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

Joel Robinson

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

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

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

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?

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

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

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Platinum, Salvo Property Group's striking 52-level apartment building set for construction in Melbourne's Southbank, has secured around 200 prior sales ahead of this week's official launch. 

Capped by platinum-coloured blades, Platinum comprises 435 apartments - predominantly in two-bedroom layouts.
The project's architect is Squillace Architects - a Sydney firm working on its first Melbourne high rise - and has already been awarded the best high-rise design in Australia prize in the this month's International Property Awards in Asia Pacific.
<a target="_blank" href="https://www.platinumtower.com.au/">Platinum</a> will rise from the site at 245 City Road Southbank for a 2016 completion. 

There will be an opulent hotel-style lobby, ground level café and restaurant.
It will have its recreational facilities on its 52nd floor with views of Port Phillip Bay, Albert Park and the Melbourne CBD.
"We want to offer our buyers value, quality and a point of difference," Salvo chief Mario Salvo said this week.
"It's all done with love and passion," he said.
Asked about headlines suggesting an oversupply of Melbourne apartments, Mario Salvo noted "we are almost halfway in our sales and we haven't had a retail launch."
"Why should I feel there is oversupply?
"I don't see the gloom," he said saying the demand for inner city abodes made sense in this day and age.
Squillace Architect director Vince Squillace says the residential building has been designed to complement the Melbourne cityscape when viewed from a distance, with inspiration drawn from textures and forms found in some of Melbourne’s more remarkable towers. 

“Our design contributes to the street and will create social activity in the area, which together with the vertical garden, will soften what is currently a harsh urban environment,” Vince Squillace says.
With many apartments having a winter garden feature, Salvo Property Group sales and marketing director Christina Salvo says Platinum heralded the "greening of Southbank."
It's also a reference to the car park facade featuring one of Australia’s largest vertical gardens. 
Rising from its third level, the seven-storey vertical garden will both conceal and naturally ventilate parking for 265 cars and storage units. 

Salvo Property Group sales and marketing director Christina Salvo says Platinum would become an icon building for Melbourne. 

“We wanted the communal areas of Platinum to feel like you are walking into your own private hotel.
"Residents will enter a rich, warm lobby, addressed by a concierge and flanked on either side by a café or restaurant.” 

Residential lift lobbies on all floors will have wallpaper, bronze mirrors and designer lighting.
Its five star facilities include a sky lounge with function room and bar on its 52nd floor along with a winter garden, indoor pool, spa and gym.
While predominantly two-bedrooms around four per cent of the stock will be three-bedroom and several four-bedroom and penthouse apartments.

The two-bedroom apartments have an average internal area of 66 square metres with balconies of between eight and 10 square metres and a starting price of $438,000. 
The three-bedroom apartments have an average internal area of 97 square metres with penthouses up to 328 square metres. 
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Platinum at Southbank secures 200-odd sales ahead of official launch

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Roseville Anglican College for Girls has spent $3.7 million to expand its holdings in Sydney's upper North Shore.
It was described to Property Observer as "a very bullish $3.7 million" paid in Roseville.
They last bought on Bancroft Avenue property in 2011 paying $3.675 million suggesting they are intent on increasing their land holdings in the street for some future college expansion.
There were intending home buyers at the auction represented by Skeen Property Buyer's Robert Skeen who were anticipating renovating the Federation home back into a family home.
The vendors at the McGrath Estate Agents auction were the Shepherd Centre.
<div>Nestled on a vast 1,839 square metre parcel in one of Roseville’s finest streets, <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-roseville-nsw-2069/181066">the double brick Federation classic is a substantial free flowing single level home with timeless period detail interiors</a>. It last traded at $3.15 million in 2005.</div>
Members of the last family to reside in the house were present at the auction and keen for another family to secure its purchase as a residential home.
"Roseville College looked like they would have bought the property at any price," one attendee noted.
Roseville Anglican College for Girls was established in 1908.
It has followerd the trend of other expansionary schools.
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Roseville College buys another Bancroft Avenue residence

