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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Two boxes on Brighton's Dendy beach sold last weekend.
One was newly built by the local council and the other dated back to early last century.
The newly built box <a href="https://www.hockingstuart.com.au/recentlysold/BATHING_BOX_57A_DENDY_STREET_BRIGHTON_VIC_3186" target="_blank">57a</a> (pictured below) fetched $215,000 through hockingstuart after bidding from the neighbours.
<img src="/images/2014/12/16/brighton%20dec%2016%20one.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20two.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20three.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20four.jpg" alt="">
Bathing box <a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2011614004" target="_blank">67</a> (pictured below), which had been in the same family for almost six decades, sold for $190,000 through Hodges.
<img src="/images/2014/12/16/brighton%20dec%2016%20second%20one.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20second%20two.jpg" alt="">
The record for a Dendy bathing box remains $260,000.
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jchancellor-FAypfDUnLy

Old and new bathing boxes at Brighton sell

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The Richmond Malt, home to Melbourne’s historic Nylex clock, is set for a renewal after being purchased by the local developer Caydon for $38 million.
The Deague family's Asian Pacific Group also considered the purchase of the site which could possible hold up to 600 apartments. It is a project that would have significant heritage and environmental issues.
It is likely Richmond’s famous silos will be demolished with the heritage protected 1960s Nylex sign then re-attached to the top of a tall apartment building.
With ambitious plans to re-invent the riverside precinct known as Cremorne, Caydon, owned by Richmond Tigers sponsor Joe Russo, will commence working with the City of Yarra, Heritage Victoria and the community to plan the development expected to be worth $600 million.
Caydon own next door, once occupied by Beaver Plastics, taking their holding to around 1.6 hectares.
There has been a recent acquisitive thrust from Russo who paid $16.5 million for a site on Ascot Vale Road in Flemington earlier this year with around 380 units set to be publicly marketed early 2015. Off market sales at Flemington began in September with over a quarter of the apartments sold. 
In May Caydon paid $4.89 million for a 3,360 square metre car park site in Ivanhoe from Dr Nick Sevdalis who acquired the 3,360 square metre site for $175,000 in the 2004 liquidation of John Sage's Pacific Heights Developments.
Caydon has apartments are under construction at St Kilda Junction, with what will be St Kilda Road’s tallest residential development, STK. It recently completed its Hawthorn project, Atria with 250 apartment sales. 
Colliers International’s Jeremy Gruzewski and Peter Bremner secured the sale of 2-8 Gough Street for Richard Mizgala of Power Investments who bought the property through Colliers International in 2004.
The site has been part of Melbourne’s brewing history since the late 1800s.
The 11,340 square metre site has previously attracted interest from developers when restoration projects were proposed in 2002 and 2004. 
The Nylex Clock featured in Paul Kelly’s late 1980s song 'Leaps and Bounds', with the band filmed performing on top of the tower.
 
{qtube vid:=z9cTVJtsS9c}
 
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Leaps and bounds as Caydon buys The Richmond Malt, complete with Nylex Clock

