<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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From a three-and-a-half year high last month, business confidence <a target="_blank" href="https://business.nab.com.au/monthly-business-survey-october-2013-5029/">data</a> for October shows the post-election honeymoon is over, with business conditions continuing to underperform in non-mining sectors.
As Treasurer Joe Hockey recognised in his “Australia: Open for Business” speech in New York last month, the initial positive reaction of business to the change of government needs to be matched up with action. After all, slogans only go so far.
Australia’s lack of competitiveness, and its impact on investment and business confidence, is not only a result of the high Australian dollar caused by the mining boom, but is also to some degree self-imposed.
Chiefly among the culprits for the lack of competitiveness are the increased burden of regulation, a cumbersome Industrial Relations system, a tax system in need of reform, and our ambivalent attitude towards foreign investment.
There are some encouraging signs that an “open for business” agenda has begun to take shape. In a recent speech at the Sydney Institute, Parliamentary Secretary to the Prime Minister Josh Frydenberg <a target="_blank" href="https://www.joshfrydenberg.com.au/guest/SpeechesDetails.aspx?id=225">articulated</a> a well-thought through deregulation agenda. Deregulation may be an important first step toward increasing our competitiveness and encouraging investment.
The need for deregulation
The increased burden of regulation is well documented and mostly pre-dates Kevin Rudd’s 2007 election. The last six years arguably saw a steep increase in the pervasiveness of regulation with a number of high profile legislative changes such as the carbon tax, the mining tax and changes to the Fair Work Act, bypassing the regulatory impact statement process.
In the latest <a target="_blank" href="https://www.weforum.org/issues/global-competitiveness">Global Competitiveness Report</a> published by the World Economic Forum, Australia ranked 128 out of 148 countries in terms of the burden of government regulation. I would not take this ranking too seriously – for example China ranks 14 and Vietnam 106 – as it is based on perceptions that are not easily transferable across different cultures. Nonetheless, the increased burden of government regulation is a reality.
One example is that of food manufacturer Simplot and its struggle to gain authorisation from Biosecurity Australia to import pancake “pods”.
Given the need for deregulation to reduce the heavy cost of regulatory compliance, the next question is how to go about it.
What it takes to deregulate
The recipe for a successful deregulation program is neither new or untried. It includes a concerted effort to repeal existing, ineffective regulation.
One of my favourites stories about excessive regulation involves Law no 9502 enacted by the Sao Paulo City Council in 1997. This law mandates that signs be posted next to lifts requiring users to check whether the lift is there before walking into it. Millions of dollars are spent to meet this legislative requirement with no significant impact on behaviour.
As the Simplot example above highlights, there are likely to be many opportunities for the federal government to eliminate ineffective but costly regulations.
There are also opportunities to avoid duplication and better coordinate with states and territories. Some states such as Queensland have already been quietly but steadily working through a similar deregulation agenda.
Another important element of a successful deregulation program includes ensuring that new regulation, no matter how politically important, is subject to a rigorous cost-benefit analysis in the form of a regulatory impact statement. While it is well understood that cost-benefit analysis is very sensitive to assumptions, a key benefit of requiring a regulatory impact statement is that it forces government bureaucrats to identify the range of costs and benefits and, in the process, increases the scrutiny of a policy decision or new regulation.
Finally, the new government deregulation agenda should also include a commitment to an ex-post evaluation of regulation. This is now common practice in other developed countries and is part of the process of ensuring that regulators are held accountable for their decisions.
It could be argued the introduction of an ex-post assessment of a regulatory decision would make the regulator’s job more difficult and costly, as it would be expensive and complex to undo decisions that have been proven to be mistaken. This line of argument, however, misses the key point. The requirement for an ex-post assessment incentivises the regulator to get it right in the first place.
Overall, the deregulation agenda, while an important first step towards developing an open for business strategy, is to some extent the low hanging fruit. The hard yards, which have a much higher impact on investment and business confidence, are changes in the industrial relations system, tax reform and the treatment of foreign investment.
A more ambitious, politically challenging agenda
Despite existing rhetoric, real unit labour costs (non-farm) fell steadily between 1985 and 2010, and have remained broadly stable since then. This means that it may be possible that a more efficient industrial relations system could lead to a better allocation of resources and lower business costs while maintaining real wages at current levels. Framing industrial relations reform along these lines might provide a starting point for a foreshadowed review of the Fair Work Act by the Productivity Commission.
An open for business agenda must necessarily encompass tax reform. The BCA seems to prefer a wider base, lower rate approach. A proposed approach is to finance a reduction in the corporate tax rate via extending the GST to cover food, health and education. For consistency, such an approach should also include eliminating a range of existing tax concessions that have eroded the tax base. The politics of such an approach would, however, be very difficult.
I have <a target="_blank" href="https://theconversation.com/reduce-the-corporate-tax-rate-not-so-fast-4014">argued</a> elsewhere for a more ambitious change in the tax system involving the introduction of an Allowance for Corporate Equity (ACE), which would enable firms to deduct an imputed return on equity. The key conclusion is that tax reform is a long and hard road and will certainly test the government’s commitment to an open for business agenda.
Another thorny issue that will test the government’s commitment is its apparent ambivalent attitude towards foreign investment. This is illustrated by the divisions within the Coalition on whether the Treasurer should allow the acquisition of GrainCorp by Archer Daniels Midland despite its clearance by the ACCC from a competition perspective. A clear statement by the Treasurer when he makes his decision on the 17th of December could go a long way in establishing the government’s credentials as business friendly.
Whilst the change of government has sparked business confidence, the new government must capitalise on this momentum by taking definitive policy action.
There are many opportunities for policy change towards an open for business agenda for Australia, through deregulation and tax reform in particular.
Initial signs show that deregulation is on the agenda and this would be an important start. But broad based changes that encompass reforms to the industrial relations system, foreign investment policy and the tax system, whilst more difficult to achieve, are crucial for promoting a business-friendly environment in Australia.

<hr>
Flavio Menezes is a professor of economics and currently the head of the School of Economics at the <a target="_blank" href="https://www.uq.edu.au/?">University of Queensland</a>.
This article was originally published at <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/abbotts-open-for-business-honeymoon-is-over-19546">original article</a>.
 
