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>.

Joel Robinson

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

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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

<html><body>Australian Property Monitors (APM) has released a list of results from 312 auctions in Sydney for the weekend of March 16. The clearance rate was 75%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 312 Sydney auction results show 75% clearance rate

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Large measurements such as inflation, employment and balance of trade are important indicators of economic wellbeing, but economies come down to households having enough confidence to commit to property purchases.
I’ve been keeping my eyes on property markets for the last two years, wondering when we would break out of the spiral of low confidence, a withdrawal from property and the consequential flattening of property values.
In the past week we’ve seen a couple of flickers of a revival.
In the latest Australian Bureau of Statistics figures, the total value of dwelling commitments (excluding renovations) rose 0.6% in January over December.
It’s a modest shift, but it’s in the right direction.
More dramatic is the RP Data-Rismark Home Value Index, which found that five of Australia’s eight capital cities experienced house value rises in February.
The eight capital cities’ average house values rose 0.3%, following on an eight-city rise of 1.2% in January. Canberra house values rose 1.9%, Melbourne by 1.5% and Sydney had a 0.1% rise.
RP Data singled out Melbourne: because it’s Australia’s second biggest property market, it pulled up the research company’s index. It’s a good sign.
A few rises in house prices does not make me totally relaxed. We also have to find evidence of renewed consumer confidence.
This week I found such evidence with the release of the The Westpac-Melbourne Institute Index of Consumer Sentiment, which rose 2.0% in March and produced the highest confidence figure in that index for two years.
Could it be that Aussies are waking up to the fact that credit is cheap right now?
Interest rates began their drop in November 2011, so we’ve had slightly more than a year of lowering interest rates to make people rethink their financial commitments and to reassess the property market.
There’s no cause for breaking out the champagne just yet. But from my perspective, it’s looking like a very good time to buy property with a home loan.
Property has only just started its revival, meaning it’s coming off a low base in most parts of Australia and is still largely a buyer’s market. Also, interest rates are at historic lows – the cash rate was at 3.0% in those middle months of 2009, but other than that, we have the lowest cash rate since 1996.
With employment still looking strong and inflation low and stable, it’s an excellent time to buy property.
Also, the cost of funds to mortgage lenders is easing this year, so this isn’t just a good time to raise a new mortgage and buy the dream. It’s also a good environment to ask your current lender for a better deal.
There are no free lunches with property. As I tell people, you have to do your homework, buy well, borrow smart and remember that property makes its greatest sense when held for at least ten years.
Good luck.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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It’s looking like a very good time to buy property with a home loan: Mark Bouris

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Property investors can use limited recourse borrowing (LRBA) to fund off-the-plan investments using their self-managed super funds.
Under this strategy, your SMSF receives a concessionally taxed rent, pays off the loan while you are still working, and transfers the property to you upon retirement.
After your retirement, you can either:
• Take the property as a non-cash, lump-sum benefit (although capital gains tax is payable on any capital profit, the tax rate is an effective 10% – if the property was owned by the fund for at least 12 months); or
• Buy the property from the fund for its market price. No CGT is payable if the property is backing the payment of a superannuation pension, but you are personally liable for stamp duty.
Under limited recourse borrowing rules SMSFs require a separate lending arrangement for each “single asset”.
In May last year, the ATO clarified what constitutes a single acquirable asset and provided a specific example of what constitutes a single asset in relation to a completed apartment: “The trustees of an SMSF enter into a contract to purchase a strata-titled apartment off the plan. A deposit is required upon entering into the contract, with the balance to be paid upon settlement for the completed strata-titled apartment.
“A single LRBA can be entered into to fund both the deposit and the balance to be paid under the contract upon settlement. Both the deposit and the settlement payment are applied for the acquisition of a single acquirable asset being the completed strata-titled apartment.”
According to AMP financial planning, the ruling recognises that “generally speaking, under LBRA rules, the single acquirable asset is considered to be the completed strata-titled unit, or land with a completed house on it – despite the fact that the building activity is yet to occur”.
As a result, where a contract is entered into for a unit off the plan or a house and land package, both the initial deposit and the final payment upon settlement can now be funded by a LRBA.
Previously, under the draft ruling, it had been suggested that the initial deposit for these types of transactions would need to have been made from existing SMSF assets.
Mortgage Choice broker Michelle Towner,who specialises in helping investors acquire apartments off the plan using SMSF borrowing rules, stresses the importance of these investments being structured correctly and that buyers must engage a qualified financial planner, lawyer or accountant to draft up the contracts.
She says the contract needs to be worded correctly so that when the asset is transferred from the bare trust to the super fund, the SMSF beneficiaries don’t risk having to pay double stamp duty.
The bare trust is the arm’s length holding trust that holds the property until the mortgage has been paid off.
In particular, any off the plan contract must be written to say the deposit is for the acquisition or deferred purchase of the property, not just an option or right to buy the property.
Investors will need to work with a professional to ensure the borrowing arrangements are worded and structured correctly.
For great tips on buying off the plan, download Property Observer’s free ebook – <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" rel="nofollow" target="_blank">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Consider buying off-the-plan using your self-managed super fund