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Combined capital city dwelling values fell by -0.3% in November 2014 according to the CoreLogic RP Data Home Value Index. 
Over the month, values increased in four cities and fell across the remaining four.  Values were higher over the month in Sydney, Brisbane, Perth and Hobart and were lower elsewhere.  Over the first 12 months of the year, combined capital city home values have increased by 7.0%.  As a result, it looks as if home value growth in 2014 will be lower than the 9.8% increase in 2013.
Over the three months to November 2014, combined capital city home values rose by 0.8%.  The results over this period show that the growth in the market is quite narrow with only Sydney (3.1%), Brisbane (1.7%) and Perth (0.4%) recording value rises.  Elsewhere, values fell over the three months by -1.6% in Melbourne, -0.5% in Adelaide, -2.5% in Hobart, -2.1% in Darwin and -3.3% in Canberra.
The rate of home value growth over the 12 months to November 2014 has continued to slow.  After the annual rate of home value growth across the combined capitals peaked at 11.5% in April it has slowed to a rate of 8.5% in November.  The 8.5% growth over the year to November is the slowest rate of annual growth since November of last year.  Sydney continues to be the key driver of capital growth with home values up 13.2% over the past year.  Melbourne has been the second strongest performer with values up 8.3% and Brisbane home values are 6.0% higher.  Elsewhere, values have risen by 2.8% in Adelaide, 1.4% in both Perth and Darwin, 5.2% in Hobart and 1.7% in Canberra.  The annual rate of home value growth is now lower than the recent peak across all capital cities other than Hobart.
Houses have recorded a superior rate of value growth compared to units across the combined capital cities over the past year.  Over the 12 months to November, capital city house values are 8.9% higher compared to a 5.9% rise in unit values.  Across each capital city annual value growth for houses has been greater than that for units over the last year.
Combined capital city home values are now 10.8% higher than they were at their previous cyclical peak in October 2014.  Between October 2010 and May 2012, combined capital city home values fell by a total of -7.7%.  From their low point in May 2012, combined capital city home values have increased by 19.6% however, the value increases have been narrowly based. The greatest rises in values over the current growth phase have occurred in Sydney (31.2%), Melbourne (17.6%), Darwin (17.5%) and Perth (15.5%).  Growth across the remaining capital cities has been much more moderate with values rising 10.6% in Brisbane, 7.4% in Adelaide, 5.2% in Hobart and 4.8% in Canberra.  As the data shows, Sydney has been the primary driver of value growth followed by Melbourne, Darwin and Perth albeit their growth has been somewhat lower than Sydney’s.
CoreLogic estimates that over the third quarter of 2014 there were 53,962 capital city houses and 24,124 capital city units sold across the country.  The number of home sales over the most recent three months is -2.8% lower than over the same period in 2013.  House sales are actually 1.0% higher than a year ago while unit sales are -10.3% lower.  Importantly with so many off –the-plan sales taking place final numbers upon settlement of these projects may revise higher.  Within the individual capital cities, sales over the last three months were lower than a year ago in Sydney, Perth and Canberra but still higher elsewhere.
Selling conditions are still quite favourable in the market however, stock levels are starting to rise and there are variations across the cities.  Discounting levels across the combined capital cities sat at 5.5% while the average time on market is at an all-time low of 36 days.  Remember that the stronger markets of Sydney and Melbourne are having a much greater impact on these figures.  The number of new properties listed for sale across the combined capital cities is now 0.4% higher than a year ago.  Total listings are -2.4% lower than they were a year ago however, they are currently at their highest level since the middle of December last year.  With stock on market rising it will be very interesting to see what happens to time on market and discounting levels over the next few months.
Value growth on an annual basis remains much stronger than rental growth however, the more recent weaker capital growth conditions have seen the decline in gross rental yields stall.  Over the past 12 months, combined capital city rental rates have increased by just 1.9%.  House rents have increased by 1.8% and unit rents are 2.3% higher.  Although rental growth is slow, rental rates have risen over the year in all capital cities except Perth, Darwin and Canberra.  With a strong pipeline of dwellings both under construction and due for commencement it seems likely that the rate of rental growth will remain soft for the foreseeable future.  Gross rental yields across the combined capital cities sit at 3.7% for houses and 4.5% for units. At the same time a year ago they were recorded at 4.0% and 4.7% however, yields have been on hold for the past four months for both houses and units.
As always, there is likely to be a continued variance in performances from city to city and region to region. Much of the growth over the past two and a half years has occurred in Sydney and Melbourne and this appears to be continuing with the rise in values only moderate outside of these cities.  Note that the annual rate of value growth in both Sydney and Melbourne has been slowing over recent months.  Subsequent purchasers and investors are the main drivers of the market currently spurred by the low mortgage rate environment. 
From an investor’s perspective the best opportunity to enter the Sydney, Melbourne or Perth markets has likely passed, especially considering the strong value growth over the past year is now moderating and rental yields are low.  The RBA has also flagged that they are concerned with the level of investment lending taking place in both Sydney and Melbourne and APRA has recently announced greater surveillance of mortgage lending, specifically investor and higher risk lending by the banks. 
It will be interesting to see whether investors start to turn their attention away from cities such as Sydney and Melbourne and towards higher yielding markets that are earlier in their value growth phase such as Brisbane and potentially Adelaide where value growth is now becoming more evident and the cost of housing is significantly lower than in Sydney and Melbourne. 
Of course, with APRA announcing that banks need to limit their growth in investment lending to around 10% per annum we would expect this will have a significant impact on investor demand for mortgages over the coming year.  As a result of these changes and slowing home value growth, investors may potentially start looking at other asset classes. 
RP Data anticipates that the rate of capital growth, particularly in Sydney and Melbourne will continue to moderate over the coming year. We believe that home values will continue to increase over the coming year however, the rate of growth will continue to slow and markets such as Perth, Darwin and Canberra look susceptible to value falls over the coming year.
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ckusher-ujnxiKuFQs