 
 
<img width="1" src="https://counter.theconversation.edu.au/content/19546/count.gif" height="1" alt="The Conversation">
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FMenezes-vfCCGrib4N

The honeymoon is over: Business confidence in Tony Abbott’s government drops

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Look, I'm a sceptic when it comes to the ability to forecast property price movements. Firstly, because median prices by city are sometimes of questionable value and can smooth diverse trends from across different market sectors, suburbs and property types. And secondly, because of the huge range of unknown factors which must impact the market.
It doesn't stop people trying. Over in Blighty, Savills can tell you <a target="_blank" href="https://pdf.savills.com/documents/Savills%205%20year%20prime%20market%20forecasts.pdf">what price growth to expect</a> in your region in 2018! Now how's that for a powerful crystal ball? This chart below tells you most of what you need to know about human ability to forecast the future:
<img width="470" src="https://4.bp.blogspot.com/-Jq4nsW2zhtA/UoUexxFxEhI/AAAAAAAAKx4/Gf3MnNuG5-M/s320/RBA+GDP+forecast.jpg" height="429">
That is to say, even the Reserve Bank's "army of economists" have only around 90% confidence that we won't slide into negative growth in the next couple of years. Meanwhile, the 90% confidence interval also comprises a scenario whereby GDP growth almost roars off the top of the chart.
The future is far more unpredictable than most seem to think. The impacts of wild volatility in currency markets, financial crises, the impact of foreign buyers, superannuation funds and plummeting interest rates may all appear obvious in the rear view mirror, but what lies ahead is inherently difficult to judge...perhaps impossible. Indeed, in recent times we have seen forecasters failing to forecast the direction of certain city dwelling prices, let alone the quantum.
Of course, it is possible to build models based upon past events, but to pretend that they are highly scientific or can predict and factor in the impacts of, for example, fiscal cliffs, debt ceiling crises, sequesters, outbreaks of war and so on, is misleading.
One thing we can say with some level of confidence is that due to total household debt in Australia being far higher than it has been in cycles past at around 150% of GDP (and levels of inflation significantly lower), over the course of a full market cycle the impact of lower interest rates and their ability to stimulate housing markets must surely be lower that of days gone by.
<img width="470" src="https://www.rba.gov.au/chart-pack/images/5-6-household-sector/6tl-hhfin-small.gif?accessed=2013-07-10-16-54-59" height="422">
There are two ways to deal with this uncertainty in making property price forecasts (or guesses?). One is to produce a range of "if...then..." scenarios, thereby covering off a huge range of possible outcomes ("prices could move by between -5% and +20%..."). The other is to bite the bullet and build a range of assumptions and accept that you will probably be wrong on some or all of them, and thus your predictions will be wrong too. Let's go with option two.
Assumptions for 2014
So, with the proviso that I'll almost certainly be wrong, let's start with some assumptions. Unemployment still seems to be in a moderate uptrend, so I'll go with the unemployment rate ticking up to 6% through 2014. GDP growth to trundle along sub-trend at somewhere close to 2.5%.
As for interest rates, economists are split. NAB think that the next move will be down to 2.25% in mid-2014. Others are more optimistic on the outlook and are looking for a hike to 2.75% in late 2014. The best we can say is that interest rates are unlikely to apply a substantial handbrake to dwelling prices in 2014 given that the official cash rate is likely to sit somewhere between 2% and 3% which is historically a very low rate.
<img width="470" src="https://4.bp.blogspot.com/-Emd60c7xhlY/UoUh2jhMfeI/AAAAAAAAKyE/RxtV7B-oNQE/s400/yield.jpg" height="311">
Source: RBA
This has led some very bullish property price forecasts in 2014. Dwelling prices look set to increase in 2013 by around 10%, but while it is possible that level of growth could continue with a low cash rate, there are a number of factors which could jam a stick in the spokes, so overall I'm going to tend towards a relatively subdued view.
Reality check
So, another investment propery book hits the shelves forecasting that "well located properties should continue to grow at 9% per annum". 9%! No mucking around with all that 7-8% per annum nonsense there! And I thought I was bullish in years gone by when I suggested that a rational proxy for future dwelling price growth might be the future growth of household incomes. The speed limit on dwelling prices must ultimately be our ability to service debt.
In my opinion, some Australians need a reality check when it comes to our housing markets. Below is what is presently happening to wages in Australia, which is to say, growing at 2.7% per annum...and slowing.
While you could build an argument to say that wages growth could be approaching the bottom of a cyclical bounce, there is absolutely no suggestion that incomes are growing at anything like the rate required to support long term property price growth at the levels seen in times past.
<img alt="wages-nov-18-one" height="394" width="470" src="/images/stories/2013/11/18/wages-nov-18-one.jpg">
The other factor I'd highlight for 2014 is the peak in mining capital investment. There are some suggestions that the fall in mining capex could be offset to some extent by growth in residential construction (as I read the charts, the relative numbers involved don't really appear to stack up for this) and for other sectors of the economy being stimulated (a better likelihood of this happening).
We might also be 'saved' in 2014 to some extent by cost overruns on some of the mega projects,<a target="_blank" href="https://gorgongasproject.blogspot.com.au/">such as Gorgon where some major cost blowouts are well underway</a> (the bean-counters being drafted in is never a good sign). However, note that the latest 'estimate three' for mining capex 2013-14 is some 13.6% lower than its 2012-2013 Estimate three predecessor. In other words, mining capex must fall eventually and this will represent a drag on economic growth, and probably employment too.
<img width="470" src="https://www.abs.gov.au/ausstats/abs@.nsf/be4aa82cd8cf7f07ca2570d60018da27/1ecf42b5ec12e8bcca2573460014f2df/Body/1.3CF4!OpenElement&amp;FieldElemFormat=gif" height="183" alt="Chart: Financial year actual and expected expenditure- Mining Capital Expenditure">
Property price predictions
OK, so now onto the real guesswork. Let's run through the cities in ascending order of size.
I'm going to omit Darwin, however. I've lived in Darwin previously. I didn't understand the seasonal property markets then and nor do I pretend to now. Volatile, supremely expensive and unpredictable.
Hobart is a small city with a population of a little over 200,000. I would normally find it difficult to post or make a positive case for Tasmania given that the population growth is much flatter than the Bass Strait and that until last month the unemployment rate had been well above 8%. However, the unemployment rate has fallen to 7.9% and SQM's vendor sentiment implies that asking prices may have stopped falling.
Perhaps more important than this, the state government appears hellbent upon forcing the property markets northwards with its proposed introduction of an incredible <a target="_blank" href="https://www.themercury.com.au/lifestyle/new-home-grants/story-fnj64ocs-1226754568608">$30,000 first home builders</a> grant. Since I don't try to argue with market distortions (and indeed, such grants for new building may themselves distort median data) of this nature, I'll go with -1% to 2% growth for Hobart.
The <a target="_blank" href="https://www.canberratimes.com.au/act-news/cut-jobs-now-and-be-done-abbott-told-20130914-2trwk">Australian Institute forecast</a> that more than 5,000 planned job cuts in Canberra will send the city and the ACT into recession. Canberra is only a small city of around 360,000 population, and jobs cuts will hurt property markets. Amazing how times change. Only in March of this year, in spite of sky high prices in Canberra, <a target="_blank" href="https://blog.residex.com.au/2013/03/07/market-update-and-investment-seminar/#more-3061">Residex mused</a>: "I leave you with a question to ponder – given the position Canberra is in, should we all be immediately moving to buy an investment property there?"
The Residex Canberra theory was based on high pre-tax incomes in the city and the answer from an investor's perspective is "definitely not". I don't recommend investing in small cities with limited employment diversity in any case. It's impossible to gauge the likely outcomes precisely, but SQM's vendor sentiment index suggests that the likely trend is not good. Prices to fall -1% to -4% is my guess.
On average, at least, Adelaide has been a poor-performing property market for the past half decade. With a population of around 1.2 million and relatively sedate population growth in South Australia, it's not a city I have ever been bullish on for property.
However, unemployment in the state has fallen back to 6.6% and a glance at SQM's vendor sentiment index suggests that the bottom may now be in. For the aforementioned reasons, I'm still not going to go overboard on predicting capital growth, but inflation-adjusted prices in Adelaide (and Brisbane) are well below previous peaks and a generational low cash rate will surely have an impact at some point. 0% to 3% growth.
Perth, a city of around 1.6 million, does have low unemployment and very strong population growth, and has had a great run through 2013, recording median dwelling price capital growth of around 9% over the past 12 months.
However, there are some indications from RP Data's index that this growth has ground to a halt along with levels of mining investment, which may be no bad thing for the city's longer term prospects. On the plus side, SQM's vendor sentiment index still has a moderately positive incline for Perth. 0% to 3% growth.
I haven't been up to Brisbane for a little while, but the news I have heard from those 'on the ground' in the city has been positive, and the market does appear to be moving. Finger in the air guess of 2% to 5% growth.
I should probably be disqualified from guesses on Melbourne prices having previously pondered incorrectly as to whether the market had peaked. I wasn't the only one. All I can say in my defence is that, unlike some, at least I don't charge hard-earned dollars for my guesswork - it all comes for free (and a lot of free information is worth what you pay for it, after all).
One of the problems for Melbourne has been that although vacancy rates in certain types of inner city stock have been high, activity in much of the established stock has remained rampant, fuelled by the low interest rate environment.
I discussed with a colleague on the ground who suggested that low interest rates might see growth continue in the 5% to 8% bracket. I keep coming back to slow (and slowing) wages growth and falling mining capex and so I will have a stab at 2% to 5% growth.
The problem child - Sydney
And finally, the problem child...Sydney. After years of weak supply in the harbour city, SQM Research put the cat among the pigeons when it forecast in its base case scenario that Sydney would <a target="_blank" href="https://www.theaustralian.com.au/business/property/sydney-on-track-for-property-boom-prices-set-to-rise-20pc-says-sqm/story-fn9656lz-1226721006886">record housing price growth of 15-20% in 2014</a>, and 20-30% should Australia experience a strong economic recovery and interest rate rises by mid 2014.
Being a Sydneysider, I'm a vested interest in the Sydney market, but there has never been reason to doubt SQM's integrity (they correctly forecast market price falls in 2011, for example) and their forecast is based on some sound price-to-income logic. Sydney's housing markets were relatively more expensive in 2003 and early 2004 than they are today and thus there is certainly a chance that prices could continue unabated at the growth levels seen in 2013 until the market hits its next irrational peak.
There is a plenty of new apartment stock due to come online in certain sectors of the Sydney market (inner south, Central Park) but this is unlikely to be enough to halt the present cycle in its tracks in my opinion. However, 12 months is a long time and a lot might happen to slow the present exuberance. I'll have a stab at a more subdued 6% to 9% growth.
In fact, all of my numbers are lower than you'll see forecast elsewhere, and this is based mainly upon a gut feel that Australians will be somewhat disinclined to embrace taking on significantly more household debt from today's already elevated levels, despite low interest rates.
There will be a mass of conflicting factors such as the role of foreign capital, superannuation funds entering the residential markets and first homebuyers struggling to get aboard. But overall, a slower growth cycle is my best guess.
My best 2013 guesses therefore...
Hobart -1% to 2%
Canberra -1% to -4%
Perth 0% to 3%
Adelaide 0% to 3%
Brisbane 2% to 5%
Melbourne 2% to 5%
Sydney 6% to 9%
To be revisited in 12 months time to work out where I went wrong...
 
