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

<html><body>
Any Sydney property correction will be one of stagnation not a short sharp drop, the Melbourne buyer's agent Richard Wakelin has forecast.
Describing the run-up in Sydney prices as "rational", the director of Wakelin Property Advisory suggests it was "reasonable to assume they will stop pushing up prices once a point is reached where valuations can't be justified based on rental returns or mortgage servicing costs".
"Yes, we might see an overshoot and a correction, but the correction will probably be characterised by a period of stagnant prices for several quarters rather than a short sharp drop in prices," he told the Australian Financial Review noting Sydney property prices rose 29% over the two years to December 2014.
The growth in Melbourne was 14% while most other capitals saw price growth in single figures.
He notes much of the strong price growth in Sydney had been "catch-up" with prices in Sydney only up 57% since September 2003, based on ABS data, while Melbourne was up 89%.
"To some extent, we may well be seeing a return to normal circumstances where Sydney property enjoys a 20% premium over its southern counterpart due to higher incomes, a larger population and a greater scarcity of land."
But he warns any RBA policy mistake in relation to Sydney property carried greater consequences than elsewhere noting, with the media concentrated in Sydney, any downturn could be amplified in a manner that could damage confidence nationwide.
{mijopolls 93}
</body></html>

jchancellor-FAypfDUnLy

Sydney's property correction will see stagnation, not short sharp drop: Richard Wakelin

<html><body>
A mix of local owner occupiers and investors have purchased 70% of the 136 apartments in Doncaster's Gardenhill development, within three months of its launch.
The development is a joint venture between Melbourne's Beulah International and Malaysia's Fajarbaru Builder Group. Woods Bagot designed the project, with a curved façade and sliding panels on both the exterior and in the apartments' interiors.
<img src="/images/2015/02/24/doncaster%20two_0000_1.jpg.jpg" alt="">
The internal movable panels allow residents to rearrange the layout of their apartment.
The rooftop garden has been designed by Jack Merlo and includes a teppanyaki BBQ, an edible garden, deck and grassed entertainment area.
<img src="/images/2015/02/24/doncaster%20two_0002_3.jpg.jpg" alt="">
Prices for one bedroom apartments in <a href="https://www.gardenhill.com.au" target="_blank">Gardenhill</a> (pictured above) begin at $390,000. Both one and two bedroom apartments are available.
Fajarbaru-Beulah International (Melbourne) executive director Jiaheng Chan says the flexible interiors have attracted buyers, which include both downsizers and investors.
"We've found the project's flexible interior spaces and moveable sliding panels along with the impeccable architectural design and stunning uninterrupted views to be some of the biggest draw cards for the project so far," said Jiaheng.
The development, currently under construction, is one of a number currently being marketed to buyers in <a href="/news">Doncaster</a>.
The nearby <a href="https://imperialdoncaster.com/" target="_blank">Imperial Doncaster</a> (pictured below) is offering a Chinese New Year special, with developer AFX covering stamp duty costs for buyers until 28 February. The medium-rise, 10 storey development has 93 apartments.
<img src="/images/2015/02/24/doncaster_0000_1.jpg.jpg" alt="">
Designed by Buchan Group Architects, the apartments are priced from $547,000 for a two bedroom apartment, but some apartments exceed $2 million. There are currently 12 apartments available.
The AXF Group, which began developing property in 2005, ranked among the busiest developers in Melbourne's outer eastern suburbs, <a href="/news/vic/chinese-developer-asx-property-selling-imperial-the-crown-of-doncaster">Property Observer reported in 2013</a>.
<img src="/images/2015/02/24/doncaster_0005_6.jpg.jpg" alt="">
In 2011, the group completed another Doncaster project, The Berkeley, a 116-apartment block. 
</body></html>