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Accessing financing for new residential developments continues to be a problem for smaller developers, says assistant RBA governor Christopher Kent.
“While finance is available to households on relatively favourable terms, some developers continue to report difficulties in obtaining finance for new construction, with banks requiring a higher proportion of pre-sales than was typical prior to the global financial crisis,” said Kent in a <a href="https://www.rba.gov.au/speeches/2013/sp-ag-140313" target="_blank">recent speech</a> to The Australian Institute of Building in Sydney.
Obtaining funding is not so much of a problem for large developers.
“According to the Reserve Bank's industry liaison, large developers that have a good reputation and a strong balance sheet have access to credit, while small developers have tended to experience more difficulty in borrowing funds,” said Kent.
A 2013 insolvency and distressed assets white paper by Colliers International found that development sites overtook industrial property in 2012 in terms of number of distressed assets on the market across Australia, followed by the industrial, commercial, residential and rural and agribusiness sectors.
<img src="/images/stories/2013/distressed_assets.gif" width="600" height="391" alt="distressed_assets">
“Three sectors, in particular, saw a big spike in the number of distressed assets coming to market; being development sites, rural and agribusiness, and mixed-use developments,” says Felice Spark, director of research at Colliers International and author of the report.
Queensland had the highest number of distressed property assets listed for sale over 2012 with 395 properties listed for sale - a 3.5% increase compared with the 382 properties advertised for sale over 2011.
The biggest increase in distressed assets listed for sale state-by-state occurred in Victoria where there was a 56% increase with numbers rising from 61 properties listed for sale in 2011 to 95 properties listed for sale in 2012.
New South Wales saw a decline in the number of distressed properties on the market, falling back slightly from 256 properties to 242 properties.
“The banks have now begun pushing through, forcing properties to be put to market, with a trend towards secondary or regional-based property,” says Spark.
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Smaller developers struggling to get funding as banks require higher pre-sales: RBA

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I wrote a few weeks ago regarding the potential stagnation that is likely to affect our property markets into the future, due to an increasing number of first-home buyers failing to enter onto the initial rung of the property ladder - and the evidence continues to mount.
Despite the widely spruiked improvement in ‘affordability’ (which comes on the back of continually low lending rates and renewed optimism from investors, in turn helping transaction figures increase from a very low base), first-home buyers are simply not responding.
As <a href="/news">Larry Schlesinger</a> reported on Property Observer last week, overall numbers for this demographic have fallen to a near eight-year low with the latest ABS data showing a drop of 11% in mortgage commitments between December 2012 and January 2013.
It paints a woeful picture buried in an economy which remains the envy of our Western counterparts, and has subsequently left some wondering: can it continue to rise without a consistent contribution from the first-home buyer sector?
Recent research from RP Data is also emphasising the potential side effects of our stagnated home-buyer market, with the average length of ownership for both houses and units now sitting at 9.3 and 8.2 years respectively.
Cameron Kusher from RP Data assessed the increased holding periods in light of an overall lower volume of transactions. He concluded that high property prices, along with inflated agent commissions and stamp duty charges, were acting as a disincentive for owners wanting to sell.
However, considering there’s been such a marked increase in the length of time property owners choose to ‘stay put’ – periods which have jumped well over 30% on those recorded 10 years ago – I’d suggest deeper concerns are playing into the equation.
For units, the rise in the relative holding period over this ten-year period is even more so than that of houses – pushing towards a 39% increase. As apartments are generally considered the ‘foot through the door’ property type that attracts a younger first-home buyer demographic, and a forthcoming supply of new unit developments has been fairly robust across the major capitals, you could be forgiven for expecting the turnover of home buyers upgrading to larger dwellings to be evidenced by a shorter holding period rather than longer as shown.
However, the vast majority of inner city established unit and apartment stock is investor-owned (close to 70% in some localities), therefore it’s fair to assess the ‘buy and hold for the long term’ mindset is bearing a significant influence in restricting supply for the lower-priced sector of the market. This results in a bottleneck of demand and longer holding periods; demand that a proportion of first-home buyers struggles to compete against.
As I previously pointed out, property to some extent connects together like a flowchart. Supply is fed in from the bottom to allow those upgrading (and then downsizing) a ready market to sell to in order to make the move.
When this flow is intercepted and holding periods subsequently increase, a growing minority of low-income workers find themselves sandwiched between rising rental prices and scant opportunity to exit the merry-go-round of funding someone else’s investment.
It has puzzled some that, regardless of this first-home buyer lull, there’s been a marked improvement in most markets across Australia. The latest RP Data mortgage index is also showing a strong surge in the number of loans advanced over the eight weeks to March 10, reaching “the highest reading since August 2009.”
The question remains whether the upsurge in price growth can be sustained without the first-home buyer sector; can it produce the annual 10% rise for 2013 many ‘economists’ are now all but assuming based on barely three months of daily and somewhat bumpy data?
This would once again push median values past both inflation and wage growth – good for those who already have a property and for the real estate industry as a whole – but increasingly painful for a younger generation who will no choice but to take out increasing levels of ‘debt’ to fund their accommodation.
As the champaigne corks are being popped, a few moderating voices have come to the fore. David Llewellyn-Smith in his piece <a target="_blank" href="https://www.smh.com.au/business/is-australian-property-worth-the-risk-20130308-2fpgd">‘Is Australian Property worth the Risk?’</a> was one such voice to provide a balance to some of the bullish commentary we’ve seen of late - commentary which on the one hand happily informs how ‘affordable’ property is, whilst blithely high-fiving an onward return to ‘peak’ prices with the other.
David suggested that due to APRA enforcing banks to lend dollar for dollar against deposit growth (“growing at 7% per annum and falling”), credit availability was bound to be constrained.
It’s a fair point, although I often wonder exactly what APRA is doing to ‘constrain’ lending, considering individual bank risk models are arguably developed and manipulated behind closed doors.
This aside - inflation to some extent has less to do with the overall money circulating in the system, and more to do with where the current supply of money is being channelled.
In other words, although constrained lending has an impact (particularly for first-time buyers), and GDP data highlights a fall in disposable household incomes by approximately 0.2% over the past year, Australians are still saving more, and aiming to shore-up these remaining funds into ‘safer’ long term assets.
Therefore, as housing acquisition continues to be the preferred model of investment for around 42% of our current buying market – even with constrained lending – inflation can be expected, at least for the short term.
 
