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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Hi Margaret,  
I need your help. Currently I have an old house on a piece of land in Longanlea. I would like to look into subdiving the property. Where do I start?
Appreciate your help and knowledge.  
Thanks  and kind regards,
Stacey
 
Hi Stacey,
Many investors write to me eager to begin a subdivision, as they see it as the chance to make quick profits, easily.  Sometimes it is, but more often than not subdividing ends up being costly, time consuming and very stressful, with the profits made disappointing and sometimes not commensurate with the effort which has been made.  
Before you subdivide, it is critical that you establish the likelihood of being able to make a considerable profit from the exercise, both in terms of the final value of the subdivided property and the improved rental yield.  If you are able to subdivide a property while keeping the existing property (with or without a renovation) then this will always be preferable.  In this case you can essentially end up with a free piece of land, which, if developed, will more than likely be worth more than it was before the subdivision.  While you subdivide you can at least be earning  rental yield from the existing property.
On the other hand, if subdivision requires demolition of the existing property, you really must do your numbers to establish if this is a worthwhile exercise.  Demolition can run to tens of thousands of dollars, and along with the costs of subdivision, which in itself can be up to $50,000, you should be sure that the resulting two blocks, considering any loss of value once they no longer have a dwelling on them (or the improved value once you spend money on erecting two new dwellings) is worth it. 
When establishing this, do be sure to take into account the accruing interest on any loan on the property (which you must pay without the benefit of rental income), and the interest on any loan you need to create the subdivision and/or build new dwellings, all which add to your cost base.  
If you have done the exercise and still feel that there is a chance for profit, the next step would be to consult with a local town planner.  Town planners can guide you and help to establish if the proposed subdivision falls within the council’s development application (DA) requirements.  If it does not, they can also advise what they believe to be the chances that you can be granted an approval under an exemption of some sort, which can happen.  The costs of a town planner, which can be anything from $2,000 - $5,000 should be considered in your subdivision costs.  
The town planner should be able to arrange for you any surveys, engineer’s drawings for driveways, drainage and easements and even prepare the submission for you.  Remember that at this stage you must pay all of these costs prior to even knowing if the subdivision will be approved.  Some councils have good pre- DA processes in place designed to minimise costs and save you submitting a DA application which they would never approve in the first place, while others don’t.  I personally have spent $10,000 in an area in Queensland for a DA which is now dead in the water due to a constantly changing opinion about what can and cannot be done, so there is a very real possibility that you will lose money unless you are sure that your subdivision is straight forward.  
Your DA approval will come with a list of requirements which must be attended before the final subdivision is cleared (such as access-way construction, and any sewer and drainage requirements) and, once done, your subdivision is complete.  Depending upon the council and their policy, this can take three months or it can take 12 months – there seems to be no standard here, and however long it takes you’ll have money on the table not getting a return and essentially adding to your costs.
Regards,
Margaret
 
<hr>
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News.
She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
 
 
     
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mlomas-KC9MUPZ6Ca

I want to subdivide, but where do I start?

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If you live or work in inner Sydney, you'll only be too aware that the city is now well into a dwelling construction boom.
In particular, the inner city is seeing the building a new apartments aplenty.
The Reserve Bank will certainly be well pleased to see this, for part of their grand plan was for low interest rates to stimulate dwelling construction as the mining investment boom passes its peak and tails off.
And after years of weak supply, Sydney certainly needs the dwellings: the city's population is increasing by more than 60,000 persons per annum.
In the inner city and in parts of the inner south, at times it almost feels as though every available block is under construction.
This will lead, no doubt, to a spate of articles citing a forthcoming oversupply and a "major shake-out" coming.
And in certain sectors of the market, this may indeed be true.
In the central business district (CBD), Sydney tallest residential tower will soon appear. At Barangaroo, a whole new suburb is in the process of springing out of the ground, albeit with much of the space allocated for commercial ventures and parkland, in addition to a number of luxury apartments.
In the city's inner south, a huge amount of development is underway.
If you are a home buyer looking to stay put for a reasonably long period of time, then these new developments may suit you fine.
However, from an investors point of view, there is far better value and potential capital growth to be found elsewhere, in established stock within certain suburbs located a little way from the city.
For some there may be a time and a place for buying expensive apartments 'off-the-plan', but now is probably not that time.
Instead investors should look towards some of the favourably-located leafy suburbs which are located within easy striking distance of the CBD, but not in the CBD itself (where there are few height restrictions on building and there exists an oversupply risk).
Look to suburbs where there is no land available for release and where tall tower blocks will not be granted development approval, thus capping the population growth.
A small amount of redevelopment in a suburb can be a good thing, for the price of new stock can underpin existing dwelling prices, and a six pack of units where a house once stood is not going to suddenly cause an oversupply in a city with a population growth as strong as that of Sydney.
Over the last few years, relatively high vacancy rates in Melbourne led a number of bearish market commentators to predict a major correction in  the city's wider housing market.
But while in certain high rise developments and suburbs prices may have stagnated, established stock in supply-constrained suburbs have defied the gloomy predictions and continued to demonstrate impressive rates of growth.
We'll likely see similar trends unfolding in Sydney. The city is not into a very strong growth cycle as I anticipated long ago, but capital growth does not continue forever.
When the next cyclical downturn arrives - be it in 2016 or 2015, or whenever - investors who hold well located stock close to the median price range in supply-constrained suburbs will be thankful. Those who own over-priced high-rise stock where vacancy rates are higher, will not.
 