<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

Crystal ball gazing: Property market predictions for 2014

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Buyer’s agent Miriam Sandkuhler, founder of <a target="_blank" href="https://www.propertymavens.com.au/" rel="nofollow" style="font-size: 14px;">Property Mavens</a>, says many early-stage investors don’t understand their risk profile when they start building their folio. Sandkuhler was a finalist for the 2013 REIV Buyer’s Agent of the Year.
She says more risk adverse clients should avoid off-the-plan properties, as well as student or holiday accommodation.
{qtube vid:=m3cXd9A1li0}
“People don’t understand their tolerance to risk in terms of the type of return they’re going to get,” Sandkuhler told Property Observer for the 'How the experts buy' series.
“A high risk profile person would be someone who’s prepared to develop a property or renovate. Someone who’s more conservative and low risk is someone who’s otherwise more likely to leave their money in the bank or pay for a property in cash because they don’t like debt.”
She says buying off the plans comes fraught with risk.
“They’re to do with whether the developer gets financing, whether they’re a good builder, time frames of the development,” she says.
“It depends on the zoning of the property, if you have student accommodation or short stay accommodation that can have a level of risk.
“It means that the market from a resale point of view is a lot smaller and from a lending or a finance point of view you may not be able to borrow as much money so you’ll have to have a much bigger deposit to get into it.”
She says many investors are enticed by the idea of having as big a property portfolio as possible.
“Having multiple properties you have to manage multiple properties and there are maintenance issues that come with that.”
“If all you need are six really really good properties of a certain value then that’s all you need.”
 
