Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

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Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

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Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

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While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

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The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

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Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

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Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

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A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

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The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

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The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

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The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

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The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

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Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

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Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

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Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate

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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The Portside Wharf development in Hamilton has released 14 two storey terraces, with construction to begin later this year.
The two bedroom, two bathroom terraces will each have river frontage, while some will have private entrances with direct access from the wharf. They will occupy the bottom two levels of the 16 storey Pinnacle apartment complex. Residents in the terraces will have access to the building’s rooftop terrace, which features a pool, barbecue, entertainment area and gymnasium.
Only 12 of the 14 terraces released remain available to purchase. Prices begin from $795,000, ranging in size from 92 square metres to 183 square metres.
Portside Wharf includes four completed residential buildings in addition to Pinnacle and another development, Link, which are awaiting construction. The total Portside Wharf development also includes retailers and dining spaces.
It is the first stage of the Northside Hamilton urban renewal project, which when completed is intended to house around 10,000 residents.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
Images are artist impressions.
 
 
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New residential release from Portside Wharf development in Hamilton

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One of the greatest sources of property misinformation comes when newspapers report short-term price data from a single source. 
Tremendous importance is placed on monthly median price changes in figures from one research company and sometimes even weekly price movements. 
The reality is that monthly changes are often irrelevant and it’s quite farcical to place any significance on alleged weekly movements.
Undue emphasis on monthly data from one source caused some media to declare in October that the market had peaked and the boom was likely over. More recently, figures for the December quarter from multiple sources have made nonsense of that interpretation. 
But writers and commentators continue to repeat this kind of mistake because (a) they don’t understand real estate data, and (b) they don’t care too much because it’s easy copy and a cheap headline. 
The record shows that statistics from one source can be contradicted by figures from another. When media reports both in isolation the result is confusion and misinformation. 
As one example, Australian Property Monitors says the median unit price for Darwin rose 8% last year, while RP Data says it fell 4%. One week the headline shouts that the market is booming and the following week the same newspaper says the market’s in decline. 
Having said all that, we had a rare event last week when house price figures published by APM were almost totally in line with data published earlier by RP Data. I can’t remember the last time that happened, given the variances that usually arise from different methodologies and competencies.
This time around, both sources found that the average rise in house prices across the eight capital cities was slightly under 10% in 2013.
One said Sydney rose 15.2% and the other said 15.1%. Both recorded a 5%-ish annual rise in Brisbane and both agreed Adelaide’s market had nudged ahead about 3% last year.
RP Data said Melbourne rose 8.5% and APM said 8.6%. Have they been comparing notes? If so, they didn’t consult the REIV, because that august source of “interesting” figures has claimed a rise almost double that of the two independent research sources.
Darwin’s figures were a little wider apart, with one suggesting a 5% rise and the other a 7% lift. In Perth, RP Data’s 10% increase compares with APM’s 8.5% rise. Both sources claimed moderate rises in Hobart, one suggesting 3% and other 5%.
So, according to those two sources, all eight capital cities lifted their house prices last year, mostly by moderate amounts, with the exception of Sydney which had its first strong year in a decade.
There’s less uniformity in the data on apartments, but there are some areas of near agreement. The average across the capital cities, according to APM, was a rise of 8% while RP Data said 9%. Both reckon Sydney’s market lifted about 11% and they agree that Canberra rose around 1% and Adelaide by less than 1%.  
Melbourne had a solid year with both sources, but one records a rise of 7% and the other 9%. Ditto Perth, with a rise of 6% or 9%.
Hobart fell markedly, but the degree of decline varies from 5% with RP Data to 8% with APM.
As previously mentioned, Darwin’s situation is a mystery, given that one source reports a solid rise and the other a significant decline.
The bottom line is that while this kind of data can be interesting and occasionally informative, it is more often confusing and/or misleading. And it records the recent past, which really does very little to inform the future, which is the key piece of intelligence for property investors.
As I have written before, it’s far more useful to know what’s happening with the number of sales, rather than the median prices they produce.
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">hotspotting.com.au</a>.
You can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
 
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terryryder-YECXbqmri2

Short-term median price data can be interesting, but more often it's confusing or misleading

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The Australian Industry Group Australian Performance of Manufacturing Index contracted for the third month in a row in January, down 0.9 points to 46.7 points.
Seasonally adjusted, it remained in negative territory across all the major activity sub-indexes.
Some improvement was found in new orders and employment, with those sub-indexes contracting at a slower rate compared with December, at -48.8 and 48.3 respectively.
Some sub-sectors, however, recorded growth, including food, beverages and tobacco at 54.0, wood and paper products at 61.9, petroleum, coal, chemical and rubber products at 52.7 and non-metallic mineral products at 57.6.
Australian Industry Group chief executive Innes Willox said the year is looking challenging for manufacturers; however, some areas have positive signs of growth.
“Non-metallic minerals – which includes key building materials such as glass, bricks and cement – has improved in response to the beginnings of a lift in residential construction,” he said.
“Some encouraging signs are also evident in food and beverages manufacturing and in petroleum and chemicals manufacturing, possibly due to the lower Australian dollar over recent months.”
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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moliver-7qYWqnHmyR

