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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<img src="/images/stories/2014/01/30/robina-jan-30-brekaout.jpg" width="470" height="264" alt="robina-jan-30-brekaout">
Construction began earlier this month at the Robina CityVillage project in Queensland. Condev Construction has been appointed to build the first two stages of the $200 million development, comprising 65 of the total 130 terrace homes. The entire development, situated on a four-hectare lakefront site, will be built in four stages.
The second stage of terraces is currently selling, with prices beginning at $449,000. Terraces are designed with open plan interiors, with stacking doors opening to covered outdoor entertaining areas. Stage one terraces have sold out.
The first two stages of the CityVillage project expected to employ around 800 workers across 50 sub-contractors over the next eight months. According to Condev Construction director Steve Marais (pictured below), the company is working to keep pace with the momentum set by sales.
<img src="/images/stories/2014/01/30/robina-jan-30-one.jpg" width="470" height="286" alt="robina-jan-30-one">
“We have an ambitious target to complete the project’s first stage in 20 weeks,” said Maias.
Condev previously completed the Robina Group’s $40 million Paddington Terraces development.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
 
 
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jrichardson-uRX5hFdKfN

Construction begins on Robina's CityVillage terrace home development

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I often get asked whether you can make some equity in a single house build or a house and land package. It’s a good question and the answer is yes...and no.
Typically a dual occupancy development where two dwellings are built on one lot can create some pretty good equity. It’s fairly simple to understand that if you take one piece of land and put two dwellings on it, each dwelling is basically benefiting from half the cost of the land and this is where a lot of the equity is created. The economies of scale, building two dwellings at once, also contributes.
Lately I started studying some suburbs of the Hunter Region in NSW, where Property Bloom manages developments, for our clients that we would not normally target for dual occupancies or medium density development. This is mainly because there are usually covenants on the land in these new estates, so this type of development is not permissible. I watched the sales on the houses at the premium end and was amazed at some of the results. In some of these suburbs we were seeing house sales exceeding the median price for the local government area (LGA) by around $150-$200,000.
For a single house, the land price may be lower than that of a dual occupancy site, as you don’t need such a large block (although a larger block will add to the end value in some locations so should be considered). You must find a location where homes are selling at a premium and there is good demand. Then you find a way to build them as cost effectively as possible to create your margin.
You need to be very clever with your design, fittings, decoration and landscaping – all are areas that you can cost effectively add value with.
The key to this strategy working is also location. Find land within a short distance to strong sales references and build something similar. You then have a good idea of what your house should be worth and you can work back from there as you get your construction quotes in.
It’s all in the numbers; if you get the land at a good price, in a good location, with strong comparable sales, and the build cost is right, then there is equity to be created. It won’t work in all areas but it is working in the Hunter and that’s why we’ve just launched our new single house build strategy. This strategy allows clients on a budget to dip their toe into development on a single house build and reap some of the rewards of a larger development project.
For around the same cost of a one bedroom unit in Sydney you can build a four bedroom house in the Hunter. Is that worth thinking about?
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
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jochivers-wq5Bp59R5a

