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

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

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

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

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

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It’s no secret that the Australian government is up the proverbial creek without a paddle given its federal budget is in crisis. Finance Minister Mathias Cormann told the Ten Network: “We inherited a budget in a very bad shape from the Labor Party, a $30 billion deficit at the time of the election and deteriorating, net debt heading for $200 billion, gross debt heading well beyond $300 billion.”
This week, <a title="Australia’s growth to slow: Goldman Sachs " href="https://www.smh.com.au/business/the-economy/australias-growth-to-slow-goldman-sachs-20131127-2y9b1" target="_blank">Australia’s growth to slow according to Goldman Sachs: </a>“Relative to the acceleration forecast in the global economy, in Australia we expect economic growth to decelerate in 2014, anticipate further easing required by the RBA, forecast additional fiscal drag and see a corporate sector set on a path of investment restraint.” So based on this forecast the federal government is going to have to “trim the sales” where possibly they may be left with no other alternative than to introduce significant tax reforms.
On September 20, 1985 the Hawke/Keating government introduced the <a title="Capital Gains Tax" href="https://en.wikipedia.org/wiki/Capital_gains_tax_in_Australia" target="_blank">capital gains tax</a> in Australia where the tax only applies to assets acquired on or after that date where the most significant exemption was the family home which to this day remains tax free. On July 1, 2000 the Howard/Costello government introduced the goods and services tax (GST) a value added tax of 10% on most goods and services transactions. It replaced the previous federal wholesale sales tax system and was designed to phase out a number of various state and territory government taxes, duties and levies such as banking taxes and stamp duty. Well we know the states and territories have all put stamp duty up since then.
<a title="Record Stamp Duty windfall for NSW government " href="https://www.whocrashedtheeconomy.com.au/blog/2013/11/record-stamp-duty-windfall-for-nsw-government/" target="_blank">Record stamp duty windfall for NSW government </a>where figures published by the NSW Office of State Revenue showed a record $356.8 million was made from stamp duty receipts collected in October 2013. The booming property market has done wonders for the NSW state government’s September quarterly budget. The June budget had forecast a $374 million deficit, but a surplus of $239 million was actually achieved. You can see why the states and territories opted to ignore removing stamp duty from their respective cash registers.
<img alt="26-11-2013 9-46-01 AM" src="https://www.rwm.com.au/files/2013/11/26-11-2013-9-46-01-AM.jpg" width="470" height="321">
In July 1985, the Hawke/Keating government introduced negative gearing, the tax treatment of interest expenses and future gain affects the after tax return. Losses from negatively geared property investments, share investments, and other commercial business ventures are tax – deductible against other taxable personal income in Australia. <a title="Let’s get negative about negative gearing" href="https://www.businessspectator.com.au/article/2013/11/26/property/lets-get-negative-about-negative-gearing" target="_blank">Let’s get negative about negative gearing</a> – “The federal budget is in crisis on the revenue side, and one of the unexamined holes in the budget is the $5 billion a year used to fund negative – gearing tax concessions.”
In recent times property investors have been the major players in the market – more particularly <a title="Asian buyers make up a quarter of buyers in Gold Coast." href="/news" target="_blank">Asian buyers make up a quarter of buyers in Gold Coast.</a> To further add to the confusion when Prime Minister Tony Abbott announced his cabinet he removed the housing portfolio so on that basis his government is actually blindfolded on what is actually happening within the Australian property markets – this was a dumb and ill – informed decision.
<img alt="26-11-2013 11-52-58 AM" src="https://www.rwm.com.au/files/2013/11/26-11-2013-11-52-58-AM.jpg" width="470" height="311">
A few weeks ago <a href="https://www.propertyobserver.com.au/trends/property-will-be-front-and-centre-of-the-government-s-planned-reforms/2013102865949" target="_blank">I wrote</a>: “I am advised that Mosman has approximately 6,000 properties for rental which in itself is a staggering number – 46.6%. If the government were then to be heavy handed on negative gearing the Mosman property market would be absolutely decimated with investor exit strategies.”
Should it be phased in over say a 10 to 15 year period this could bring down the government at the next election as it would provide the Opposition a great platform – much like the carbon tax campaign Tony Abbott fought so hard on to remove the Labor government. Not to dismiss the hostile campaigning from Hawke/Keating who were the architects of this policy reform.
It doesn’t matter which side of the fence you sit on the negative gearing debate is good for the economy and the government given that investors keep investing back into their investment properties which in turn provides jobs for other businesses.
The biggest problem for the government is when the Howard/Costello government introduced the GST this created the ‘cash economy’ where improvements are done less for cash. The households are all over the less for cash while the investors demand the full invoice to claim a greater tax deduction. Therein, lies the problem for the government – it is hammered on both fronts.
So the capital gains tax is severely impacting the GST – the Abbott government would be better served critiquing the capital gains tax where with the family home it becomes a tax deduction and tax is proportionately paid on the sale. Australia today remains one of the very few countries that doesn’t tax the sale of the family home. Obviously this must be retrospective so with one third of Australians renting, another third owning with a mortgage and the remaining third owning their homes outright this could further stimulate the markets.
It would certainly reduce the cash economy.