<hr>
 Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
 
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
 
 
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Sydney's apartment construction boom: What does it mean for investors?

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The sales and marketing centre which is usually associated with any project is a key step in the buyer’s journey and while market conditions will always vary this is an exacting area and one that needs a major investment of time and money. To appreciate why, I want to outline what I see as the buyer’s perspective when they explore any sales centre.
A great opportunity and challenge
The importance of that ‘first impression’ a buyer experiences within a sales centre is great and there are, as might be expected things that need to be avoided.  A poor standard of presentation that is a misfit with the target, can and does lose potential sales and if unchecked will be a problem.
The buyer’s expectations today is that a visit to a display home, or apartment and sales centre will be as good as the best retail experience, or a gallery or even a good restaurant experience because they are all areas where emotions are at their highest.
It is difficult to over-stress how vital the on-site sales office and display centre is. A well-designed and importantly well-managed facility will always help to drive sales during the entire life of the project. And so in looking at the buyer’s experience we find that here is a real challenge and fantastic opportunity.
Planning is one of the most exciting and important tasks. At the start of a new apartment project or land estate we have a blank canvas and the eventual design and presentation of the sales centre will for the buyer represent the starting point for the branding of the project that is being thought-out.
For potential buyers any site is a complete mystery and almost no amount of imagination will easily bridge the gap between today’s reality and future plans, that’s the gap the sales centre must fill. For the buyer the experience has a touch of romance and a lot of emotion involved. There is an opportunity to help concentrate in the mind of the market, the thousands of hours of work that will be undertaken to deliver the project they are possibly buying into.
Reaching out to the buyer under these circumstances is the key role of the sales centre, and in many ways is the heart of the marketing effort. The centre sets the character of any project and given that the facility will be a major investment this is a big topic and an area which is always getting better.
It is important that the facility also reflects the local environment, and while a basic template can be a sensible starting point, it is essential to reflect location and to use the display to amplify the core offer of the project. By linking the display with the area’s resources the design will help build the projects brand values and awareness with potential buyers. The facility is a key three-dimensional and physical connection to the project, it is something that buyers experience, usually many times and hopefully remember. The core idea is create the experience so that it is a ‘hi-touch’ and ‘hi-tug’ environment. In very basic terms the centre needs to display as much about the project as possible that buyers can ‘touch’. The display apartment or home will always be the touch spot however, as we will explore this is simply not a matter of creating a replica, there are a number of subtle points that also need to be addressed.
The ‘hi-tug’ concentrates on the creation of an environment that will tug, as it were, at the heart of the buyers, making them want to connect with the project. Both areas are key tools to help sway a highly emotional connection to the project like a well-planned retail experience. By taking this combination approach it can be possible to trigger and leverage the key benefits and features of any project that will help make a sale.
Both elements are now well represented in design and layout options. The balance between the two will always be dictated by the location and under varied conditions the emphasis on each element may well vary. There are no rules as such, other than having constant reference to the location and the key elements of the project itself and how buyers will experience the centre, as a key point in their sales journey, be it a long or short journey.
As I have highlighted the sales and marketing centre is a big part of the buyer’s journey and possibly in today’s market where so much contact is via email, even more so.
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Be flexible
While there is a great deal of product knowledge in this area there are, to my way of thinking, no rules as such because it is important to always consider the individual market and value feedback from people who visit the facility.
And while I do accept that some aspects may be more important than others, planning should reflect individual circumstances and flexibility is always desirable. Display homes and apartments are a key touch point and we all need to consider that when planning interiors to always consider the aspirations of the target market. Do not base ideas only on your own personal considerations, and ensure that any consultants employed also work to the target, not to this or that particular trend. It is important to reflect how the display experience works to enhance the sales path, this is the core reason for the display.
The sales path interaction is important but should not be made overly complex, sometimes a bit of creative spark will make a big impression. The other big impression needs to be made by the sales team to fully engage each person, no matter how busy or how much demand there is for a project. Every buyer has taken an important step to visit and to learn more about the project.
No matter why consumers visit or what has promoted this first step it is the focus of the marketing and should not be wasted. After all they may never return, and I have seen this happen where hurried or a less than interest response can turn people away.
Key factors to engage buyers
Whenever possible the display facilities are best located at the entrance to an estate or in immediate proximity to an apartment project. While remote facilities are used they will always have some disadvantages, be somewhat of a letdown for buyers.
In some land estates, the facility can be placed in the centre of a project, so buyers get a more universal view of the estate and so making it easier to present the land options. However as the estate is developed access to the sales centre through the estate itself may not always be easy for someone who is not familiar with the location and visitors might encounter construction movement and could annoy residents.
There is also the reality that not all estates will give the most positive impression while development is taking place and homes are being built.  The place can appear a mess and so deflate expectations, there are several examples of this in Sydney where a bunch of smaller estates lack the impression that one large community will make.
It is difficult to over-state the major aim for any centre is to control in a positive way how buyers are exposed to a project. The sales centre is the key point of impact with buyers, the project’s shop front. The centre may not be the single reason for the success or otherwise of a project, but it is a big issue, a central factor and apart from the actual location and actual product itself is the most important element in project marketing.
Having talked about this topic in some detail, is it ever possible to spend too much money, is it possible to make the display too expensive and complex so that consumers do not engage the facility. In any market I think the answer is no, as long as the planning is detailed and when you consider how much good work has been done in this area and the quality involved, we should be able ‘to get it right’ every time.
The starting point will be a complete understanding of the target market and the brand values for the project that will best reach that market, if that’s on target the buyer will always react well.
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Content and delivery
Any experienced project marketing team will know what content is required to manage the sales path and to clearly and easily communicate the project to the consumer. The content like the built structure itself is now a highly developed area and in many ways it has been the buyers who have encouraged this.
However from experience to fully engage buyers the content must be easy to read, the content of the display will always need to include some key items, and this includes the use for example of hardworking pointers such as aerial photographs and easy to read plans.
Never forget the buyer
Generally the standard of display material presentation and content is very important, there is a need to present material, in a logical and easy to understand way, where the project remains the hero. Potential buyers can be taken along a logical sales path that gives them the best impression and understanding of the project. Remember this is not, even in Sydney’s hot market, something buyers do every day.
One easy way to test this would be to consider if a buyer visited the space alone, and then walked away, would they have both a good experience but would they also feel they have all of the details that they need?
The sales role (a logical sales path) must remain central, it must help the interaction with the consumer, and the potential buyer’s journey needs to be enhanced. A well planned and presented space will enhance the sales role; it will make it easier and quicker for the sales team to get sales. The sales team will use the space as a tool that they enjoy and so it needs to also add deep value to how sales are managed.
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How to use (and not use) the marketing suite
As possibly the single biggest item of investment and the one element that has the potential for the biggest impact on buyers, how the marketing suite is used is as important if not more so than how the actual space is designed and built.
The sales and marketing display can be the core item around which the sales path is built and managed. It can be the anchor and should be a fantastic tool for the sales team, appealing and exciting.
The display experience should be used to motivate buyers, ignite and then build upon their interest. In combination the sales path (well managed) and a good display centre are solid and well-regarded marketing essentials.
However even an award winning presentation can be undone if the space is badly managed or poorly operated. The possible leverage can be lost, (and this does happen) but with the right sales management this will not happen. Things that go wrong are usually simple, not structure problems, but areas that breakdown sometimes because of complacency. Because the sales and buyer ‘chemistry’ does not work.
The display suite is not a staff room or kitchen and the sight of a sales team member eating lunch in the middle of a display will always have a negative impact on buyers, or simply being unattended. They will either be embarrassed to have interrupted someone’s lunch or they will simply view the entire place a second rate. Either outcome is uncomfortable for all involved. If a sales person is on the telephone, when another person enters the display, deal with both the caller and visitor right away. Apologise to the caller and acknowledge the visitor quickly.
A skilled and professional sales person, even if alone in a sales environment will pick up on these events and prevent either party being relegated to second place. While this is a skill it also entails a degree of common sense and everyday manners, it’s part of the skill set associated with recruiting the right team.
When the display space is being planned it is also important that the project delivery team respects and understands the function, the entrepreneurial role and negotiating skills of the sales team.
This is their tool and the involvement of the sales team is of value. The display suite will never replace or diminish the role of the sales team, this is not as already stated a self-serve environment no matter how well designed. It is also important to be ready to make changes to a display if some area is not working or if materials supplied need to change or they become out of date.
Just like the sales person eating lunch in a display suite, make-shift changes to display material send the wrong message; they say this project is poorly managed. Out of date plans and images send the wrong message, as do scrappy signs or hand written notes. The shop-front for the development must always be 100%.
Every aspect of the display needs to be carefully maintained and presented and constructed so that it works in hand with the sales path and is for buyers a big positive experience that they enjoy and one that adds true value.