Can you create equity on a single house build? Well yes... and no

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The publication this week by SQM Research of vacancy rate trends in mining-related cities and towns is a timely reminder to investors to check out supply-demand issues before buying.  
The figures show that, in many important regional locations around Australia, oversupply is the issue, rather than the much touted “chronic housing shortage crisis” – just as it is for inner city unit markets in several capital cities.  
Many investors consider demand factors, such as population growth, but forget to check out the level of supply in the market.  
It’s difficult to imagine a place with more compelling demand factors than <a href="/news">Gladstone</a>, with massive levels of infrastructure development under way. Yet the Central Queensland city has a vacancy rate of 11%, according to Louis Christopher’s figures. Developers seeking to profit from the LNG boom went overboard and the Gladstone market has been sinking for the past 12-18 months.  
Nearby <a href="/news">Mackay</a> has also suffered from an upsurge in new developer product and now has a vacancy rate around 7%.  
Some markets have had a double whammy, with an increase in supply coinciding with a drop in demand. There is particularly true of Queensland coal mining towns, such as <a href="/news">Dysart</a>, <a href="/news">Moranbah</a>, <a href="/news">Blackwater</a>, Clermont and <a href="/news">Capella</a>.  
Moranbah once ranked as the growth star of Australian real estate. In early 2012, its long-term capital growth rate (average annual growth in its median house price over the previous 10 years) was above 33% and its median weekly rent was $1,200. Before the end of 2012 its median house price would reach $750,000 – but, by then, rents were already falling and prices were soon to follow.  
The demise of the Moranbah market was as spectacular as its rise. In the past 12 months its median price has dropped 42% to $435,000 and the median rent is now $520 per week. Median yields, which were 12% not so long ago, are now around 5%.  
All manner of woes hit Moranbah. BHP and its partners refused to pay the astronomical rents being asked by investor landlords. Existing projects were downsized and new projects were deferred or progressed with 100% fly-in, fly-out workforces. And new dwelling supply hit the market.  
Similar events have happened in other mining-related markets across Australia. In <a href="/news">Roxby Downs</a> in South Australia, where many investors bought in anticipation of a $30 billion expansion of the Olympic Dam mine, the vacancy rate has risen to 10% in the wake of BHP’s decision to defer the project.  
Investors need to be aware of these issues because marketing companies continue to pump out promotional material for new developer product at high prices in mining-related markets that are in sharp decline.  
One I received this week was touting two-bedroom units in <a href="/news">Port Hedland</a> for $715,000, claiming they would rent for $1,400 per week, provide a 10.2% return and earn up to $22,000 per year in profit - thereby providing the “perfect investment opportunity” for first-time investors.  
The promo failed to mention that Port Hedland’s vacancy rate is now above 6%, that prices have dropped by up to 10% in the past 12 months and typical yields are now around 7% (and falling).  
Similar propaganda comes in every week for highly-priced new product in <a href="/news">Karratha</a> and <a href="/news">Newman</a> (where the median price dropped from $850,000 to $450,000 in six months).  
This is life in mining-impacted property markets. Many of the locations I’ve mentioned will recover, once the resources sector has finished the current phase of cost-cutting.  
One tactic commonly being used is to shut down a mining project, sack all staff – and then, perhaps six months later, re-hire at lower pay rates and re-start the mining project. One town impacted by that is <a href="/news">Collinsville</a> in Queensland where, according to SQM Research data, the vacancy rate is currently 36%.  
Moranbah, Newman and others will recover as there are big projects in advanced stages of planning. But in the short-term they are dangerous places to buy. Even investors who are happy to have some risk in their portfolio would be wise to wait and watch until the current phase is done and dusted.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">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://www.twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
 
 
 
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terryryder-YECXbqmri2

Mining town vacancy rates mean that it's wise to wait and watch

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Apartments are now available to purchase as construction commences at the Hing Loong development in Sydney’s Chinatown.
The 17 storey development will be situated on the pedestrian-only Dixon Street, and is set to be Dixon Street Plaza’s first residential tower. Hing Loong will have 47 one, two and three bedroom apartments, each with European stainless-steel appliances, stone kitchen benches and timber flooring. It will also include a three bedroom penthouse apartment which will have access to rooftop decks, barbecue facilities and a 'Dragon Pavilion' which is set over the building.
Set on a corner plot, the building’s exterior will feature large open screens with a “cracked” effect. Residents will live within walking distance of Sydney’s new Westfield complex.
Constructed by Chinese developer War Hing, the building was designed by Allen Jack + Cottier. The design firm has worked on residential and commercial projects in both Sydney and Beijing.
Apartments are available from this week. Prices begin at $690,000.
Back in 2012, The Quay development, a 270-apartment complex, was seeing intense interest as <a href="https://www.propertyobserver.com.au/developments/the-quay-development-on-long-dormant-sydney-chinatown-site-sells-well-in-first-weekend/2012042954320" target="_blank">one of the last of 20 'black holes' in the area</a>.
Sydney's Chinatown is located in <a href="/news">Haymarket</a>, between Central Station and Darling Harbour. <a href="https://www.propertyobserver.com.au/news/lend-lease-haymarket-redevelopment-gets-green-light/2013121066864" target="_blank">Lend Lease has also been active in the area</a> recently, with the new Sydney International Convention, Exhibition and Entertainment Precinct attracting interest.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">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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Construction begins at Sydney Chinatown development Hing Loong

