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

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

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

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

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

Juliet to sit quietly amid Roseville apartment boom

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

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

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

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

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

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

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

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

Every First Home Owner Grant for new property by state

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

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

Staff Writer

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

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

alisonwarters@gmail.com

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

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

Ellen Walker

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

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Four years have passed since Citta Property Group's proposal to redevelop the contentious St Kilda Triangle site was rejected with the premium Melbourne site still an asphalt car park servicing the hordes of visitors from far and wide so they can grace the St Kilda foreshore and surrounds.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Triangle%20proposal%20looking%20towards%20Palais.jpg" rel="gallery-all" title="Former St Kilda Triangle Proposal. Image © Citta Property Group"><img alt="" class="image-article-full-width-580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/Triangle%20proposal%20looking%20towards%20Palais.jpg?itok=9zNKCsbx" title="Former St Kilda Triangle Proposal. Image © Citta Property Group" width="580"></a>

<figcaption>Former St Kilda Triangle Proposal. Image © Citta Property Group</figcaption></figure>The site was once swampland, yet was transformed into recreational space after the foreshore was drained and reclaimed. During 1906 the St Kilda Council established the Foreshore Trust and the area was re-invented by Carlo Catani into a mediterranean style resort consisting of the iconic Luna Park in and amongst tearooms and a kiosk similar to what was found in Catani's motherland. Today the St Kilda Triangle site is precisely that, a triangular shaped parcel of land bordered by The Esplanade to the north and St Kilda foreshore/Jacka Boulevard to the south. Along with Cavell St, the heritage listed 1920's Henry E. White-designed Palais Theatre forms the eastern border. In a larger context the site is located neatly between the restaurant strip of Fitzroy Street to the north and the once prodominently Jewish enclave of Acland Street now consisting of bars and the popular and famous cake shops.

However for much of the areas existence the publically owned land has been underutilised as an open air carpark which triggered the development of the St Kilda Foreshore Urban Design Framework (UDF) during 2001 in an attempt to increase the area's amenity, and better serve the ever increasing patrons using the foreshore. The UDF identifed several principles for the future of the triangle site with one including a low rise development whilst protecting and enhancing the local culture with provisions for increased public space and ensuring that the area remained consistent with its entertainment history as set out by Carlo Catani.

By mid 2007, the Port Phillip City Council and the State Government had awarded a tender to lease and redevelop the St Kilda Triangle to Citta Property Group in partnership with the then Babcock &amp; Brown following an expressions of interest process that took some years to complete. As part of the redevelopment, Citta Property Group gathered a clutch of designers and advisors in order to provide the most appropriate outcome for the site's setting. Local architecture firm Ashton Raggatt McDougall joined the team, known for their unique and interesting interpretation of architecture and its relationship with street level amenity.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/leading%20to%20the%20foreshore.jpg" rel="gallery-all" title="View to the St Kilda Foreshore. Image © Citta Property Group"><img alt="" class="image-article-full-width-580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/leading%20to%20the%20foreshore.jpg?itok=0O-exGqA" title="View to the St Kilda Foreshore. Image © Citta Property Group" width="580"></a>

<figcaption>View to the St Kilda Foreshore. Image © Citta Property Group</figcaption></figure>A boutique hotel, TAFE campus, retail outlets with a mixture of local and chain establishments, various nightclubs and bars (including Ministry of Sound) were in the mix which also included public open space in the form of an extensive grassed area above the retail outlets and underground car parking spaces.

Invariably along with the announcement of this proposal came a flood of local community opposition to the scale of the development in a much loved area of Melbourne, primarily lead by the action group UnChain St Kilda. Accordingly to the <a href="http://www.unchain.org.au" target="_blank">group's website</a> they are an incorporated body of people that were brought together by the proposed overdevelopment of the St Kilda triangle site. They contend that community discontent surrounding the proposed development were a result of poor governance at local and state levels. UnChain St Kilda lead the community backlash against the proposal which culminated in fiery council meetings which packed out the Port Phillip Council Chambers and created headlines across print, TV and radio media at the time. At the height of local discontent during 2007 their overdevelopment message was supercharged by local celebrities such as Dave Hughes and Rachel Griffiths to name but a few, with a documentary titled <a href="http://www.theage.com.au/tv/Current-Affairs/Triangle-Wars-2862204" target="_blank">Triangle Wars</a> also highlighting the amount of anger and vitriol present at the time. The film followed the journey of a number of key figures in the battle including the diminutive vocal Frenchman, Serge Thomann who went on to win a seat at Port Phillip City Council in 2008 following the UnChain St Kilda campaign.