<hr>
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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The buyer's journey: The gap between today's reality and future plans is what the sales centre must fill

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It’s that time of the year when businesses start working on strategies to implement for next year and removing the strategies that failed – the biggest question is what should be priority one? It’s pretty simple actually given all roads point to Google. In 1998, Google’s first year, the annual number of Google searches reached 3,600,000, in 2010 it reached 1,324,670,000,000 and in 2012 it jumped to 1,873,910,000,000. The problem for most businesses is their online activity is being ignored by Google as it has tightened the way in which it collects data, today it rewards those businesses that adapt their online activities using Google as the platform.
For example businesses now need to be feeding into <a title="Google+" href="https://plus.google.com/u/0/b/105552035154250004018/+RwmAuMosman/posts" target="_blank">Google+</a>, Google+ Business Page and Google Places to name a few to start with. In recent years we have seen many businesses moving to Gmail as they align themselves to the power of Google’s web asset leverage. Google+ is closing in on Facebook with Google+ now attracting 1,203 million visitors per month and yes, you guessed it, you can’t operate Google+ without a Gmail account.
Joseph Healy from the NAB wrote an interesting piece this week – <a title="Who dares wins in a brave new world." href="https://www.businessspectator.com.au/article/2013/11/18/economy/who-dares-wins-brave-new-world" target="_blank">Who dares wins in a brave new world.</a> “We’ve seen new business models emerge and old ones decline. Established institutions have gone out of business and new leaders have emerged – often through radically altering their business models or even government intervention. The fact is however, looking historically this sense of change is nothing new – for century’s industries, economies and even geographies have been ebbing and flowing. In many ways we have moved to a phase of change that is less evolutionary and more revolutionary or transformational in nature.”
So as we cast our attention to 2014 it’s reassuring that <a title="economists forecast steady growth for Australia" href="https://www.brisbanetimes.com.au/business/the-economy/economists-forecast-steady-growth-for-australia-20131121-2xx1q" target="_blank">economists forecast steady growth for Australia</a> with economic growth set to climb steadily in the two years ahead. The Australian economy grew 2.6% in the year to June, down from 3.7% a year earlier. The forecasters anticipate that growth will hit 2.9% in 2014 and 3% throughout 2015.
The <a title="RBA eying housing market amid signs of lower rates working" href="https://www.smh.com.au/business/the-economy/rba-eyeing-housing-market-amid-signs-of-lower-rates-working-20131119-2xs8k" target="_blank">RBA is eying the housing market amid signs of lower rates working</a> which is becoming increasingly obvious to all watching the Sydney property markets – I’m tipping that houses in Mosman sales for 2013 will break the $1 billion in sales which has not happened since the global financial crisis. <a title="For the heftiest loans, the winner is Sydney" href="https://smh.domain.com.au/real-estate-news/for-the-heftiest-loans-the-winner-is-sydney-20131119-2xt8t" target="_blank">For the heftiest loans, the winner is Sydney</a>; “The harbourside municipality of Woollahra had the nation’s heftiest monthly mortgage repayments of $3250 in 2011, closely followed by Mosman and Manly (both $3033). The council areas of Hunters Hill, Ku-ring-gai, Leichhardt, Pittwater and Waverley were next, each with a median monthly repayment of $3000. Two exclusive waterfront Perth neighbourhoods, Cottesloe and Nedlands, were the only two areas outside Sydney to figure among the top 10 council areas for mortgage repayments.”
<a href="https://www.rwm.com.au/files/2013/11/18-11-2013-12-03-16-PM.jpg"><img alt="18-11-2013 12-03-16 PM" src="https://www.rwm.com.au/files/2013/11/18-11-2013-12-03-16-PM.jpg" width="510" height="411"></a>
Strong price gains over the past year mean Sydney has 123 suburbs with a median price in the $1 million to $2 million dollar range, seven suburbs with a median price in the $2 million to $3 million range and three suburbs with a median price over $3 million, according to Australian Property Monitors. All the signs are there for the property markets to further improve in 2014 and beyond. Mosman briefly hit 100 houses on the market earlier this week then dropped back to 99 when I do the figures each Thursday.
<img alt="18-11-2013 9-32-03 AM" src="https://www.rwm.com.au/files/2013/11/18-11-2013-9-32-03-AM.jpg" width="470" height="307">
<a title="Generation Rent left out in the cold" href="https://www.smh.com.au/business/generation-rent-left-out-in-the-cold-20131117-2xp14" target="_blank">Generation rent left out in the cold</a> with the roaring popularity of property investment – aided by generous tax breaks – is turning us into a nation of landlords. And this is inflicting a hefty toll on younger generations. Throw in the strong injection of Chinese buyers and it’s no surprise that the market demographics are so strong. People in China traditionally associate fortune with lucky numbers. Number eight has long been regarded as the luckiest number is Chinese culture and why is Mosman now so popular? Aside from the obvious the postcode is also 2088. The number two usually suggests germination and harmony.

<hr>
Robert Simeon is a director of <a style="font-size: 14px;" title="RWM" href="https://www.rwm.com.au/" target="_blank" rel="nofollow">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank" rel="nofollow">Virtual Realty News</a> since 2000. 
The RWM real estate model has sold in excess of $1 billion in database sales globally.
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The top business strategy for 2014: All roads lead to Google