jrichardson-uRX5hFdKfN

Doncaster's latest Gardenhill 70% sold as Imperial reaches tail end

<html><body>
A $3.35 million Vaucluse home was the most expensive sold last week, exceeding the sale of $3,225,000 Mosman house.
The house at <a href="https://www.domain.com.au/property/sold/house/nsw/vaucluse/?adid=2011702484" target="_blank">9 The Crescent in Vaucluse</a> (pictured above) had remained in the same family for 53 years. It has four bedrooms, two bathrooms and a powder room, with separate living and dining rooms.
The home also includes two sunrooms, with timber flooring and decorative ceilings. The house, sold through Richardson &amp; Wrench Double Bay, is located just across the road from waterfront parklands.
A renovated Federation home at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-mosman-nsw-2088/225370" target="_blank">131 Middle Head Road, Mosman</a> was the second highest sale of the week. Sold through McGrath Estate Agents, the c1910 home with a rear north orientation has four bedrooms and rear access.
The top 10 sales of the week ending 22 February
<ol>
<li>9 The Crescent, Vaucluse, NSW, 2030, four-bedroom house, sold on February 17 by Richardson &amp; Wrench Double Bay for $3.35 million </li>
<li>131 Middle Head Road, Mosman, NSW, 2088, four-bedroom house, sold at auction on February 18 by McGrath Estate Agents for $3.225 million </li>
<li>6 Alton Avenue, Concord, NSW, 2137, five-bedroom house, sold at auction on February 17 by McGrath Estate Agents for $2.99 million </li>
<li>63 Wharf Road, Gladesville, NSW, 2111, five-bedroom house, sold on February 17 by McGrath Estate Agents for $2.9 million </li>
<li>4A Bellevue Garden, Bellevue Hill, NSW, 2023, three-bedroom house, sold prior to auction on February 18 by Phillips Pantzer Donnelley for $2.79 million </li>
<li>5 Linkmead Avenue, Clontarf, NSW, 2093, five-bedroom house, sold at auction on February 21 by Clarke &amp; Humel Property Manly for $2.715 million </li>
<li>37 Windsor Street, Paddington, NSW, 2021, three-bedroom house, sold prior to auction on February 21 by BresicWhitney Estate Agents Darlinghurst for $2.7 million </li>
<li>369 Esplanade, Mount Martha, VIC, 3934, five-bedroom house, sold on February 17 by Harcourts Mornington for $2.65 million </li>
<li>44 Nelson Road, Lindfield, NSW, 2070, four-bedroom house, sold at auction on February 21 by L J Hooker Concord for $2.643 million </li>
<li>36 Bourne Road, Glen Iris, VIC, 3146, four-bedroom house, sold at auction on February 21 by Marshall White Real Estate for $2.54 million</li>
</ol>
Source: CoreLogic RP Data 
</body></html>

After 53 years of ownership, Vaucluse home pips Mosman: CoreLogic Top 10 sales

<html><body>
GUEST OBSERVATION
According to preliminary auction results, there were a reported 852 residential properties auctioned in Melbourne at the weekend, 76% or 494 of these selling.
Total auction volumes included 520 houses and 316 apartments, with clearance rates of 81% and 71% respectively. The balance of auctions consisted of vacant land sales.
The highly anticipated unofficial opening of Melbourne’s real estate auction calendar occurred at the weekend, and, as predicted by WBP’s property advisers, with as much ferocity as it closed in December last year.
The keen interest observed at open for inspections and the market’s handful of auctions in January and early February converted to participation at the weekend, with a multitude of bidders driving strong outcomes for many properties across Melbourne. And, the results are telling.
A clearance rate of 76% signifies over three quarters of vendors received an offer to purchase their property either equal to or exceeding their expectations. This demonstrates high confidence levels among both buyers and sellers – a factor that will continue to drive market performance until the Easter period, in the least, particularly following the RBA’s surprise cut to already record low interest rates earlier this month.
It’s interesting to note the consistency of performance across Melbourne’s metropolitan market. All residential markets, ranging from the city’s outer east to the west are clearing at rates higher than this same time last year. But still, Melbourne’s litmus suburbs experienced mixed results – Richmond showed a strong clearance rate, commanding strong prices for quality properties, while Reservoir cleared at lower rates with just half of auctioned properties transacting.
Other standout performer was St Kilda, due partly to a proportion of properties selling prior to auction. It’s not unusual for many properties to transact prior to auction in January and February amid concerns the market may not meet vendor price expectations prior to buyer interest peaking. This trend is likely to dissipate over coming weeks as markets heat up and vendors feel more at ease.
The Melbourne market has opened strongly overall, however, micro level analysis continues to demonstrate not all properties perform the same. Don’t rely heavily of macro property statistics when selecting a home or investment property. Instead, investigate the individual asset’s long-term performance as a gauge of future expectations.
Greville Pabst is CEO of <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY" target="_blank" rel="nofollow">WBP Property Group.</a>
</body></html>

