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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Research the background of the developer and its track record.
Have there been court actions against the developer? Does it have a historyof delivering what has been promised and settling disputes quickly and neatly?
“Banks are strict on who they lend to. Banks also look for a good track record before handing over construction finance,”says Tim Rees, director of CBRE residential projects.
The internet is a good tool for research, and look for blogs and newspaper articles.
Do not judge a developer solely by its website, and ensure there is an office where you can meet people face to face.
It is also a good idea to visit the property site and check the location. You may find other construction in the area, which may affect your view.
You should also carefully inspect the display home, models and plans as well as the fixtures and fittings.
For great tips on buying off the plan, download Property Observer’s free ebook – <a target="_blank" rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Make sure the property developer has a good reputation

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Another big auction is on the cards in Melbourne this coming weekend, with a mansion apartment in Armadale about to hit the market.
You will be hard pressed to find an apartment to compete with <a href="https://www.realestate.com.au/property-apartment-vic-armadale-113076279" target="_blank">2/21 Hampden Road, Armadale</a> (pictured below).
It is clearly in a class of its own and lies in Armadale's premier boulevard. The three bedroom, two bathroom accommodation comes complete with an open fireplace and a contemporary kitchen.
<img alt="tycoonmarch15two" height="350" width="470" src="/images/stories/2013/03/tycoonmarch15two.jpg"> As you would expect, a property like this has had many groups showing strong interest in the $950,000 to $1,050,000 quoted price range. Agent Elliott Gill from Bennison Mackinnon anticipates strong competition on Saturday.
Last weekend, the auction for <a href="https://www.realestate.com.au/property-house-vic-collingwood-112993683" target="_blank">24/125 Oxford Street, Collingwood</a> was one out of the box as the bidding flew past the $1.3 million reserve and did not stop until it past $1.5 million.
When all bidders had exhausted themselves the property (pictured below) sold more than $300,000 above the average tip at $1.512 million. Only a handful of Tycoons tipped this result.
<img src="/images/stories/2013/03/tycoonmarch15one.jpg" width="470" height="353" alt="tycoonmarch15one">
 The Sydney market fizzled last weekend with four out of five Property Tycoon properties being passed in. The owners of <a href="https://www.realestate.com.au/property-house-nsw-rozelle-112944407" target="_blank">84A Foucart Street, Rozelle</a> had an offer prior to auction of $1.22 million and decided to take the money and run. It will be a different story this weekend and there will be beers around after the auction of <a href="https://www.realestate.com.au/property-house-nsw-bondi+junction-112905499" target="_blank">25 Paul Street, Bondi Junction</a> as the descendants of beer brewer James Boags house goes under the hammer.  The Grand Old Victorian Lady is in the perfect location opposite the leafy green Waverley Park with schools, shops and transport so conveniently close. Agent Kevin Mendes from Laing+Simmons said there has been very strong interest in the property with 109 groups attending the open houses. While most buyers hold their cards close to their chest he is quietly confident the property will sell for around $1.25M
There's now a website, <a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=KgoIydkbbkqcxEmtHCpjYzenKRip4s8ILx-ixDagf2W2XMdG8J7GWA4FzDXhsR5a7S8fbUw_Jbw.&amp;URL=http%3a%2f%2fwww.propertytycoon.com.au%2f" target="_blank" rel="nofollow" style="font-size: 14px;">www.propertytycoon.com.au</a>, where punters can guess five auction results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener. This season <a rel="nofollow" target="_blank" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" style="font-size: 14px;">Property Observer readers have their own competition, which you can access here</a><a rel="nofollow" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF">.</a> The winner of the overall competition will win $1,000.
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Strong interest in Armadale mansion apartment in Property Tycoon tipping's fourth round

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The number of auctions held in Australian capital cities will climb to 1,799 in the week to March 17, bouncing back from only 995 held the previous week, which was heavily affected by public holidays.
Figures from RP Data show Melbourne is set for 914 auctions in the week to March 17. In the week to March 10, Melbourne had just 227 auctions, with a clearance rate of 62.9%. This was the first week that Melbourne had underperformed when compared to the national average clearance rate.
In Sydney, the auction clearance rate was recorded at a strong 71.4% in the week to March 10, up from 61.1% the previous week. Auction volumes fell from 751 the previous week to 532.
In the week to March 17, Sydney is set for 632 auctions.
Click to enlarge
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Click to enlarge
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Auction numbers set to rebound this week: RP Data