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There’s been a lot of debate around property taxation in Australia - significantly negative gearing, which allows an investor to use the short fall between interest repayments and other relevant expenditure, to lower their income tax.  
The policy promotes speculative gain meaning the strategy is only profitable if the acquisition rise in value rather than holding or falling - therefore, in Australia, investor preference is slanted toward the established sector  – the sector that attracts robust demand from all demographics and as such, in premium locations, has historically gained the greatest windfall from capital gains.  
Aside from the impact this creates in terms of affordability (pushing up the price of second-hand stock, burdening new buyers with the need to raise a higher and higher deposit just to enter ownership), it also negatively affects the the new home market, which traditionally struggles to attract consistent activity outside of targeted first home buyer incentive; albeit, the headwinds resulting from planning constraints and supply side policy should also not be dismissed.  
Additionally, capital gains tax and stamp duty have also received much debate. Both are transaction taxes, and therefore have a tendency to stagnate activity, acting as a deterrent to either buying and selling.  
Stamp duty, as modelled by economist <a href="https://andrewleigh.org/pdf/StampDuty.pdf" target="_blank">Andrew Leigh</a>, is shown to produce a meaningful impact on housing turnover, leading to a potential mismatch between property size and household type – a deterrent to downsizing and therefore selling.  
Additionally, it burdens first time buyers by increasing the amount they need to save in order to enter the market and frequent changes of employment concurrent with a modern day lifestyle, are hampered as owners, unwilling to move any meaningful distance outside their local neighbourhood, search for work in local areas alone.  
But, outside of academia and intermittent articles, there is scant debate in Australian mainstream media regarding land value tax and it’s practical impact.  
The theory is taken to its extreme and best advocated by American political economist and author, Henry George, who wrote his publication <a href="https://www.henrygeorge.org/pcontents.htm" target="_blank">Progress and Poverty</a> - an enlightened and impassioned read - and subsequently inspired the economic philosophy that came to be known as ‘Georgism.’  
The ideals of Henry George reside in the concept that land is in fixed supply, therefore we can’t all benefit from economic advantage gained from ‘ownership’ of the ‘best’ sites available without effective taxation of the resource.  
George advocated a single tax on the unimproved value of land to replace all other taxes – something that would be unlikely to hold water in current political circles. However, his ideals won favour amongst many, including the great economist and author of Capitalism and Freedom, Milton Friedman, and other influential capitalists such as Winston Churchill, who gave <a href="https://www.progress.org/banneker/chur" target="_blank">a powerful speech on land monopoly</a> stressing:  
“Unearned increments in land are not the only form of unearned or undeserved profit, but they are the principal form of unearned increment, and they are derived from processes which are not merely not beneficial, but positively detrimental to the general public.”  
In essence, raising the percentage of tax that falls on the unimproved value of land has few distortionary or adverse affects.  It creates a steady source of revenue whilst the landowner can make their own assessment regarding the timing and type of property they wish to construct in order to make profit without being penalised for doing so.  
However, when the larger percentage of tax payable is assessed against the value of buildings and their improvements – through renovation, extension or higher density development for example – not only can those costs be transferred to a tenant, there is less motivation to make effective use of the site. This has a flow on effect which can not only exacerbate urban ‘sprawl’, but also increase the propensity to ‘land bank.’  
The Henry tax review commissioned by the government under Kevin Rudd in 2008 concluded that “economic growth would be higher if governments raised more revenue from land and less revenue from other tax bases,” proposing that stamp duty (which is an inconsistent and unequitable source of revenue) be replaced by a broad based land tax, levied on a per square metre and per land holding basis, rather than retaining present land tax arrangements.  
The Australian Housing and Urban Research Group attempted to mimic the proposed changes using their <a href="https://www.ahuri.edu.au/publications/projects/p30396" target="_blank">AHURI-3M micro-simulation model</a> in a report entitled <a href="https://www.ahuri.edu.au/publications/download/ahuri_80647_fr2" target="_blank">The spatial and distributional impacts of the Henry Review recommendations on stamp duty and land tax</a> .  
And whilst it’s difficult to qualify how purchasers may factor an abolition of stamp duty into their price analysis, perhaps adding the additional saving into their borrowing capacity, and therefore not lowering prices enough to initially assist first homebuyers.  It does demonstrate how over the longer-term <a title="Go to Final Report 182, p.2" href="/Remove Link" target="_blank">falls in house prices have the potential to exceed the value of land tax payments</a>, assisting both owner-occupier and rental tenant as the effects flow through.  
Additionally, increasing the tax base would provide developers with an incentive to speed up the process and utilise their holding for more effective purposes.
And importantly for Australia, it can provide a reliable provision of revenue to channel into the development of much-needed infrastructure.  
The rational for this is coined in the old real estate term ‘location, location, location.’  Everyone understands that in areas where amenities are plentiful – containing good schools, roads, public transport, bustling shopping strips, parks, theatres, bars, street cafes and so forth – increases demand and therefore land values, invoking a vibrant sense of community which attracts business and benefits the economy.  