When talking about the St Kilda Triangle saga, we cannot leave out Dick Gross, at the time a former Port Phillip City Councillor who gained local notoriety as a supporter of the failed Citta Property Group proposal. Both Thomann and Gross have maintained a long standing feud that revolved around the St Kilda Triangle site development. During 2007, Gross said of the proposal "I was part of the Council that had the culture of saying no to everything. And by saying no we got a feeling of virtuous righteousness, but we were as impotent as a pre Viagra 70 year old. We were getting nothing done." He went on further, "My fear is that if you say no too often, State Government will come in and impose a solution which will be worse. I promise you that it will be worse."In a way Dick Gross was and still is correct, one of the roles of local government is to be the first port of call for its local constituents for issues affecting the immediate community and acting upon those needs quickly and maturely in the interest of their rate payers.

In the aftermath of the bitter rangling over the future of the Triangle site, the new Council commissioned feasibility studies and conducted a total of four consultations with the community to develop the 2012 St Kilda Triangle Framework. Unsurprisingly, former Councillor Dick Gross was uninspired by the document saying that the lack of details was a disgrace. However on the flip side, Thomann was somewhat more sympathic to the document saying that "it is a little vague, but is looking forward to getting back onto council and expending as much energy on developing this plan and turning it into something more real."

The key features of the document as stated on the Port Phillip Council are as follows:

<ul>
<li>Landscaped public space</li>
	<li>Views of the foreshore</li>
	<li>Low scale sustainable development</li>
	<li>Land for future Palais Theatre improvements</li>
	<li>Principles to guide development of the site</li>
	<li>Live music and performance opportunities</li>
	<li>Improved beach access for pedestrians</li>
	<li>Links to transport, Acland and Fitzroy Streets</li>
	<li>A possible underground carpark</li>
	<li>A funding and implementation strategy</li>
</ul>
These key findings appear reasonable options for the future of the site, but the aspects that really needs to be considered far more in my opinion are transport links and the conduit that the site should provide between Acland and Fitzroy Streets. I believe that this connection is vitally important, leading to the completion of the urban fabric of St Kilda. All efforts should be made to enhance the public realm whilst minimising further auto traffic attracted to the eventual development.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/leading%20to%20the%20foreshore.jpg" rel="gallery-all" title="View to the St Kilda Foreshore. Image © Citta Property Group"><img alt="" class="image-article-full-width-702px" src="/sites/urbanmelbourne.info/files/styles/article_full_width_702px/public/pictures/article-images/leading%20to%20the%20foreshore.jpg?itok=uECFS-1C" title="View to the St Kilda Foreshore. Image © Citta Property Group" typeof="Image"></a>

So after years of bickering, campaigns and consultations after consultations, a question that sticks in my mind is what are peoples motivations behind all of this? Some say the community have concerns about crown land being handed to developers to, in their words, build a "Chadstone by the Sea". Were local residents worried that the development would introduce more alcohol fuelled violence to an area that historically has had a problem with such problems? Then there's the loss of vistas over the bay for residents fronting The Esplanade and the loss of "open space" where in fact, the development would have delivered additional useable open space as aforementioned in this article, whilst the design purposely proposed to be low rise as to not lose these much treasured vistas. I believe it was a combination of a lot of different factors but my favourite line came from my former employer during 2008 (and long time St Kilda resident) after a long day in the field when I asked him what he thought of the St Kilda Triangle, he replied by saying "I hate it", naturally I asked why? He responded with "It will reduce the amount of car parking for the locals". As you can imagine at the time I was a little bemused knowing that the development proposed additional car parking as well, but I guess it shows that everyone had their own views on the site, informed or otherwise.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/Internal%20courtyard.jpg" rel="gallery-all" title="Former St Kilda Triangle Proposal. Image © Citta Property Group"><img alt="" class="image-article-full-width-580px" height="290" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/Internal%20courtyard.jpg?itok=6udMMJrt" title="Former St Kilda Triangle Proposal. Image © Citta Property Group" width="580"></a>