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The fallacy of market predictions
If there is one thing I have learned over the years it is to try to avoid making too many near-term predictions, because they are so often hopelessly wrong.
In mid-2011, for example, due to a mirage of inflation we believed that interest rates were heading higher (they were cut repeatedly by 175bps).
In the past week or two we heard that the stock market “party” was over (the Dow immediately strapped on the after-burners and ripped upwards to all-time highs) and that the Aussie dollar was about to break below parity (cue instantaneous rebound)…
We can produce every chart and technical signal under the sun, but the best that most of us can really hope for is to identify prevailing trends to see whether we can learn anything worthwhile from them.
I noted earlier that RP Data’s property price index has seen prices moving up for the past nine months.
Today, I’m going to look at a few macro trends to see whether we can establish what might happen in the housing market over the coming months.
1 Auction clearance rates
<img src="/images/stories/2013/03/wargentmarch8one.jpg" width="470" height="209" alt="wargentmarch8one"> 
<a href="https://2.bp.blogspot.com/-TmviuWKq3G8/UTbb-iUXIwI/AAAAAAAAIt8/OF5kpaLQkIs/s1600/1+Clearance+Rates.jpg" imageanchor="1"></a>
Source: rpdata.com.au 
Not quite at boom-time levels just yet, but not too far away in some cities. And the trend has clearly been up as the effect of the aforementioned interest rate cuts and low fixed-interest yields flow through in full. Clearance rates in Sydney and Melbourne have been very strong in recent weeks. Resurgent clearance rates can lead to something of a self-fulfilling herd mentality, of course.
Higher auction clearance rates may lead to panic buying and a FOMO (fear of missing out) rally, which in turn leads to more buyers diving which can and appreciating sales prices.
Auction clearance rates are to some extent impacted by:
2 Low interest rates
 <img src="/images/stories/2013/03/wargentmarch8two.jpg" width="470" height="341" alt="wargentmarch8two"> Source: asx.com.au
The cash rate was kept on hold at just 3.00% this month, but the yield curve continues to show that rates could yet fall to record lows of 2.75% or below.
The inversion of the curve was flattened a little by the solid GDP result. But inflation still appears benign and affords the RBA room to cut should further easing be deemed necessary, and the non-mining sectors of the economy remain indisputably weak.
My fair-natured buddy Catherine Cashmore <a href="https://www.propertyobserver.com.au/residential/interest-rates-do-little-to-influence-australian-property-prices-catherine-cashmore/2013011358683" target="_blank">has written recently</a> about the tenuous link between interest rates and dwelling prices.
The dropping of interest rates close to the ‘zero-bound’ is indicative of a sick or a weakened economy and by no means do low rates ensure higher dwelling prices (as evidenced in many countries employing a ZIRP in recent years).
Indeed, the converse may often hold true – interest rates are sometimes high when inflation is high and property prices are flying.
However, it would be accurate to say that in some cases lower rates and cheap credit can stimulate demand and lead to higher prices.
In Australia, notes RP Data, close to 60% of apartments are owned by investors, in part due to the capital city entry prices thereof being lower than those of houses.
Capital city apartments close to the media's beloved median price are likely to be a more interest rate sensitive sector than certain other sectors of property markets.
Notably with regards to interest rates, if both stock valuations and dwelling prices continue to appreciate at the rate they have been over the past three quarters, it is likely that this would preclude further interest rate cuts in this cycle.
But whether or not the cash rate falls lower, mortgage rates are already at very low levels and bank competition for business could potentially see them decline yet further via out-of-cycle cuts.
Continuing demand for property is partly being fuelled by:
 
