An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

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

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?

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Australian households' financial comfort levels improved over the first six months of the year with empty nesters the most comfortable and single parents the least comfortable, according to the latest Household Financial Comfort Report from ME Bank. 
Overall, household financial comfort has increased by 4% to an index reading of 5.5 out of 10 - its highest level since the report was first established in October 2011. 
The index, based on a survey of 1,500 households, quantifies how comfortable Australians feel about their household financial situation as well as their expectations and confidence with respect to their finances on a scale of 1 (least comfortable) to 10 (most comfortable).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/larry_uploads/ME_BANK_SURVEY.jpg" alt="ME_BANK_SURVEY" width="470" height="175">
“The positive effects from a strong rise in share markets and to a lesser extent the Australian housing market over the past six months have boosted the value of direct investments and superannuation of most households,” says the ME Bank report. 
“Lower borrowing costs have also increased most households’ comfort with their debt burdens and boosted their cash savings. It has also improved their expectations for financial comfort during the next year and in the longer term their standard of living in retirement.” 
However, households remain cautious preferring less riskier investments and keen on saving while there has also been a rise in the proportion of borrowers putting extra money into their mortgage repayments. 
For the first time since the survey was undertaken in October 2011, savers (51%) outnumbered spenders (49%). 
“Households have preferred to pay back debt, with the number of households putting extra money into loan repayments increasing 6% to 56% in the six months to June, while investing in direct shares and bonds remained unchanged at 22% of households,” says Jeff Oughton, ME Bank’s consulting economist. 
“Overall, households’ are most worried about the cost of necessities (52% of households), level of savings and cash on hand (40%), their ability to maintain standard of living in retirement (32%), and the impact of the global economy on Australia (31%).” 
“As the Reserve Bank has continued to cut rates to stimulate the economy, Australians have continued to build a savings buffer and they remain financially cautious.” 
Empty nesters’ showed both the biggest increase in financial comfort over the past six months and the highest overall score of 5.96% - perhaps not surprising given that house prices are rising and interest rates are low. 
Apart from retirees (5% decline), all categories of households recorded an improvement in financial comfort. 
ME Bank attributes the deterioration in comfort of ‘retirees’ as largely reflecting the “negative impact of lower deposit rates on their investments given their relatively high and defensive exposure to bank deposits rather than growth assets such as shares and investment properties”.
“Unlike most other households, retirees have experienced little, if any benefit from lower borrowing rates given a lack of debt. Moreover, the vast majority of their wealth is somewhat illiquid equity in their owner-occupied home.
Perhaps a reflection of lower interest rates, the financial comfort of single parents increased by 8% over the six month period, though they remain the least financially comfortable demographic with a score of 4.89. 
Couples without any children have higher comfort ratings than those with children.
Birdhouse image courtesy of Nannette Turner /flickr.
 
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 Cashed-up empty nesters the most financially comfortable: ME Bank survey

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Sydney managed a preliminary auction clearance rate of 80.8% last weekend, according to Australian Property Monitors (APM), the third consecutive week of an 80% plus preliminary clearance rate.
Last week we asked readers if Sydney could make it three weeks in a row. Around 60% said it would not, but they were proved wrong with a preliminary clearance rate of 80.8% recorded.
So can the 80% plus clearance rate run continue?
Today we ask:
{module Will Sydney continue its run of 80% plus preliminary auction clearance rates for the fourth consecutive weekend?}
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Will Sydney maintain its 80% auction clearance rate this weekend?