The idea behind spruiking a ‘hotspot’, such a common industry obsession, is based on purchasing in an area of limited supply, on the cusp of an infrastructure boom such as the provision of a new road or train line for example, enabling existing landowners to reap a windfall from capital gains and rental demand for little more effort than the advantage of getting in early and holding tight whilst tax payer dollars across the spectrum fund the work.
Should a higher LVT be implemented, the cost and maintenance of community facilities could in part, be captured from the wealth effect advantaging current owners, compensating over time for the initial outlay.  Imagine the advantage this would offer residents in fringe locations who sit and wait for the failed ‘promises’ offered, when they migrated to the outer suburbs initially.  
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Take <a href="https://onthecommons.org/magazine/forgotten-idea-shaped-great-us-cities" target="_blank">New York</a> for example – between the years 1921 and 1931 under Governor Al Smith, New York financed what is arguably the world’s best mass transit system, colleges, parks, libraries, schools and social services shifting taxes off buildings and onto land values and channelling those dollars effectively.  
The policy influenced by Henry George ended soon after Al Smith’s administration, and eventually lead to todays landscape - a city built on a series of islands, with limited room to ‘build out’ facing a chronic affordable housing shortage with the population projected to reach 9.1 million by 2030.
More than a third of New Yorkers spend half their pay cheque on rent alone yet like London, there is little motivation for developers to build housing to accommodate low-wage workers concentrating instead on the luxury end of market, broadening the gap between rich and poor as land values rise and those priced out, find little option but to re-locate.  
New York’s Central Park is the highest generator of real estate wealth.  The most expensive homes in the world surround the park with apartments selling in excess of $20 million, and newer developments marketed in excess of $100+ million.  
Like London it’s a pure speculators paradise – in the 10 year period to 2007, values increased by 73% - owners sit on a pot of growing gold and there’s little to indicate America’s richest are about to bail out of their New York ‘addiction’ with an expansive list of A-list celebrities, high net worth individuals, and foreign magnates, owning apartments in the locality.  
New mayor-elect, Bill de Blasio, who won his seat, based on a promise to narrow the widening inequality gap - preserve 200,000 low and middle income units, and ensure 50,000 affordable homes are constructed over the next decade, will struggle to subsidize plans whist facing a deficit reputed to be as much as $2 billion in the next fiscal year.  
Yet economist Michael Hudson has recently assessed land values in <a href="https://www.salon.com/2013/11/22/end_the_1_percents_free_ride_how_taxing_land_would_solve_americas_biggest_problems/" target="_blank">New York City alone</a> to exceed that of all of the plant and equipment in the entire country, combined.  
Currently more than 30 countries around the world have implemented land value taxation - including Australia - with varying degrees of success not only based on the percentage split between land and property, but how those funds are channelled back into the community and the quality of land assessments in regularly updating and estimating value.  
Pennsylvania is one such state in the USA to use a system which taxes land at a greater rate than improvements on property – I think I’m correct in saying 19 cities in Pennsylvania use land value tax with <a href="https://transportationist.org/2013/08/17/altoona-pennsylvania-adopts-land-value-tax/" target="_blank">Altoona</a> being the first municipality in the country to rely on land value tax alone.  
Reportedly, <a href="https://www.earthrights.net/docs/success" target="_blank">85% of home owners pay less with the policy</a> than they do with the traditional flat-rate approach. When mayor of Washington county, Anthony Spossey, who also served as treasurer from 2002 to 2006 and under his watch enacted an LVT, was <a href="https://www.urbantoolsconsult.org/upload/Mayor%20%20Anthony%20Spossey%20%20on%20LVT.pdf" target="_blank">interviewed</a> on the changes in 2007, he commented:  
“LVT ..helps reduce taxes for our most vulnerable citizens. We have an aging demographic, like the county, region and the state. Taxpayers everywhere are less able to keep up with taxes, and that hurts revenue. LVT helps us mitigate the impact both to them and the city. It’s a win/win.”  
Until fairly recent times, another good example to cite is Pittsburgh. Early in the 1900s the state changed its tax system to fall greater on the unimproved value of land than its construction and improvements.  
Pittsburgh’s economic history is a study in itself, and has not been without challenges.  For those wanting to research further, I strongly advocate some of the writings of <a href="https://www.savingcommunities.org/docs/sullivan.dan/" target="_blank">Dan Sullivan</a> - (former chair of the Libertarian Party of Allegheny County, (Pittsburgh) Pennsylvania) - who is an expert on the economic benefits of LVT and has written extensively on the subject.  
Sullivan demonstrates that Pittsburgh not only enjoyed a construction boom whilst avoiding a real estate boom under a broad based LVT system, but also effectively weathered the great depression whilst maintaining affordable and steady land values along the way.  
In comparing it to other states struggling to recover from the recent sub-prime crisis he points out:  
“In 2008, just after the housing bubble broke, Cleveland led the nation in mortgage foreclosures per capita while Pittsburgh's foreclosure rate remained exceptionally low. Since then, the foreclosure rates in Las Vegas and many Californian cities, none of which collect significant real estate taxes, have passed Cleveland's foreclosure rate. However, on September 15, 2010, The Pittsburgh Post-Gazette reported that while at the end of the second quarter of 2010, 21.5% of America's single-family homes had underwater mortgages (the American term for negative equity), only 5.6% did in Pittsburgh. As a result Pittsburgh was top of a list of the 10 markets with the lowest underwater mortgage figures.”
 