Manufacturing slips for third consecutive month

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Off the plan properties are becoming increasingly attractive for property investors and home buyers, and in a property market that’s heating up, it makes sense. Buy now, for today’s prices, and have a home later that’s worth more than you paid for it. If everything goes well, it can be a dream. However, if you scrimp on your research, choose the wrong development or developer, then you could be in for a nasty shock.
In this Property Observer exclusive, we asked a number of property experts, including those directly involved in development, to <a href="https://www.propertyobserver.com.au/developments/exclusive-are-off-the-plan-properties-good-investments/2013103166079" target="_blank">provide their opinion about whether off the plan can be a good investment</a>.
Opinions were strongly split; some noted that off the plan is ‘rarely’ a good investment, with others saying that if you buy wisely you will reap the returns.
“When investors buy property off the plan they are essentially buying sight unseen. So the first rule should always be to ensure the developer and builder are reputable with a track record of delivering quality buildings as specified and on time,” said John Carfi, chief executive officer of Mirvac.
Meanwhile, Todd Hunter from buyer's agency wHeregroup notes that you may be paying top dollar for a developer who is paying for a marketing company, GST and a number of other aspects before factoring in their own margin.
Our other experts spoke of needing a ‘long-term’ view, and the fact that with current grants the properties can be good for first home buyers, as well as the associated risks.
Monique Sasson, from Wakelin Property Advisory has been forthright about her belief that the majority of off the plan investments don’t work due to the lack of scarcity value.
However, she notes that there are always exceptions.
“There are always two or three examples that break the rule to prove the rule, but they do tend to be geared towards owner occupiers, many of them are seven figures, rather than what I would consider to be the garden variety investment apartment at a more affordable level for most investors.
“I'm really talking about something between $500,000 and $700,000. Whereas these ones that may have started out as off the plan would have started out as $700,000 or $800,000 investments when they were sold but they'd now be worth well and truly in excess of $1,000,000 and sometimes even $2,000,000,” <a href="https://www.propertyobserver.com.au/news/properties-that-will-double-in-value-in-seven-to-10-years-monique-sasson-wakelin/2013091265003" target="_blank">she told Property Observer</a>.
If you’re determined to buy off the plan, then there are a number of things you can do to prepare yourself and mitigate against any risk.
Article continues over page. Please click below.
 
 
<hr class="system-pagebreak">
 
How you can mitigate risk
Never treat any aspect of the marketing material as gospel.
If you are being given a price for the apartment, triple check the inclusions – ensure these are noted specifically on the contract. Be wary of ‘estimates’. If you have been provided an estimated rental return and capital growth, find out what this is based on.
Rental returns should be based on other comparative rentals currently tenanted in the area. Ensure you check the vacancy rate. Call some local property managers and ask them what sort of demand there is for you sort of property and how much they would put the weekly rent at for prospective tenants.
Capital growth prospects should not necessarily be based on past growth. Trends can change at any time, and if you’re being provided some assumption of growth in the area, be ready to ask for the research that went into this forecast. Ask other experts about their forecasts.
Similarly, compare everything provided in the marketing material against the contract. Double check the inclusions, floor plans, delivery date and anything else you believe you are entitled to.
If there is a discrepancy in any of the material, you’ll want to be taking a close look at what you’re potentially going to buy.
Have your own team
Do not rely on the experts provided to you by any development company or one-stop shop. Ensure you seek out independent accounting and legal advice. Use these experts to put any of the claims of the developer to the test, and to help you with double checking the marketing material.
You’ll also want to ask your accountant or solicitor of anything that stands out to them as unusual, or to flag any common problems with you.
Research:
The area
Researching the area in which you’re buying should be standard for any home buyer or investor. There are many fundamentals and aspects to check first (you can <a href="?option=com_googlesearch_cse&amp;q=research%20an%20area" target="_blank">see a number of our research guides here to get you started</a>).
Prices can certainly drop in suburbs and you’ll want to ensure that you’re not overpaying to begin with. You'll want to esnure that the outlook is fairly comfortable for the future prospects, particularly as you are not going to get your hands on the property for some time.
Most crucially for those looking to buy off the plan is to find out what other developments are coming online in the area, particularly those that can substantially change what you are looking at now. Will something build out the view that you’re paying a premium for (or is there the capacity in the future)?
You will also want to find out the local opinion about the development. If there has been unrest from residents for the development, something regularly seen in the more tightly held areas of Melbourne, the stigma of the new building may be hard to shake off in the future.
The developer
Treat your discussions and research about the developer as a job interview. Ask for examples of previously successful projects and remember to check that they’ve come in on time, in budget and within expectation of previous owner occupiers.
Ensure they have completed similar projects before, and, if possible, visit the development to see how closely it stacks up against their marketing material.
You’ll want to check their insurances, and run checks through Fair Trading to find out about any cases against them. We also recommend a thorough Google search to find out what is being said about them online.
Ask the developer:
-          How long have you been working in the industry and what have your other projects been?
-          What development updates should I be expecting, and who can I contact during the construction?
-          Can I speak to some of your previous clients?
-          What sort of buyers have purchased the rest of the building?
-          What interest are you receiving on this building?
-          How long did it take to get development approval?
-          Can I see your balance sheet?
The development
Opportunity cost is a hugely important aspect to bear in mind, particularly when your capital is held up as you wait for construction to complete. Have a look at the lead time on these developments.
Be wary of any changes to the initial plans and of any differences to the show home and material you’ve been presented. What ‘wriggle room’ is there for this specific development, and in the contract, for you to be provided a different apartment? Never settle on the verbal agreement, and get everything in writing.
The contract is going to be one of the main pieces of paperwork that will look after you, should you have to take further action down the track. You will also want to find out if there is the ability to make changes in consultation with the developer if you are unhappy.
Fair Trading recommends the following questions should be asked (and checked against the contract):
<ul>
<li>
Can I make changes to the finishes in the kitchen and bathroom?
</li>
<li>
Can I select appliances such as stoves and dishwashers and items such as floor and wall tiles?
</li>
<li>
Can I visit the site during construction?
</li>
<li>
If the building is finished earlier than expected, has finance been suitably arranged?
</li>
<li>
What are my rights if construction is delayed?
</li>
<li>
Is my deposit secure if the building doesn't proceed?
</li>
<li>
Can I on-sell during the construction period?
</li>
</ul>
Source: <a href="https://www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Buying_property/Buying_off_the_plan.page" target="_blank">Fair Trading New South Wales</a>
RealestateVIEW recommends the following checks and balances:
- Take note of the completion date
- Are there penalties if you withdraw from the contract?
- Can you visit the site during construction?
- What happens if the developer runs into financial problems, and what happens to your deposit?
Source: <a href="/guides" target="_blank">RealestateVIEW</a> 
Read more over page: Free resources and useful information
 