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In 2003, the State Government announced that the stevedoring wharves at East Darling Harbour would be transformed into a new urban precinct. And now, momentum is building as the long awaited and often controversial Barangaroo – a $6 billion commercial, residential and leisure development – is set to revitalise this quiet part of the city.
The Barangaroo Concept Plan was approved in February 2007 and has been amended each year to increase the floor space and to refine the Headland Park and Northern Cove.
In 2010, it was amended again to include a hotel on a pier with additional height and floor space.
The development’s most controversial amendment, however, was the recently approved Crown Casino, which will undoubtedly attract an influx of international high rollers to the precinct.
Earlier this year, we interviewed a couple of key Barangaroo stakeholders for a feature in our Lifestyle Guide publication. Greg Flynn, Barangaroo Developer, Lend Lease, said in what is destined to become Australia's first large-scale carbon neutral community and there will be approximately 800 apartments in the residential component of Barangaroo South.
The development will offer 159 waterfront apartments, with a mix of one, two and three-bedroom apartments, all with uninterrupted harbour views.
Andrew Wilson, Managing Director, Barangaroo South, said the apartments were Sydney’s last significant CBD residential waterfront opportunity and he described its contemporary design as offering the quintessential Sydney harbour living experience that would enhance Sydney's position as a must-see destination.
It is anticipated that the apartments will be released to the market during the second half of this year and completed in mid-2015.
Each building is targeting a 5-Green-Star residential rating and incorporates a range of sustainability measures.
At ground level, Barangaroo South will include cafes and a standout signature restaurant at the northern end facing the square and cove.
It will also be Sydney’s newest dining ‘hot spot’ and home to some of the most esteemed local and global chefs.
For over a decade, Barangaroo has been a cause of concern among residents that live in the northern part of Kent Street.
Many property owners in this area purchased million dollar views when height restrictions were in place and, while Barangaroo was still in its planning stage, the value and sales potential of some of these apartments were negatively affected.
With apartments in Barangaroo tipped to start selling from $1million, I am confident that residents in Kent Street as well as Walsh Bay and The Rocks can expect an increase in the value of their properties over the next 5-10 years.
Carlie Ziri is the director of <a rel="nofollow" href="https://www.lifestylepropertyagency.com/" target="_blank">Lifestyle Property Agency.</a>
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Barangaroo development will revitalise East Darling Harbour

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Financial stress levels are rising among Australian households despite low interest rates, according to the latest financial Wellbeing Index compiled by ING Direct.
The index declined from 108.2 in the first quarter of 2013 to 10.7.8 in the second quarter with financial wellbeing declining in every star except for Western Australia.
Around 83% of the 1,030 households surveyed between 4 July and 9 July 2013 reported that living costs had increased by an average of $43 per week over the past 12 months.
However, comfort with home loans continues to enjoy the highest reading across all six financial indicators with a second quarter score of 5.73 – a slight improvement on the first quarter reading of 5.67 and a further advance on the fourth quarter of 2012 of 5.64.
Responses were recorded on a scale from 1 (‘veryuncomfortable’) to 7(‘very comfortable’).
Mortgage comfort levels are highest in NSW/ACT (5.75) followed by WA (5.58), South Australian (5.44), Victoria (5.21) and Queensland (5.10).
A further sign of mortgage comfortableness, 43% of households surveyed said they were ahead with their loan, up from 39% in the first quarter of the year.
More than half of WA respondents (51%) said they were ahead on their mortgage repayments.
Howerver, long term assets including housing investments continue to be a weak spot in household financial wellbeing.
One in three (32%) households are uncomfortable with their long term investments with the reading on this measure dropping  slightly from 3.5 in the first quarter to 3.48.
The results of the survey also demonstrate the current savings culture with one in four (26%) getting more pleasure from saving than treating themselves to a special purchase (21%). 
And 17% would rather pay off debt than buy gifts for friends or family (10%).
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Australian households more financially stressed but not from mortgage repayments: ING Direct Wellbeing index