<hr class="system-pagebreak">
3 Population growth 
We are experiencing very strong in the four major capital cities and this is forecast to be so by the ABS for more than four decades into the future:
<img src="/images/stories/2013/03/wargentmarch8three.jpg" width="470" height="228" alt="wargentmarch8three">
<a href="https://4.bp.blogspot.com/-YURbyMDl8fo/UTbci-IGnpI/AAAAAAAAIuM/bRPYxHH6mzo/s1600/Population+forecasts.jpg" imageanchor="1"></a>
Source: abs.gov.au 
To deal with the rapidly growing population, Australia needs strong:
4 Dwelling construction and approvals 
It is hoped that construction will pick up to plug the gap left by the forthcoming (imminent?) peak in mining investment.
Any dramatic such increase has not yet transpired, which in itself could maintain an effective lid on interest rates.
Approvals for apartments have increased year-on-year (although they have declined in some parts over recent months), but are still some way short of where they might be.
In any case, approvals don’t solve the problem of:
5 New house sales These have picked up a little over the last couple of months but as measured on a historical basis, new house sales figures are diabolical, particularly in states such as New South Wales (rolling annual figures down from ~40,000 at the turn of the century to just ~10,000 according the HIA).
New house sales in other states such as Queensland, South Australia and Victoria are also desperately weak.
Why is this? Presumably largely due to the prohibitive cost of new dwellings and particularly houses.
Many homebuyers and many investors have identified that existing dwellings may offer superior ‘value’ and thus are likely to be drawn towards the limited supply of existing stock.
Choked supply and high demand results in low vacancy rates in existing dwellings, and further to: 6 Expensive rents Rent levels vary depending on the city or region, but in many areas of low vacancy rates rents have been <a href="https://www.propertyobserver.com.au/landlords/the-best-investment-properties-are-those-with-the-best-rental-returns-michael-matusik/2012032153952" target="_blank">blasting ahead of inflation</a> for years now.
Higher rents can cause those leasing to consider buying, and the first thing they are likely to consider is: 7 Affordability
Ah, “affordability”: one simple little word which is always guaranteed to generate a headline, and one which commonly attracts no little vitriol.
It is well known that, just as in most of the world’s major cities, house prices in the popular suburbs of Australia’s main capital cities are not “affordable” on just about any metric you may care to mention.
That is not something which is likely to change any time soon (or, in fact, ever).
With mortgage rates now available from an incredibly low 4.79%, however, apartment prices are (generally) relatively affordable in terms of today’s repayments (“the best affordability in a decade!” <a href="https://www.smh.com.au/business/the-economy/rate-reductions-boost-home-affordability-20130306-2fk25" target="_blank">we are reliably informed</a>).
This may or may not continue to be the case as and when interest rate easing cycle reverses, but that particular ‘can’ is likely to be kicked well down the road.
Take the example of Australia’s most expensive metropolis: Sydney.
RP Data records the median apartment price in that city as having jumped by around 5% in the past 12 months to $475,000.
With low-rate mortgages so freely available and buyers clamouring for a choked supply of quality apartments, is it any wonder?
Even if you hold an 80% mortgage against a median priced apartment in Australia’s most expensive city, the interest component on, say, a mortgage charged at 5.00%, has fallen to just $19,000 per annum.
I don’t have a comprehensive data set to substantiate the following point, but my own experience tells me that, in these heady days of rat-wheel capitalism, Sydney’s aspirational inner suburbs have a proliferation of two-income households which fuels higher prices.
Trends to look out for 
Interest rates (and correspondingly, mortgage rates) look set to stay close to record lows for quite some time to come yet.
Watch out for high auction clearance rates causing an increase in the price of properties close to the median price over the coming months. This may eventuate is hot sectors of the market such as Sydney's Inner West or in parts of Perth, but is unlikely where there are a glut of apartments such as in the ACT. Strong price growth will only occur in areas where demand is outstripping supply.
If rising prices do eventuate then the RBA may soon be forced to pull the handbrake/take away the punchbowl/insert clumsy metaphor here.
Pete Wargent holds a range of finance and property qualifications and is the author of <a rel="nofollow" target="_blank" href="https://petewargent.blogspot.com.au/">Get a Financial Grip – a simple plan for financial freedom.</a>
 
 
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Cheap credit fuelling price growth in some property markets: Pete Wargent

