<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

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AMP Capital and Mirvac have lodged plans for its an upmarket apartment development on the former Coca-Cola headquarters site in Sydney’s Circular Quay.
The $100 million redevelopment, which will have an estimated $300 million value on conclusion, is located at 71-79 Macquarie Street, the last of the 1960s office blocks on the dress circle location. It was built by WD &amp; HO Wills who purchased the site in 1961.
Preliminary approval at concept stage was given in 2012 by the NSW government. The building will provide 109 residential/serviced apartments, six levels of basement car parking and new retail tenancies fronting East Circular Quay, Macquarie Street and the through site link.
With close proximity to Circular Quay, and the Cahill Expressway, Tzannes Architects won the design competition featuring four other leading Australian firms, FJMT; Bates Smart; HASSELL and Durbach Block Jaggers. 
The Alex Tzannes architect plans have only just gone on public exhibition, but <a href="https://71macquarie.mirvac.com" target="_blank">prospective buyer registration</a> is also now being sought by Mirvac in what is anticipated to be a popular rare opportunity to buy on the dress circle strip. There will be 47 luxury residences on the upper 10 levels of 71 Macquarie Street. The entrance level for the 62 serviced apartments and residences will be on level three.
There will be 65 one bedroom apartments, 17 two bedrooms, 25 three bedrooms and two penthouses. The total serviced apartment space allocation is 4475 square metres with 6487 square metre space devoted to the private prestige apartments.
AMP Capital has previously advised they see the million project as set to "revitalise an important part of Circular Quay”.
The development would “realise the original vision for the East Circular Quay precinct by completing the colonnade that extends along East Circular Quay from the Opera House”.
<img src="/images/2014/03/31/sydney-march-31-one.jpg" alt="">
Excavation of the site could reveal traces of Billy Blue's hut, according to the Godden Mackay Logan heritage report. He was the Jamaican-born ex-convict who was Governor Macquarie's watchman. The Stephenson and Turner-designed office block was built between 1964 and 1966 on former 1860s wool stores which were later used as NSW Lancers light horse squadron headquarters, garaging, and dance halls. 
<img src="/images/2014/03/31/sydney-march-31-two.jpg" alt="">
<a href="/news/as-residential-reigns-amp-finalising-east-circular-quay-office-block-redevelopment">It was two years ago when </a><a href="/news/as-residential-reigns-amp-finalising-east-circular-quay-office-block-redevelopment">the NSW government gave its provisional go-ahead</a> for the demolition of the former Coca-Cola headquarters, at 71-79 Macquarie Street in what will be the final phase of the East Circular Quay redevelopment. 
The tenants Coca-Cola Amatil moved from 71 Macquarie Street to North Sydney four years ago.
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jchancellor-FAypfDUnLy

Buyers sought as AMP Capital-Mirvac Circular Quay Tzannes-design plans lodged

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Eq. Tower is coming to Melbourne’s northern precinct and boasts karaoke facilities and a mahjong, poker and billiards room.
The <a href="https://www.eqtower.com.au/" target="_blank">Eq. Tower</a> development, a joint venture between ICD Property and Sino-Ocean Land, is an Elenberg Fraser designed residential creation on 62 levels, that looks to have a ‘luxury hotel’ appeal.
One cannot help but imagine that with the karaoke/mahjong blend of attractions there is likely to be a marketing effort to overseas buyers.
The tower will contain 632 one, two and three bedroom apartments with views of the city skyline.
One bedroom apartments, from 40 to 54 square metres, start from $359,000, with two-bedroom apartments spanning 53 to 71 square metres from $489,000. Three bedroom penthouses, at 81 square metres, start from $891,000.
The tower will include laneway-level shops and cafes, to complete the link between Melbourne Central and the Queen Victoria Market.
The lobby will include high-ceilings and mirrored wall paneling.
Communal facilities, beginning on level seven, includes an outdoor area with 25-metre pool, spa and sauna, and grassed relaxation areas. Similarly, inside, there will be an indoor gym, private cinema, communal kitchen and dining room, lounge and karaoke suites.
On level 33, a ‘sky-high’ club will be created with a private dining room seating up to 20 guests, a games room with a billiards, poker and mahjong table, and a lounge. All these facilities can be booked on each resident’s smart phone.
Michael Mai, managing director of ICD Property, said that the tower would be a strong sense of community and integrated vertical living.
“Elenberg Fraser has succeeded in bringing this vision to life and so we present Eq. Tower as the future of Melbourne living where residents can enjoy just as many experiences within their own apartment building as outside of it,” he said.
Estimated completion is in October 2017.
For the latest development listings, brought to you by Property Observer and partners, see our <a href="https://showcase.propertyobserver.com.au/" rel="nofollow">INVESTOR SHOWCASE</a>. 
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jduke-EHk3XBmHkn