<figcaption>Former St Kilda Triangle Proposal. Image © Citta Property Group</figcaption></figure>Ultimately, and I hate to be the bearer of bad news for some, but I feel the community backlash was not the deathknell for this project that many has suggested. In fact, something that may be considered the elephant in the room in all of this, would be the impact the global financial crisis had on this project going ahead. I would assert that if the GFC didn't hit the global markets at the time of the proposed Citta development moving toward leasing and eventual construction, would we be hanging out at one of the many restaurants at the newly developed Triangle site on a sunny Saturday afternoon sipping sangrias... more than likely.

But it was not to be and the site remains an open air car park and one of the most prized, underdeveloped waterfront locations in Australia. In hindsight, I feel that the Citta proposal was somewhat excessive in context , however when this development eventually does occur I sincerely hope is that the site is not underdeveloped as a result of a community angst still apparent from the events of 2007. Finding the right development balance is the vexing question. Ideally I see the Triangle site linking both Fitzroy St and Ackland St whilst also satisfying the needs of visitors, the local community and the Melburnians at large. We want something to be proud of!

The key features of the framework document provides merely a starting point and much more needs to be done to ensure an outcome that is fitting of this premium location. In finishing I leave you with two points. Firstly, the St Kilda foreshore belongs to everyone and not those that have the means and privilege to be able to live in what is now an exclusive beach side area. Secondly, I would like to reflect on the sentiment of Dick Gross' words, if we say no too often then we run the risk of ending up with an outcome that is worse. Compromising the benefit/enjoyment of the wider community by pandering to the vocal objections of a few could constitute a bad outcome.

<h2>Sources and further reading</h2>

<ul>
<li>http://stkildatriangle.com/</li>
	<li>http://www.unchain.org.au/</li>
	<li>http://www.citta.com.au/pages/projects/st_kilda_triangle.php</li>
	<li>http://stkildanews.com/the-st-kilda-triangle-wars-continue/</li>
	<li>http://vicmps.greens.org.au/content/st-kilda-triangle-development</li>
	<li>http://www.portphillip.vic.gov.au/aug-2012-media_4668.htm</li>
</ul>
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flame