Transcript
My name is Miriam Sandkuhler. I’m the founder of <a target="_blank" href="https://www.propertymavens.com.au/?">Property Mavens</a> which is a specialist property advisory firm. I’m an accredited property advisor and a licensed estate agent. And I basically work with investors to ensure they buy the right type of property for the right reasons.
People don’t necessarily know their tolerance to risk in relation to the type of return they’re going to get. Some people are much more conservative with investing than others. Some have got quite a low to moderate risk profile whereas other are higher risk profile. An example of a high risk profile individual is someone is prepared to develop a property or renovate.
Someone who’s more conservative or low risk is someone who might otherwise like to leave their money in the bank or they might like to pay for a property in cash because they don’t like debt or they might want to something very simple.
For example, if you don’t know your risk profile then it’s very easy to buy the wrong property for you profile for all the right reasons. If you don’t the type of risk attached to the type of property that you buy it’s also very easy to make a mistake.
If you buy off the plan there are a lot risks associated with that and they’re to do with very the developer gets the lending, whether or not it’s a good builder, time frames of the development. There a number of different areas. The market can go up and down. And we’ve seen a lot of that where people are settling on properties where it’s worth less than the contract price.
There are so many variables and so many risks associated with buying off the plan that most people aren’t informed off because obviously that’s not necessarily brought to light when people are purchasing in that manner.
Someone with a low risk profile probably doesn’t want to buy a development site. They may not want to buy an off-the-plan. When you understand your risk profile and you understand the risk of the property then you can make a better informed decision.
Alistair: What other properties do you think are higher risk profile?
So for example it depends on the zoning of the property. IF you have student accommodation, or short term or resort style accommodation that can have a level of risk because what it inherently means is from the market point of view the resale value is a lot smaller. It also means from a lending or finance point of view you may not be able to borrow as much money so you’ll have to have a much bigger deposit to get into it. The returns on that type of investment can be affected by the type of property it is.
Buying property is not simple. I know most people want an easy solution. It’s a little bit like going to the doctor for a headache and wanting a pill when in fact what they probably need is surgery.
So when you invest in property it’s easy to sign a contract but the process of understanding about what makes a good investment grade property and how to match that to your risk profile and having a plan in place all of those things are quite complex and they do take time and they take investigation.
I’ll often deal with clients who want to buy property but they have no clear reason as to what they want it to do. So they know it’s kind of the in thing and that’s what you do but they don’t know what the end result is. If you don’t have a plan it’s a little bit like trying to build a house without a set of plans. There’s no foundation from which to build the rest of the structure around. Having a documented plan is knowing how old am I now, when do I think I want to retire, how many years away is that. What sort of lifestyle do I want? If I want a $100,000 income it’s needing to calculate I have x number of years to accrue that. So what’s the process to get that and how many properties do I need to buy and how often do I need to buy them to meet my specific requirement. Part of that process is, I know everyone if out there spruiking buy 10 properties in 10 years. It’s not about how many properties you have. Obviously with having, multiple properties you have to manage multiple properties and there are maintenance issues that come with having multiple properties. So it’s about having a tailored plan specific to your individual needs. If all you need are six really really good properties of a certain value then that’s all you need. Unless you just endlessly want to keep going for the sake of it. Not everyone needs to have 10 or 20 or 200 properties, it’s not necessarily about that.
It’s understanding what is that asset going to do for you, what do you need it to do for you. And making sure that you’ve got a foundation or a documented strategy you can then implement and you can then measure back to that strategy. Every year you can see are you on target for that strategy, how far do we have to go so what do we need to do, when do we need to do it and monitoring that as you go.
It’s imperative to never ever sign your name to anything. Even if you have a three day cooling off, from a cautionary point of view you still want to get that looked at before you put pen to paper because there’s complexity around that. It’s law, you’re signing a legally binding contract and if you have haven’t had a lawyer or conveyance point out to you areas of risk or consideration then you’re leaving yourself vulnerable.
Again buying property is complex, you’re dealing with real estate law and legislation. If as a lay person you don’t have a really good understanding of real estate law then it’s possible to easily make mistakes that cost you money. You’re talking about needing to understand from an accounting and tax point of view before you start, how you need to structure a property; even before a name gets put on paper you need proper tax and accounting advice. Same with can you afford the property, you want to be seeing a mortgage broker who can look at your situation and work out what options are available to you and how many options there are in the market place that can help you.
The other thing is understanding that you need to be doing building and pest inspections s that before you buy the property at auction you understand the structural condition of it. There might be issues where’s the repairs or work that needs to be done so if you’ve got $20,000 worth of work on a property you need to factor that in when you’re buying or bidding on a property, you need to keep that in the back of your mind. Or at least allow for it.
If you buy a property and it’s not auction but private treaty, same thing, you want to be putting a condition in there that’s a building and pest inspection but it’s written in the favour of the buyer, not in the favour of the seller.
<a target="_blank" href="mailto:awalsh@propertyobserver.com.au">awalsh@propertyobserver.com.au</a>
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Common investor mistakes when building a portfolio: How the experts buy with Miriam Sandkuhler

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“So mum, what town is your next property development going to be in?” asked my 12 year old son. He’d just returned from a school excursion to Canberra, so maybe he was checking out land as he gazed out the bus window.