<hr class="system-pagebreak">
Free resources and useful information
Finally, there's plenty of free information available online that will assist you in ensuring you choose wisely. Be wary of <a href="/news">any information that simplifies the process</a> or suggests it can be done cheaply or easily.
On Property Observer we have the following available for anyone looking to buy off the plan: An eBook, with <a href="/guides" target="_blank">14 tips for buying off the plan</a>
A number of articles about new developments near you, and an <a href="https://showcase.propertyobserver.com.au/" target="_blank">Investor Showcase</a> with further details Fair Trading also has a number of useful documents, such as <a href="https://www.fairtrading.nsw.gov.au/Factsheet_print/Tenants_and_home_owners/Buying_property/FTB21_Buying_off_the_plan.pdf" target="_blank">this PDF with a two-page guideline to your off the plan basics</a>
 
YOU MAY ALSO WANT TO READ:
The <a href="https://www.propertyobserver.com.au/developments/don-t-underestimate-the-risks-in-off-the-plan-buying/2013031959692" target="_blank">risks of off the plan buying</a> should not be underestimated
Ask Margaret: <a href="https://www.propertyobserver.com.au/residential/ask-margaret-should-i-buy-off-the-plan-or-an-existing-property/2013062862801" target="_blank">Should I buy off the plan or an existing property?</a>
The three risks buyers take when they buy off the plan, and <a href="https://www.propertyobserver.com.au/developments/three-risks-buyers-take-when-they-buy-off-the-plan-%E2%80%93-and-how-to-avoid-them/2011112952599" target="_blank">how to avoid them</a>
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
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jduke-EHk3XBmHkn

Considering buying an off the plan property? Read this first

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China’s manufacturing sector recorded its first decline in six months, according to the latest HSBC Purchasing Managers' Index (PMI) figures.  
The final PMI for January came in at 49.5, down from a score of 50.5 last month, where a reading below 50 points indicates a deterioration in conditions.  
“A soft start to China's manufacturing sectors in 2014, partly due to weaker new export orders and slower domestic business activities during January,” HSBC chief China economist Hongbin Qu says.  
“Policy makers should pay attention to downside risks and pre-emptively fine tune policy to <a rel="nofollow" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-01-30/final-hsbc-pmi-confirms-chinese-manufacturing-decline/5227892?section=business" target="_blank">steady the pace of growth if needed</a>.”
This article first appeared on <a href="https://www.StartUpSmart.com.au" target="_blank">StartUpSmart.</a>
 
 
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Chinese manufacturing declined in January

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The Proximity Hamilton development in Brisbane has sold $4.6 million worth of apartments in 30 days. 
Developed by Oakstead Property Investments, Proximity Hamilton will have 127 one and two bedroom apartments over 14 storeys. Many of the Cottee Parker Architects designed apartments in the Portside Wharf development will have water views. The building will also include a pool and outdoor entertaining areas.
According to Urbis associate director John Rivera, the area has traditionally enjoyed strong residential growth, while apartments in the Hamilton catchment area were priced above Brisbane’s median sales price.
“Hamilton apartments have shown largely uninterrupted price growth since the early 1990s, with capital appreciation averaging 8.8% per annum over the previous decade,” said Rivera.
Currently selling off the plan, 39 apartments have so far been sold, with total sales reaching $17.9 million. Prices begin at $330,000 for a one bedroom, 60 square metre apartment, while a two bedroom, two bathroom, 104 square metre apartment in the complex is selling for $655,000.
Buyers will have a choice of two colour schemes for their apartments, which also include floor to ceiling windows and European appliances.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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>.
Images are artist impressions.
 