St Kilda Triangle site: The missing link

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Happy International Women’s Day... oops sorry, did I lose a few blokes with my first words?
I hope not because it’s 2013, not 1973.  Blokes now are much more understanding and supportive of our ability and achievements. There really has been some momentum gained.
This year’s theme for <a href="https://www.internationalwomensday.com/" target="_blank">International Women’s Day</a> is: The Gender Agenda, Gaining Momentum.
It’s actually not that long ago that at our first Federal Election in 1901, only women from South Australia and Western Australia were entitled to vote. So women in all the other states were not allowed to vote.  The other states did slowly followed yet it took Victoria another six years to let women vote.
The first woman to win election to an Australian Parliament was in 1921. Now, in 2013, we have Australia’s first woman Prime Minister. I’m proud of Julia Gillard’s achievement as a woman (not necessarily as a politician), but you don’t hear the blokes saying "gosh that Johnny Howard made me proud when he won the election." It was expected of a male. Wouldn’t it be lovely to keep the momentum up and see more women prime ministers?
Fast forward several decades. In 1974 the minimum wage was extended to women; wow, that was only 39 years ago.  So before this, women were not entitled to the same minimum pay as men.
Whilst we have laws attempting to create equal pay and equal opportunity for women it does not automatically transpire. This was one of the reasons I started my own business. After many years in the corporate world I witnessed much bias. Starting out as a secretary, I used to look forward to having one of my own when I climbed the career ladder. But when I was promoted to these roles, the males had access to support but there was no chance for me having any admin assistance. Perhaps I should have pretended that I couldn’t touch type!
By the time I was ready to have kids, I looked around the office and couldn’t see a way to keep my high-flying corporate role and start a family. I’ve seen business women continue with their corporate careers only to find it’s been an unwitting sacrifice for the opportunity to have children.
But one thing that drove me to keep working whilst raising my kids was the thought of taking ten or even five years off work, then I would be totally dependent on my husband not only during that period but also into our retirement. There would be no contributions made during this time to my superannuation and how could I keep investing in property if I had no income?
My choice to start my own business was to get the flexibility needed to be a mother but also to hold onto my independence. Whilst my husband is a generous man, I had flashbacks to my childhood when my mother would have to ask for her ‘housekeeping money’ from my father each week. Dad was generous too, but to me it represented mum’s dependence on dad. She seemed happy with this setup, but mum had no money of her own, nothing to dip into if she wanted to purchase a little treat for herself or for us kids.  To me, it meant: no money, no independence.
I think there is good momentum with the ‘gender agenda’ but I think it’s up to us to keep our own personal momentum. Women need to take responsibility for their own retirements and plan ahead.
One of my clients is doing just that, in fact I’ve never seen such momentum. Rachel has four children and worked (past tense… keep reading and you’ll see why she had to stop work). In her ‘spare time’ she also studied accounting by correspondence!  When I met her she had already purchased nine investment properties but wanted to move into property developing to propel her portfolio. Property Bloom had just completed a dual occupancy development for Rachel and started a granny flat project when she found out she was pregnant with twins. When she was rushed to hospital and the twins were delivery prematurely, she still found time to close her finance deal so construction wouldn’t be delayed.  She is an amazing inspiration and example of a woman who is focused and won’t let anything get in her way, not even six children!
Momentum comes to those who have done the hard yards. Momentum is an increase in energy or force when something is on a roll. I can see it happening in my business and I can see it happening with women’s equality. So keep moving forward in your world, keep asking for more pay, keep pushing for community projects, keep celebrating achievements and the momentum will carry on for our next generation of women.
Jo Chivers is director of <a rel="nofollow" href="https://www.propertybloom.com.au/">Property Bloom</a>.
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jochivers-wq5Bp59R5a

There is momentum in the push for gender equality: Jo Chivers

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Dear Margaret,
If I buy a property to rent out, what insurances do I need to cover me for the tenants etc?
Phillip, ACT 
Phillip, as you know the basic insurances are going to be really important for you, as with all property, so you need to start with a good house and contents policy. 
This means insuring the building, and any contents too.  Where it is rented you might not have a lot of contents but remember there are some things which still need covering, like window treatments and anything not part of the building. 
A lot of people think they don’t need to cover the building if it’s a strata-titled property, since the body corporate has building cover, but that’s not entirely true.  You will still need that gap insurance to cover parts of your property not considered common property - so anything inside your four walls.
In addition to that you will need landlords insurance.  This will cover:
<ul>
<li>Damage caused by a tenant</li>
<li>An amount for public liability</li>
<li>Loss of rent if the damage renders your property uninhabitable</li>
<li>The costs of pursuing a tenant through a tribunal for unpaid rent</li>
</ul>
It won’t cover loss of rent through periods of normal vacancy but that’s something you should be planning for before you buy anyway. 
It’s important to be aware that not all policies are the same – the important things you are looking for will be a low excess, and a high cap on claims for each event – many companies cap the claim you can make at too low an amount leaving you very out-of-pocket in the event of damage.
Shop around and don’t just take the cheapest option – a few dollars more might save you thousands in the long term and remember, the cost of this insurance is tax deductible.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel onYour Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Ask Margaret: What insurance policies do I need to cover my tenants?