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An even more opulent resort and residential development is being planned for Hamilton Island in moves designed to thwart looming competition from Lindeman Island's new Chinese owners.
The Whitsunday island’s owners, the Oatley family, are considering building another five-star qualia resort as well as a 200-house development and a hotel around Dent Island's 18-hole golf course, The Australian reports.
The course was designed by five-time British Open winner Peter Thompson.
Executive chairman Sandy Oatley says the existing qualia is starting to get ‘’very high’’ occupancy rates and the family is looking at future expansion.
"We are waiting to see when Lindeman Island's (redevelopment) happens and (what is happening at Mulpha's) Hayman Island. We are quite keen for the region to move forward because it's a great spot in Australia and we love it and we are proud to be there," he said.
Voted ‘Best Resort in the World’ in the 2012 Conde Nast Traveler Readers’ Choice Awards, qualia’s prices reflect its stature. Its Leeward rooms cost $975 per night, Windward rooms $1550 per night and Beach House $3650 per night
The Oatleys bought the Whitsunday Island for $200 million in 2003 and have spent about $350 million redeveloping it. It’s now said to be Australia’s largest tourist resort.
The redevelopment will be a shot in the arm for the $95 billion tourism industry.
Oatley suggests the next five-star qualia resort on Hamilton would have its own flavour. Unlike the existing 60-suite qualia, he says options for the new resort might include putting out the welcome mat for children, or creating a two- or three-bedroom luxury apartment complex.
The existing qualia has a beach house, which is a bigger version with the double room and bigger pool. It might be some of those sorts of things, he says.
With infrastructure and electricity already established at Dent Island, Oatley says the family might opt to develop there. He says part of a development application to get the golf course approved includes a hotel and 200 home sites on the island. ‘’More buoyant’’ economic conditions would encourage holiday investment.
If the 200-lot development on Dent Island proceeds, it’s believed individual houses would be sold to private owners and put into a real estate ‘letting pool’.
Holidaying around a golf course would appeal to a different group of visitors, Oatley believes. They would enjoy the island’s tranquillity and proximity to Hamilton Island.
It’s reported the Oatleys, and patriarch Bob, sold their Rosemount Estate wine business to Southcorp for $1.5 billion in 2001. Four years later they sold their 18.8% stake in Southcorp for $584 million.
‘’We are thinking about the next five years, thinking about what we will do with new attractions and amenities for the guests, and our usual refurbishing (program),’’ he told News Ltd.
Dent Island’s par 71 championship course was designed by champion golfer Peter Thomson, and features two distinctly different nine-hole circuits. Encircled by panoramic vistas of blue Coral Sea and shimmering Whitsunday Islands, the course is designed to challenge professionals and satisfy resort golfers.
Oh, and that word ‘qualia’? It’s Latin for "a collection of deeper sensory experiences".
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New resort and residential development planned for Hamilton Island

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Crown Group’s Sydney residential development Top Ryde City Living has been named the best high density development at the Urban Development Institute of Australia (UDIA) NSW Awards for Excellence 2013.
The award recognises the development’s good use of space and forward thinking approach, said Iwan Sunito CEO of Crown Group.
“The entire development – from the individual apartments and penthouses to the shared facilities – is testament to the expertise and skills of the development team,” he said.
The 653 apartment development is located above Top Ryde City Shopping Centre. 
Common viewing platforms enjoy views of the Sydney Harbour Bridge, Blue Mountains, Sydney CBD and North Sydney.
“Top Ryde City Living was designed to take maximum advantage of the available space and views - and to utilize natural light and cross-ventilation in each apartment,” said Sunito.
The one- two- and three-bedroom apartments in Top Ryde City Living also enjoy a shared music room, pool and playground.
<a href="https://toprydecityliving.com.au/" target="_blank">Top Ryde City Living</a> will consist of seven buildings. 
 
About 90% of apartments in the first five buildings have sold and more than 300 residents have moved into the apartments so far.
 
 
The apartments that remain are two-bedroom apartments and two-bedroom with study residences.
 