Karaoke, mahjong and poker all features of new Eq. Tower in Melbourne

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The prime Glen Waverley restaurant retail premises at 88 Kingsway fetched $3.61 million when a disparate group of bidders sought the late March auction offering.
It has been conservatively expected by the Savills agency to fetch over $2.5 million with the 190 square metre property generating more than 150 inquiries mostly from Chinese Australian buyers. It was announced on the market at $3 million.
 <img src="/images/2014/03/28/glen-waverley-march-28-fifteen.jpg" alt="">
The interested parties had been attracted not only by the suburb's growth potential but the lucky street number 88. The rental income was $68,000 annually, reflecting an initial 1.88% rental yield.
Some 80 plus contracts had been issued, but there were just the eight bidder at the onsite auction attended by a large crowd on the footpath. Bidding opened at $2 million.
<img src="/images/2014/03/28/glen-waverley-march-28-eleven.jpg" alt="">
It was knocked down to a Chinese Australian buyer by Savills agents Joseph Catanese and Clinton Baxter. The retail property investor (pictured with smile below) migrated 27 years ago from Macau.
<img src="/images/2014/03/28/glen-waverley-march-28-thirteen.jpg" alt="">
<img src="/images/2014/03/28/glen-waverley-march-28-fourteen.jpg" alt="">
Adjoining the Century City Walk entertainment centre, it is a short walk from Glen Waverley railway station and its newly completed high rise residential.
Next door, 86 Kingsway fetched $1.2 million in 2011 for its 198 square metre space, reflecting $6,060 a square metre compared to today's $19,000 a square metre.
With 250 square metres, 101 Kingsway fetched $2.76 million 2011. There had been a $1.9 million sale in 2007 of 186 square metre premises at 106 Kingsway. There had been a $1.15 million sale in 2009 of 98 Kingsway which was 256 square metres. 69 Kingsway fetched $2.15 million in early 2012 for its 179 square metre holding.
The lease to Piatella Cafe runs until August 2016, with two five-year options to ­extend. 
The property has been held by the same couple for more than five decades.
The couple originally owned seven on the same street, but have sold them off gradually and this is their last holding.
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Lucky 1.88% rental yield as 88 Kingsway, Glen Waverley shop fetches $3.61 million at Savills auction

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A two-bedroom house with a rear studio made out of recycled tin has broken Redfern's house price record, selling for $2.73 million.
A crowd of 100 gathered at 105 Marriott Street, to watch less than a handful of bidders push the price $230,000 above the $2.5 million reserve for the 265 square metre property.
It sold to an inner-west family though Charles Touma of Belle Property Glebe by the Byron Bay bound vendor film producer Jane Smith, who grew up on a farm in Cootamundra and thinks tin sheds are great. There had been $2.25 million plus pre-auction hopes by Jane Smith who first moved to Redfern 15 years ago.
The property had previously sold in 2010 at $1.65 million, and in 2007 at $1,275,000 and at $701,000 in 2001.
The previous Redfern record was set in 2013 when the 27 Chelsea Street home of late artist Brenda Humble sold for $2.58 million. The four-bedroom home on 400 square metres sold for $330,000 over its reserve.
Redfern's weekend offering was a double fronted three bedroom freestanding home plus freestanding rear corner tin shed building. The historic 1940s tin shed had undergone a designer transformation into two self-contained spaces.
The rear tin shed - credited to architect Raffaello Rosselli - is set up as a work from home space with kitchenettes. It had also been available on Airbnb.
The shed in its prior state was structurally unsound so the original shed was disassembled in 2011 and set aside for the erection of a new timber frame.
Layers of corrugated iron accumulated over generations of adhoc repair were then reassembled on three facades with Corten steel window boxes opening up the once windowless space.
 The front and rear dwellings are connected by a grassed yard with timber decking.
The median house price for <a href="/news">Redfern</a> sits at $921,500, an 11% jump from the previous 12 months, according to RP Data.
It was among the many record prices set across Sydney suburbs so far this year.
This list of records set in eight known suburbs, according to APM figures, includes consecutive records set at Matraville.
Warren Ball Avenue, Newtown: undisclosed but $3.5 million plus (previous $3.2 million in 2010)
Water Street, Wahroonga: $9.2 million ($7.5 million in 2013)
Llandilo Avenue, Strathfield: $6.8 million ($5.75 million in 2007) through Joseph Georges &amp; Co
Larose Avenue, Matraville: $2.04 million ($1.93 million in 2014)
Trevilyan Avenue, Rosebery: $2.17 million ($2.02 million in 2013)
Belmore Road, Peakhurst: $1.64 million ($1.48 million in 2013)
Montpellier Ridge, Bella Vista: $2.24 million ($2.08 million in 2013)
Georges River Crescent, Oyster Bay: $3.45 million ($2.9 million in 2007)
(Source APM)
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Corrugated iron 1940s tin shed $2.73 million Redfern record after Raffaello Rosselli repurposing