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As a bushfire approaches a dwelling, or anything else in its path, the dwelling will be subject to the following threats:  

Wind-borne burning embers – these may be carried up to 5 km ahead of, or fall up to 1 km behind, the fire front (in extreme cases embers may travel 35 km). These embers may cause spot fires well ahead of the fire front or cause fresh fires to break out after the threat has seemingly passed.
High winds – the velocity of winds associated with bush fires may be greater than that for which houses in the same locality but not subject to bushfire attack have to be designed. Wind behind a bushfire creates a moving fire front that consumes fuel in its path. Fire fronts most often travel at about 5 km/h, but can move at up to 30 km/h depending on terrain, wind and fuel availability. In large fires, the thermal energy can create its own weather phenomena, eg flaming whirlwinds in crowns of trees and rolling clouds of fire. Where a bushfire front comes up to or passes a dwelling, these local weather phenomena within the fire may result in reversal of wind direction and increase the magnitude of the wind forces to which the dwelling is subjected.
Wind-borne debris – the high winds can tear off branches from trees or sheet metal coverings from roofs and these then may become missiles that impact on adjacent dwellings.
Heat – the fire heats the air above it; this heated air is then frequently blown ahead of the fire front and dries out and preheats potential fuel sources and may in some cases raise the temperature above the ignition temperature5. When the fire is close, external surfaces of the dwelling will be subject to radiation that also may raise the surface above the material’s ignition temperature.
Direct flame – if the dwelling is close to the bush (or if adjacent trees, shrubs or combustible material ignites), the external walls and roof may be subject to attack from flames. Further, the local weather phenomena described above may mean that buildings some distance away from the fire front may also be subject to direct attack from flame.  
Source:  <a href="https://www.concrete.net.au/publications/pdf/Bushfire.pdf" target="_blank">https://www.concrete.net.au/publications/pdf/Bushfire.pdf</a>  
Property Bloom recently found a development site across the road from a site where we had just completed a dual occupancy project.
On one side of the road where we had just built the land was not bushfire prone. On the other it was a different matter and the land was rated bushfire prone.
So what exactly does this mean and how will it impact on development costs?
Bushfire prone land maps are prepared by local councils across the State of NSW and are certified by the <a href="https://www.rfs.nsw.gov.au/dsp_content.cfm?cat_id=1052" target="_blank">Commissioner of the NSW Rural Fire Service (RFS)</a>.
 