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If they were handing out awards for market performance in 2013, the Sydney municipality of Canterbury would be a leading contender.
Most suburbs in the City of Canterbury delivered double-digit growth, both in their median house prices and their median unit prices.
<a href="/news"> Campsie</a> recorded an 11% rise in its median hosue price ($730,000) and a 15% rise in its median price for apartments ($430,000, based on 260 sales in 12 months, making it the leading volume market in the city).
<a href="/news"> Lakemba</a>, another popular market because of its affordability and its above-average rental returns, recorded 205 apartment sales at a median price of $295,000, up 11%. The suburb’s median house price ($550,000) also grew 11% during the year, a <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/from-mosques-to-mcdonalds-there-s-no-evidence-of-a-price-impact/2014011567206" target="_blank">solid performance despite the highly-visible presence of one of Australia’s largest mosques</a> – which, according to a widely-held view amongst the hysterical, should be a barrier to capital growth.
The median yield for Lakemba apartments, according to Australian Property Monitors figures, is 6.3%. Nearby <a href="/news">Wiley Park</a>, another popular suburb for affordable apartments (median price $300,000), has a median yields for units of 6.4%, well above the Sydney average.
The best growth in this precinct was recorded by <a href="/news">Narwee</a>, where the median house price grew 17% to $700,000; <a href="/news">Canterbury</a>, where the median house price rose 16% to $770,000; and <a href="/news">Croydon</a>, which lifted its median unit price 15% to $520,000.
Other suburbs with strong growth in the City of Canterbury include <a href="/news">Earlwood</a>, <a href="/news">Hurlstone Park</a>, <a href="/news">Wiley Park</a> and <a href="/news">Roselands</a>.
This precinct is clearly popular for its relatively affordable apartments, with annual unit sales (902) almost matching house sales (1,005).
Units are likely to overtake houses, with dwelling approvals in recent years being dominated by new apartment projects. Approvals rose from 194 in FY2011 to 424 in FY2012 and 655 in FY2013, most of them for apartments.
This area is another example of the “<a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/australian-capital-territory/stand-by-for-australias-town-planning-revolution-terry-ryder/2014010667091" target="_blank">town planning revolution</a>” sweeping capital city Australia. Changes to the City of Canterbury Local Environment Plan, which came into effect this month, allow more high-density residential development in areas that were traditionally industrial precincts. Developers have moved in quickly, creating considerable building activity.
A high level of urban renewal activity is happening in the municipality, with a number of new apartment developments focused in particular on Cooks River.
It’s the latest episode in the evolution of one of Sydney’s most colourful areas, where half of residents were born overseas and the cuisine on offer includes Lebanese, Moroccan, Indian, Chinese, Japanese, Pakistani, Indonesian, Korean and Sydney’s only Cocos and Christmas Island restaurant.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">hotspotting.com.au</a> and you can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank" style="font-size: 14px;">Twitter</a>.
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The City of Canterbury a leading contender for best performer of 2013

