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

Lowe Living launches Jardin House in Camberwell

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

The Walden pairs house-scale living with North Sydney connectivity

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

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

ACT abolishes stamp duty for first home buyers

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

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Hills Holdings has sold its office and warehouse complex in Sydney's Riverwood for $9.7 million. 
A private investor/owner occupier purchased the industrial complex, at 8-12 Wiggs Road. 
The complex sits on a building area of 8,902 square metres, over six separate buildings on a large land parcel of 2.18 hectares. It includes six buildings comprising of a 3,220 square metre warehouse, a 2,330 square metre office/warehouse, a 1,054 square metre office/warehouse, a 1,195 square metre office, an 809 square metre office/warehouse and a 291 square metre warehouse.
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795891" target="_blank">8 Wiggs Road, Riverwood</a>
{yoogallery src=[images/stories/2013/10/02/riv]}
 
<a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-riverwood-500795887" target="_blank">10-12 Wiggs Road, Riverswood</a>
{yoogallery src=[images/stories/2013/10/02/riv2]}
 
Paul Mileto and Eugene Evgenikos of Knight Frank negotiated the deal.
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Hills Holdings let go of Riverwood office and warehouse complex

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For well over a decade I have been grappling with property markets consistently showing us the increased performance of concentrated inner urban areas, particularly those that are in a close proximity to the CBDs of our major Australian cities.  
But there’s really no point fighting against it. The fact is, CBDs are the highest performing areas, and that makes them the key areas for investors.  
When looking at investing in your first, second or hundredth property, the location is always the most important factor to take into account, and there’s always going to be an element of risk when making that decision. The whole notion of investing applies an assessment of risk, but I would argue that that risk is mitigated by investing in areas which have robust employment, infrastructure and lifestyle choices.  
Mining towns may seem like the prime area to make a profit, but there’s no promise that these areas will still be populated and have a reliable stream of tenants in 10 or 15 years’ time. But in our inner cities, you know that this will always be the case – and that’s a fact!  
The buyer’s agents in my business specifically look for properties within a five-10 kilometres perimeter of the CBD. The reason for this? People will always cluster where trade and commerce present themselves.
Cities form around landscape and natural bounties such as beautiful harbours and inlets, they’re nice places to live and people are social and community-based creatures - they relish in living near the action. In fact, the old cities around the world show how communities of all racial, cultural and religious backgrounds thrive in these cities.  
This very phenomenon has been played out across the world, city after city, on every single continent in the world and is our key to success. It is your guarantee that we too will populate our cities in exactly the same way as places like London, New York and Shanghai.  
The land in capital cities will always be an asset that will grow in demand.  
At present, I stick to the top six cities in Australia in order of population:  
1). Sydney
2). Melbourne
3). Brisbane
4). Perth
5). Adelaide
6). Gold Coast  
I usually recommend heading for Sydney or Melbourne to consolidate the core purchasing strategy. Australia is now one of the most urbanised countries in the world, with 89% of our population living in urban centres and investing in these areas will almost definitely offer you the most upside to your 10–15 year plan.
Go where the land is scarce and, once you’ve decided on your area, ask yourself the following questions before purchasing.
a). Where is the employment centre of the city?
b). Is there a diversity of employment in this region?
c.) What is the history of this employment, i.e. does it ebb and flow or is it historically always strong?
d). Can I buy close to good infrastructure, or if the citizens of a city are better serviced elsewhere, what is stopping them from leaving?
e). What is the history of infrastructure in this city? I.e. how has the government [state and local] achieved the objectives set by its citizens over a good (minimum 15 years) period of time?  
Once you know these answers, you’ll know if you’re in an area that will grow and thrive – and your property will grow and thrive with it. A safe bet for anyone entering, or well experienced, in property investing.  
 
<hr>
 Gavin McPherson is the CEO of <a target="_blank" href="https://www.oasisproperty.com.au/oasis-buyers/oasis-property-buyers.php">Oasis Property</a> and author of "Value Investing in Property: What would Warren Buffet do if he was investing in property in Australia?"
 
