e3eca.png" width="390" height="121" align="none"></a>
Source: SQM Research SQM noted Sydney jumped back from the normal lull in February, although year-on-year listings are down by 8.8%.
The total number of listings in Sydney is now 22,123 residential properties on the market.
"Critically, asking prices in Sydney rose again by 2.7% for houses and 1.7% for the month for units," Christopher advised.
"The median asking price for a house in Sydney is now $1,066,000."
He noted the commodities downturn had continued to suppress demand for both rental and owner occupier property in Perth and Darwin.
"Each month, we usually find that stock on market is accumulating, reflecting weak property demand in those two markets," he said.
"This softness is expected to be ongoing given that the commodities downturn is only getting deeper, as we can see with the falling iron ore price.
"Median asking house prices in Darwin continue to fall with a year-on-year comparison showing a 12 month decline of 5.1%.
"Perth also recorded house asking price declines in the month of 2.8%." <a href="https://sqmresearch.com.au/weekly%20asking%20prices.png" target="_blank"><img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/660b2bf3-a412-41d5-ae38-28791b504840.png" width="390" height="443" align="none"></a>
Source: SQM Research
Darwin has again posted the largest monthly percentage gain in stock levels, rising by 7.3% during March 2015 to 1,964.
Darwin has also recorded the highest increase in stock levels of all the capital cities over the year, increasing by a staggering 42.6% from March 2014.
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Melbourne listings decline unseasonably in March: SQM Research