The best opportunity to enter the Sydney, Melbourne or Perth markets has likely passed: 2015 market outlook

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A preliminary weighted average clearance rate of 65.2% was recorded this week across capital cities compared to 63.7% last week and 65.1% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City.jpg" rel="wp-prettyPhoto[g4123]"><img src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City-580x426.jpg" alt="National Auction Comments | Capital City" width="580" height="426"></a>
The market may have cooled since the start of spring but that won’t prevent the overall clearance rate for 2014 exceeding last year. In 2013 the capital cities clearance rate was 66.2% and with one week to go this year it is 67.9%. With the exception of Melbourne and Perth the clearance rate has risen in each capital city. More people have sold more homes at auction this year.
In Sydney a preliminary clearance rate of 71.2% recorded compared to 66.1% last week and 72.2% last year. The Sydney auction market has delivered very good outcomes for sellers this year with a higher clearance rate and number of sales. The clearance rate for 2014 is likely to be close to 74.4%, higher than 72.7% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4125" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney-580x392.jpg" alt="National Auction Comments | Sydney" width="580" height="392"></a>
In Melbourne a preliminary clearance rate of 65.9% was recorded compared to 66% last week and 64.9% this time last year. The clearance rate for 2014 is likely to be marginally lower, around 68.5%, than 2013 when it was 69.2%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4126" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne-580x390.jpg" alt="National Auction Comments | Melbourne" width="580" height="390"></a>
In Brisbane a preliminary clearance rate of 47.3% was recorded compared to 39.7% last week. The overall clearance rate in Brisbane for 2014 is likely to be 45.8%, higher than 41.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4127" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane-580x390.jpg" alt="National Auction Comments | Brisbane" width="580" height="390"></a>
In Adelaide a preliminary clearance rate of 57.5% compared to 56.6% last week. The overall clearance rate for 2014 is likely to be 61.9%, higher than 56.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4128" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide-580x384.jpg" alt="National Auction Comments | Adelaide" width="580" height="384"></a>
In Canberra a clearance rate of 59.5% was recorded. The overall clearance rate for 2014 is likely to be 55.9%, higher than 52.3% last year.
In Perth a clearance rate of 33.3% was recorded. The overall clearance rate for 2014 is likely to be 41.1%, lower than 46.5% last year.
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rlarocca-zWhvjay44N

Sydney auction market has delivered very good outcomes for sellers this year: National auction wrap