<hr class="system-pagebreak">
Whilst we want to build dwellings that are safe, what exactly do we need to add to our dwellings when they are in a bushfire zone to meet requirements?
Firstly, let’s define bushfire-prone. A bushfire-prone area is an area that can support a bushfire or is likely to be subject to bushfire attack. In general, a bushfire-prone area is an area occurring within 100m of a high or medium bushfire hazard.
New development on areas identified as bushfire-prone are subject to the development and planning controls of ‘Planning for Bush Fire Protection 2006’ and must be designed to improve the survivability of the development and the occupants that are exposed to a bushfire hazard.
For our development, to meet the requirements we need to add aluminium fly screens to all windows and doors in lieu of standard mesh made of woven fibreglass yarn coated with PVC.  
Tiled roofs must be fully sarked - sarking is an impervious barrier comprising of foils and films which is used to prevent water from penetrating the building envelope beyond the exterior roof and it’s a requirement in some bushfire prone areas.  
Metal fascia and gutter guards were also required to stop leaves from building up and becoming a potential hazard. During a bushfire, sparks can travel many kilometres in front of a main fire front and can ignite dried leaves and rubbish in your gutters. Another advantage of adding these guards is to keep birds and rodents out of the gutters and roof as they can cause damage and spread lice.
Spark proof garage door seals which involves an aluminium holder fastened to the door which closes any gaps to the entry.  It’s flame retardant rubber compound slides into the holder and rests above the lintel to provide a barrier to help delay the onset of fire.  
Metal covers for the weepholes to the brick vents. Sub-floor vents are screened to allow free air movement, but prevent spark or ember ingress. The non-combustible screen is covered with a corrosion-resistant metal spark guard.
This has impacted on the build costs for this particular dual occupancy project by about $10,000.  
What we will also consider is that mortar joint finishes ironed or flush joints have been found to perform better than raked joints when subjected to fire but this is not mandatory.  
BAL Risk Assessment – Granny flats
The <a target="_blank" href="https://www.rfs.nsw.gov.au/dsp_content.cfm?cat_id=900">NSW Rural Fire Service </a> regulations require a Bushfire Attack Level (BAL) for a granny flat project. If the BAL is 40 or the highest risk, Flame Zone, approval must be sought by a DA with the local Council.
If the BAL is low, there is no need to do anything except pay for a Bushfire Assessment from a qualified assessor as long as the property is complying.
If the BAL is 15 to 25, there will be requirements for protection measures. This may include toughened glass, aluminium flyscreens and gutter guards.
Generally, Property Bloom does not look for granny flats sites within bushfire-prone areas unless a water hydrant is nearby as it can add costs to the construction and this strategy is all about low costs and high yields.
It’s important to understand that whilst building and developing property in bushfire prone areas can be very desirable due to the views and peaceful environment a bush setting brings. But it will add to the build costs and these additional costs may not always be seen to add value.  You should use these upgrades as selling points as in effect what you have done is in included a ‘bush fire protection system’ for the home, much like a security system will add value, so should the bushfire protection system. So be sure to point this out to potential buyers and valuers.
In the end, the location of our dual occupancy project – a premium area close to all facilities – outweighed the additional costs for the bushfire requirements and we looked at this as an ‘opportunity cost’ to build in this leafy, green area.
Jo Chivers is director of <a style="font-size: 14px;" target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
 
 
 
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The impact of bushfire zoning on your development: Jo Chivers