 
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Some things never change; inner city investment is the best bet: Gavin McPherson

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I wrote a few weeks ago about <a target="_blank" href="https://www.propertyobserver.com.au/economy/are-we-in-a-dwelling-boom-a-rally-bubble-or-a-recovery-inside-our-bubble-mentality-catherine-cashmore/2013081864317">housing bubbles and the misconceptions commonly related to the term</a>.  A bubble is typically an illusion of economic strength which draws buyers in, whilst masking underlying fragilities - and in some areas of Australia, the recent investor lead rally in property prices from an already inflated base is concerning.
However, unlike other economic bubbles, housing markets have plenty of complexities which can delay a severe correction – not least the stimulus of easy monetary policy, incentives, and speculation buoyed on by tax policies that encourage heated investor activity in the established housing terrain around our most desirable capital city locations.
Even in markets where housing has suffered dearly from the 2008 financial crisis, such as the UK, and USA, there is a fragmented nature to the falls dependent on location and the openness to attract foreign speculation.
In the south-eastern regions of England for example, where foreign money has propped up London’s prime central market creating a ripple across the outer lying suburban towns, the falls in capital have been far less severe than the northern districts where the market has dipped some 20%, and in regional areas, even more.
Not that this has in anyway helped Briton’s younger population who are now commonly termed ‘generation rent,’ with the numbers of unemployed living in the family home almost doubling between 2008 to 2012, and the productive areas of economy failing to pick up fast enough to drive innovation and generate new sources of growth.
Although house prices in the UK have started to rise again with the help of various schemes such as ‘funding for lending,’– other areas of productivity aren’t fairing so well.  As UK regulator Lord Adair Turner pointed out in a recent speech to London’s central bankers and economists, only 15% of total financial flows in the UK have gone toward investment projects, the rest have instead been used to support unsecured personal finance or existing assets - significantly real estate.
However, do we really fair much better in Australia? Our low interest rate environment, coupled with a honeymoon period of post-election confidence, is predictably forcing investors to seek out any area of imagined opportunity that can provide a better return on their dollar.
This runs the risk of stimulating higher levels of household debt (currently at around 150%) directly tied to speculative behaviour.  And in the Australian culture which veers towards the perceived safety of bricks and mortar, based on the somewhat fool hardy view promoted widely in the industry that limited supply and rising population growth can forever prevent a sharp correction, you don’t need a second guess as to where a large proportion of undiversified debt is currently being allocated.
Some interesting research was released last week by Jonathan Mott of financial services firm UBS, highlighting the above point aptly;
“If we compare Australia, New Zealand and the UK, all three countries have similar cultures, demographics and home ownership. However, investment property contributes 32% of Australian mortgages, 20% of NZ mortgages and 12% of UK mortgages. ….57% of Australian landlords are leveraged (ATO data suggests this is closer to 81%) compared to 28% in NZ and just 13% in the UK”
This would be less of a concern if effective supply was keeping pace to soak up the overflow of demand, and thereby reduce volatility in values. However, in areas of limited supply, the bubbly nature of the price gains disproportionally advantages those with existing assets, at the expense of those struggling to get a foothold.
When viewed against a less than desirable economic backdrop of rising unemployment, an unwinding mining boom, and weak wage growth, with a rise in the cash rate at some future point inevitable, you’d be foolish to think the current trend can continue without some correction.
Notwithstanding, our politicians continue to miss the point, as Tony Abbot said on 3AW last week;
“Don’t forget … if housing prices go up, sure that makes it harder to get into the market, but it also means that everyone who is in the market has a more valuable asset,”
What a sad world it is, when the most essential item young and old aspire to alike, for both their health and continued well being, gradually becomes less affordable over time, requiring a greater level of debt to be serviced despite the somewhat falsely perceived advantage, that low interest rates somehow make the buying environment and purchase of property easier.
And yet as a direct consequence, we have falling rates of ownership – particularly in the younger generations, an increase in overcrowding of accommodation, rising waiting lists for social housing, and the average age of ownership for those not benefitting from a gifted deposit, pushing closer to 40 years.