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The National Rental Affordability Scheme (NRAS) is set to expand with the federal, state and territory government planning to issue another 10,000 incentives worth around $40 billion to developers under the scheme.
Each incentive equates to one home under the scheme with around 11,300 homes built since its launch in 2008.
The scheme aims to provide affordable rental accommodation at a 20% discount to market rents, while property investors get an annual tax free incentive of just under $10,000, which is indexed each year to the rental component of the CPI.
The NRAS scheme was launched by Kevin Rudd in 2008 but failed to gain initial traction due to a perception that it was a social housing scheme with just 329 homes delivered in the first year.
Momentum has picked up since around April 2011 (as the graph below shows) with 11,277 homes delivered as of December 2012. However, momentum will have to pick up signficantly if the government wishes to achieve its target of 50,000 homes by 2015.
Property investors can participate by buying an NRAS-qualifying house or apartment and receiving the tax-free incentive in exchange for offering the 20% rental discount. 
Actual Delivery of Incentives by end of NRAS Year (30 April) – Cumulative: 
<img alt="nrasmarch7" height="167" width="470" src="/images/stories/2013/03/nrasmarch7.jpg">
The Australian Financial Review quotes Mark Butler, federal minister for housing and homelessness as saying he is working with state and territory ministers to open the fifth round of NRAS incentives with the aim of completing 50,000 houses by June 2015.
It follows the release of The National Housing Supply Council's 'Housing Supply and Affordability Issues 2012-13' report, which warned of a low volume of new housing supply coming onto the market with the shortage “likely to continue to be felt by the more vulnerable in our population, such as would?be buyers with low and insecure incomes, those at the lower end of the rental market and those dependent on government income support payments”.
In December last year, <a href="https://www.propertyobserver.com.au/queensland/nras-and-smsf-investors-helping-keep-inner-brisbane-off-the-plan-market-afloat-david-devine/2012112858155" target="_blank">Brisbane apartment builder David Devine</a>, whose Metro Property Development Company is currently the most successful seller of new off-the-plan apartments in inner Brisbane, told Property Observer that self-managed super funds and NRAS investors were among the biggest buyers of his off-the-plan apartments in his projects.
Metro has marketed more than 50% of the 308 apartments in its Madison Heights development as NRAS-approved investments, compared with 20% in its first development, the Chelsea.
Financial advisory firm Onyx Wealth, which promotes NRAS property investments, says SMSF investors should consider acquiring an NRAS property because of the positive cashflow benefits,
“NRAS properties have greater negative gearing than equivalent non-NRAS properties,” says Paul Thewlis and Margaret Hardy from Onyx.
“By giving up 20% of the taxable rental income the SMSF increases its tax loss. Normally a loss is undesirable, but in this case it is usually offset by the value of the NRAS incentive,” they say.
Ernst &amp; Young partner Ross Hamilton told The Australian Financial Review he expected a “massive response” from developers to secure the incentives.
The tax incentive comprises an Australian Government contribution of $7,486 per dwelling per year (paid as a refundable tax offset or payment); and state or territory Government contribution of $2,495 per dwelling per year (in direct or in-kind financial support).
Financial institutions, investors, private developers, not-for-profit organisations and community housing providers are all eligible to apply for NRAS incentives.
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lschlesinger-FZcF9M3vE6