gpabst-nAfzC8fgsR

Melbourne's auction season swings back into action with ferocity: Greville Pabst

<html><body>
An incredibly strong auction weekend set the scene for a remarkable auction in Sydney’s north at the weekend, when a house in the suburb of North Epping, 19 kilometres from Sydney’s CBD, sold for nearly $200,000 above reserve.
A combination of the <a href="https://www.smartcompany.com.au/growth/economy/45528-what-does-the-rba-interest-rate-cut-mean-for-your-business" target="_blank">interest rate cut</a> and a greater volume of properties on offer saw the national clearance rate hit a high not seen since October 2009, according to RP Data Victorian housing market specialist Robert Larocca.
Twelve registered bidders pushed the price for the five-bedroom home at 9 Narelle Street, North Epping, to $1,616,000 – a whopping $191,000 above the reserve price, <a href="https://news.domain.com.au/domain/real-estate-news/epic-epping-auction-nets-seller-almost-200000-above-reserve-20150221-13l158">according to Domain</a>.  
A local couple made the winning bid after going head-to-head with a Chinese investor, according to the reports, who jumped the price by $1,000 increments over the phone.
Larocca said lower interest rates clearly had a connection to such outstanding results.
“That was the point [of lowering rates], in many respects. The Reserve Bank wanted people to open their wallets, or their bank loans, just a bit more,” says Larocca.
Larocca says if the market continues with such strength, we will likely see more exceptional results.
“But I think what’s more interesting is the overall national clearance. That speaks more about the market than those people who do get hundreds over their reserve,” he says.
The national clearance rate reached 77.7%, according to RP Data preliminary data, and Larocca says even if that is adjusted down, the result points to a very strong weekend.
“It was a remarkable outcome really,” says Larocca.
Sydney was again the country’s star performer, scoring an 87.8% clearance off 839 auctions.
It’s the third week in a row the Sydney market has delivered a result above 80%, but Larocca says this is not against the trend at this time last year.
Melbourne did not disappoint despite the higher volumes, logging a clearance rate of 74.9% off 1,049 homes sold under the hammer.
Even Brisbane delivered a stellar result of 68.9% off 113 auctions.
Larocca says the coming weekend will be “interesting” to watch, as the weekend before a long weekend brings even more properties on the market.
“It will be interesting now the momentum has built significantly. Seeing as it was admittedly a slow start to the year,” he says.
“Buyers are clearly back out,” Larocca adds.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

krobb-aCrRNnPq6D

North Sydney home sells for nearly $200,000 above reserve as interest rates push auctions to “remarkable” high

<html><body>
A preliminary weighted average clearance rate of 77.7% was recorded this week across capital cities compared to 74% last week and 76.2% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Capital-City.jpg" rel="wp-prettyPhoto[g4298]"><img class="aligncenter size-large wp-image-4299" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Capital-City-580x437.jpg" alt="National auctions - Capital City" width="580" height="437"></a>
At this stage this is the highest clearance rate recorded on a national level since September 2009.
Last week’s momentum has been carried into this week with solid demand evident in Sydney, Melbourne and Canberra. The interest rate cut is clearly having a beneficial impact.
In Sydney a preliminary clearance rate of 87.8% was recorded and this is higher than any other week in the past year. This is compared to 83.3% last week and 84.2% last year. This result is the sign of a strong market but not against the trend at this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Sydney.jpg" rel="wp-prettyPhoto[g4298]"><img class="aligncenter size-large wp-image-4300" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Sydney-580x397.jpg" alt="National auctions - Sydney" width="580" height="397"></a>
In Melbourne preliminary clearance rate was 74.9%, compared to 70.9% last week and 73.5% this time last year. The Melbourne auction market has lifted by around 15 points in the past two weeks.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Melbourne.jpg" rel="wp-prettyPhoto[g4298]"><img class="aligncenter size-large wp-image-4301" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Melbourne-580x394.jpg" alt="National auctions - Melbourne" width="580" height="394"></a>
In Brisbane a preliminary clearance rate of 68.9% was recorded compared to 49.5% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Brisbane.jpg" rel="wp-prettyPhoto[g4298]"><img class="aligncenter size-large wp-image-4302" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Brisbane-580x373.jpg" alt="National auctions - Brisbane" width="580" height="373"></a>
In Adelaide a preliminary clearance rate of 55.2% compared to 69% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Adelaide.jpg" rel="wp-prettyPhoto[g4298]"><img class="aligncenter size-large wp-image-4303" src="https://blog.corelogic.com.au/wp-content/uploads/2015/02/20150223-Adelaide-580x392.jpg" alt="National auctions - Adelaide" width="580" height="392"></a>
In Canberra a clearance rate of 72.9% was recorded compared to 72.3% last week. This is the third week with a clearance rate in excess of 70% and means the Canberra auction market has had a stronger start than last year.
In Perth a clearance rate of 53.8% was recorded.
</body></html>

rlarocca-zWhvjay44N

Interest rate cut is clearly having a beneficial impact to auction market: Robert Larocca