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As the final round of properties for the year go under the hammer this weekend, RP Data figures show more people have sold more homes at auction this year than in 2013.
While the market has cooled in the latter half of 2014, the capital city clearance rate will exceed last year, currently sitting at 68% with one week to go, compared to 66.2% last year. RP Data shows the clearance rate has risen in each capital city, with the exception of Melbourne and Perth.
It was <a href="https://www.smartcompany.com.au/finance/investment/34971-property-market-forecasts-for-2014">forecast the market would show a little bit of sanity</a> this year compared to the strength of 2013 and it certainly has shown more moderate growth, says RP Data housing market specialist Robert Larocca.
“It has certainly been a good year,” says Larocca. “The high volumes are proof the market is going strongly and there has been a shift in sales method towards auctions.”
Larocca says different auction markets have performed differently throughout the country, with the most notable contrast between Australia’s two biggest auction cities.
“Sydney led the pack and produced the best results with an unprecedented rise in auction volumes,” he says.
“In retrospect, I think 2014 will be the year that Sydney caught up with Melbourne.”
Larocca says the raw numbers show Sydney now lists around the same number of auctions as Melbourne, where it used to list closer to half.
“It will be interesting to see in the next couple of years if there is a fundamental shift, or if the market was just strong this year and auctions were trendy,” he says.
Sydney notched a clearance rate of 71.2% on 1259 auctions at the weekend, compared to 72.2% last year. The overall clearance rate for the year will likely be close to 74.5%, according to Larocca, higher than the 72.7% recorded last year.
Larocca says while the Melbourne market has softened in recent months, that is characteristic for this time of year.
“It’s typical of a market that is performing quite moderately,” he says.
Melbourne logged a 65.9% clearance on 1,535 homes this weekend, compared to 64.9% this time last year. Larocca says the clearance rate for 2014 is likely to be marginally lower at around 68.6%, compared to 69.2% in 2013.
The overall clearance rate for Brisbane in 2014 is likely to be 45.8%, higher than 41.5% last year, while Adelaide will sit at 62%, higher than 56.5% last year.
Perth has dropped to 41.2% for 2014, lower than 46.5 % last year.
Looking forward to 2015, Larocca says much will hinge on overall economic conditions, suck as economic growth, unemployment figures and the Reserve Bank of Australia’s move on interest rates.
“We probably shouldn’t be hoping for more cuts,” he says.
“They may provide a short-term boost and make people feel good, feel as though they are paying less, but it shows the Reserve Bank is saying there are problems with the economy. The property market has performed well with higher rates in the past.”
Larocca forecasts slightly more subdued clearance rates for the start of 2015, expecting major capital cities to drop to the mid-60s.
“I think there will be a reduction in overall auctions numbers too, we won’t see the sustained growth we saw this year, reflecting the strength of the market has toned down as the year goes on,” he says.
“Overall, I think the market will be standing still until we see some stronger, positive economic signs.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

Hammer falls on a stronger auction year than last

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Another near-record number of Sydney homes went under the hammer with 979 weekend auctions.
It ranked as the fourth highest day for auctions this year and the fifth highest ever.
Around 400 auctions are scheduled just five days before Christmas.
The weekend result, according to the initial Australian Property Monitors (APM) report, was 75%, with the prior weekend revised down to 65%.
The inner west hosted 172 auctions followed by the south with 141, but the busiest suburb for auctions was Blacktown in the west with 15, followed by Mosman on the lower north shore and Epping on the upper north shore each with 14.
APM had nine sales among the 10 reported results at Blacktown.
The price ranged from $497,000 for a three bedroom cottage <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011604082" target="_blank">at 41 Maloney Street</a> (pictured above) to $902,000 for a four bedroom, 10 year old home on a large 1162 square metre block at <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011625163" target="_blank">2a Felicia Place</a>. Starr Partners were saying $799,000 plus for the pricey offering.
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Blacktown secures strong auction success among busy Sydney auction weekend

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The lead image says it all really. CBD-based aerial photography firm <a href="http://www.lensaloft.com.au/">Lenasoft</a> captured Melbourne at its magnificent best, with no shortage of cranes visible. In a year like no other relating to development, we've witnessed an ever increasing batch of highly impressive projects come into the pipeline, while the overall construction scene has never been busier.