 
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Proximity Hamilton records $4.6 million in sales for January

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Last weekend a much loved restaurant on the waterfront of St Kilda was burnt to the ground. Fortunately no one was injured in the blaze which was reportedly caused by fat in the industrial exhaust system catching fire. It is no doubt a difficult time for the owners of the business and those employed by the Stokehouse, however as co-owner, Frank Van Haandel pointed out, they are far more fortunate than those in the Grampians who have suffered immeasurably worse in the recent bushfires.

<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/photo-17.jpg" rel="gallery-all" title="The site of the recently destroyed Stokehouse restaurant"><img alt="" class="image-article-full-width-580px" height="433" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/photo-17.jpg?itok=LqzzYExn" title="The site of the recently destroyed Stokehouse restaurant" width="580"></a>

The site has now been cleared and media attention has turned to what to do with the site. The land itself is crown land which is leased out the City of Port Phillip for long term uses. Consequently the local council and the State Government will be significantly involved in the planning and design stages.

<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/photo-22.jpg" rel="gallery-all" title="Empty site surrounded by palm trees"><img alt="" class="image-article-full-width-580px" height="433" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/photo-22.jpg?itok=6eEWnKTA" title="Empty site surrounded by palm trees" width="580"></a>

The original structure was constructed around 1904 and has been extended and renovated several times over its 110 year history. Despite its age, the building was not listed on the heritage register and from many accounts was not of significant architectural value.

<blockquote>
The community is mourning … the special place that they celebrated is now gone.
<cite>Cr Amanda Stevens, City of Port Phillip Mayor</cite>
</blockquote>

Very early in the piece, the State Planning Minister Matthew Guy went <a href="http://www.3aw.com.au/displayPopUpPlayerAction.action?&amp;url=http://media.mytalk.com.au/3AW/AUDIO/Guy.mp3">on radio</a> to voice his view that an architectural competition should be held to create an architecturally significant design to replace the original. This was later contradicted by <a href="http://www.theage.com.au/victoria/design-competition-for-razed-stokehouse-ruled-out-by-government-20140120-314ve">The Age</a> in a subsequent media piece however by then the community debate had started, replica or new design, a restaurant or something more?

<blockquote>
It would appear to me to be a great shame if a building that has been so much in the public consciousness as a favourite St Kilda destination is not vested with some greater ideals of public good.
<cite>Professor Philip Goad, University of Melbourne</cite>
</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/photo-23.jpg" rel="gallery-all" title="Empty site with the Palais Theatrein the distance"><img alt="" class="image-article-full-width-580px" height="433" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/photo-23.jpg?itok=TMoXvXSf" title="Empty site with the Palais Theatrein the distance" width="580"></a>

<dl>
<dt><a href="http://theredandblackarchitect.files.wordpress.com/2014/01/photo-18.jpg"><img alt="St Kilda Pier Kiosk replica built 2006" class="size-medium wp-image-700" height="224" src="http://theredandblackarchitect.files.wordpress.com/2014/01/photo-18.jpg?w=300&amp;h=224" width="300"></a></dt>
	<dd>St Kilda Pier Kiosk replica built 2006</dd>
</dl>
There are many people, it seems, who are advocating for the building of a replica or a copy of what was destroyed. This position has some precedent in the more historically significant St Kilda Pier Kiosk, which also met its demise in flames back in 2003. The Kiosk had been standing at the end of the pier since 1904 and had subsequently made a very large impression on the hearts of locals. After much political and professional argument, it was decided to rebuild a replica from the original design. At the same time an addition to the rear of the building was completed in a contemporary style to increase the floor space. This act in a way re-wrote history in an attempt to claim back something that was gone.

As discussed in a <a href="http://theredandblackarchitect.wordpress.com/2012/07/08/heritage-round-new-is-old-again/" target="_blank" title="Heritage round, New is old again.">previous post on heritage</a>, there is a document which has been developed to assist with making ethical choices about our built heritage called the <a href="http://australia.icomos.org/wp-content/uploads/The-Burra-Charter-2013-Adopted-31.10.2013.pdf">Burra Charter</a>.

Below is an extract from the relevant section:

<blockquote>
Reconstruction

20.1 Reconstruction is appropriate only where a place is incomplete through damage or alteration, and only where there is sufficient evidence to reproduce an earlier state of the fabric. In some cases, reconstruction may also be appropriate as part of a use or practice that retains the cultural significance of the place.

Places with social or spiritual value may warrant reconstruction, even though very little may remain (e.g. only building footings or tree stumps following fire, flood or storm).

The requirement for sufficient evidence to reproduce an earlier state still applies.

20.2 Reconstruction should be identifiable on close inspection or through additional interpretation.
<cite>The Burra Charter, The Australia ICOMOS Charter for Places of Cultural Significance 2013, International Council on Monuments and Sites</cite>
</blockquote>

The charter sets out two key requirements to determine if a replica rebuild process will provide an acceptable outcome. Firstly does the building in question hold historical, social or spiritual value to the community? Without holding any value a replica rebuild is pointless. Once it has been determined that the building held significant value to the community the next requirement is to access the feasibility of reconstructing a finished product such that it doesn’t look like a poor quality caricature of the original. One of the most important aspects of this is accessing the documentation of the deceased building, to determine if there is enough DNA to successfully bring it back to life.

In the specific case of the Stokehouse I would argue that whilst there is clearly some social value placed by a small section of the community, these memories seem to be more in response to the experience of the people, food and atmosphere rather than the building itself. I have no doubt that those most familiar with the building will still have a strong attachment to the materiality of the place as it used to be. I would also argue however that these people are a small group likely limited to the staff and very frequent patrons, rather than the community at large.