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Dark and dreary workstations may be a thing of the past with the introduction of a new way of working that does not include a personal workspace.
Companies such as GPT Group, Macquarie Bank, Microsoft, and KPMG have jumped on the activity-based working (ABW) bandwagon.
A Colliers International 2012 Office Tenant Survey also revealed that one in three organisations have implemented or are planning to implement ABW.
Most recently, CBRE Sydney has adopted the ABW model, following in the footsteps of its Amsterdam office.
Other CBRE offices around the world are expected to adopt a similar fit-out model.
The ABW model abolishes assigned workstations, while embracing a broader workspace categorised according to activities, providing different spaces for collaboration, learning, focusing, and socialising.
CBRE Sydney, which has relocated to new offices within 363 George Street (pictured below), is Australia’s first CBRE office to take on the ABW model. Its new office boasts diner-style booths complete with plush cushioning, large windows with a gorgeous view of the harbour, and round wooden tables.
<img alt="cbremarch13one1" height="353" width="470" src="/images/stories/2013/03/cbremarch13one1.jpg">
The interiors were designed by WMK Architecture in partnershp with CBRE.
John Andreas, director at WMK Architecture said CBRE’s new workplace went beyond ABW, but was a "tailored, real world solution which acknowledges what people actually do in the workplace and delivers a unique environment that combines a sophisticated business approach with a contemporary lifestyle flavour".
The fit-out has allowed CBRE to reduce its space requirements by over a quarter and cut down the number of work stations to 200, after finding that only two-thirds of staff are in the office at one time.
CBRE President &amp; CEO, Australia &amp; New Zealand, Tom Southern said the new office was a positive development in the evolution of CBRE Sydney.
“Our new workspace has given us the unique opportunity to increase collaboration, enable greater flexibility and instigate change in the way our people work,” says Southern.
“To meet our practical needs we have integrated a lot of clever ways to work, and we’ve invested in a range of new features and technology.”
“The activity-based workplace is a broad concept, and one on which every organisation has a differing definition. A tailored version of the ABW model, designed to suit our specific needs, has been applied to our new Sydney office.”
<img alt="cbremarch13two2" height="377" width="470" src="/images/stories/2013/03/cbremarch13two2.jpg">
The colour scheme of CBRE’s new premises also reflects the vibrancy of the new working model. Neutrals like dark brown, grey, and black take centre-stage, while dollops of lime green keep things fresh and interesting.
“The design we have selected has a modern, progressive feel that truly reflects our business and our culture as well as providing an interesting take on the traditional corporate space,” says Southern.
The new office has also allowed the CBRE Global Corporate Services (GCS) operations to join the Sydney CBD office through a smarter management of technology and space.
As a global property services firm, CBRE’s NSW managing director James Patterson said it was important that CBRE was forefront of these types of changes.
He has witnessed a transformation in staffing operations despite the short time they have spent in their new office.
“During the course of a day, our people undertake many different activities that require different work settings with various levels of collaboration. The new office incorporates a variety of work spaces for staff to choose including work stations, think tanks, quiet rooms, meeting rooms, a CBRE Bar (known as the CBar) for client entertaining, and a substantial staff breakout area,” he says.
<img alt="cbremarch13three3" height="419" width="470" src="/images/stories/2013/03/cbremarch13three3.jpg">
Jo-Anne Harrison, head of CBRE project management, says the change has been mostly well-received by staff, in spite of initial reservations about moving to the ABW model.
Sustainability was also a key consideration when planning for the new office commenced.
CBRE head of sustainability for Asia-Pacific Rebecca Pearce says they have reconsidered many of the company’s operating procedures to reduce carbon emissions.
“Energy efficiency improvements will be achieved through new lighting (with occupancy sensors) to office and client areas and new IT equipment that has been selected and set up for optimal energy savings both inside and outside the office, reflecting our new flexible working arrangements.”
“Our new fit out has been planned to optimise the Indoor Environmental Quality (IEQ) and the 363 George building management team continue to work on improving base building related IEQ measures,” she says.
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dleow-BGaNPbHWyK