Opinions will vary tremendously, but this is Apartments.com.au's the good, the bad and the ugly for 2014.

<h2>The Good</h2>

The continued influx of Asian developers has bought on a different design dynamic throughout 2014. With comparatively grander intentions than domestic developers and with the financial backing to match, some exceptional proposals have been put forward and approved in the course of this year. If development is to occur, it should be of the highest possible design quality and our perception is there's no shortage at the moment; <a href="/buildings/380-melbourne-380-lonsdale-street-melbourne">380 Lonsdale Street</a> nudging out all others as our favourite design for 2014.

In a market sense, Melbourne just keeps going! Perhaps it is a sign of the underlying strength of the residential sector, but I can't think of an apartment project during 2014 that failed to materialise once sales had begun; there'd be a handful out there no doubt. Elsewhere commercial, retail and particularly institutional development has fired throughout the year. Has the development cycle flattened out to be perpetually busy in a sign of Melbourne's increasing population and overall maturity?

<h2>The bad</h2>

Is there an ongoing, subtle erosion of Melbourne's heritage character? Yes.

I'm not necessarily referring to headline firestorms such as The Palace on Bourke Street, but the smaller projects that only garner comment on websites and forums dedicated to such matters. 36-40 La Trobe Street and 137 Bourke Street have been demolished while <a href="/news/planning-application-488-494-la-trobe-street-west-melbourne">488-494 La Trobe Street</a> looks to be going the same way. Is facadism better than nothing? Have City of Melbourne and state authorities implemented adequate heritage controls?

No doubt buyers in <a href="/new-apartments/150-queen-street-melbourne">Tower Melbourne</a> would be ill at ease after the marquee project has been in hiatus for 2014, as two rival developers have been mired down in legal wrangling regarding adjoining developments. A bad outcome all round!

On a micro level, we've had more than enough individual correspondence this year involving the average domestic buyer (such as you or I) - in the position of finding the best apartments within a given project - have been snapped up either by channel investors or overseas buyers. As always opportunity will arise and the market will address this by innovative means, look no further than Apartment Register.

<h2>The ugly</h2>

The two-horse race will continue into 2015, but there's no doubt the two ugliest affairs of 2014 were The Palace saga and East West Link.

The Palace involved a fourth planning application for the site this year, belated height controls for the precinct, public discontent, the removal of what many consider to be treasured interiors of the venue; Benny Hill show, anyone? While so many planning applications delivered excellent outcomes over the course of the year, The Palace leaves a sour taste in the mouth in so much that it's the pin-up for what happens when developers with intent meet with lackluster planning controls. Everything has gone wrong!

The key to East West Link is also mass (and I emphasize mass) public discontent, for it doesn't occur all that often. From protests early in the year to the tearing up of contracts, it's never been far from the headlines.

The advancement of the city's infrastructure which will cater for our booming population is of paramount importance; no politics thanks although unfortunately one feels both are intrinsically entwined. How much of a financial and infrastructure blunder the East West Link will be seen as will only become apparent during 2015, when the build consortium is remunerated and more importantly how quickly and to which replacement infrastructure projects will funding flow to.

<h2>Thanks to those who matter</h2>

After a long year, we've forged ahead thanks to the hard work and dedication of a select group of people (you know who you are) and the ever present support from many, many industry participants as well.