<html><body>
An Australian online platform where buyers can bid on residential properties has sold its first house.
<a href="https://www.bresicwhitney.com.au/buy/77a-ryan-street-lilyfield-10366" target="_blank">It was a three bedroom Lilyfield listing</a> with $1.3 million plus hopes offered via <a href="https://exchangehouse.com.au/auction_details.php?name=&amp;auction_id=100579&amp;sesuburb=lilyfield" target="_blank">Exchangehouse.com.au</a>.
The three bedroom terrace in Lilyfield secured 22 bids over a three day period from three bidders.
The winning bidder secured the property for $1,618,000 - well above the reserve price. It last sold in 2005 at $790,000.
Click to open in new window: 
<a href="https://www.propertyobserver.com.au/images/2015/02/23/bids-feb-23-one.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2015/02/23/bids-feb-23-one.jpg" alt=""></a>
Source: Exhangehouse.com.au
Given five registrations, the auction timetable was brought forward. The last bid was placed at 12.30am on Thursday morning and with 24 hours given the hammer came down at 12.30am on Friday as the reserve was exceeded.
Jonathan Elepano, a director at exchangehouse.com.au, was the vendor of 77a Ryan Street.
“We have been working on the technology behind the website for many years," Elepano said.
"I was pleased to use my property on our platform to see the results in real time with live bidders.  
"22 bids over a three day period was a phenomenal result and exceeded everyone’s expectations."
BresicWhitney pioneered the online auction in the onsite inner Sydney residential heartland.
Exchangehouse, an online platform for owners to list their properties via their agent, has been developed over the last three years by Mark Jamieson, a property executive with over 15 years industry experience, and Jonathan Elepano, an IT expert with over 20 years experience in the technology sector.
</body></html>