CBRE embraces flexible working space in Sydney office

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Canberra’s Molonglo Valley First Release Sets the Foundation
One of the key points about Canberra’s Molonglo Valley is that <ins cite="mailto:Administrator" datetime="2013-03-06T15:09"></ins>the development might well take as much as fifteen years to complete and there is no doubt that market dynamics will change constantly. Fifteen years is a long time to be in the market, but with large projects of this kind it is not uncommon, even much smaller projects are frequently in the market for 3 – 5 years. It’s a hallmark of this facet of project marketing and as a result there are some conventions that we need to be aware of and always aim to tick-off. Step one is a highly successful launch.
Any project launch is important, because it sets in place the ground rules for how the brand will be seen in the market. If the brand gets off to a flying start, as was the case with Molonglo Valley, then future success will be more readily assured as the brand then moves from strength to strength.
By contrast, a poor start takes a lot of hard work to reverse, over time it’s not impossible, but if we look at how Molonglo Valley was launched we can see some clear pointers on <ins cite="mailto:Administrator" datetime="2013-03-06T15:10"></ins>how to achieve an outstanding launch. And that’s the result every project is looking to achieve.
Solid Planning and Some New Ideas
Every major land estate development will be sold in stages, and market conditions will always dictate how and when each stage is released. While other projects can also be released in stages the land estate environment is very different because of a number of key factors. One difference is the amount of time involved and the second is the reality that while new stages are planned and sold, early stages will already be complete and residents may well be living in their new homes. Your brand if you like is being tested while you are still very much in the market and this sets up some ongoing marketing dynamics that I will return to.
In this light the first release of 100 blocks at Molonglo Valley had the marketing team on the starting blocks facing a very long race, and for everyone involved the goal to achieve a great launch was clearly understood. In the Canberra market this had been a much anticipated land release, there was clearly pent up demand, the land would be popular but still there was a need to engage the market with a product that was still very much a vision.
First Release by Auction
"Almost immediately after the ACT Government announced that the land would be developed for residential housing we had buyers and builders eager for the first release, I think it was clear that Molonglo Valley would be a new chapter in Canberra's history and many people wanted to be a part of it."
“The market was ripe with expectation and so our role was to work and manage this first release, already aware that since the first announcement was made more than 1000 expressions of interest had been received.”
According to Shane Radnell, General Manager of Residential Land Estate Marketing at Colliers International Canberra, this was the market setting the scene for one of the largest land auctions of its kind and what would be a record event for Canberra’s residential market.
With agreement that the first release would be built around a sales path culminating with an auction in June 2010, the marketing of Molonglo Valley got underway.
No Site Inspections Possible
Formal registrations of interest for Molonglo Valley got underway on Friday 23rd of April 2010 and the results as might have been expected were immediate, many more people anxious for information soon joined the already 1000 early birds.
The opening of registrations was however preceded by intense planning and a variety of key marketing assets were in place to ensure that this wave of activity was well managed.  However outside of all of this bluster was the fact that the site of the first release was planned, and the suburbs had a name Wright and Coombs, but beyond that the land had not yet been developed, it was not possible to visit the site, walk the streets or physically see the blocks that were to be taken to market.
Clearly by any account this was a unique challenge, if you like we could make the comparison to selling apartments ‘off-the-plan’ but there was for want of a better comparison not display apartment. The location was familiar and the entire location could be seen from some nearby vantage points and so the gap had to be filled and this is where the team at Colliers International in Canberra delivered with a strong marketing plan and more than a few ounces of inspiration.
“Before we moved to open formal registrations in April we already knew that with an auction date of 19th June, we would face an intensive sales path and so we had to plan a robust plan.
“The sheer number of people who had registered in part dictated that how we managed and presented the details about Molonglo Valley would need to give our potential buyers, both private buyers and builders, the information and reassurance they needed to buy at auction, otherwise the process could have failed,” said Shane Radnell.
The sales path was built around several key steps, some will be familiar with the use of some new technology being a first and a clear way of adding lasting value to the brand.
 
<hr class="system-pagebreak">
Getting Value from Registrations
As might have been expected once formal registrations were announced the project website received an immediate and ongoing rush, and registrations were required to secure a time to visit a purpose built CBD sales centre. Every person who made a registration request was then contacted by the sales team and given help with all the information they required, this involved a great deal of buyer interface and as I have frequently pointed to this was not a process driven by auto-response or a self-select menu.
By the time any of the people who had registered came to the sales centre, they were already well versed in the process and would have been somewhat familiar with both Molonglo Valley and the sales team member looking after them.  I have always championed this level of personal connection and on auction day this level of familiarity and informality would be important.
The Sales Centre
Well ahead of the call for registrations and during the modest pre-launch advertising campaign a purpose built sales and information centre was completed.
The location of this centre was again a key part of the sales path, it was located in Canberra City in New<ins cite="mailto:Administrator" datetime="2013-03-06T15:12"></ins>Acton in an easily accessible spot with ample nearby parking and was open out of normal business hours. According to Shane Radnell, the aim was to make it as easy as possible for people to visit via scheduled appointments and the centre is still in use today.
“The sales centre and its contents were a key part of a very deliberate sales path, the centre was very spacious, even understated, it had high ceilings and a level of quality that some land estates do not usually offer.
“It was all about creating an open comfortable impression, direct sales material was very limited, we concentrated on helping potential buyers understand the site to make this first impression Molonglo Valley a stand out and we used a new form of interactive table top technology to aid the sharing of core information. ‘Hii’ as the unit is <ins cite="mailto:Administrator" datetime="2013-03-06T15:12"></ins>now know, was <ins cite="mailto:Administrator" datetime="2013-03-06T15:12"></ins>the first application of its kind.”
New Technology
‘Hii’ or Human Interactive Interface was a new tabletop application first used to launch Molonglo Valley, is <ins cite="mailto:Administrator" datetime="2013-03-06T15:13"></ins>an interactive platform that the sales people drive. The system allowed complex and detailed information to be displayed at a very engaging level taking buyers on a visual journey that started with an aerial birds-eye view of the site and then drilled down to the full details of individual blocks.
Then at the end of the presentation all of the selected details were instantly sent by email to the buyer. Feedback was excellent and buyers clearly indicated that the Hii unit helped give them a very clear picture of Molonglo Valley.
Results – Nothing Taken for Granted
Reading many of my and Shane’s comments you might be initially tempted to think that Molonglo Valley was at its launch gold-plated, high demand, a great location, big blocks and affluent target market, and while all of those facts are true, any new release always involves risk.
In Canberra there were several very high hurdles to jump that only solid planning and the delivery of key assets overcame to help ensure the delivery of the outstanding results that were achieved. In my final Molonglo Valley post I will recount these and bring us up-to-date with where the project now sits in 2013 and I will also take a look at Canberra’s Land Rent Scheme, which is part of the ACT Government’s Affordable Housing Action Plan.
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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Molonglo Valley's successful launch is a great example: Peter Chittenden