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They effectively acknowledged they'd been waiting five decades. And finally Cranbrook School got the adjoining Bellevue Hill property.
Albeit at a considerable cost - $15,501,000 - some $6080 a square metre.
"This unique property is not ready for our immediate use, but is rich in potential and will provide us with the scope and opportunity to enrich the teaching and learning experiences, and improve the school environment for, present and future generations of Cranbrook students," the school council president,<a target="_blank" href="https://www.propertyobserver.com.au/news/cranbrook-school-secures-the-%24155-million-bellevue-hill-former-home-of-sir-peter-abeles-cranbrook/2013052261595?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news"> Helen Nugent said</a> in an email to parents today.
And despite being long established, they now they face the likelihood of resistance from remaining residents who don't like the expansionary ways despite their own looming potential windfall gains.
Scots College bought two Bellevue Hill properties on Kambala Road over recent years - $4.1 million in 2008 and $4.9 million in 2009 - and has faced a hostile neighbourhood seeking to influence the generally sympathetic Woollahra Council.
The existing local residents action group, Concerned Scots Neighbours Incorporated have quickly deemed the Cranbrook purchase "cause for concern."
“I’ve had members emailing me about it,” member Paul Blanket told The Australian Financial Review this afternoon. They claim a membership of about 150 residents, but presumably not Helen Nugent, whose own Bellevue Hill home is closer to Scots than Cranbrook, where she is the school council president.
Scots has suggested its expansion involved no increase in numbers of students or staff of The Scots College as a result of its acquisitions.
But there's no stopping the schools expanding their holdings across Sydney.
Property Observer is aware of another, almost as intense auction, earlier this month on the upper North Shore when a very bullish $3.7 million was paid in Roseville.
The successful purchasers were Roseville Anglican College for Girls which was established in 1908.
They'd bought another Bancroft Avenue property in 2011 for $3.675 million suggesting they are intent on increasing their land holdings in the street for some future college expansion.
There were intending home buyers represented by Skeen Property Buyer's Robert Skeen who were intending to renovate the old Federation home back into a family home.
The vendors at the McGrath Estate Agents auction were the Shepherd Centre.
<div>Nestled on a vast 1,839 square metre parcel in one of Roseville’s finest streets, <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-roseville-nsw-2069/181066">the double brick Federation classic is a substantial free flowing single level home with timeless period detail interiors</a>. It last traded at $3.15 million in 2005.</div>
Members of the last family to reside in the house were present at the auction and keen for another family to secure its purchase as a residential home.
"Roseville College looked like they would have bought the property at any price," one attendee noted.
Earlier this month the Wenona School purchased the Independent Theatre, at 269 Miller Street, North Sydney, from the Australian Elizabethan Theatre Trust for $4.97 million.
"This beautiful heritage building, adjacent to our school, has served as a venue for many Wenona drama performances, HSC music recitals, presentations and other functions, throughout its long history," said the Wenona principal Dr Briony Scott.
"Some of our independent school’s first students in 1886 may well have trod parts of the current building which date from the same year, when it was built as a cable tram terminus and depot," she said of the building used as a boxing hall, a vaudeville hall, car service depot and even an ammunition store over the years.
Its not quite like the other recent sales as this sale actually followed an approach by the AETT to Wenona, the AETT chairman, Lloyd Waddy confirmed. Waddy thanked the Vincent Fairfax Family Foundation and previous donors to the Seaborn Broughton and Walford Foundation, and The Friends of the Independent.
The building will provide much-needed presentation and performance spaces for Wenona’s students. Wenona has been an independent, non-denominational day and boarding school since 1886.
In 2009 Sydney Church of England Grammar School (Shore), made the biggest known acquisition spending $35.2 million for the historic Graythwaite estate. It took its portfolio to 86 properties at its 5.65-hectare campus near North Sydney's business district along with nine hectares of playing fields in Northbridge.  
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The schools that ate Sydney: no stopping prestige school expansion as they buy up the neighbourhoods

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Should Tony Abbott’s party come to power in September then it needs to begin day one with an extensive review of the national ledger and a clear position on how it will encourage Australians to prepare for their future.
The country right now is no different to a household or business in financial difficulty.
A freshly elected government in September must set about clearly understanding Australia’s ‘baseline’ position to ensure that fiscal strategies are not ill-addressed or threaten the safety-net for the most vulnerable.
I'm supportive of the opposition’s renewed commitment to scrapping both the mineral and carbon taxes.
Doing so will help reduce pressure on household family budgets, improve business confidence and therefore improve employment prospects and ensure Australia’s competitive advantage in its export deliverable.
Whilst delaying an increase in compulsory super contributions by two years is unfortunate, this is a ‘soft option’ to give Australian business some reprieve.
Australians should still be encouraged to contribute more towards their super.  
Because the compulsory super option may be shelved for now, wages as a result may grow quicker over the next 24 months and with this the opportunity for Australians to consider other options for contributing more towards their super, which the future government must support.
In considering the current government’s initiative to encourage senior Australians to downsize their homes, I support this concession in principle but believe that the rules governing the initiative (notably the 25 year home ownership and 10 year tax concession cap) should be more streamlined and would benefit from using the same guidelines of existing main residence exemption rules.  
People are living longer and the tax rules and benefits need to reflect the growing uncertainty that comes with old age and need for greater flexibility.
Ken Raiss is a certified accountant and director of <a rel="nofollow" title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" target="_self">Chan &amp; Naylor</a> national accounting firm. Chan &amp; Naylor offers a free five-minute question-and-answer session on its website under the<a rel="nofollow" href="https://www.chan-naylor.com.au/ask-the-experts/" target="_blank"> "Ask the Experts" section.</a>
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Australians should still be encouraged to contribute more towards their super: Ken Raiss