Even if I am wrong and the community at large does have a strong emotional attachment to the building that was, an assessment must be made to determine if there is sufficient documentation to reconstruct the Stokehouse. Further to that, decisions will need to be made as to what year it should be modelled off as the building experienced had many changes over its lifespan.

A worst case scenario would have a poor quality replica commissioned which included all the previous buildings shortcomings and none of qualities or spirit which trigger fond memories of time gone by.

If the building were on private property ultimately it would be substantially up to the owners to decide how they should rebuild. However on this case the land is owned by the State Government. This means that they rightly have a substantial say in what gets built. Clearly in exercising this control they must act in the best interest of the community they serve.

This brings us back to a new design which can take advantage of the unique site and provide maximum value to the community. The idea of an architectural design competition certainly has merit in generating dozens of possibilities for the site. The big question is could such a process capture the soul of the previous experience whilst also taking advantage of all the new opportunities a rebuild offers. I would think this would ultimately depend on how the competition was run and how the winner was selected.

<blockquote>
We do need to understand what was beautiful about it, and what we loved about it and start the design process from there.
<cite>David Brand, Former Councillor</cite>
</blockquote>

<dl>
<dt>
<a href="http://theredandblackarchitect.files.wordpress.com/2014/01/photo-21.jpg"><img alt="Another opportunity that a redesign would offer is the opportunity to simultaneously rebuild and possibly integrate the St Kilda Lifesaving Club which is currently housed in the ugly shed next door." height="224" src="http://theredandblackarchitect.files.wordpress.com/2014/01/photo-21.jpg?w=300&amp;h=224" width="300"></a>

	 
	</dt>
	<dd>Another opportunity that a redesign would offer is the opportunity to simultaneously rebuild and possibly integrate the St Kilda Lifesaving Club which is currently housed in the ugly shed next door.</dd>
</dl>
In situations like this where a building is replacing one lost unexpectedly, it is always tempting for the owner to desire a lightning fast approach. The problem with this is that it often leads to reduced quality which will remain long after the urgency of the initial situation is long forgotten. To prevent this, in this case, I would like to see a temporary structure commissioned to provide a continuance of the fine food experience in the idyllic beach setting. This temporary structure could be prefabricated and modular allowing its reuse elsewhere once a more permanent building was ready for construction. It would also enable the business to keep a presence on the site and the local council to receive some of its rent.

If a design competition is no longer an option, as seems to be the case, it is clear to me that a more conventional architectural design process should ensue. This would enable experienced and highly qualified architects the time to properly investigate the site, assess the requirements of the Stokehouse and the wider community and then provide the well-rounded and considered response that the site and the community deserves.

Architecture is for Everyone.

Michael Smith is Director of Melbourne architecture firm <a href="http://redblackarch.com.au/">Atelier Red + Black</a>, and this article originally appeared on <a href="http://theredandblackarchitect.wordpress.com/2014/01/22/what-to-do-about-the-stokehouse/" target="_blank">The Red and Black Architect's blog</a>.

Further reading: <a href="/expert-insights/buying/what-to-do-about-the-stokehouse">What to do about the Stokehouse (Part Two)</a>.
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redblackarchitect

What to do about the Stokehouse

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Metro Development’s Madison Heights project has reached $105 million in sales, after settling 246 of its 308 apartments in five weeks.
The Bowen Hills apartment complex was developed by Metro Property Development in conjunction with Pearls Australasia. The development, set over 30 storeys, also includes 760 square metres of retail and dining space in addition to outdoor entertaining areas.
Metro Property Development’s managing director Luke Hartman noted the importance of Madison Height’s location in Brisbane’s growing market.
“Although the Brisbane market is picking up, quality apartments in the inner-city are still a rare commodity,” he said.
According to Hartman, the project’s situation in Bowen Hills has also attracted retailers, with IGA, Subway and liquor retailer Cellabrations signing long term leases.
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Madison Heights development sells 80% of stock