I was excited to have a question from him that actually related to property.  I’d been drumming into the kids the benefits or property investing since they were toddlers. They’ve both come on my development site inspection trips (bribed by a promise for lunch at McDonalds).  They’ve been photographed under a street sign that was named after their mum and occasionally I wondered whether any of what I did was sinking in.
But when my son asked this question I smiled because it’s actually a really good question. I’d been mulling over this recently. You see Property Bloom has been looking at widening the areas where we work and this is because there are some economic conditions changing right now in some locations around the Hunter that are specifically linked to mining.
On that subject, I was interested to see this week if our new Prime Minster would be successful in scrapping the carbon tax as promised.  But on Wednesday, Tony confirmed he hadn’t yet as Labor continued to block it. So we may need to wait until the new senate convenes July 1, 2014 to see things change. The flow on effect may not be seen in the mining industry to later in the year.  These are all fundamentals us property investors need to be aware of.
Whilst Property Bloom has been active in the major Hunter coal mining towns, most of our business is still being done in more diverse Hunter cities.  I always come back to the original city I started working in, and still develop in after twelve years. This town has a population of over 53,000 and has grown year on year for the past ten years.  It has a diverse economy, good employment prospects, is affordable with good rental demand.  The capital growth predictions are healthy.  Whilst some properties are selling quickly in this city, it will benefit from the “flow on effect” to come.
We are seeing quite a lot of heat in Sydney right now. I’ve been getting calls from investors trying to get into the more affordable areas of Sydney but who are constantly missing out on purchasing and reporting properties selling way over expectations.  This is making investors start to look at a wider radius around Sydney – which is exactly what I did twelve years ago after purchasing several Sydney properties and realising I needed a mix of negative and cashflow properties in order to continue on my investment journey.
Back then, I pulled up a map of the mighty Hunter Region of NSW and was surprised at how massive it was.  And there are lots of cities and towns that don’t meet our development criteria. For example, Port Stephens is a big part of the Hunter Region. It’s a beautiful area with bushy mountains and dolphins frolicking in the bays making it a fabulous tourism location but unfortunately, there are not enough employment prospects. Some people live there and commute to work in other areas or like my mum, have retired there. It doesn’t stack up for us to develop residential properties here.
Property Bloom is continuously assessing locations around the Hunter for development prospects and we have one on our radar right now that I think will work very well, stay tuned.

<hr>
Jo Chivers is director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
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With the mining boom slowing down, where next for Hunter Valley developments?

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Yes , the market is exploding. <a href="https://marketnews.com.au/tag/demand/" class="st_tag internal_tag" rel="tag" title="Posts tagged with Demand" style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;">Demand</a> at the moment is huge. Around 250 $1 million plus auctions a couple of weeks ago, that suggests there are around 580 would-be buyers out there hoping to snap up a property before <a href="https://marketnews.com.au/tag/christmas/" class="st_tag internal_tag" rel="tag" title="Posts tagged with Christmas" style="border: 0px; margin: 0px; padding: 0px; text-decoration: none; color: #000000;">Christmas</a>. These are the ingredients for a very strong property market ahead of us till Christmas.
Does that sound scary? Do you feel like you’re about to miss out?
Well, if you’re a player with a positive the right mental attitude, these market explosions can be happy ones, as long as you regard them with a glass half-full attitude. Why? Because this is a transacting market – one where you can actually buy and sell better than in a down market. There are lots of good properties out there – unlike last year where they were as rare as hens teeth. You just need to be able to identify the one that’s right for you, and know the strategies to be able to buy it.
Remember, even in this market when everything looks expensive– not all homes are the same. Just as in the 2007 market, there is “good expensive” and “bad expensive”. Those that buy the right home now well will be in a far better situation in 2020, than those who snap up just anything hoping to get into the market no matter what.
To those who boast that they bought a home at $200,000 lower than the private sale price all by themselves – with no valuer, no professional advice, no buyer advocate and minimal research – congratulations on buying a home at a price that nobody else wanted in an exploding market.
Buying the right house is not about getting a bargain, it’s about finding a house that is going to suit your family’s needs over the long time. Those who bought well during the last exploding market in 2007 are in a good situation today, confident they could sell their property well if they needed to, but probably not needing to because the house is fulfilling their needs long-term.
So how do you make sure you are the winning bidder on the right house when there are so many others out there chasing the same properties? As we keep pointing out, auction bidding success is not always about who has the most money or the most luck – it is about experience and strategies.
From our recent experience of buying 14 out of the last 18 homes we bid for, and not because our clients miraculously always had the most money, here are our best tips:
Do build relationships
Do get professional advice
Do eat the right foods in the morning and just prior to pass-in late afternoon negotiations
Do understand number psychology
Do recognise that it is possible to buy if your mind is right
The only two don’ts I have for you are:
Don’t buy a home you don’t want (emotionally – life is too short), and
Don’t buy a home that nobody else wants at the price without being fully informed (financially – life is also too short)

<hr>
Mal James is principal of<a rel="nofollow" target="_blank" href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
 
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The dos and don'ts of preparing to bid at an auction

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A one-bedroom apartment in Brunswick was Melbourne’s most affordable auction sale over the weekend, according to Australian Property Monitors (APM). 
Located at <a target="_blank" href="https://www.realestate.com.au/property-apartment-vic-brunswick-115137871">5/1 Sydney Road</a>, it sold for $260,000 through Barry Plant Brunswick.
Listing agent Jim Dandris told Property Observer the auction went "very well", with three registered bidders present. 
The successful bidder was an investor. 
Dandris also revealed that the reserve price was $250,000. 
He added that the property market in Brunswick is "very hot" at the moment, with great buyer activity from investors, owner-occupiers, as well as first-time home buyers. 
"With the low interest rates, owning a home has become more affordable. Buyers have ceased renting and are looking at borrowing money to buy their first home. Investors have taken money out of shares, and looking to put it back into brick and mortar. Vendors are also starting to get prices they are happy with," he said.
Prior to this sale, the apartment last sold in 2001 for $167,000. It was also sold in 1997 for $105,000, according to RP Data records. 
The apartment is currently leased at $255 per week, reflecting a yield of 5.1%. 
It was also listed for rent in 2009 at an asking price of $230 per week, and from 2007-2008 at an asking price of $210 per week, according to RP Data records.
According to the <a target="_blank" href="/news">latest RP Data report</a>, the median sale price for units in Brunswick is $397,500, down 5.4% on last year. The average discount required to sell a unit is 6.6%, while private treaty sales average 95 days on market.
The median asking rent for units is $365 per week, while gross rental yield currently stands at 4.8%.
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Brunswick cheapie sells for $260,000 reflecting 5.1% yield