<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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robertsimeon-hRNTwJyXkQ

The government should look at CGT on the family home

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Since I started writing about housing policy and citing the growing concerns many are having with the rising price of accommodation, it’s been somewhat heartening to see a greater array of individuals acknowledge an undeniable widening gap between existing owners, and a growing pool of ‘wannabe’ renters.  
Most recently, ALP member for McMahon in New South Wales, Chris Bowen, who was reported saying “<a target="_blank" href="#ixzz2lwBjyOPj">''I can see the difficulties for young and first home buyers of getting into the market,''</a> citing an “affordability crisis” to be a “serious national issue.”  
Whilst many parents would recognise the struggle first homebuyers face and wish for an easier path to enable their children, to gain a foothold into what’s too commonly termed the property ladder – as if it’s something to be conquered – emphatic remarks such as those offered above are easy to make when decision-making is out of party hands.  
Yet, it was only a few months ago, when challenged over affordability on Q&amp;A, and lacking any real policy initiative going into the federal election, that Chris Bowen remarked:  
“There (are) two big things that we can do to help with housing affordability. That’s keep unemployment as low as possible. Because you have got a job, that’s the best thing you can do to get into the housing market. And also to keep interest rates low and interest rates are as low as they’ve ever been in Australia.”
 
No one would doubt keeping unemployment numbers low is an important component to a steady housing terrain. However, as for low interest rates, they have done little more than inflate established property prices and speculation on financial markets, which is scant benefit to those facing rising rents, or paying an inflated cost to secure a property at the offset.
 
On the same program, Joe Hockey’s comments took a similar stance – except he did touch on the issue of supply:  
“The fact is you’ve got to increase the supply. I mean it’s a market. There is plenty of demand and increasing demand but what are we going to do for supply? I have some plans on that which we’ll be talking about before the end of the election.”  
When making these comments, it’s unclear whether Joe Hockey had prior awareness of the coalition’s plan to abolish the National Housing Supply Council, which was established specifically to identify gaps between housing supply and demand.  
Apparently, the council’s activities are no longer needed and will be absorbed into other departments which aren’t entirely transparent, as Scott Ludlum found when questioning <a target="_blank" href="https://www.youtube.com/watch?v=S-kgSzyCSsc">as such.</a> Whatever the reason, it’s clear the current government does not hold supply policy high on the priority list.  
As it is, saving hard on an average wage is no longer a guaranteed ticket into the breastfed dream of home ownership – especially if you live anywhere close to Sydney.  
Martin North Principal of Digital Finance Analytics demonstrated this on a recent blog entitled <a target="_blank" href="https://www.digitalfinanceanalytics.com/blog/the-truth-about-house-price-and-income-growth/">“The Truth about House Price and Income Growth”</a> charting house prices compared to average disposable income across the NSW market back to 2002.      
Whilst the higher quartile’s income has kept pace with house price inflation, the other quartiles have only seen their wage grow marginally, his study clearly demonstrates that prices are now outpacing earnings for the larger proportion of residents and therefore effective solutions need to be found.  
Of course, each state faces its own challenges, and some are fairing better than others. But presently first home buyers are clashing budgets with an <a target="_blank" href="https://www.macrobusiness.com.au/2013/11/boomers-foreigners-kill-off-the-housing-dream/">equal to larger proportion of investors and downsizers</a> and therefore targeting similar stock against those who have an existing equity stream to tap into.  
Unfortunately, aside from some tinkering around the edges of housing policy with schemes such as the NRAS (which quickly became over subscribed and jumped upon by SMSF spruikers), it remains a reality that neither political party has yet seen past burdening new buyers with cheap credit by way of grants, low interest rates and incentives, in a vain effort to mask the rising cost of accommodation under the false premise that they’re doing ‘something.’  
And Australia faces challenges ahead – with a falling participation rate due to an aging population, fewer full time positions coupled with a rise in part time work inflating the ‘underemployment’ figures – job creation is not keeping pace with increases in our working age population.  
This was outlined in the freshly released <a target="_blank" href="https://www.pc.gov.au/research/commission/ageing-australia">Productivity Commission paper</a> entitled "An Ageing Australia: Preparing for the Future" which projected:  
“Australia would have four million more people aged 75 years or older by 2060, with 25 centenarians for every 100 newborns, compared with one centenarian for every newborn in 2012.”  
Not only will aging Australian’s have to work to the age of 70, to bridge a shortfall in savings, but the report suggested retirement should be funded in part through a house value ‘equity release scheme,’ claiming:  
“House prices have risen over time in real terms, a trend that is likely to continue.  Against this backdrop, even under conservative assumption allowing households aged over 65 years to easily access their home equity to help fund health and aged care costs could have a significant impact on reducing fiscal gaps”  
However, under such schemes, not only do governments have a vested interest in keeping house prices high and rising, they are pinned to the necessity of such to fund future budgets.  
Article contiues on next page. Please click below.
 