 
The final release of apartments at Top Ryde City Living, named Viva by Crown, will be launched in early September.
Viva by Crown will consist of one- and two- bedroom apartments.
All apartments in the first three towers completed have sold with prices ranging between $525,000 and $2.69 million.
The development is expected to complete construction in mid-2014. 
Crown Group was also the only nominee to win more than one award on the night.
Eastlakes Town Centre, a joint venture between Crown Group and Prosha Pty Ltd, was named best concept design.
The plan of 428 apartments across 11 buildings is scheduled to begin construction next year.
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Crown's Top Ryde City wins UDIA award for high density living

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The transition from market observers to market participants has begun as clearance rates jump by around 10% from where there were this time last year.
The property market recovery appears to be now entering a new stronger phase but clearance rates above 70% in Melbourne and Sydney should not come as any great surprise as we first saw signs of this recovery almost 12 months ago.
The property market is cyclical and buyers will only stay out of it for so long. Many have been sitting on the sidelines watching proceedings and waiting for the right time to move.
When we look at the broader financial factors that drive consumer confidence in the property market there were clear signs that it was not a question of if the market would bounce back, but just a matter of when.
There were a number of factors that indicated a market recovery.
Affordability – a high Aussie dollar has put pressure on our manufacturing sector and this has been on the RBA’s radar. As a result the RBA has lowered the cash rate by 75 basis points in the last financial year.
Falling interest rates instantly increases affordability. Buyers rushed back to the market in 2001 and 2009 mainly due to falling interest rates. The main difference this time around is it has not come packaged up with increased first-home buyer incentives. This means that the first-home buyers markets will lag behind the broader market.
Capacity – The graph below shows many Australian households have continued to save their disposable income. Many borrowers have been using these funds to make substantial excess principal repayments and this has increased their equity and cash flow positions.
<img src="/images/stories/2013/07/armstronggraphjuly31.png" width="400" height="353" alt="armstronggraphjuly31" style="display: block; margin-left: auto; margin-right: auto;">
Many buyers are now coming to the realisation that they cannot stand around watching the market forever and they now have the financial capacity to act.
Demand – Home ownership in Australia is very high with around 70% of people living in a property with their name on the title. The needs of a homeowner change over time whether it be the need to upsize or down size. Although many owners have put these plans on hold the necessity to change is forcing them to make their move.
Further property is a great Australian past time and this continues to be the case.
Web statistics show that, although competition from buyers was relatively soft in 2012, web browsing continues to be very high.
Nielsen’s online analysis of real estate portals suggests more that 3 million Australian’s search for property every month. That means around 15% of the entire Australian population are actively looking at property at any one time.
This activity is now flowing into the physical market and is driving up clearance rates.
The gestation period from market watcher to market participant is moving into the next phase as the broader market catches on that prices have bottomed out and there is only one way they will move from here.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank" rel="nofollow">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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Melbourne and Sydney clearance rates are the result of returning buyer confidence: Mark Armstrong

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In Australia, it is generally cheaper to rent property than it is to buy, so those who elect to sit out of the market instead of buying are not swimming against a tide of dividends.
Although renters may not be paying off a mortgage, at least their monthly cash outflows should be lower than those who have recently purchased an equivalent property (although recent interest rate cuts have delivered a welcome affordability dividend to mortgaged owners on variable rather than fixed rates).
Renters, therefore, are only swimming against the ebb of the market if nominal property prices are increasing, in regions where they are being eased higher by demand from homeowners and investors outstripping supply.
Investors too, generally experience cash outflows in the early days of property ownership in Australia, so they only move ahead if prices are increasing.
The tides which can push prices higher in a region include: a booming population and therefore a demand which the supply of dwellings is not meeting, a real and sustained increase in household incomes (in particular, where significant jobs growth is being experienced) and an in-flux of speculative investment capital.
Where these factors are not in evidence, renters may gently swim across any real or perceived rip, and drift gently back to shore: there is no tide for them to swim against.
Property market cycles do not move in lockstep in Australia; some cities experience rising prices while in others they are falling.
Certain experts have been saying for around half a decade now that prices in Adelaide will boom. When I started writing my first book back in 2010, I detailed the reasons why I disagreed (and still do) with this viewpoint.
Although Adelaide has a gentle drift of population growth, the absolute numbers are relatively small, there is plenty of scope for new development, a number of planned mining projects or extensions have been shelved, and I see no reason why the city cannot house its growing population relatively affordably.
Renters don't appear to be caught in a rip, because in real terms prices have been becoming more affordable - they are gently drifting back to within reach of some previously excluded younger buyers.
 