With all said and done for 2014, we wish all our readers a relaxing and fulfilling festive period. Apartments.com.au will see you again - and be back to our normal publishing regime - on Monday January 12th 2015.
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silvermb

The year that was 2014

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The Housing Industry Association’s (HIA) latest Stamp Duty Watch report has criticised first home owners grants, noting that in the majority of states the grant doesn’t even cover the stamp duty bill, even when considering stamp duty concessions.
HIA senior economist Shane Garrett looked closely at the different states and the effect of grants and concessions for first home buyers, concluding that the result is unimpressive.
“While FHBs receive grants from state governments and concessions on stamp duty in several states, the overall effect of these supports is unimpressive,” said Garrett.
If buying a median priced new home, he said that New South Wales, Victoria and Western Australia will cost more than the grant on the stamp duty bill alone. In South Australia and the ACT, they are left with a few hundred dollars.
Of course, first home buyers will not always look at median priced homes and this equation does look somewhat more attractive as the price is reduced and, subsequently, the stamp duty cost decreases.
“Stamp duty bands and rates do not respond to episodes of strong price growth,” he said, saying it had detrimental effects on home affordability.
“The tax adds hugely to household indebtedness by forcing monthly mortgage repayments upwards. Reform aimed at reducing the burden of the tax must become a priority for both state and federal governments,” he said.
 
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jduke-EHk3XBmHkn

First home owner grants barely covers stamp duty: HIA

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Anthony Cordato, the Cordato Partners property investment lawyer, says many first-time property buyers are buying an investment property to rent out, instead of buying a home to live in.
He said the trend made perfect sense for four reasons:
<ol>
<li>Since 2011, the withdrawal of the first-home owner grant and stamp duty concessions has encouraged first-home buyers to buy an investment rather than a home.</li>
<li>Lenders, particularly second-tier lenders, offer 30-year investment loans with five years’ interest only followed by 25 years’ principal and interest, which means low repayments for five years.</li>
<li>Direct property investment has tax advantages of negative gearing and depreciation.</li>
<li>Availability of new stocks of home units and house and land packages is increasing.</li>
</ol>
"First-home buyers have merely changed into first-home investors," he suggested to the Australian Financial Review.
In October, 11.6% of home loans were made to first-time buyers, as against a long-term average of 20%, according to the Australian Bureau of Statistics. 
You may also want to read: 
<a href="/expert-insights/buying/buying-an-investment-property-while-renting-the-pros-and-cons">Buying an investment property while renting: The pros and cons</a>
 
 
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Four reasons why more first home buyers are now first time investors 

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A five-bedroom, three bathroom period home at 15 Kalimna Street, Essendon, fetched $2.917 million at weekend auction.
The initial $2.35 million pre-auction price guidance was incased during the campaign to $2.5 million plus.
<a href="https://www.realestateview.com.au/Real-Estate/15-kalimna-street-essendon/Property-Details-buy-residential-7890096" target="_blank">The grand Edwardian home</a> sits on a substantial 1115 square metre block at 15 Kalimna Street in Essendon's Windy Hill district.
It last traded at $1.86 million in 2004 and before that $460,000 in 1991.
Prices had hit $2.75 million next door in April for a home on 1074 square metres.
 
<div class="module image-module module-image-650w366h id1227148415562">
<div class="module-content">
<div class="image-block image-650w366h">
<div class="image-frame"><img src="https://resources2.news.com.au/images/2014/12/08/1227148/415562-bfed1e14-7e61-11e4-9caa-85bf895cb19f.jpg" alt="The elegant period details are a highlight at 15 Kalimna St, Essendon." width="650" height="366"></div>
 
Nelson Alexander, Essendon sold the property that features ornate cornices, open fireplaces and rich timber tones.
</div>
</div>
</div>
A self-contained guest wing is located at the rear of the house.
The wide and leafy Kalimna Street is within walking distance to Pascoe Vale and Mount Alexander roads, but you can't hear any traffic.
It's the large Federation and Edwardian brick homes that make Kalimna Street the suburb's top street.
The house was the fifth most expensive home to sell in Australia last week, <a href="/expert-insights/buying/melbourne-beats-out-sydney-in-most-expensive-sales-of-the-week-corelogic">according to CoreLogic RP Data</a>.
 
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