The housing market no longer revolves around promoting home ownership for the sake of personal well being, it’s Australia’s largest domestic asset class with an aggregated value of over $4 trillion, and understandably it’s now suggested that ASIC should recognise it as such.
Countless hours can be spent arguing what the term ‘bubble’ actually means – definitions are numerous. Equations are done regularly comparing price to rent, debt to GDP, price to wages (a somewhat skewed calculation due to the inclusion of compulsory super,) however do we really need a meteorologist to tell us what the weather’s like outside?
Whether you call it a bubble matters not, Australian house prices have been pumped up with many ingredients over the decades to get to such elevated levels.  As a result, we have a market that is both overpriced and undersupplied, with the first home buyers' share of new home loans sitting at its lowest point in a decade.
Monetary policy alone is a blunt instrument, and whilst Governments can allocate at their discretion where to spend our tax dollars, they have limited influence on where cheap credit is spent, or for which asset it is lent into the economy.
Nor do they currently have the ability to direct it into areas where it’s needed most – which in terms of housing would principally be construction. Hence why the sector continues to call out desperately for another rate cut.
Instead buyers are punting a lot of unproductive dollars on second hand houses, and the proportion of cheap money finding its way into a limited pool of dwellings, should not be brushed aside as merely part of a typical property cycle, when we have a number of economic and social factors combining, which left unregulated, have the potential to create the perfect storm.
<a target="_blank" href="https://www.afr.com/p/blogs/christopher_joye/why_we_should_be_worried_about_australia_9gqc2CPE2hrAcikkRvyOGM">Much commentary has been written on this matter of late</a>, and it’s not isolated to Australia. The Bank of England this week voiced how it was watching the UK market “closely” as price rises in London reached 10% in the year to July, warning “that if risks to the stability of the financial system were to emerge from the housing market, both it and the micro prudential regulators had a range of tools available to address those risks."
However, the RBA continue to sit on their hands, not wanting to pull a regulatory lever, instead taking on a stern expression and wagging a finger at investors whilst pleading with them to employ caution, as if they will all fall into line like a bunch of secondary school kids in a playground.
This idea that investors will employ a sense of rationality is ambitious in a market that has corporate regulator ASIC, once again warning against the propensity of spruikers.
But even without these spruikers buyers face difficulties - fed daily with house price statistics from RP Data. Closely comparable sales data is not readily available – computer generated “estimates” are a guess and more often than not, hopelessly inaccurate.
Furthermore, there are plenty of other variables that need to be assessed prior to investing in any residential listing.  Prospected development projects which may spike the stock being taken to market, thereby diminishing the level of capital growth being assumed based on a cursorily look at historical data.
Local vacancy rates, the time on market you can expect your rental property to reasonably sit before finding a tenant, the predominant area demographic any said property will appeal to in order to attract and maintain consistent buyer demand - the list continues.
I mention this, because the broader implication of a large proportion of inexperienced buyers making unwise acquisitions without educated due diligence, is a worry unto itself. However, the number of real estate investors is set to rise. Although presently, only a relatively small proportion of total investment in the property market stems from SMSFs, it’s going to rapidly increase.
As mentioned in the AFR this week, the most mobile pot of cash is in the self-managed super system. About one third of the $500 billion in SMSFs is held in cash, or about $150 billion.
On the back of this, there is a theory that self-managed super will have a mean reversion to normal cash weightings of about 10%. If that proves accurate, about $100 billion in cash will move – leading to the question –where will it move?
As it stands, only 23% of investment into residential property comes from SMSFs, against 77% invested in commercial.  Albeit, when the direction of that percentage is into established areas suffering an elastic band of restricted supply, the recent boom in Sydney for example, against the backdrop of slow credit growth - will have no doubt been exaggerated by SMSF demand.
However, banking regulation aside, our politicians should be moving to restrict policies that encourage disproportionate speculation, such as the tax treatment of negative gearing (which should be phased out) and capital gains, or implementing a transition toward a broad based land tax system which is long over due.
My only comment to those with short-term spectacles on who think the recent boom is good news - enjoy it whilst it lasts, because I suspect it won’t end without unpleasant consequences.