<hr class="system-pagebreak">
 While some cities will continue to see easing prices, Sydney looks set to outperform.
Although the latest round of unemployment figures from the ABS showed that the Australian economy added a seemingly impressive 160,400 jobs over the past 12 months, it is notable that 81,900 of those were in NSW and 31,700 were in VIC. Jobs growth was weak in QLD and all but non-existent in SA and TAS. These figures help to explain why Sydney and Melbourne have thriving property markets while Adelaide has failed to deliver the long-promised price growth in spite of the lowest interest rates in a generation.
Sydney is a different kettle of fish entirely from Adelaide. Those waiting on the sidelines for a price crash in the harbour city aren't swimming against a gentle undercurrent of population growth, they are facing a full-blown demographic tsunami.
Estimated annual population growth may be a touch volatile but the population growing from around 4.1 million at the time of the 2001 Census to above 4.6 million by the time of the 2011 equivalent headcount, suggests a very strong longer-term average of around 50,000 persons per annum.
A higher population does not automatically equate to higher dwelling prices, but last time I was in my apartment on Pitt Street, I took a long, hard look at the vast semi-circular area of Sydney visible from the balcony, and as far as I could tell there were only 3 ongoing residential developments of any stature.
In truth, there are a few projects coming online such as the expensive-looking new apartments on previously unfashionable Broadway, and indeed a new suburb is being constructed at Barangaroo (not that the $2 million+ price tag for the 100 two bedroom apartments is going to solve any affordability issues). The problem is that few seem to want to venture out to the fringe suburbs, creating high land prices and affordability pressures in suburbs close to the city.
A material fall in prices might or might not be triggered at any given point in time, but with each passing year in the decade since a crash was being called after the turn of the century, the competition for prime-location real estate has been increasing, as wave after wave of immigration hits the city.
The other tide that renters are swimming against is the raging torrent of speculative capital which is flowing into Sydney.
Prices do not seem to have faded in Melbourne as had been widely predicted in part because investors have returned to the market in droves, lured in by lower interest rates. 
Plenty of commentators have also been forecasting price falls in Sydney for years, but these predictions were drowned by the appetite of investors for Sydney real estate.
According to the ABS, loans for investment purposes with investor lending in NSW increased by nearly 24% on a year ago and NSW made up some 40% of the value of all investor loans approved in Australia in the month of May.
Investors  presently account for more than 50% of total home loan activity in the state. 
With record levels of investor capital washing over the established housing stock and auction clearance rates consistently topping a boomtime 80%, dwelling prices have reached a new high tide level, and increases look likely to continue to be reported over coming months.
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" rel="nofollow" href="https://petewargent.blogspot.com.au/">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" rel="nofollow" href="https://petewargent.blogspot.com.au/">eedom.</a>
Photo courtesy of Flickr.
 