Government to expand NRAS scheme with aim of 50,000 homes by 2015

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Without knowing exactly the type of land <a href="https://www.prosper.org.au/2012/12/06/englobo-2/" target="_blank">Prosper</a> is referring to, I would say that the total land banks of the major developers (248,607 lots) does not reflect land that can be turned into vacant lots tomorrow.
Many are likely to be awaiting rezoning, planning approval, trunk infrastructure and services, etc, that have to be in place first before they can subdivide. As a result, the amount that can be brought to the market at any one time is likely to be much lower.
However, having said that, there is probably an argument, particularly in some corridors that a lack of competition and control of land releases is keeping prices up.
A land tax for zoned land may also encourage developers to turn over their land quicker if they are holding zoned land. If more land is forced onto the market in a corridor, then it could also result in price competition.
However, there could also be some unintended consequences.
For example, developers could delay seeking to rezone former cow paddocks to residential as late as possible to minimise the extra land tax. However, any additional delays in the planning process could mean that the land may not be zoned and ready when the market catches up, placing supply pressures in the local region and driving up prices anyway.
Additionally, if developers start building to a price and for speed rather than quality, then there may be lesser investment in product, environmental features, community infrastructure, etc.
The <a href="https://www.prosper.org.au/2012/12/06/englobo-2/" target="_blank">Prosper </a>article includes a link to an article from The Age with a reference from the chief operating officer of Delfin. He talks about the days when the number of competitors were too numerous to count, but the estates back in those days did not have the level of community investment of the larger estates you see nowadays.
Also, you would need to keep on top of other factors to prevent prices rising too far. At the end of the day, prices are governed by demand and supply, and the rate of supply needs to be able to meet the surges in demand.
This was part of the problem occuring during the boom in Perth in the middle of last decade. Initially, the rate of subdivision was able to keep up without large pressures on prices. However, as demand continued to increase and skills shortages emerged in planning, construction, etc, substantial delays began occurring that drove up prices despite the large level of zoned land that was available.
This also happened to some extent in late 2010 in Melbourne.
Therefore, at the administrative and construction end, you would need to guarantee a smooth process to ensure that land can be zoned and taken through the whole process quickly enough to meet the surges in demand.
There is also the issue of state and local government levies and infrastructure charges. These are charged to the developers who in turn pass them onto the purchasers and have also contributed to the increase in price of land over the past decade.
So the short answer is the concept of taxing zoned land to speed up development is likely to increase price competition and encourage further development of land.
On their argument, this would best work in areas where there are plenty of land holders to create competition, although it doesn't solve the problem where there is not enough competition in the corridor which would allow developers to just factor the land tax into their prices - i.e. a developer would balance their rate of sale to the market with the price they can achieve and the additional cost of the land tax in such a way as to maximise profits.
Even where there is competition, you would also need to ensure that the process of the delivery of the subdivided land is as smooth as possible so that the rate of development can be scaled up quickly enough to meet demand in an upturn without placing pressures on prices. In addition, in circumstances where developers are competing on price, it could impact on the type and quality of the product being offered.
Angie Zigomanis is senior manager of <a rel="nofollow" target="_blank" href="https://www.bis.com.au/" title="BIS Shrapnel">BIS Shrapnel.</a>
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angiezigomanis-VT64gGbExQ

Land tax would encourage developers to turn over land quicker but with unintended consequences: Angie Zigomanis

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Sydney ranks 24th in the global cities measured by the number of high net worth individuals, according to the latest Knight Frank Wealth Report. Melbourne was just a few places lower in 28th place.
And Sydney secured a top 10 international cities rating that matters most in the thinking of all HNWIs, coming in at seventh and Melbourne 22nd.
There will be a 37% increase in their number over the next decade. The high net worth individual (HNWIs) is defined as someone with US$30 million or more in net assets.
Their number is set to increase by 50% internationally in the coming decade, with the fastest growth in wealth creation in Asia and Latin America. London and New York are the top locations in the world for wealthy individuals and will remain so until 2023, <a target="_blank" href="https://www.knightfrankblog.com/wealthreport/">according to Knight Frank's survey</a> of wealth advisors, whose 15,000 clients have assets worth US $1 trillion.
Price-wise, Sydney came in as the world’s 9th most expensive prime residential property market, with prices averaging $US21,700-$US24,000 per square metre in the 2012 fourth quarter, according to Knight Frank.
Sydney is tipped to continue to attract interest from Asian HNWIs, which Sudhir Vadaketh, senior editor at the Economist Intelligence Unit in Asia, says are more than just voracious consumers.
"They are also savvy investors who see huge potential in prime global property.
"Asians love property," he said, adding there are two reasons to believe that over the next decade Asian HNWIs will become relatively more interested in overseas properties.
"First, portfolio diversification.
"Asian investors are increasingly concerned with macro risks to their domestic economies, after several years of stellar growth.
"These include political issues – such as the standoff between China and Japan over the Diaoyu/Senkaku islands – and policy risks, like further cooling measures triggering a property price correction in cities suchas Hong Kong and Singapore.
"The second reason is growing comfort levels.
"As more Asian companies expand abroad, so owners and senior managers are becoming more familiar with foreign cultures and business practices, moderating the risk premium hitherto attached to these markets and asset classes."
He suggests the nationalities most likely to venture abroad, in addition to Chinese investors, are from emerging markets such as India, Indonesia, Mongolia, the Philippines and Vietnam.
"Expect HNWIs from frontier markets like Myanmar and Sri Lanka to become more prominent as they seek safe havens for their newfound wealth to mitigate the risk of renewed political tensions at home.
Asian HNWIs will invest in destinations with adequate liquidity, transparency, and an existing Asian population, such as London, Melbourne, New York, San Francisco, Sydney and Vancouver, Sudhir Vadaketh said.
The international Knight Frank property commentator Liam Bailey says in the Knight Frank report that Australian cities do well when it comes to the most contentious indicator within the survey - that of quality of life.
Sydney and Melbourne ranked along predictable northern European and Canadian "cities with an international reputation for providing the ultimate urban utopia."
Zurich comes first, followed by Melbourne, Sydney and Toronto.
"Residents of New York and London might bridle at the thought that such locations can push their own cities into sixth and eighth places respectively, but these towns do have the data to back up their claims to urban bliss, even if they wouldn’t necessarily get the vote of the fashionista or sybarite.
Melbourne is a case in point; the city topped the Economist Intelligence Unit’s most recent global liveability report on the best and worst living conditions around the globe.
"The city scored a near-perfect 97.5%, making it the most liveable of the 140 cities surveyed, only losing points for climate, culture and petty crime.
However, rising temperatures and sea levels are expected to drive up the cost of living in Melbourne over the next few years.
"In fact, a recent report released by the Melbourne Community Foundation identified climate change as one factor that has the potential to have a dramatic negative impact on quality of life in the city by 2030," Bailey noted.
<div></div>
<div>Knight Frank Australia executive chairman Stephen Ellis noted the latest findings from the Wealth Report showed Sydney and Melbourne ranked as "investment hotspots" for many Chinese buyers.</div>
<img src="/images/stories/2013/03/knightfrankmarch7.jpg" width="400" height="832" alt="knightfrankmarch7">
Source: <a href="https://my.knightfrank.com/research-reports/the-wealth-report.aspx" target="_blank">Knight Frank Wealth Report 2013</a>
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Sydney ranks 24th in the global high net worth cities as Chinese continue to acquire property: Knight Frank Wealth Report