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Consumer sentiment fell “sharply” and against expectations in the week following the RBA’s decision to cut the cash rate to a 53-year-low of 2.75% with budget concerns the primary reason for confidence slipping.
The Westpac Melbourne Institute Index of Consumer Sentiment fell by 7% from 104.9 in April to 97.6 pushing it back into a range where pessimists outnumber optimists for the first time since October 2012.
“It is the lowest read since August 2012. Over the last two months the Index has fallen by 11.7% to fully reverse the promising 9.0% increase we saw in February and March,” says Westpac chief economist Bill Evans.
Sentiment about the housing market defied the overall drop in consumer confidence with the ‘time to buy a dwelling’ sub-index lifting 11.2% in May to be up 20.7% over the past 12 months.
“Households recognise the significance of the rate cut for housing activity along with evidence that a patchy upswing in dwelling prices is under way,” says Evans.
He says the 11.2% increase in May “redressed the sharp fall in the Index in April when respondents were unnerved by media coverage which included speculation that rates might be going up.
“It is better to assess the move in this survey as back to around 1.5% above the average level for the previous 6 months when there was a sustained positive response to the implications of lower rates for purchasing dwellings,” he said.
Looking at the overall result, Evans says the “remarkable aspect of this result is that it is the first read of the Index since the Reserve Bank cut the cash rate by 0.25% on May 7.
“Absent any other major influences, we would have expected a solid boost to the Index following that rate cut,” he says.
The drop in sentiment has been attributed to concerns about the Federal Budget with the May survey including a special Budget question with 44% of respondents assessed that the Budget would make them worse off with only 5.4% seeing it as improving with the balance of responses neutral.
“We have been conducting this separate Budget question since 2010 and this response is by far the most negative,” he says.
The survey of 1,200 Australians was conducted in the week from May 13 to May 18 with the budget announcement of a forecasted $18 billion deficit in 2013-14
Evans says the results of the latest survey confirm “our reasonable assumption that this weakness in confidence is being driven by a sharply negative response to the Budget”.
He tips a rate cut in June with the cash rate to hit 2% in the first quarter of 2014.
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Budget woes sees consumer sentiment fall to lowest level since August 2012, but housing sentiment lifts: Westpac index

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As James Packer reaches for the sky with his ambitious Sydney casino highrise proposal, his fortunes are also very much on the way up.
His wealth has been estimated by the forthcoming BRW Rich 200 list at $6 billion.
It's a $790 million jump on last year, Property Observer understands, from his $5.21 billion estimate in the 2012 BRW Rich 200 list.
It was 2006 when James Packer took his late father Kerry's spot at the top of the Rich List.
At $7.1 billion, the then pre-GFC fortune was almost $2 billion clear of shopping centre magnate Frank Lowy, who retained second position on the list with $5.4 billion.
"Where Kerry liked to play in casinos, James likes to own them," the then BRW Rich 200 list editor suggested.
Meanwhile James Packer's latest casino property play could see his highrise become the tallest residential block in Sydney.
It has been estimated that the winning 60-storey Wilkinson Eyre design (pictured below) for Crown Sydney at 250 metres high would give James Packer the tallest habitable building in Sydney.
{yoogallery src=[images/stories/2013/05/may3barangaroothree]}
Its proposed 75 serviced apartments would be located in the top third of the yet to be approved building.
Cashed-up east Asians would be the most likely buyers with managing director of residential at Colliers, Peter Chittenden, told the Weekend Financial Review.
“They like big, tall buildings," Peter Chittenden said.
<a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/crown-s-%2440-million-barangaroo-serviced-apartment-atop-james-packer-s-hoover-vacuum-cleaner-shaped-highrise-casino-proposal/2013051761450">There's been talk of the penthouse coming with a $40 million likely asking price.</a>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/wilkinson-eyre-design-wins-packer-s-crown-sydney-barangaroo-tower-competition/2013051561390?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsouthwales">Packer’s tower</a> would exceed Sydney’s tallest office building, the 244-metre Chifley Tower, and also the tallest Sydney residential building, Meriton’s 230-metre World Tower.
Sydney Tower, at 309 metres, would remain Sydney's tallest structure.
There is also a proposal by the Chinese developer, <a target="_blank" href="/news">the Greenland Group for the Sydney Water Board site </a>with an approved tower height of 240 metres that would just pip Meriton Apartments’ 230?-metre World Tower.
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Seeking 60 storeys, James Packer rises to $6 billion fortune on 2013 BRW Rich 200 list