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Balancing an economy for an aging demographic is not unique to Australia. However, if house prices weren’t as burdensome, requiring an increasing proportion of savings just to enter ownership, not to mention the longer mortgage terms needed to pay down the loan, it would be possible to invest a greater proportion of the household budget into areas of productivity and small business development, as well as channelling savings elsewhere for retirement without the need to use the principle place of residence as a sole equity fund.  
In this respect, Australia differs little from its closest neighbour New Zealand, where the costs of rising accommodation also bites a good way into a household’s budget for new buyers.  
In an article in the <a target="_blank" href="https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&amp;objectid=11165222">New Zealand Herald</a> concentrating on an increasing difficulty accessing ownership following a sensible requirement on lenders by the RBNZ to maintain an 80% loan to value ratio, a young couple were highlighted as a somewhat typical case study.  
Putting aside the additional ‘useful’ tips for saving the $90,000 deposit needed for their $450,000 purchase – such as “take a packed lunch to work,” – it seems the only way this couple were able to purchase adequate accommodation in the Auckland locality, was to tap into the ‘bank’ of their respective parents, who borrowed against the accumulated equity in their own home to shore up their children’s deposit.  
The couple’s take home pay is $6000 per month, therefore a weighty 50% will go toward mortgage repayments – yet the price of their accommodation, is not out of step with what we expect our own dual income first timers to pay for a modest sized home which will provide adequate facility for more than two or three years.  
New Zealand resident and co-author of the Annual Demographia International Housing Affordability Survey - <a target="_blank" href="https://www.performanceurbanplanning.org/">Hugh Pavletich</a> - makes some sensible comments in relation to this:  
“Within normal housing markets with properly functioning local governments that have not lost control of their costs, young Jamie Clark and Jenna Close on their household income of $70,000, should be able to buy a new home for about $210,000 with a sensible mortgage load of $175,000 requiring a deposit of about just $35,000.”
 
Pavletich’s comments are endorsed by Australian Senator–elect Bob Day who in reply to the comment above stated:  
“For more than 100 years the average New Zealand family was able to buy its first home on one wage. As you have frequently reported, the median house price was around three times the median income allowing young home buyers easy entry into the housing market.  
As discussed in your report, the median house price is now, in real terms i.e. relative to income, up to nine times what it was between 1900 and 2000…a family will fork out approximately $500,000 more on mortgage payments than they would have had house prices remained at three times the median income.”  
The Demographica survey rates 337 different housing markets using a “median multiple” (the median house price divided by gross annual median household income) to assess affordability. The methodology is a measure recommended by the United Nations and World Bank Urban Indicators Programs and employed by Harvard University's Joint Centre for Housing - to name but a few.  
An affordable market is therefore deemed to be one with a median multiple of 3.0 or less, and whilst it’s never easy to draw an exact correlation between the complexities of international policies compared to our own, the report does provide a basis for research into precisely how other markets with rising populations and relatively healthy economies, manage to maintain their affordable nature.  
Article contiues on next page. Please click below.
 