When land value tax is implemented - with the burden taken of buildings and their improvements, ensuring good quality assessments and sensible zoning laws – it not only assists affordability keeping land values stable, but also benefits local business through infrastructure funding, discourages urban sprawl, incites smart effective development of sites, reduces land banking, and as examples in the USA have demonstrated – assists in weathering the unwanted impacts of real estate booms and busts.  
Despite the numerous examples across the world where a broad based land value tax has been deployed <a href="https://www.propertyobserver.com.au/https://blog.p2pfoundation.net/successfull-examples-of-land-value-tax-reforms/2011/02/05" target="_parent">successfully</a>, changing policy and bringing about reform is never easy and rarely without complication.  
Additionally, the implications of a yearly tax on fixed low-income retirees must be handled with care and understanding, as there are ways to buffer unwanted effects whilst changes are implemented.  
Therefore, the process adopted in the ACT which is abolishing stamp duties over a slow transitional <a href="https://www.canberraconnect.act.gov.au/app/answers/detail/a_id/1397/~/tax-reform" target="_blank">20 year</a> period to phase in higher taxation of land is not altogether unwise.  
With any change to the tax system, the headwinds come convincing the public that it’s a good idea. In this respect balanced debate and conversation is necessary, as questions and concerns are brought to the fore.  
The increased tax burden also falls on those who have significant influence across the political spectrum; therefore strong leadership to avoid lobbying from wealthy owners with vested interests is essential.  
Albeit, <a href="/news">as I said last week</a>, we have a new and growing generation of enlightened voters who are well and truly fed up with battling high real estate prices, inflated rents, and care not whether it’s labelled as a ‘bubble’ – but certainly care about their future and that of their children.  
Therefore – I do see a time when all the chatter around affordability, will finally evolve into real action – and a broad based LVT should form an important part of that debate.
 
<hr>
 Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
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Is a land value tax the solution to our housing affordability problem?