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With the federal budget now almost one week old and with the flood of commentary starting to slow, I wanted take a look at how this budget impacts the housing market. With my usual emphasis being new apartments, land estates and packaged estates.
At first glance this budget was, with only a few exceptions, a fairly neutral budget for our sector. Or was it?
Apart from the headline points, that I will expand upon, I personally think there are some seeds of a much wider discussion coming out of the budget that will affect our marketing priorities over the next few years and perhaps beyond to the end of the decade.
The reason why I have this view will be outlined in my next two posts.
Let’s tick off the key items
If we’re looking for the matters of substance that will impact the property market and in particular new developments then we need to consider a handful of items. To my reading these include, infrastructure, downsize assistance to seniors, changes to the baby bonus and a generally feeling of restraint in the budget.
But these comments also need to be read not only in light of the government’s budget itself but also the Opposition's budget reply. In the budget reply we also see a policy of restraint, which I will return to, but also some overlap via paid maternity leave and the announcement of a review to the tax system and this appears to now include the GST.
From the point of view of many people in the housing market or looking for a new home, I suggest that this short list of policies has the potential to impact the market long after the memory of last week’s speeches fade.
Some key demographic changes
If we take the wider view of the combination of policies touched upon in the budget I can see areas where the key demographics we deal with everyday may shift. So let’s take a brief look at why.
Downsize assistance
While I agree with the already expressed point of view that the downsize assistance being offered in the budget is very specific and highly targeted, the measure is important.
It signals the awakening in policy settings of how important this generational change in the housing market is going to become. Baby boomers hold much of the housing stock and if they remain reluctant to move the ramifications need to be more fully debated. Also from a marketing perspective, we need to ask if we are addressing this market with enough energy and on-target messaging.
Or is this a sector that is being neglected or at the very least taken for granted? Some evidence suggests so.
It has been estimated that less than 10% of Australian advertising expenditure targets Baby Boomers, despite the fact that the boomers are now entering the ‘lifestyle’ stage of their lives and have more disposable income than any other group.
I think that property marketing would fall into this group and needs a re-think well beyond the conformist idea of a sea or tree change. Even more so if more of the baby boomers are to encouraged to move over the next decade.
 