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Supply  
The reports primary focus is on supply – removing barriers such as urban boundaries and tax overlays, and portrays the model employed in Texas, where aside from environmental compliance there are no zoning restrictions outside the city outskirts, and planners see themselves as regulators rather than interested parties in town design.  
Texas is also a market, which has successfully financed infrastructure by electing local residents onto boards and providing them with access to tax free bonds, which are subsequently allocated for the provision of essential amenities.  
Property rights in Texas are clearly strong in nature with limited regulation, covering little more than the land itself – therefore, housing affordability isn’t a burning concern for Texans, and judging by the number of <a target="_blank" href="https://ideas.time.com/2013/10/17/10-reasons-texas-is-our-future/">American’s moving there</a>, the market is an attractive one.  
Tax  
Secondly, as I highlighted <a target="_blank" href="https://www.macrobusiness.com.au/2013/11/land-tax-must-kill-negative-gearing-stamp-duty/">last week</a>, markets such as Pittsburgh in the USA, which has a median multiple below 3.0, is an example where land value tax has been successfully employed.  
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.  
Speculation and strong tenancy laws  
Another commonality shared amongst ‘affordable’ markets is the lack of speculation that inspires the ‘get in quick’ feeling for aspiring owners.  Germany is one such example where until fairly recent times; real house prices had remained stable since at least the 1970s.  
Home ownership in Germany is not embedded in their culture.  And as <a target="_blank" href="https://www.macrobusiness.com.au/2013/11/what-australia-can-learn-from-germanys-rental-system/">I pointed out a few weeks ago</a>, strong tenancy laws along with liberal supply policies ensures when time does come to purchase, there is plentiful option to do so without breaking the budget.  
Australia?  
Whether we will ever achieve the significant reform needed to turn Australia’s housing market into an affordable one is debatable.  However, with the rise of the internet and the ability of those searching for answers to delve a little deeper than they perhaps would have done before the world became a mirror of reflections. As every action and movement is recorded, posted and photographed in real time, and offered up for an immediate judgement on social media – it can only be hoped, that a majority, not minority, are taking opportunity to look past the frivolity of what I think most would agree (whether by design or purpose), has to date been fairly meaningless and unsatisfactory open government debates on housing policy.  
In the end, it will be up to the growing generation of struggling first timers and priced out renters to vote for the brave advocates who enter politics with what are currently deemed unpalatable plans for true and meaningful reform.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
 
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Housing policy reform: What chance do we really have?

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The latest development in Ryde to be released to the public is Meriton’s Evoke apartments, securing 30 apartment sales in the first week.
Located on Porter Street, Evoke will comprise of 278 apartments across four buildings, up to seven storeys in height.
With designs by Architectus, Evoke features a modern exterior with stone and metal cladding inspired by the history of the once-industrial site.
Meriton doesn’t have pre-sale requirements to fund the construction, therefore staging sales evenly across the development.
“Staging our sales evenly allows us to cater to market demands throughout the course of construction,” says national sales director James Sialepis.
“Expressions of interest for this development are extremely strong with investors and owner-occupiers keen to capitalise on its central waterside location - Meriton has already sold 30 apartments at ‘Evoke’ from its Sydney head office,” says Sialepis.
One studio-apartment is available for $505,000 and is 36 square metres in size.
One-bedroom apartments range in size from 46 square metres to 60 square metres and start from $585,000.
Two-bedroom apartments range in size from 69 square metres to 100 square metres and start from $725,000.
Three-bedroom apartments range in size from 108 square metres to 117 square metres and start from $895,000.
Apartments will feature stone benchtops, euro appliances, glass splashbacks and soft-closing drawers.
Residents will have access to a 20-metre pool, sauna, spa and gym as well as an onsite childcare centre and 38 bike parks.
Evoke will also feature onsite shops at street level.
Demolition of the site has already begun with a completion date scheduled for mid 2015.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Meriton launches Evoke in Ryde with design inspired by site's industrial heritage