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Regional population growth data was recently released by the Australian Bureau of Statistics (ABS) for the year to June 2014.
By combining this data over time with dwelling approvals over time we can derive localised information to approximate the extent of oversupply and undersupply in the capital city housing markets.
The combined capital cities recorded an increase in population over the 12 months to June 2014 of 288,994 persons, down from an increase of 308,206 persons the previous year. While the population increased by 288,994 persons, there were a record-high 145,268 dwelling approvals over the year. The population increase was -6.2% lower over the year while the number of dwelling approvals was 25.6% higher. Based purely on a ratio of population growth to dwelling approvals there was one dwelling approved for construction for every 1.99 residents added to the capital cities. This represents a significant improvement on the ratio of one dwelling approval for every 2.66 new residents over the previous year.
The 2011 Census reported that across the nation, households had an average of 2.6 persons. Based on this figure, we have approved significantly more homes than required based on population growth over the past year. Unfortunately, measuring housing demand is not quite so simple. We must also consider how much of the new demand is from overseas migration compared to natural increase as well as factors such as demolitions and holiday home demand.
I haven’t found any literature on housing demand from overseas migration compared to natural increase however; I think it is a reasonable assumption that overseas migration creates a more immediate addition to housing demand than natural increase. There has been a noticeable slump in net overseas migration to Australia over the past year. Although it is a little bit old now, the former Deputy Governor of the Reserve Bank (RBA) gave a speech entitled ‘Housing and the Economy’ to the National Housing Conference in November 2009. Two of the most interesting and relevant points to housing demand from the speech were:
<ul>
<li>A higher proportion of the new dwellings built are simply replacing existing homes that have been demolished. The RBA estimated that between 2001 and 2006, around 15% of new dwellings built replaced those that had been demolished; 10 to 15 years earlier that figure was less than 10%. </li>
<li>A significant proportion of dwelling investment appears to have gone into holiday homes or second homes. Census data (2006 Census) shows that the number of dwellings built has exceeded the increase in the number of households by a large margin. As a result, the ratio of the number of dwellings to the number of households has been rising over time; as at 2006, there were 8% more dwellings in Australia than there were households. Presumably, most of this surplus reflects holiday homes and second homes.</li>
</ul>
Based on these two points from the former Deputy Governor’s speech, in order to cater to dwelling replacements and secondary homes we should construct 23% more dwelling than the previous simplistic analysis of measuring the rate of population growth compared to approvals. There are a few points and assumptions to keep in mind here:
<ol>
<li>This analysis is based on approvals not completions and approvals won’t necessarily become a completion; based on our calculations completion rates are historically 98% for houses and 85% for units. </li>
<li>The heightened level of inner-city unit development in most instances would see fewer homes demolished to make way for this new construction. </li>
<li>Holiday and second homes ae generally more likely to be located outside of the capital city than within. </li>
<li>Anecdotally activity from foreign buyers is increasing, a proportion of these homes sit unoccupied and don’t even enter into the rental market. So while the supply of housing has increased if the property sits vacant it is more reflective of secondary homes.</li>
</ol>
Given these qualifications, the point about holiday and second homes is likely to be less relevant here, but in the absence of more up-to-date data we will still allow for the 15% of homes which have been demolished when looking at the approvals data.
The 2011 Census reported that on average, Sydney, Brisbane and Darwin had 2.7 persons per household, Melbourne, Perth and the ACT had 2.6 persons per household and Adelaide and Hobart had 2.4 persons per household. Returning to the original findings, over the year to June 2014 the capital city population increased by 288,994 persons and 145,268 dwellings were approved for construction.
If we adjust these figures based on the average household sizes as at the 2011 Census, based on population growth the capital cities required 109,825 new homes. If we further adjust for the assumption that the country needs to approve 15% more homes to replace demolitions, the capital cities required 126,298 new homes last year. Given this, 18,970 more homes were approved for construction than were required over the year compared to a deficiency of 19,076 homes the previous year.
<img class="aligncenter size-full wp-image-4473" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-11.jpg" alt="Chart 1" width="500" height="181">
The above chart shows that new dwelling approvals were typically sufficient for the rate of population growth throughout the 1990s however, since the beginning of the 2000s population growth has boomed while new approvals have largely been unresponsive. Dwelling approvals are now climbing on the back of rising home values and increasing demand for homes. Keep in mind, the heightened level of dwelling construction will have to persist for a number of years to make up for the cumulative effect of the insufficient supply response over the past decade or so.
Over the past year, each capital city had more homes approved for construction than was required based on population growth. While dwelling construction is a positive outcome for the economy, it is important to note that an approval doesn’t necessarily translate into a completion. Furthermore, there is a time lag between approval and completion; these homes are required right now, not in a year or twos time (or longer in some unit developments).
The following charts track the annual population growth and annual number of swelling approvals across each of the capital cities.
<img class="aligncenter size-full wp-image-4474" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-21.jpg" alt="Chart 2" width="500" height="180">
<img class="aligncenter size-full wp-image-4475" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-31.jpg" alt="Chart 3" width="500" height="179">
<img class="aligncenter size-full wp-image-4476" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-41.jpg" alt="Chart 4" width="500" height="178">
<img class="aligncenter size-full wp-image-4477" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-51.jpg" alt="Chart 5" width="500" height="179">
<img class="aligncenter size-full wp-image-4478" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-61.jpg" alt="Chart 6" width="500" height="179">
<img class="aligncenter size-full wp-image-4479" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-7.jpg" alt="Chart 7" width="500" height="180">
<img class="aligncenter size-full wp-image-4480" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-8.jpg" alt="Chart 8" width="500" height="181">
<img class="aligncenter size-full wp-image-4481" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-9.jpg" alt="Chart 9" width="500" height="179">
The above charts show that the disconnect between new dwelling approvals and population growth since the beginning of the 2000s has been largest across the four most populous capital cities. These four cities are also home to a majority of the national population and have also been recording the greatest increase in residents over that period.
A further important consideration for housing supply and demand is the type of new product that is being built. While the city-wide analysis can be useful it should be remembered that new housing is typically either new detached houses on the outskirts of the city or medium to high density product within the inner city areas. We are seeing over time a shift from greenfield and brownfield detached housing development to inner city infill and higher density development across most capital cities. In fact, over the past year more than half of all capital city dwelling approvals have been for units as opposed to houses.
Article continues on the next page. Please click below.
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The analysis shows that within the four largest capital cities there has been a deficiency of dwellings approved for construction over recent years compared to the rate of population growth.
Over the past 24 months or so there has been a surge in dwelling approvals, at the same time the rate of population growth has slowed. The RBA has spoken many times about looking to extend this period of heightened construction activity for a number of years. Not only would this have a multiplier effect throughout the economy but it would also help to improve the undersupply of housing which currently exists.
<img class="aligncenter size-full wp-image-4482" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-10.jpg" alt="Chart 10" width="500" height="182">
In 1991, 29.9% of all dwelling approvals across the combined capital cities were for units showing an overwhelming majority of approvals were for houses. Over the most recent year, 51.6% of capital city dwelling approvals were units. In 2013 (50.1%) and 2014 (51.6%) it was the first time that there were a greater number of capital city unit approvals than house approvals. The above chart shows that since 2010 when 38.1% of all approvals were for units, there has been a strong trend towards a smaller proportion of house approvals.
<img class="aligncenter size-full wp-image-4483" src="https://blog.corelogic.com.au/wp-content/uploads/2015/04/Chart-111.jpg" alt="Chart 11" width="500" height="180">
Over the past 12 months, each of Sydney, Melbourne, Brisbane, Darwin and Canberra have approved more units than houses. Sydney, Darwin and Canberra have approved a majority of units for more than a decade however, in Melbourne and Brisbane the rising prominence of unit approvals is a relatively new phenomena. Adelaide, Perth and Hobart have each recorded a significantly lower proportion of unit approvals, in fact as a proportion, Perth and Hobart had fewer unit approvals last year than they had 20 years ago.
Data from the 2011 Census showed that across the separate house category, the most prevalent number of bedrooms is three bedrooms (49.6%) and four bedrooms (32.4%). When you combine the Census data for semi-detached and units, the most prominent number of bedrooms in two bedrooms (50.1%) and three bedrooms (28.6%). To look at it another way, 88.8% of detached houses have three bedrooms or more compared to 66.9% of units having two bedrooms or fewer. The point being that more units are being approved (and constructed) however, they typically have fewer bedrooms and are likely to have a smaller average household size than a detached house would. Given this, it is likely that as more units are constructed, we will actually need more housing than we would have if houses had been exclusively built because of the potential smaller household size. The challenge of course is that while the pipeline of approvals is very strong, there are more unit approvals than houses and ultimately these units are less likely to be built than houses.
The other feature we are seeing in the market is the rise and rise (and rise) of the investor segment. In fact the value of loans to investors has been greater than new loans to owner occupiers over each of the past six months and that has never happened before. A lot of the new unit construction taking place is to cater to demand from the investment segment of the market. The important thing to note is that while investment style detached houses are fairly similar to houses for owner occupiers, the same is not necessarily the case for units. The type of unit that someone is willing to live in while they are renting is often quite different to what they would be willing to live in as an owner occupier. This is largely in relation to internal floor area, kitchen size and design and balcony size. With investment purchases surging, a large proportion of the new unit development is targeted at that market while units for owner occupation are not as prevalent.
Of course developers build what product is going to sell. The potential cause for concern is that many of these investors exit the housing market when the returns aren’t as strong as they currently are. What could then happen is a lot of investment stock hits the market at a time of falling demand coupled with a product offering which is not what the market wants.
Despite this potential cause for concern, it is very encouraging to see an improving relationship between housing demand and housing supply. With population growth looking likely to slow further it would be encouraging, particularly from a housing affordability perspective if the heightened level of approvals persisted. More importantly of course will be that we see these approvals ultimately constructed, particularly in our largest capital cities where housing deficiency has been greatest.
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ckusher-ujnxiKuFQs