<hr>
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
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Enjoy the housing boom while it lasts, it won't end without unpleasant consequences: Catherine Cashmore

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Housing bubble?  Give me a break.
I forewarned a few weeks back, that we might see an increasing detachment from reality as this residential market recovery takes hold.
I was thinking it would start in earnest sometime next year.  But it looks like I was wrong.  The loopers are already at it and in force.  Lord help us when we actually see some real heat in the overall housing market.
Just the normal noises
For the record, Sydney house prices are up 8.3% over the past 12 months according to RP Data, but were up only 1.2% last year and were down 2.4% in 2011.
As for the rest of the country, Perth is up 7.9% for the year but down 0.5% last month while Melbourne is up 5.4% for the year and the Brisbane-Gold Coast region is up a measly 1.8%.
Hmmm, a housing bubble indeed.
Yet we now have the IMF – yes those clowns – planning to visit Australia (to help get a suntan, I suggest, rather than anything else) to determine if Australia is in deep throes of a housing bubble.
It was just two months ago, when we were still waiting for Australia’s housing market to bust.
For mine, what we are experiencing is the normal machinations of the property cycle - nothing more, nothing less.
Valuations are often short at the recovery stage of the cycle.  They sometimes overshoot near the peak.  There are many issues regarding valuations in Australia.  We have written about them several times.  Go <a href="https://matusikmissive.com.au/2011/06/01/queensland-site-valuations/" target="_blank">here</a>, <a href="https://matusikmissive.com.au/2011/11/16/a-tale-of-two-buildings/" target="_blank">here</a>, <a href="https://matusikmissive.com.au/2012/02/22/bank-vals-101/" target="_blank">here</a> and <a href="https://matusikmissive.com.au/2012/05/16/modern-marketing/" target="_parent">here</a> if you have nothing much better to do.  
Development, redevelopment and renovations 
One of the problems with house price reporting is the way prices are measured and more importantly what influences the rise (or fall) of both median and mean house price figures.
New development or redevelopment often causes the middle and average price to rise, without seeing resale values increasing much at all.
This is what often happens around key infrastructure, such as railway stations.  New projects lift the median/mean values, whilst resale prices remain flat at the time of new development/redevelopment.  The same can be said about weekly rents.  Base property values/rents often rise faster closer to core infrastructure, but the overall residential cycle must be on the improve.
A similar trend can be found in many areas affected by flooding across Australia in recent years.  Many of these areas, especially in Queensland, have now been redeveloped.  This has seen new properties replace older stock.  Median/mean values have often risen as a result.  But many owners in these areas, who are trying to resell flood-affected but unimproved homes, cannot get much more for their property than they originally paid for it.  They are often getting less than they most likely would have if they sold just prior to flooding.
Median and mean housing prices are also affected in the same way when it comes to individual house renovations.
Many areas across Australia are experiencing a renovation surge.  Areas which are going through his swell of reno activity are seeing a strong lift in suburban median and mean prices.  But when you factor in the cost of the renovation itself (and especially if you include your time at a commercial rate), then the true uplift in financial gain is far less than the headline suburban price growth being touted.
It is true that a high and consistent proportion of renovation work across many homes in an area, is a good thing in terms of improving the underlying investment potential of a location.  It is another of<a href="https://www.propertyobserver.com.au/news/forget-hotspotting-lists-you-need-to-dig-a-lot-deeper-michael-matusik/2013092565254" target="_blank"> our key 10 measures which helps us determine the strength of a place’s underlying investment clout</a>.
Such activity suggests that owners are ‘placing money where their mouth is’, so to speak; which in turn often leads to more owner-resident resale interest; which increases the actual size of the resale market and in due course, can help get a much better price on resale.  But it takes time for the base value of property in such an area to increase.
New development, large scale redevelopments and major renovation activity cause median and mean values to rise.  But this isn’t the same as seeing the base value of the existing, unimproved housing stock increase in a certain location.
When we see rapid increases in the base value of residential property, and across widespread areas, then we are experiencing boom-like conditions.
I suspect that - outside of a certain areas in Sydney and Perth, maybe parts of Melbourne now – the base value of Australian housing isn’t increasing much at all.
But the IMF and the  newspapers will be telling you otherwise.
 
<hr>
Michael Matusik is the founder of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.matusik.com.au/">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.
Read <a rel="nofollow" target="_blank" href="https://www.matusikmissive.com.au/">Michael’s Blog</a> or follow him on <a rel="nofollow" target="_blank" href="https://www.facebook.com/ThinkMatusik?fref=ts">Facebook</a> and <a rel="nofollow" target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> or connect via <a rel="nofollow" href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
 
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Housing bubble? Give me a break: Michael Matusik