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Australia Day traditionally flags the end of the real estate ‘vacation’ period, with the long weekend being the last chance most agents have to take a breather before the auctions begin and weekly clearance rates once again come under intense scrutiny.
Most predictions for 2015 conclude that the recent upward trajectory will continue – with particular focus on some of our largest capital cities: Sydney, Melbourne and Perth (with Sydney and Perth already past their previous peaks in non-inflationary terms).
The pace of growth will differ for each capital with a correction expected in 2015 – despite the talk of a sooner than expected rise in rates. The momentum that has built up throughout 2013 has come primarily from investors, largely driven by local speculation.
In Sydney, where supply has been hampered by stringent planning requirements allowing larger developers with a greater financial capacity to hold the upperhand, the shortage of stock to cater to the needs of a market share of over 50% investors, has resulted in a spike in prices. This has diverged considerably from other states and continues to drive the herd mentality.
Louis Christopher, managing director of SQM Research, suggests Sydney will have its strongest start to the year in more than 15 years. Even assuming the prediction is too bullish, it’s unlikely to be far from the mark.
The extra boom of apartment supply will assist in cooling demand and boosting the number of rental dwellings, but it will take more than one interest rate hike before we see the evidence translate into lower median values, hence why the run will last the duration.
Whether you celebrate or commiserate news of a continued increase in house prices will obviously depend on circumstance – with investors benefitting most. However, the higher entry cost will continue to impede first time buyers and low-income earners. With no immediate solution by way of structural reform to housing policy, the debate won’t move far from headlines.
I made clear in my <a href="/news">column last week</a>, why we have an affordability problem and how that translates across the different demographics.
In our most populous capital cities, house prices have gone from three times median income to nine times median income. The impact on low-income families – in particular those renting, or teetering on the edge of ownership due to divorce or job loss - is particularly disturbing. In Melbourne alone, from <a href="https://business.curtin.edu.au/local/docs/ahrc13/Conceptualising-housing-affordability-in-Melbourne.pdf" target="_blank">1991 to 2011</a>, metropolitan housing CPI rose by 50%, compared to 188% for rents across the LGA.
The swell of concern coming from the ground up is the best chance we have to push significant reform forward. It’s encouraging to see results from a recent Ipos poll, conclude that most Australian’s disagree that rising prices are a <a href="https://www.news.com.au/finance/money/most-australians-disagree-rising-house-prices-are-a-good-thing/story-e6frfmci-1226799251099" target="_blank">‘good thing.’</a>
Notwithstanding, a huge portion of private debt for the appropriation of business and commerce is secured against residential real estate. Its Australia’s largest domestic asset class with an estimated aggregated value of over $4 trillion, pinned to a banking sector, which has the highest exposure to residential mortgages in the world.
The sensitivity to maintain high prices is evident not only in the NIMBY-style practices that protest at all attempts to either increase density or assist development, but also in the inability of  politicians to move ahead with structural reform to housing policy.
Consequently, governments tend to treat affordability issues reactively rather than proactively.  Words always mean more than the actions.
Demand side policies are favoured and when supply is released it’s done in such a way that it feeds a monopolist culture – designed to maximise profit over the delivery of land at ‘affordable’ prices.
To illustrate the point – ‘economics 101’ suggests the most effective way to reduce prices is to simply increase supply. In Melbourne last week, Planning Minister Matthew Guy anno0unced that the city has “decades worth of land”; more than “400,000 potential house lots in growth areas”, of which five new precinct structure plans have been approved for development (amounting to 19,000 ‘potential’ bocks) and a “potential” 180,000 apartment blocks (more than enough keep all our offshore investors happy).
Clearly – we’ve got supply in spades!
Furthermore, broadly speaking, population growth in the outer suburbs of Greater Melbourne, predominantly in the newer greenfield developments, continues to be faster, and larger, than anywhere else in the greater Melbourne districts. So demand, in theory, should not be lacking.
But what Mr Guy fails to mention, is that in a five-year period from 2006 to 2010 the median land price in outer growth area suburbs jumped from $136,000 to $212,750, a difference of $76,750, according to Oliver Hume Real Estate Group. The typical starting price for a house and land package on a compact 450 square metre block of land is now transacting for a little over $400,000. Where is this cheap supply?