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All purchasers must define their own needs. Owner-occupiers are different to investors and want very different things from property. Investors who purchase off-the-plan should be buying for the medium- to long-term.
“Buying for the short-term is risky in the current environment. Look to holding a property for five to 10 years, and that will allow you to ride out any negative movements in the market that could reflect in the value of the property. If you stick with the long-term you will end up with solid capital growth,” says Tim Rees, director of CBRE residential projects.
Investors, who accounted for about 70% of sales six years ago, once dominated buying off-the-plan. But the tide is turning.
Rees says that owner-occupiers have become shrewd in buying property off the plan in recent years, and that purchases off-the-plan have become popular.
The tight residential market in Sydney, where owner-occupiers have seemingly embraced buying off-the-plan or face never getting started on the property ladder, has driven this, Rees says.
“In Sydney there are not many apartment buildings these days that are not already sold when they are finished, so they do not add anything to the available housing stock.
“This keeps the market competitive and tight, and owners-occupiers understand that buying off-the-plan is a reputable way to buy and no longer the domain of investors,” Rees says.
However, do not always assume that property prices are going to rise. There have also been cases of people paying far more for a property at settlement than they could hope to sell it for in the current market.
When you are considering what might happen to property prices from the time you sign the contract to settlement, you should also research what other projects will be completed over this time frame in the same area.
There could, for example, be a glut of apartments being marketed off-the-plan or due to commence construction, which could create an oversupply rental situation or reduce values.
For great tips on buying off the plan, download Property Observer’s free ebook – <a rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" target="_blank">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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lschlesinger-FZcF9M3vE6

Take into consideration rising and falling values: tips for buying off-the-plan

<html><body>Australian Property Monitors (APM) has released a list of results from 327 auctions in Sydney for the weekend of March 9. The clearance rate was 73%. <a rel="nofollow" target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's 327 Sydney auction results show 73% clearance rate