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After writing my article a few weeks ago on <a href="/expert-insights/buying/how-to-accurately-calculate-the-cost-of-your-development-project">how to accurately calculate the cost of your development project</a>, I was chatting to Bob - one of our quantity surveyors (QS).
Bob a director of <a href="https://quanto.com.au/" target="_blank">Quanto</a>, our preferred QS, is the cost plan man and Glenn another director looks after our depreciation reports; both are very talented guys. 
So Bob estimates the building cost of a development and prepares trade based cost plans. During our chat, I asked if he’d be willing to run a cost plan for one of our completed projects as I wanted to conduct an experiment. 
Bob was up for it.  I wanted to see just how accurate the cost plan would be against the actual build costs.
I emailed Bob the plans for a dual occupancy project we had recently completed.  It consisted of two freestanding three bedroom, two bathroom, single lock-up garage villas situated on a corner site.
Not long afterwards, I received the cost plan. I opened the plan along side of the final builder’s account and was very happy with what I saw.
The actual build cost had come in a few thousand dollars less than the cost plan. This confirmed one thing that I did already know, that our builder is very good value. Not just because of saving but because we don’t use standard fittings in Property Bloom developments. We have upgraded tap ware, wall hung vanities, robe doors and appliances, the cost plan allowed for basic builder’s range.
The cost plan is 10 pages long and as I read through it I found it extremely interesting to see the detailed breakdown of every item, for every trade, for everything from bricks to letterboxes.  This information is invaluable and we can now use it to really investigate areas of our construction where there are a high proportion of costs and see what we can do to reduce them.
For example, I could see that the timber roof trusses cost for the dual occ was around $15,000.  I wondered if we could shave any costs from this area with a simpler roof design. 
I could see the slabs (two) cost came in around $28,000. Again, could we reduce this cost perhaps with a more effective slab design?  In fact when looking at the total for substructure, which includes piering, concrete footing beams, waffle pod reinforced concrete slabs, driveways, paths and water tank slabs, driveway cross over to street (on council land) and timber retaining walls, I worked out there was 13% of the total build cost in this area. If we can be a little more efficient here, we could see a good savings.
I plan to share and discuss the cost plan with our builder and use it as a tool to examine the different areas of the cost to see where we can make savings that won’t impact on the quality or street appeal of the dwellings. 
To this meeting I’ll invite the builder’s construction manager as he’s the man on the ground with years of building experience. He has in the past looked at plans and made a suggestion that has reduced costs. We’ll ask the builder’s drafts people and the builder’s estimators to be present and of course the sales manager who is our invaluable day to day contact who happens to also be an experienced developer herself.  
We already know we are passing on good value and a highly experienced builder to our clients, which helps to reduce some of the risk associated with property developing. We have refined our project management process over the years to make it more efficient and we are completing projects faster than ever.  This experiment and having access to a cost plan has made me look at our project costs from a different angle, that’s always a good thing.
<a href="https://www.propertybloom.com.au/" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Our cost plan v actual build cost experiment