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In the capital cities, two out of every three properties sold were for less than $600,000 (68.8%), while in the non-capital markets, nine out of every ten properties sold transacted for below that price point.
As values increase, I expect to see a natural bracket creep in prices.
<img src="/images/stories/2013/11/21/kusher-nov-21-one.gif" width="470" height="235" alt="kusher-nov-21-one">
We are also seeing an increase in buyer demand at the more expensive end of the market, likely driven higher by profits being made in the share market as well as more upgraders choosing now as a time to step up a notch on the property ladder.
While across the combined capital cities where most home sales over the past year occurred at a price point below $600,000 (68.8%), at the same time in 2012, 72.1% of all sales occurred at a price below $600,000. Over the past 12 months, just 5.0% of capital city properties sold for less than $200,000 compared to 4.0% in 2012.
<img src="/images/stories/2013/11/21/kusher-nov-21-two.gif" width="470" height="232" alt="kusher-nov-21-two">
Property sales across the remaining price brackets:
– $200,000 to $400,000 (29.9% currently vs. 33.6% last year)
– $400,000 to $600,000 (33.9% vs. 34.5%)
– $600,000 to $800,000 (15.8% vs. 14.2%)
– $800,000 to $1 million (6.9% vs. 6.1%)
– $1 million to $2 million (7.1% vs. 6.2%)
– Greater than $2 million (1.5% vs. 1.4%).
There was a significant decline in the proportion of homes selling at more affordable price points where over the 12 months to August 1995, 95.4% of all capital city home sales were below $400,000.
Across the major capital cities the proportion of sales ranged from 90.5% of all sales in Sydney to 98.5% of all sales in Adelaide. There was a significant decline in the proportion of these sales across each major capital city where it was most significant in Sydney with just 25.1% of all sales below $400,000.
<img src="/images/stories/2013/11/21/kusher-nov-21-three.gif" width="470" height="233" alt="kusher-nov-21-three">
In Melbourne, the figure was 36.2% followed by: Brisbane (43.7%), Adelaide (62.8%) and Perth (27.1%). In the four largest capital cities, the majority of property sales over the past year have been at a price point above $400,000.
Over the 12 months to August 1995 just 0.5% of all capital city home sales were at a price above $1 million compared to 8.6% over the most recent 12 months. As a comparison, back in August 1995, the figures for the proportion of sales in excess of $1 million across the major capitals were:
– Sydney 1.3%
– Melbourne 0.3%
– Brisbane 0.2%
– Adelaide 0.4%
– Perth 0.1%
Over the most recent 12 months, sales in excess of $1 million accounted for 14.3% of all sales in Sydney, 8.3% in Melbourne, 3.6% in Brisbane, 2.3% in Adelaide and 7.6% in Perth. The proportion of sales in excess of $1 million was at a record high across Sydney over the past year but below the peak elsewhere.
The data highlights the challenge of purchasing relatively lower priced housing within major capital cities given that the majority of sales are occurring at prices above $400,000 across most capital cities.
<img src="/images/stories/2013/11/21/kusher-nov-21-foru.gif" width="470" height="235" alt="kusher-nov-21-foru">
Clearly, buyers with a limited budget who are looking to purchase in the capital cities may need to change their search criteria and investigate more affordable markets outside of capital cities. The downside to this is that the challenge in many regional areas can be finding local employment or commuting back to the capital cities for work.
Nevertheless, for some buyers regional markets may be their only realistic option for which to enter into home ownership given the cost of housing in most capital cities.

<hr>
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
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Buying affordable housing in capital cities is getting harder and harder

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We receive lots of calls from property investors wanting to talk to us about developing. During our initial chat we discuss their goals and achievements to date with property. Usually we find that most people have at least one investment property, some have several. Some have built a house before but most haven’t. Then we discuss what property developing is like as an experience to see if they think it may suit them.
Property developing is not for everyone and I’ve found that you need to be somewhat flexible, have an open mind and be fairly non-controlling and decisive.  Without going into a Carl Jung type personality and psychological analysis, it can be hard to determine if a person is ready to embark on a development. But having entrepreneurial traits will help as things won’t always go to plan.
A good starting point is to ask yourself these questions:
<ul>
<li>
Do I understand what needs to be done?
</li>
<li>
Can I do what’s got to be done?
</li>
<li>
Do I have the necessary skills, resources, time, and team support?
</li>
<li>
Can I handle risk?
</li>
<li>
Can I create real value?
</li>
</ul>
Property Bloom has managed many small property developments over the past 12 years and what we’ve done over this time is continually refine our process – with every development comes a new learning and we use this experience to improving what we do.  By doing this we’ve been able to save time, money and reduce a lot of the risk.
We only develop in areas we know there’s good demand and growth indicators and where there are comparable recent sales references so our estimated end values can be fairly accurate before we even start. We closely track what’s happening in the locations – fundamental research is just as, if not more important as statistical research to us.
Project managing your project involves dynamic relationships between several different parties. Building established and trusted relationships takes time and we have several great builders we use and know will do their best to bring in the construction process of our projects efficiently and to the highest of standards.
Property Bloom can help mitigate risk by using our tested methods, understanding of the cities and their suburbs we develop in, sourcing development sites that meet our strict criteria and using our team of people who we know do a great job. This helps create a good first development experience for our clients.

<hr>
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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Do you think you're ready to become a property developer?