Of course, it all comes down to the development process. As soon as the urban boundary was implemented speculation began, existing landowners were able demand a premium for land now potentially available for residential purposes. Of those who decided to cash in, hectares were duly auctioned off to the highest bidder – resulting in a massive inflationary boom in values.
Precinct structure plans must be finalised before construction can commence – a process of which takes two to three years.
Funds for the provision of infrastructure - arterial roads, kindergartens, child health centres and so forth, are passed onto the buyer (initially the developer, who simply factors it into the final cost).
However, there is no timetable for the construction of this infrastructure. Councils can wait years for the funds to arrive because they are usually only payable upon subdivision. Notably land within PSPs can be held by landowners who have little incentive to bring it to market unless it’s financially beneficial to do so. The result is home owners pay for infrastructure which they may never receive.
Any areas of land a developer unwittingly acquires which is subject to ‘biodiversity conservation’ must be set aside.  10% of their land must be donated for ‘community open space’. Add to this GST, along with sales and marketing costs and you begin to get the idea of why supply does not immediately equate to lower prices.
Developers, with a desire to maximise profits, time their releases carefully. In other words, the state has auctioned away any chance of a plentiful supply of cheap fringe dwellings – and in light of the evidence Mr Guy is unable to claim otherwise.
Whilst inner city development may assist renters, the extent to which it does so is debatable. Investors seem undeterred by the higher vacancy rates in Melbourne, which have hovered around 3% for the past 12 months. We can see from work undertaken by Philip Soos at <a href="https://www.prosper.org.au/" target="_blank">‘Prosper Australia’</a> last year, that a percentage of newer units are allowed to sit vacant for much of the year – unclear whether they are being used for speculation, or as temporary vacation homes.
Building approvals data for apartments do not indicate commencement - the process of approval, to release (off plan pre-sales), and finally completion, takes a number of years.
<a href="https://www.charterkc.com.au/" target="_blank">Charter Keck Cramer</a> track each project from start to finish – and estimated back in July 2013 that 39,155 apartments will be added to the stock in Melbourne during the three year period of 2013 to 2015 (not including those for which subsequent planning approval has been granted).
To maximise yield and meet financial requirements, most apartments are small one and two bedroom dwellings (no more than 70 square metres in size). Unsurprisingly, they offer little attraction to the vast majority of local home buyers – being far more apt to meet the needs of student renters.
All in all, it’s an appalling state of affairs.
Australia is now entering its 23rd year of continuous GDP growth – the history of which is outlined briefly in HSBC’s recently released global research paper <a href="https://www.macrobusiness.com.au/wp-content/uploads/2014/01/2014.01.24-Australia-in-2014-Still-in-second-gear-PUBLIC-1.pdf">“Still in second gear”</a>. It should come as no surprise that land is always the eventual beneficiary from the wealth of a burgeoning economy.
As productivity increases, jobs are created, the population grows, infrastructure is built, areas gentrify, land values increase, and owners benefit. The uplift in values finances additional development and so the speculative process continues.
From the trough of 1996 to the peak in 2010 land values have roughly <a href="https://www.macrobusiness.com.au/2013/02/the-history-of-australian-property-values/" target="_blank">doubled</a> as a percentage of GDP – and the policies we have in place simply fuel the cycle.
In countries that have promoted home ownership both a means of ‘saving’ for retirement and a valuable asset to leverage against to accumulate additional assets – the eventual consequence is always the same. Tax strategies and inelastic supply side policies have encouraged speculation in rising land values with both the monopoly and restriction of the resource stagnating effective and affordable supply.
Until any sharp ‘correction’ is experienced (and eventually it will be), the advantage lies with those who hold the appreciating assets above those who don’t – particularly if acquisition was early on in the cycle as suburbs initially gentrified.
Whilst gains over the period wax and wane, spurred on by low rates or intermittent grants, the party can only continue whilst there is consistent demand at the entry level. This is why so much attention is focused on mortgage ‘serviceability’ rates, rather than the overall level of ‘affordability’ by way of calculating the gross amount borrowed.
It is possible to create a stable housing market that doesn’t subsist on ever rising prices. However, it can only be achieved by significant tax reform moving toward a broad based land tax - as was advocated in the Henry Tax Review - coupled with structural changes to the way we manage supply.
Without such reform, the social cost to our country and welfare system as a whole, will only worsen.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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catherinecashmore-6LXia3pPQj