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One of Port Melbourne’s newest developments, Aqueous, is 90% sold as construction kicks off.
The $24.7 million development by Prince Developments on Nott Street will feature 41 apartments across six levels.
Architecturally designed by ROTHELOWMAN, inspiration has been drawn from the Port Melbourne area and the inherent connection to the beach and the movement of water.
“The façade has depth thanks to carefully placed voids enabling internal spaces and surfaces to be revealed, while permitting light and ventilation as well as protection from the elements,” says ROTHELOWMAN principal Shane Rothe.
“This allows privacy to tenants while encouraging activation to the street frontage,” says Rothe.
Peter Mitrevski managing director of Prince Developments says Aqueous has attracted a mix of both owner-occupiers and investors.
Aqueous offered a mix of studio, one- and two-bedroom apartments as well as penthouse style apartments.
One two-bedroom apartment remains for $750,000 and is 85 square metres in total.
Two one-bedroom apartments remain, priced from $475,000 and range in size from 53 square metres to 60 square metres.
Aqueous has a scheduled completion date of October 2014.
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Construction on Rothelowman-designed Aqueous kicks off

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For all our talk about housing affordability, few people want house prices to drop. That’s because most Australians are home owners, and much of our wealth is stored in housing.
But recent figures released by the <a target="_blank" href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/4130.0">Australian Bureau of Statistics (ABS) </a> suggest a growing divide between those enjoying the financial benefits of home ownership, and those who may never be able to afford it.
Overall home ownership rates slipped from 69% to 67% between 2011-2012, signifying real change in Australia’s housing system. Age-specific home ownership rates have seen much sharper falls.
Since the Survey of Income and Housing began in 1995, home ownership rates have hovered between 71%-69%, although the proportion of home purchasers (people with mortgages) began to exceed outright home owners in 2004.
By this time Australia’s long housing boom (between 1996-2005) had begun to play out. Younger generations took longer to enter home ownership and needed to take on larger mortgages. As housing equity grew with the rising market, established households tapped into their home loans to finance other purchases, again meaning longer and bigger loans.
While some speculated that Gen Ys were avoiding the responsibilities and commitment of home ownership by choice, a <a target="_blank" href="https://www.coop.com.au/media/white-paper-august-2013.pdf">recent survey</a> of Australian university students reveals that home ownership remains an overriding aspiration for younger people. However, affordability (saving a deposit and meeting repayments) is a major concern for these students. Despite relatively bright employment prospects they fear they may never be mortgage free.
Housing and wealth
Home owners are vastly more wealthy than renters. The <a target="_blank" href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/6523.0Main%20Features22011-12?opendocument&amp;amp;tabname=Summary&amp;amp;prodno=6523.0&amp;amp;issue=2011-12&amp;amp;num=&amp;amp;view=">latest ABS figures show </a>that the net worth of renter households was on average only about 13% of that enjoyed by owners with no mortgage, and about a fifth of the net worth of home purchasers.
Housing equity through ownership has provided an important nest egg for older Australians, with baby boomers the main winners in the housing market. Not only did they buy when prices were far more affordable, but family homes barely affect eligibility for the aged pension. If some retirees might over-invest in their castle, others are using super to pay off their home loan.
But although older Australians generally live in their own homes, home ownership among the over-55s has fallen too. This reflects changing household circumstances. Divorce is one of the flashpoints for falling out of home ownership, especially for women, and many are unable to climb back on the ladder. Older, lone person households are more likely to be in private rental than couples, and their financial future seems grim.
Falling rates of home ownership point to a looming problem. Government expenditure on older people, particularly the relatively low rate for the aged pension, depends on minimal housing costs and the capacity for co-payment (for care) by accessing home equity when the time comes. If older people retire with mortgage debt, and worse, without housing equity, ongoing government obligations for income and housing related payments will rise sharply.
More renters, less equity
The new data shows that while renting was once considered a transitional tenure, the proportion of renters is now roughly equal to the numbers of outright home owners (30.9%), down from nearly 42% in 1995. The proportion of households renting from a private landlord has grown from 18% in 1994-95 to 25% in 2011-12.
Households in public or social housing has fallen from 5.5% to 3.9% over the same period, exacerbating the shortage of affordable homes. Rather than investing in new social housing construction, government housing assistance has shifted to rental subsidy to help low-income earners afford rents in the private market.