Booming building approvals and slowing population growth are reducing housing undersupply: Cameron Kusher

&nbsp;

The entire 100th floor of the southern hemisphere's tallest building under construction was bought by an undisclosed businessman based in China.

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The apartment cost more than $33,000 per square metre,&nbsp;spanning the entire top floor of <a href="/buildings/australia-108-southbank-70-southbank-boulevard-southbank">Australia 10</a>8, with its&nbsp;own grand entrance foyer on level 98 as well as a private glass elevator.&nbsp;&nbsp;
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<img alt="" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/01/15/TPA8467_Australia_108_E01_Hero%20Elevated.jpg" />

The 750 square metre penthouse atop the Australia 108 development at 70 Southbank Boulevard, sold at the off the plan asking&nbsp;price. The building&nbsp;is&nbsp;due for completion in 2019.

<img alt="" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/04/08/southbank%20april%208%20one.jpg" />

It equals the reported sale in <a href="/new-apartments/sydney-nsw">Sydney</a>'s Bondi Pacific at an unconfirmed $25 million last November to Andrew Roberts, the former chief executive of Multiplex.

The Bondi Beach off the plan sale was initially reported as $21 million, then advised it was higher, so still subject to conjecture. Its $25 million price reflected&nbsp;$28,000 for the 900 square metre Sydney beachside property.&nbsp;The average sale rate was $40,000 per square metre in Pacific Bondi Beach&nbsp;and $45,000 in the sold-out Barangaroo apartments.

The off the plan Roberts purchase is next door to the penthouse that set the previous record in 2013 at $21 million when the chief information officer of Caledonia Investments, Will Vicars, bought adjoining penthouses for $10.1 million and $10.9 million with plans to amalgamated them into one apartment.