More supply does not immediately equate to lower prices

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About 120 Gold Coast properties will be taken to auction next week, in what is widely regarded as Australia’s largest in-room auction showcase.
The one-day event by Ray White Surfers Paradise Group will open at 11am on January 27 with a market report presentation by auctioneer Andrew Bell, the group’s CEO. Dubbed “The Event”, it will be the 21st annual real estate auction showcase for the group.
<a href="https://www.propertyobserver.com.au/news/gold-coast-seeing-the-best-real-estate-market-conditions-in-more-than-eight-years/2013120566642" target="_blank">The Event will be hosted at the Gold Coast Turf Club in Bundall</a>. A prestige auction event will also be held by the group on Thursday January 30.
Property Observer readers will be able to read about all the highlights next week.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Gold Coast to host Australia’s biggest real estate auction from Monday

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With Australia Day over the silly season will soon be behind us, although for much of the real estate market the silly season in 2013 arrived late, and for many, may have been short lived.  For the residential property market the second half of 2013 was remarkable and hectic, in particular for Sydney. So now as we move into 2014 it’s a good time to highlight some of the key factors that might influence conditions over the next 12 months, for buyers, developers and marketers alike.
But before we leave the silly season completely behind, I was interested to research where the idea first came from. I found that, according to the Oxford English Dictionary, references date back as far as 1861, so this is by no means a new idea. I also found that there is great deal of information published about how to both best enjoy and also ways to avoid the pitfalls of the season. In some round about way this made me think about all of the advice that is offered to real estate buyers.
When looking at the silly season it’s a mix of suggestions like considering alternatives (to alcohol), never drinking on an empty stomach, quench your thirst thus discouraging you from over doing it with the champers and beer. Then you could take a comprehensive B vitamin and antioxidant formula, drink a glass of water between drinks and before going to bed and aim to be in bed before 12am. Then some final suggestions include the use of gentle exercise each day such as walking that will help boost your mood and burn some of those extra kilojoules. And if the season is really getting the best of you, well you could always seek the aid of a naturopath or other health professional for help to manage the demands of your silly season. All of which are strategies that can help you be at your best.
A good plan to avoid any headaches
What these somewhat colourful and quaint ideas offered me was I felt the ideal preamble to a look at the many influences that will impact the residential market in 2014. For example it will pay to stay alter to the varied alternatives that different markets offer, it will also pay dividends if buyers do their fair share of footwork and planning and for sure it will be very wise to get the best support and market information available.
There can be unforeseen consequence of the silly season for some people. Most are easy to deal with, but as we move on from a very positive year in 2013 the market across 2014 is going to be influenced by a wide range of circumstances, and as we often see some factors, like supply will be localised while others, like taxation and planning policy will be as a result of structural change.
Now and next week I would like to highlight some of the central issues and then also look at some marketing trends. However from the start we need to acknowledge that many of the key points will all be connected to a few central issues. These will include house prices, the fate of the Australian dollar, the continued adjustment away from an economy powered by the mining boom and changes to employment and how this also relates to demographic shifts. While in NSW proposed changes to planning regulations and strata laws are set to deliver localised, and some would argue unwelcome pressures on the local apartment market.
Higher house prices here to stay
House prices have always driven a great deal of news, comment and chatter – this will without any doubt continue and amplify. However the headlines can only reflect the reality that market settings for the next few years, are now more or less predictable and they cannot be easily changed. In 2014 we will continue to work with the fact that the dynamics of the housing market are very complex and in the absence of any sort of big policy shift by government no important or far reaching changes can be anticipated.
Where the housing market is concerned either directly or indirectly, current governments at both state and federal level are not given to bold policy shifts. Policies like the floating of the dollar in 1983 or the introduction of capital gains and the fringe benefits tax in 1985 are possible, but we will have to wait until May this year to see if the current tax review results in any big policy shifts.
Over the last six months, as auction clearance rates broke many previous records, house prices were in many areas only now recovering from the impact of the GFC. But clearly price increases were impressive. Over the previous decade the average house price increased by 2.3% while last year Sydney prices grew by 11.4%, Perth 8.6%, Melbourne 6.8% and Brisbane 4.1%. Key factors driving prices were low interest rates, continued lagging in the supply of new homes, apartments and land and a big increase in demand from off-shore buyers, that in some markets like Sydney and Melbourne was a major factor. Now as we look at 2014 these factors are set to continue, but we need to keep an eye on how related issues like the exchange rate and employment could impact these areas.
We know that most Australians are always happier if the value of their home increases, and this boosts general confidence – which was a factor in 2013, but it is also true that lost jobs do weigh heavily on sentiment.
There is of course the fate of first home buyers to consider when we reflect upon the impact of higher house prices. This is an emotional issue, and may currently be somewhat under the radar of the general market, but with only 12.3% of total home loans going to FHBs in November, an historic low, the fate of the FHB may soon move from an economic to a wider social issue.
A key concern, not really helped by low interest rates, is the ability to save the 10% deposit most people aim for when entering the market, in 2014 we may see more pressure for more FHB assistance. While the deposit gap for some may come via help from Baby Boomer parents, who are themselves trading down, this is only a very limited solution for the lucky few.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
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pchittenden-eLqUUC8TWW