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As we predicted, two Reserve Bank of Australia meetings have passed and the cash rate has not budged from 3%.
One only has to read the <a target="_blank" href="https://www.rba.gov.au/media-releases/2013/mr-13-04">statement by RBA governor</a> to see: "In Australia, most indicators available for this meeting suggest that growth was close to trend over 2012, led by very large increases in capital spending in the resources sector, while some other sectors experienced weaker conditions. Looking ahead, the peak in resource investment is approaching. As it does, there will be more scope for other areas of demand to strengthen."
I stated in previous posts that I can’t see the official cash rate going below 3% and I now lean towards <a target="_blank" href="/news" title="no rate cut in April as HSBC pencils in rate hike towards end of the year. ">no rate cut in April as HSBC pencils in rate hike towards end of the year.</a>
<a target="_blank" href="/news" title="no rate cut in April as HSBC pencils in rate hike towards end of the year. "></a>HSBC chief economist Paul Bloxham says low inflation (currently well within the the RBA’s target of 2% to 3% band at 2.2%) means an easing bias still remained and the RBA could cut rates if necessary, but he highlighted the following comment by RBA governor Glenn Stevens in the monetary policy statement, which suggests a brighter outlook.
"During 2012, there was a significant easing in monetary policy. Though the full impact of this will still take more time to become apparent, there are signs that the easier conditions are having some of the expected results."
Australia is fortunate that the RBA has a positive cash rate, with which they can act where necessary. This is in contrast to other central banks that have no room to stimulate their economies given their cash rates are stuck on zero.
The debate has now turned to <a title="major banks can and should cut variable rates independently of RBA: Bernie Fraser" href="/news" target="_blank">major banks can and should cut variable rates independently of RBA: Bernie Fraser</a>, which I don’t believe will happen as it is becoming increasingly obvious that the big banks are doing private sweetheart deals with clients.
<a title="Borrowers should not be paying more than 6% on their home loan: RBA charts" href="/news" target="_blank">Borrowers should not be paying more than 6% on their home loan: RBA charts</a>. Further proof is that <a title="one in four looking to split their home loan between fixed and variable: Loan Market" href="/news" target="_blank">one in four looking to split their home loan between fixed and variable: Loan Market</a>. The mortgage-broking group says that over the past four weeks 27% of their inquiries have been from borrowers wanting to split a portion of their loan between fixed and variable. This is a 70% increase on the number of borrowers looking to split their home loan a year ago. On that basis it would be reasonable to suggest that we can expect this number to increase further in the months to come.
<img alt="simeonmarch11one" height="259" width="470" src="/images/stories/2013/03/simeonmarch11one.jpg">
<img alt="simeonmarch11two" height="346" width="470" src="/images/stories/2013/03/simeonmarch11two.jpg">
<a title="Economic optimism ‘unjustified’: Westpac economist" href="https://www.businessspectator.com.au/bs.nsf/Article/Economic-optimism-unjustified-Westpac-economist-pd20130306-5JMT5?OpenDocument&amp;src=hp30" target="_blank">Economic optimism ‘unjustified’: Westpac economist</a> is an amazing commentary, in which Westpac Banking Corp Ltd's senior London economist James Shugg says: “We have a situation where $US 85 billion ($A82.6 billion) a month is being pumped into the US economy, interest rates are at record lows and the economy is only growing at 2%.”
<a title="Canberra facing long – term budget deficits: report " href="https://www.businessspectator.com.au/bs.nsf/Article/Aust-facing-long-term-budget-deficits-report-pd20130304-5FRNS?OpenDocument&amp;src=tnb" target="_blank">Canberra facing long – term budget deficits: report </a> states that “Australia faces deficits until 2025 without policy changes, as modelling for the Minerals Council of Australia shows the impact of the removal of higher commodities prices and changes in the economic cycle on the budget.” One only has to see how this proposition is fractured due to massive bungles by Wayne Swan and Treasury (<a title="Five fractures in Swan’s treasured friendship" href="https://www.businessspectator.com.au/bs.nsf/Article/swan-treasurer-politics-parkinson-khmlani-pd20130304-5FS8L?OpenDocument&amp;src=sph&amp;src=rot" target="_blank">Five fractures in Swan’s treasured friendship</a>). It should be noted that Australia’s public debt – which has grown 150% since 2007 –  currently sits at $265 billion, third only to Iceland and Ireland.
To put this into perspective, <a title="BCA warns Labor that its budget plan is failing " href="https://www.businessspectator.com.au/bs.nsf/Article/Labors-budget-plan-failing-business-says-5HH66?OpenDocument&amp;src=hp3" target="_blank">BCA warns Labor that its budget plan is failing </a>– the federal government risks damaging economic growth if it stoops to ad hoc new taxes and revenue grabs in this year’s budget. This would be further explained in the latest edition of <a title="CEO Pulse " href="https://www.businessspectator.com.au/bs.nsf/full-coverage?openview&amp;restricttocategory=ceo+pulse" target="_blank">CEO Pulse </a>where the CEO’s scorecard for the government’s performance in managing the economy is up slightly to 3.3 out of 10. A woeful score!
In the March 2012 quarter Mosman houses peaked at 144; now we see volumes are already declining to 103. It is just not Mosman – the pattern is common for all of our demographic markets.
Source: Domain Property Monitors
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 144 • Number of houses on the market last week – 105 • Number of houses on the market this week – 103
• Number of apartments on the market this time 2012 –115 • Number of apartments on the market last week – 76 • Number of apartments on the market this week – 76
<h4></h4>
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 19 • Number of houses on the market last week – 17 • Number of houses on the market this week – 17
• Number of apartments on the market this time 2012 – 25 • Number of apartments on the market last week – 20 • Number of apartments on the market this week – 15
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 20 • Number of houses on the market last week – 15 • Number of houses on the market this week – 14
• Number of apartments on the market this time 2012 – 65 • Number of apartments on the market last week – 39 • Number of apartments on the market this week – 43
For this week’s sales in Cremorne real estate, Cremorne Point real estate, Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Neutral Bay real estate, Cammeray real estate, <a target="_blank" href="https://www.rwm.com.au/news/">click here</a>.
For this week’s open for inspections, <a target="_blank" href="https://www.rwm.com.au/sales-list/open_times_sales/">click here</a>.
<img src="/images/stories/2013/03/simeonmarch11three.jpg" width="470" height="245" alt="simeonmarch11three">
<a target="_blank" href="https://www.afr.com/p/business/companies/rba_quietly_increases_banks_bailout_ksLcB6WlebkzfQ89p3pPAK" title="RBA quietly increases banks’ bailout buffer">RBA quietly increases banks’ bailout buffer</a> is a fascinating read for those intrigued by the new Basel III requirements.
The only institution that I see defaulting at this point of time is the federal government on its latest spending promises. The CEO’s competency score of 3.3 out of 10 says it all.
Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" target="_blank" rel="nofollow" style="font-size: 14px;">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank" rel="nofollow" style="font-size: 14px;">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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robertsimeon-hRNTwJyXkQ