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The latest mixed-use development to hit Docklands - and possibly one of the last - is the 18-storey $100 million M Docklands designed by award-winning architects Elenberg Fraser.
Located at 677 La Trobe Street, M Docklands will feature 186 apartments, two floors of hotel accommodation and ground floor retail space.
Developed by Capital Alliance Investment Group, some 30% of apartments have sold pre-launch to a mix of investors and owner-occupiers.
Two penthouses have already been snapped up, with two top-floor penthouses still on offer from $1.65 million.
Buyers will be able to design their penthouse from scratch, with the developer footing all the design and consultation costs with Elenberg Fraser.
The four penthouses will have access to an exclusive rooftop terrace on level 19.
One-bedroom apartments range in size from 42 square metres to 52 squares and start from $355,000.
Two-bedroom apartments range in size from 62 square metres to 74 square metres and are priced from $490,000.
Residents will have access to resort style facilities in the Lacrosse development next door, including a pool and gym accessed via and undercover walkway.
Levels two to four of the development will include a 68-room apartment hotel known as Peppers Docklands Melbourne.
Mantra Group is to manage the five star hotel, choosing to operate under the group’s luxury Peppers brand.
“We are very particular about using the Peppers brand on the right property, and this development presents us with an excellent opportunity to secure a presence of appropriate scale and quality for Peppers in a prominent location and we are confident it will be embraced by both locals and visitors to Melbourne,” says Mantra Group chief executive officer Bob East.
The hotel will be part of stage two of the development and will be the first Peppers property in the Melbourne CBD but will accompany four properties in regional Victoria.
Mantra Group will manage an onsite restaurant, pool and gym, with residents of M Docklands having some access to the hotel’s facilities.
Construction on M Docklands is scheduled to commence in June 2014 and has an expected completion date of mid 2016.
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Elenberg Fraser-designed Docklands development to host first Peppers hotel

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The construction sector could be on the cusp of a long-awaited recovery, with the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index recording expansion in the sector for the first time in more than three years.
The index jumped 6.8 points to 54.4 in October - passing the critical 50 point mark which indicates expansion.
‘’Consolidation over the next few months will show whether a sustained recovery will be built on the combination of renewed confidence and low interest rates during the first half of 2014,’’ Australian Industry Group director, public policy, Peter Burn, said.
He was backed up by Housing Industry Association chief economist, Harley Dale, who said: “The Australian PCI breaking into positive territory again for the first time in over three years is a milestone moment.
‘’The indications in recent months have been that this outcome was achievable, but there was a false dawn earlier in the year so this confirmation is heartening news for the construction sector. ‘’
The positive reading was led by the residential construction sub-sectors, however, all the sectors were back in the black with the apartments sub-sector recording the strongest growth in October – up 8.5 points to 66.2. Housing also rose strongly - by 3.8 points to 65.3 after a solid upturn in the previous month.
The new orders sub-index was 3.5 points higher at 54.3 reflecting an improvement in confidence and overall demand across construction in the month.
“The sharp lift of the index in October, which comes after a gradual easing of contractionary conditions over the past six months, is certainly welcome,’’ Burn said.
‘’Consolidation over the next few months will show whether a sustained recovery will be built on the combination of renewed confidence and low interest rates during the first half of 2014.
‘’The residential construction sub-sectors are showing most promise while commercial construction activity lifted from a low base and remains more fragile. Engineering construction recorded a welcome return to positive territory despite the cloud hanging over the near-to-medium-term prospects for this sub-sector as mining-related construction retreats from boom conditions.”
After his ‘milestone’ comment, Dale said: ‘’The indications in recent months have been that this outcome was achievable, but there was a false dawn earlier in the year so this confirmation is heartening news.
‘’The residential sub-sectors are leading the way. What appears a sustained improvement in both the house and apartment activity and new orders sub-indices is consistent with a broader recovery evident for leading indicators of new home building.
‘’The activity and new orders sub-indices for houses indicate further upward momentum ahead for detached house building approvals, itself a further tick in the box for a sustained new home building recovery.
‘’It will be important for recent gains in the Australian PCI to be maintained and built upon, but the results of recent months have certainly been pleasing.”
Australian PCI key findings for October:
<ul>
<li>
After almost three and half years in contraction – the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI) expanded in October lifting 6.8 points to 54.4.
</li>
<li>
Across the sub-sectors:  apartments (66.2) and house building (65.3) expanded at higher rates, while commercial construction (52.6) and engineering construction (52.7) returned to growth.
</li>
<li>
Overall construction activity lifted 5.4 points to 57.3.
</li>
<li>
New orders across the sector were stronger at 54.3 – reflecting the activity improvements across all sub-sectors.
</li>
<li>
After 40 months of decline, employment increased to 52.5 in October.
</li>
<li>
Selling prices continued to decline, although at a slower rate (48.9).
</li>
<li>
The increase in input prices was stronger in October (72.1).
 
 
</li>
</ul>
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staylor-63KgDrKwoY

Construction sector may be on cusp of recovery

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A summary of properties currently listed for sale around the country indicates that there are a higher number of properties now on the market than at any other period across 2013.
The heightened volume of stock on the market could provide future challenges, should the amount of advertised properties continue to grow.
At an individual capital city level, new house listings are growing with an increase of 3.1% from last year. For units, the number of new listings is 6.8% higher than a year ago.
<img width="470" height="234" src="/images/stories/2013/11/08/kusher-nov-8-chart-one.gif" alt="kusher-nov-8-chart-one">
By looking at total listings available for sale, the results show that there is clearly a deficiency for houses when compared to last year with listings -15.6% lower compared to units which recorded a 3.5% rise.
Across individual capital cities, new house listings are lower than a year ago in Adelaide and Hobart and new unit listings are lower in Brisbane, Adelaide and Darwin. Total listings for houses are also lower than they were a year ago in all cities except Perth and Darwin and total listings for units are lower than a year ago in Sydney and Brisbane, but higher elsewhere.
Stepping outside of these broad trends, the sharp rises in properties available for sale in both Perth and Darwin is worth noting. However, something to keep in mind is that in late 2012 and early 2013 both cities enjoyed their strongest capital growth conditions. The latest RP Data Rismark results to October show that both cities recorded recent falls in home values.
<img width="470" height="243" src="/images/stories/2013/11/08/kusher-nov-8-chart-two.gif" alt="kusher-nov-8-chart-two">
Number of houses listed for sale:
• Sydney (15,535) is lower than house listings in both Melbourne (21,492) and Brisbane (15,566)
• Melbourne also has a higher total number of units available for sale (12,135) than those in Sydney (9,013).
• RP Data listings results highlight that the total supply of stock available for sale is lower than at the same time last year.
Cconsidering that sales volumes are around 20% higher than at the same time last year it’s no wonder that we are seeing upwards pressure on home values.
Lately we’ve seen listings start to climb and it will be interesting to see how this unfolds and whether they remain elevated into 2014, or, if we see moderation such as that recorded at the start of 2013.
The charts address the number of unique new and total residential properties listed for sale at a national level where over recent months it can be seen that there has been a trend towards a higher number of new and total property listings.
<img width="470" height="248" src="/images/stories/2013/11/08/kusher-nov-8-chart-three.gif" alt="kusher-nov-8-chart-three">
Currently there are 49,920 new properties listed for sale and 267,114 total properties listed.
• New property listings are at their highest level since the week ending 9 December 2012 and total listings are at their highest level since the week ending 23 December 2012.
• Although both new and total listings are currently at heightened levels, new listings are only 0.5% higher than at the same time last year while total listings are -10.2% lower than a year ago. Over the past four weeks, there were 30,997 new capital city properties listed for sale and 117,426 total property listings.
• 62.1% of all new listings were in the capital cities compared to just 44% of total listings. This is reflective of the stronger overall housing market conditions within capital cities and the subsequent fact that homes are selling quicker in these regions. Compared to the same time last year, new property listings are 3.5% higher and they are at their highest level since the final week of November last year.
• The number of properties available for sale is higher than it has been throughout 2013. The heightened volume of stock on the market could provide future challenges, should the amount of advertised properties continue to grow.