The key market factors for 2014

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The Crown Group’s Paramatta apartment complex has sold 277 apartments since its launch in mid-2012. Upon completion in 2016, the $309 million residential development will contain 519 luxury apartments.
A variety of one, two and three bedroom apartments are available, with executive studios and penthouses. Residences in the V by Crown complex will feature ceiling-to-floor windows, stone bench tops and waterproof balconies.
The 29-storey building will also hold a pool, a gymnasium, conference facilities, a music room, a theatrette and a library, in addition to gardens and a gaming room.
<img src="/images/stories/2014/01/23/v-by-crown-jan-23-breakout.jpg" alt="v-by-crown-jan-23-breakout" height="264" width="470">
V by Crown’s <a target="_blank" href="/news">Paramatta</a> location caters to the increasing demand for high quality residences close to Sydney’s employment hubs, said Crown sales manager Anthony Falas. According to the Crown Group, more than 90,000 workers travel to Parramatta each day, and the district has a thriving nightlife.
“Only last year Parramatta was named the country’s fastest growing night-time economy,” Falas said. “It’s a recipe for momentum.”
Prices for apartments in the V by Crown development start from $418,000.
jrichardson@propertyobserver.com.au
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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V by Crown development reaches $150 million in sales

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Buyer's agents, or buyer's advocates as they are commonly known in Victoria, are increasingly a consideration for many home buyers and investors wanting to make better financial choices. However, different buyer's agents have different skills and it's worth knowing what it is you need before signing up and paying for their services.
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Finding a location
If you're a home buyer, it's likely you already have locations in mind where you are happy to live. If you're a straightforward investor, perhaps not so much. Let's firstly look at the role of a buyer's agent when it comes to finding you a location.
Many buyer's agents now take on the role of location researchers, or 'hotspot' experts, where they trawl the country or select locations to find growth spots for their clients.
For some investors, outsourcing this part of the process may sound like a dream come true. If you're in this category, and you're willing to buy in any state or territory, then you'll likely be looking towards a national agency, or an operator with access to data on every suburb available. You'll want to ensure they have a close understanding of the values and laws in these areas.
If, however, you are only comfortable buying within a certain state, or perhaps even a certain city or area you have picked as ripe for growth yourself, then it is more likely you'll want to look towards a specific location, or 'local', expert. Local experts are more likely to know which blocks can be developed and to be well versed on the specific good and bad streets of a suburb, as well as properties with difficult neighbours. This qualitative information isn't necessarily going to be available at the hands of a national agent.
Negotiating
If you’ve already found a property or are clear on what you want, then you might want to skip straight to someone who is an expert at settlement and negotiating. Many buyer’s agents were previously real estate agents, so they are well equipped with the confidence and knowledge to negotiate your sale. If you are likely to be sending the buyer’s agent into auction for you, make sure you see them in action first. Ask for solid examples of where they have saved their clients money (you’ll be wanting to see that their fee is saved by the money you save on your purchase).
You'll also want to ask them for statistics from their business, for instance - what is the average percentage by which they negotiate property down?
The style of the buyer's agent