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The pre-Easter auction rush gathers pace this weekend with 790 homes set to go under the hammer, the highest number of Saturday auctions this year.
The following two weekends’s each have in excess of 900 homes.
The prestige market continues to improve with last Saturday recording 20 sales of properties above $2 million, according to Australian Property Monitors.
Prestige buyers were active in the lower north last weekend with a stunning clearance rate of 92.5%. Next best was the city and east with 89.7% followed by the inner west with 86.8%.
Andrew Wilson, the senior economist for Australian Property Monitors, says this weekend the inner west will again provide the most number of auctions at 128 followed by the south with 107 and the city and east with 103.
Ashfield in the inner west is the most popular suburb for auctions this weekend with 12 listed. This is followed by <a href="/news">Paddington</a> in the city and east with 10 and number of suburbs with nine auctions scheduled including <a href="/news">Epping</a>, <a href="/news">Earlwood</a>, <a href="/news">Bexley</a> and <a href="/news">Chatswood</a>.
Last weekend a <a href="/expert-insights/buying/corrugated-iron-1940s-tin-shed-2-73-million-redfern-record-after-raffaello-rosselli-repurposing">Redfern offering set a record price</a> for the suburb. 
Recently a <a href="/news/lavish-strathfield-offering-sells-for-record-6-8-million-as-inner-west-prestige-gathers-pace">Strathfield</a><a href="/news/lavish-strathfield-offering-sells-for-record-6-8-million-as-inner-west-prestige-gathers-pace"> offering set a suburb record</a> (featured picture above) at $6.8 million through Joseph Georges, of George Ellis &amp; Co for a house with over 1,000 square metres internally, with garaging for seven cars, a pool and tennis court.
APM has listed some seven other recent record sales from <a href="/news">Bella Vista</a> in the north to <a href="/news">Oyster Bay</a> in the south.
"The Sydney market continues to meet every challenge over autumn and remains on record breaking pace for the number of listings, the number of sales and naturally the value of property sold at autumn auctions," Wilson said,
Last weekend produced another strong result for the local market with a clearance rate of 81.5% – the eighth consecutive weekend rate at or above 80% this year on they initial rests, although the revised figures after more results have settled around 77%.
"The average (initial) weekend rate this year at 82.5% is clearly higher than the 78.6% averaged over the final eight weeks of the last year’s spring-summer market and unsurprisingly well ahead of the 71.1% averaged over the same eight weekends a year ago," Wilson said.
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Some 790 weekend auctions, then the pre-Easter fortnight of 900 plus Sydney auction offerings

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Recently news filtered through that Sydney-based <a href="http://www.ashemorgan.com.au/">AsheMorgan</a> had <a href="http://www.theaustralian.com.au/business/property/docklands-sale-citys-biggest-in-seven-years/story-fn9656lz-1226857431660#">acquired Harbour Town and the Medibank Ice House Ice complex</a> within Waterfront City from <a href="http://www.ingrealestate.com.au/">ING Real Estate</a>. The $150m sale of the 40,000sqm centre follows the disposal of the Melbourne Star observation wheel to its Japanese builders and the sale of Waterfront City's only water fronted parcel to <a href="http://www.mab.com.au/">MAB</a> who are developing <a href="http://www.newquaypromenade.com.au/home">NewQuay Promenade</a>.

These asset disposals seem a clear sign that ING Real Estate are looking to slowly but surely exit the precinct and absolve themselves of any further responsibility within the area. They currently retain ownership (for the time being at least) of the the Costco building, the multi-level car park and an adjacent undeveloped tract of land. The question which must now be posed is - "where to now for the trouble plagued precinct?"

From the moment of its conception, Waterfront City has struggled with an identity crisis of sorts; it's part entertainment precinct and part shopping precinct with no real unifying theme. Bearing that in mind today's piece constitutes the first part of a series of articles looking at ways of improving the look and usability of the precinct.