<hr>
 Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
 
 
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More homes on the market than at any point this year

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South Fitzroy has never been short of character or characters for that matter. Everyone from Mary McKillop to Squizzy Taylor has been part of its social history and despite its recent gentrification it still has one of the most ethnically diverse populations in Australia. It doesn’t surprise therefore that its urbanism also has an equally diverse character.

In The Fitzroy Historical Society’s terms South Fitzroy’s “compatible mix of light industry and residential housing”, was developed progressively over time in tune with its cultural and economic history. On the other hand Robin Boyd’s broader fulmination of Melbourne’s inner suburbs as “a dressmakers floor strewn with the snippings of style”, suggests a cacophony of tasteless ignorance.

Both descriptions paint the picture of a diverse urban character, though from diametrically opposite points of view. The operative interpretation used by Yarracity Planning however is based on the South Fitzroy Conservation Study which describes the precinct as one of Melbourne's most historically intact and of a “predominantly nineteenth century character”. This implies a consistency of urban form South Fitzroy simply doesn’t have. The diversity of its nineteenth century character which manifests a broad variety of different styles, building types and scales is all but ignored. Nor does it acknowledge the post war industrial architecture or the subsequent modern expressions that pepper its fabric with increasing regularity as one ventures north. Alas this conservation study which favors a consistency of urban form has been used as the basis for Neighbourhood Character regulation in the precinct.

Having practiced there for twenty five years and conducted urban character studies for numerous projects over that period, my view was that its character is a form of “urban sampling” or “jazz”, where streetscapes are expressed in syncopated rhythms of different architectures and scales. To me its urbanism read as a authentic register of the cultural and socio economic forces that shaped it. Its syncopation was in my view the essential aspect of its character because it reflected the rhythms of a uniquely Australian urbanism, not the shrill of “the violence of artistic conflict”, and the abject lack of taste this Boyd phrase implies.

This was (until the planning profession got hold of it), an honest urbanism unaffected by the dress code of the comparatively refined European urban preferences which planners have increasingly been regulating for since the early nineties. Their preference for more regular rhythms with gradual transitions is as much a nostalgia for European urbanism as it is the denial of Australian identity. Effectively urban character regulation amounts to a form of urban averaging which splits the difference between adjoining heights and set backs for infill development. Streetscapes that have been shaped by in this way read as a form of urban correctness, with upper floor setbacks and chamfers that is neither European nor Australian. The result is twee.

Aside from the differences in aesthetic preference embodied in the urban character interpretations above it is important to note that they predominantly recognise urban diversity as the essential common factor. It is remiss therefore that conservation and urban character studies focus on establishing urban similarities and consistency to determine a particular urban character and it is unfortunate these regulations have been used as a basis for the new Residential Zones gazetted in Victoria on July 1st 2013.

Sceptics could assert all of the above interpretations are on a par with reading tea leaves since they rely more on the bias of the observer than on the observed. They would be correct in reasoning the dilemmas in determining tendencies of either urban similarity or diversity is akin to questions of “is the cup half empty or half full”, since the adjudicator’s preferences rather than accurate measurement determines these answers. It is important to note however that assuming our cities survive the next millennium urban diversity will obviously be impossible to avoid.

The political expediency of the new residential zones which endorse NIMBY activism to limit both densities and heights in inner suburbs whilst promoting them in areas where there are few residents, like Fishermens Bend, Docklands and E gate, for example, could not be more transparent. It concentrates heights and densities where opposition is limited and limits them where opposition is great. This NIMBY legislation is being sold on the basis of democratic principles, and planning innovation. The truth is that Victoria’s planning policy is NIMBY inspired.

<figure><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/PastedGraphic-4.jpg" rel="gallery-all" title="The Artist"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/PastedGraphic-4.jpg?itok=EBC6zlVx" title="The Artist" width="580"></a>

<figcaption>The Artist</figcaption></figure>Here democracy has been used as the decoy for a lack in political leadership, since the city’s liveability and its cultural and social prosperity depends on its function as a whole, not on the political clout of inner city lobby groups. Ironically it has been the greens who have lead the charge on limiting inner city heights and densities, contradicting their platform on carbon reduction.

These questions of character and how they are determined has prompted the following summary on “NKYA”, akka “The Cheesegrater”, now “The Artist”, dubbed the test case for Labour’s new planning policy 2030 back in 2002, when it made headlines. Then NKYA successfully challenged neighbourhood character regulation which will now become entrenched, gaining substantial legislative force when Residential Zones are implemented in Victoria on July 1st 2014.

In 2002 when the planning application was lodged, Neighborhood Character Policy in Yarracity had been in operation for the best part of seven years and the bulk of proposed medium density projects in the inner suburbs, (irrespective of their compliance or otherwise), were vigorously objected to on the grounds of breaching character guidelines.

In expectation of a massive backlash, I completed a comprehensive urban character study immediately surrounding the site also incorporating large tracts of South Fitzroy.

The study comprised a bound volume of several hundreds of photograph’s and a preface that reinterpreted South Fitzroy’s Neighborhood Character as one of diversity. It rejected both the south Fitzroy conservation study and Boyd’s “Australian Ugliness”, proposing an affirmative interpretation of Australian urbanism.