The previous highest apartment sale was in <a href="/new-apartments/east-melbourne-vic-3002">East Melbourne</a> of a $19.3 million sub-penthouse apartment in the prestige Salta project, 150 East overlooking&nbsp;Fitzroy Gardens.

Over 1,000 apartments of the 1,105 on offer at Australia 108 have been sold.

The penthouse deal was reported by Fairfax Media as done between CBRE Residential Projects and Tim Kennan, owner of KM Sales and Marketing, who was representing the project's Singapore-based developer World Class Land.

<a href="/expert-insights/buying/stellar-75-success-rate-in-australia-108-apartment-offerings">CBRE managing director of residential projects Andrew Leoncelli</a> noted&nbsp;three local buyers had shown interest in the penthouse.

Australia 108 penthouse sells at record equalling $25 million asking price

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GUEST OBSERVATION
Ask a parent how far they would go to support the financial aspirations of their children, and chances are they will say: “Yes, if I had the money I would be happy to act as a guarantor for my children to purchase a property.”
Australian capital city house prices <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-02/home-prices-rise-nearly-8pc-in-2014-boosted-by-strong-december/5996972">rose</a> by 7.9% in 2014, while the number of <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/5609.0Main+Features1Jan%202015?OpenDocument" target="_blank">first home buyer commitments</a> as a percentage of total owner occupied housing finance commitments is near record lows - 14.2% in January 2015, compared to 20.4% in December 2012.
Many family-assisted first-home purchases are not being counted in the first home buyer data collected by the Australian Bureau of Statistics, but it’s likely the growing cost of owning a home is encouraging an increasing number of parents to help out via a guarantee, interest-free loan, initial deposit or simply making a monetary gift to their children. This financial support can change an individual’s decision to buy or rent a house or unit. Parental support can also help first home buyers avoid mortgage insurance charges that can easily exceed A$15,000 for a family home in a desirable suburb.
The risk to parents
Consumer advocates <a href="https://www.smh.com.au/money/borrowing/a-guarantors-key-decisions-20100524-w6om#ixzz3OfBpjcaI" target="_blank">cite “lots of cases"</a> where guarantors have been faced with the prospect of losing their home.
Since 2004 Australian banks have offered specific “family pledge” or “family guarantee” loans, allowing parents to provide both equity support and income support. These products are driving growth in the sector, adding to the risk for parents.
In the current economic climate with rising unemployment and costs of living, parents need to understand the risks of acting as guarantor, and all the legal responsibilities that come with it. The guarantor has a legal responsibility to repay the loan (along with any fees, charges and interest) if the borrower defaults. If the guarantee is tied against assets such as the family home, guarantors may end up losing their home, particularly if the parents’ financial position or health conditions have changed over the years. Often the lenders can sue the guarantor if the loan obligations are not met by the debtor. If parents have concerns, it may be a good idea to contribute towards the deposit so that a guarantee is not required.
It is equally important for parents to be educated with regard to the purpose of the loan, amount of the guarantee, to know in detail if their children have stable incomes, and the kind of loan they are guaranteeing (such as lines of credit or overdraft which have no specific time to maturity).
The risk to the banking sector
Family-pledged loans can be categorised as non-conforming loans, an area where lenders seek to minimise the level of risk as much as possible. The Australian Prudential Regulatory Authority has outlined some <a href="https://www.apra.gov.au/adi/Documents/Draft-PPG-APG223.pdf" target="_blank">guidelines</a> for ADIs with regard to loans including a guarantor relationship (e.g. from a parent of the borrower) to cover shortfalls in minimum deposit requirements. APRA acknowledges these loans carry a high risk and ADIs should carefully assess the guarantor’s income, credit worthiness, enforceability of potential claims and the value of any collateral pledged by the guarantor. APRA also emphasises that as a risk management strategy a prudent ADI should establish portfolio limits within its risk appetite for such lending. Such limits can be stress tested.
Since the 1997 Wallis Inquiry, <a href="https://www.rba.gov.au/publications/submissions/fin-sys-inquiry-201403/pdf/fin-sys-inquiry-201403.pdf" target="_blank">household leverage has almost doubled</a>. This has been accompanied by a significant increase in house prices relative to income over the past decade. Australian home prices are <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-09-14/bis-figures-confirm-australian-housing-overvalued-emerging-mark/5740808">50% higher than usual</a> relative to rents, and around 40% higher than usual when compared to incomes. The Bank of International Settlements has already warned that a price correction may be coming.
The <a href="https://fsi.gov.au" target="_blank">Financial System Inquiry</a> is seeking measures to ease the effects of the housing market on the economy along with ways that these measures can be implemented.
Inadequate bank supervision and poorly underwritten home mortgages led to the financial crisis. Easing credit constraints, delivering innovative products (along with fee generating activities) without considering the associated risks, and a lack of internal and external monitoring and supervision, can increase non-performing loans and threaten the financial system and its stability.
Mamiza Haq is lecturer in finance at The University of Queensland.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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The problems of relying on the bank of mum and dad: Mamiza Haq