<h2>Rebranding/Change of name</h2>

With the single stretch of water frontage now controlled by MAB (see render below) it would appear an opportune time to reconsider the precinct's name and branding strategy in addition to erasing the negativity associated with the precinct.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/NewQuay%20Promenade.jpg" rel="gallery-all" title="NewQuay Promenade. © MAB"><img alt="" class="image-article-full-width-580px" height="327" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/NewQuay%20Promenade.jpg?itok=V-VRoDDs" title="NewQuay Promenade. © MAB" width="580"></a>

Now this is probably best left to the marketing types but let's just go with something like North Dock. I'll be honest I didn't expend a whole lot of mental power in conceiving the name but I think it's not half bad. Feel free to suggest your own.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/northdock.jpg" rel="gallery-all" title="North Dock."><img alt="" class="image-article-full-width-580px" height="171" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/northdock.jpg?itok=2fnpsA8C" title="North Dock." width="580"></a>

<h2>Improving the first impression</h2>

When entering Harbour Town either after disembarking from a tram or crossing Docklands Drive, visitors to the precinct are confronted with a bland and sterile entry point defined by cheap finishes over what should be a gateway building. Introducing a green wall to soften the harshness of the facade and employing an operable timber screen both for resident privacy and visual interest would do wonders for a comparatively small outlay.

Signage identifying the precinct awaits within the central median strip, with new greenery also helping to remould first impressions for visitors crossing Docklands Drive from NewQuay Promenade.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/WFC%20Gateway_EDIT_0.jpg" rel="gallery-all" title="Refurbished entry to Harbour Town © Laurence Dragomir"><img alt="" class="image-article-full-width-580px" height="347" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/WFC%20Gateway_EDIT_0.jpg?itok=pyn9W4Xx" title="Refurbished entry to Harbour Town © Laurence Dragomir" width="580"></a>

<h2>Taking a cue from Merchant Street</h2>

Over at Victoria Harbour Lend Lease are in the process of <a href="http://www.victoriaharbour.com.au/news-and-events/news-and-events/news-degrees-of-change" target="_blank">upgrading Merchant Street</a> and have enlisted the help of renowned hospitality architects Six Degrees.

<blockquote>
"Changing things up is also part of Six Degrees’ approach to the project more broadly. Its aim is to achieve the mixture of venues and shopfronts you would see in any high street in Melbourne or, indeed, in any high street anywhere in the world. “In your usual high street … you’ve got evolution of 100 years – you’ve got all sorts of canopies, verandas, free-standing cantilevers and so on,” says Healy.

“We want to bring in that idea of variety and diversity. This is important at the level of scale. We needed to introduce a finer grain, so we decided to ‘chop’ and make tenancies into two and three … but we are trying to make it somewhat architecturally consistent per tenancy.”
</blockquote>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/MerchantStreetOverview.jpg" rel="gallery-all" title="Merchant Street revamp. © Six Degrees"><img alt="" class="image-article-full-width-580px" height="191" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/MerchantStreetOverview.jpg?itok=wLqVDh6M" title="Merchant Street revamp. © Six Degrees" width="580"></a>

While Merchant Street presents a much smaller challenge than any overhaul of Harbour Town, a similar strategy could be employed incrementally with a variety of architects and designers chosen. The focus on a greater mixture of uses, architecture styles and in particular activating the upper level concourse should be at the forefront when trying to lift/design the current venue out of the doldrums.

The introduction of maritime materials and architecture on the remaining undeveloped roof tops is a possibility - topped with gabled roofs perhaps mimicking the existing Central Pier sheds and similar to what is proposed at Wharf Precinct within Victoria Harbour

<h2>(Car) Park²</h2>

Visible from the Melbourne Star and once proposed to house the Docklands Ice Centre atop, the Waterfront City multi-level car park is presently a wasted site. With previous proposals for an apartment complex along it's western elevation yet to see the light of day, I believe it's worth considering some alternative uses for the site, in particular the expansive rooftop.

A perfect place for a park, maybe? And why not throw in a community 'greenhouse' on top as well?

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/waterfront%20city%20park.jpg" rel="gallery-all" title="Rejuvenated Car Park and park with 'greenhouse' on top. © Laurence Dragomir"><img alt="" class="image-article-full-width-580px" height="299" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/waterfront%20city%20park.jpg?itok=SwAru233" title="Rejuvenated Car Park and park with 'greenhouse' on top. © Laurence Dragomir" width="580"></a>

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/waterfront%20city%20park%20%2B%20greenhouse.jpg" rel="gallery-all" title="Car Park rooftop. © Laurence Dragomir"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/waterfront%20city%20park%20%2B%20greenhouse.jpg?itok=EQ_aaHD5" title="Car Park rooftop. © Laurence Dragomir" width="580"></a>

What do you think should be done to improve Waterfront City? Or what would you like to see?