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Infrastructure front and centre
The national figures for the amount of new infrastructure are as we all know colossal. Last week’s budget listed some big figures and big ambitions. But I think the key message is that development will be stifled if words do not lead to action. When we market almost any project the role of infrastructure is key.
I was reminded of this recently (not that I needed reminding) when I was in the North West of Sydney. In the late afternoon I drove towards a newly up-graded CityRail station that also adjoins one of Sydney’s major growth areas.
What I saw all around the station was an endless sea of parked cars, not only in the car-park but also for as far as I could see in every direction, cars lining local streets. It reinforced to me how starved some areas are of decent public transport.
As an industry we need to help ensure that infrastructure remains a key issue in federal and state budgets so that promises become reality.
The baby bonus – paid maternity leave
Outside of the National Disability Insurance Scheme, policies surrounding the baby bonus and maternity leave are key budget points that can influence social policy and market demographics. While changes may not result overnight, both are policy areas that may well impact the shape of demand in the housing market.
For several years Australia has seen the biggest baby boom in our history with births eclipsing the peak of the original baby boom that ended in 1961.
Recent Australian Bureau of Statistics figures show that our population growth is one and a half times the global average. Women are waiting longer to have children, with the average age rising steadily since 2000. We have also seen that the proportion of mothers aged 35 and over also continues to rise.
The current debates around paid maternity leave and the shape of any ‘baby bonus’ are key in helping to shape housing demand, and so last weeks’ budget should remind us of this fact.
Back in 2002 The Howard government introduced the baby bonus payment as the fertility rate hit an all-time low of 1.7 children per family in 2001. Now it can, I think, be reasonably assumed that as a result of that policy the fertility rate is now more than two. Such policies do directly bring about demographic change and this influences the shape of the housing market.
Fiscal restraint, budget cuts and the GST.
Last week I looked at some of the challenges of marketing projects in a low interest rate environment.
Now that we have the budget clearly setting a policy of fiscal restraint, expenditure cuts and a possible future change to the GST albeit after the next federal election in 2016, how might this influence consumers?
The content of the budget we need to look at are the possible consequences for employment, economic growth and the flow to consumer confidence in the housing market. In my next post let’s consider how these big-picture points plus the matters already highlighted all combine and consider how we may have to adopt our marketing and product mix.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
 
 
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How the federal budget will impact the housing market: Peter Chittenden

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Development group Stockland will cut 80 jobs as the new chief executive, Mark Steinert, enacts his cost cutting focus, according to The Australian Financial Review.
It reports the $8.6 billion listed property group has cut gross overheads by 10% in the past year and is aiming for another 10% in 2014, with half of that coming from staffing costs and the remainder from better processes and a national approach to procurement.
The cuts follow an announcement by Steinert that cost-cutting would be a primary focus of his regime.
Steinert recently dropped the three ‘r’ focus on residential, retail and retirement, in favour of a focus on medium density residential and retail.
The <a href="https://www.propertyobserver.com.au/australian-capital-territory/stockland-executive-team-shake-up-as-tim-foster-and-mark-hunter-sacked/2013050861155" target="_blank">executive team at Stockland was also given a shakeup</a> recently with the group announcing the departure of chief financial officer, Tim Foster, and head of residential, Mark Hunter.
And Steinert said there was pain ahead for Stockland investors before a recovery from about 2016 onwards with another <a href="https://www.propertyobserver.com.au/residential/residential-recovery-underway-but-more-pain-for-stockland-as-%2449-million-write-down-revealed/2013051261300" target="_blank">$49 million worth of write-downs identified on previously impaired projects</a>.
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Stockland to shed 80 jobs

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Melbourne’s weekend auction clearance rate was 13 percentage points higher than the same time last year, according to the Real Estate Institute of Victoria.
It recorded a clearance rate of 73% at its weekend auctions compared to 60% the same time last year.
It was also up from last weekend which had a clearance rate of 70%.
The REIV says after a small dip in the clearance rate over the school holidays the market has returned to this year’s underlying trend.
It says the recent interest rate cut should help to further boost buyer sentiment over winter.
Of the 617 auctions recorded by the REIV, 453 sold and 164 passed in – 96 of those on vendor bids.
The cheapest house sale recorded was a <a target="_blank" href="https://www.realestate.com.au/property-house-vic-doveton-113587363">three-bedroom, 1-bathroom house on Tristania Street in Doveton</a>, near Dandenong, which sold for $270,000.
In 2011 it was on the market for $290,000 but did not sell, according to RP Data.
According to the REIV, $333 million of property changed hands via auction and $300 million in private sales.
There was a median sale price of $744,500 for houses and $508,750 for units.
REIV’s statistics closely match RP Data’s which found there was a weekly auction clearance rate of 72.7% in Melbourne in the week to May 19. It recorded 596 auction results through the week of which 433 sold.
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