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The experience of 2013 has taught investors, once again, how careful they need to be in their location choices.
When markets are rising, as some have this year, investors can be deceived into believing that any purchase will give them growth.
That's especially so when some media would have us believe that "the Australian property market" is white hot. The reality is that only a very narrow strip of real estate Australia has conditions remotely resembling a boom.
Most cities and regional areas have recorded moderate growth this year and others have struggled, with a few over-supplied markets in sharp decline.
The last time a property boom swept the nation, encompassing almost everywhere, was ten years ago.
These days, buyers have to be selective. A poor locational choice can result in an under-performing property surrounded by rising markets.
The latest House Price Indexes from the Australian Bureau of Statistics, describing annual growth to September, have Sydney as the only city with a double-digit increase. Melbourne and Darwin (6-7%) have had moderate growth, Brisbane has grown just 4% and Canberra, Hobart and Adelaide have stagnated.
In regional Australia, selected cities and towns have done very well this year, including a few where annual growth has topped 20% - among them Miles and Cloncurry in Queensland and Narrabri in New South Wales.
Some have had sharp corrections, due to local conditions. Notable examples are Queensland coal mining towns like Moranbah and Blackwater, and the iron ore town of Newman in Western Australia.
Moranbah demonstrates the volatility of pure mining towns: once the number one location in the nation for capital growth, it has recorded a 37% decrease in its median house price in the past 12 months, according to Australian Property Monitors figures.
Newman, which saw its median top $800,000, has recorded a median below $500,000 with its most recent sales. No doubt it will rise again when the massive Roy Hill mine cranks up construction. I couldn't sleep if I owned property in places like this.
This week I was in Central Queensland, which provides a case study in the variations that can exist across quite short distances. Gladstone, a city with high real estate demand but way too much supply, has recorded a marked decrease in prices and rents. The median house price for the suburb of Clinton is down 10% and South Gladstone has dropped 8%.
In Mackay, where new supply has coincided with a drop in demand thanks to a downsizing coal industry, the previous strong growth has halted.
Meanwhile, in unheralded Rockhampton, sales volumes have increased and prices are following. The city has more economic diversity than Gladstone and Mackay, with less reliance in resources. It's also considerably cheaper.
The message for 2014 is to choose locations carefully. These is no national property boom and while I expect Brisbane to rise and Perth to continue to be strong, most cities will deliver only moderate growth and some, like Canberra, will struggle.
 
<hr>
 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 him 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

The message for 2014: Choose your location very carefully

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Following the demand of the first release of apartments and townhomes in the harbourfront estate Spring Cove, the second release of 17 luxury homes has been fast tracked.
Located in Manly, the 2.7-hectare estate by Denwold Group and Oakstand Property Group released the first stage of 16 two- and three-bedroom apartments and five two-storey townhomes off the plan in September.
Purchasers from the local Sydney market snapped up 19 properties, with only two town homes remaining.
Apartments were priced from $1.85 million to $3.5 million and the town homes were priced from $2.95 million to $3.2 million.
“We are thrilled with the strong interest from high end local Sydney buyers and subsequent sales results, which are testament to Spring Cove’s extraordinary locale and seamless integration with the surrounding area,” says David Cullen managing director of Oakstand Property Group
The second stage comprises of 17 luxury homes priced from $4.5 million to $6 million.
Internal areas range between 271 square metres to 391 square metres and feature under-floor heating, stone floors and miele appliances.
The <a target="_blank" href="https://springcove.com.au/overview.php">Spring Cove estate</a> is located in one of the last remaining parcels of untouched harbourfront land in Sydney.
“Manly is an iconic Sydney location with a community of family oriented beach lovers and surfers,” says Cullen.
“Locals can embrace the peace and serenity, enjoy the varied lifestyle amenities of vibrant Manly, and easily commute to the CBD on ferry - all of which are strong attributes that are driving buyers to purchase in the area.
“Spring Cove is a once in a lifetime opportunity to live in a unique and luxurious coastal community overlooking the world-renowned and highly-coveted Sydney Harbour,“ says Cullen.
The team behind Spring Cove has taken a “minimum intervention” approach to ensure the estate integrates within the ecosystem without upsetting its balance.
Spring Cove Estate was originally part of the Catholic Archbishop’s residence, which was built in 1886.
The median house price in <a target="_blank" href="/news">Manly</a> is $1.72 million, a 16.2% change in the past five years, according to RP Data.
The median apartment price in Manly is $760,000, a 17.8% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
 
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For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/11/3/skye-by-crown">Investor Showcase</a>.
Images are artist impressions.
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Manly estate fast tracks 17 luxury homes following buyer demand

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An unfinished four-bedroom, two-storey home in New South Wales’ Bullaburra was the most affordable auction sale last weekend.
Located at <a href="https://www.realestate.com.au/property-house-nsw-bullaburra-115133903" target="_blank">373 Great Western Highway</a>, the house sold for $191,000 through First National Real Estate – Mid Mountains.
Prior to this sale, the house last sold in 2007 for $240,000, according to RP Data records.
Listing agent Gary Brown told Property Observer the auction was “very good”, with 10 registered bidders present.
The successful bidder was an investor.
“He’s a builder – he’s not going to live in it, probably going to keep it as a rental, or flip it,” Brown said.
He added that the vendor was a builder who had lost motivation and enthusiasm in finishing the project.
While the property is located on the highway, it is 400 metres from the station with a bus service out the front. Its back also faces a park, which is ideal for families.
Brown also noted that Bullaburra’s property market is easily affected by the Sydney property market, as most buyers are from Sydney.
“When Sydney goes good, we go good; when Sydney goes bad, we go bad,” he said.
Hence, the property market in Bullaburra is going well at the moment.
“In the last six months, we’ve had a $35,000 increase per property. But mind you, we’ve had nine years of very slow growth,” he said.
He added that investor activity is very strong in the area at the moment, while first homebuyers have lost interest in the area.
“We’re seeing a lot of mum and dad investors, builders, and a lot of self-managed super funds,” he said.
According to First National Mid Mountain’s estimated asking rent of $380 per week once the property is done up, the price reflects a 10.35% yield.
According to the <a href="/news">latest RP Data report</a>, the median house price in Bullaburra is $327,500, down 3.1% on last year. The average discount required to sell a house is 7.9%, while private treaty sales average 135 days on market.
The median asking rent for a house is $363 per week, while gross rental yield currently stands at 5.8%.
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