Leave your comments below and stay tuned for part two focusing on the Medibank Ice House and Costco, to follow soon.
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Laurence Dragomir

What to do with Waterfront City? (Part One)

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Whether or not there is any, erm, value, in the concept of daily property values, RP Data's Daily Home Value Index undeniably creates a great deal of opportunity for nerds to play around with charts, and I, for one, am grateful for that.
Until just a couple of days ago the RP Data index was showing national property price gains for March of a staggering 2.3% which, if it were to be sustained, would represent the greatest monthly gain on record for RP Data in Australian capital cities, representing further validation that monetary policy works on dwelling prices.
Over the past year, the home values by city, have increased by 10.51%.
<div class="separator"><img src="/images/2014/03/27/wargent%20march%2027%20one.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator">This is probably easier to see in a bar chart of year-on-year price growth by city.</div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2014/03/27/wargent%20march%2027%20two.jpg" alt=""></div>
Brisbane and Adelaide are now showing some gains in 2014 but, perhaps unsurprisingly, it is Sydney and Melbourne that are really driving values higher.
From what I've heard from Queenslanders who are in the market it appears likely that Brisbane will begin to show some decent gains in the near future.
For 2014 year to date, Sydney prices are up by 3.74% and up by 2.13% in March so far alone.
<img src="/images/2014/03/27/wargent%20march%2027%20three.jpg" alt="">
Meanwhile Melbourne's chart finally seems to have moderated a little, but even so, prices are up by an outlandish 5.67% in 2014 and are still up by some 2.54% in the month of March so far.
<div class="separator"><img src="/images/2014/03/27/wargent%20march%2027%20four.jpg" alt="" style="line-height: 1.3em;"></div>
Viewpoint?
Is this all important? 
Well, I'm not a huge believer in the idea of daily home values due to the obvious limitations on capturing and processing data, but these figures are certainly important in one sense.
If nothing else, the headlines that record or near-record monthly price gains will  doubtless generate and which will be reported next week can themselves fuel a herd mentality.
Moreover, history has shown that where asset markets get away from central banks they can take on something of a life of their own.
The Reserve Bank will be watching all this with great care, of course.
Indeed, the RBA talked a lot about housing today, it's confidence instrumental in sending the dollar all the way up to a four month high of 92 cents.
Article continues on next page. Please click below.
<hr class="system-pagebreak">
RBA sees financial stability<a href="https://petewargent.blogspot.com.au/2014/03/rba-sees-financial-stability"></a>
I've made the point a few times that when it comes to monetary policy and other regulatory actions it matters rather less what people say on chat forums and rather more what the Reserve Bank of Australia (RBA) and APRA say, since ultimately they are the bodies tasked with making the key decisions.
While plenty of people disagree with the RBA, a couple of hours spent reading yesterday's <a href="https://www.rba.gov.au/publications/fsr/2014/mar/pdf/0314.pdf" target="_blank">Financial Stability review</a> should tell you how comprehensively the central bank assesses risk.
Fortunately, I spent the two hours so you don't have to.
The four points you're probably most interested in:
1- Banking sector
The Australian banking industry emerged from the financial crisis relatively unscathed, but events elsewhere showed that if ever there was a time to bolster capital requirements and shore up risk, it is surely now. The RBA reported that the banking sector got stronger in 2013 - asset performance is improving and bad and doubtful debt charges declined. Having increased from essentially nil in 2003, bank's non-performing loans are now declining as households enjoy very low interest rates. Businesses too, are finding the terrain a little easier than they were during the financial crisis, and bank loan books look much healthier for that. 
<div class="separator"><img src="https://4.bp.blogspot.com/-GwA78rGVzU8/UzNDqjKiPEI/AAAAAAAAMGs/ipFt4p2e95s/s1600/1+NPL.jpg" width="320" height="280"></div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-eW-JgsQCkFs/UzNDqsbQtZI/AAAAAAAAMGo/3uKq9bWVyIw/s1600/1+banks+npa.jpg" width="315" height="320"></div>
 