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Almost all market analysts appear to believe that Australian property prices will rise in 2014, and looking at the most recent housing finance data I can't disagree, broadly speaking. In the true spirit of a market cycle, it follows that analysts have suggested that there are <a href="https://www.propertyobserver.com.au/trends/overheated-markets-set-to-see-a-2015-correction/2014012267272?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=mostread" target="_blank">likely to be price corrections in 2015</a>.
Despite being a preternaturally optimistic property spruiker, that to me sounds like a reasonable base case scenario. The corrections will, of course, likely be more severe in 'looser' markets than those where appropriate stock is tight. However, as always, the 2014 picture will no doubt be fragmented.
Strugglers
I find it hard to picture much in the way of growth in Canberra/ACT, for example, given the likely impact of public sector cutbacks. Asking rents in the city have been plummeting with houses -8.4% year on year and units -5.3% year on year per <a href="https://www.sqmresearch.com.au/RentalVacanciesClimbDuringDecember.pdf" target="_blank">SQM Research</a>, which suggests that in 2014 prices will follow a downward trajectory. <a href="https://www.smartcompany.com.au/finance/investment/35181-alan-kohler-tips-strongest-2014-property-price-growth-for-canberra-darwin-and-brisbane" target="_blank">Alan Kohler recently predicted</a> 10% plus growth for Canberra in 2014 - I don't know what he's on, but I want some of it! I'll take a bet that growth is lower than double digits, though, and wouldn't be surprised if there's a minus sign or two somewhere in this year's data.
The optimistic Kohler also <a href="https://www.smartcompany.com.au/finance/investment/35181-alan-kohler-tips-strongest-2014-property-price-growth-for-canberra-darwin-and-brisbane" target="_blank">predicted 10%+ growth for Darwin</a>! Now, despite having lived in Darwin, I don't pretend to understand too much about the property markets up there except that the supply always seems to be outrageously tight and rents bordering on the extortionate. In spite of that, after a confounding run over the last decade and more, I've heard a number of analysts suggest that 2014 won't be a great year for property in the city.
I'll take their word for it, as my track record on working out what goes down in Darwin is mostly balderdash, but I do note that Darwin has been a massive outperformer in terms of 2013 asking rents growth (houses +5.9% year on year for houses and +7.7% year on year units per <a href="https://www.sqmresearch.com.au/RentalVacanciesClimbDuringDecember.pdf" target="_blank">SQM again</a>). It's always seasonal in the tropical north, remember. I'm a little ambivalent, so let's wait and see on the NT capital - Darwin has proved people wrong before and it might again.
As I've detailed in previous posts, <a target="_blank" href="https://www.propertyobserver.com.au/south-australia/adelaide-market-still-failing-to-launch-pete-wargent/2013092665307">Adelaide has ongoing problems</a> of an economic nature, which is one of the likely reasons why the city's property market has been the weakest of the major capitals. It's hard to see that changing too much in 2014 given recent adverse news on the automotive industry, although in certain sectors of the market vacancies appear to be reasonably tight.
On a recent visit to the city, it did appear to me that land release, if it were to be or could be facilitated, could actually bring dwelling prices down (always a big 'if' in Australia's capitals). Recent dwelling price data for Adelaide has yet to show any meaningful pick-up and investor interest, relatively speaking, appears to be quite substantially lower.
Hobart's economy is fundamentally rather weak, with unemployment in Tasmania comfortably, and for some time, the highest of any state. Yet there are rumours that, with attempts to stimulate the market via grants, the property market may finally turn or have turned the corner. Keep a close eye on SQM's <a href="https://www.sqmresearch.com.au/graph_median_weeks.php?region=tas%3A%3AHobart&amp;type=c&amp;t=1" target="_blank">vendor sentiment index</a> for our best leading indicator on likely changes, though there doesn't seem to have been a material improvement to date.
Regions
As for regional markets, I certainly don't pretend to follow them all, but note that in my home state of New South Wales any pick-up has been pretty subdued. Asking prices on the NSW south coast, for example, have been flatter than the England cricket team morale for some years (and that's pretty flat).
Also, as Louis Christopher of SQM Research has been warning lately, watch out for the impact of steepening vacancy rates in certain Queensland towns and mining towns (follow <a href="https://twitter.com/@LouiChristopher" target="_blank">his Twitter account</a> for more details). <a href="/news">Bowen</a> (seasonal), <a href="/news">Mackay</a>, <a href="/news">Gladstone</a>, <a href="/news">Townsville</a>, <a href="/news">Karratha</a> and <a href="/news">Port Hedland</a> each face challenges of varying magnitudes. Read more about this concerning trend.
Performers
Perhaps unsurprisingly, given the tight nature of our capital city planning regulations, the strongest 2014 capital growth seems likely to be in Sydney's inner and middle ring suburbs, with Melbourne, Perth and Brisbane vying for second place. 
Certainly, the first inspections I've been to in 2014 had 'seemingly interested' buyers crawling all over them - four dozen people virtually queueing out the door in one instance - and that was midweek! I'm not sure I'd buy the line that the market is going to show slowing growth in the early part of the year just yet.
Impact of low rates
If you hark back a year or so before the market took off there was plenty of reverse-spruiking (if that's even a thing) which claimed that falling interest rate cuts would not impact the property markets favourably. I have some sympathy with the viewpoint because historically dwelling prices have at times moved in concert with the interest rate cycle (i.e. rate cuts being reflective of a weakening economy and deteriorating confidence and thus prices falling...and vice-versa), and not only in Australia.
However, what looking too much in the rear view mirror fails to observe - and why I disagreed vehemently with that view - is that, certainly in capital city markets such as Sydney where I live, the market is largely now being driven by yield-seeking investors. Perhaps around 50% of mortgages are being written for that sector of the market rather than for home buyers in recent months. And, for that reason, the inner/middle ring capital city markets are interest rate sensitive, whatever anyone tries to claim to the contrary.
What this means, naturally, is that these investor-led markets will likely be sensitive on the way back up as well as on the way down, at least as much in terms of future expectations as actual interest rate hikes. Therefore, much interest will be shown towards the Reserve Bank's monetary policy in the first half of 2014.
For my cautious money, interest rates are going nowhere for some time yet, and with the cash rate stuck at a generational low of just 2.50%, any moderate hikes back towards a neutral cash rate won't be enough to stall the property markets until at least 2015. That's my best guess anyway, and, let's face it, it is a guess.
Article continues on next page. Please click below.
 