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There was 20% annual growth achieved on a recent Sylvania Waters flip.
<a href="https://www.mcgrath.com.au/buy/house-sylvania-waters-nsw-2224/250586/?searchID=48403317" target="_blank">The house</a> sold at auction for $1,441,000 after an update. 
<img src="/images/2015/04/07/sylvania%20waters%20april%207%20two.jpg" alt="">
This was the house in <a href="https://www.mcgrath.com.au/buy/house-sylvania-waters-nsw-2224/221941/?searchID=48403317" target="_blank">April last year</a> sold at $1.2 million.
The place had been spruced up during the unintended quick flip.
Bidding on 9 Roper Crescent opened at $1.1 million.
<img src="/images/2015/04/07/sylvania%20waters%20april%207%20three.jpg" alt="">
It was signalled as on the market at $1,436 million.
There were four bidders, but just two for the last $200,000 or so.
<img src="/images/2015/04/07/sylvania%20waters%20april%207%20four.jpg" alt="">
David Greig at McGrath Sylvania Waters told Property Observer that there were six registered parties on the four bedroom, two bathroom house.
There was $1.2 million plus price guidance on the part two storey house with rear oasis-like swimming pool with Travertine and palm surrounds.
Sylvania Waters is the suburb where the governor of the Reserve Bank Glenn Stevens resides.
The governor, too, owns a non-waterfront property; it's a two-storey house on 657 square metres which was bought in 1993 for $312,500.
Given price growth and renovations over the past 16 years, he could also recoup over $1 million.
"My house is not a fibro house, but it is a piece of spec rubbish built in the 1970s, and in many respects it shows that," Stevens told a 2007 House of Representatives hearing.
Back in the 1950s, Gwawley Bay oyster farmers sold out to the developer Jim Goyen, who constructed the suburb on land reclaimed from the Georges River.
After installing an eight-kilometre concrete retaining wall, more than 2 million cubic metres of shell-strewn sand was dredged during the 1 million pound infrastructure scheme.
The local council approved the development, with privately owned waterways, after sending the shire engineer to Florida Keys in the US to see how it could be done.
Property Observer noted there are diminishing numbers of original buyers remaining in the 50 year old houses, but some turned up to the recent auction.
The suburb's record was set at $4.6 million in 2004. The six bedroom, six bathroom house in the governor's street is on an unusually large 1,290 square-metre block on the open waters. 
There was one residence aiming for a waterfront record with $4.8 million expectations. The two-storey James Cook Island residence featured as Lois Lane's home in the 2006 movie Superman Returns. But it sold at $3.55 million in 2013, after four years on the market, unable to withstand the kriptonite effect of the global financial crisis.
It is among the last seven sales above $3 million that have all gone to buyers of Chinese descent since 2010.
Loss-taking was the norm on the waterfront after the global financial crisis. Four 2009 sales reflected losses between 6% and 25% on their purchase price. 
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Sylvania Waters flip yields 20% price growth under the RBA Gov's near watch