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Sydney renters swimming against the raging torrent of speculative investment capital: Pete Wargent

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A new type of apartment - known as transition apartments – have been created in North Sydney to tempt empty nesters and baby boomers from their larger family homes.
Designed by Smart Design Studio, the apartments are part of  <a target="_blank" href="https://www.theheritagenorthsydney.com.au/">The Heritage</a> development by Moore Development Group in North Sydney’s Walker Street.
The apartments, ranging in size from 148 square metres to 182 square metres, feature their own lobby and exclusive lift access.
The development will feature 23 three- and four-bedroom apartments and penthouse apartments and prices start from $1.425 million.
“Empty nesters want to escape the maintenance chores of a house, and they like the idea of moving into a lively location, but most baulk at the thought ot multi-unit complexes where noise can be an issue and privacy can be compromise,” says Nick Rickard, general manger of Moore Development Group.
“We are offering people a compromise to make their transition from a family home into strata living as seamless as possible.
“Going from being ‘Lord of the Manor’ into a strata development where other people have an equal say in the way things are run is a major issue for many peoples,” says Rickard.
The first stage of 18 apartments has been released and 17 have already sold.
The apartments feature high ceilings, floor to ceiling windows, travertine floors and timber veneer joinery.
The security lift at The Heritage only stops at an authorized floor, opening onto a private lobby, which then leads onto the living spaces of the apartments.
“There is only one common wall so noise is not a problem,” says Rickard.
“Privacy is enhanced, security is cutting-edge and each ‘transition apartment’ has practical entertainment spaces every bit as opulent as a house, as well as storage cages on one dedicated level,” says Rickard.
“Downsizers are used to having space, and the additional bedrooms allow other family members to come and go as they need,” says Colin Griffin of CBRE Residential.
“North Sydney is convenient location for friends to visit and you’re very close to the CBD,” says Griffin.
Residents will have access to a rooftop terrace with BBQ facilities.
The median apartment price in <a target="_blank" href="/news">North Sydney</a> is $550,000, according to RP Data.
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Transition apartments to tempt Sydney north shore empty nesters

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Negotiations are well advanced between St Kevin's College and Coles for the school’s acquisition of 5.4 hectares of vacant land near the Tooronga Village in Glen Iris.
The college is keen to buy the land, fronting Crescent Road, reputedly for as much as $23 million, Property Observer understands.
It intends to use the existing open car park and vacant land for sports facilities - mainly ovals for soccer, hockey, Aussie rules football, tennis, cricket and athletics. A planning scheme amendment will be submitted to the council to get the ball rolling.
In 2011 Coles bought a 7.7 hectare parcel of land near its 800 Toorak Road head office from developer Stockland for residential and commercial development. The purchase price was undisclosed. The land is next door to the supermarket which it leases from Stockland.
Now, on a section of that land, the Coles group wants to build a multi-level car park connecting its store support centre to replace an existing open car park. A permit application has been lodged with the City of Boroondara.
Other parts of the Coles holding are set for purchase by the Christian Brothers school.
St Kevin's and the retailer recently held two resident information sessions to explain their proposals for the two separate developments. It’s believed 60 people attended the first session and 80 the second, with the mood said to be ‘’very positive’’.
Headmaster Stephen F Russell told parents in a newsletter the pending purchase would ‘’fulfil a decade-long aim of our strategic plan: to find suitable land to allow our sports and physical education programs to operate well’’.
‘’The college has been saving for some time in preparation for this opportunity. Along with borrowings we have plans to develop the site leading up to our centenary in 2018.
‘’We will need the support of our community, past, present and future, to accomplish this lofty and necessary ambition.’’
Russell says other primary schools and community groups would be welcome to use the proposed facilities when they are free.
About one hectare of the land will be left for public open space, including a terraced area near the Tooronga Village shopping centre. It will be enhanced by landscaped bicycle pathways with some land being transferred along the Gardiner’s Creek pathway.
The proposed sports fields are close to Tooronga station, making them ideal for rail commuters, the headmaster says.
It was in 2011 that Coles had bought back from Stockland - cut back to a 7.7-hectare slice of the former larger site it had sold to Stockland in 2004.
The sale, for an undisclosed sum, included what was to have been stages two, three, four and five of the controversial Tooronga apartment project.
At the time Coles was planning to build a mixed-use village on the land next door to the supermarket.
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