Success for Lilyfield online auction vendor

<html><body>
Over the past 15 years or so there have been many articles about an apparent "property bubble" in Australia. Some have made very valid points, others have been pure Mary Poppins stuff.
There has been further debate this week about the role of credit in asset price inflation which cited declining populations (within towns which clearly aren't actually declining) and that most tenuous of housing market measurements, the "growth" in median prices at the suburb level.
If you were to take a moment to access a subscription sales database and track any actual property resales it would immediately become evident that typically "price growth" in small towns is merely a shift in the sales mix derived from a tiny handful of transactions.
That said, I do tend to agree that many of Australia's smaller regional cities and towns have property markets which are built upon flimsy foundations, as we will likely discover in the next couple of years as the mining construction boom turns into a <a href="https://petewargent.blogspot.com.au/2015/01/capex-bustlook-out-below" target="_blank">capex bust</a>.
All land is not create equal
Nonetheless the behaviour of housing markets in small towns tells us nothing useful about likely trends in large and growing capital cities.
As I looked at in more detail <a href="https://petewargent.blogspot.com.au/2013/11/planning-land-prices-and-house-prices" target="_blank">here</a>, previously the notion that land prices were going to deflate in Sydney was always flawed, since the incumbent system allows landbankers to drip-feed land onto the market at such a leisurely pace.
Further, where the ratio of new stock to existing stock is low, the impact of new stock on the price of existing dwelling prices is diminished.
For all that, despite what is often implied by commentary, dwelling prices have not simply kept rising inexorably in Australia.
In Sydney, for example, dwelling prices declined in 2004, 2005, 2008 and from the middle of 2010 to the middle of 2012 - three distinct downturn periods in the past decade.
But with Greater Sydney's population expected by the latest projections to explode from around 4.6 million today to approximately 8 to 9 million by around 2060, it has always seemed very likely that land values were heading higher over time.
Residential land values have risen over time
Enough theoretical discourse and back into the real world. While the total value of commercial land and rural land is not increasing at a fast rate, the aggregate value of residential land in Australia is easily set to surge to past $3.5 trillion in 2015, probably to around $4 trillion by the end of the calendar year.
<img src="https://3.bp.blogspot.com/-rUpZJhx-WTU/VOgfuRX8bRI/AAAAAAAATQA/lIui6-gxW78/s1600/Land1.jpg"> 
Over the six financial years to June 2014 aggregate residential land values increased by 37% in New South Wales, by 46% in Victoria, by 21% in Queensland, by 33% in South Australia and by 11% in Western Australia, having previously already boomed in Perth. 
<img src="https://4.bp.blogspot.com/-XYmxTZTbM5k/VOhKvtifmVI/AAAAAAAATQg/n7GtdgeFB8I/s1600/Land2.jpg"> 
All land is not created equal Of course, as the population continues to expand <a href="https://petewargent.blogspot.com.au/2015/02/australia-23750000" target="_blank">past 23.750,000 as it did last week</a>, as new land supply is released and developed to house the expanding headcount, and as inflation pushes the price of goods up - we do expect to see land values rising in aggregate. However, all land is not created equal. Some property advisors recommend investing in properties on remote regional land where demand is relatively low, and - more importantly - there are swathes of land available for release. With the land price component of outer suburban and regional property so low, the potential for capital growth over time can be constrained.
Be careful about investing in outer suburban or fringe city areas where land is not a scarce commodity.  A $200,000 outer suburban house may comprise only $50,000 of land value, so even in the unlikely event that outer suburb land values boom by 50%, the total value of the investment only increases by $25,000.
Why is this the case? Because outer suburban housing is readily substitutable with more fringe housing.
For obvious reasons, I believe that inner ring suburbs of capital cities will outperform over time. As I looked at <a href="https://petewargent.blogspot.com.au/2015/02/capital-city-land-prices-soar" target="_blank">here</a>, capital city land prices soared by 4.7% to a record high over Q3 2014 to be 10% higher over the preceding twelve months. There is in aggregate comparatively very little upwards pressure on regional land prices and thus they only increased marginally, and broadly in line with inflation by 0.7% in Q3 2014.
 <img src="https://1.bp.blogspot.com/--wjLB6aM2A4/VOg7HRfGCeI/AAAAAAAATQQ/ZWnFqETpeNs/s1600/HIA.jpg">
In its own assessment the Housing Industry Association (HIA) cited the role of chronic undersupply no fewer than six times in its one short media release, including in this short excerpt: "There are clearly pressures building in terms of the available residential land supply.  "Acute supply bottlenecks are affecting Australia's residential land market.
"The number of transactions fell while price growth accelerated. Turnover decreased by 16.7% in the quarter while at the same time prices grew by 3.3%.
"These are the classic hallmarks of a market which is fast running into supply problems.
"The process of delivering new land supply and infrastructure is too slow and too expensive. Policymakers have to intervene to ensure Australia's long term housing needs are met."
Sydney land goes ballistic (supply is atrocious) My chart packs tell me to expect that the Greater Sydney population is likely to increase by 80,000 to 90,000 persons across this financial year. Given that this rollicking rate of population growth brings massive demand for the land within a relatively small radius of the city, as recorded over the years I have unerringly expected to see prime location Sydney land values to appreciate over time. Well-located land supply in the present system never stood a snowball's chance of keeping pace. Sydney land prices boom 20% in 2014
In this context it is no surprise therefore to note that it was land values in Sydney that really boomed in 2014 with land prices jumping by an rip-snorting 19.7% to $390,000. This median price has surged well ahead of Melbourne - a city which has released greater land supply over time - at $245,000, and Brisbane at $237,950. This 20% boom in land prices is the fastest annual rate of Sydney land price growth in a decade. In some suburbs such as Kellyville land price inflation is bordering upon out of control, with prices rising 38.2% in 2014 alone, up to $912 per square metre. Median prices in Glenmore Park rose by 30.6%, in Riverstone by 20.2%, and in Pitt Town 26.4%. The median price of land in the south west soared by 25% to $350,000, while prices in Sydney's west, where lot sizes can be larger, rose by 8.3% to $410,500. Extrapolating existing trends Dr. Andrew Wilson of Domain Group expects Sydney's median land prices to increase by another $40,000 in 2015 until "the chronic undersupply of residential development land is effectively addressed".
Land is a factor of production
It was this simple dynamic which led me to own most of my property portfolio in cities such as London *where house prices are now a ridiculous 13 times median earnings) and Sydney - and importantly, never to sell a single property when every year there are myriad predictions of dramatic market corrections - because the long term trend in prime location land values is up. In short, supply does matter. Always.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
</body></html>