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Ena, the finest steam yacht in Australia, has been listed for sale. It is marketed as one of only three remaining in the world. 
It was built in 1901 by Watty Ford for Sir Thomas Dibbs, commodore of the Royal Sydney Yacht Squadron. Its name is taken from Dibbs’ wife Tryphena.
It was designed by Walter Reeks.
Reeks also designed his own house Twynham in Mosman in the late 1880s, and died there aged 64 in 1925.
Shortly after its launch, it undertook war service as HMAS Sleuthin in World War I in the Torres Strait. 
Ena had sank in the waters near Hobart in 1981 after hitting a submerged object. She was then salvaged and bought back to Sydney where it is believed $4 million was spent on her purchase and re-fitting. 
After its mid-1980s restoration to her former Edwardian glory, notoriety followed the ship during its ownership by miner Pat Burke and his former chums Rene Rivkin and David Baffsky. 
The yacht was moored in Sydney for 25 years but it now calls Melbourne home with owner Warwick Turner saying “steam is something that just gets in your blood”.
The steam yacht Ena once circumnavigated Australia, spending some time in Perth for the America's Cup.
The yacht incorporates timbers from HMS Nelson, launched in Britain in 1814.
Its designer, Walter Reeks was responsible for other icons of Sydney Harbour including the steam yacht, Boomerang.
The 29 metre steam yacht has been listed by <a href="https://www.mossgreen.com.au/content/ena-australias-finest-steam-yacht/" target="_blank">Paul Sumner at Mossgreen</a>. 
It was listed as an item of movable cultural heritage, which would require an export licence. The auction will take place at Mossgreen on 19 May.
"We are keen to find a buyer in Australia anyway," says Paul Sumner who is quoting $1.2 million plus.
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Ena, the Edwardian steamship, listed for auction

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The Easter weekend's priciest auction offering, Lido at Portsea (pictured above), didn't sell at 148 Back Beach Road.
Kay &amp; Burton had Lido, a classic two storey holiday home with plenty of accommodation, decking, swimming pool and private gardens on 1,500 square metres with views over <a href="https://www.realestateview.com.au/Real-Estate/148-150-back-beach-road-portsea/Property-Details-buy-residential-8445140" target="_blank">Port Phillip Bay and the Southern Peninsula coastline</a>. But it did not sell.
But plenty of low-key sales were achieved, especially at Victoria's coastal locations, and most came with undisclosed auction and private treaty prices.
Disclosed auction sales on Saturday and Sunday peaked with a cottage sale of $395,000 at St Andrews Beach. It last sold in 2007 at $270,000.
The <a href="https://www.realestateview.com.au/Real-Estate/31-tiberius-road-st-andrews-beach/Property-Details-buy-residential-8433254" target="_blank">31 Tiberus Street, St Andrews Beach</a> was a permanent rental at $230 a week. It was listed with $295,000 plus price guidance through hockingstuart.
Land sales ranged up to a $265,000 block of land at San Remo.
There were no bids when 8 River Reserve Road, Aireys Inlet was put to auction, having been listed with $950,000 plus hopes.
<a href="/expert-insights/buying/fairhaven-clifftop-house-sells-for-3-million-before-easter-auction">A Fairhaven holiday house has sold for $3 million</a> before its scheduled Easter Sunday auction.
The double storey home at Lialeeta Road was listed with $2.75 million to $3 million price expectations by Marty Maher and Mim Atkinson of Great Ocean Properties Aireys Inlet.
Kay &amp; Burton secured <a href="https://www.realestateview.com.au/Real-Estate/4-benjamin-parade-blairgowrie/Property-Details-sold-residential-8444826" target="_blank">a Blairgowrie sale</a> at an undisclosed price. It last sold in 2007 at $1.23 million.
A Talbot Street, Barwon Heads house sold at an undisclosed price as did 41 The Esplanade, Portarlington, which had been a private treaty offering with $849,000 hopes.
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Low key coastal Victorian Easter auction results

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Caydon has acquired the former local market Moonee Ponds site with plans to create a $650 million apartment, retail and office project.
News Ltd reports the price was around $45 million.
It was sold by the joint owners Leighton Properties and Qualitas, who had paid $23 million last year.
Located at 40 Hall Street and 34-36 Margaret Street, the Moonee Ponds site has a concept plan for a multi-staged development comprising about 1,200 apartments.
Leighton Properties and Qualitas acquired the 1.34 hectare site from Reading International in October 2013. 
The US-based Reading Cinema chain sat on what was a car park for 15 years ago having bought it with the hope of building a landmark entertainment complex. 
The land was permitted in 1997 to become a 12-screen cinema complex which rival Hoyts went to VCAT to prevent being built.
In 2012 after not receiving any formal building application, the Moonee Valley Council demanded Reading sell the site as the suburb ranks in the state government's Melbourne 2030 planning policy as an activity centre.
Caydon has other major inner city projects planned including Flemington.
There was its late 2014 acquisition of <a href="/expert-insights/buying/leaps-and-bounds-as-caydon-buys-the-richmond-malt-complete-with-nylex-clock">the Richmond Malt site </a>on the fringe of the Melbourne CBD.
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