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Choosing a builder is one of the most important steps of property development.
There are things like their financial position, their quality and customer service, their staff levels and their experience that are obviously all very important.
But over the years, there is one endearing feature that I’ve found means the most.  It’s something that my builder is - but not something they’ve become over time - it’s something that they just are.
They are ‘old school’. Old school means anything from an earlier era and it’s looked upon with high regard or respect.
These days it seems almost old fashioned to be able to pick up the phone and speak directly to your builder - the bloke who makes the decisions - especially when you are dealing with medium to large project home builders. There’s usually layer upon layer of management levels to sift through before getting the information you need.  With one large multinational builder I’ve dealt with, it took them two months to get the paperwork into their systems before we saw any start on the site.  Sometimes my emails were not answered for days even though I had no less than three customer service contacts.  Once, I was not told when our site manager took a week’s holiday and so assumed he was ignoring or avoiding my calls (he’d forgotten to change his voice message).
Having this experience with a larger building company has only confirmed why I love my Hunter Valley builder.
My builder’s ‘sales director’ has been known to talk me out of a building job (which would be a sale for him) because he has some kind of inside information about the site or location. But then when I find a site he’ll be there within a few hours to look at it and let me know his opinion on the slope, aspect and surrounding areas.  He has a good understanding of local sales – he lives there - and he quotes realistic estimates, nothing over inflated about him. His knowledge is gold as he’s been ‘around the block’ a few times now.
The builder allows Property Bloom staff direct access to their estimator, site supervisor or construction manager to discuss any issues. We can talk to their engineer or their town planning consultant. But, there’s one highly valuable member of our builder’s team; a lady who really is the ‘engine room’. Her attention to detail is what brings our projects together. Her opinion is very well regarded as she’s developed property herself and her knowledge and experience in the game is priceless.
Their team is my team and they tell it straight. There’s no beating around the bush if there’s an issue, they’ll raise it immediately and we’ll nut it out to find the best solution.
They do me favours too. Like today when I rang to see if they could include a significant cost normally considered outside their scope into their tender.  This was because the budget my client had set aside for some demolition work was no longer available and he needed to finance it as part of his construction lending.
It’s the no nonsense but witty, down to earth nature of this company and their staff that I value most.  Old school is good school in my books.
 
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 Jo Chivers is director of <a style="font-size: 14px;" target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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Why having an 'old school' builder can be the best bet