pwargent-M4siyDbqQY

Sydney land prices booming (but supply is atrocious): Pete Wargent

<html><body>
Sellers are loosening their grip around the property market, according to research from LJ Hooker.
However, the real estate agency's latest Buyer/Seller Index has shown that the national market remains well and truly in favour of sellers.
While there was a 13% increase in stock on the market over the December quarter, buyers "easily absorbed" the new stock. The the period marked the 10th consecutive quarter deemed a sellers market by LJ Hooker.
LJ Hooker National Research Manager Mathew Tiller said the Reserve Bank's rate cut actions would have a strong influence on the Buyer/Seller Index.
"If the RBA lowers the cash rate again, then that will further stimulate buyer demand, increasing the weighting in favour of sellers,'' said Tiller.
"But a stable period of interest rates will see demand remain consistent, and continue the Index's course toward a balanced position, as new listings rise and lower economic growth impacts demand.''
According to LJ Hooker's head of real estate, Christopher Mourd, the new uptick in listings reflect seller confidence.
"There are two things currently driving property owners to sell: increased market exposure, thanks to the number of people wanting to buy; and acknowledgement that the rate of price growth in many areas has peaked, and is beginning to slow,'' said Mourd.
"Home owners wanting to upgrade to something that better suits their current lifestyle or aspirations want to transact at a time that offers the best conditions for them and, as the Index has shown, that advantage is closing.
"The feedback from our offices is that buyers are still eager and this weekend's auctions will be a good barometer of any influence of the drop in the February cash rate.''
New South Wales, Victoria, Queensland, South Australia and the Northern Territory remain sellers markets, according to the Index. Tasmania, which saw a recent price boost, moved from a <a href="/expert-insights/buying/hobart-shines-in-2015s-strong-start-but-house-price-growth-set-to-slow-corelogic-rp-datas-january-results">buyers market to a balanced markets</a>.
Both Western Australia and the Australian Capital Territory moved to favour buyers.
</body></html>

Property market regaining its balance, but still favours sellers: LJ Hooker

<html><body>
GUEST OBSERVATION
With property prices surging and no sign of a slowdown, investors have flooded the market looking for a piece of the action.
Whether you’re renovating or simply buying to let, there are a few simple rules could save you a lot of cash and heartache on the way to your investment dream.
<ol>
<li>
Don’t overpay Make sure that you pay what the property is worth the land and what’s on it. Use suburb data tools to work out the market price and the outlook for a long-term investment return. What have other houses in the street sold for lately, what is the agent’s opinion of a sale price down the track or post-renovation. Don’t assume you’ll make money, make your estimate based on the property losing 5% of value. 
</li>
<li>
Do a structural check Ask a building inspector or qualified builder to check the property for any water damage, termites, the condition of the roof and guttering and whether there’s any asbestos lurking – that requires specialist and costly removal. A complete survey of the land may also be worthwhile, especially if you’re changing the layout/building on the land. 
</li>
<li>
Renovation rules If you’re planning to renovate, do up a budget of all the costs you’ll incur, including contracted services, materials, council approvals, cost of delays, etc. Lining up all these costs, will it add solid value to the property and cover your purchase costs? Also, renovate in a way that is consistent with the area and appeals to a mid-market buyer rather than overspending on top-end fittings that will be lost on potential buyers. 
</li>
<li>
Beware of Bargains If something is cheap, there’s usually a good reason for it. If it’s located next to a bus depot or huge power lines, it’s going to impact your re-sale value or banks may not lend to you in the first place. But, you also need to look out for the things you can’t see like sewage pipes running underneath the property or how the property is “zoned”. If the property is zoned as anything but residential, you’ll struggle to renovate and could be up for a battle with the local council. 
</li>
<li>
Make sure you’re insured If you’re planning to rent out your investment property, make sure you get landlord insurance. It will protect you from lost rental income in case of needing to do major repairs on the property which forces the tenants to vacate.
</li>
</ol>
Steve Jovcevski is a property investment and home loan negotiator at <a href="https://mozo.com.au/" target="_blank">Mozo.com.au</a>. 
 
</body></html>

Latest Buying Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News