Government struggles as business improves: Robert Simeon

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The six-bedroom Potts Point terrace of Fat Prophets boss Angus Geddes fetched $2.18 million at its recent auction, selling $180,000 above the quoted price.
But the triumphant result was actually emblematic of the growing misconception that is emerging from the 70% clearance rates of recent weekends.
As the stockbroker Angus Geddes, founder and chief executive of Fat Prophets, and his wife, Maryam, had paid $2 million for <a target="_blank" href="https://www.mcgrath.com.au/buy/house-potts-point-nsw-2011/174089/?searchID=27019105">their grand Victorian terrace residence</a> (pictured below) in 2008.
<img alt="pottsmarch11one" height="313" width="470" src="/images/stories/2013/03/pottsmarch11one.jpg">
That represents 1.8% annualised growth over the past five years.
The Geddes had formed the view – no doubt with the guiding assistance of the listing agent who became the selling agent – that the price achieved was "at the top end of our range at auction."
<img alt="pottsmarch11three" height="313" width="470" src="/images/stories/2013/03/pottsmarch11three.jpg">
But while Angus Geddes comes from an industry with no stamp duty and low commission fees, the $180,000 windfall was severely reduced by the $96,000 NSW stamp duty, and then several other selling costs and holding charges.
Hardly fat profits for the well-heeled professional classes.
And OK, so a bit over reserve but certainly nowhere near the requisites to warrant the recent headlines saying it's back to boom times. Ditto the weekend's top sale which was $2.9 million in Randwick. The Govett Street house had last traded at $2,705,000 in 2006, thereby reflecting 1.1% annualised growth.
In Melbourne, mimicking the same trend, fashion designer Alannah Hill’s South Yarra terrace recently sold for $4.365 million - $150,000 above the reserve price - but having traded at $4.31 million in 2010.
There's actually an acute price sensitivity that belies any boomtime enthusiasm traits.
Those recent headlines have been nothing short of reckless – arising from the one obvious characteristic of auction clearances in Melbourne and Sydney being around 15 percentage points higher than a year ago.
What has happened is that for the first time in years both vendors and buyers are on the same page pricewise, so auction successes have become the norm. Estate agents have needed to be patient and pursuasive to get the market to this juncture which began to emerge in spring last year when clearance rates didn't tail off as per normal.
What's interesting is that Sydney's 2013 APM auction volumes have, after a slow start, kicked along well up on the volumes of last year – possibly due to the late 2012 bouyancy along with the early Easter scheduling – but tellingly overall SQM listings are markedly down. Melbourne just has more and more listings.
True vendors must have a dose of reality that their desired prices are not at boomtime levels, and in some cases not even at pre-Global Financial Crisis levels. Buyers have to pay a little more than their initial hopes.
Thankfully, the senior property commentators at RP Data and Australian Property Monitors were out over the weekend to dampen things down.
“It is a run, not a boom,” Andrew Wilson, the Australian Property Monitors senior economist, told The Australian Financial Review.
“The best term is recovering,” says Tim Lawless, research director of property information provider RP Data.
Lawless predicts that, with the current modest gains in prices, values will regain the 2010 peak only by the end of the year.
And I'd suggest let's all see how the inevitably-hyped March 23 super Saturday results fare, with APM advising Property Observer to expect 670 auctions in Sydney and 1100 in Melbourne in the pre-Easter crescendo.
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