<hr class="system-pagebreak">
Lowest rung problems
The downside to all this is that in those four major capital city markets which look set for capital growth, and particularly properties at the bottom end of the market, is that the goalposts are likely to move unfavourably away from them. Typically, one and two bedroom units are also often the dwelling types which appeal to investors.
I have a great deal of sympathy for those genuine home buyers who are stampeded or beaten to the mark by return-seeking investors, and it's a problem with seemingly few easy answers. I note that there are answers, just not easy ones to implement.
The more heartening news is that the most recent data from Rate City showed that well over four-fifths of today's mortgage products are now offering 95% LVR products - at least, to those who are able to qualify for them. This presumably helps to bring down the required deposit for those who can obtain such a loan, even in the most expensive metropolis of Sydney, to a more manageable level, with the added bonus that mortgage repayments are at the cheapest levels we've seen in a generation right now.
Remember that first timers who are being realistic shouldn't be looking at buying median-priced property. If, collectively, they are looking at the middle sector rather than the lower rungs of the ladders, then essentially our market dynamics are truly stuffed beyond repair.
I'd caution, though, that if you aren't in a position to save such a deposit comfortably, it's probably not a great time to buy, for interest rates close to the zero bound only realistically have room to move significantly in one direction over the medium term, and that's not down. If saving a deposit is not a manageable task at this point, taking on a 25 year mortgage is probably too risky a financial decision and in the absence of wage increases would leave the potential buyer massively exposed to default as and when the official cash rate reverts to the mean and borrowing rates follow.
Clearly, in today's markets, the dice are firmly loaded in favour of the dual income household, which is one of the reasons I expect that first home buyers in the future are likely to be in their early 30s rather than 20s.
In a generation we've seen a tremendous shift in the labour force towards both young men and women earning salaries, which most people agree is a great thing and representative of progress. The clear downside has been that, in trying to 'keep up with the Joneses', we've collectively lifted the deposit hurdle by using two incomes instead of one to 'get ahead' and to lift dwelling values higher. Unfortunately, with two incomes now as much the norm as the exception, those of us in dual income households really aren't all that much ahead. Ah, the fallibility of it all.
All of the above said, I do believe that ultimately the market will speak, and as and when property prices cannot be afforded they will not be, and dwelling prices will correct themselves. Presently, our major bank data shows that non-performing loans are running at low levels in Australia. If that changes, I believe, so will market prices.
Monetary policy
Watch out for any changes in the wording in the next policy statement from the Reserve Bank, and expect to see the first meaningful references towards noting a shift in real estate speculative investment activity. The December 2013 statement appeared remarkably flippant towards the sector, seemingly implying that an uplift in prices should encourage more investment (i.e. dwelling construction, rather than speculation) with little in the way of caution expressed.
Here's what RP Data reckons has happened to dwelling values over the past 12 months. Not much cop in Adelaide, but prices recovering in most other cities to either close to or above previous nominal highs.
In inflation-adjusted terms RP Data's <a href="https://www.propertyobserver.com.au/trends/inflation-suprisingly-strong-while-adjusted-home-values-below-previous-peaks/2014012367305" target="_blank">Cameron Kusher has prices at about 5% below previous respective peaks</a>. I'd probably normally say that an adjustment for household incomes rather than a basket of CPI goodies would be a superior measurement criterion, but given that wages growth has been subdued, the results would probably be fairly similar in any case.
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' was released on 1 September 2013.
 
 
 