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Less than half the number of auctions from each of the previous two weeks will be held in Australian capital cities this coming week, according to RP Data.
There are a number of public holidays across Australia next Monday so it is expected that auction volumes will be subdued.
While there were a comparable amount of auctions in capital cities in each of the past two weeks - 1,984 last week and 2,004 held the week prior - this week only 961 auctions are scheduled.
Sydney (517 scheduled auctions) will hold more than double the number of auctions planned for Melbourne (221 scheduled auctions).
Across Australia’s largest auction market, Melbourne, there were 986 auctions held last week and the clearance rate was recorded at 66.9 per cent, down from 69.5 per cent the week prior.
Last week, Sydney’s auction clearance rate stayed relatively steady at 64.2 per cent, compared to 63.4 per cent over the previous week. There were 751 auctions held in Sydney last week, up from 618 the week prior.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/03/rpdataauctionsmarch6.gif"><img src="/images/stories/2013/03/rpdataauctionsmarch6thumb.gif"></a>
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po-LsXgBTHBmX

Public holidays to subdue auctions following strong fortnight: RP Data

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Well it’s a fait accompli: the property market is back with auction clearance rates in the 60s and 70s so it must be the right time to buy.
Well, that’s what the mainstream media would have you believe, as they flip the coin from negative market reports to positive.
This kind of mass-market reporting makes many people think they must act immediately. But while there is no doubt we are seeing a bit more strength in the market, it is not across the board.
Last weekend we saw two very high quality properties go under the hammer with strikingly different results.
This <a href="https://www.realestate.com.au/property-townhouse-vic-hawthorn+east-112919259" target="_blank">three-bedroom town house in Hawthorn East</a>, for example, was quoted to sell for around $650,000 to $700,000 but in the end sold for $735,000.
The point here is not what the property sold for but the number of bidders vying for the property.
Throughout the auction, six bidders declared their hand and four of those where still in the hunt when the property was declared on the market at $700,000. The property had very strong support from the market and the sale value was well underpinned.
This outcome was a far cry from what happened at <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-112927163" target="_blank">8/9 Coppin Grove, Hawthorn</a>.
The two-bedroom Art Deco apartment is in a block of only four in a blue chip location.
In anyone’s language it is a sound investment, but the auction was a fizzer. The property was quoted to sell for $750,000 to $800,000 and only attracted a single bid before being passed in.
It sold a short time later for $796,500.
At this stage of the market cycle many investors can feel the pressure to get into the market.
When it comes to residential property, most people’s opinions on the ‘right’ time to invest are based largely on market conditions.
Whilst the state of the market certainly plays a role, changes in factors like interest rates and the ratio of supply to demand are beyond the control of the individual investor.
This is why, if you’re considering buying an investment property, it’s wise to focus on the factors you have some level of control over; in other words, your personal and financial circumstances.
The key to maximising this control is managing risk. Like any asset class, investment property involves a degree of risk.
If your personal or financial circumstances change significantly and you haven’t planned for the change, the risk of getting in over your head is higher.
Before you invest, it’s important that you’re in a strong enough personal and financial position to ride out an unexpected event such as losing your job or contracting a major illness.
 