<div class="separator"><img src="https://3.bp.blogspot.com/-TsOy3JEZudo/UzNDqx36pBI/AAAAAAAAMG4/DTVMR1T0ZEk/s1600/1+NPloans.jpg" width="320" height="276"></div>
The non-performing share of banks’ domestic housing loan portfolios fell over the six months to December 2013, to 0.6% down from a peak of 0.9% in mid 2011, helped by low interest rates and tighter mortgage lending since 2008. 
The ratio of impaired housing loans has fallen recent quarters with rising dwelling prices helping banks to deal with their troubled assets and being able to report a reduction in mortgages-in-possession. Those are the bare numbers, but a bit of context here might be helpful:
<img src="https://3.bp.blogspot.com/-D9C8xPMieYY/UzND31yNDdI/AAAAAAAAMHA/bDZZZI42R-g/s1600/Loans+world.jpg" width="320" height="283">
We have just been through the greatest financial crisis since the Great Depression, so non-performing loans of 0.6% is a very sound result.
2 - Lending standards and bank balance sheets
Low-doc lending continues to represent less than 1% of loan approvals, while the share of loan approvals with loan-to-valuation ratios (LVRs) greater than or equal to 90% has been fairly steady since 2011 at around 13%.
The share of banks’ funding sourced from domestic deposits has increased from about 40% in 2008  to around 57% currently. That's a good thing. Australia's major banks (classified by APRA as "D-SIBS) have bolstered their capital and funding structures since the financial crisis and are in fact already well-placed to meet APRA's more stringent Basel III capital requirements which will kick in in 2016.
<img src="https://2.bp.blogspot.com/-e9_mJwMYvKk/UzNIDRDNhWI/AAAAAAAAMH0/wYD9Pu_9Qks/s1600/1+Banks+teir+capital.jpg" width="320" height="290">
A key point here: Banks are generating imperiously strong, comfortably double-digit returns on equity (ROE) and colossal net profits after tax (e.g. even after tax Commbank cleared a net profit of $7.8 billion in their 2013 financial year - before tax the figure was closer to $11 billion). Surely then, herein lies a golden opportunity to enforce the strengthening of capital ratios further through earnings retention, reducing dividend payments or scaling back share market purchases in order to offer dividend reinvestment plans (DRPs).
Of course, bank execs will want to continue chasing the golden egg of 15% ROEs through reinvestment and greater expansion of their loan books, but if our major lenders are to receive an implicit government guarantee then, stuff it, make them shore up their capital ratios, I say. It would be better for everyone over the long-term.
<div>3 - Household finances</div>
The overall financial position of the household sector was little changed in 2013 and indicators of financial stress remain low, reported the RBA.
Households continued to manage their finances with greater prudence than a decade ago, household wealth continued to increase, the saving ratio was within its range of recent years and, importantly, households continued to pay down mortgages much more quickly than required.
The household saving ratio remained within its range of recent years, at about 10%.
<img src="https://2.bp.blogspot.com/-UQvmR-p1Z10/UzNEEnQ07NI/AAAAAAAAMHI/gLk6L3O6T0w/s1600/2+Financial+stress.jpg" width="320" height="262"> 
<div class="separator"><img src="https://4.bp.blogspot.com/-fjYcTDIgY4Y/UzNEE7TBr9I/AAAAAAAAMHM/-ZYfXIBv9dc/s1600/2+indebtedness.jpg" width="320" height="275"></div>
The proportion of disposable income required to meet interest payments on household debt has now stabilised over the past six months, having previously declined in line with the fall in mortgage interest rates in recent years. 
<div>The good news is that households have used lower interest rates to continue paying down their mortgages much more quickly than required.</div>
<div> </div>
<div>Remarkably, the aggregate mortgage buffer has risen to almost 15% of outstanding balances, which is equivalent to two full years of total scheduled repayments at current interest rates. </div>
<div> </div>
<div>The RBA notes that therefore households have considerable scope to continue to meet their debt obligations even in the event of temporary unemployment. </div>
<div> </div>
<div>Overall, aggregate indicators of financial stress remain low.</div>
4 - Housing market
As for the housing market, the RBA noted that lending to self-managed super funds (SMSFs) is now being tightened up and remains only a small part of the market, as do purchases by non-residents.
<div>Housing loan approvals are picking up across Australia, but are really firing in New South Wales (read Sydney).<img src="https://3.bp.blogspot.com/-seh8bfGiY6s/UzNEPiGkQZI/AAAAAAAAMHk/Uf0h69Oz_4E/s1600/3+loans+approved.jpg" width="275" height="320"> <div><img src="https://2.bp.blogspot.com/-Vp3RfCTGdA4/UzNEPmuESqI/AAAAAAAAMHg/7kfG7WD0kDs/s1600/3+SYDMLB.jpg" width="320" height="264"></div>
 <div><img src="https://1.bp.blogspot.com/-1Z35t1qQdiI/UzNEE_oxS_I/AAAAAAAAMHc/9ld1-R-BiWc/s1600/2+Savings.jpg"></div>
The financial crisis seems to have scared households away from the share markets and towards housing according to surveys. Note how sentiment towards equities hit lows just when share market valuations became cheap and more attractive!</div>
The RBA noted that "the pick-up in investor activity in the housing market does not appear to pose near-term risks to financial stability" but "developments will continue to be monitored closely for signs of excessive speculation and riskier lending practices". The Reserve Bank is very keen to ensure that lending standards in Australia remain high.
Summary
There is much more besides which you can read <a href="https://www.rba.gov.au/publications/fsr/2014/mar/pdf/0314.pdf" target="_blank">here</a>, but that is the flavour of the report.
Lending standards will be monitored but on the face of it the RBA appears to be more focused on aggregate loan impairments and indicators of financial stress than dwelling prices. 
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pwargent-M4siyDbqQY