The planning process that followed was punctuated by a succession of name calling that served as a sardonic echo of the contradictions inherent in the administration of the planning process. “NKYA” was chosen in demurral of the status envy branding that real estate advertising revels in. Composed of the first letters of the streets surrounding the site, Napier,Kerr, Young and Argyle, the acronym expressed a neutrality that rebutted the hollow marketing of real estate hype that sells the sizzle and forgets the sausage.

<figure><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/PastedGraphic-6.jpg" rel="gallery-all" title="The Artist"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/PastedGraphic-6.jpg?itok=OiR3FXrI" title="The Artist" width="580"></a>

<figcaption>The Artist</figcaption></figure>Objectors responded with “The Cheesegrater” which prevailed, until “The Artist” was coined by a new development consortium. This prompted objectors to insert “Bullshit” between adjective and noun on the numerous advertising billboards surrounding the site proclaiming it “The Bullshit Artist”. I would like to think this obvious reflex was in contempt of the expert witness evidence presented at the eight day VCAT hearings where heritage, planning, traffic and architectural witnesses diametrically opposed one another’s views on professional grounds.

The quasi legalese of the VCAT system belies the inherent hypocrisy of the process where experts contradict each others evidence with panache. In this case, against the councils refusal, the wishes of three thousand objectors and the contrary arguments of opposing expert witnesses supporting the South Fitzroy Conservation Study, the panel members were persuaded by the notion of Urban Sampling or Jazz. Controversially, they granted a permit justifying their decision in terms of the supporting neighborhood character study and because in their view, NKYA was an exemplary design.

In 2011 I revisited the ironies of the experience in an exhibition titled “Boyd’s Error Planning’s Curse” expanding on my observations with an essay illustrated with collaged photographs of three kilometers of Fitzroy’s primary streetscapes. The exhibition expanded on the original neighborhood character study with an analysis by comparative reference.

It consisted of three rows of images mounted one above the other. The bottom row speculated on what may have become had contemporary planning regulations prevailed from the genesis of South Fitzroy, thereby promoting greater consistency of period, scale and character. The middle row illustrated the 2011 streetscape current at that time and the top row speculated on what might become if the regulations were relaxed and broadened to embrace the future.

The exhibition audience was then invited to choose between the three rows and on the evidence of their reactions, the overwhelming majority preferred the top row. Obviously, exercising preferences to simulations of theoretical pasts and futures in a gallery is one thing, and deciding on whether to object to a multi storey development next door, entirely another.

This contradiction of human behavior encapsulates the ironies of NIMBY urbanism which has become the subtext of Victoria’s planning regulation. When the democratic process fails in this way it is a sure sign that the system is in need of review. It is unfortunate that our most respected professional institutions, urban theorists and commentators are seldom listened to by government since heir recommendations measured against the weight of public opinion have virtually no political clout.

It doesn’t help that the political prism through which urban affairs reporters project their gaze on the public, makes urban planning policy look like a frightened rabbit in full flight as it dodges hounds from lobby groups on every side of politics zig zagging over the different political terrain of their vested interests. Making this important urban debate look like an intriguing battle between humble residents and ethically bereft developers sells newspapers and though it gives voice to respected urban commentators they remain voices in the wilderness, serving no other purpose than preserving the notion of free speech.

The consequences can be appalling. In this case planning delays were responsible for NKYA’s 30% price hike by the time it was sold off the plan in 2009. The delays were in part consequent of the 2004 housing downturn that spiraled after the spectacular collapse of Henry Kaye’s 120 company property spruiking empire.

<figure><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/PastedGraphic-5.jpg" rel="gallery-all" title="The Artist"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/PastedGraphic-5.jpg?itok=WAR978lJ" title="The Artist" width="580"></a>

<figcaption>The Artist</figcaption></figure>If the prolonged planning process had not ensued, apartments could have been sold a year prior avoiding the downturn. As a consequence NKYA was shelved until 2006 when a revised development consortium submitted new designs which VCAT refused. Several aborted re-submissions of the new design followed eventually prompting the new consortium to restrict their amendments to the internal courtyard and interiors. Maintaining the integrity of the original street facades they successfully submitted these revisions as an amendment to the originally approved planning permit.

Planning consultant, Tim Biles, described the final outcome as being “so similar to the original as to be considered practically identical”. By this he meant that “the ordinary man or woman in the street” would not be able to tell the difference.

It wasn’t until late 2011 that the construction of its upper levels were completed, marking the tenth anniversary of the year in which its design had begun. By the time sales commenced, inner city apartment prices had risen from six thousand dollars per metre to between eight and ten thousand dollars per metre, a cost that would be borne by the public. To this we can add the substantial taxpayer funded administrative costs of VCAT and Yarra City Council plus their consultant fees paid to opposing planners, heritage architects, barristers and other consultants representing objectors.

If NKYA, the Cheesegrater, the Artist or Bullshit Artist whatever else you may be inclined to call it, was an exception rather than the rule, then the planning process it was subjected to would be no less hypocritical or an outrageous waste of time and money. The tragedy is that minor two storey additions often suffer the same fate.

<h2>Postscript</h2>

In asking a former Yarracity mayor who lead the opposition against NKYA what he thought of “The Cheesegrater” a decade on:

<blockquote>
My views of the Cheesegrater are that I think it takes time to bring a community around to accepting change, and that it rarely occurs within the timeframe of any particular individual project.
<cite>Councilor Geoff Barbour</cite>
</blockquote>

The three hundred or so residents who now live at “The Artist”, have formed a strong community, they love it, however if something of the same height was to obscure their views next door, they would all of course passionately object.

<figure><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/PastedGraphic-7.jpg" rel="gallery-all" title="The Artist"><img alt="" class="image-article-full-width-580px" height="870" src="/sites/urbanmelbourne.info/files/styles/article_full_width_580px/public/pictures/article-images/PastedGraphic-7.jpg?itok=1jCgkE08" title="The Artist" width="580"></a>

<figcaption>The Artist</figcaption></figure><a href="https://en.wikipedia.org/wiki/Ivan_Rijavec">Ivan Rijavec</a> is an acclaimed Australian Architectural and Urban Designer and managing director of <a href="http://www.rijavec.com/">Rijavec Architects</a> and <a href="http://www.citiniche.com.au/?refer=urbanmelbourne">Citiniche</a>. He has received numerous Merit Awards and been widely published in numerous books, journals and web platforms. He is fellow of the Australian Institute of Architects and is a sessional tutor at RMIT.
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