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Generally speaking, the least successful property investors are those who haven’t planned adequately for risk, cannot afford to hold the property and are forced to sell before the asset has begun to realise its potential.
To determine whether you’re in a strong enough position to buy an investment property and comfortably shoulder the risk, it’s sensible to seek personalised advice. Meanwhile, here are three of the most important factors to consider:
Income
 The best time to invest is during your peak earning years when your income is steady or, preferably, increasing.
You should also have a reasonable expectation of earning this income on an ongoing basis for at least seven to 10 years.
During this time, you can put any pay packet increases into the property loan to reduce debt rather than merely pay off the interest.
This will enable you to further expand your portfolio over the long term.
Before you buy, think ahead to any possible personal commitments you may make over the next seven to 10 years.
If you’re likely to experience a drop in income due to maternity leave or self-employment, or higher expenses due to home renovations or school fees, you’ll need to consider how these could affect your ability to meet your loan commitments and other property-related expenses.
If things could get tight, it may be best to delay buying an investment property until your income and expenditure is back on a more even keel.
Debt
 Before you invest, it’s sensible to reduce your non-deductible debt as much as possible.
Non-deductible debt is debt you can’t claim against your taxable income, such credit cards, car loans, store cards and the interest on your family home.
There’s little point in taking on more debt by way of an investment property if your current debt levels are already stretching your financial resources.
Gearing
 Only buy an investment property when you’re gearing (borrowing) to a level at which you can comfortably meet repayments even if interest rates go up.
There’s no ‘ideal’ gearing level; it depends on your individual financial circumstances and risk tolerance.
From the lender’s perspective, however, a gearing level higher than 80% is considered a more risky proposition, so the lender will require that you pay mortgage insurance before they approve the loan.
Remember to factor in this expense when you’re planning to buy.
In short, there’s little point jumping into an investment when market conditions are more affordable if you don’t have the capacity to hold the asset for the long term and benefit from its full potential. The ‘right’ time to invest is when it’s the right time for you.
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/" target="_blank">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.
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The 'right' time to invest depends on your personal situtation: Mark Armstrong

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Not only can you often get first pick if you get in early, but there can be sound reasons for buying property off the plan.
Before a property is constructed developers look for presales to give to the bank so it will provide funding for construction.
The GFC has made it hard for developers to get construction finance, and many banks are not willing to part with money unless the majority of the proposed development has been sold.
Many developers are willing to give good deals upfront to secure sales.
Discounts can start from about 5% to about 10% on the completion price and usually the earlier you are in, the better price you can negotiate.
However, you should not rush in to secure an early purchase simply to get a discount until you are satisfied with your investment and the contract you are about to sign.
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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Buying early can have its advantages: off the plan

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Industrial landlord the Goodman Group has confirmed that it has contracted to sell its 31,500 square metre industrial site at Mascot in Sydney to Harry Triguboff's Meriton group for $100 million.
Triguboff plans to build 1,000 apartments on the <a target="_blank" href="https://www.propertyobserver.com.au/developments/harry-triguboff-celebrates-80th-birthday-with-proposed-%24100-million-inner-sydney-site-acquisition-and-calls-for-more-rate-cuts/2013030459705?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">19-33 Kent Road site</a> near Sydney airport with the sale earlier mooted by The Australian.
Goodman says the disposal of the site forms part of its active portfolio management strategy.
"Goodman will look to enhance the quality of its portfolio through the increasing trend of urbanisation and property renewal in its key markets," it said in a statement.
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