Government subsidies for home ownership (largely through <a target="_blank" href="https://www.bsl.org.au/pdfs/Yates_tax_expenditure_and_housing_2009.pdf">preferential tax treatment</a>) amount to around $8,000 per household per year, but renters get only around $1,000 per year. Support for property investment equates to an additional $4,000. All up, that means in excess of <a target="_blank" href="https://www.rba.gov.au/publications/confs/2011/yates">$45 billion</a> for home ownership compared to around $8 billion for renting, including concessions for private landlords through negative gearing.
There’s a generational aspect here too – renters and younger home purchasers get much less than older, higher-income home owners without mortgages.
Worse, as the Henry Tax review highlighted, many of these incentives for property investment push up house prices, further disadvantaging aspiring first home owners.
In 2009/10 only 5.2% of houses sold were affordable to those on lower incomes, and 60% of low-income private renters were in housing stress (when housing costs exceed 30% of income). Overall homelessness has grown 17.3% since 2006, with more than 105,200 Australians sleeping rough, couchsurfing, in crisis or temporary accommodation in 2011.
A fairer housing system
In election season, it’s disappointing to see that housing hasn’t really made it on the radar. What can be done to make things fairer?
It’s time to consider real changes to benefit the growing numbers of renters in Australia. The major differences between living in your own home and renting, relate to tenure security and wealth. <a target="_blank" href="https://www.shelter.org.au/index.php?option=com_docman&amp;amp;view=docman&amp;amp;Itemid=487">Reforms to tenancy laws</a> in each state might improve security for private tenants, making rental housing more a choice than necessity.
The <a target="_blank" href="https://taxreview.treasury.gov.au/content/finalreport.aspx?doc=html/publications/papers/final_report_part_1/chapter_12.htm">Henry Tax Review recommended</a> a number of changes to housing and related taxes, including negative gearing, capital gains and land tax and stamp duties. The review also recommended extending the Commonwealth’s rent assistance scheme for lower-income households, while warning that initiatives to increase the supply of housing affordable for low and moderate-income earners are needed.
We’re still waiting for the tax reforms, so what about affordable housing supply? Demand for housing is concentrated in established, inner-city locations accessible to transport and jobs; where supply is inherently constrained. So, just increasing the overall number of new houses produced in Australia won’t fix affordability problems for those currently locked out of home ownership.
Specific strategies to target the production of housing affordable for these groups are needed.
The federally funded <a target="_blank" href="https://www.fahcsia.gov.au/our-responsibilities/housing-support/programs-services/national-rental-affordability-scheme">National Rental Housing Affordability Scheme </a>(NRAS) is worth keeping. It provides tax credits (worth $100,000 per dwelling) to investors or community organisations who build and rent dwellings for low and moderate-income earners, at 20% below market rates.
South Australia, WA and the ACT have all introduced programs to increase the supply of affordable homes for purchase, combining planning requirements and incentives, and in some cases, government land or equity sharing.
Design initiatives
Ingenious design may also help. With smaller households and more people preferring to live in inner-city areas near transport, jobs and services, some designers are experimenting with smaller, cost-effective and high-density housing prototypes.
Cash strapped, tech happy Gen Y’s keen to stay in the hood will like the new <a target="_blank" href="https://yo.co.uk/">Yo!Home</a> hitting London right now. A single room transforms to kitchen, diner, lounge or boudoir at the push of a button. It’s cramped, but facebook friends hang in virtual space.
For others, a prefab backyard flat might appeal. Changes to the NSW planning system mean small accessory dwellings (AKA granny flats) are now permissible on most residential lots.
It’s about making sure there’s sufficient housing of all sizes, types and costs in well-located areas. Extending the range of housing options also means sensible and committed strategies for planned decentralisation, in selected suburban and regional centres.
Home ownership rates in Australia have fallen, threatening to deepen the wealth divide. But it’s not too late to make things fairer for aspiring home owners and long-term renters alike.
 
<hr>
 Nicole Gurran is associate professor at the <a href="https://sydney.edu.au/" target="_blank">University of Sydney</a>. Nicole receives funding from the Australian Research Council and has received funding from the Australian Housing and Research Institute (AHURI).
Peter Phibbs is chair of urban planning and policy at the <a href="https://sydney.edu.au/" target="_blank">University of Sydney</a>. Peter receives funding from the Australian Housing and Urban Research Institute.
This article was originally published at <a href="https://theconversation.com">The Conversation</a>. 
 