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First off today an apology to the young RMIT student to which the two images below belong.  Currently on display within level ten of the <a href="http://www.designhub.rmit.edu.au/" target="_blank">RMIT Design Hub</a> building, the scheme below is one of many works conceived by this years crop of students.  With no visible student name of number, we can't credit this design to any particular student...so if any information is forwarded, Apartments.com.au will be happy to publish the details.
On the student creation, it's envisaged as an integrated transport hub catering principally toward the movement of freight.  Air, sea, rail and road transport options are incorporated into the design located on the current Toll Automotive dock which meets Williamstown Road.  With an associated hotel, office building and public transport station, it surely is a grand design.  
Now Apartments.com.au wouldn't be so daft as to critique this particular design, yet it does provide a visual context as to the article that will follow. 
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/IMG_00031.jpg" rel="gallery-all" title="Rmit student designed airport located within Port Melbourne"><img alt="" class="image-article-full-width-702px" src="http://urbanmelbourne.info/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/IMG_00031.jpg?itok=Pt2fKcjp" title="Rmit student designed airport located within Port Melbourne" typeof="foaf:Image"></a>
As recently as July <a href="http://www.heraldsun.com.au/news/victoria/docklands-airport-plan-slammed-as-8216crazy8217/story-fni0fit3-1226687150609" target="_blank">media reports</a> suggested the possibility of an airport being built within Melbourne's Docklands area. According to the Herald Sun the suitably named <a href="http://www.parliament.vic.gov.au/osisdc" target="_blank">Outer Suburban/Interface Services and Development Committee</a>, made up of three Liberal and two Labor MPs, urged the Victorian Government to consider a city airport (in many ways quite similar to<a href="http://www.londoncityairport.com/" target="_blank"> London City Airport</a>) which would "Better service low-cost segments of the aviation market."  Further "The committee believes that a Melbourne City Airport could be a useful ... particularly for commuter-type domestic flights and short-haul international flights such as to New Zealand." 
The committee report stated "Such an airport could be a useful addition as part of a comprehensive brownfield redevelopment area near the centre of Melbourne, such as Docklands," said the report, which was handed down during June.
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Img_96041.jpg" rel="gallery-all" title="An aerial perspective of the site in question"><img alt="" class="image-article-full-width-702px" src="http://urbanmelbourne.info/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/Img_96041.jpg?itok=LAAGxSgM" title="An aerial perspective of the site in question" typeof="foaf:Image"></a>
Given the stupendous size and expense of such a venture, what would be the inhibiting factors for this city airport....aside from common sense?
<ul>
<li class="rtejustify">
		The Westgate and Bolte Bridges, built obstacles in any such venture.  With minimum separation required the alignment and location of any runway is surely compromised.</li>
	<li class="rtejustify">
		Melbourne's variable winds.  Although the prevailing north/south winds would dictate runway alignment, a single runway would unlikely be operational for periods of time</li>
	<li class="rtejustify">
		Two efficient existing airports with a third major airport mooted on suburban Melbourne's south eastern fringe.</li>
	<li class="rtejustify">
		The ground swell of public opinion demanding a dedicated rail line to Melbourne Airport</li>
	<li class="rtejustify">
		Encroaching populous as Fishermans Bend is progressively developed, not to mention existing areas </li>
	<li class="rtejustify">
		Aircraft noise, and many more</li>
</ul>
So the Docklands airport notion has been dispelled as the random musings of a committee justifying their existence.  Now for the crux of the article, rather than ideas of folly would it not be more appropriate to invest in a rail link to Melbourne Airport, but also further study the eventual relocation of the Port of Melbourne?
This is very much a long term stance yet the initial planning has been done.  The Port of Hastings has already been earmarked as a <a href="http://www.peninsulaweekly.com.au/story/1406932/port-of-hastings-development-premier-unveils-110m-kickstart/" target="_blank">major future container port</a>, as has a <a href="http://www.theage.com.au/victoria/government-urged-to-consider-secret-bay-west-option-for-port-20120903-25amq" target="_blank">section of land</a> between Point Wilson and Werribee South.  At what point would common sense suggest Avalon as a contender where Avalon Airport owner Linfox Group has for a long period of time trumpeted their desire to turn the facility into a freight hub amalgamating rail, air and sea movements.  
Throw in pending developments such as Salta Group's inland ports at Altona and Lyndhurst which are essentially integrated freight logistics, container handling, storage and distribution centres along with the mooted south eastern airport and a picture is starting to emerge of a future outer metropolitan arc of infrastructure designed to handle Melbourne ever burgeoning freight movements.  At either end of this arc may just be Melbourne's two international ports.
<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/both_maps_combined.jpg" rel="gallery-all" title="City of Port Phillip map, aircraft noise anyone? Image courtesy City of Port Phillip"><img alt="" class="image-article-full-width-702px" src="http://urbanmelbourne.info/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/both_maps_combined.jpg?itok=UFJIdfZM" title="City of Port Phillip map, aircraft noise anyone? Image courtesy City of Port Phillip" typeof="foaf:Image"></a>
Could the way forward be a model where cumbersome shipping, freight and associated industry are one the urban periphery - on the outside looking in?  This is of course diametrically opposed to the current model where Port of Melbourne (and the notion of a city airport) are at the heart of Melbourne, causing some metaphorical heartburn I might add.  
Consider this - amazingly enough the image above will one day be dominated by high density housing and commercial use, in effect creating a megatropolis from Footscray to Fishermans Bend.  Gone will be the Port of Melbourne, in its place swathes of new development land which could soak up Melbourne's burgeoning population over not years but decades.  Port Melbourne, Docklands, Southbank, Fishermans Bend and E-gate are examples of existing and future examples of mixed purpose development over what was formerly industrial land in order to assist an expanding central Melbourne.
Freight would be efficiently distributed to transport centres without having to traverse inner urban areas, a larger percentage of the population would live closer to Melbourne's CBD allowing for decreased use of private vehicles and a decrease in inner Melbourne truck journeys alleviating to a degree strains on current road infrastructure.  More people living within a certain radius of the CBD suggests that public transport would benefit due to economies of scale involved - high frequency services for a high density population...and so I could continue on and on.
Now some will suggest this is pie in the sky material, but certainly not as whimsical as an airport based within the City of Melbourne.  The initial steps in identifying the long term shift of Port of Melbourne have been taken, whether it occurs in our lifetime is another question.
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silvermb

Standing on the outside looking in...

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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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pwargent-M4siyDbqQY

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.
Article continue on next page. Please click below.
 
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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.
Article continue on next page. Please click below.
 
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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.
Article continue on next page. Please click below.
 
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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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pchittenden-eLqUUC8TWW

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.

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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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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.
 
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 Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
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