Is March the biggest month in Australian property history?

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This week RP Data is expecting 1,320 auctions in Melbourne. This weekend last year was during Easter so does not provide a useful comparison.
This is the third week in a row with over 1,000 auctions and that is unprecedented in Melbourne. The highest volume of auctions is in <a href="/news">Reservoir</a> with 26 followed by <a href="/news">St Kilda</a> with 23 and <a href="/news">Armadale</a> with 21.
All current indicators show signs of a market that is picking up strength with volumes increasing, days on market falling and vendor discounting reducing.
Over the last week the measure of days on market for a house to sell at private sale has dropped from 37 to 35 days in Melbourne. Strengthening demand also leads to vendors at private sale discounting from their advertised price to a lessor degree – this has dropped from -5.5 to -5.4% over the last week.
These market indicators can prove to be volatile on a weekly basis but the trend is clear and is likely to be confirmed in increased values when the RP Data home price index is released in the next week.
Key data
<ul>
<li>Clearance rate week ending 23 March: 69.4%</li>
<li>Melbourne auctions expected week ending 30 March: 1,320</li>
<li>Melbourne private sales time on market week ending 23 March: 35 days (houses)</li>
<li>Melbourne vendor discounting market week ending 23 March: -5.4% (houses)</li>
<li>Listings being prepared for market are 13.1% higher in month ending 23 March</li>
</ul>
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rlarocca-zWhvjay44N

Unprecedented run of 1,000 plus auction weekends: RP Data's Melbourne auction preview

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Australian property prices are set to even out after last year’s growth in Sydney and Melbourne, according to new data from Residex, the research arm of online real estate portal Onthehouse.
Onthehouse claims that the Sydney market has reached its peak after 15% median price growth in the 12 months to February 2014. In the same period, median house prices in Melbourne rose in value by 10% while Perth’s prices grew by 9.25%, according to Residex. Weakening consumer sentiment and affordability issues are expected to contribute to a drop off in dwellings price growth over the next five years.
John Edwards, the consulting analyst for Onthehouse and founder of Residex, commented that wage growth had not kept pace with property price growth.
“While property values experienced strong growth in the last quarter of 2013, wages have not grown at the same rate. Sydney’s property market, which is a leading indicator for the national market, has consistently outperformed wages growth which continues to push property out of reach of buyers,” Edwards said.
“There is a natural limit on the maximum value of an asset at any point in time and that is the value at which the masses deem it to be unaffordable. At that point, competition for the asset diminishes. In Sydney, the trend data suggests that house prices are reaching their peak value in dollar terms for this period of growth.”
Residex cites the Westpac Melbourne Institute Index of Consumer Sentiment as a factor in its prediction. The index is at its lowest level since May last year, having fallen 10.9% from its peak in November 2013. It has also noted the same institute’s Unemployment Expectations measure, which has risen by 5.5% since May 2013, and is now sitting 13.6% above its November level. According to Residex, the unemployment index is at levels surpassed only by recession period readings during 2008-09, the early 1990s and early 1980s.
Onthehouse predicts that Sydney’s annual price growth will slow to 4% over the next five years, with Melbourne at 4% and Perth at 3%.
 
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