<img alt="The Conversation" height="1" src="https://counter.theconversation.edu.au/content/17697/count.gif" width="1">
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The growing wealth divide in Australia's home equity: Nicole Gurran and Peter Phibbs

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This week I’ve been renovating, not for a client but my office.  It really needed a clean out and freshen up. Lots of files – the old kind filled with paper – have been archived and I had our painter come in and in one day the office was transformed. As part of the process, I purchased some new furniture - a sofa and storage cabinet from IKEA.
I had already been pre-warned by my husband not to buy IKEA as he wouldn’t help putting it together. Alas, the project manager came out in me and after I fell in love with one of their sofas and I thought I’d just hire someone to do it.  I knew the frustration is just not worth the effort. Or is it?
<img src="/images/stories/2013/09/27/jo-chivers-sept-27-chair.jpg" width="470" height="288" alt="jo-chivers-sept-27-chair">
Have you heard of the phenomenon called the ‘IKEA effect’?
It’s when you put your own blood, sweat and tears into assembling something, but once completed you sit back and admire your work, taking pleasure in knowing you helped create it. Most importantly, you then put a higher value on that product than if you walked into a shop and purchased it off the shelf. This is what researches have dubbed the ‘IKEA effect’.
Research conducted by Daniel Mochon, of Yale University, and Dan Ariely, of Duke University showed that the increased value is not just about effort, but about completion.  An experiment had subjects given a task of building an IKEA box. Researchers then implemented prices on the objects built with the intention of observing if the test subjects were willing to pay more for the boxes they built themselves as opposed to those already built.
When subjects had to build-then-disassemble the box due to error or didn’t finish the project they received no such value benefit.
It’s important to know that the boxes being built in the tests were fairly straight forward, but what would happen in more complex situations?  Would someone even try and attempt assembling an item if they thought it was going to be too hard?
This got me thinking about property development.  A lot of people believe developing is hard as there is a perception of risk associated with the word ‘developing’.  What Property Bloom does as property development project managers is to remove a little of the perceived risk by offsetting it with our knowledge and experience.
Client satisfaction is a benefit of our service as our clients have the opportunity to be involved in their development project but not to the extent that it would overwhelm them. Clients decide on the site purchase (after our feasibility is presented to them), they decide whether they want any changes to the floor plan (after we design the optimal plan to work on their site), they may choose a colour scheme for their project and then we manage all the fine details; that can at times be as frustrating as putting together a lounge from IKEA.
At the end of the project, our clients can sit back and know that they have developed this piece of land and they have created value and a solid investment.
During our project management process, clients receive a weekly update report with photos showing them the progress made that week on their development and the milestones met and the ones coming up.  So whilst they may not be able to visit their site weekly, we do and bring it to life for them in a document that can be kept and referred back to when they may go on to complete their next project themselves.
Their level of involvement also gives ownership in the project but it’s really the fact they have taken action and that they are moving closer to meeting their investment goals even if they took the easy way and hired a project manager to save them some frustration, much like I hired a man to assemble our furniture.
Our clients are a bit like me who is now enjoying sitting on that sofa lounge but all I had to do was to choose the colour, pay for it, arrange delivery then I paid someone to assemble it for me. I knew it could be done faster this way than me trying to work out what to do.
 
<hr>
 Jo Chivers is director of <a style="font-size: 14px;" title="Property Bloom" href="https://www.propertybloom.com.au/" target="_blank" rel="nofollow">Property Bloom</a>, which manages property development.
 
 
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"The IKEA effect"; building something of your own brings enormous satisfaction: Jo Chivers

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A tightly contested auction for a fully leased retail building at Hawthorne in Brisbane’s inner east saw it sell under the hammer for $1.43 million.
After a total of 26 bids, the building, at 135 Riding Road, was finally sold to a local investor, on a yield of about of 6.9%.
Jonathon Jones of Ray White Commercial negotiated the sale. He said the building attracted 47 enquiries and eight registered bidders at the auction,” he said.
Mr Jones said the complex has five income producing tenancies providing a net income of approximately $98,765 per annum.
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Hawthorne, Brisbane retail complex sparks auction bidding war