<hr class="system-pagebreak">
In essence, it’s the investor demographic that is primarily placing a floor under the ‘affordable’ bracket of our “estimated $4.86 trillion” (RPData) housing market, thereby preventing any setback in price growth resulting from a lack of first home buyer participation.
Last week <a target="_blank" href="https://propertyupdate.com.au/property-investors-blamed-for-housing-affordability-woes/">Michael Yardney</a> defended investors against any suggestion that large numbers choosing to invest in inner city terrains were adversely affecting first home buyers.  Michael Matusik was another voice that came to the fore suggesting first-home buyer expectations are ‘out of whack’ considering 60% of those purchasing last year chose properties with four bedrooms or more.
In light of the low percentage of first home buyers overall, and taking into account that most take loans around the $300,000 level, I’d suggest those purchasing 4 bedrooms or more are likely to be couples taking advantage of various stimulus grants to purchase in fringe localities - the price point of which is often comparable to a small inner city unit.
Albeit, this should not overshadow core trends which hold the potential to lock up ownership between a reducing number of owners and investors, who in turn have to provide accommodation for an ‘increasing’ number of renters.
To sit on the sidelines and argue that a growing percentage of investors have not played a substantial part in the dramatic growth of capital city property values and consequently placed a strain on first-home buyer numbers is lunacy in light of the data we have to hand.
It’s not a case of labelling individual property investors as ‘greedy’ – the majority are not – they are simply responding to, and taking advantage of, current government policy which assists using property to provide an income stream into retirement - an issue we all need to attend to through the course of our working lives.
It’s also important to understand that as a proportion of any property market, investors are absolutely essential.
However, a report by the National Housing Supply Council titled <a target="_blank" href="https://www.nhsc.org.au/content/publications/housing_supply_affordability_2013/default">‘Housing Supply and Affordability’</a>, released last week, states:
“Couples, both with and without children, have experienced the largest falls in home ownership. There has also been an increase in the share of those approaching retirement age that still have a mortgage. Many of these changes are likely to have been at least partly driven by the increase in house prices over the decade, making it harder for people to get onto the housing ladder and taking out proportionately larger mortgages when they do.”
Surely everyone with an interest in the health and wellbeing of their children and grandchildren should be actively seeking solutions to problems which threaten to adversely affect their future, at the expense of pumping up prices and labouring them with an ever-increasing mountain of debt.
In the UK, there has been a focus on forcing better use of existing homes with policies such as a ‘bedroom’ tax and ‘mansion’ tax – however taxing people who choose to pay more to live in larger properties, or assessing a single individuals ‘need’ for ‘2’ bedrooms rather than ‘1’ without an understanding of their personal circumstances is not the solution.
Rather, the answer lays in making sure lower priced stock that comes to market is directed towards the ‘buying’ demographic most in need – and currently, this is not the investor, it’s the first home buyer.
Under current policy, we’ve managed to lock the established housing market up in a hotbed of ‘speculative’ demand, producing a weak construction sector which is further impacted by years of poor planning for population growth.  This has consequently resulted in an increasing number of ‘potential’ first home buyers pushed into a rental market of rising yields.
Only through a number of changes to current government policy is it possible to slowly reduce inflation in the established sector and open up the potential to provide feasible and affordable ‘new opportunities’ in both inner and outer suburban regions. However, if we sit back and do nothing, then warnings coming from organisations such as The National Housing Supply Council, or McKell institute, will increasingly come to fruition.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
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FHBs still struggling to enter the market: Catherine Cashmore

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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:
 
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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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