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pwargent-M4siyDbqQY

The strugglers, performers and signs to watch out for in 2014

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Property buyers of Chinese descent find no shortage of coverage in the Australian press. Chinese investors are accused of inflating house prices and developing huge, tasteless properties. Wherever they go, they leave swathes of weeping would-be first home buyers in their wake, while bloggers want to make sure they don’t get their hands on <a href="/news">our heritage properties</a>.
According to Fairfax’s Paul Sheehan, the mere sight of Chinese buyers at an auction is enough to make one’s heart sink; even if one happens to be a high-income executive, with a partner on a good income.
As we’ve <a href="https://www.propertyobserver.com.au/news/letter-from-the-editor-talking-about-foreign-buyers/2013112966687" target="_blank">noted before</a>, when people write about “Chinese buyers”, they never quite seem to be sure whether they’re referring to Chinese residents, Australian born buyers of Chinese descent, Chinese expats who have Australian citizenship, or just people who show up to auctions with black hair. But whoever they are, we do know that they are “cashed up”, they “swoop” on properties and “attack”, “rock”, “take over” or “flood” the market.
Australia’s Foreign Investment Review Board (FIRB) approved $4.09 billion worth of real estate for purchase by Chinese citizens in 2010-11, placing Chinese buyers behind those from UK (non-Australian citizens), who made $4.61 billion worth of approved property acquisitions in the same period.
However, the FIRB’s figures don’t make a distinction between commercial and residential property investment, nor does it take into account the unapproved foreign investment – from China and elsewhere – that undoubtedly occurs. Despite the fever pitch commentary around Chinese buyers (whoever they may be), there are very few statistics available on the prevalence of property investment from buyers of Chinese descent. There is even less empirical evidence to support the claim that buyers of Asian descent are pricing Australian citizens out of the market.
In the face of such a dearth of evidence, media outlets are required to maintain a certain delusion in order to continue trotting out the same tired lines about Chinese investors crippling Australian buyers (who might be struggling first home buyers, or luxury investors, depending on who you ask). The fiction that all buyers of Asian descent are the same – Chinese born, non-citizens, and wealthy  – has to remain if we’re to characterise the increase in property investment by buyers of Asian descent as something that renders “real” Australians victims.
Alternative narratives – the long history of Chinese migration to Australia dating back to the gold rush, Australia’s own situation in the Asia-Pacific, or the benefits of increased activity in the property market to the national economy – are quickly forgotten.
Joseph Ngo is the branch manager of LJ Hooker Glen Waverley. His wife, Judy Thanh Truc, is the branch’s director. Their team, which is expanding with a new branch opening in Doncaster and another in Box Hill, is comprised entirely of bilingual staff. Thanh Truc and Ngo opened the Glen Waverly branch after noticing a gap in the provision of real estate services in suburbs with significant Chinese-speaking populations.
“Of the buyers we encounter, about 90% would be Chinese-language speakers,” said Ngo. But of the Chinese speaking buyers LJ Hooker Glen Waverley caters to, not all are foreign residents.
“At least 30% of those buyers would be from overseas, about 30% are Australian residents, and 40% would travel back and forth.”
Ngo says that of the Chinese speaking buyers his team has encountered, many are looking to purchase properties to rent out, or to redevelop.
His office has also seen its share of mysterious investors.
“We’ve had some foreign buyers who are here for maybe a week – then they disappear for three months. Even their lawyers can’t find them. Then, one or two days before settlement, they rock up and pay,” says Ngo.
Despite the occasional unpredictable buyer, Ngo says that foreign investment has been overwhelmingly positive for his branch.
“The good thing about these buyers is that they’re unconditional. They’ve got the cash to pay upfront, which is fantastic for us. A lot of them do know that they’re buying over market prices, but they want that particular land, or location, or house number – whatever it is. And they’re willing to pay the higher the price.”
According to Australia’s foreign direct investment laws, non-residents can purchase new dwellings directly from developers. They are also able to purchase single blocks of vacant land to build a new home, so long as they commence continuous construction within 24 months of receiving approval. The same conditions apply to buying a block for the development of multiple residences. They cannot purchase a second-hand or established property unless it is uninhabitable and they intend to redevelop.
Temporary residents are able to purchase established residences, so long as they live in the property for the duration of their ownership and don’t rent any part of it out.
Of course, there are ways around this. It’s unclear who exactly is responsible for checking a buyer’s citizenship status when a property is purchased. And with many foreign investors with family members living in Australia it isn’t difficult to park a property under a relative’s name. But according to Esther Yong, the director of ACProperty.com.au, an Australian Chinese-language property listings site, the foreign investors she’s encountered are meticulous about obeying Australia’s regulations.
“We get a lot of calls asking about regulations. They ask a lot of questions and they call the agent to double check, then us again,” said Yong.
But Yong says that there is no single type of buyer that visits the website, which was launched 12 months ago.
“Our main intention was to be a local Chinese website, and our target market is local Chinese speakers,” said Yong. She identifies three main groups in ACProperty’s audience.
“Most are parents, wanting to buy something for their children while they study. Their kid might be starting at Melbourne Uni (sic) and they want to buy around the area. Or maybe their kid is two years old and they’re looking 10 years ahead, trying to get into a good school zone.
“The second type: family migrants. They’re ready to move over, their visa is on the way, with that they’re looking for a family home, mostly in the suburbs. That’s when you hear people asking about the Chinese community in the suburb.”
While suburbs with established populations of people of Chinese descent are popular on Yong’s website, which currently lists properties in Melbourne, Sydney and Queensland, family migrants are beginning to consider neighbourhoods that haven’t been marketed to foreign buyers, like Melbourne’s northern suburbs.
“We’ve noticed that suburbs like <a href="/news">Preston</a> and <a href="/news">Reservoir</a> weren’t very attractive places for buyers - but over a while, buyers tend to notice those areas. They’re quite near the city and they’re not hard to get to,” says Yong.
“Sometimes they call and ask us, ‘but why is it that <a href="/news">Doncaster</a> is more popular? The houses look the same, and they’re the same distance from the city.’”
“The third type is pure investors. They don’t really care about what they’re buying; they just want to move their money to Australia, because it’s a safe investment. They might want two properties in Brisbane, one in Adelaide, and one in Melbourne. They’re after a variety of property.”
Pure investors, says Yong, are motivated by the perceived stability of the Australian economy and the rising price of property in big Chinese cities like Shanghai.
“Some sell their properties in Shanghai and buy here. There are a lot of rules and regulations that have been introduced in the last year that are making these people move their money out of China. But contrary to reports of reckless spending, Yong says that the buyers she encounters are considered and do their research on Australia before jumping into the market.
"Late last year, we were at an expo in China, in a second-tier [smaller] city," Yong says. "There were about a group of 10 people we were speaking to. Then one asked me if the trains were running at a new station in the Western suburbs - and I had no idea!"
It's hard to deny that demand for Australian property from Chinese speaking investors is up. But instead of  reporting on "frenzied" buyers and comparing Chinese speaking investors to "bulls in a China shop", the media should try a diffeArent story.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
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