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Marketing a property often begins with a valuation check, conducting research to see how it compares with other similar properties in the area, and getting photographs taken before listing it online.
However, some homeowners and investors underestimate the importance of taking good photographs – resulting in unflattering photos that may impact the tenancy or sale of your property.
Property Observer recently <a href="https://www.propertyobserver.com.au/landlords/reasons-your-property-isnt-tenanted/2013091765077" target="_blank">reported</a> that less-than-ideal photographs could be a contributing factor for properties that have not been tenanted for a while.
What, then, is classified as a less-than-ideal photo? We recently came across <a href="https://terriblerealestateagentphotos.tumblr.com/" target="_blank">Terrible Real Estate Agent Photographs</a>, a blog full of terrible photos from real estate listings, as its name suggests.
The blog's curator states that "All the images I use are from genuine real estate agent websites, rather than gumtree/craigslist/airbnb etc so it’s fair to assume the majority have been taken by professional agents rather than landlords."
Some of these photos include properties with random furniture strewn around the living area, badly photoshopped photos, as well as a particular property where its corners were photographed extensively.
What do the bad photos have in common?
Perhaps the most obvious point is that they do not show the property in its best light. They also do not highlight the best feature of the property.
Some of the photos show a poorly maintained unit with unmade beds and random rubbish strewn around the property – which speaks volumes about property management, as well as the care factor of the landlord.
Other photos are plain bizarre. One notable image showed a male in a hooded jacket standing in the bedroom, looking as if he was ready to go to bed. Another image showed a dining table placed strategically in front of two sofas.
Conversely, what makes a good set of photos?
Here are some tips from property photographer Aysha Harburn:
<ul>
<li>Presentation is everything – Move as many personal items as possible and store them somewhere, as prospective buyers like to be able to imagine themselves in that space. </li>
</ul>
<ul>
<li>Declutter. Minimalise the number of objects around, and ensure surfaces are clear.</li>
</ul>
<ul>
<li>Make sure the garden is presentable.</li>
</ul>
<ul>
<li>For older properties, a fresh lick of paint can make a difference.</li>
</ul>
<ul>
<li>Consider whether to use twilight photography. Often twilight photography can bring a property to life, and can make a difference with how the property looks.</li>
</ul>
For humorous negative examples of real estate listing photos, click through to the <a href="https://terriblerealestateagentphotos.tumblr.com/" target="_blank">blog</a>. Its curator welcomes submissions, and adds his own captions – complete with witty humour.
If you've got any of your own, we also want to see them. Email news@propertyobserver.com.au 
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The worst real estate photography showcased

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A one-bedroom unit in Elsternwick was Victoria’s most affordable auction sale over the past weekend, according to Australian Property Monitors. 
Located at <a href="https://www.realestate.com.au/property-apartment-vic-elsternwick-114684071" target="_blank">3/245 Hotham Street</a>, the unit sold for $267,500 through Hodges Real Estate Caulfield.
Listing agent Alex Flamm told Property Observer the auction was “a bit slow... because it wasn't the right property at the time that people were interested in the marketplace”. 
He added that while the property would see a good rental return, it wouldn’t provide a strong capital growth return, deterring some bidders.
There were about 17 people present at the auction, with two bidders.
The successful bidder was an investor.
When asked about the reserve price, Flamm revealed that the property was sold under “unfortunate circumstances.”
“It had to be sold irrespective of what the reserve was,” he said.
The property also sits in a unique location. While the listing notes that it is located in Elsternwick, RP Data states that it is part of Ripponlea. Flamm said that Ripponlea is a “tiny small pocket” of Elsternwick, and added that Hodges manages a few properties along the same road and lists them as located in Elsternwick.
Flamm also said that the property market in the area is “brilliant” at the moment.
“It is close to the Elwood precinct, close to the beach, basically close to a lifestyle. It also has strong period-style properties. It’s very centralised, there are train stations and trams going east and west – it’s got a lot of ingredients for someone to be able to live in, and is close to the CBD,” he said.
According to Hodges’ estimated asking rent of $305 per week, the price reflected a 5.93% yield.
According to the <a href="/news">latest RP Data report</a>, the median unit price in Ripponlea is $423,000, up 5.8% on last year. The median asking rent is $350 per week, while gross rental yield currently stands at 4.3%.
According to the <a href="/news">latest RP Data report</a>, the median unit price in Elsternwick is $468,000, down 6.8% on last year. The average discount required to sell a unit is 5.1%, while private treaty sales average 82 days on market.
The median asking rent is $375 per week, while gross rental yield currently stands at 4.2%.
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