Some buyer's agents specialise in certain types of property. Perhaps the properties are prestige, or under $300,000. Ensure your property and buying style, such as investor or home buyer, aligns with the buyer’s agency you are considering. If they are mainly buying inner city units, you may want to reconsider asking them to help you find and buy a country homestead.
Some buyer's agents are lone operators, while others have significantly sized staff. Ensure you know what will make you most comfortable - personalised service, a more corporate feel, or somewhere inbetween? Ensure you don't judge an operation by its number of staff, however it's worth asking who you would be dealing with throughout the process.
The Real Estate Buyer's Association of Australia recommends that you ask a number of questions, including:
<ol>
<li>How experienced is the buyers’ agent?</li>
<li>What qualifications do they have?</li>
<li>What are their most recent purchases?</li>
<li>Can they provide recent client testimonials/references?</li>
<li>Do they own property themselves?</li>
<li>Do they have the contacts to find you the property that best suits your criteria?</li>
</ol>
Ensure you aware of their background, education and how they got into the position they are in now. Treat your conversations as an informal job interview - afterall, you are hiring them for a particular purpose.
Their fee structure
Find out how much they will cost you upfront and ask yourself whether their services are worth that amount to you. If they are charging a percentage of the final property cost, ask them how they have an interest in keeping the property price as low as possible when they get paid far more lucratively for more expensive sales.
Ask about kickbacks or commissions being received, particularly where new and off the plan sales are concerned. Try and ensure their independence as much as possible.
You'll want to speak to a number of buyer's agents before you make up your mind, so keep notes as to how much each will cost you. Don't be afraid to ask them to justify their price and how it is worth it for your property purchase. Fees can vary dramatically, from a few thousand dollars up to around $25,000 in some instances.
Their network
One of the often undiscussed benefits of a buyer's agent is their access to other professionals in the space. Whether it's real estate agents, building and pest inspectors or similar, you'll want to know that they have good relationships with the necessary experts. Responding on Twitter, one reader mentioned that it is crucial that the buyer's agent walks through the home with the building and pest inspector, as well as has a good look at the nooks and crannies. That is, they should be able to have a look in the attic and know what they're looking for, as much as they should be able to look at a contract and know what is within it.
Bells and whistles
Some buyer’s agencies also offer finance, development assistance, insurances, property management and similar in what is often described as a “one stop shop” approach. Not every investor or home buyer will want all their eggs in one basket, and it is always wise to consider all of the options available to you.
Others also fall onto the line of creating strategies and plans for your investments. If you are looking to build a portfolio, then it may make sense to consider speaking with a buyer's agent who understands the importance of your portfolio and may assist in this endeavour. Some provide goal-setting, mentoring and similar services, and where these suit some investors, others will not be as keen. Be clear on the role of the buyer's agent to you and the service you are looking for.
Many will <a href="https://www.propertyobserver.com.au/buyers-agents/buyers-agents-are-particularly-beneficial-for-busy-people-david-airey" target="_blank">opt for a buyer’s agent if they believe it will save them time and stress</a>.
And finally, it may come down to checking their fees, licensing, insurances and how other people have found their services.
It can be hard to protect yourself, but always ensure you are dealing with a licensed real estate agent (buyer’s agents need this licence too). Search online for what is being said about them, and always double check references. A referral can often hold far more power than a slick brochure.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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